The Ministry of Employment and Labor announced on Nov. 1 that its limitation on the entry of foreign workers would be gradually relaxed as the global COVID-19 vaccination rate is rising.Specifically, foreign workers who have been vaccinated or tested negative now can enter from any country and the d
Lotte Chemical is pushing to maximize cost competitiveness by expanding the raw materials for its petrochemical plants from shale gas and liquefied petroleum gas (LPG) to residues.A heavy feed petrochemical complex (HPC), built jointly with Hyundai Oilbank, is scheduled to start test operations in S
KT&G announced on Aug. 10 that its e-cigarette "Lil" has succeeded in entering 10 foreign countries. It has been a year since the company first exported the product to Russia in August 2020.KT&G signed a contract to supply e-cigarette Lil with Philip Morris International (PMI) for overseas sales and
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY and target price of KRW100,000 We maintain BUY and our TP of KRW100,000 for KT&G. The company’s 2Q21 earnings proved somewhat disappointing as manufactured cigarette exports to the Middle East sl
The Ministry of Land, Infrastructure and Transport announced on June 23 that this year’s K-City Network Global Cooperation Program would be initiated in 11 selected out of 39 applicant countries.The program based on intergovernmental cooperation is to help cities adopt South Korea’s smart city model
The Ministry of Land, Infrastructure and Transport announced on April 27 that 39 countries submitted 111 applications for participation in the K-City Network Global Cooperation Program and the numbers increased by 16 and 31 compared to last year, respectively. The applications were made between Feb.
CJ Logistics announced on March 10 that CJ ICM, the company’s subsidiary in the Middle East, has won a 40-billion-won logistics order for the Shurtan Gas Chemical Complex (SGCC) project in the Shurtan area of Uzbekistan.The project involves providing comprehensive logistics services, including the l
CJ Logistics announced on Feb. 24 that CJ ICM, its subsidiary in the Middle East, has won a project logistics order for a natural gas treatment facility to be built in the southern part of Surkhandarya, Uzbekistan.The term project logistics means logistics that transport and supply all materials and
The Export-Import Bank of Korea (Korea Eximbank) announced on Jan. 29 that it has signed a loan agreement with Uzbekistan's Ministry of Finance on Jan. 28 to provide the central Asian country with a total of US$160 million through the Economic Development Cooperation Fund (EDCF) Program of the K
Overseas construction orders awarded to Korean contractors so far this year exceeded US$30 billion.The Ministry of Land, Infrastructure and Transport and the Ministry of Strategy and Finance announced on Nov. 26 that Korean builders’ year-to-date order intake has reached US$30.2 billion, up 67.8 per
People Power Party lawmaker Kang Gi-yun remarked on Oct. 20 that Chinese account for more than 70 percent of foreigners who benefited from the national health insurance of South Korea from 2015 to June this year and a total of 3,442.2 billion won of national health insurance benefits went to foreign
The Korean Agency for Technology and Standards of the Ministry of Trade, Industry and Energy held a conference on Oct. 16 with South Korean companies doing business in Vietnam, Indonesia and Uzbekistan. There, they discussed how to link the companies’ business with the agency’s official development
The Korea Disease Control and Prevention Agency announced on Sept. 24 that a total of 65 foreigners have been tested positive for COVID-19 after their negative test result submission this month. Concerns are mounting over false test results and the reliability of foreign COVID-19 testing institution
People Power Party lawmaker Koo Ja-geun remarked on Sept. 20 that state-run energy companies invested US$38.88 billion for overseas resources development and recouped only 40 percent of the investment until the end of last year. The recouped portion includes profits, dividends and asset disposal pro
The Korea Forest Service (KFS) will participate in a global digital event, called #RestoreOurFuture, which is to take place on Sept. 2 to celebrate the first milestone year of the Bonn Challenge, a global forest landscape restoration (FLR) movement.The world’s largest 24-hour digital event on restor
KT held a ceremony in honor of the completion of a central power control data center in Tashkent, the capital of Uzbekistan, on Aug. 20 (local time). The data center will check power use by about eight million households across the nation.The establishment of the data center was promoted as part of
SK Engineering & Construction (E&C) announced on July 7 that it has signed an engineering service agreement with Uzbekistan's state-run oil and gas corporation Uzbekneftegaz (UNG) for a US$600 million project to modernize Bukhara Oil Refinery. The contract value is US$7.2 million.SK E&C and UNG
The Korea Federation of SMEs announced on May 31 that this year’s third application for immigrant workers would be available from June 1 to 15.The foreign worker quota for that period is 6,026 consisting of those from the 16 countries including Nepal, Myanmar, Bangladesh, Vietnam, Sri Lanka, Indones
Uzbekistan will introduce the South Korean e-government and digital economy system.When South Korean President Moon Jae-in visited the Central Asian country in April last year, Uzbek President Shavkat Miromonovich Mirziyoyev strongly requested Korea’s assistance in building an e-government system in
SK Engineering & Construction (SK E&C) announced on Oct. 25 that it has signed a memorandum of understanding (MOU) with the Korea Energy Agency and the Ministry of Energy of Uzbekistan to renovate and modernize Mubarek Power Plant in Uzbekistan for about US$200 million.The project aims to modernize