GlobalEconomic GlobalEdition

February 8, 2023

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Inauguration of 'India@75' Celebrations

2021.03.18 12:13

Indian Cultural Centre and Embassy of India, Seoul is organising the curtain raiser event of the ‘Festival of Independence’ on 19th March (Friday) at 1500 hrs KST marking the beginning of the 75 weeks celebrations on the occasion of 75th Independence day of India which will be completed on 15th August 2022. India attained independence after a lengthy period of British colonial rule on August 15, 1947. It is a happy coincidence that India shares its Independence Day, August 15, with the people of the Republic of Korea. To commemorate this occasion, Government of India has announced to mark
City releases regulation to boost foreign investment

2021.03.17 09:53

SHENZHEN is mulling to build a mechanism for urgently needed talent, according to a draft foreign investment regulation recently released by the Municipal Justice Bureau for public opinion. The regulation also said that Shenzhen will streamline procedures for foreign talents to live and work in Shenzhen and issue measures like faster entry in the country to support foreign-funded enterprises. These will make the city more attractive to these talents. To boost foreign investment, Shenzhen will update plans based on its own situations and let foreign companies enjoy the same support policies des
SZ jumps 25 spots in global cities ranking

2021.03.17 09:53

SHENZHEN made a significant jump of 25 places to secure its No. 19 position at the recently released Schroders Global Cities Index ranking. The index looks to identify and rank the 30 best and brightest global cities. The index uses a number of factors to identify the most economically vibrant cities from population age, median household income, university ranking, retail sales, GDP and transportation infrastructure. Among the 30 cities on the list, seven are Chinese cities, namely Hong Kong (6), Shenzhen (19), Hangzhou (23), Beijing (25), Nanjing (27), Shanghai (28) and Chengdu (30). In the r
Keep openness in a protective world

2021.03.16 12:06

DURING the “two sessions” earlier this month, China’s Commerce Minister Wang Wentao said the country would leverage comprehensive and high-level openness to the outside world to promote the dual-circulation development pattern.It is surely important for China to keep economic openness to boost exports and imports, as well as to attract foreign investment and invest overseas. Nevertheless, it is even more important for China to keep spiritual openness in a gradually protective and isolated world.In a proposal to the annual session of the top political advisory body this year, Xu Jin, a membe
SZ airport satellite hall under construction

2021.03.16 12:05

CONSTRUCTION on the main structure of the satellite hall of Shenzhen Bao’an International Airport was completed recently. The satellite hall will be put into use this year.From a distance, the satellite hall looks like the letter “X.” The X-shaped satellite hall project covers 235,000 square meters and will have 42 boarding gates. The five-story structure includes an underground transit system and domestic arrival and departure floors.The satellite hall is located about 1,000 meters from the northern tip of the airport’s T3. It will take about three minutes by the underground fast transit
Container throughput booming

2021.03.16 12:05

SHENZHEN Port had seen a significant year-on-year increase of container throughput to 4.80 million TEUs, or by 37.41 percent, in the first two months this year, statistics from Shenzhen Transport Bureau showed.The cargo turnover at Shenzhen Port reached 43.64 million tons in January and February, up by 35.2 percent year on year.“The growth in container throughput and cargo turnover can be described as ‘booming,’” said Wang Guowen, director with Logistics and Supply Chain Research Institute of China (Shenzhen) Development Institute. He attributed it to effective control of COVID-19 pandemic
LG Electronics is stepping up to help children in need in Kenya

2021.03.16 11:30

LG Electronics Inc announced on Mar. 14 that it is carrying out social contribution activities to support the educational environments of children in Kenya, Africa.The company is working with the nonprofit organization Habitat for Humanity as well as the Kenyan government to improve the educational environments at a school for the hearing-impaired and an elementary school in Machakos county in Kenya.Donations made through the Come Home Challenge campaign that LG Electronics ran last year were used for the initiatives in Kenya. Customers all over the world were invited to participate in the Com
Korean government to stop exporting military supplies to Myanmar

2021.03.15 10:38

Korean government decided to stop exporting military supplies such as tear gas to Myanmar, where bloodshed was caused by the military coup, and to review the Official Development Assistance (ODA) project. Korean government announced Friday that it has decided to take such measure, stating, "Despite repeated demands from the international community including Korea, a large number of victims incurred due to the Myanmar military and police authorities’ actions." The government has decided to stop new exchanges and cooperation with Myanmar in the fields of defense and security. The Ministry of Na
FAQs on Farm Bills

2021.03.11 15:12

Q1.Why are the farmers protesting in India? The farmers’ protests relate to two new laws passed by the Parliament of India in September 2020: (i) the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act 2020 or the FPTC Act, and (ii) the Agreement on Price Assurance and Farm Services Act 2020 or the APAFS Act; and the amendment carried out in the Essential Commodities Act 1955 (ECA). Q2. What do the new laws entail? i. The first law, the FPTC Act, offers farmers the choice to sell their produce within the Government regulated physical markets existing prior to the passage o

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