May, the season of verdure and family reunions, is the most active and liveliest month of the year. Frankly speaking, I said to myself this time again, “I could have worked harder to provide our readers with something better...”
This year’s May had many twists and turns, including our frustration and anger regarding the attack on Cheonan warship and preparation for a local election scheduled in June. Despite such a turbulent environment, all of us here at BusinessKorea have strived to continue working with passion and composure on every article. Our Cover Story this month provides you with in-depth articles regarding the “success strategies of Korean banks in transition.” These articles aim to reveal how Korean banks are responding to changes in the domestic and international financial market paradigms brought about by the financial crisis in southern Europe. Our Special Report Section celebrates the 15th Marine Day on May 31, 2010, and features articles on the Korean shipping industry which has increased Korea’s profile as a pioneer of global trade in the marine industry by helping to promote smooth international logistics. The Focus Section introduces the trends of Korean industries preparing for new financial statements in order to correspond with the International Financial Reporting Standards (IFRS) as well as its background. The Economy & Finance Section looks at Korean companies’ responses to the weakening Euro currency as well as the negative effects brought about by it.
Our Company Section features the corporate activities of various companies, including Hyundai Heavy Industries, Samsung Heavy Industries, LS Cable, Doosan Engineering and Construction, GS Caltex, Samsung SDS and Korea Western Power in order to show our readers the most lively sectors of Korean industry. The Culture Section features an interesting and informative article on Kooksoondang Brewery Co., Ltd. which has recently announced plans to make makgeolli (raw rice wine) using 100 percent Korean rice in response to the recent craze for makgeolli in Korea. The Stock & Investment Section introduces the investment patterns of numerous funds, including the National Pension Service whose portfolio was recently rearranged. And finally, our Energy & Green Biz Section provides you with an opportunity to become familiar with Ulsan city, where an expansion of the carbon points system is leading to great environmental protection effects.
I am as always forever grateful to our Korean and overseas readers who have consistently supported BusinessKorea and would like to take this opportunity to wish you all good health and good luck. We promise to come back to you with an even better edition in June.