While Korea’s exports rebounded for the first time in 13 months in October, the value of Korea’s exports to Eastern European countries surged. Eastern European countries included Poland, Hungary and Turkiye. In general, they had previously accounted for small proportions of Korea’s exports.The Korea
Korea has posted a current account surplus for the fifth consecutive month. The Bank of Korea (BOK) forecast that Korea will be able to reach an annual current account surplus of US$27 billion by steadily enjoying current account surpluses.The BOK said on Nov. 8 that the current account posted a sur
The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Justice (MOJ) announced on Nov. 7 that a total of 14,359 production workers were injected into the Korean shipbuilding industry through the first three quarters of this year. The workers included Korean workers, foreign specializ
The Ministry of SMEs and Startups led by Minister Young Lee and the Saudi Small and Medium Enterprises Authority headed by Sami bin Ibrahim Alhussaini announced that they held bilateral talks in Seoul on Nov. 7 to discuss the establishment of the Korea-Saudi SMEs and Startups Cooperation road map.Th
Forbes today unveiled its 2023 Asia’s Power Businesswomen list, honoring 20 successful female leaders across the Asia-Pacific region, who operate in a broad range of industries including finance and banking, property, technology and commodities. The complete list can be found in the November issue o
The Korean defense industry is growing rapidly as the world recognizes the excellence of Korean-made weapons. At the center of the Korean Defense Industry gripping the global arms market is the Korea Defense Industry Association (KDIA).Founded in 1976, the KDIA is a specialized defense industry orga
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
Global startup event Come Up 2023, hosted by the Ministry of SMEs and Startups and managed by the Korea Startup Forum (KSF), will be held for three days from Nov. 8 at Dongdaemun Design Plaza (DDP) in Seoul.Minister Lee Young emphasized that this event aims to globalize and serve as a growth platfor
The slow growth of South Korea’s per-capita income widened its income gap with the Group of Seven (G7) countries. In 2020, the nation surpassed Italy in the GNI per capita standings, celebrating its economic takeoff to rival G7 economies. But South Korea stayed above Italy for only one year, and its
While the global economy faces a downturn, domestic beauty industry leaders like Amorepacific and LG Household & Health Care are grappling with challenging times. In stark contrast, Kolmar is flourishing on its own. Amid the repercussions of the economic downturn, the consumer market has experienced
The Ministry of SMEs and Startups (Minister LEE Young, hereinafter referred to as MSS) and the Korea Startup Forum (KSF, Chairman PARK Jae-wook, CEO of SOCAR) held a press briefing on COMEUP 2023 at Dreamplus in Gangnam-gu, Seoul on October 30.COMEUP is an annual event aimed at showcasing South Kore
Following the pandemic, South Korea remained in the middle to lower range in terms of growth rates among advanced economies. However, it ranked higher in terms of price stability indicators. This suggests a ‘trade-off’ between investment-led growth expansion and tight fiscal policy.According to the
Daewoo E&C announced on Oct. 25 that it is promoting its entry into the Eastern European nuclear power plant market in earnest.Demand for nuclear power generation has been growing again in Europe recently due to energy price uncertainties, increasing orders of nuclear power plants and related fields
The proportion of so-called “zombie companies” unable to cover interest costs with their operating profit has reached its highest level since 2009, standing at 42.3 percent last year. Due to the global economic slowdown and the impact of high interest rates, corporate underperformance persisted in t
In March 2021, Seo Jung-jin, the honorary chairman of Celltrion, declared his retirement, stating, “If there are any deficiencies in management, I will be prepared to play a firefighter’s role.” However, just two years later, in March of this year, he made a surprising announcement of his return to
The Korea-Canada Project Exploration and Investment Collaboration Business Forum was held at the Four Seasons Hotel in the Jongno district of Seoul on Oct. 25.The Korea Trade Insurance Corporation (K-SURE) held a joint meeting with the Export Development Canada (EDC) on Oct. 25 to strengthen the exp
The top 13 countries in global greenhouse gas (GHG) emissions account for 70 percent of all GHG emissions. As global GHG emissions continue to rise, it will be difficult to reach the 2030 Nationally Determined Contribution (NDC) target, many experts expect.The Federation of Korean Industries (FKI) s
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.The MARIPOSA study has proven the feasibility of lazertinib+amivantamab as a standard first-line treatment. Competing trial FLAURA2 is expected to underperform in terms of OS. In addition, ESMO clini
DL Engineering & Construction (E&C) has partnered with the Saline Water Conversion Corporation (SWCC) of Saudi Arabia to promote carbon-neutral desalination plants.On Oct. 22, local time, DL E&C announced that it signed a “Mutual Cooperation MOU for the Application of Small Modular Reactors (SMR) in
During President Yoon Seok-yeol’s state visit to Saudi Arabia, a total of 46 memoranda of understanding (MOUs) and contracts were signed at the 2023 Korea-Saudi Investment Forum. This signifies a boost in economic cooperation between the two nations across various industries, including electric vehi