Headline, June 15, 2021

Tuesday, June 15, 2021

Round-up of important news from major Korean dailies and from international media today

The Korea Post (http://www.koreapost.com/)

Bangladesh, Korea have great potentials for stronger partnership in pharmaceutical, shipbuilding, IT and innovation

Ambassador Abida Islam of the People's Republic of Bangladesh in Seoul said, "Bangladesh is one of the fastest-growing economies in the world. Though ready-made garments have been the economy's driving force, Bangladesh is diversifying its economy to pharmaceuticals, I.T., shipbuilding, and others. We applaud South Korea's world-renowned efficiency in pharmaceuticals, ICT and innovation, and I am looking forward to forging a closer partnership with Korea in these sectors in the coming years." Speaking at an exclusive interview with The Korea Post media, publisher of 3 English and 2 Korean-language news publications since 1985, Ambassador Islam said, " there are several potential areas where both Korea and Bangladesh could partner together for mutual advantage." Ambassador Islam then stated: "Bangladesh has a stable and growing market of over 160 million people with a strong pharmaceutical base. It produced the generic version of 'Remdesivir' during the pandemic, a drug used for the treatment of COVID-19, and exported quarantine products like masks and PPEs to the United States.

Will Yoon Seok-yeol join the main opposition People Power Party under young chairman?

Newly elected Chairman Lee Jun-seok of the main opposition People Power Party (PPP) on June 12 unofficially designated 58-year-old National Assemblyman Seo Bum-soo as the secretary general of the PPP and National Assemblyman Hwang Bo-seung as senior spokesman of the party. Reps. Seo and Wang are both first-time members of the National Assembly who have never been a National Assemblyman before. Reports indicate that Hwang and Seo both accepted Lee’s offer. Chief secretary is in a key position at a political party in Korea, who helps the party chairman with in a closest distance from the chairman. Reports indicate that there would be many area scenes in the future, including one where 68-year-old President Moon Jae-in would be meeting an opposition party chairman (Lee Jun-seok) who is 3 years younger even than Moon’s youngest son, Moon Joon-young.

President Moon Jae-in leaves for Britain to attend G-7 summit

President Moon Jae-in left Seoul on June 11 for Britain to attend an annual Group of Seven (G-7) summit, as part of his weeklong trip to Europe, including Austria and Spain. Moon is to return to Seoul on June 18 President Moon is scheduled to join the G-7 session as a guest invited by British Prime Minister Boris Johnson, the host of the three-day event to take place until June 13 at the Carbis Bay Hotel in Cornwall. President Moon Jae-in waves to well-wishers as he departs from Seoul Air Base, south of Seoul, on June 11, 2021. Moon is expected to have discussions on how to address such global challenges as a health crisis, climate change, and trade disputes at the international event. Moon said the G-7's invitation for South Korea to its annual summit reflects the rise of its international status to a level on par with G-7 countries.

KBS (http://world.kbs.co.kr/english/news/)

S. Korea, Austria Agree to Elevate Bilateral Ties to 'Strategic Partnership'

South Korea and Austria have agreed to elevate their ties to a "strategic partnership" during talks between President Moon Jae-in and Austrian Chancellor Sebastian Kurz. The two made the agreement on Monday, noting that the two sides have constantly developed friendly and cooperative relations for 129 years based on mutual trust and common values. South Korea has become the second country after Switzerland with which Austria forged a strategic partnership. In 2022, the two sides will commemorate the 130th anniversary of establishing diplomatic ties. Moon and Kurz agreed to upgrade the relationship for "forward-looking partnerships" in various areas of politics, economy, science and technology, and culture and arts. The two also agreed to enhance cooperation in responding to climate change and in eco-friendly industries including electric cars.

S. Korea to Conduct Dokdo Defense Drill Tuesday

The South Korean military will conduct an annual military exercise around the Dokdo islets in the East Sea on Tuesday. The drill, named the East Sea Territory Protection Exercise, will reportedly involve the Navy, the Air Force and the Coast Guard. The Marine Corps will not join this year's exercise, as no landing drill will take place. According to a government source, while a training exercise in the second half of last year was scaled down due to weather and the COVID-19 pandemic, this year's exercise will be conducted on a scale similar to past years. South Korea launched the Dokdo drills in 1986. Since 2003, it has conducted the training twice a year, usually in June and December. Japan, which also claims ownership over the islets, has repeatedly protested the drills.

