South Korean credit card and insurance companies are rapidly expanding their overseas businesses in China and Southeast Asia.Shinhan Card is currently doing business in Vietnam, Indonesia and Myanmar. In the first half of this year, its overseas net profit was 11.33 billion won, up 400 percent from
Hana Bank has forged a strategic partnership with Rainmaking Innovation (SG) Pte. Ltd., a global startup accelerator based in Denmark.Established in Denmark in 2007, Rainmaking has branches in 35 countries on four continents, including London, New York and Singapore. It has fostered and invested in
SK Telecom announced on Sept. 13 that it has commercialized post-quantum cryptography (PQC) for global virtual private network (VPN) services.PQC is an encryption technology that uses a complex mathematical algorithm that takes a very long time to solve, even with a quantum computer.The company has
SK Group is partnering with Gentari Sdn Bhd (Gentari), a clean energy solutions entity founded by Malaysian energy company PETRONAS, for clean energy business opportunities.The group is stepping up its efforts to make inroads into the green industries in Southeast Asia, following its recent equity i
POSCO Holdings has signed a memorandum of understanding with India's Greenko Group for cooperation in renewable energy and hydrogen production. Greenko Group is India’s second-largest renewable energy company.A signing ceremony was held on Sept. 1 with the attendance of Jo Joo-ik, head of the Hy
Former Bithumb Holdings chairman Lee Jeong-hoon has won a lawsuit in a Singapore court regarding the listing of Bithumb coin BXA.Bithumb said that the Singapore court ruled on Aug. 26 that BK Medical Group chairman Kim Byung-kun should return the proceeds from the sale of coins owned by BTHMB.BTHMB
The Korea Exchange announced on Aug. 28 that foreign investors’ net buying in KOSPI was 5.38 trillion won from July 14 to Aug. 26.“They showed this year’s first net buying in KOSPI on July 14 and they concentrated on large-cap stocks, including LG Energy Solution, Samsung Electronics, Samsung SDI, H
The Export-Import Bank of Korea (Korea Eximbank) has launched KEXIM Global (Singapore) Ltd., a subsidiary incorporated in Singapore.An opening ceremony was held on Aug. 23 with the attendance of the bank's president Yoon Hee-sung, Korean Aambassador to Singapore Choi Hoon, and officials from maj
Korea Ginseng Corp. (KGC). said on Aug. 23 that cumulative sales of Red Ginseng Tablet Everytime, a product of its CheongKwanJang brand, have crossed the milestone of 1 trillion won. While other red ginseng products are suffering a drop in sales, this product is enjoying an increase in sales and exp
POSCO Group chairman Choi Jung-woo has recently met with officials of global investment companies such as BlackRock and the Government of Singapore Investment Corp. (GIC) to explain his business performance and future vision and request continued cooperation.POSCO Holdings announced on Aug. 21 that
Huawei has launched Asia Pacific Seeds for the Future 2022 in collaboration with ASEAN Foundation and Tourism Authority of Thailand (TAT). From Aug. 19 to 27, the program will bring together 120 outstanding students from 16 countries across the Asia Pacific region for a 9-day digital boot camp in Th
SK ON, an electric vehicle battery subsidiary of SK Innovation, has decided to receive up to 2 trillion won in investment from a consortium of domestic investors led by EastBridge Partners, an independent private equity firm.Initially, the company sought to attract investment from global private equ
Huawei has recently hosted the TECH4ALL Education Global Online Summit. Officials and experts at the summit explored how digital technologies will transform today's education systems into a more inclusive and innovative paradigm, democratize access to education resources, and build-in systemic r
The Ministry of Trade, Industry and Energy announced on Aug. 16 that foreign direct investments (FDI) in South Korea reached US$11.086 billion on notification basis in the first half of this year.The investments include US$2.946 billion from the United States, followed by the Cayman Islands (US$1.54
Korea Investment & Securities Co., a subsidiary of Korea Investment Holdings, announced on Aug. 11 that KIS Indonesia, its subsidiary in Indonesia, has successfully managed the issuance of rupiah-denominated public bonds by KB FMF, an Indonesian subsidiary of KB Card.KB FMF received a credit rating
The global investment in carbon capture, utilization and storage (CCUS) is increasing in an attempt to reach carbon neutrality by 2050. Under the circumstances, South Korea with few carbon storage spaces and Southeast Asia, which is highly dependent on fossil fuels, are expanding their cooperation b
Incheon Port Authority (IPA) announced on July 17 that global shipping giant MSC launched its Pertiwi service at Incheon Port on July 15.According to the IPA, the new service is the sixth regular container route opened at Incheon Port this year. It increased the number of regular container services
The South Korean government is considering applying non-taxation to foreigners’ investment in the South Korean bond market. Although the government is mentioning global standards as its reason, this implies that the depreciation of the won and inflation are already beyond a tolerable level.Deputy Pr
Foreign investors recorded a net selling of approximately 20 trillion won in the South Korean stock market in the first half of this year. Meanwhile, some foreign institutional investors focusing on long-term investment, including the sovereign wealth funds of Switzerland and Norway, continued to bu
OHFA tech, a Korean startup developer of self-learning braille devices and software for the blind and partially sighted people, was selected as the Republic of Korea representative to pitch their business at the Youth Co:Lab Regional Summit 2022 co-hosted by the United Nations Development Programme