Hyundai Rotem is poised to initiate local production of K2 Black Panther tanks in Poland. The South Korean company is aiming to extend its cooperation with Polish companies to manufacture tanks in Poland in addition to exporting those produced domestically.On June 5, it was reported that Seo Jun-mo,
As South Korean society is rapidly aging, it has been diagnosed that elderly poverty is serious due to a lack of preparation for retirement.Oh Tae-hee, head of the Bank of Korea, and Lee Jang-yeon, an assistant professor at Incheon National University, said during a meeting at the Employment Panel S
HD Hyundai Heavy Industries will be revealing the models of a next-generation Korean destroyer and other combat ships they are currently developing.On June 4, HD Hyundai Heavy Industries announced that it will participate in the International Maritime Defense Industry Exhibition (MADEX 2023), which
LOTTE WORLD TOWER has claimed the 7th spot among the world's tallest buildings.According to industry sources and Spanish media outlet El Mundo on June 2, LOTTE WORLD TOWER, spanning 123 stories and 555 meters, has risen to seventh in the list of the world's tallest skyscrapers. LOTTE WORLD T
Americans prefer the Samsung brand over Apple, according to a survey. Samsung ranked 7th among the brands loved by Americans, while Apple came in at 10th.On May 31, CNBC cited the results of the “2023 Axios Harris Poll” on the top 100 brands loved by Americans.In the survey released by Axios on May
The Ministry of Agriculture, Food, Rural Affairs (MAFRA) and the Ministry of Justice announced a plan to improve the Foreign Seasonal Labor System on May 30. According to the plan, they will improve the Seasonal Labor System for foreign workers by extending their stay to up to eight months to addres
The Indo-Psacific Economic Framework (IPEF), a U.S.-led economic cooperative formed to counter China, has released its first significant result: a supply chain agreement involving 14 participating countries. The main aspect of this agreement is a joint response by the participating nations to supply
Airport Railroad said on May 25 that if faster new trains with a maximum speed of 150 kilometers per hour are introduced in 2025, train delays during rush hours are expected to be reduced to four minutes from the current five minutes.The new trains will be able to arrive at Incheon International Air
The Incheon Port Authority (IPA) announced that it conducted marketing activities from May 22 to 25. The activities were aimed at stabilizing the Pacific South Express (PSX) - the regular Americas container route - and securing increased cargo volumes for Incheon Port. The targets of this initiative
Height restrictions on buildings in Seoul’s financial district of Yeouido, Seoul will be removed and floor area ratios of up to 1,200 percent will be allowed. The Seoul Metropolitan Government plans to turn Yeouido into a global financial center like Manhattan in New York City where skyscrapers line
The easing of COVID-19 quarantine measures has been leading to an increase in Korean travelers to overseas countries. Amid this change, “No Japan” sentiments have disappeared and “No China” sentiments have emerged among Korean travelers going abroad.Consumer Insight, a Korean data convergence and co
Senior members of the Ukrainian and Polish governments asked Korean Minister of Land, Infrastructure, and Transport Won Hee-ryong to make investment in the Three Seas Initiative (3SI) during Won’s visit to Poland to discuss Korea’s participation in Ukraine’s reconstruction project.The 3SI envision t
The United States and the European Union (EU) are preparing a joint regulatory proposal to limit Chinese investment in high-tech sectors such as semiconductors. They are stepping up their pressure on Beijing after the leaders of the Group of Seven (G7) announced a joint response to China’s economic
A U.S. lawmaker insisted that a Korean company not fill the vacuum left by U.S. semiconductor company Micron that was sanctioned by China.“The Commerce Department should ensure that U.S. export licenses to foreign semiconductor companies operating in China are not used to fill Micron’s (vacant) posi
The Korean government has reportedly asked the U.S. government to double the limit for Korean companies receiving CHIPS Act subsidies in ramping up their semiconductor production capacities in China. The U.S. Department of Commerce is finished accepting opinions and will announce a finalized CHIPS A
On the 24th, the Ministry of Land, Infrastructure and Transport announced the results of the 2022 Air Traffic Service Evaluation, which assessed user satisfaction and comprehensive service quality for 10 national airlines, 16 foreign airlines, and six major international airports.As a result of the
The Korea International Trade Association (KITA) and Taiwan’s leading economic organizations have joined hands to strengthen economic cooperation and expand trade. With the popularity of Korean-made automobiles growing in Taiwan and Korean tourists ranking first in foreign tourist arrivals to Taiwan
The Korean government and the private sector will invest more than 14.3 trillion won (US$10.9 billion) in the Korean auto parts industry. The government, automakers, and related organizations will provide their maximum support to foster Korean experts in core technologies for future vehicles, expand
Small and medium-sized Korean cosmetics companies are making a splash in the Japanese market.According to industry sources on May 23, small and medium-sized Korean beauty brands are making great achievements in the Japanese market as they are targeting online and offline simultaneously based on thei
Correction 5/27 8:20 a.m. KST: A previous version of the story incorrectly referred to a meeting on May 23.The U.S. government is mounting pressure on Korean Air to address antitrust concerns over the merger of Korean Air and Asiana Airlines.Much attention is focusing on the future of the merger. Ac