As Russia has been excluded from the Morgan Stanley Capital International (MSCI) Emerging Markets (EM) Index, around 1 trillion won will flow into the Korean stock market, analysts forecast.The MSCI announced on March 2 that it has reclassified the MSCI Russian Indexes from "emerging markets" to "st
A shock wave caused by Russia’s invasion of Ukraine is spreading across the Korean economy. In particular, Korea’s three major industries -- semiconductors, petrochemicals, and automobiles -- are vulnerable to shocks from the invasion.The Korean semiconductor industry has to act quickly as it depend
The Korea Trade-Investment Promotion Agency (KOTRA) said in its recent report that South Korean companies need to step up their collaboration in Russia, which has huge potentials in terms of renewable energy development.According to the report, the potentials of Russia are second to none in the worl
Korus Pharm has formed a consortium to produce Russia's Sputnik V COVID-19 vaccine.Korus Pharm signed a memorandum of understanding with seven Korean companies on Feb. 25 to launch the consortium. The seven included Binex, ISU Abxis, Boryung Biopharma, Chong Kun Dang Bio, Quratis, Humedix and An
The Korea Disease Control and Prevention Agency announced on Feb. 8 that South Korea might consider importing Russia’s Sputnik V vaccine in view of variants, supply issues and other uncertainties.The agency changed its stance in four days. Last week, it said that it was not considering doing so. Thi
South Korea and China are competing for ice-breaking LNG carrier building contracts in Russia. Although South Korea is superior in shipbuilding technology, China is trying to catch up based on private-public cooperation and its investment in Russia’s LNG development project.In Russia’s Arctic LNG 2
As an increasing number of shipping companies are recently seeking to place orders to construct the liquefied natural gas (LNG) carrier, expectations are growing among South Korea’s three largest shipbuilders that they will receive the order. A LNG carrier is the sector in where the nation’s three s
The Born2Global Center, a Korean start-up support organization, announced that the center has signed a joint protocol and an MOU with the Skolkovo Innovation Center and the Internet Initiative Development Fund (IIDF) in Russia to promote the foundation of start-ups in the ICT sector in Korea and Rus
According to the Association of European Businesses (AEB) on January 16, the Hyundai Solaris sold 90,380 units in Russia last year, becoming the best-selling car among all vehicles sold in the country.In particular, it beat its long Russian rival the Lada Granta of Russian automaker AvtoVAZ, which s
The Hyundai Solaris compact passenger vehicle, marketed as the Accent elsewhere, became the best-selling car among all vehicles sold in Russia in the first half of the year. It is the first time for Hyundai Motor Co. to rank first in terms of sales as of a half-yearly settlement, beating Russian aut
Hyundai Engineering Co. announced on Apr. 20 that it held a groundbreaking ceremony for the Kandym gas processing plant in Uzbekistan on the 19th. The total amount of the project is US$2.66 billion (3.01 trillion won) and Hyundai Engineering's portion is US$2.01 billion (about 2.28 trillion won).The
According to industry sources on March 18, the Korean government held the 1st Korea-Russia investment promotion working session on the 4th to discuss ways to strengthen the economic cooperation between the two countries, making a recommendation to the Russian government to fulfill a long-term supply
China has called for the resumption of the stalled six-party talks. To allay concerns over North Korea’s nuclear program, Chinese Foreign Minister Wang Yi urged the six parties involved in talks about North Korea's nuclear program to make a concerted effort to create conditions for the resumption of
Known as the Arirang-3A, the Korea Multipurpose Satellite-3A was successfully deployed in space and established radio contact with Korea's ground station. The Korea Aerospace Research Institute (KARI) said that the satellite is operating properly, and all of its solar panels have deployed for power.
Daewoo Shipbuilding and Marine Engineering (DSME) maintains its good performance in the liquefied natural gas (LNG) carrier market. It is continuously making successes in getting orders in LNG carrier market, which has become a niche market, while orders of offshore plant are slowing down due to glo
Russia is making an aggressive proposition to South Korea for capital attraction and joint investment in North Korea.According to the government, Russian Deputy Prime Minister Yuri Trutnev is scheduled to visit Seoul early next month to ask for its investment in the Far East region of Russia and joi
A Chinese professor is attracting attention by reportedly raising some questions about the long-discussed railroad project to link South Korea via North Korea to Europe. In an interview with China’s state-run Global Times on November 28, Zhou Yongsheng, professor of the Institute of International Re
South Korea and Russia are going to sign a memorandum of understanding for comprehensive transportation cooperation to utilize the Trans-Siberian Railway (TSR). According to an industry source on November 6, as a test project to implement the MOU, a private Korean consortium will enter into North Ko
The state-run Korea Gas Corporation (KOGAS), Korea's sole LNG provider, signed a contract on January 28 to invest $1.05 billion in the development of the Badra oil field in Iraq over the next 20 years. KOGAS participated in the international bid conducted by the Iraqi central government in December
Incheon International Airport (IIAC) won the ACI (Airports Council International) Annual Airport Service Quality (ASQ) Award for the world's best airport for the fifth year in a run. Incheon International Airport once again scored the highest marks in the survey in three categories to become the Bes