The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. In addition to Governor Lee Ju-yeol alluding to a key rate hike by yearend, the MOEF seems to accept the possibility of a rate hike. Also, the possibility of two hikes by yearend cannot be ruled out
Hyundai Engineering has been selected as the preferred bidder for a 2.7-trillion-won plant construction project in Poland, the company announced on May 25.The company was selected as the preferred bidder for the Poland PKN Olefin Expansion Project in Plock, Poland, the largest-ever petrochemical pla
The South Korean government’s stance on the possibility of inflation is changing. The Ministry of Economy and Finance remarked on May 17 that the current risk factors include the possibility of a rise in interest rates.The government’s public remarks to this effect are for the first time since 2011
Deputy Prime Minister Hong Nam-ki remarked on April 27 that virtual assets are neither currencies nor financial assets and that taxation on income from virtual assets will be initiated next year as scheduled.“The South Korean government uses the term of virtual asset instead of cryptocurrency and vi
The first trial on the case of Samsung C&T merger and Samsung Biologics’ accounting fraud allegations took place in Seoul on April 22. Every defendant, including Samsung Electronics vice chairman Lee Jae-yong, denied every allegation.“The vice chairman succeeded to Samsung Group and strengthened his
Deputy Prime Minister Hong Nam-ki remarked on April 20 that the government is examining whether MagnaChip has a national core technology in the display sector and the sale of the company to China will be determined based on the result of the examination.At present, the national core technologies of
The South Korean government is working on countermeasures amid the U.S.-China hegemonic rivalry in the global semiconductor industry and the measures are slated to be made public in the form of its K-Semiconductor Belt Strategy. President Moon Jae-in will preside over an economic ministerial meeting
The South Korean economy moved up two notches by beating Brazil and Russia and became the 10th-largest economy in the world last year, according to the IMF World Economic Outlook.According to the outlook, South Korea’s GDP per capita was US$31,497 in 2020. It exceeded that of Italy (US$31,288) for t
Choi Byung-am, deputy minister of the Korea Forest Service (KFS), has been appointed as the 33rd minister of the forestry agency.Choi is an expert in forest administration with 28 years of experience. Since passing the public administration exam, he has held key posts in the Korea Forest Service, in
Lawmakers of the U.S. State of Georgia have adopted a resolution calling on LG Energy Solution and SK Innovation to reach an agreement to end their electric vehicle (EV) battery dispute.The Georgia State Senate unanimously passed a resolution on March 23 (local time) urging the two Korean companies
The Korea Institute of Public Finance said in its report on March 8 that South Korea’s government debt-to-GDP ratio was 41.9 percent in 2019, the sixth-highest among those of the 14 OECD members that are non-key currency countries. The 23 key currency countries include the United States, Japan, Germ
The U.S. Transportation Department will assess the impact of the International Trade Commission’s recent ruling against SK Innovation on President Joe Biden’s green transportation goals, Reuters reported on March 4, quoting the nominee for the department’s No. 2 post.Deputy Transportation secretary
The South Korean government announced a supplementary budget of 15 trillion won along with 19.5 trillion won in COVID-19 relief funds on March 2. That day, Deputy Prime Minister Hong Nam-ki remarked that South Korea’s government debt-to-GDP ratio would reach 50 percent in a couple of years at the cu
Deputy Prime Minister Hong Nam-ki announced on Jan. 26 that the supply of 20 key industrial materials, components and equipment would be completely stabilized this year with regard to Japan’s export restrictions against South Korea.“The government achieved the stable supply for three items last year
Korea Ginseng Corporation(KGC) signed a memorandum of understanding on cooperating in developing immunity boosters with the International Vaccine Institute (IVI) on Dec. 3.The signing ceremony was held at the International Vaccine Institute at Seoul National University with Jerome Kim, secretary-gen
Lotte Group conducted a regular year-end executive reshuffle at its 35 affiliates in the distribution, food, chemical and hotel sectors on Nov. 26.The group reduced the number of executives by 20 percent compared to 2019. It had about 30 percent of the executives step down and limited the number of
Governor of Gyeonggi Province Lee Jae-myung and Acting Mayor of Seoul Seo Jung-hyup kicked off the virtual “New Zealand Tech Roadshow in Korea 2020” by providing welcoming remarks to over 40 participants, which included tech companies and non-commercial stakeholders from New Zealand and Korea.In his
Business leaders of South Korea and the U.S. called for the revision of Section 232 of the United States Trade Expansion Act at the 32nd general meeting of the Korea-U.S. Business Council on Nov. 17.The meeting was jointly hosted by the Korean Federation of Industries and the U.S. Chamber of Commerc
With the establishment of an advanced Coupang Fulfillment Center in Jecheon, North Chungcheong Province, 500 new local jobs will be created. The e-commerce giant announced on Nov. 5 that it had signed a memorandum of understanding (MOU) with the governments of North Chungcheong Province and the city
The Korea Forest Service signed an agreement with the Korea Agricultural Machinery Industry Cooperative on Oct. 28 to promote the use of Korean-made machinery and equipment in forestry development projects in developing countries.The business agreement is intended to ensure that Korean machinery man