This year marks the 40th anniversary of Incheon’s separation from Gyeonggi Province for autonomous local governance. On July 1, Incheon City held a ceremony with citizens to celebrate the anniversary.Changes in Incheon for the Past 40 YearsIncheon became a city under the direct control of the centra
The Presidential Committee on Carbon Neutrality released three scenarios for carbon neutrality by 2050 and two of the three include the concept of Northeast Asia Grid.The concept is to install power transmission networks in China and Russia to bring in electricity. The amount is expected to reach 33
The Ministry of Land, Infrastructure and Transport announced on May 21 that it would connect roads and railways between South and North Koreas by 2040 in an effort to lay a foundation for economic integration between the two.The plan was announced at the public hearing the Korea Transport Institute
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed.Maintain POSITIVE for Korea Construction on post-election outlookWe maintain our POSITIVE rating for the Korea Construction sector and recommend a basket trade for large builders. Since 2H20, construction
With China-led global value chains collapsing in the wake of COVID-19, the global enterprises’ rush out of China is predicted to accelerate under the Joe Biden administration. Google, Microsoft, Foxconn and so on already initiated the relocationThe new U.S. president mentioned the restoration of all
The prosecution announced on Jan. 29 that some officials at the Ministry of Trade, Industry and Energy deleted 530 sets of nuclear power plant-related data immediately before an inspection by the Board of Audit and Inspection and the data included a large number of documents related to nuclear power
Major financial holding companies are planning to invest at least 70 trillion won for five years to come in the South Korean government’s New Deal Fund, which was announced on Sep. 3 and is scheduled to reach 20 trillion won in size.Under the circumstances, concerns are mounting over political press
The Korea Institute for International Economic Policy (KIEP) has advised South Korea and North Korea to enter a new stage of economic cooperation by concluding a comprehensive economic partnership agreement.The KIEP said in its recent report that the North Korean economy has remained stagnant since
The ruling Democratic Party of Korea said that the government has sufficient fiscal room with regard to its efforts to maintain fiscal soundness. “The average debt ratio of OECD member states is 110 percent and what we need now is a proactive response to a crisis although it is indeed important to c
The South Korean government is planning to restore the Gangneung-Jejin section of the Donghae Bukbu Line in 53 years in commemoration of the second anniversary of the April 27 Panmunjom Declaration.The Ministry of Land, Infrastructure and Transport and the Ministry of Unification held a ceremony for
The author is an analyst of Shinhan Investment Corp. He can be reached at eoyeon.hwang@shinhan.com. -- ED. 1Q20 OP of KRW11.7bn (TB YoY) exceeds consensusHyundai Rotem posted operating profit of KRW11.7bn (+918.4%YoY) on sales of KRW670.5bn (+13.6% YoY) for 1Q20, beating the market consensus (operat
2019 was a fruitful year for the Incheon Free Economic Zone (IFEZ) as it exceeded its foreign direct investment (FDI) attraction goal by as much as 43 percent. Yet IFEZ needs to change its FDI attraction strategy this year as the South Korean government has abolished or reduced incentives for FDI an
The Yomiuri Shimbun reported on Jan. 27 that the U.S. government raised an objection to the South Korean government’s intention to move ahead with inter-Korean economic cooperation projects including Mt. Kumgang tourism and the Kaesong Industrial Complex.According to the newspaper, National Security
South Korean President Moon Jae-in and Chinese Prime Minister Li Keqiang had a meeting on Dec. 23. There, the former said that inter-Korean railway and road connection for logistics networks to cover China, Europe and Eurasia will form the foundation of a new multilateral peace and security regime.A
The Korea International Trade Association announced on Dec. 2 that North Korea’s trade with China accounted for 91.8 percent of the total trade value of North Korea last year, increasing more than five-fold in seven years.Back in 2001, Japan, China and South Korea accounted for 30.1 percent, 17.3 pe
Bilateral relations between the United States and China, between China and Japan, and between the two Koreas are changing fast. The U.S.-Japan alliance has evolved fast under the Shinzo Abe administration, expanding its scope to the Indo-Pacific region. The bilateral relationship between Japan and C
The 34th general directors conference of the Organization for Cooperation between Railways (OSJD) was held in Seoul on April 11.The OSJD is an international organization created for the operation of international railways between Europe and Asia. South Korea joined the organization as a regular memb
Incheon Metropolitan City is aiming to become a hub for “peace and future tourism” by building a tourism belt on the West Sea that is connected to Kaeseong and Haeju of North Korea.Incheon Mayor Park Nam-chun unveiled the city’s ambitious plan at a meeting on the nation's tourism strategy chaire
Voice of America (VOA) reported on April 6 that firms at the Kaesong Industrial Complex appealed to the United States Department of State to lift its sanctions on North Korea with regard to inter-Korean economic cooperation projects but the State Department turned down their request.The firms recent
Korea Chamber of Commerce and Industry Chairman Park Yong-man has pointed out that there should be a reference for the National Pension Service’s stewardship code application.“I have advocated stewardship code introduction so that companies’ deviations can be prevented by institutional investors’ du