US Supports Provision of COVID-19 Vaccine to N. Korea

The U.S. State Department said on Monday that the United States has no immediate plans to provide COVID-19 vaccines to North Korea but supports international efforts to assist the country in coping with the pandemic. A department spokesperson told Yonhap News that while the U.S. has no plans to provide vaccines to North Korea, it continues to support international efforts geared toward providing critical humanitarian aid to the most vulnerable North Koreans. The remarks come after South Korean President Moon Jae-in said Seoul will actively push for cooperation on supplying North Korea with vaccines if Pyongyang agrees. Moon made the remark in a joint media conference with Austrian President Alexander Van der Bellen on Monday, saying that the U.S. also actively supports humanitarian cooperation with the North.

Yonhap (http://english.yonhapnews.co.kr)

Moon hopes for closer parliamentary ties between S. Korea, Austria

South Korean President Moon Jae-in met Monday with the leader of Austria's parliament and expressed hope for closer cooperation between the two countries' lawmakers. Moon and Wolfgang Sobotka, president of the Austrian National Council, had discussions on such issues as relations between the countries and their parliamentary-level exchanges, according to Cheong Wa Dae, the presidential office. Sobotka hailed a decision by the governments of the two countries to upgrade bilateral ties to a "strategic partnership." The agreement was reached during Moon's talks with Chancellor Sebastian Kurz. Moon is on a three-day state visit here from Sunday. He is the first South Korean president to make a trip to Austria since they forged formal diplomatic ties 129 years ago.

Sobotka pledged every necessary support for the development of bilateral ties in a forward-looking and mutually beneficial way, Cheong Wa Dae said.

Moon says S. Korea to push for COVID-19 vaccine supplies if North Korea agrees

South Korean President Moon Jae-in said Monday that his country will push proactively for cooperation with North Korea on COVID-19 vaccine supplies, in case Pyongyang provides consent. He pointed out South Korea's efforts to emerge as a "global vaccine production hub." "If that is the case, North Korea would be a partner for cooperation, of course," Moon said during joint press conference with his Austrian counterpart Alexander Van der Bellen following their summit talks at the Hofburg Palace in Vienna. "If North Korea agrees, (we) will push proactively for cooperation on vaccine supplies for it," he added, as he emphasized the importance of ensuring equitable vaccine access for developing countries in order to overcome the coronavirus crisis. Moon added that the United States is actively supportive of humanitarian cooperation with North Korea. Moon had his first face-to-face summit talks with U.S. President Joe Biden at the White House in late May. Biden expressed support for inter-Korean dialogue.

Japan unilaterally cancels plan for talks between Moon, Suga: official

Japan called off agreed-upon talks between President Moon Jae-in and Japanese Prime Minister Yoshihide Suga during the Group of Seven (G-7) meeting in Britain due to Seoul's regular exercise to defend its easternmost islets of Dokdo, a foreign ministry official said Monday. Seoul and Tokyo had reached a tentative agreement to hold a "pull-aside" meeting between their leaders on the sidelines of the G-7 session in the seaside resort of Carbis Bay in Cornwall, the official said. The three-day gathering ended Sunday. "From the beginning, our side, with an open mind, expected Japan to respond," the official said on condition of anonymity. "We think it is regrettable that the Japanese side did not respond to the pull-aside plan, which the two sides had agreed on at a working level, due to the annual drills to safeguard the East Sea territory," he added. The official was referring to the defense maneuvers that South Korea conducts twice a year to strengthen the defense of Dokdo, to which Japan has persistently laid claim.

The Korea Herald (http://www.koreaherald.com)

Moon says S. Korea will push for COVID-19 vaccine supplies if North Korea agrees

South Korean President Moon Jae-in said Monday his country will, if Pyongyang agrees, push proactively for cooperation to provide COVID-19 vaccine supplies to North Korea. He pointed out South Korea's efforts to emerge as a "global vaccine production hub." "If that is the case, North Korea would be a partner for cooperation, of course," Moon said during joint press conference with his Austrian counterpart Alexander Van der Bellen following their summit talks here. "If it agrees on it, (we) will push proactively for cooperation on vaccine supplies for North Korea," he added, as he emphasized the importance of ensuring equitable vaccine access for all countries in order to overcome the COVID-19 crisis. Moon added that the United States is actively supportive of humanitarian cooperation with North Korea. The Austrian leader echoed Moon's view. He said every nation should make efforts together to end the pandemic.

