Korea Gas Corp. (KOGAS) has signed a long-term U.S. LNG sale and purchase agreement (LNG SPA) with BP p.l.c, a comprehensive energy company.KOGAS will import 1.58 million tons of Henry Hub-linked LNG per year for up to 18 years from 2025.A signing ceremony was held at BP headquarters in London on Ap
The new government will toughen regulations on foreigners who purchase multiple houses in Korea. In particular, it is expected to focus on the Chinese investors who have recently bought many houses in the capital zone, including Seoul and Gyeonggi Province.The Presidential Transition Committee said
Kolon Life Science has licensed out its osteoarthritis cell gene treatment TG-C, also known as Invossa, to a new biotech company in Singapore in a deal worth up to 720 billion won.The company announced on April 13 that it has signed a 723.4 billion won (US$587.18 million) technology export contract
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. For Hyundai Autoever’s strategic businesses, prospects for mid/long-term growth remain valid, backed by: 1) the firm’s strengthening of smart mobility capabilities via the merger of subsidiarie
A total of 10 startups attracted an investment of at least 100 billion won each in the first quarter of this year. The annual investment is expected to reach a new high this year, given that the number was 19 in 2021.The total startup investment was 3.1424 trillion won in the first quarter of this y
Seven European startups that received equity investment from Naver have grown into unicorns with an enterprise value of more than 1 trillion won. Naver established a European investment fund six years ago to expand its business territory around the world and discover promising venture startups.Naver
The Bank of Korea announced on April 5 that South Korea’s foreign exchange reserves decreased US$3.96 billion to US$457.81 billion last month.Marketable securities accounted for 89.6 percent of the reserves, followed by deposits (5 percent), IMF SDR (3.4 percent), gold (1 percent) and IMF position (
Domestic refiners are forecast to have posted record-breaking performances in the first quarter of 2022 as international oil prices have soared. Refining margins, an indicator of the profitability of refiners, rose to the highest level in 22 years, and crude oil inventory valuation gains also shot u
Daesang Corp., the No. 1 kimchi producer in Korea, announced on March 29 that it has completed a large-scale kimchi factory in Los Angeles, becoming the first Korean food company to operate a kimchi plant in the United States.The company plans to use this plant as an outpost in expanding its sales c
Remi Eriksen, CEO of DNV, recently had an interview about the longstanding relationship between his company and Korea. DNV is the world’s largest international accredited registrar and classification society and is headquartered in Norway. It provides services to a range of industries, including the
The world’s first cryptocurrency travel rule becomes effective on March 25 at South Korean cryptocurrency exchanges. It is to reveal the names, nationalities and addresses of those who send and receive cryptocurrencies.Once the rule is implemented, cryptocurrency movement between an exchange and a p
Singaporean investment firm Temasek Holdings has sold off part of its stakes in Celltrion and its distribution affiliate Celltrion Healthcare in a block deal on March 21.The Singapore sovereign wealth fund reportedly sold 390 billion worth of Celltrion stocks and 170 billion won worth of shares in C
Scientists from the Korea Institute of Machinery & Materials (KIMM) and the Nanyang Technological University of Singapore (NTU Singapore) have developed a technique to create a highly uniform and scalable semiconductor wafer, paving the way to higher cup yield, more cost-efficient semiconductors and
The Federation of Korean Industries said on March 16 that South Korean products’ share in the Chinese import market, the second-largest in the world, is falling in the wake of U.S.-China trade disputes and so on.“The share in the market was 9.8 percent on average in the period of 2012 to 2016 and 8.
The popularity of Korean Netflix content is continuing to grow. From Feb. 28 to March 6, five were on the non-English top 10 chart, including Juvenile Justice on top.It was on the top 10 chart in 25 countries, including South Korea, Japan, Mexico, Peru, Taiwan, Singapore, Hong Kong and Morocco. It c
The Ministry of Science and ICT announced on Feb. 22 that the Center for AI and Digital Policy (CAIDP) published a report on artificial intelligence and democratic values this week to classify South Korea, Canada, Germany and Italy as where AI-related policies and practices are most balanced with de
SK ecoplant will acquire TES Envirocorp Pte. Ltd., a global e-waste company. E-waste is electronic products, such as computers, televisions and VCRs, which are unwanted, not working, and nearing or at the end of their “useful life.” SK ecoplant signed a stock purchase agreement (SPA) with Navis Capi
More than 10 large global investors, including the world’s top three private equity funds (PEFs) and major global sovereign wealth funds, have jumped into the pre-IPO of SK On, an electric vehicle battery subsidiary of SK Innovation.The participating investors included the world’s largest PEF Blacks
BlackRock, the world’s largest asset management company, is considering investing in SK Innovation’s battery subsidiary.BlackRock’s private equity fund division recently participated in a preliminary tender conducted by SK On, said sources in the investment banking (IB) industry on Feb. 10. SK On he
The merger between Korean Air and Asiana Airlines is around the corner. Foreign competition authorities have approved it one after another, and the Korea Fair Trade Commission is expected to approve it conditionally.The commission had a general meeting on the issue on Feb. 9. The result of the meeti