Korean biotechnology venture companies with technological power are gaining a lot of investment.The Korea Biotechnology Industry Organization (Korea BIO) announced on August 27 that ABL Bio attracted a total of 70 billion won (US$58 million) from 10 domestic venture capital companies in June, the bi
U.S. President Donald Trump said on August 7, during his dinner with the CEOs of 13 companies such as Boeing, that Chinese students in the United States, who constitute the largest group of foreign students in the U.S., are like spies with few exceptions. Earlier, in March this year, he blocked Sing
Dongkook Pharmaceutical Co., a producer of such medicine as “Insadol,” “Madecasol” and contrast media, is now shifting its focus to the global cosmeceuticals market. This is part of its plans to promote cosmeceuticals as its next growth engine. Cosmeceuticals are cosmetic products with bioactive ing
Mass Vehicle Leger (MVL), a Korean company that provides ride-hailing service TADA in Singapore, has gathered 50,000 users and 12,000 drivers one year after the service launch in July 2017, chasing right behind the top service provider, Uber.MVL's TADA, which means "let's ride" in Korean, ha
South Korea came in 12th, overtaken by Russia, in the global GDP ranking, but moved up from 45th to 31st in the global per-capita GNI ranking last year.According to the World Bank, South Korea’s GDP totaled US$1.5308 trillion last year. It took the 14th place from 2009 to 2013 before moving up to 13
On August 15 (local time), the United States Department of Treasury imposed sanctions on one Russian individual and three Chinese and Russian companies for violating restrictions on trade with Pyongyang. The measure immediately followed South Korean President Moon Jae-in’s announcement of a plan for
Jeju Self-Governing Province Governor Won Hee-ryong made a formal proposal to form a task force which is participated in by both the government and Jeju Island in order to make the island “Special Blockchain and Cryptocurrency Global Ecosystem Zone.” He also said that Jeju Island will step up to rem
SK Broadband Co. has successfully issued global bonds worth US$300 million (336.15 billion won).According to SK Broadband on August 8, the company recently carried out a survey of global institutional investors on demand estimation, and the bonds drew US$2 billion (2.24 trillion won) for a subscript
Jeju Special Self-governing Province Governor Won Hee-ryong is set to take steps to live up to his campaign pledges to make Jeju a blockchain hub city, issue a cryptocurrency, dubbed “Jeju Coin,” and use the raised funds for the residents of the island. Won announced on August 3 his plans to meet pe
Mirae Asset Financial Group and South Korea’s top internet portal Naver Corp., which have been in partnership, are to make a large investment in Singapore’s Grab, the largest ride-hailing firm in Southeast Asia. This is their second investment in the mobility industry overseas after jointly investin
Ssangyong Engineering and Construction announced that the builder’s Forest Woods Condominium site won the SHARP Award at the Safety And Health Awards hosted by the Ministry of Manpower of Singapore on July 31.The SHARP (Safety & Health Award Recognition for Projects) award is bestowed upon a contrac
Recently, more and more South Korean financial companies are expanding their business abroad, including Southeast Asia. In particular, the Moon Jae-in administration has been pursuing “New Southern Policy” to strengthen economic and diplomatic cooperation with ASEAN member countries. Accordingly, th
SK Group has decided to set up an investment company in Singapore that would focus on investing in local startups and high-growth projects in Southeast Asian countries.According to SK Group on July 31, SK C&C Co., SK Innovation Co., SK Telecom Co., SK Hynix Inc. and SK E&S Co. have recently decided
Hyundai Motor's Ioniq Hybrid will run in downtown Singapore as taxicabs. Hyundai Motor landed a big order for the Ioniq Hybrid from Singapore where Hyundai Motor is dominating the taxi market.Hyundai Motor said that the automaker signed an agreement to supply Ioniq Hybrid cabs with Singapore'
South Korean oil refinery industry’s exports of petroleum products in the first half of this year hit an all-time high for the fourth consecutive year.The Korea Petroleum Association announced on July 24 that SK Energy, GS Caltex, S-Oil and Hyundai Oil Bank exported 236.94 million barrels of petrole
The Donald Trump administration has issued a warning against companies and countries violating the UN sanctions on North Korea. Experts point out that the warning is intended to control the flow of cash into the North and put pressure on it to accelerate denuclearization.The U.S. State Department ma
Singapore-based company Connectivity Global Pte. Ltd., has launched Receive GUARD, an Artificial Intelligence (AI) enabled email security solution in Singapore.Connectivity Global has partnered with Microsoft distributor Innovix, which has 5,500 resellers across Singapore, Malaysia and Hong Kong. Re
Samsung Medison is planning to introduce a next generation ultrasonic medical device this October, aiming to take a leading position in the global market. The company has been all-out to develop strategic products to shake the world’s ultrasonic medical device market.According to the medical and bio
Deputy Trade Minister Yoo Myung-hee said at a forum in Seoul on July 18 that the South Korean government will effectively communicate with related organizations to strategically examine its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which accounts
Masayoshi Son, chairman of the Softbank Group of Japan, is having difficulties making his investment in Korea as he continues to invest in world-class car sharing companies. Chairman Son allocated up to 1 trillion won for investment. But he is unable to make investment because there is no car sharin