Choi Yoon-beom, chairman and CEO of Korea Zinc, explored ways to cooperate in various fields in a private meeting with Bahlil Lahadalia, chairman of the Indonesian Investment Coordinating Board.Chairman Choi held a discussion about four areas in Jakarta, Indonesia, on Sept. 6. The four areas were co
President Yoon Suk-yeol has picked up the biotech industry as a future growth driver and is determined to support it. To this end, the government’s budget for biotech R&D for 2024 has been expanded by 12 percent. Starting from 2024, the government will launch large-scale R&D projects to develop vacc
India has blocked Chinese automakers from investing in India. This is expected to give Hyundai Motor Group of Korea reflective benefits as the Korean automaker is expanding its investments in India.According to foreign media outlets including the Economic Times of India, Chinese electric vehicle mak
Hanwha Aerospace has achieved the remarkable feat of supplying 129 Redback armored vehicles to the Australian Army.Hanwha Aerospace announced on July 27 that its Redback armored vehicle has been selected as the preferred model of Infantry Fighting Vehicle (IFV) in the “Land 400 Phase 3 Project,” whi
The K-Ricebelt initiative, aimed at increasing rice production in Africa by disseminating Korean rice seeds and agricultural technology, has officially begun.The Ministry of Agriculture, Food and Rural Affairs held the K-Ricebelt Ministerial Meeting at the JW Marriott Hotel in the Seocho district of
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
The United Kingdom is expected to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) on March 31. With China, Taiwan, Ecuador, Costa Rica, Uruguay, and other countries expected to join it, the members are trying to determine how to negotiate with China and Taiwan.The 11 members
The Korea Forest Service held an international meeting for cooperation with Central Asia in Almaty, Kazakhstan. The meeting took place from Oct. 27 to 29 and was attended by five Central Asian delegations and those from international organizations.The delegations were sent by Kazakhstan, Kyrgyzstan,
Daewoo Shipbuilding & Marine Engineering (DSME) will be sold to Hanwha Group.The Korea Development Bank (KDB) announced on Sept. 26 that it will sell part of its stake in DSME to Hanwha Group for about 2 trillion won. After the sale, KDB's stake will be lowered from 55.7 percent to 28.2 percentT
South Korean Trade, Industry and Energy Minister Lee Chang-yang had a meeting in Seoul on June 8 with UAE Minister of Industry and Advanced Technology and Abu Dhabi National Oil Co. CEO Sultan Ahmed Al Jaber.At the meeting, they discussed industrial and technological cooperation and cooperation in e
Deputy Prime Minister Choo Kyung-ho remarked on June 7 that the government would enact and amend supply chain-related laws so that incentives are provided for private-sector companies making efforts to stabilize supply chains, such as import source diversification and manufacturing facility expansio
The Korea Forest Service held the Ministerial Forum on Sustainable Wood as a special event of the 15th World Forestry Congress, which is underway in Seoul, on May 3.The forum began with an opening address by a deputy director-general of the Food and Agriculture Organization (FAO) of the United Natio
The Korea Forest Service held the Ministerial Forum on Finance for Forestry as a special event of the 15th World Forestry Congress at COEX in Seoul on May 3.Participants in the forum included Ahn Do-geol, second vice minister of strategy and finance of Korea; Maria Helena Semedo, deputy secretary-ge
The Japanese government mentioned history disputes between South Korea and Japan after the presidential election in South Korea. “The two states’ joint efforts are essential for peace and prosperity, both regionally and globally,” Japanese Prime Minister Fumio Kishida said on March 10.According to J
A technology forum for an early commercialization of fully autonomous driving has been launched jointly by some 60 public and private organizations.The Ministry of Science and ICT announced on Dec. 8 that it held a launching ceremony for the Self-Driving D.N.A Technology Forum in Dragon City, Seoul.
South Korean Trade, Industry and Energy Minister Moon Sung-wook and U.S. Secretary of Commerce Gina Raimondo had a meeting in the United States on Nov. 9. There, the minister asked the U.S. government to protect the trade secrets South Korean semiconductor companies submitted at the request of the U
Major semiconductor companies and their home countries are protesting against the U.S. White House's demand for confidential semiconductor-related data such as orders and inventories. Facing opposition from these companies and countries, the United States administration may soon distribute quest
The South Korean government had a meeting on Oct. 7 regarding the recent U.S. demand for semiconductor companies’ confidential data. The meeting was attended by Deputy Prime Minister Hong Nam-ki, Trade, Industry and Energy Minister Moon Sung-wook, Minister of the Office for Government Policy Coordin
The South Korean government is working on countermeasures amid the U.S.-China hegemonic rivalry in the global semiconductor industry and the measures are slated to be made public in the form of its K-Semiconductor Belt Strategy. President Moon Jae-in will preside over an economic ministerial meeting
The Ministry of Economy and Finance announced on Sept. 8 that the seventh Korea-UAE Joint Economic Committee meeting took place in the afternoon of Sept. 7. The committee is a ministerial council of the two countries established in 2006 and covering bilateral economic cooperation.At the video confer