Controversial launch of new educational governance body in sight

The official launch of a new educational governance body is in sight as demand grows for comprehensive reform of South Korea’s educational system. The National Assembly’s Education Committee approved a bill Thursday to install a new body tentatively called the National Education Commission. The bill is expected to be put to a vote at a plenary session within this month in hopes of the commission officially launching by the end of this year. Under the bill, the commission would comprise of 21 members and would report directly to the president. The president would recommend five of its nine members and the National Assembly would recommend nine. The president would appoint the head of the commission. Its members would serve three-year terms that could be extended once. One of President Moon Jae-in’s campaign promises was to establish a politically independent body to oversee the country’s educational policy.

Moon becomes first Korean president to visit Austria

President Moon Jae-in and his Austrian counterpart, Alexander Van der Bellen, held a summit Monday to bolster ties as the 130th anniversary of bilateral relationship approaches next year. Moon, coming from the UK after attending the G-7 meeting over the weekend, arrived in Vienna on Sunday. He is the first Korean president to make a state visit to Austria since the two nations established ties in 1892. With the latest visit, the two nations agreed to elevate the relationship to a more upgraded "strategic partnership," according to Cheong Wa Dae. The two leaders discussed extending partnerships in diverse areas as they exchanged views on issues of mutual concern ranging from climate change to the peace process on the Korean Peninsula. They agreed to bolster economic exchanges, touting the strong growth in the trade volume between the two nations over the past years. Despite the COVID-19 pandemic, the trade volume increased to $2.69 billion last year, up 11 percent compared with a year prior.

The Korea Times (http://www.koreatimes.co.kr)

Main opposition enjoys high support rate after electing young leader

The election of a young new leader is giving a boost to the main opposition People Power Party (PPP), with it seeing the highest gains in support in years and positive signs of a potential "conservative big tent" to counter the liberal ruling bloc ahead of next March's presidential election. Public attention to the rise of the 36-year-old Lee Jun-seok and his victory at the party convention is pushing the party's support rate. According to a survey of 2,512 adults conducted last week by local pollster Realmeter, and released Monday, 39.1 percent of respondents said they supported the PPP, while 29.2 percent said were behind the ruling Democratic Party of Korea (DPK) Political watchers believe the PPP has succeeded in responding to the growing public calls for change and innovation in politics by electing the youngest-ever party chairman, and it is now being recognized by the public as an alternative political force that could hold the supermajority DPK in check. Even before Lee's rise, the DPK was already losing public support due to corruption and land speculation scandals involving high-profile government officials and party members.

Books about Yoon Seok-youl: like parable of the blind and the elephant

Former Prosecutor-General Yoon Seok-youl, 61, has yet to declare a bid to run in the 2022 presidential election slated for March 22. Despite rampant rumors about his candidacy, he has played a waiting game about his presidential run. His every action, word and whereabouts spark speculation about his motives, maybe because he is currently one of the most popular ― albeit unofficial ― presidential contenders. A Gallup poll conducted on 1,000 people in May found Yoon and Gyeonggi Governor Lee Jae-myung in a tight two-way race. When asked who they think should become Korea's next president, 25 percent said Lee, while 22 percent opted for Yoon. The poll had a plus or minus 3.1 percentage points margin of error. Some other surveys showed that Yoon was ahead of Lee. The former prosecutor's strong showing in public opinion surveys seems to have spurred a publication boom around him. According to the Kyobo Books website, eight books about him have been, or will be, released this year alone. Since April, seven of them have been on sale in local bookstores, while the remaining one will be released Thursday.

Korea to conduct Dokdo defense drill this week

South Korea plans to stage an annual military exercise on and around its easternmost islets of Dokdo this week to beef up the country's defense capabilities, sources said Monday. The drill, named the East Sea Territory Protection Exercise, is scheduled to take place Tuesday, and will involve the Navy, the Air Force and the Coast Guard, according to the government and military sources. The Marine Corps will not join this year's program, as no landing drill will take place, the sources said, adding that it will be staged in a way that minimizes in-person contact given the COVID-19 situation. "As a regular joint exercise, the upcoming drill is aimed at responding to threats to our territory, people and properties," a military official said. South Korea launched the Dokdo drills in 1986. Since 2003, it has typically conducted the training twice a year, usually in June and December, to better fend off possible foreign infiltrations in the area.

