As South Korean society is rapidly aging, it has been diagnosed that elderly poverty is serious due to a lack of preparation for retirement.Oh Tae-hee, head of the Bank of Korea, and Lee Jang-yeon, an assistant professor at Incheon National University, said during a meeting at the Employment Panel S
The Korea Venture Business Association (KOVA) held a global investor relations (IR) program to support venture companies' entry into the German and European markets.The Korea Venture Business Association (KOVA) announced on June 1 that it held a “Global IR Program” on May 31 in collaboration wit
TmaxSoft, a leading system software company, announced on June 1 that it has been selected as a partner for Amazon Web Services' “AWS ISV Accelerate Program.”The AWS ISV Accelerate Program is a co-sales program for companies that provide solutions running on or integrated with the AWS cloud. Par
Daewoo Engineering & Construction (E&C) announced on May 31 that Chairman Jeong Won-ju met with President Serdar Berdimuhamedow at the Presidential Palace in Ashgabat, Turkmenistan's capital on May 29 (local time).Chairman Jeong conveyed his gratitude for Turkmenistan's warm reception and ke
HD Korea Shipbuilding & Offshore Engineering (KSOE) announced on May 31 that it has formed a consortium with 14 institutions in Europe, including the American Bureau of Shipping (ABS) and Dresden University of Technology, to commence joint development of large liquefied hydrogen cargo tanks from nex
Hanwha Aerospace announced on May 30 that it has invested in a U.S. startup that possesses advanced nano-coating technology that prolongs the lifespan of secondary batteries.The investment was made in Forge Nano, a U.S. materials engineering startup, in participation with American investment firms O
Korean company Doosan Enerbility has taken a big step toward mass-producing nuclear fusion energy.Doosan Enerbility announced on May 29 that it has shipped a pressurizer to the International Thermonuclear Experimental Reactor (ITER). The device was designed and manufactured by Doosan Enerbility. The
SK ie technology (SKIET) announced that it has secured a significant funding amount from the International Finance Corporation (IFC), a branch of the World Bank Group.On May 24, a signing ceremony for the green loan totaling US$300 million (approximately 400 billion KRW) was held at the Fairmont Hot
On May 25, Mirae Asset Global Investments announced that they hosted the ETF Rally 2023 in Seoul and Hongcheon, Gangwon Province, from May 22 to 24.The ETF Rally served as a forum for Mirae Asset Global Investments ETF employees from around the world to gather, share insights into the global ETF bus
Senior members of the Ukrainian and Polish governments asked Korean Minister of Land, Infrastructure, and Transport Won Hee-ryong to make investment in the Three Seas Initiative (3SI) during Won’s visit to Poland to discuss Korea’s participation in Ukraine’s reconstruction project.The 3SI envision t
Samsung Display has rolled out the Rollable Flex and Sensor OLED Display, innovative technologies that could reshape the Organic Light Emitting Diodes (OLED) industry paradigm.Samsung Display announced its participation in Display Week 2023 held in Los Angeles, California, from May 23 to 25 (local t
Shinhan Card announced on May 19 that it held a seminar under the theme of “Public Policy Establishment Cases Utilizing Big Data” at Shinhan Card's headquarters on May 18, inviting policy makers from the Hungarian Ministry of Finance and the National Tax Administration of Hungary.The seminar was
Lotte Construction and Hyundai Engineering have shown interest in Ukraine's post-war reconstruction and petrochemical projects.On May 16, the Ukrainian Ministry of Economic Development announced during the Korea-Ukraine Future Cooperation Meeting held at the Chamber Lounge of the Korea Chamber o
Hana Financial Group announced the opening of Hana Financial Group Youth IT Academy to foster global IT talent at the St. Regis Hotel in Indonesia on May 11.Hana Financial Group Youth IT Academy is a comprehensive IT talent development program for IT students at the National University of Indonesia
The author is an analyst for Shinhan Securities. He can be reached at jhwon@shinhan.com -- Ed.Classys posted consolidated sales of KRW39bn (+10.2% YoY) and operating profit of KRW19.9bn (+19.1% YoY, operating margin of 51.0%) for 1Q23, meeting consensus estimates.Sales of medical aesthetics devices
The Korean government will launch an international standardization project with major conglomerates such as Samsung Electronics, SK, and Hyundai Motor to establish a system for Carbon Free 100 (CF100). CF100, which requires all electricity to be supplied by carbon-free energy sources including nucle
LS Cable & System announced on May 8 that it has won a KRW 2 trillion (US$1.5 billion) order for high-voltage direct current (HVDC) cables from Dutch state-run utility company TenneT. The Korean cable maker will participate in a project to connect offshore wind farms in Europe’s North Sea and inland
The Korea Customs Service held K-Customs Week 2023 in Seoul on April 26. The heads of the customs authorities of 75 countries attended the three-day conference and adopted a joint statement to work more closely together for digitalization of customs administration, non-tariff trade barrier eliminati
President Yoon Suk-yeol and Vice President Kamala Harris met at the NASA Goddard Space Flight Center on April 25. There, NASA Deputy Administrator Pam Melroy and Science and ICT Minister Lee Jong-ho signed a joint statement for cooperation in fields including space science and exploration.The South
Pernod Ricard Korea, the Korean unit of the wine and spirits company Pernod Ricard, has been operating annual digital campaigns since 2020 as a means to promote responsible drinking. The company has been working to provide consumers with simple tips for responsible drinking that can be easily practi