A grand Queen’s Birthday Ball is going to be held to celebrate Her Majesty’s 90th birthday at the Grand Hyatt, Seoul on June 4, 2016. The largest annual dinner celebration of the British community in Korea aims to honour the birthday of Her Majesty Queen Elizabeth II and raise funds to support chari
The Philippine Embassy in Seoul led by the Philippine Ambassador to South Korea Raul S. Hernandez, together with the Chairman of the National Commission for Culture and the Arts (NCCA) Professor Felipe M. de Leon Jr., inaugurated Sentro Rizal Seoul on March 6, 2016, on the 2nd floor of the Embassy C
On Feb. 22, the Australian Embassy in Seoul joined Australian restaurateur Bill Granger to showcase Australian café culture in a special event to mark the opening of iconic Australian restaurant bills in Gwanghwamun.At the reception guests enjoyed a delicious Australian-style menu and fine Australia
The European Chamber of Commerce in Korea (ECCK) held its 2016 New Year Party at the Grand Hyatt in Jan 28.H.E. Gerhard Sabathil, the ambassador of the head of the delegation of the European Union to the Republic of Korea, delivered a congratulatory speech on the occasion. He stressed the importance
Citizens of the Republic of Korea will be able to get a single entry visa to Azerbaijan beginning today. A 30-day visa will be granted to Korean citizens at all international airports of the Republic of Azerbaijan upon their arrival. The visa section of the Consular Departments of the Ministry of Fo
The total business losses of Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries for last year are estimated at more than eight trillion won. Specifically, the amount is estimated at approximately 5 trillion won for Daewoo and about 1.5 trillion won for ea
The Korean government will concentrate its R&D budget investment in the nine new and emerging industries of ICT & software, biotechnology & healthcare, energy & resources, materials & nanotechnology, machinery & manufacturing, primary & food, aerospace & ocean, construction & transport and environme
Another China shock is affecting the Korean economy from the onset of this year. According to industry sources, the value of the Chinese currency is estimated to fall to 6.5336 yuan per U.S. dollar six months from now (down 0.6 percent compared to the beginning of this year) and to 6.7207 yuan at th
The Korean government is looking to bring in omnibus accounts for foreign investors in a bid to have the Korean stock exchange included in the Morgan Stanley Capital International Index All Country World Index Free (MSCI ACWI). Its plan is to join the watch list in June this year and the index next
According to the Bank of Korea and Justice Party lawmaker Park Won-seok, who is a member of the Strategy & Finance Committee of the National Assembly, Korean households’ additional interest burden amounts to 1.9 trillion won on the assumption that the central bank raises the key rate by 0.25 percent
The total net asset of ETFs in Korea exceeded 21 trillion won (US$17.5 billion) last year for the first time ever.The Korea Exchange announced on Jan. 7 that the amount increased by 10 percent to 21.63 trillion won last year. The previous high had been 19.656 trillion won, recorded in 2014.In the fo
Samsung Electronics and LG Electronics are competing to gain supremacy in the next-generation TV market at the Consumer Electronics Show (CES) 2016, the largest home appliance exhibition in the world. Samsung Electronics sought to differentiate itself with the SUHD TV with the second-generation quan
As more stylish and luxurious smartwatches have been unveiled at the ongoing Consumer Electronics Show (CES) 2016 in Las Vegas, the war of smartwatches is intensifying.Samsung Electronics showcased two new high-end versions of its Gear S2 Classic watch at the CES 2016 on Jan. 7. The new Gear S2 Clas
BMW sold the largest number of imported vehicles in Korea last year to beat its top rival and fellow German carmaker Mercedes Benz by a narrow margin. Volkswagen ranked third despite the emissions scandal occurring in the second half of 2015 and Audi came in fourth.According to the annual imported c
Korea Aerospace Industries (KAI), South Korea's sole aircraft manufacturer, signed a formal contract with the Indonesian Ministry of Defense and Indonesian state-run defense firm PT Dirgantara Indonesia (PTDI) for the co-development of the Korean Fighter Experimental (KF-X) fighter aircraft.The comp
SK Telecom, the nation’s top mobile carrier, announced on Jan. 7 (local time) that it successfully demonstrated cooperation between different Internet of Things (IoT) standards, including the one-machine-to-machine (oneM2M) and open interconnect consortium (OIC), at the ongoing Consumer Electronics
GM Co., the local unit of U.S. carmaker General Motors Co., announced on Jan. 7 that its Chevrolet brand revealed the production version of the 2017 Chevrolet Bolt EV at the Consumer Electronics Show (CES) 2016 in Las Vegas on Jan. 6 (local time).The Bolt EV, which will go into production by the end
SK Innovation Vice Chairman Chung Chul-khil set forth “structural reform” as the company’s key business goal for 2016 during a high-level gathering of its the company and its five affiliates.Chung said, “To actualize our goal to reach a market valuation of more than 30 trillion won (US$25 billion) a
The Bank of Korea announced on Jan. 6 that Korea’s foreign exchange reserves increased by approximately US$4.4 billion last year to total US$367.96 billion as of the end of last year.The amount decreased by US$1.14 billion in November and US$500 million in the following month as the amount of the ce
The Korea International Trade Association (KITA) announced on January 6 that Korea’s semiconductor exports declined by 7.7 percent from a month ago to US$4.79 billion last month. The export of semiconductor memory chips fell for three consecutive months due to a low demand, showing a decrease of 6.4