Samsung Electronics vice chairman Lee Jae-yong was summoned by special prosecutors on January 12 for allegations that he offered a bribe to Choi Soon-sil and her family.After an investigation, the team of special prosecutors led by Park Young-soo is planning to determine whether or not to apply for
South Korea's tax authorities uncovered Kim Hee-geun, chairman of Byucksan Engineering, hiding his offshore bank accounts with a large sum of money. The National Tax Service (NTS) posted the actual address and the amount of money, who failed to report his offshore bank accounts to the authorities, o
It has been found that Genesis BBQ, a franchised chicken business operator, falsified the number of its members so it became impossible for the food company to recruit new members for the time being.The Fair Trade Commission said on November 11 that the commission canceled its registration of its di
These days, the importance of high-precision spatial information as a basic infrastructure is increasingly highlighted in various future-oriented industries such as autonomous driving, drone, augmented reality (AR) and virtual reality (VR). Standardization of reliable, accurate and high-precision sp
When we, the Korean press delegation, arrived at Weifang on June 26, it was already past noon. We unpacked our bags at the hotel and attended the lunch banquet hosted immediately by Ding Hanbang, vice head of the Weifang municipal publicity department. Speaking of a lunch dish made with radish, the
The world is changing.The wave of enormous changes dubbed the Fourth Industrial Revolution or New Industrial Revolution is blowing in the industry, while society is turning into new community society in earnest in order to integrate more diverse needs into shared values. Now, the 21st century new in
The Global Entrepreneurship Congress (GEC), which celebrates its eighth anniversary this year, has strived to contribute to the establishment and enrichment of an entrepreneurship ecosystem for accelerating innovation and economic growth. As a result, the GEC has turned into an annual international
In a bid to overcome Korea's economic crisis and achieve sustainable economic growth, training the next-generation younger entrepreneurs is the most important. To this end, the first-generation venture entrepreneurs donated funds and established Korea Entrepreneurship Foundation in 2011. This year
At present, the South Korean government’s key policy goal is the realization of a creative economy. According to the government, the creation of added values and decent jobs based on innovation economic development can be achieved by the realization of a creative economy in which creativity, a chall
“South Korea is in pursuit of creative economy, which has creativity as its core value, as a new paradigm of economic development under the premise that innovation and endeavor based on creativity can be a solution to the challenges we are facing now. It is entrepreneurship that forms the key part f
The average annual growth rate of the South Korean economy is failing to exceed 3% and its slow growth is continuing along with low consumer prices, despite the South Korean government’s expansionary monetary policy and the Bank of Korea’s key interest rate cut, with global economic growth estimates
The Rio Olympics kick off on August 6. More than 10,000 athletes are expected to participate in the event from 206 countries around the world and their competition in a total of 306 events is to be aired worldwide via broadcasting stations, which means the host country Brazil and official sponsor co
With a heavy rain pouring down, the Korean press delegation visited the Yantai China-South Korea Industrial Park in Yantai City located in Shandong Province, China, on June 23. There were plenty billboards lining the roads around the park, which read “Choose Yantai, Way Forward for the Future” and “
The Korea Forest Service rolled up its sleeves to bring the 15th World Forestry Congress (WFC) to be held in 2021 to Korea. Kim Yong-ha, vice director of the Korea Forest Service (KFS) had a high-ranking meeting with Zhang Jianlong, Administrator of State Forestry Administration of China one day bef
“Innovative” has become a trite descriptor, since marketing departments of pharmaceutical companies plaster the word everywhere. So who is actually investing the most in research and development?Last year, the share of R&D spending against sales revenue among the top 10 pharmaceutical companies post
Iran is paving the way for another Middle East boom for Korean firms through Iran in 40 years after the first boom in the 1970s. In early May, during President Park Geun-hye’s state-visit to Iran, South Korea and Iran signed 66 MOUs for economic cooperation about 30 projects worth US$37.1billion.
Hanmi Pharmaceutical (Hanmi), which recently surprised the nation's pharmaceutical market with a series of blockbuster licensing deals valued at 8 trillion won (US$6.42 million), pledged to step up R&D efforts, CEO Lee Gwan-sun said during a press conference in MarchLee attributed the last year’s su
Currently, global information and communication technology (ICT) companies, such as Google, Apple, Microsoft (MS) and Facebook, rank high on the list of global top 10 companies in terms of market capitalization. Most American startups founded in the last two decades began in Silicon Valley. Both Nes
The CJ Group is currently generating practical business models and economic effects by utilizing its different cultural content.Since its opening in July last year, the Seoul Center for Creative Economy & Innovation (CCEI) has fulfilled its role as a creative economic role model by providing various
The medical world, which is very conservative about introducing new technologies, is making attempts to adopt smart solutions to improve the efficiency of the existing treatment systems and boost patients’ satisfaction. More and more ordinary people, who are equipped with internet and smartphones, a