Controversy over AliExpress’ and Temu’s harmful content for teenagers has not subsided.Despite constant criticism from Korean consumer organizations, the two Chinese e-commerce giants’ measures have been insufficient, and responses came late from the Korean government.According to a recent report, a
The Korea National Railway announced that it has successfully hosted the “Korea-Vietnam High-speed Railway Technology Exchange” on March 19, with the visit of the Vietnam Ministry of Transport Technical Survey Team to its Daejeon headquarters.The Korea-Vietnam High-Speed Railway Technology Exchange
The relationship between South Korea and Russia is reaching a desperate situation while the two countries celebrate the 34th anniversary of diplomatic relations this year.Earlier this year, an unusual incident occurred when a South Korean missionary, who was engaged in aid and missionary activities
Chinese online shopping platforms AliExpress, Temu, Shine and other overseas business operators over a certain size will be required to have representatives in Korea. This new policy is aimed at making them responsible for consumer protection.Unlike AliExpress, which currently has a legal entity in
It has been revealed that the hourly wages of domestic helpers in South Korea are more than four times higher than in neighboring countries such as Hong Kong and Taiwan. In an effort to alleviate the burden of caregiving services, which is considered one of the causes of low birth rates, the Bank of
The Ministry of Science and ICT announced that it participated in the ministerial session held at the Mobile World Congress (MWC) 2024, the world’s largest mobile exhibition in Barcelona, Spain, on Feb. 27. During the event, it introduced the South Korean government’s policies regarding the safe uti
The Monetary Policy Board of the Bank of Korea (BOK) has decided to maintain the key interest rate at the existing level of 3.50 percent. Despite the domestic inflation rate falling to the 2 percent range, it is deemed difficult to consider it as having reached a stable level, especially considering
Executives and experts from domestic e-commerce companies such as Coupang are collaborating to develop strategies in response to the aggressive expansion efforts of Chinese e-commerce platforms including AliExpress and Temu.According to industry sources on Feb. 14, the Ministry of Trade, Industry an
The South Korean government has approved new projects worth 13.8 trillion won (US$11.5 billion) under the Economic Development Cooperation Fund (EDCF) to be implemented by 2026, with 6.5 trillion won to be disbursed. Established in 1987, the EDCF is a fund for concessional loans aimed at supporting
The government has announced its plan to expand the global Korean cuisine industry to a scale of 300 trillion won by 2027. The strategy involves increasing the number of overseas Korean restaurants to 15,000 and more than tripling the number of Michelin-starred Korean restaurants compared to the cur
The South Korean government is gearing up for the successful launch of its own version of NASA, the Korean Aerospace Administration (KAA), set to open in May. The Ministry of Science and ICT reported on Jan. 29 that it has been engaging with major international space agencies, including the U.S. Nat
Doosan Enerbility is advancing its efforts to supply carbon-neutral power generation technologies, including Carbon Capture, Utilization, and Storage (CCUS) and ammonia co-firing, renewables, and hydrogen to Thailand. On Jan. 29, the company announced the signing of a memorandum of understanding (MO
The first round of official negotiations to improve the Korea-U.K. Free Trade Agreement (FTA) are being held in Seoul.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Jan. 23 that more than 50 delegates from both countries are participating in the negotiations, led by Ahn Chang
Hana Bank announced on Jan. 17 (local time) that it has been honored with the “Best Trade Finance Provider in Korea 2024,” an award presented by the global financial and economic publication Global Finance.With the latest award, Hana Bank has achieved a remarkable feat by winning the “Best Trade Fin
The Ministry of Trade, Industry and Energy (MOTIE) announced on Jan. 18 that Deputy Trade Minister Yang Byung-nae met with a delegation of companies, including Solid Power Chief Operating Officer Derek Johnson, who visited the ministry to discuss cooperation in the field of next-generation batteries
With the re-addition of Guatemala, the only Central American country that had previously withdrawn from the Free Trade Agreement (FTA) with South Korea and Central American nations, the FTA has reached its final completion.The Ministry of Trade, Industry, and Energy (MOTIE) announced that it formall
The Korean government has temporarily postponed the dispatch of an additional reconstruction cooperation team to Ukraine. This is due to a combination of changes in the international situation due to the prolonged Ukraine-Russia war and a reshuffle of the Yoon Suk-yeol administration of Korea.Accord
For the first time in four years, business leaders from South Korea and China are meeting in Seoul to identify industries for cooperation between the two countries and to discuss future initiatives such as supply chain cooperation and carbon neutrality.The Korea Chamber of Commerce and Industry (KCC
A luncheon meeting of labor, management and government representatives was held at a Korean restaurant in Gwanghwamun, Seoul, on Dec. 14, according to the Ministry of Labor and Employment and Economic, Social and Labor Affairs Committee, a presidential social dialogue body. This marked the first tim
The Korean government will provide 38 trillion won (US$29 billion) in financial support, including expanding loan limits and debt guarantees for the Korean secondary battery industry over five years. A separate bill will also be prepared to support the growth of a used battery industry ecosystem.The