Hyundai Merchant Marine, Korea’s only national flag carrier, has regained its right to run the Busan New Port Terminal, which it had sold due to financial difficulties.The shipper has been pushing hard to regain its global competitiveness in line with the Korean government’s efforts to rebuild the s
Foreign investors net sold more than 2 trillion won (US$1.87 billion) worth of South Korean stocks last month, shifting to a “selling mode” in just one month. However, they net invested about 708 billion won (US$661.99 million) in bonds.According to data from the Financial Supervisory Service (FSS)
The South Korean government will decide on its participation in the Trans-Pacific Partnership (TPP) within this year, Minister of Trade, Industry and Energy Paik Un-gyu was quoted as saying on May 9 by Japanese newspapers.According to the Ministry of Economy, Trade and Industry of Japan, the South K
Singaporean blockchain company IOS will make a foray into the Korean market. The company plans to create a safe internet ecosystem where people do not worry about the leakage of personal information and hacks by enhancing security, speed and scalability a great deal.Jimmy Zhong, CEO of IOS, held a p
South Korean insurance companies are increasing the number of their overseas offices but they still show a loss. According to the Financial Supervisory Service (FSS) on May 2, 10 domestic insurance companies – three life insurance and seven indemnity insurance firms – had a total of 42 overseas offi
It has been found that South Korea is the country that used Internet and mobile banking services most among Asian countries.According to a report titled "Asia Banking in the Digital Consumer Era" released by McKinsey, a global consulting firm, on April 17, Korea's digital banking penetration rat
The International Electric Vehicle Expo announced on April 4 that this year’s Global EV Association Network (GEAN) conference takes place on May 1 at Lotte Hotel Jeju. The conference is scheduled to be attended by the CEOs of electric vehicle manufacturers from more than 20 countries and a number of
The South Korean government is planning to disclose its forex market intervention history under pressure from the U.S. government.At present, South Korea is the only OECD member country not disclosing the history. Not only the United States but also the IMF has called for the South Korean government
It was pointed out that Korea's strict regulation is preventing the birth of 'Unicorn Enterprises.' A unicorn company means an unlisted start-up which is valued at over US$1 billion and 10 years old or younger.The Korea Economic Research Institute (KERI) announced on March 28 that only three Korean
Naver Corp. will join hands with the Hong Kong University of Science & Technology (HKUST), one of the best universities in the world, to set up an artificial intelligence (AI) research center. After acquiring the Xerox Research Centre Europe (XRCE) in Grenoble, France, for 200 billion won (US$213.8
Mirae Asset Daewoo Chairman Park Hyun-joo has decided to focus on global management. When Park took office as chairman of Mirae Asset Daewoo in May 2016, he showed a strong will for overseas business after two years of management.Mirae Asset Daewoo announced on March 26 that Park has become the chai
According to market research firm IC Insights on March 25, Chinese fabless semiconductor companies’ global market share rose from 5% to 11% from 2010 to 2017, when they accounted for one-fifth of the global top 50.During the same period, American companies’ market share fell from 69% to 53% with Bro
According to the Economist Intelligence Unit’s Worldwide Cost of Living report released on March 15, Seoul and Geneva are the sixth-most expensive cities to live in among 133 cities around the world. Seoul ranked sixth in the previous year’s survey, too.“In Seoul, the prices of bread and wine are hi
A consortium consisting of Ssangyong Engineering & Construction (Ssangyong E&C), Daewoo Engineering & Construction (Daewoo E&C) has won the Woodlands Health Campus project worth U$740 Million.A consortium consisting of Ssangyong Engineering & Construction (Ssangyong E&C), Daewoo Engineering & Constr
It has been found that the number of inbound tourists from nine Southeast Asian countries – Taiwan, Thailand, Hong Kong, Malaysia, Philippines, Vietnam, Singapore, Indonesia and Myanmar – increased from 2,007,605 to 3,057,180 between 2015 and last year. For reference, a total of 3,116,505 Chinese to
The overseas initial coin offering (ICO) market is attracting much attention. The overseas ICO market shows the development of new virtual currencies and related projects and raises funds online. Concern is growing that the IPO market, a major financing channel for corporations, is likely to shrink
It has been found that South Korean builders won overseas construction projects worth a total of US$7.86525 billion from January 1 to March 9, 2018. The amount had been US$2.96189 billion during the same period of last year.Such a rapid increase is because South Korean builders are doing very well i
11 countries, including Japan and Australia, officially signed the Trans-Pacific Partnership (TPP) Agreement in Santiago, Chile on March 8 (local time). The other nine countries are Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The agreement becomes effective onc
South Korean healthcare companies are launching an initial coin offering (ICO) one after another. Healthcare is the most innovative sector through blockchain technology.An ICO is not forbidden by law in South Korea but the government imposed a total ban on an ICO after cryptocurrency speculation had
An LPGA tournament will be held in Busan beginning next year. The event venue will be the Asiad Country Club where golfers played the game during the 2002 Busan Asian Games.Suh Byung-soo, mayor of Busan, Gu Young-so, president of Asiad Country Club, Mike Whan, commissioner of the LPGA and Jon Podany