According to sources in the shipping industry on March 28, Gemini Cooperation, a shipping business alliance between the world’s No. 2 shipping company Maersk and No. 5 Hapag-Lloyd to go live in February next year has proposed a plan to exclude Busan Port of South Korea and ports of Japan, Vietnam, a
Pacifico Energy Korea has signed a Co-Existence Agreement to accelerate the development of the company’s Myeong Ryang Offshore Wind Project with the Seogeocha Island Offshore Wind Promotion Committee, which comprises of residents of Seogeocha Island located in Jindo County, South Jeolla Province. Wi
Kwon Eon-oh, vice president of High Bandwidth Memory (HBM) Product Innovation (PI) at SK hynix, stated on March 28 that “the next-generation HBM not only has to excel in functionality as a given but also needs to evolve into a form that can play roles beyond memory, offering differentiated specialty
Korea’s export value index rose for the fifth consecutive month in February thanks to a recovery of the semiconductor industry. Export value is the current value of exports converted to U.S. dollars and expressed as a percentage of the average of the base period (2000). Semiconductor exports are sho
The K21 Infantry Fighting Vehicle, produced by Hanwha Aerospace, is highly likely to be exported to Latvia this year.Hanwha Aerospace is currently participating in the Latvian Army’s armored vehicle replacement project with its K-21 Infantry Fighting Vehicle. The project involves about 100 units and
South Korea and Malaysia have agreed to resume negotiations for a Free Trade Agreement (FTA).The Ministry of Trade, Industry, and Energy announced on March 26 that Jung In-gyo, chief trade negotiator of the Ministry, met with Tengku Zafrul Aziz, the Minister of Investment, Trade, and Industry of Mal
Korea’s trade surplus with the United States, which peaked in 2023, is likely to gradually shrink in the future, according to a new report.The Korea Institute for Industrial Economics & Trade (KIET) released a report on a structural analysis of the causes of Korea’s surplus in trade with the United
The rapid increase in direct overseas purchases through Chinese e-commerce companies such as AliExpress, Temu, and Shein has led to discussions about alternative measures to mitigate the side effects. However, it has been confirmed that the proposal to tax small imported goods is closely linked to t
For the first time since the onset of the COVID-19 pandemic, the Export-Import Bank of Korea (Korea Eximbank) is preparing to establish its first overseas office in Poland, marking its initial foray into the country. The recent amendment to the Export-Import Bank of Korea Act has created the opportu
South Korea is under subtle pressure from China following reports that it may join the United States in export restrictions against China. During a visit to China for the China Development Forum (CDF), SK hynix has been highlighted by Chinese officials emphasizing the importance of the Chinese marke
Hanmi Group announced on March 25 that it has dismissed Lim Jong-yoon, president of Hanmi Science, and Lim Jong-hoon, president of Hanmi Pharmaceutical, effective March 25.The group stated that the two presidents caused disputes over important resolutions of the Hanmi Science board of directors, inf
Paris Baguette, a bakery brand of SPC Group (Chairman Hur Young-in), is making its entry into Italy.SPC Group announced that Chairman Hur Young-in met with Mario Pascucci, the CEO and third-generation founder of the Italian coffee brand Pascucci, who visited Korea on March 24 to sign a master franch
As Chinese shopping platforms such as AliExpress, Temu, and Shein continue to expand their presence within the domestic market, it has been revealed that seized counterfeit Chinese imports amount to a staggering 1.8 trillion won over the past five years.According to the Korea Customs Service on Marc
The CEO of Osstem Implant allegedly made approximately 150 million won (US$111,431) in short-term trading profits by utilizing important undisclosed information before the company’s delisting.According to Osstem Implant’s business report for last year released on March 22, the company was informed o
In February, Korea’s instant noodle exports reached a record high. As the green light has been given to instant noodle exports since the beginning of the year, Korea’s ramen exports are expected to exceed USUS$1 billion for the first time this year.Korea’s instant noodle exports last month was the h
The possibility of exporting South Korea’s indigenous helicopter, Surion, to Iraq is increasing. Following visits by high-ranking Iraqi military officials, the Iraqi Defense Minister’s visit to South Korea has heightened discussions about the introduction of the Surion. The potential first export of
Thanks to the booming export of Hallyu content such as dramas, movies, and webtoons, South Korea’s trade balance in intellectual property rights achieved its largest annual surplus in history last year.According to statistics released by the Bank of Korea (BOK) on March 20, the provisional trade bal
A high-power (120kV, 60kW) electron-beam welding system has been developed for the first time in the country, paving the way to the domestic production of a local vacuum high-power electron-beam welding system, the key equipment for the welding of small modular reactors (SMRs).For the first time in
While domestic demand including consumption continues to remain weak, exports, which have been driving up Korea’s economic recovery, are also facing a threat on the account of a slump in exports to China. Exports to China grew by more than 16 percent in January this year, snapping a 19-month streak
Thanks to the government’s Value-Up program, high-dividend and low price-to-book ratio (PBR) stocks are garnering attention. However, some large-cap stocks are still sticking to their non-dividend policies, leading to increasing discontent among shareholders.According to the Korea Exchange on March