It has indeed been a hectic summer. Our hot summer days were filled with the joys of the World Cup, excitement yet nervousness about the local elections, and most recently, worries over those affected by Typhoon Kompasu. Drastic switches from scorching sunlight to pouring rain seem to have left us dumbfounded. However, as the season now begins to change, the cooler weather brings us new issues to concern ourselves with and new events to look forward to. Korea found itself torn between the U.S and Iran when the U.S Treasury Department issued Iranian Financial Sanctions Regulations on August 17. A long time ally to Korea, the U.S asked Korea to back the sanctions, but Korea also boasts a good relationship with Iran. Our Focus section deals closely with what kind of situation Korea has been placed in and gives details of the U.S' requests.
Examining Korea's diplomatic relationships more closely, we also followed up with Korea's diplomatic ties with Libya after the alleged spy incident. The Libyan government deported one Korean intelligence officer as 'persona non grata', accusing him of secretly gathering information about their leader Moammar Gadhafi. Diplomatic ties were suspended as misunderstandings were chosen to be believed rather than proven facts. Two months after the incident, the current Korea-Libya relationship is investigated in our Nation & Politics section.
Meanwhile, Korean businesses have turned to Smart Grid technology to fulfill their social obligations as well as improve their business activities. Many large corporations are applying Smart Grid technology to their fields of expertise, helping them to not only increase energy efficiency but also earn respect from consumers as a “green” company. Our Cover Story begins with an interview with the Director of the Electric Power Division under the Ministry of Knowledge Economy. He discusses how he believes Smart Grid technology can lay the groundwork for green growth.
In our Industry & Company section, we directed our attention to the second cell industry. Global warming and environmental issues have taught us that renewable energy is the only way we will be able to coexist with nature. Companies have realized this as well and are now looking for ways to develop and create renewable products. As a continuation of the last issue, we have prepared an IT and Technology news section. Korea's latest developments and policies regarding IT have been summarized into short news clippings. From electric cars to applications for smart phones, Korea's IT industry is continuously working to stay at the forefront and strives to serve as an inspiration to others who may want to follow in Korea's footsteps.
As always, we thank you for your continued interest in BusinessKorea.