GlobalEconomic GlobalEdition

April 24, 2021

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S. Korean President Moon to visit Washington D.C. next month and meet with U.S. President Biden

2021.04.20 09:49

South Korean President Moon Jae-in will be visiting Washington D.C. for a South Korea-U.S. summit at the end of next month at the invitation of U.S. President Joe Biden, said Cheongwadae, the presidential Blue House of South Korea, on Apr. 16. South Korea’s presidential spokesman Kang Min-seok informed of the impending meeting through a written briefing and relayed: “The two leaders plan to discuss in-depth about matters such as the continuous development of a solid South Korea-U.S. alliance, and ways for close cooperation toward achieving the complete denuclearization and progress towards p
Kim Boo-kyum as a Korean Prime Minister. Reorganization of 5 ministries

2021.04.19 09:30

President Moon Jae-in appointed Kim Boo-kyum, former Minister of Public Administration and Security, as the successor to Prime Minister Chung Sye-kyun. President Moon also reorganized five ministries, including the Ministry of Land, Infrastructure and Transport (MOLIT), the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of Employment and Labor, and the Ministry of Oceans and Fisheries.Yoo Young-min, head of the Presidential Secretary Department, announced the results of the appointment at the briefing that afternoon.Candidate Kim Boo-kyum is expected to b
Council compiles excerpts to lure international organizations

2021.04.16 09:56

CHINA Council for the Promotion of International Trade Shenzhen Municipal Committee (CCPIT Shenzhen) recently released “Excerpts of Key Economic and Trade International Organizations” it compiled, in a bid to encourage more international organizations and institutions to settle in Shenzhen. The book selected 193 of the world’s major economic and trade international organizations (ETIOs) highly pertaining to Shenzhen. It aims to provide governmental departments, business associations and enterprises with convenient accesses to the basic information of these institutions and their operations
Coal-fired power plant development to remain growth driver in India: Fitch

2021.04.14 09:31

Coal-fired power plants will be the primary driver of infrastructure investment in India's power sector over the next decade, Fitch Solutions said on Tuesday.The country hosts 40 coal-fired power plant projects currently under construction involving a combined investment of 40.2 billion dollars and accounting for 61 GW of capacity. Additionally, the country is home to 73 coal-fired power plant projects currently in planning involving over 80 billion dollars in investment and adding up to 124 GW of capacity.Coal-fired power development in India will also benefit from a supportive policy environ
Jeju Olle selected among “World's Top 10 Coastal Walking Tours”

2021.04.12 10:28

Jeju Olle was selected as one of the world's top 10 coastal trails (walking tours). Jeju Olle, a corporate judicial corporation, announced on Apr.9 that "Jeju Olle was selected as one of the World's Top 10 Coastal Walking Tours selected by Active Traveler, a UK outdoor magazine." Jeju Olle is the only course in Asia among the named top 10 courses. Active traveler said, "Jeju is called a treasure island in Korea," and introduced Jeju Olle as being a “jewel of the crown”. They explained that it is a place where you can experience a whole different walking tour by counting 368 oreums one by one
Presidents Moon and Biden. Possibility of First Korea-US Summit in April

2021.04.05 10:35

It is known that President Moon Jae-in and U.S. President Joe Biden will be actively considering a plan to hold the first summit before the G7 (7 major countries) summit in June.Several senior ruling party members spoke to Yonhap News Agency on the phone on Apr.2, "We know that the ROK-US authorities are closely discussing plans to hold the first ROK-US summit before the G7 summit."This is different from the initial observation that the two leaders will meet for the first time at the G7 Summit held in England on June 11-13.If the summit is concluded, the possibility of President Moon’s visit
The end of Shin Chun-ho’s era and beginning of vice chairman Shin Dong-won’s era for Nongshim

2021.03.26 10:10

Chairman Shin Chun-ho (89), who has led Nongshim, a leading domestic food company, for 56 years has stepped down from the front line of management. Vice Chairman Shin Dong-won (63) will take over as a Chairman opening a new horizon for Nongshim.Chairman of Nongshim Group Shin Chun-ho (89), whose term expired on Mar.16, was replaced from the position of registered director at this shareholders meeting, so he withdrew from the front line of management 56 years after the founding the company in 1965, passing the 2nd generation of management to his eldest son Shin Dong-won.Nongshim held the 57th r
Yoon Seok-youl earns highest support rate among South Korean presidential hopefuls, according to a recent poll

2021.03.24 10:01

A public poll recently conducted in South Korea that asked about the suitability of presidential-hopeful candidates for the presidential role has shown that former Prosecutor General Yoon Seok-youl has the highest level of support, with a nearly 40% support rate. The poll, which was ran by the Korea Society Opinion Institute (KSOI) upon the request of broadcaster TBS, asked 1,007 people aged 18 years or older across South Korea between Mar. 19 to Mar. 20 on the suitability of candidates as the next president of the country. Yoon, the former prosecutor general of South Korea, earned the highest
Samsung C&T begins its fashion industry shareholders meeting with a keyword “stability”

2021.03.22 15:00

This year, the fashion industry's regular shareholders meeting season has begun. The main issue is the reappointment of the heads, and the tendency to seek stability due to the prolonged COVID-19 outbreak.Samsung C&T held the 57th regular shareholders meeting at the Global Engineering Center in Gangdong-gu, Seoul on Mar.19. Agendas such as approval of financial statements, appointment of directors, and approval of remuneration limits for directors were resolved according to the original draft. What is noteworthy in the fashion section is that Jun-seo Lee, head of the fashion division, has bee

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Doosan Infracore wins order for supplying 15,000 engines to a Chinese forklift manufacturer

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Doosan Infracore wins order for supplying 15,000 engines to a Chinese forklift manufacturer