In line with President Yoon Suk-yeol’s visit to Poland, the Export-Import Bank of Korea (Korea Eximbank) and Korea Trade Insurance Corporation are set to sign a financial agreement with Bank Gospodarstwa Krajowego (BGK), the Polish state-owned bank. The financial institutions of both countries plan
Korea Midland Power Co., a first for a power group, held an inauguration ceremony for its third European project, the Gubbaberget Windfarm Project in Sweden, on July 4 (local time).Approximately 70 people attended the inauguration ceremony, including Korean joint shareholders, European business part
Korean President Yoon Suk-yeol’s upcoming visit to Poland has raised expectations that Korean companies will be able to gain an edge in the second phase of Poland’s nuclear power plant project if the two countries strengthen cooperation in the field of green energy.After failing to win the first pha
Korea Aerospace Industries (KAI) has made an early delivery of its FA-50GF light attack aircraft for the Polish Air Force. Poland requested the early delivery to showcase the FA-50GF at its Armed Forces Day event scheduled for Aug. 15.According to industry sources on July 10, KAI completed the deliv
S-OIL announced on July 10 that it ran a Korea-Arab Youth Exchange Program from July 3 to 8 under the auspices of the S-OIL Science and Culture Foundation.This event was organized with the aim of fostering growth as global leaders through the mutual understanding of culture and history between Korea
The K-Ricebelt initiative, aimed at increasing rice production in Africa by disseminating Korean rice seeds and agricultural technology, has officially begun.The Ministry of Agriculture, Food and Rural Affairs held the K-Ricebelt Ministerial Meeting at the JW Marriott Hotel in the Seocho district of
The Korean government will push for an amendment to an executive decree to allow foreign companies to receive cash support for alternative investments other than investments in the construction of new factories or the expansion of existing factories and the creation of jobs. General Motors (GM) and
“Made in China” is making its mark in the Korean market, not only with solar power components but also in a variety of future-oriented products such as electric buses, drones, and robots.According to data submitted to Han Moo-kyung, a lawmaker of the People Power Party, by the Korea Energy Agency on
The upcoming state visit of President Yoon Suk-yeol to Poland this week could potentially boost the negotiations for the second round of contracts for the export of Korean defense companies to Poland.According to the Presidential Office on July 9, President Yoon will embark on a tour of Europe from
The monopoly structure of Korea’s three telecoms companies -- SK telecom, KT and LG Uplus -- has lasted for more than 20 years. To make a change in this structure, the Korean government will lower the frequency allocation fee for a new operator and provide the new operator with support such as loans
The Korea Fair Trade Commission (KFTC) has imposed a 10 billion won (US$11 million) fine on OCI, which engaged in unfair internal transactions to maintain and strengthen the control of a related party within the group.On June 6, the KFTC announced that E-Tech E&C (now SGC E&C) and Gunjang Energy (no
Business leaders from Korea and Japan gathered again in Seoul for the Korea-Japan Industrial Cooperation Forum to discuss ways to boost cooperation between the two countries. Recently the two countries have accelerated their economic cooperation, including the signing of a currency swap for the firs
On July 6, the Ministry of SMEs and Startups announced that its minister, Lee Young, held a meeting with Abdullah bin Touq Al Marri, the UAE Minister of Economy, in the 63 Building in Yeouido, Seoul, to discuss strengthening the cooperation between small and medium-sized venture businesses.The minis
The Korea Water Resources Corporation (K-water) announced that it held the 4th General Assembly of the Asia Water Council (hereinafter referred to as AWC) at the K-water Songsan Global Education and Research Center in Hwaseong, Gyeonggi Province on July 6, to discuss solutions to Asia’s water issues
Korea’s foreign exchange reserves edged up in June, turning to an increase in a month. This was due to the weakening of the U.S. dollar.According to “Foreign Exchange Reserves at the End of June” data released by the Bank of Korea (BOK) on July 5, the country’s foreign exchange reserves stood at US$
As the trend of de-sinicization rises across industries in Korea, Altasia is emerging as an alternative to China.The Korea Chamber of Commerce and Industry (KCCI) released the results of its study on changes in the global trade structure and countermeasures on July 5, revealing that 14 Asian countri
Plans to provide incentives for foreign workers who have worked in one workplace for a year after their first entry into the country are being pursued. This is due to the many small and medium-sized enterprises (SMEs) struggling with labor shortages caused by frequent job changes by foreign workers.
Since the full implementation of China’s Hallyu (Korean Wave) Ban in 2016, it has been revealed that a total of 46 Chinese subsidiaries of South Korean corporations have been sold or liquidated. The total revenue scale of these companies is approaching 20 trillion won.On July 5, CEO Score, a corpora
The Fund Management Division of the National Pension Service (NPS) announced on June 30 that it has selected a total of three institutions as private equity fund (PEF) managers for domestic alternative investments in 2023.Following the announcement of the selection plan last March, and after the pro
With regard to batteries, the mood is changing in Europe, which has been pushing for battery self-sufficiency to lower its dependence on Korea for batteries. With the proliferation of startup battery companies in Europe, demand for battery materials is expected to surge there. Faced with technologic