Chosun Ilbo (http://english.chosun.com)
Moon Meets Suga Briefly at G7 Summit
President Moon Jae-in exchanged a few words in passing with Japanese Prime Minister Yoshihide Suga on the sidelines of the G7 summit in the U.K. Earlier, a Cheong Wa Dae spokesman left open the possibility of a "pull-aside" between Moon and Suga during the summit, which Moon was attending as an observer. The Foreign Ministry said Monday the two sides tentatively agreed to sit down for talks, but Japan canceled the plan the last minute citing Seoul's biannual drills in waters off Korea's easternmost islets of Dokdo, which Japan lays claim to. Washington is pushing for a trilateral summit in an attempt to reconcile the fractious neighbors and line them up behind its new cold war against China, but the focus of the G7, which Korea is not part of, was mostly on transatlantic issues. Moon exchanged greetings with Suga at the Carbis Bay Hotel in Cornwall last Saturday, according to Cheong Wa Dae. It was the first time they have met face to face since Suga took office last September.

Kim Jong-un's Weight Loss Prompts Health Speculation

North Korean leader Kim Jong-un appears to have lost weight in the first public photos published by state media last week after about a month's absence. The Seoul-based NK News website on Tuesday said Kim is visibly thinner in the photos compared to late April, when he presided over a Workers Party meeting. He seems to have been tightened the strap on his Swiss IWC watch on his left wrist since March, and NK News said his drastic weight loss could signify health problems. "On the surface, noticeable weight loss may not mean much, but it can provide clues to other information that intelligence collectors look for," it quoted Mike Brodka, a U.S. intelligence officer in South Korea, as saying. Speculation has it that Kim suffers from diabetes, high blood pressure and heart problems due to his obesity. His grandfather Kim Il-sung and his father Kim Jong-il both died of a stroke. The National Intelligence Service here told lawmakers in November last year that Kim's weight had increased by 6 to 7 kg each year since he took power.

China Slams G7 Statement Criticizing Human Rights Record

China has denounced the communique issued Sunday at the end of the G7 summit that criticized Beijing over its human rights record. The G7 statement called on China to "respect human rights and fundamental freedoms, especially in relation to Xinjiang, and those rights, freedoms and high degree of autonomy for Hong Kong enshrined in the Sino-British Joint Declaration," referring to the 1997 agreement that switched control of the financial hub from Britain to China. Beijing is accused of committing serious human rights abuses against the minority Muslim Uyghur in Xinjiang, including the detention of more than one million Uyghurs into detention camps, widespread government surveillance and forced birth control. The Chinese embassy in London issued a statement accusing the G7 leaders of interfering in its internal affairs, and according to Reuters, vowed to "resolutely fight back against all kinds of injustices and infringements imposed on China."

HanKyoReh Shinmun (http://english.hani.co.kr)
Moon pledges to stand against racial extremism, calls for cooperation on free trade at G7

South Korean President Moon Jae-in stressed the importance of responding forcefully to racism and extremism and cooperating internationally to expand free trade and economic openness while attending the G7 summit in the British county of Cornwall. On Sunday, Moon attended the summit’s second expanded meeting on “open societies and economies,” where he joined in the adoption of an “Open Societies Statement.” Resolving to protect and promote the open society values shared by the participating countries, including human rights, democracy and the rule of law, the G7 leaders issued a statement that proposed cooperating to expand those values and allowing the benefits of open societies to be enjoyed in more inclusive ways. “We [. . . ] face threats to our social fabric from persistent inequalities and discrimination,” the statement said. “In the midst of these threats we will work together to create an open and inclusive rules-based international order for the future that promotes universal human rights and equal opportunities for all,” it continued.

S. Korea to spend $200 million to provide developing countries with COVID-19 vaccines

While attending the G7 summit, South Korean President Moon Jae-in promised to give US$100 million this year to help provide COVID-19 vaccines to developing countries and to provide US$100 million more next year, either in cash or kind. The Blue House said that Moon made the pledge in a session on public health on Saturday, the first session of the G7 summit attended by observer states. The summit was held in Cornwall, in the UK. Moon pledged to donate funds for vaccinating developing countries to the COVAX Advanced Market Commitment (AMC) while stressing that the most critical short-term solution is quickly expanding supply to guarantee fair access to COVID-19 vaccines. Moon went on to say that South Korea could take advantage of its substantial biopharmaceutical production capacity to serve as a global vaccine hub and expand the vaccine supply, which currently falls short of global demand. He also explained that Seoul could explore vaccine partnerships with other countries, and not just the US.

