It has been found that Korea ranked 9th in GDP growth rate last year among the 10 leading Asian economies. According to the Ministry of Strategy and Finance and the Korea Center for International Finance, 10 major investment banks such as Morgan Stanley, JP Morgan, and Goldman Sachs estimated Korea’

President Park Geun-hye has just laid out her three year plan in detail with the formation of a Task Force involving the Ministry of Strategy and Finance. Under the plan, a focus has been placed on strengthening and enacting executive power, with the definite goal of realizing policy goals.With Fina

The Korean government is promoting the growth of high-value-added service industries with huge growth potential, such as testing and certification or cloud computing. The R&D budgets for the development of source technologies, stem cells, and so on have been boosted, too. The Korean government held

Construction of Korea's first research base in Antarctica, Jang Bogo Station, is 80 percent complete, and is expected to be fully operational on February 14.The Ministry of Ocean and Fisheries made this announcement as the ceremony for the send-off of the first research crew team and appointment of

It is expected that the combined investment by the four major business groups in Korea - Samsung Group, Hyundai Motor Group, SK Group and LG Group - will exceed 100 trillion won (US$94 billion) this year. Last year, the amount was approximately 98 trillion won (US$92 billion). In early 2013, they an

The national tax office of Vietnam launched an extensive tax investigation on the transfer price transactions of foreign-invested companies. According to the Korea Trade-Investment Promotion Agency (KOTRA), approximately 50 enterprises are subject to the investigation, and 40% of them are Korean com

The Ministry of Science, ICT and Future Planning (MSIP) announced its strategies for 5G mobile communications on January 13. The measures are aimed at becoming the world’s number one country in 5G networks, which are 100 times faster than 4G LTE. To hold the top spot, MSIP intends to capture the top

Popular foreign clothing, cosmetics, and watch brands will enter the Korean market on a large scale from March this year at half price. As major discount stores like Walmart, online shopping malls such as Amazon, and local wholesalers are expected to be added to the distribution channels dominated b

The Ministry of Technology, ICT and Future Planning held a discussion session on January 10 in an effort to put together a national Internet of Things (IoT) strategy. The national basic plan for the promotion of the sector is scheduled to come out in March this year. IoT can be defined as a set of i

The Ministry of Foreign Affairs announced the results of the ninth round of negotiations for the five-year Special Measures Agreement (SMA) between South Korea and the US on January 12.The Korean government agreed to contribute 920 billion won (US$867 million) to keep US troops in the country. The n