The government has decided to announce measures in February to address the risk of foreign investors’ failure to settle foreign exchange payments as part of the structural improvements in South Korea’s foreign exchange market, which are set to begin in earnest in July.The plan is to manage the risks
Nine out of 10 Korean manufacturers believe that overseas carbon neutrality policies such as those in the United States and Europe affect their business operations, a survey found.According to the Korea Chamber of Commerce and Industry (KCCI), which recently surveyed 300 Korean manufacturing compani
The Korea Investment Corporation (KIC) has announced on Feb. 5 that it achieved a double-digit rate of return last year, with total assets under management increasing by over US$20 billion (26.71 trillion won).The KIC revealed on the same day that the annual rate of return for the year 2023, denomin
The government has announced its plan to expand the global Korean cuisine industry to a scale of 300 trillion won by 2027. The strategy involves increasing the number of overseas Korean restaurants to 15,000 and more than tripling the number of Michelin-starred Korean restaurants compared to the cur
GS E&C’s business license has been suspended for eight months for the collapse of an underground parking lot that occurred in 2023. A lot of attention is now being paid to whether its business operations will be affected by the suspension.According to sources in the construction industry on Feb. 2,
The sale of ECORBIT, which is considered the key element in the normalization of Taeyoung Engineering & Construction, is gaining momentum with the selection of lead managers. UBS and Citigroup Global Markets Securities, two global investment banks (IBs), have been assigned the task.According to sour
The Ministry of Land, Infrastructure and Transport of South Korea announced on Jan. 29 that it will start accepting applications from Jan. 30 for this year’s K-City Network Global Collaboration Project. This initiative aims to establish a smart city cooperation network with foreign nations and suppo
POSCO Group is making significant strides into the clean hydrogen sector in collaboration with the Abu Dhabi National Oil Company (ADNOC), a state-owned petroleum company in the United Arab Emirates (UAE).POSCO International announced on Jan. 31 that it has signed a “strategic cooperation agreement
China Unicom Beijing and Huawei have successfully deployed a pilot large-scale 5.5G network in Beijing to provide continuous coverage in three key areas, including Beijing Financial Street in the city center, the landmark Beijing Long Distance Call Building, and multipurpose Workers' Stadium. This f
The Korea Investment Corporation (KIC) announced on Jan. 29 that it has established its fifth overseas hub, following the opening of offices in New York, London, Singapore, and San Francisco.The new hub is the Mumbai office in India, marking the KIC’s first overseas presence in an emerging market. T
The Ministry of SMEs and Startups (MSS) is actively moving forward with the designation of new global innovation districts this year. Simultaneously, it is focusing its efforts on strengthening global collaboration programs to foster the venture ecosystem. The ministry plans to strengthen support fo
SoftBank Ventures Asia is officially changing its company name to SBVA from beginning of February 1st after The Edgeof acquired the company from SoftBank Group Corp.(SBG) in June of last year. The new SBVA embraces the concept of technological singularities and the broader impacts of the virtues of
Following the election of an anti-China candidate in the Taiwanese presidential election, the geopolitical risks associated with Taiwan, a central player in the global semiconductor supply chain, have elevated the roles of Southeast Asian countries like Malaysia, Singapore, and Vietnam as new global
Artificial Intelligence (AI) stands at the forefront of the technology supremacy battle between the U.S. and China this year.On Jan. 26, U.S. Commerce Secretary Gina Raimondo stated in an interview with Reuters that regulations mandating U.S. cloud companies to report foreign customer information fo
SK telecom anticipates further advancement in artificial intelligence (AI) technology this year, with plans to enhance its AI personal assistant “A.” and secure allies in the global market for tangible results.On Jan. 25, Yoo Young-sang, CEO of SK Telecom, discussed the company’s AI strategy with th
Alipay+ announced that it has signed a memorandum of understanding (MOU) with the Korea Tourism Organization (KTO) on January 24 to together revitalize inbound tourism and ensure a more convenient and seamless checkout experience for international tourists visiting in the country.Under the MOU, the
On Jan. 24, the Korea Water Resources Corporation (K-water) signed a memorandum of understanding (MOU) for the development of technology to optimize the quality of water resource satellite imagery with the German Aerospace Agency. The agreement took place at the K-water Research Institute in the Yus
NEOPIN, a decentralized crypto banking service, announced today that it has signed a strategic business agreement (MOU) with Catalyze Research (Catalyze), a web3 and blockchain consulting firm, and Futureverse, a metaverse, artificial intelligence (AI), and infrastructure development company, to exp
Daewoo Engineering and Construction announced on Jan. 23 that it has completed the construction of the Mumbai Trans Harbour Sea Link, the longest sea bridge in India.In 2018, Daewoo E&C started its participation in the the Mumbai Trans Harbour Sea Link construction project through a joint venture wi
The government is set to implement a comprehensive plan for “smart cities” incorporating new technologies. The primary focus is accelerating the entry into foreign markets through the restructuring of the “K-City Network” project. This initiative aims to strengthen the global competitiveness of Kore