The Korean government is accelerating the development of LNG-fuelled vessels and establishment of LNG bunkering systems. The LNG bunkering vessel refuels LNG-powered vessels at sea. LNG-fuelled vessels and LNG bunkering systems are considered Blue Ocean in the marine sector.The Korea Research Instit
Chey Tae-won, chairman of the SK Group, is making big moves to find a breakthrough to the group’s Chinese business which has deadlocked since China’s fire storm sparked by South Korea’s decision to deploy the THAAD System.According to industry sources on May 28, Chey finished his business trip to Ch
Incheon Port currently connects the capital areas of South Korea with the world more closely through 46 container line services crossing Asia and Africa as well as the Americas, and the Incheon Port Authority (IPA) is the center of it.The IPA has come up with its strategy to achieve a goal of boosti
The Ministry of Food & Drug Safety of South Korea announced on May 25 that the local medical device output reached 5.6025 trillion won (US$5.0 billion) last year with a year-on-year growth of 12%. For reference, the growth rate of the local manufacturing sector as a whole was 2.3% during the same pe
With global companies fiercely competing to launch mobile commercial 5G services in advance, countries are also seeking to cooperate in secret to dominate the information and communications technology (ICT) convergence industry in advance. They are now trying to jointly set up technical standards an
The Busan Jinhae Free Economic Zone (BJFEZ) Authority ranked No. 1 in the performance evaluation of seven free economic zones (FEZs) across the country for the second straight year.The results were approved in the 91st meeting of the Free Economic Zone Committee under the Ministry of Commerce, Indus
Daewoo Shipbuilding & Marine Engineering (DSME) pledged to close down its offshore plant business when the debt ridden company received an additional 2.9 trillion won (US$2.58 billion) in emergency funding from the former Park Geun-hye administration and a state-run bank.The shipbuilder, however, th
The Ministry of Oceans & Fisheries of South Korea announced on May 22 that it succeeded in carrying out two-way communications over a distance of 30 km at a water depth of 100 m. The previous world record was 12 km.The experiment is a part of the ministry’s project for the development of an underwat
On May 21, South Korean President Moon Jae-in nominated Ajou University president Kim Dong-yeon as Deputy Prime Minister for Economic Affairs and Minister of Strategy & Finance and Korea University professor Jang Ha-sung as Presidential Senior Advisor for Policy Affairs. This nomination is regarded
Threats of More intelligent worldwide cyber attacks of these days are strengthening cyber security alliance between Korea and the United States. According to the Korean Ministry of Science, ICT and Future Planning, the Korean government and the US government (Air Force Research Laboratory) will fina
LG Display has decided to invest 10 trillion won (US$8.9 billion) in its P production line in Paju, mainly on organic light emitting diode (OLED) facilities. The figure will be the largest ever made in a single panel factory. The company will build the line in a hybrid form that can produce large an
"We target Southeast Asian market with this app. We do not consider China and USA only, but also we aim to enter Thai market first in the Southeast Asian market. What should I do?" Jesse Eunho Lee, CEO of Discoverho, a Korean startup accelerated by Gyeonggi Center for Creative Economy and Innovation
The Ministry of Strategy & Finance of South Korea announced on May 18 that the remittance from the country for foreign direct investment (FDI) purposes totaled US$10.71 billion in the first quarter of this year, up 30.2% from a year ago. The amount had been US$8.23 billion in Q1, 2016 and US$8.74 bi
The Ministry of Trade, Industry & Energy of South Korea announced on May 17 that the exports from the country’s ICT sector totaled US$15.55 billion in April this year, up 24.2% from a year ago, with the exports from the sector for the month of April breaking the US$15 billion mark for the first time
Automobile exports grew for the third consecutive month in April as sales of environment-friendly cars and large-sized cars swelled. On the other hand, domestic car sales sank for the second consecutive month.The Ministry of Commerce, Industry and Energy (MOCIE) said on May 16 that Korea’s exports t
Digital Societies Policy Forum 2017 was recently held in Bangkok, Thailand. The event was hosted by International Telecommunication Union (ITU), Global System for Mobile communications Association (GSMA) and Ministry of Digital Economy and Societies (MDES) of Thailand, the Australian government, APT
Global internet giants, such as Facebook, Google and Apple which make huge advertising revenues, test their new technologies like virtual reality (VR) and secure user data using South Korea’s high-speed internet network that boasts world's fastest speeds and quality, are refusing to pay fees for dat
The competition among major mobile carriers in South Korea, China and Japan is growing fiercer to provide world’s first 5G commercial services. The three countries are seeking to show off the competitiveness in their information communication technologies (ICT) through global sporting events such as
Korea Investment Corp., South Korea's sovereign wealth fund, saw its investment return swing to a positive 4.35 percent last year. It also handled 130 trillion won (US$115.15 billion) in assets under management, showing a 30 trillion won (US$26.57 billion) increase from a year earlier.The KIC said i
Gyeonggi Center for Creative Economy and Innovation(GCCEI), a Korean public accelerator sponsored by KT, had a meeting on May 5 with Malaysian Global Innovation & Creativity Centre (MaGIC), one of the top accelerators in Malaysia, to discuss how they can support startups in Malaysia.MaGIC, which was