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Tue, January 31, 2023 | 22:28
Conglomerates enter emergency management, reduce investments
Major companies are taking a conservative approach as the economy is taking a rapid downturn, by shrinking investments and production to cope with the surging inflation, high exchange rates and interest rates, according to company officials, Sunday. Major domestic companies have entered emergency management amid the worsening economic situation. On Sept. 29, LG held an offlin...
KITA appoints Jeong Marn-ki as executive vice chairman
The Korea International Trade Association has appointed Jeong Marn-ki, chairman of the Korea Automobile Industry Association, as its vice chairman. “He is an expert who has deep understanding of the industry and is well-versed in trade policy,” KITA Chairman Koo Ja-yeol said.
Strengthen economic cooperation
Korea Enterprises Federation (KEF) Chairman Sohn Kyung-shik, right, speaks to Chinese Ambassador to Korea Xing Haiming during a meeting hosted by the KEF at the Westin Chosun Hotel in Seoul, Thursday. Since 2020, the KEF has invited the Chinese ambassador annually to discuss ways to strengthen economic cooperation between Korea and China. / Courtesy of the KEF
RDA helps boost global food security by sharing agricultural knowhow
The Rural Development Administration (RDA) hosted the “Korean Culture and Information Service (KOCIS) Policy Forum with the Administrator of RDA” at the Korea Press Center in Seoul, Wednesday, highlighting the RDA's official development assistance (ODA) in agricultural technology, future direction and its accomplishments.
Government urged to improve industrial regulations in line with international standards
The European Chamber of Commerce in Korea (ECCK) is calling on the Korean government to consider revising regulations on electric vehicles (EVs) and other industrial sectors to provide more procedural clarity and flexibility in line with international standards. The ECCK made the recommendations in its latest annual white paper, which contains a total of 96 comments on regula...
Volvo launches S60, V60 in Korea
Volvo Car Korea unveiled the new S60 and V60 Cross-Country for the first time in Korea at the Westin Josun Seoul hotel, Tuesday. The S60 is a flagship model designed based on the Scalable Product Architecture (SPA) platform, and is a key vehicle targeting the mid-size premium segment along with the global best-selling XC60, according to the company.
Mercedes-Benz aims to create safe environment for children
Mercedes-Benz has been working since 2014 to create a safe transportation environment for children. Its Social Contribution Committee established MobileKids, a traffic safety education program for children, which was developed in 2001 by the German headquarters and has been participated in by more than 2 million children from 13 countries around the world.
Lamborghini launches Urus Performante in Korea
Lamborghini officially launched its super SUV Urus Performante in Korea aiming to raise the bar to new heights for super SUVs in the country. The launch of the Urus Performante in Korea comes just over a month after its world premiere on Aug. 19. The launch ceremony was held at the Some Gavit ― a cultural complex and architectural landmark on the Han River ― in Seoul, Friday.
Korea attracts $1.15 bil. investment from US
A total of seven U.S. companies in the semiconductor and secondary battery industries have pledged to invest a combined $1.15 billion in Korea to build plants, R&D centers and other facilities, the Ministry of Industry and Trade and Energy said, Friday.
Survival strategies key amid US-China conflict: SK chairman
Korean companies should make every effort to find ways to survive in the increasingly uncertain global business environment as the U.S.-China rivalry intensifies, according to SK Group Chairman Chey Tae-won. Chey also told reporters in Washington D.C., Tuesday (local time), that he maintains a cautious stance on the Inflation Reduction Act (IRA) and the Chips Act recently pas...