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
Amid growing global attention on the Middle East due to an armed conflict between Israel and the Palestinian militant group Hamas, the number of overseas subsidiaries established by large Korean companies has surpassed 110 in major Middle Eastern countries, according to a survey.The Korea CXO Instit
Last year, South Korea’s private debt growth rate relative to its gross domestic product (GDP) was reported to be the highest in the world. While households and businesses are reducing their debt in most countries in the aftermath of COVID-19, South Korea is drawing attention for moving in the oppos
The Chinese government has decided to virtually fully permit overseas group travel for its citizens for the first time in over three years since the onset of the COVID-19 pandemic. Consequently, Chinese group tourism to South Korea will resume after more than six years, unlocking the travel restrict
According to the SK SUPLEX Council on July 24, Korean Arts Week, sponsored by SK Group and Korea Investment & Securities, concluded successfully at Lincoln Center in New York, the U.S., with the enthusiastic participation of more than 10,000 local residents and rave media reviews.Korean Arts Week, h
Kim Jin-yong, commissioner of the Incheon Free Economic Zone Authority (IFEZ), announced on June 13 that the organization has signed a memorandum of understanding (MOU) with Eric Leung, the representative of AISL Harrow International School, the incorporation for the establishment of the Asian branc
FILA Holdings Corp., which operates the global sports brand, FILA, announced on Nov. 8 its reorganization of key global teams, heralding a shift in marketing and design leadership.The new structure aims to strengthen the company’s organizational capabilities in order to successfully execute its five
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Stable 3Q22 earnings excl. one-offs— Samsung Engineering posted 3Q22 preliminary consolidated revenue of KRW2.5tn (+40.7% YoY, -1.4% QoQ), OP of KRW160.5bn (+15.5% YoY, +4.6% QoQ) and NP (attributable to
The authors are analysts of Shinhan Investment Corp. They can be reached at idh@shinhan.com and jiunmyoung@shinhan.com, respectively. -- Ed. Takeaways from DX Korea 2022Defense Expo Korea (DX Korea) is a platform for land forces equipment exhibition. This year marks the fifth biennial event since it
Daewoo Engineering and Construction (Daewoo E&C) broke ground for a new research reactor and ancillary facilities in Gijang-gun, Busan on Aug. 31.The new research reactor was developed by the Korea Atomic Energy Research Institute for the purpose of exporting. The 15MW reactor will feature such tech
Korea Plant Service & Engineering (KPS), a subsidiary of Korea Electric Power Co. (KEPCO), posted 209.4 billion won in overseas sales in 2021, an all-time high and up 31 percent from a year ago.The company’s overseas business started in Iraq in 1982 as a thermal power plant maintenance project. In 1
Korea Southern Power announced on Sept. 8 that it held a completion ceremony for a wind power plant in Amman, Jordan, on Sept. 7 (local time).Korea Southern Power and DL Energy invested a total of 120 billion won, 50 percent each, to build and operate 15 3.45-MW wind power generators in Tafila, Jord
Korea Asset Management Corp. (KAMCO) announced on Aug. 17 that it will conduct online training for 24 Jordanian finance ministry officials to pass on its expertise in management of state-owned assets.The training program is part of the Korea International Cooperation Agency (KOICA)’s global training
LG Chem announced on Aug. 4 that it has started to mass produce and export the world’s first bio-balanced super absorbent polymer (SAP).Bio-balanced SAP refers to SAP produced with renewable raw materials such as waste and residue oils and fats. LG Chem received ISCC Plus certification for its new p
Korea Southern Power said on July 31 that it has begun commercial operations of the Jordan Tafila Wind Power Project.The Tafila project is the first overseas wind power project promoted by Korea Southern Power. It involves building and operating a 51.75MW wind power plant in Tafila, Jordan with a to
The Ministry of Land, Infrastructure and Transport announced on April 27 that 39 countries submitted 111 applications for participation in the K-City Network Global Cooperation Program and the numbers increased by 16 and 31 compared to last year, respectively. The applications were made between Feb.
Daesang has started to sell fresh food products of its Chungjungone and Jongga brands in the Middle East, a market with 4 billion people.Daesang announced on Nov. 26 that its fresh food products such as kimchi, tofu, rice cakes, pickled radish, burdocks, fried bean curd with vinegared rice, and radi
A small modular nuclear power plant project in the United States promoted by Doosan Heavy Industries & Construction has got the green light from the U.S. nuclear regulatory authority.Doosan Heavy Industries & Construction announced on Aug. 30 that a small modular reactor (SMR) model developed by NuS
The 51 MW wind power plant in Jordan being built by Korea Southern Power Co. (KOSPO) is unlikely to be completed as scheduled, and as a result, the Korean power company may have to pay compensation for the delay.KOSPO has suffered a delay in launching the project. It had difficulty securing a plant
KEPCO KPS, a company specializing in maintenance of power plants, will operate and maintain a power plant in Uruguay for up to eight years.The Korean company will provide long-term operation and maintenance (O&M) services for the combined cycle power plant in Punta del Tigre, Uruguay, which has been