South Korea and India reached a comprehensive agreement on additional commodity and service market opening within the framework of the Comprehensive Economic Partnership Agreement (CEPA).According to the agreement, South Korea and India will open their agricultural and fisheries and petrochemical ma
The second war between Samsung Electronics Co. and Chinese smartphone manufacturers, such as Xiaomi, Huawei, Oppo and Vivo, for the Indian market to win the 1.3 billion population has just begun. Samsung Electronics had the largest share of the Indian market until last year. However, the company had
KB Financial Group announced on July 10 that it signed a memorandum of understanding (MOU) with India’s Bank of Baroda on July 9 for comprehensive business cooperation.Bank of Baroda is the second largest state-owned bank in India with 5,400 branches.The two companies will work in the areas of perso
South Korean minister for SMEs and Startups Hong Jong-haak who accompanied President Moon Jae-in in his state visit to India said that a “Korean Startup Town,” where startups from both countries freely exchange and cooperate, would be forged in India, at the Korea-India Startup Agreement Signing Cer
Lee Jae-yong, vice chairman of Samsung Electronics, attended a ceremony for the opening of a new factory in Noida, Uttar Pradesh in northern India on July 9 (local time). During the ceremony, Lee met key local political and business leaders including Prime Minister Narendra Modi and discussed ways f
Jinro, a popular soju brand in South Korea produced by Hite Jinro Co., was the world’s most popular alcoholic drink in 2017, according to IWSR, a London-based company that tracks the alcoholic beverage market.Two other Korean soju brands were included in IWSR Real 100, a ranking of the world’s top 1
Korean Air said that the airliner will put into operation a new Boeing 777F freighter beginning on July 17 on the Incheon-Delhi route. Delhi is the trading and commercial center of northern India.Korean Air is currently operating passenger services in the Incheon-Mumbai route and the Incheon-Delhi r
The European Commission (EC) announced on July 6 that it has decided to implement provisional safeguard measures on imported steel within this month in order to protect European steel companies from U.S. steel tariffs.The EU is going to decide on a quota in view of the steel import volume for past s
South Korean President Moon Jae-in will meet with Samsung Electronics Vice Chairman Lee Jae-yong at a ceremony celebrating the completion of the company’s mobile phone and consumer electronics manufacturing plant in Noida, India on July 9. The President is currently staying in India with his economi
Samsung Electronics Co. projected its first quarterly profit decline in seven quarters. With the trade dispute between the United States and China escalating, even Samsung Electronics, which is considered one of South Korea’s economic pillars, sees its profits drop, unnerving the entire Korean busin
Mirae Asset Global Investments Co. said on July 5 that its assets under management (AUM) in India have reached 3.3 trillion won (US$2.95 billion or 200 billion rupee). The AUM of Mirae Asset's Indian operation had risen at the fastest rate out of all asset managers in the country for two consecu
South Korean President Moon Jae-in is making a state visit to India and Singapore from July 8 to 13. On July 9, he will attend a ceremony marking the completion of Samsung Electronics’ new smartphone manufacturing plant in India along with Samsung Electronics vice chairman Lee Jae-yong, who is the o
Trade barriers against South Korea are rising across the world in the wake of the trade war triggered by the United States.According to a recent report from the Korea International Trade Association, a total of 202 import restrictions are in effect in 27 countries as of July 2. For reference, the nu
As US President Donald Trump has threatened to impose a 25 percent hefty tariff on imported cars, the Hyundai Motor Group is reviewing a plan to produce some of its next-generation models at its Georgia plant in the US, including the next model of the Soul which is scheduled to be produced in South
Seoul is the fifth most expensive city in the world for expats, according to an annual cost of living report produced by global consulting firm Mercer.Mercer Korea said on June 26 that Hong Kong is the world’s most expensive city for expatriates. Tokyo came in second place, Zurich third, Singapore f
Hyundai Rotem announced on June 26 that it has won an order for 80 driverless light rail vehicle (LRV) units from Taoyuan City, Taiwan.Hyundai Rotem will supply the system facilities for communication, control, and inspection together with the cars. The total project is estimated to be 542.4 billion
The Korea Trade Insurance Corporation (K-SURE) will provide US$1 billion to help an Indian mobile operator expand its network.K-SURE signed a financing contract with Reliance Jio Infocomm in Romania on June 22. About 30 South Korean companies, including Samsung Electronics, participate in the networ
LS Cable will make a foray into the Indonesian cable market by establishing a production base in partnership with a local company.LS Cable announced on June 18 that the company has signed a contract with ArthaGraha Network (AG Group) to set up the joint venture. A signing ceremony was held at the Em
Asian live buffet restaurant InStyle at Seoul Dragon City, Korea’s first-ever lifestyle hotel-plex, holds World BBQ Feast, which offers a feast of flavors from all around the world, until August 31.Timed with the forthcoming summer season and under the "gastronomic journey" concept, the latest promo
South Korean shares reacted relatively calmly on June 12 to the North Korea-US Summit which is hailed as "talks of the century." This is because there are a number of big events waiting like the Federal Open Market Committee (FOMC) even after the North Korea-US Summit. Some investors show expectatio