GlobalEconomic GlobalEdition

February 8, 2023

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LH employees under suspicion of speculation on the new city planning site

2021.03.03 09:57

Suspicion was raised that executives and employees of Korea Land and Housing Corporation (LH) purchased land worth 10 billion won before the announcement of the Gwangmyeong and Siheung district construction plan, which were designated as the largest of the 3rd generation new cities. As long-term repercussions are expected, the blade of the investigative agency is also about to move.Lawyers for a Democratic Society (MINBYUN) and People's Solidarity for Participatory Democracy (PSPD) held a press conference at the PSPD office Tuesday to raise such suspicions and announced that they will file a r
“DRAM and NAND prices will significantly increase in the second quarter”

2021.03.02 10:48

The price for memory semiconductors pushing the “super cycle” (super boom), has entered a breathtaking period. However, as supply is still unable to keep up with demand, a sharp rise is expected to be recorded a from second quarter.According to DRAMeXchange, a semiconductor specialized market research company on Friday, the fixed transaction price for general purpose products for DRAM PCs (DDR4 8Gb 1Gx8 2133㎒) in February recorded $3.00, the same as the previous month (January). The fixed transaction price of the general-purpose NAND flash product (128Gb 16Gx8 MLC) was $4.20, unchanged for
Continued Myanmar coup d’etat presents growing woe for South Korean SMEs doing business in the country

2021.03.02 10:47

“We’ve lost 100 million won [approximately $90,000] this month alone.” With the ongoing crisis in Myanmar caused by a military coup d’etat that began in early February, the damage to small and mid-sized South Korean companies that run business in Myanmar is snowballing. As the local financial system has been paralyzed, normal payments are not being made, merchants say. Furthermore, both bringing in raw materials and sending out finished products have become difficult due to logistics systems working improperly. According to the Korea Trade-Investment Promotion Agency (KOTRA) and the Expor
“Dokdo is a Korean territory” confirmed in about 200 Japanese old maps

2021.02.24 09:01

Japan itself admitted the fact that Dokdo is a Korean territory in about 200 old Japanese maps.The Dokdo Foundation, a contributing organization in Gyeongbuk Province, announced on Feb.19 that this was the result of a survey of about 1,000 ancient maps owned by Dokdo-related institutions such as the Northeast Asian History Foundation, the National Geographic Information Institute Map Museum, the National Assembly Library, the National Maritime Museum, and the Dokdo Museum.Out of about 1000 copies, Dokdo island appears in about 400 of them.The Dokdo Foundation said that most of the maps marked
South Korea and Bahrain express firm will to work together on pandemic containment, defense, and solar energy

2021.02.17 10:05

South Korea’s National Assembly Speaker Park Byeong-seug met with Bahrain’s Prime Minister, Crown Prince Salman bin Hamad bin Isa Al Khalifa, in Bahrain on Feb. 15 where they agreed to strengthen cooperation between the two countries in various areas such as health, defense, and solar energy. The meeting was arranged at the suggestion of Prince Salman’s father, Bahrain’s King Hamad bin Isa al-Khalifa. “The two countries have done a great amount of collaboration in the areas of construction and energy, and I think there is also a lot of potential for more future collaboration in fields suc
Korea-US "promise of denuclearization and alliance promotion on the Korean Peninsula"

2021.02.15 16:03

Foreign Minister Chung Eui-yong made the first phone call after taking office with US secretary of state Tony Blinken on Friday. They exchanged opinions on ROK-US relations and issues of the Korean Peninsula and promised to promote the alliance. According to the Ministry of Foreign Affairs, they reaffirmed that the ROK-US alliance is the linchpin of peace, stability and prosperity in Northeast Asia, the Indo-Pacific region, and the world. In addition, it was decided to continue developing the ROK-US alliance in order to respond to global issues and enhance common values. For this purpose, the
SPIC MACAY’s CHAPTER IN REPUBLIC OF KOREA

2021.02.09 16:23

The Society for the Promotion of Indian Classical Music and Culture Amongst Youth (SPICMACAY) in association with Swami Vivekananda Cultural Centre, Embassy of India,launched its Korea Chapter on 07 February 2021. SPIC MACAY’s newly launchedChapter in Republic of Korea is one of its several global centres worldwide. The event was graced by H. E Sripriya Ranganathan, Ambassador of India to the Republic ofKorea along with the presence of Founder and Chairperson of SPIC MACAY Prof.Kiran Seth, Mr. Hwang ILyong, Director, Korean Culture Center. New Delhi andDr. Sonu Trivedi, Director of Swami Vive
South Korea has foreigners fancying their sauces too

2021.02.08 10:39

As interest in Hallyu, the spread of South Korean culture globally, seeped into Korean food, South Korea recorded an all-time high in sauce exports last year. South Korea’s exports of sauces amounted to $301.72 million last year which is an increase of 25.8% from the previous year’s amount, according to the Institute for International Trade under Korea International Trade Association (KITA) of South Korea. Sauce exports have continuously shown a growth rate of 8% to 11% every year since 2016, but had an even more outstanding performance last year as a result of increased cooking at home due
Korea and the US to hold defense cost-sharing negotiations for the first time after the establishment of Biden government

2021.02.08 10:36

ROK-US defense cost- sharing negotiations were held for the first time after the inauguration of US President Joe Biden. According to the Ministry of Foreign Affairs on Friday, signing of the 11th Korea-US Special Measures Agreement (SMA) was held on the same day in a form of a video conference. Jeong Eun-bo, South Korea's ambassador to the defense cost-sharing negotiations and US State Department envoy for defense cost-sharing negotiations Donna Welton (Senior Advisor for the Bureau of Political-Military Affairs Office of Security Negotiations and Agreements (PM/SNA) presided during the meeti

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