The Ministry of Culture, Sports and Tourism, in conjunction with the Korea Visit Committee, will hold the “Korea Summer Beauty Sale” for a month from July 20 to August 20.The Korea Summer Beauty Sale is a public-private partnership event held with the participation of the K-Tourism Cooperation Team
Flitto, a leading AI language data company in South Korea, announced that Heba Farouk Mohamed Shahein, a high-ranking official from the Egyptian government, visited Flitto's headquarters on July 20th.During the visit, Flitto gave a comprehensive tour of headquarters and provided an in-depth pres
According to industry sources on July 20, one of the most significant issues recently faced by Korean companies entering the Vietnamese market is power shortages. Concerns have been raised that chronic power supply problems, leading to frequent power outages, could hamper production.The power situat
On July 3, it was first reported that a total of 34 reports were received at the Ministry of Land, Infrastructure, and Transport’s Automobile Recall Center regarding “power loss while driving” from four electric vehicles produced by Hyundai and Kia, including the Kia EV6, Genesis GV60 and GV70, and
The government has designated seven specialized complexes for the nation’s advanced strategic industries such as semiconductors, secondary batteries, and displays. In addition to this, five specialized complexes for materials, parts and equipment have also been newly designated to focus on five othe
Korean Trade, Industry and Energy Minister Lee Chang-yang asked the government of Turkmenistan, the world’s fourth-largest natural gas producer, to support Korean companies in winning plant projects. The projects are worth US$2.5 billion (about 3.2 trillion won).Turkmenistan’s natural gas reserves a
Korea Hydro & Nuclear Power (KHNP) is aggressively driving the development of small modular reactors (SMRs) in collaboration with the private sector. With the goal of leading a market worth 630 trillion won (US$497.24 billion), Korea aims to establish a presence in it.According to KHNP on July 19, K
The Asian Development Bank (ADB) has revised down its forecast for South Korea’s economic growth rate this year from the previous 1.5% to 1.3%. The figure is lower than the projections of the Organization for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF), bot
Elliott Management, a U.S.-based private equity fund, criticized the South Korean government’s decision to file an appeal lawsuit against an international investment dispute decision, saying that “the rejection of the decision sends the wrong message that South Korea is tolerant of corruption.” The
Amid a spate of recent attempts to leak major industrial technologies such as semiconductor and display technologies overseas, the Korean government has proposed a bill to strengthen penalties for technology leakage. While some voiced that the sentencing guidelines of the law should be strengthened
Korea Aerospace Industries (KAI) is actively pursuing exports of its FA-50 light attack aircraft to the United States, the world’s largest defense market. The export is expected to be worth 44 trillion won (US$35 billion), and, if successful, it would greatly boost the global standing of the Korean
The South Korean government plans to contribute US$10 million to the World Bank’s Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund for Ukraine’s reconstruction.On July 18, according to the Ministry of Strategy and Finance, while attending the G20 Finance Ministers’ meeting in Gandhinag
In the first half of this year, Korea’s automobile exports surged 46.6 percent year on year to US$35.7 billion, a record high. Including auto parts, the figure reached US$47.3 billion.According to the Ministry of Trade, Industry and Energy (MOTIE) on July 17, Korean automakers exported more than 241
On July 17, KT announced that it held the final report meeting on Mongolia’s National Digital Transformation (DX) consultation at the Parliament House in Ulaanbaatar, Mongolia, targeting key executives of the Mongolian Ministry of Digital Development and Communications.Over the past 10 weeks, KT and
South Korea’s share of China’s total imports descended to the low 6 percent range.According to data from the Chinese government, South Korea’s exports to China in the first half of this year totaled US$77 billion, down 24.9 percent from the same period of 2022.During the same period, China’s total i
The South Korean government and private companies are plunging into Ukraine's reconstruction project, which is estimated to be worth more than 1,500 trillion won in total. The government, in partnership with Poland, Ukraine's neighboring country and the largest Ukrainian supporter within Eur
The Korean government is considering supplying electric power to the Yongin System Semiconductor Cluster in Gyeonggi Province from a hydrogen to gas turbine (H2GT) power plant.The Ministry of Trade, Industry and Energy discussed a plan to build a new liquefied natural gas (LNG)-fired power plant wit
The Korean ICT industry, which is the core of Korea’s export engine, seems to have rebounded from its decline after bottoming out in April. System semiconductor exports are also showing signs of recovery, mainly those to Europe and Japan.According to the Ministry of Trade, Industry and Energy on Jul
The former CEO and several employees of TopTec who sold Samsung Display’s edge panel technology to China, have been convicted. The leaked 3D Lamination technology is used to manufacture edge panels, also known as “edge designs,” smartphone displays designed to curve at the edge.The Supreme Court tod
South Korea’s nominal gross domestic product (GDP) is provisionally ranked 13th in the world. It has dropped out of the global top 10.According to statistics released by the Bank of Korea (BOK) on July 12, South Korea’s nominal GDP at market exchange rates was US$1.6732 trillion in 2022. It ranked 1