The Korean government is approving the sale of national core technologies to foreign companies, national core technology transfers, or foreign investment in national core technology holding organizations after receiving reports on them. The number of such cases has more than tripled over the last fi
The Korean government has begun to improve its system to allow more skilled foreign workers to work longer at workplaces in Korea.On Aug. 24, the Ministry of Justice announced a plan to revolutionize work visa regulations in order to drive Korea’s economic growth at the 4th Regulation Innovation Str
Japan has reported a 1.5% economic growth rate in the second quarter, significantly outpacing South Korea’s 0.6%. Despite the global economic slowdown, Japan continues its growth streak for the third consecutive quarter. Its stock market has also reached its highest level in 33 years, indicating a r
China has launched counterattacks against U.S. economic restrictions on the Chinese market. The counterattacks include three measures implemented last month and this month.“As the U.S.-China conflict escalates and China announced legislative initiatives and export control measures to secure economic
It has been found that the foreign ownership percentage of top market capitalization stocks has increased this year. Notably, foreign investors have extended their financial commitments into the domains of defense and construction.According to data released by the Korea Exchange on Aug. 2, the numbe
South Korea’s total population stood at 51,692.000 as of July 1 2022, down 46,000, or 0.1 percent, from 2021, according to the results of the 2022 Population and Housing Census released by Statistics Korea on July 27.The total population of the census includes foreigners who have been living in Kore
As foreign investment in domestic securities saw an increase and the exchange rate between the Korean won and U.S. dollar stabilized, banks experienced a historic surge in their daily average foreign exchange trading volume in the second quarter.According to the Bank of Korea (BOK) on July 26, the d
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
INMEDIC, a youth-led startup that promotes social inclusion of foreigners through increased access to local medical services, represented the Republic of Korea at the Regional Youth Co:Lab Summit 2023, jointly organized by Citi Foundation and the United Nations Development Programme (UNDP) in Bangko
Bank of Korea Governor Lee Chang-yong had a surprise meeting with Pan Gongsheng, the current Chinese Communist Party Committee Secretary and head of the People's Bank of China (PBC) on July 3 ahead of U.S. Treasury Secretary Janet Yellen’s visit to China. The PBC actively publicized the meeting
The export value of our instant noodles has hit a record high this year, surpassing 400 million dollars in the first half. Orders are pouring in from not only Asia but also the United States and Europe.The preliminary export value of instant noodles for the first half of this year is 442.62 million
While Chinese people continue to be a burden on the finances of South Korea’s national health insurance, they also accounted for about 70 percent of foreign buyers of medical indemnity insurance in Korea. Moreover, they are collecting insurance benefits at a higher level than the average for all for
For the third year in a row, the Korea Fair Trade Commission (KFTC) has failed to reach a conclusion on whether foreigners can be designated as head of a business group (the “same person” under the Fair Trade Act). The “foreign head of a Korean business group” controversy has been continuing for thr
The Korean Ministry of Employment and Labor has decided to increase the number of foreign workers in Korea to 110,000 in 2023, up from 50,000 to 60,000 a year for the past five years. This is the largest number since the introduction of the Employment Permit System for foreign workers in Korea.The E
While the number of migrant workers is on the sharp rise in workplaces such as shipyards that require large-scale labor in Korea, the metal workers union under the Korean Confederation of Trade Unions (KCTU), which has been opposed to Korean companies’ employment of foreign workers in the past, is r
The Korean government has ambitiously promoted a project to put Korea into the Morgan Stanley Capital International (MSCI) Developed Markets Indexes for the purpose of resolving the so-called Korea Discount. But the project will hardly produce desired results this year.According to sources in the Ko
In the first quarter of this year, the average daily value of foreign exchange transactions crossed US$66.8 billion, a record high. This is due to the resumption of trading at the beginning of 2023, which led to an increase in foreign exchange transactions and a rise in overseas investment by reside
The author is an analyst of Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.Continuing tightening cycle and rising burden of short-term yield levels The Bank of Korea (BOK) is likely to maintain its tightening stance, given that March consumer prices are up 4% YoY at a lower rate b
The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Global Tax Free is the domestic leader in the domestic refund agency market. It improved its P/L structure during the Covid-19 crisis by slimming workforce. An earnings turnaround is expected
The South Korean government announced on March 29 that 22 countries, including the United States, Japan and Taiwan, would be exempted from the Korea Electronic Travel Authorization (K-ETA) requirement going into effect on April 1 this year until Dec. 31, 2024. This measure is to facilitate entry in