CJ Logistics announced on April 18 that it has signed a customs clearance and delivery service agreement with NinjaVan to strengthen its logistics business for consumers in Southeast Asia that buy Korean goods through cross-border shopping.NinjaVan, a logistics company founded in Singapore in 2014,
As of last year, the cumulative overseas sales of the Korea Electric Power Corporation (KEPCO) reached a total of 41.8 trillion won (US$30.29 billion). More than half of the overseas sales came from nuclear power projects.According to KEPCO on April 18, the cumulative overseas sales of the company a
In 2023, about 20 percent of the 1.43 million resident foreigners in Korea obtained Korean language proficiency test ratings. The biggest share was taken by international students studying in Korea among them. The largest number of them earned a Level 4 rating.According to the results of the 2023 Im
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
After the Korean government has announced a strategy to secure 33 key minerals used in high-tech industries, including lithium and graphite, by reducing its dependence on China to 50 percent by 2030, Korea’s dependence on China for some key items began to shrink in 2023.Korea’s lithium hydroxide imp
barenbliss, a rising clean beauty brand from Seoul , is thrilled to announce the grand opening of its inaugural global flagship store ----the barenbliss Clean Beauty Archive Garden in Myeongdong. Meanwhile, the brand also announced a collaboration with Korlma Korea at the opening ceremony to establi
Incheon International Airport Corporation (IIAC) has secured a contract for the largest overseas airport development and operation project in its history, expected to generate sales of 37 trillion won in the Philippines.On Feb. 16, it was announced that Incheon International Airport Corporation won
The European Union (EU)’s decision to approve a Korean Airlines-Asiana Airlines merger is fast approaching, drawing more attention from the airline industry. While many experts believe that approval will be given with some conditions, a formal outcome has not come out, keeping both airlines on edge.
Korean defense companies are set to continue their growth trajectory this year by securing additional orders from various countries around the world. Building on last year’s momentum, which saw an expansion in both the range of export destinations and weapon systems, these companies are aiming for q
KT has announced its plans to construct a new submarine cable to meet the surging demand for cloud, big data, and internet traffic between Asian countries. On Jan. 24, KT signed a memorandum of understanding (MOU) for the Asia Link for advanced Performance of High-speed Access (ALPHA) project, aimed
Starting from the second half of this year, South Korean companies will have the option to settle export and import payments in Korean won when engaging in trade transactions with certain countries from the Association of Southeast Asian Nations (ASEAN). This move is expected to allow businesses to
As the food industry is gaining ground in overseas markets thanks to the global craze for K-pop and other aspects of Korean pop culture, three Korean fried chicken companies are also determined to actively explore new markets this year. In addition to Asian countries such as Taiwan and Singapore, th
비지니스코리아 Michael Herh (pr@businesskorea.co.kr)HD HHI and Hanwha Ocean have mapped out plans to reduce the proportion of merchant ship orders this year and focus on the naval vessel business in 2024.On Jan. 3, HD HHI set a US$988 million order target for its specialty ship (naval vessel) business, whi
Leading defense industry companies in South Korea, including Hanwha Aerospace, Korea Aerospace Industries (KAI), LIG Nex1, Hyundai Rotem, and Hanwha Ocean, have hit “contract jackpots” in countries like Poland and Australia, marking a significant shift for South Korea from a defense equipment import
Woongjin Food announced that it won the ‘the ‘$20 Million Export Tower’ award at the 60th Trade Day commemorative event.The award ceremony for the Top Exporter is scheduled to take place under the auspices of the Korea Trade Association on Trade Day every December 5. The association honors companies
On Dec. 12, Canada’s renowned coffee brand, Tim Hortons, held a media event at its first domestic location, the Sinnonhyeon Station branch in the Gangnam district of Seoul. During the event, the company unveiled the reasons behind its entry into the South Korean market and discussed its strategies f
This year marks the 60th anniversary since the release of ramen in Korea, and its export revenue has exceeded 1 trillion won for the first time in history.According to the trade statistics from the Korea Customs Service on Dec. 10, the export revenue of ramen from January to October this year reache
South Korean shipbuilding companies are actively considering the construction of overseas production bases to address a shortage of manpower. However, some are raising concerns about potential “technology leakage” arising from the construction of overseas shipyards.According to industry sources on N
HD Hyundai Heavy Industries held a keel-laying ceremony on Nov. 22 at its Ulsan shipyard for the first of the 3,200-ton class Philippine patrol vessels, attended by naval and defense industry officials from both South Korea and the Philippines.The 3,200-ton class patrol vessel, constructed by HD Hyu
The export revenue of ramen, which celebrates its 60th anniversary this year, has surpassed 1 trillion won for the first time in history.According to trade statistics from the Korea Customs Service on Nov. 20, the export revenue of ramen for the first 10 months of this year reached US$785.25 million