South Korea is situated on the periphery of the global pharmaceutical industry map. The global drug market reached US$1.1 trillion (1,244 trillion won) as of last year, the South Korean market stood at 21.7 trillion won (US$19.19 billion), accounting for a 0.012 percent of the total. There are no So
Last month, GM Korea sold 8,991 cars in the domestic market and was relegated by Ssangyong Motors for the first time since its foundation. GM Korea failed to sell 9,000 or more cars in Korea in five years and eight months since January 2012. Moreover, as the equity sale rejection right held by the K
Green Cross MS and Green Cross Laboratories announced on October 10 that they have signed a memorandum of understanding (MOU) to cooperate in clinical examination sector with Sudan Central Lab, which is under the umbrella of the Sudanese government, at the Green Cross MS headquarters in Yongin, Gyeo
"The government will actively support the export of nuclear power plants to ramp up national interests by strictly checking profitability and risk," said Baek Woon-kyu, Minister of Trade, Industry and Energy at the "Nuclear Export Strategic Council" held at the Seoul Trade Center on October 10.He we
Korea Hydro & Nuclear Power (KHNP) announced on October 9 that the standard design of the EU-APR was approved by the European Utility Requirements (EUR). The EU-APR is a version of the state-run nuclear operator’s APR 1400 reactor modified for export to Europe.The approval means that South Korea’s n
South Korean companies are withdrawing from China once regarded as the second domestic market in droves. Since the 2000s, South Korean companies have made inroads into China with a huge domestic market and cheap labor one after another. China emerged as the No. 1 export market of Korea in 2003, surp
A high-ranking South Korean government official said on September 13 that President Moon Jae-in proposed the construction of a power grid covering South Korea and Japan to Japanese Prime Minister Shinzo Abe in Vladivostok, Russia on September 7. It seems that the proposal for power grid integration,
The Korea Energy Agency (KEA) received a letter of appreciation from the United Nations Industrial Development Organization (UNIDO) for its contribution to developing energy efficiency cooperation and signed a new business agreement in the United Nations Secretariat in Vienna, Austria on September 5
A survey found that Korean consumers are much more aware of mobile simple payment services than those of major developed countries such as the US and Japan.According to the information technology (IT) industry on September 5, IPSOS, a European survey company, asked 18,180 consumers in 23 countries i
There is a growing possibility that the first phase after North Korea’s 6th nuclear test will be an economic conflict between the US and China."The US is considering options to stop all trade with any countries that trade with North Korea in addition to other options," US President Donald Trump said
The Ministry of Land, Infrastructure & Transport of South Korea announced on September 3 that it holds Global Infrastructure Cooperation Conference (GICC) 2017 from September 4 to 6 at the COEX Intercontinental Hotel located in Seoul.The annual international conference has been held since 2013 so th
"We will supply GiGA Solution to Thailand and Botswana," KT said on August 28. KT struck the deal with Thailand's No. 1 operator, Advanced Info Service (AIS) and Botswana's Botswana Fiber Networks (BoFiNet).KT supplied GiGA LTE Solution to AIS in Thailand and signed an agreement on supplying the sol
An increasing number of countries are expressing concerns over the South Korean government’s nuclear-free policy.About seven countries, including South Korea, have exported at least one nuclear power plant to another country. At present, China, Russia and South Korea are doing so with nuclear power
Samsung Electronics showed the highest sales growth in China despite the Chinese government’s retaliation over the deployment of the THAAD U.S. anti-missile defense system in the first half of this year among other overseas businesses. The company’s main export items – semiconductor chips and displa
GM's withdrawal from the Korean market is being regarded as a nearly accepted fact as domestic automakers are facing the greatest crisis ever due to sluggish domestic consumption and exports, labor disputes, and controversy over ordinary wages.GM Korea, however, refuted the idea, claiming that to th
The Ministry of Science & ICT and the Software Policy & Research Institute announced on August 8 that the total output of the software industry of South Korea was 50.5 trillion won (US$45.4 billion) last year, up 4.0% from a year ago. The IT service output totaled 32.1 trillion won (US$28.8 billion)
The International Monetary Fund (IMF) announced on August 6 that South Korea recorded a GDP per capita of US$27,633 and ranked 29th among about 190 countries as of October last year.A total of 27 countries exceeded US$30,000 on the list topped by Luxembourg (US$105,829). It was followed by Switzerla
As the South Korean hotel industry has been directly hit by the steep decline in the number of Chinese tourists due to China’s retaliation over the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) system, five-star hotels has been recently making every effort to attract 1.7 billion
Korea Ginseng Corporation (KGC) announced on July 25 that the company signed an agreement with World Vision, an international relief development NGO, to support a drinking water sanitation project in Tanzania, Africa.Korea Ginseng Corporation will pay the cost of four mechanical drinking water syste
The Korea Securities Depository announced on July 25 that deposits of foreign currency securities of residents in Korea increased to US$33.4 billion as of the end of last month, up 15.8% from the end of last year.Among them, deposits of foreign currency bonds totaled US$25.8 billion, up 13.0% from t