The Korean Agency for Technology and Standards (KATS) of the Ministry of Trade, Industry and Energy announced on June 23 that it held a conference on the international standardization of wireless electric vehicle (EV) charging during driving from June 18 to 21 at the Korea Advanced Institute of Scie

The National Health Insurance Service asked the Korean Hospital Association in March to check the ID cards of inpatients before treatment initiation so that national health insurance benefits can be given only to insured persons. The two organizations recently signed a memorandum of understanding so

Hyosung Corp. announced on June 20 that visiting Vietnamese Deputy Prime Minister Vuong Dinh Hue has promised to provide full support for Hyosung’s investment projects in Vietnam during his meeting with its chairman Cho Hyun-joon.Hyosung is building a US$1.2 billion polypropylene (PP) plant and a se

The Ministry of Trade, Industry and Energy announced on June 20 that seven industrial technologies including 500 kV power cable design and production have been newly designated as the core industrial technologies of South Korea.The other six are related to large-diameter semiconductor wafer producti

Korea Exchange (KRX) has decided to postpone its decision on whether to delist Kolon TissueGene Inc. which caused the Invossa debacle.KRX said on June 19, “We will extend the deadline of the ongoing Invossa investigation considering the needs for additional investigations to decide on whether to inc

Listed stocks and bonds will no longer exist in a paper form in South Korea starting from Sept. 16, as the country will introduce an electronic securities system. Under the new system, the issuance, registration and circulation of securities will be performed on an electronic basis without physical

The National Intelligence Service (NIS) is investigating the alleged leaks of Korean-type nuclear reactor technology to the United States and the United Arab Emirates (UAE). The NIS is expected to inform the Ministry of Trade, Industry and Energy of the results of the investigation on June 18 at the

The Korea Energy Agency will hold the third South-South Knowledge Exchange Program at Seoul Royal Hotel from June 17 to 21 by inviting officials from South Asian countries.The program, sponsored by the World Bank, is held to introduce Korean energy efficiency policies and success stories to developi

The Ministry of SMEs and Startups announced on June 16 that total exports of South Korean small and medium-sized enterprises (SMEs) added up to US$9.3 billion last month with a year-on-year growth of 0.7 percent. The value is a 14-month high since US$9.5 billion in March 2018. Likewise, the number o

South Korean companies’ foreign direct investment (FDI) hit an all-time high of US$14.11 billion in the first quarter of this year with a year-on-year growth of 44.9 percent, the highest since Q1, 2017, the Ministry of Economy and Finance announced on June.The manufacturing sector’s FDI reached a re

The Gale Investments Co., a U.S. real estate development company that has sued POSCO Engineering & Construction over the Songdo International City development project in Incheon, has filed a request for arbitration to settle its dispute with the South Korean government over the development of Songdo

The Eurasian Economic Union (EAEU), which consists of five nations including Russia, announced on June 10 (local time) that it will impose a one-year safeguard measure on imported hot rolled steel sheets. The automobile steel sheet, which is one of Korea's major export items, has been excluded f

The number of 5G subscribers exceeded one million as of June 10, the Ministry of Science and ICT said on June 12. 5G mobile phones sold about 230,000 units during the first month of 5G services, exceeding the initial adoption pace of 4G services.The surge in 5G subscribers in the initial period is a

South Korea and the United Kingdom have agreed in principle on a bilateral free trade agreement in view of the possibility of a no-deal Brexit in late October this year.South Korean Trade Minister Yoo Myung-hee and U.K. International Trade Secretary Liam Fox met with each other in Seoul on June 10 a

The National Development & Reform Commission of China told Samsung Electronics and SK Hynix on June 4 and 5 to continue to supply their components to Chinese companies. Earlier, the Ministry of Foreign Affairs of China put the same pressure on South Korea as well. Likewise, U.S. Ambassador to the Re

The United States and China are putting pressure on South Korea to take sides in their ongoing trade war. In other words, both the South Korean government and South Korean companies are exposed to the risk of retaliation on the economy side as well as national security.U.S. Ambassador to the Republi

Korea Southern Power announced on June 4 that it has concluded a cooperation agreement with the Korea Power Exchange (KPX) and the Korea Energy Agency to build a renewable energy certificate (REC) trading service based on blockchain technology.The agreement is aimed at building a collaboration syste

The Ministry of Trade, Industry and Energy announced on June 1 that South Korea’s exports totaled US$45.91 billion in May, down 9.4 percent from a year ago. Korea's monthly exports fell for the sixth consecutive month and the rate of decrease rose from 8.3 percent of March and 2 percent of April

While the Invossa shock has damaged the credibility of Korea’s biotech industry, Korean biotechnology companies are redoubling efforts to find their way into the overseas market.Industry sources said on June 2 that a total of 37 Korean companies will participate in Bio USA 2019, the world's larg

South Korea and the Philippines are working on a free trade agreement (FTA). The two countries established their diplomatic relations 70 years ago.South Korean Trade Minister Yoo Myung-hee met with Filipino Trade Secretary Ramon Lopez in Manila on April 17 and issued a joint statement on the issue.