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Reporter : Lee Kyung-min
Thu, June 1, 2023 | 11:01
Indonesia wants more investment from Korean financial firms
The Indonesian government has and will continue to support the sustained robust performances of Korean firms looking to enter the Southeast Asian country, Indonesia's ambassador to Korea said Thursday. “Korean financial firms in Indonesia are improving a lot despite ongoing conflict, generating promising performances,” said Gandi Sulistiyanto, ambassador of Indonesia to Korea...
Korea-Indonesia partnership to bolster trade, investment, human exchanges
The possibilities of growth are endless from strengthened ties between Korea and Indonesia with a future-oriented vision underpinned in large part by greater partnerships in the areas of trade, investment and labor force utilization, the Southeast Asian country's ambassador said Thursday. “Korea's business opportunities in Indonesia are simply endless,” said Gandi Sulistiya...
POSCO International's pharma business helps improve healthcare system in Sudan
The pharmaceutical business of POSCO International, the general trading subsidiary of Korea's largest steelmaker, POSCO, is expanding into Sudan, Africa, in what the firm says marks significant efforts to advance its social contribution drives, as well as profit generation.
LG Innotek releases film-type chip substrate for metaverse devices
LG Innotek released a new product called 2-Metal chip-on-film (COF), which is an essential component of extended reality (XR) services using digital devices, the electronic components manufacturing affiliate of LG Group said, Wednesday.
KEPCO to sell non-essential assets, cut expenditures to secure $16 billion by 2026
Debt-ridden Korea Electric Power Corp. (KEPCO) plans to sell non-essential assets and cut expenditures to secure 20 trillion won ($16 billion) over the next five years as part of an emergency austerity measure to offset snowballing operating losses, the state-run firm said, Friday. Propelling the rushed effort to fortify financials is the recent spike in heating costs due to ...
Gov't to provide $293 billion in trade financing to revitalize exports
The government will provide a total of 360 trillion won ($293 billion) in trade financing and assistance with obtaining certifications for local exporters abroad as part of its efforts to boost the nation's faltering exports amid deepening global economic downturn, according to trade ministry officials Friday.
Unionized workers at Samsung Electronics' affiliates form alliance
A coalition of unionized workers at nine affiliates of Samsung Electronics formed an alliance, Thursday, in what they say will function as the first unified communication channel to have their collective demands better met. Among the affiliates involved are electronics, display, battery manufacturing, customer services and electronic goods sales. Market watchers say whether t...
Gov't to mandate fire-resistant materials in soundproof tunnels
The government will replace acrylic sheets with polycarbonate sheets and tempered glass when setting up soundproof tunnels, the infrastructure ministry said Thursday, in the latest measures to strengthen fire-proofing to prevent fire-sparked mass casualties. The cheap acrylic materials were the cause of extended and amplified damages from the fire on the expressway between Se...
SK oceanplant seeks future in oceans
SK oceanplant, an offshore wind power affiliate of SK Group, plans to become the first mover in the global top-tier offshore wind power generator industry. The subsidiary of SK ecoplant said Wednesday that it has been rebranded as SK oceanplant from Samkang M&T and adopted a new corporate identity.
Korea suffers record-high trade deficit in January amid falling exports
Korea registered an all-time high trade deficit of $12.69 billion (15.62 trillion won) in January, marking the 10th consecutive month of deficits, which were brought on by surging energy imports and plunging exports, the trade ministry said Wednesday. Experts say the recent slowed growth of exports will continue at least during the first half of this year, as global consumers...