S. Korea to exempt travelers vaccinated overseas from mandatory quarantine

South Korea will waive mandatory quarantine for some travelers who have been fully vaccinated overseas starting next month on an application basis, depending on the purpose of their visit. The exemption applies to those traveling to South Korea to visit immediate family members or for the purposes of business, academic work or the public interest, South Korean Prime Minister Kim Boo-kyum said on Sunday. Kim added that the current level of social distancing will remain in place for another three weeks. “The new measure is expected to help South Koreans living abroad, international students and entrepreneurs who haven’t been able to return home for a while,” Kim said, while presiding over a meeting of the Central Disaster and Safety Countermeasures Headquarters at the Central Government Complex in Seoul on the same day.

The Dong-A Ilbo (http://english.donga.com/)

Special prosecutors for Sewol disaster raid Supreme Prosecutors Office

Special Prosecutor Lee Hyun-joo’s special prosecution team tasked with investigating allegations that documents about the Sewol ferry disaster were forged, raided the Supreme Prosecutors Office (SPO) on Monday to seize the server that stores closed-circuit television (CCTV) footage of the Sewol ferry sinking. Special Prosecutor Lee, who is entering the second half of his term, sent investigators to the SPO on Monday and seized evidence, including CCTV footages for inside and outside the ferry collected in 2014 by the then-investigation team, such as Gwangju District Prosecutors’ Office and the Seoul Central District Prosecutors’ Office. In a press statement issued on Monday, the special prosecution team said they have received over 800 copies of records and 40 terabytes (TB) of electronic information from the Special Commission on Social Disaster Investigation, and currently analyzing about 30 boxes of documents and 100 TB of video footages seized from the Navy and Korea Coast Guard.

Moon, Suga briefly meet for first time on sidelines of G7 summit

Visiting Cornwall in the United Kingdom to attend the G7 summit, South Korean President Moon Jae-in briefly exchanged greetings with Japanese Prime Minister Yoshihide Suga on Saturday to conclude their first meeting. Originally, the South Korean presidential office expected informal “pull-aside meeting” style talks, through which Moon and Suga would get together in a natural fashion at the site of the G7 summit, but it has not happened. “President Moon Jae-in encountered Prime Minister Suga and exchanged friendly greetings at Carbis Bay Hotel prior to the opening of the health session in the expanded G7 summit,” presidential spokeswoman Park Kyung-mi said in a written press briefing. The Japanese government announced to the Japanese media, “President Moon approached Prime Minister Suga and initiated a conversation and they exchanged greetings very briefly.

Heads of G7 agree to invest on B3W infrastructure
The U.S. drew an agreement among G7 countries for a large-scale global infrastructure investment project to hold China’s “One Belt, One Road project” in check. It is an attempt to unify allies in the Western world to stand against China’s expanding “economic territory”’ through a large-scale external economic cooperation scheme. According to the White House, heads of G7 countries including U.S. President Joe Biden agreed to invest on the global infrastructure at the G7 summit held in Cornwall, the U.K. on Saturday (local time). The project is called “B3W (Build Back Better World),” which was named after Biden’s presidential campaign “Build Back Better.” It is garnering attention as it is the first alternative of advanced countries against China’s project. President Moon Jae-in who participated in the summit as an invited country met Japanese Prime Minister Yoshihide Suga for the first time at the Carbis Bay hotel in Cornwall before the first session of the summit under the theme of responding to COVID-19, but only exchanged greetings.

TheKyungHyangShinmun (http://english.khan.co.kr/)
“I’m Listening to Both the Expectations and Concerns of the People” Yoon Seok-youl Hints at a Presidential Bid

On June 9, Yoon Seok-youl (pictured), former prosecutor general and a strong opposition candidate for the presidential election said, “I am listening to and am well aware of the expectations and concerns of the people.” Yoon appeared to be hinting at the launch of a presidential bid two days before the People Power Party convention. However, he avoided mentioning any details about joining the People Power Party. This day, Yoon appeared at the opening ceremony of the Woodang Lee Hoe-yeong Memorial at Namsan Yejang Park in Seoul and responded to questions from the press by saying, “I ask you to wait and see.” This was the first time that Yoon spoke about his political activities at a public occasion. When asked about whether he would join the People Power Party, Yoon replied that it was not yet the time to say anything about the issue and said, “You will gradually know as you observe the road I take.” Yoon appeared at a public event for the first time in two months since he showed up for early voting in the April 7 by-elections on April 2.

