Doosan Enerbility will carry out a modernization project to improve the performances of old power plants and build environmental facilities in Kazakhstan.Doosan Enerbility announced on April 24 that it has signed a memorandum of understanding (MOU) with the Ministry of Energy of Kazakhstan and KEPCO
Shinhan Card announced on Dec. 28 that Shinhan Finance, its subsidiary in Kazakhstan, will receive a joint investment of approximately 31 billion won over the next five years following the completion of a partnership agreement with Aster, a top-tier automotive dealer in Kazakhstan.The agreement enab
Daewoong Pharmaceutical announced on Dec. 1 that it has signed a contract to export Enavogliflozin, a SGLT-2 inhibitor, to a total of six countries in Russia and the Commonwealth of Independent States (CIS) region in association with the Russian pharmaceutical company JSC Pharmasyntez. The contract,
It has been revealed that the overseas subsidiaries of the top four domestic commercial banks achieved high performances in the third quarter of this year compared to the previous year.With the lifting of the COVID-19 lockdown in China, KEB Hana Bank and KB Kookmin Bank saw notably significant incre
While Korea’s exports rebounded for the first time in 13 months in October, the value of Korea’s exports to Eastern European countries surged. Eastern European countries included Poland, Hungary and Turkiye. In general, they had previously accounted for small proportions of Korea’s exports.The Korea
On Oct. 25, Shinhan Card announced that its Kazakhstan subsidiary, Shinhan Finance, successfully raised US$60 million in investment from the International Finance Corporation (IFC).The investment signing ceremony was conducted virtually and was attended by Moon Dong-kwon, president of Shinhan Card,
KT&G is building a new tobacco factory in Kazakhstan with the aim of securing a strategic foothold for exports to Europe, Russia, and Central Asian nations.KT&G announced on Oct. 12 that it held a groundbreaking ceremony for the new factory in Almaty Province, Kazakhstan, on Oct. 11, attended by CEO
Speculation is mounting that Hyundai Motor may follow the footsteps of Nissan, Renault, and Mazda, which withdrew from Russia under a “1 euro sale contract” that included a repurchase condition (buyback clause). Following the end of the war in Ukraine, the Russian government has suggested a buyback
Korea Institute of Energy Technology (KENTECH) signed a business agreement with Kazakhstan’s Nazarbayev University on Sept. 14 to foster global talent in the energy sector. This collaboration seeks to enhance inter-university exchanges in energy and research by fostering faculty and student exchange
The overseas performances of major commercial banks have improved in the first half of this year. The improvement in performance in China and Southeast Asian subsidiaries has supported this trend.In the first half of this year, the four major commercial banks collectively recorded a net profit of 60
Korean President Yoon Suk-yeol’s upcoming visit to Poland has raised expectations that Korean companies will be able to gain an edge in the second phase of Poland’s nuclear power plant project if the two countries strengthen cooperation in the field of green energy.After failing to win the first pha
Last year, South Korea’s cosmetics exports to China fell for the first time in five years. Amid the ongoing slowdown in the Chinese market, concerns about the leakage of business secrets of domestic companies have increased due to the Chinese government’s intensified cosmetics regulations since 2020
Overseas plant orders to Korean companies increased by more than 40 percent year on year in the first half of 2023. This is due to increased orders, including those for petrochemical facilities from the Middle East.According to the Ministry of Trade, Industry and Energy (MOTIE) on July 6, overseas p
Korea Expressway Corporation announced on June 16 that it participated in the opening ceremony of the 66 km Almaty Ring Road in Kazakhstan and began operation and maintenance of it.About 500 people attended the opening ceremony, including Kazakhstan’s Minister of National Economy Kuantyrov Alibek Sa
Korean credit card companies are growing fast in Southeast Asia. KB Card has risen to the top of the local car installment market share standings in Cambodia since making a foray into the country four years ago. Shinhan Card is also earning billions of won from its installment business in Vietnam an
The Russian government has reportedly rejected Hyundai Motor's application to sell off its Russian plant. As Toyota, Nissan, Renault, and Volkswagen have already said their goodbyes and left Russia, Hyundai has become the only global carmaker remaining there. With the possibility of a prolonged
Lotteria, a Korean hamburger franchise that opened in Korea in 1979, is focusing on expanding to overseas markets. The company is considering entering neighboring Singapore and Malaysia to capitalize on its success in the Vietnamese market where the Korean hamburger giant has enjoyed significant gro
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.KEPCO KPS’s 1Q23 OP likely beat consensus, driven by deferred sales and labor cost savings. At a time when Korea and the US are forecast to strengthen nuclear cooperation and Eastern Europe and the
People Power Party lawmaker Yoo Kyung-jun remarked on April 6 that the Incheon International Airport is supposed to have 1,890 security guards but was understaffed by 390 as of the end of March.The airport has recently revealed serious security vulnerabilities. On March 26, two people from Kazakhsta
Korea Hydro & Nuclear Power (KHNP) is holding a science and technology event from March 28 to 31 at the KHNP headquarters and the facilities of nuclear power-related organizations by inviting experts from countries that are operating nuclear power plants.The International Atomic Energy Agency (IAEA)