Korea Land and Geospatial Informatix Corp. (LX) is a state-run corporation that offers cadastral survey services and various cadastral spatial data. The corporation, which was selected as an excellent company for shared growth by the Korean Ministry of Land, Infrastructure and Transport last week, a

The working group for the establishment of the Third National Energy Plan submitted its recommendations to the Ministry of Trade, Industry & Energy on Nov. 7, proposing to raise Korea’s renewable energy-based power generation ratio from 7.6% in 2017 to 25%-40% by 2040.“We proposed 40% at first, but

South Korea's current account surplus in September topped US$10 billion (11.25 trillion won) on the back of brisk exports amid an expansion in the global trade volume.The transport account balance, which fell with the slowdown in the global shipping industry, turned into a surplus for the first

Financial Services Commission (FSC) Chairman Choi Jong-ku hinted at abolishing the securities transaction tax on the South Korean equity market. As investors have to pay the tax even when they suffer a loss from equity investment, there has been criticism that it goes against the principle of taxati

Korea Chamber of Commerce and Industry (KCCI) Chairman Park Yong-man said on Nov. 5 that there are still too many regulations for South Korea to embrace Industry 4.0.He cited the Personal Information Protection Act as one of the biggest obstacles to Industry 4.0. “Big data accumulation and research

The South Korean government has acknowledged that the ratio of state-run enterprises’ debts to the nation’s GDP is relatively high. This is the first time that the Moon Jae-in administration admitted the seriousness of public enterprises’ debt problems.According to the Economy & Finance Ministry’s r

The U.S. government has reportedly requested certain South Korean business groups to report their business plans related to North Korea. The heads of these business groups visited North Korea in September this year for the third inter-Korean summit.According to industry sources, the Embassy of the U

South Korea's exports totaled US$54.97 billion last month, a 22.7 percent surge from a year ago. The figure represented the second-highest monthly figure since September 2017.According to the data released by the Ministry of Trade, Industry and Energy on Nov. 1, the October export growth was led

The number of Korean venture companies with annual sales of more than 100 billion won (US$88 million) increased to 572 last year, with total sales reaching 130 trillion won (US$114.4 billion) and average sales reaching 230.5 billion won (US$202.9 million), according to a survey.The Ministry of SMEs

Korea’s composite index of coincident indicators, which shows the current economic situation, fell for the sixth consecutive month in September, implying that the South Korean economy has entered a slowdown phase. Both production and consumption decreased along with capital expenditures, with the on

South Korean President Moon Jae-in confirmed the initiation of the Saemangeum Renewable Energy Project on Oct. 30 by unveiling his renewable energy vision during a ceremony held at the floating solar power plant of Gunsan, North Jeolla Province. The project involves building solar power generation f

Korea's industrial production fell 1.3 percent in September from the previous month due to sluggish mining and other industries. It was the sharpest drop in five years and six months.Facility investment rose for the first time in seven months, but consumption recorded the sharpest decline this y

The U.S. government has escalated its trade war with China by restricting exports of U.S. semiconductor production equipment to a Chinese state-backed chipmaker.According to wire reports, the U.S. Department of Commerce said on Oct. 30 that it had put Fujian Jinhua Integrated Circuit Co. (JHICC) on

The Korean government’s plan to create a large a renewable energy production complex in Saemangeum, a vast tract of reclaimed land on the west coast, has met with stiff opposition.On Oct. 30, President Moon Jae-in unveiled his vision for the renewable energy complex during a ceremony held in the sou

The energy, petrochemical and bio industries have the highest growth potential among South Korea’s top 10 key industries, according to a recent survey.The survey was conducted by a research group under Professor Ryu Seung-wan from Chung-ang University Business School. The team analyzed South Korea’s

The Korea Economic Research Institute (KERI) has urged the Korean government to introduce management rights defense measures in a hurry to block activist hedge funds.The institute has recently analyzed a report from Activist Insight, a company researching data related to activist hedge funds, and fo

The composite leading indicator (CLI) of South Korea provided by the OECD fell for 17 months in a row. Concerns are rising over the present and future of the South Korean economy.According to the OECD, South Korea’s CLI was 99.2 in August this year, down 0.1 point from a month earlier. The CLI is to

The South Korean government will provide 15 trillion won (US$13.23 billion) in low-cost loans to small and medium-sized enterprises (SMEs) within the year in order to help them modernize their production facilities and increase investment in safety and environmental production measures.The governmen

The South Korean government announced on Oct. 24 a new package of measures aimed at promoting innovation-led growth and creating jobs.The package included measures to ease regulations in the healthcare sector. The Ministry of Health and Welfare will publish a manual in March next year to clarify the

The United States has eliminated its anti-dumping duty on polyethylene terephthalate (PET) resin from South Korea.According to the Korea International Trade Association, the U.S. Department of Commerce made the decision on October 18 (local time) based on its anti-dumping investigation into the item