The Wrong Vaccine or Too Little or Too Much of the Right Vaccine: Vaccination “Accidents” Continue

A string of errors occurred in the process of administering COVID-19 vaccines, including the administration of half or five times the designated dose. The nation is accelerating the vaccine rollout, having administered at least one vaccine shot to over 11.8 million people as of June 13, but experts warn that such errors in the vaccination process could undermine the hard-earned credibility that disease control authorities worked to establish. Authorities are working to come up with measures. The COVID-19 vaccination response team announced that as of midnight this day 11,802,287 people have received at least one vaccine shot. This accounts to 23.0% of the nation’s population. Vaccination is picking up speed, but mistakes are popping up everywhere. According to the response team, one clinic in Buan-gun, Jeollabuk-do administered 2.5-3ml, 5-6 times more than the standard dose (0.5ml) of the Janssen vaccine to five men in their thirties. The clinic administered one vial of the vaccine, which is for five people, on one person.

Personal Information of Parents Who Fail to Pay Child Support Will Be Disclosed Online Starting July 13

From July 13, the actual names of parents who do not pay child support will be released on the Internet. These parents can be sentenced to criminal punishment of up to a year in prison. The Ministry of Gender Equality and Family announced measures for better payment of child support for underage children raised by single parents including these details at the 11th Ministerial Meeting on Education, Society and Culture at the government office in Seoul on June 9. The latest measures were based on the Act on Enforcing and Supporting Child Support Payment. According to the new measures, if a person with the obligation to pay child support fails to make the payment, the person receiving the payment can request a court order to arrest the insolvent person. If that person does not pay child support within a year after the court order, he or she can be sentenced to criminal punishment of up to a year in prison or a fine of 10 million won. If that person refuses to pay child support despite the court order, his or her personal information can be disclosed on the Ministry of Gender Equality and Family website after a review by the child support payment review board.

Maeil Business News Korea (http://www.pulsenews.co.kr/)

Daewoo Shipbuilding nets $1 billion offshore plant order for Petrobras

Daewoo Shipbuilding & Marine Engineering Co. (DSME) has netted a $1 billion order from Brazilian oil company Petrobas for offshore plant construction, the Korean company announced on Monday. According to a disclosure on Monday, DSME has procured a 1.1 trillion won ($1 billion) order from Brazil’s state-owned Petroleo Brasileiro S.A. (Petrobras). The deal is part of a total $2.3 billion order to build a floating production, storage and offloading (FPSO) facility, which has been secured by a joint venture with Italy`s oilfield services company Saipem SpA, DSME said. The FPSO will be able to produce 180,000 barrels of oil and 7.2 million cubic meters of natural gas a day with a storage capacity of 2 million barrels of oil. The facility is scheduled to be delivered by December 2025.

Vaccine program gains speed in Korea, with near a quarter getting first jab

A total of 11.8 million South Korean people have received their first shots of Covid-19 vaccines, accounting for 23 percent of the country’s population, since a nationwide vaccination program launched on Feb. 26. Given the number of vaccine reservations and very low no-show rates, the total figure is estimated to reach 14 million this week, earlier than the government’s target. South Korea aims to inoculate 14 million people by the end of this month and 36 million by September to achieve herd immunity in November.

Hyundai Engineering bags $90 mn gas processing plant deal in Russia

Hyundai Engineering Co. won a 100 billion won ($90 million) contract to construct gas processing plant in Russia, world’s largest natural gas producer. The unit of Hyundai Motor Group enters an engineering, procurement, and construction (EPC) contract with Russia’s private oil and gas developer Novi Potok to build a gas processing plant in Buzuluk, a town in Orenburg Region, located about 1,500 kilometers (932 miles) southeast of Moscow. The company will break ground for the plant this month for completion in 22 months. It is the first EPC contract that the Korean constructor won in Russia. Hyundai Engineering has been making strides in Russia. The company carried out a front-end engineering design (FEED) project for a methanol plant in 2019 and earlier this month signed an EPC pre-agreement.

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