President Park Geun-hye visited the Daedeok Techno Valley in Daejeon on Nov. 29, 2013 on the occasion of the 40th anniversary of establishment of the Valley, and asked the scientists, researchers and officials working there to make the Valley the 'Home of Creative Economy.’She told them that her fat

Korea’s top business conglomerate, Samsung Business Group, has struck a ‘big deal’ with Hanwha Business Group, and sold four of its affiliate companies to Hanwha for 1.9 trillion won (US$1.73 billion). The four companies are Samsung General Chemicals, Samsung Techwin, Samsung Thales and Samsung Tota

“All the successive Presidents of the Republic of Korea have been had by the jaebeol tycoons.” So said former Prime Minister Chung Un-chan at a recent interview with Dong-A Ilbo.He said: “Deceived by jaebeol are President Park Geun-ye and all her predecessors. In order to induce jaebeol to make inve

Deputy Prime Minister (DPM)/Minister of Strategy & Finance Choi Kyung-hwan stated that it is too early to say that the Korean government has lost 36 trillion won (US$32.28 billion) after investing 41 trillion won (US$37.44 billion) in overseas resources development. Choi said that there are strong p

On Nov. 1, 2014, the Korea United Pharm (Chairman: Kang Duk-young), a leading pharmaceutical company in Korea, celebrated its 27th anniversary celebration ceremony at the Sejong Culture and Arts Center in Sejong City attended by the executive members and employees of the company as well as ranking g

Korea Aerospace Industries Ltd. (KAI) has disclosed that its partner companies have successfully developed key aircraft-related software that could make it possible for the country to do away with approximately 32.8 billion won of imports through 2020. The announcement was made by KAI, Korea's sole

To quit smoking or not to quit--that is the question. Beginning on the New Year’s Day in 2015, the smokers in Korea will have to pay 4,500 won (US$4.35) per pack of cigarettes, which is almost double the present price of 2,500 won per pack. The government has also decided to use an indexation system

Korea? 2014 annual GDP growth is likely to close at 3.4%, affected by ?igh 1H-Low 2H?trend, owing to a slower global recovery, drop in exchange rates and lower consumer spending. This was disclosed by the Korea Economic Research Institute (KERI) on July 8, 2014 in its Economic Bulletin on the econom

The increase rate of the Gross Domestic Product (GDP) of the Republic of Korea this year will be 3.8%, which is .2% lower than had been forecast last April when it was estimated at 4.0%. This was recently disclosed by the Bank of Korea (BOK).The main cause of this is the Sewol Ferry Case which retar

The Survey Index (BSI), a survey of the top 600 companies of the Republic of Korea in terms of sales four consecutive months. This was recently disclosed by the FKI.A BSI reading below the break even 100 mark indicates that companies are pessimistic about their business. Their pessimism is ascribed

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- Global Be(er) Responsible Drinking Campaign to kick off on September 19, globally, on the same day other countries - - Family Talk program to be introduced for the first time in Korea as part of a preventive program for young adolescents who are underage - Sept. 18, 2014--OBC is embarking on a glo

President Zakaria Usman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that Pakistan has five major reasons for the Korean businesses to invest in Pakistan. He enumerated Pakistan has: (1) an irresistible geo-strategic location, (2) a lot of people (nearly 200 million)

SK Hynix Inc. (www.skhynix.com) recently announced that it has developed the world’s first highest density 128GB module based on 8Gb DDR4 using its advanced 20nm class technology.This module has double density compared to existing 64GB by taking advantage of TSV (Through Silicon Via) technology. Thi

Rep. Chang Byoung-Wan of the Democratic Party (chief policy maker) said that the revenue of the businesses have increased but the family income has decreased with the result that consumption fell and this, in turn, brought about slow domestic economy. He also stated that the government has levied mo

FINANCE“Sarangbang Bus Service” marks 1st anniversaryFSS addresses financial problems ofsocially weak and alienated persons ▲Chairman Choi Soo-hyun of the Financial Supervisory Service (sixth from left) and President & CEO Shin Chung-shik of Nonghyup Bank (fourth from right) hold a sign indicating t

ECONOMYEuropean countries have high transparency, bigger revenue Want a high per-capita GNI?Get rid of official corruption! ▲From left: The late former Chairmen Lee Byung-chul of the Samsung Business Group, Koo In-hoi of the Lucky-Goldstar (now LG) Business Group, Chung Ju-yung of Hyundai Business G

UZBEKISTANUzbekistan welcomes foreign investorsUzbekistan uses Uzbek model of transi-tion to socially oriented market economyFrom the outset of Independence, Uzbekistan has been following its own path of development - the Uzbek Model -- of transition to a socially oriented market economy based on fi

FINANCEWhich provides detailed data on official development assistance of KoreaKorea Eximbank publishes“2013 ODA by Numbers”The Export-Import Bank of Korea (Korea Eximbank) has published “2013 ODA by Numbers,” which provides detailed data regarding to the official development assistance(ODA) of Kore