GlobalEconomic GlobalEdition

February 8, 2023

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SK authorities cite citizens’ cooperation for achieving ‘four consecutive days of less than 1,000 new daily COVID-19 cases since Jan. 5’

2021.01.12 08:29

Thenumber of new confirmed COVID-19 cases in South Korea fell below 1,000 onceagain on Jan. 8. “Since Jan. 5 recorded a total of 715 (714 in actuality) new confirmed cases, thenumber of new daily cases has stayed under 1,000 for the fourth consecutive day,”said Jeon Hae-cheol, the second deputy director of South Korea’s CentralDisaster and Safety Countermeasures Headquarters, before the organization beganits meeting. As he noted that COVID-19’s “rate of spread is flattening out thanks to thecooperation of citizens,” he still emphasized, “We cannot lose our alertness.” After the daily
Korea Water Resources Corporation won a large-scale water supply project order in Indonesia, a result of a 3-year “K-Water Export” policy.

2021.01.11 09:50

Korean Ministry of Environment and Korea Water Resources Corporation succeeded in winning an order for metropolitan area water supply project in Indonesia with a project cost of 200 billion KRW(approx. 165 million USD), which has been elaborated for three years. Launching of the Karian Bulk Water Supply Project was announced by the the Ministry of Environment and the Korea Water Resources Corporation on January 8, after Karian Project Consortium appointed Korea Water Resources Corporation as project operator after participating in international competitive bidding with local companies.The
KDB opens Yangon branch in Myanmar expanding business in Southeast Asia

2021.01.11 09:46

Korea Development Bank (KDB) announced on January 7 that they are opening a branch in Yangon, Myanmar expanding business in Southeast Asia in line with Korean Government’s New Southern Policy(NSP). Last April, KDB obtained preliminary approval from the Myanmar Government's financial department. “In light of COVID-19 pandemic and consequent movement restrictions of the Myanmar Government, we faced difficulties in preparation of the branch opening, but we implemented a social contribution plan such as providing quarantine supplies, and formed friendly public opinion,” said the repre
Korean shipbuilding industry, the world's No.1 for three consecutive years

2021.01.07 09:23

Due to the large-scale order rush in the second half of last year, Korean shipbuilding industry is expected to maintain the world's leading place in order volumes for three consecutive years.Clarkson Research, a shipbuilding market analysis company, announced on January 5 that as of December 28, last year, world-wide orders recorded a total of 17.92 million compensate gross tonnage (CGT). CGT is a unit measuring an added value of the ordered and received quantity of goods. When comparing bulk and LNG carriers, the larger CGT is applied to LNG carriers with high added value.Out of the total vol
Last year’s agricultural product export to hit record despite COVID-19 – 7.7% growth

2021.01.06 14:29

Last year, despite the outbreak of COVID-19, Korea recorded the highest export of agricultural products in the record history. According to the Ministry of Agriculture, Food and Rural Affairs’ statement on January 5, last year's agricultural product export was amounted to $7.57 billion USD with an increase of 7.7% compared to that of last year. Export of fresh agricultural products, mainly kimchi and ginseng, increased by 3.4% and totaled $1.43 billion USD. Kimchi, Korean traditional fermented cabbage sales went up 37.6% amounting 144.5 million USD.Export of grapes, such as Shine Muscat incre
Private investors of South Korea show much love for Tesla, fueling it to No. 1 spot in net purchasing of foreign stocks

2021.01.06 13:54

It has been analyzed that private investors of South Korea who invest directly in foreign stocks mainly invested in electric vehicle companies and growth stocks as the global stock market showed an upturn at the end of last year. According to Jan. 5 data from Korea Securities Depository’s information portal, SEIBro, the greatest amount of net foreign stock purchase was in Tesla Inc in the last quarter of 2020. Domestic investors of South Korea had net bought $991.52 million (1.74 trillion won) worth of Tesla shares in the fourth quarter of last year. After Tesla, South Korean private invest
Authorities: "Sequential COVID-19 vaccinations to start from the first quarter and be completed before November"

2021.01.05 14:04

Korean quarantine authorities announced that the vaccination against the novel coronavirus infection (COVID-19) will start in the first quarter of this year.First of all, the vaccine will be given from those with recommended indications,and the first vaccination stage will be completed before November, before influenza season (seasonal flu). Jung Eun-kyung, Commissioner of the Korea Disease Control and Prevention Agency(KDCA) (Dae-bon Bang), announced this information during the COVID-19 briefing at the Center for Disease Control and Prevention in Osong, Chungbuk Province in the afternoon of
Changing FTA environment of the 2021: Korea-UK FTA and RCEP in the second half of the year

2021.01.05 13:56

Bigchanges are expected with signing the Free Trade Agreement (FTA) betweenKorea and the UK that went into effect as of the 1st of thismonth, and the Regional Comprehensive Economic Partnership Agreement(RCEP) that is expected to take effect with FTA in thebackground in the second half of the year. Korea International Trade Association (KITA) presented "Korea's changing FTAenvironment of 2021" on the 4th of the month. According to thepresentation, despite last year's spread of COVID-19, Government has beenmaking efforts to extend Korea's FTA network by signing Korea-UK FTA that cameinto force
Samsung Electronics estimated to reach 2 million minority shareholders…private investors’ stake rises to 6.5% last year

2021.01.05 09:06

It is expected that Samsung Electronics will reach 2 million minority shareholders. According to information from the banking and finance industry on Jan. 3, private investors bought 2.97%of all shares of Samsung Electronics last year, which is equivalent to 177.17million shares. On the other hand, institutional investors sold 97.55 millionshares last year, which works out to 1.64% of total share count. As a result, private investors’ stake rose to 6.5% by end of last year while institutional investors’stake decreased to 7.1%. At the end of 2019, private investors held 3.6% stake in Sams

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