Hanwha Life Insurance has become the first domestic insurance company to venture into overseas banking.The company announced on April 24 that it will acquire a 40 percent stake in Nobu Bank held by Lippo Group, the sixth largest conglomerate in Indonesia. The process of equity investment will be fin
LG CNS announced on March 27 that it has signed an investment agreement for the establishment of a joint venture with Indonesia’s Sinar Mas.Through this agreement, the two companies will establish a joint venture (JV) in Indonesia. The JV will target Indonesian businesses and public customers, pushi
The police have launched a forced investigation into Korea Aerospace Industries (KAI) following the detection of an attempt by Indonesian employees dispatched to KAI to leak documents related to the Korean fighter jet KF-21.This action comes 24 days after a government joint investigation team, consi
Shinhan Bank announced on March 14 that Shinhan Bank Indonesia has signed a strategic business agreement with Indonesian electronic payment company Indodana (PT Artha Dana Teknologi Indodana) to expand its digital platform-based lending market.Indodana is a digital payment solutions provider that ha
To strengthen its global operations, Shinhan Bank is accelerating the development and marketing of products targeting local customers, including the launch of digital loan products overseas.According to Shinhan Bank on March 12, Shinhan Bank Indonesia is partnering with local fintech platform compan
Pharmaceutical companies are expanding their presence into Southeast Asia, particularly Indonesia and Vietnam. There is a high preference for Korean products and a high growth potential in these markets, leading to strong optimism about the possibility of expansion. Among these countries, Indonesia
It has been belatedly confirmed that an Indonesian researcher working on secondment at Korea Aerospace Industries (KAI) is being investigated for alleged leakage of data related to the South Korean supersonic fighter jet, the KF-21 “Boramae.” It has been reported that a total of 49 files were discov
Hanwha Life Insurance President Kim Dong-won attended the Davos Forum held in Switzerland from Jan. 15 to 19.Visiting Davos for the second consecutive year, President Kim Dong-won conducted over 10 business meetings during the event. He focused on determining the direction of Hanwha Life Insurance’s
LX International announced on Jan. 16 that it has acquired 60% ownership of the AKP mine in Indonesia for 133 billion won (US$98.9 million), securing management rights.The acquisition was completed through LX International’s Indonesian subsidiary PT.EBI, which paid the full price for the AKP mine st
Flitto (CEO Simon Lee, KOSDAQ 300080), a leading language data and translation service provider, announced on the 14th that it had discussions on plans to collaborate on AI technology with three emerging AI startups representing the ASEAN region at its Seoul headquarters on the 12th.The three ASEAN
Daewoo Engineering & Construction (E&C) announced that Chairman Jeong Won-ju, having completed his schedule in Singapore, proceeded to Indonesia, which is celebrating the 50th anniversary of diplomatic relations with Korea. In Indonesia, he continued discussions with key stakeholders to explore busi
Korea Hydro & Nuclear Power (KHNP) has signed a memorandum of understanding (MOU) with Nusantara Power, a subsidiary of the Indonesian electric power company PLN, for the introduction and construction of innovative Small Modular Reactors (SMR) in Indonesia. The MOU was signed on Dec. 1 (local time)
STX announced on Nov. 30 that the drilling exploration results for prioritizing production areas in the Sulawesi nickel mine, where it secured a 20% stake last August, revealed a saprolite layer with a nickel content of 1.6%.Nickel ore with a pure nickel content of over 1.6% after impurity removal i
Hanwha Life has established a “Digital Family Center” in Indonesia for local women and children and celebrated its completion on Nov. 29. The center, located within the Agency for the Empowerment of Child Protection and Population Control (PPAPP) building in Jakarta, spans two floors. It includes an
Korean low-cost carriers (LCCs), which have been adding aircraft to expand their mid- to long-haul routes, are seemingly disappointed over their plans to launch new routes to Indonesia.Major Korean LCCs are considering scrubbing plans to launch routes to Indonesia this year, according to industry so
It has been revealed that the overseas subsidiaries of the top four domestic commercial banks achieved high performances in the third quarter of this year compared to the previous year.With the lifting of the COVID-19 lockdown in China, KEB Hana Bank and KB Kookmin Bank saw notably significant incre
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.With profits from its E&P division, LXI is continuing its eco-friendly transition. The firm is entering the rechargeable battery value chain with its acquisition of the AKP nickel mine in Indone
As the sole company with a comprehensive portfolio in the naval industry, Hanwha Ocean contributes to strengthening the Republic of Korea’s naval power by leveraging world-class vessel and submarine construction capabilities.Starting with the delivery of the patrol vessel “Anyang” to the Republic of
Seven Korean companies, including LG Electronics, Lotte Chemical and Samsung Fire & Marine, have joined RE100 this year, bringing the total number of Korean companies to 34, according to the U.K.-based Climactic Group on Nov. 3.This means that Korea has the fourth-most number of companies after the
HD Hyundai Oilbank announced on Oct. 31 that they have signed contracts to purchase approximately 40,000 tons of Palm Fatty Acid Distillates (PFAD) each year from the Korindo Group and LX International, totaling around 80,000 tons.Ahead of the commercial operation of a biodiesel plant with an annual