South Korea has taken the first step toward injecting US$2.3 billion into Ukraine’s reconstruction.The Ministry of Land, Infrastructure and Transport (MOLIT) of South Korea organized the first public-private Ukraine Reconstruction Cooperation Delegation and sent the delegation to Ukraine’s capital c
The automotive industry, particularly manufacturers of finished vehicles, is closely monitoring the potential changes in vehicle taxation criteria. The primary focus of these discussions revolves around the proposal to shift towards taxing vehicles based on their market value. This shift is raising
On Sept. 14, the Ministry of Trade, Industry, and Energy announced that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$160.5 billion, with imports reaching US$110.7 billion. This led to a provisional trade surplus of US$49.8 billion.The decline in th
Korea and the United States have released a joint declaration on strengthening research and development cooperation in artificial intelligence (AI), open clouds, and 6G, and discussing digital international norms.The Ministry of Science and ICT (MSIT) and the Personal Information Protection Commissi
TheAfrica-Korea Business Summit was hosted at the Peninsula Hotel in Paris by the Korea-Africa Foundation and the Korea Chamber of Commerce and Industry (KCCI) with support from the Ministry of Foreign Affairs of the Republic of Korea. The theme for the business summit was ‘Africa-Korean partnership
On Sept. 12, K-water revealed that its CEO Yoon Seok-dae held in-depth discussions with Ukraine’s Ambassador to Korea, Dmytro Ponomarenko, on cooperation strategies for Ukraine’s reconstruction.This comes after President Yoon Suk-yeol announced at the G20 summit on the 10th that Korea would support
The Yongin Semiconductor Cluster is facing difficulties in securing stable power supply. The industrial area will include the world’s largest advanced semiconductor production facility and more than 200 fabless, materials, parts and equipment companies.The Ministry of Trade, Industry and Energy (MOT
Korea has more than 40,000 imported cars worth more than 200 million won registered as company vehicles. Among them, nearly 8,000 were to the tune of over 300 million won per car. On the other hand, the number of imported cars under 50 million won has descended.The nation had 40,483 imported cars wo
The Ministry of Economy and Finance (MOEF) is hosting the Korea-Africa Economic Cooperation Ministerial Meeting for the first time in five years. Following the minister-level meeting, a joint declaration will also be announced.The MOEF has announced that the 7th Korea-Africa Economic Cooperation Min
'H2 MEET 2023', the world's largest hydrogen industry exhibition, will host its largest-ever event at KINTEX 1 in Goyang, Gyeonggi Province for 3 days from Wednesday, September 13 to Friday, September 15.This exhibition is hosted by the H2 MEET Organizing Committee (Chaired by Nam-hoon Kang, Chairma
KT&G recently held an agreement ceremony to receive investment support from the Ministry of Investment for the construction of a new factory in East Java province, positioning it as an export hub in Indonesia.On Sept. 6, at the headquarters of the Ministry of Investment in Jakarta, Baek Bok-in, the
Starting in March of next year, the era of electronic shareholders meetings will commence. With the full introduction of online voting at shareholder meetings, allowing same-day voting, the atmosphere of future shareholder meetings is expected to undergo a significant transformation.According to the
Three defense units of the Hanwha Group (Hanwha Aerospace, Hanwha Ocean, and Hanwha Systems) participated in MSPO 2023, Europe’s premier defense exhibition held in Kielce, Poland, from Sept. 5 to 8 (local time), laying the groundwork for expansion in the European market.On Sept. 5, during MSPO, Hanw
Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho met with Uzbekistan’s Deputy Prime Minister for Economic Affairs to finalize a plan to enable Korean companies to receive an unpaid amount for the Surgil Project after six years.According to the Korean Ministry of Trade, Indust
The Korean government will listen to the opinions of experts from various sectors to spread super-sized artificial intelligence (AI) not only to the science and technology fields but to all aspects of society such as law, medicine, education, and defense. It is planning to launch a project to suppor
The Born2Global Center, which supports Information and Communication Technology (ICT) startups in their overseas ventures, is set for a new beginning as a foundation a decade after its establishment.The Ministry of Science and ICT (hereafter referred to as MSIT) announced that the K-ICT Born2Global
Doosan Enerbility announced on Sept. 8 that it has signed a memorandum of understanding (MOU) with Indonesia Power (IP) concerning the conversion of power plants to eco-friendly operations for the reduction of exhaust gas emissions in Indonesia.Through this agreement, both companies have decided to
The U.S.-China semiconductor battle has escalated into a “mineral war.” China, possessing core materials for semiconductors and electric vehicle batteries, is playing its mineral export restriction card in response to U.S. controls on semiconductor technology. Concerns over China’s weaponization of
Kia’s flagship model, the EV9, is struggling in the domestic market just three months after its launch.According to industry sources on Sept. 7, Kia announced on Sept. 1 that during the recent period it sold 408 units of the EV9 in the domestic market, a decline of over 67% compared to July. In its
According to industry sources on Sept. 7, wage negotiations between Samsung Electronics and its union have been on hold since April 21, prolonging the cooling-off period.Other electronics affiliates within the group, such as Samsung Display and Samsung Electro-Mechanics, concluded their wage negotia