Korea Investment Corporation (KIC) President Jin Seung-ho said in an interview with Bloomberg on June 20 that the state-run investment company will dial up its proportion of alternative investments to 25 percent of its assets under management by 2025.“I think that our portfolio is very diverse,” Jin
Korea placed 28th out of 64 countries in the latest Global Competitiveness Index by the International Institute for Management Development (IMD) in Switzerland. Its ranking fell by one notch from 2022.The Korean Ministry of Strategy and Finance disclosed the results of the 2023 National Competitiven
Tony Blinken, the U.S. Secretary of State who is currently visiting China, has announced that he met with President Xi Jinping of China and reached an agreement on the stabilization of U.S.-China relations.From June 18 to 19, Secretary Blinken had a two-day schedule during which he sequentially met
North London Collegiate School Jeju (NLCS Jeju), located in Jeju English Education City, is up for sale. This move is in line with the government’s policy on the rationalization of public corporations, leading Jeju International Free City Development Center (JDC) to decide to transfer the ownership
With U.S. Secretary of State Antony Blinken’s surprise visit to China, the Korean semiconductor industry, including Samsung Electronics and SK hynix, is paying a lot of attention to whether or not the visit will see a breakthrough in U.S.-China relations.According to the semiconductor industry and f
Korea Expressway Corporation announced on June 16 that it participated in the opening ceremony of the 66 km Almaty Ring Road in Kazakhstan and began operation and maintenance of it.About 500 people attended the opening ceremony, including Kazakhstan’s Minister of National Economy Kuantyrov Alibek Sa
The South Korean government has asked the U.S. to clearly define the Chinese companies from which it should not be procuring essential minerals for electric vehicle batteries under the conditions of subsidy tax credit payments in the U.S. Inflation Reduction Act (IRA).According to a U.S. government
South Korea’s labor unions have proposed a 24.7% increase in the minimum wage for next year.This proposition comes as the country’s minimum wage, which is already the highest in Asia, is set to exceed that of France, placing it among the top tier in Europe alongside the U.K., Germany, and the Benelu
As Vietnam, South Korea's third-largest export market, faces an economic downturn, Korean companies are taking direct hits. Critiques are emerging about the urgent need for countermeasures, as Vietnam accounts for half of the exports to the Association of Southeast Asian Nations (ASEAN).Accordin
The U.S. Treasury Department announced on June 16 that it will continue to list South Korea on the currency watchlist on its official website.Other countries included on the list are China, Switzerland, Germany, Malaysia, Singapore, and Taiwan. Japan, which was on the previous watchlist, is now off.
LG has stepped forward to support the bid for the “2030 Busan World Expo” at various locations in Paris, France, where the 172nd General Assembly of the Bureau International des Expositions is being held.Starting from June 15 local time, LG is set to run advertisements supporting the bid for the 203
Growing public anxiety over the recent release of contaminated water from Fukushima Nuclear Power Plant in Japan has prompted the Korean government to hold daily briefings on the issue to actively deal with fake news and fear mongering.The Korean government will crack down on those who make and dist
Recently, Chinese semiconductor companies frequently post job openings on Korean job boards. “It is not uncommon for many Chinese companies that have entered semiconductor zones in Korea such as Pangyo to offer high salaries and perks to Korean semiconductor engineers,” said Kim Hyung-jun, head of t
Last year, companies’ debt-to-equity ratio hit an eight-year high of about 102 percent. The rising interest rate increased interest burdens and toughened business conditions. The number of zombie companies unable to cover interest expenses with operating income reached 35 percent.The interest covera
Kim Jin-yong, commissioner of the Incheon Free Economic Zone Authority (IFEZ), announced on June 13 that the organization has signed a memorandum of understanding (MOU) with Eric Leung, the representative of AISL Harrow International School, the incorporation for the establishment of the Asian branc
The Korea Employers Federation announced on June 13 that Executive Vice Chairman Lee, representing the Korean business community, made a speech at the 111th International Labour Organization (ILO) Conference held in Geneva, Switzerland on June 12 (local time).Vice Chairman Lee stated, “Although the
The construction of the Shin Hanul 3 and 4 reactors will begin soon after its cancellation under the previous Moon Jae-in administration.The Korean Ministry of Trade, Industry and Energy held a meeting at the Sejong Government Office on June 12 to deliberate on and resolve the approval of an impleme
According to sources in the Korean business community on June 12, the Xing Haiming, Chinese Ambassaor to South Korea, stayed at Healing Stay Cosmos Resort, an accommodation facility operated by Korea’s Kolon Group on Ulleung Island of Korea in the East Sea, last month. While the exact price of the s
“The Korean government has not promoted a policy of decoupling from China,” Prime Minister Han Duck-soo said. Han reaffirmed the Korean government’s position that there was no decoupling from China and no reason to do so as stated by Deputy Prime Minister and Minister of Strategy and Finance Choo Ky
The United States is officially shifting its Chinese strategy from “decoupling” to “derisking.”On June 4, White House National Security Advisor Jake Sullivan said in a CNN program, “The U.S. economy does not seek to decouple from China, it seeks to derisk it.” This came more than two months after he