The Vietnamese government, the People’s Committee of Bac Ninh province and Samsung Electronics Vietnam signed a memorandum of understanding to support Vietnamese companies.The MOU is a follow-up of the November 2019 meeting of Vietnamese Prime Minister Nguyen Xuan Phuc and Samsung Electronics Vice C
Deep Knowledge Group (DKG) recently classified South Korea as the third-safest country in the world in relation to COVID-19, behind Germany and New Zealand. The Hong Kong-based think tank released the first version of the list in June this year and South Korea came in 10th at that time.On the latest
Since 2015, the Korea Forest Service (KFS) has reduced 650,000 tons of greenhouse gas (GHG) emissions in Cambodia through the Reducing Emissions from Deforestation and Forest Degradation plus (REDD+) Project carried out in Kampong Thom Province of the Southeast Asian country.The reduction amount is
The Ministry of Economy and Finance announced on Sept. 8 that the seventh Korea-UAE Joint Economic Committee meeting took place in the afternoon of Sept. 7. The committee is a ministerial council of the two countries established in 2006 and covering bilateral economic cooperation.At the video confer
The principal of the South Korean government’s New Deal Fund is likely to be protected to some extent. The preparation of the 20 trillion won fund is scheduled to be completed in 2025 while the current presidential term ends in May 2022. It is pointed out by some that the principal protection based
The Moon Jae-in administration increased the government budget by 7.1 percent in 2018, its first year, whereas the rate of budget increase stood at 3.7 percent in 2017. The government’s fiscal expansion continued, the budget increased by approximately 9 percent in each of 2019 and 2020, and its targ
The ruling Democratic Party of Korea and the government discussed budget bills for next year on Aug. 26 and decided to continue with aggressive fiscal expansion next year.Specifically, the bills will contain at least 20 trillion won for the government’s New Deal and Youth Hope Package projects each.
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. At the August MPC meeting, the BOK will likely revise down its growth forecast but opt unanimously to freeze the key rate. At present, its KTB buying criteria applies more weight to volatility than
The Korean government plans to expand support for social enterprises to create jobs.As of 2019, Korea’s social enterprises amount to 27,452 and their employees reach 284,875. The government plans to add 64,000 jobs to the country’s social enterprises by 2022.For this, the government will strengthen
The South Korean government announced on Aug. 13 that it would invest 4.6 trillion won until 2023 in order to enhance the competitiveness of major service sectors such as medical and healthcare. Also, it is going to raise a cultural content fund of at least one trillion won so that music albums, vid
The United States said that it would keep in close touch with South Korea with regard to the upcoming G7 summit.The Ministry of Foreign Affairs announced on Aug. 12 that Assistant Secretary of State for East Asian and Pacific Affairs David Stilwell had a video meeting with Deputy Foreign Minister Ki
SK battery America, a manufacturing facility of SK Innovation Battery Business in the U.S., signed a partnership agreement with Quick Start and Lanier Technical College in Georgia, U.S. on July 30 (local time) to train 2,600 new jobs.Quick Start is Georgia’s internationally acclaimed economic develo
Recently, U.S. Secretary of State Mike Pompeo publicly referred to SK Telecom and KT, two Korean mobile carriers which do not use Huawei equipment, as “clean” companies. With respect to LG Uplus’ use of Huawei equipment, Robert Strayer, deputy assistant secretary of state for cyber and international
LG Uplus is under renewed pressure from the U.S. government to refrain from using communications equipment produced by China’s Huawei.Robert Strayer, deputy assistant secretary of state for cyber and international communications and information policy, reiterated the U.S. government’s call for a ban
South Korea’s Trade Minister Yoo Myung-hee is predicted to compete with seven other candidates to become the chief of the WTO. The seven candidates are from the United Kingdom, Nigeria, Egypt, Kenya, Mexico, Moldova and Saudi Arabia.Specifically, the U.K. candidate is former International Trade Secr
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. While the June jobs report showed another surprise, we believe that personal income fell paradoxically. The scale of fiscal stimulus measures announced in the second half of July will be important.
The Ministry of Economy and Finance held a seminar on digital technology-based COVID-19 response on June 26 with the World Bank and the Bill & Melinda Gates Foundation.At the seminar, the ministry stressed that each country of the world needs to seek a perfect balance between economic recovery and q
The Korean government announced on June 25 a set of plans to improve financial sector taxation. The plans are intended to make financial sector taxation simple and fair enough to promote investment in financial products. They were disclosed at the 8th Meeting of the Central Economic Response Headqua
The South Korean government decided to provide five trillion won for subcontractors in key industries and at least two trillion won for auto parts manufacturers. The measure is an addition to the government’s financial assistance programs worth a total of more than 175 trillion won and released afte
The South Korean government is planning to provide a financial assistance of more than 15 trillion won for companies participating in 30 important international tenders worth a total of US$100 billion. In addition, it is going to halve the periods required for relevant preliminary feasibility studie