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Industries upbeat about return of Chinese tourists

The Chinese government has decided to allow group tours to South Korea after a six-year hiatus instigated by diplomatic bickering between Seoul and Beijing, as well as the COVID-19 pandemic. China's Ministry of Culture and Tourism on Thursday said it would lift restrictions on its nationals to travel in groups to 78 countries around the world, including Korea, the United States and Japan. The ban on Chinese grou...

Beijing , China , Brazil , Indonesia , Jeju , Cheju-do , South-korea , Thailand , Iran , Nepal , Seoul , Soult-ukpyolsi

Busan's Expo bid to pursue humanity over profit: SK chief

South Korea’s eagerness to host the World Expo 2030 in Busan goes far beyond the pursuit of a multi-trillion-won injection into the economy, and is instead seeking to become an important international platform that will contribute to humanity, according to SK Group Chairman Chey Tae-won on Wednesday. “People often talk about the economic impact ... of hosting the expo. … More importantly, I think K...

Rome , Lazio , Italy , Paris , France-general- , France , Riyadh , Ar-riya- , Saudi-arabia , China , Li-chang , Zhejiang

[KH explains] Why is Korea going for a second legal bout with Elliott?

A yearslong legal dispute between the South Korean government and US hedge fund Elliott Investment Management has entered another phase, as the government decided to file a suit to reverse an international tribunal's order to pay some $108 million in damages to the hedge fund. At the center of the protracted legal battle is the controversial 2015 merger of two Samsung Group affiliates -- Samsung C&T and Chei...

South-korea , Cheil , Kangwon-do , United-kingdom , Korea , British , South-korean , Han-dong-hoon , Lee-jae-yong , Kim-jong-bo , Roh-jong-hwa ,

BOK unlikely to cut rates this year: Gov. Rhee

The Bank of Korea is unlikely to cut interest rates this year because of uncertainty in the inflation outlook and massive household debt, central bank Gov. Rhee Chang-yong said Friday. "It is difficult to say that we will lower the interest rates for the time being, so don't expect too much that there will be a drop in the interest rates," he said during the 45th Jeju Forum hosted by the Korea Chamber ...

South-korea , Jeju , Cheju-do , Korea , Rhee-chang-yong , Jeju-haevichi-hotel , Jeju-forum , Korea-chamber , Park-han-na , The-korea-herald , Orean-news

Private-public teamwork is new survival tactic for businesses: Chey

SEOGWIPO, Jeju Island -- Gone are the days when it was sufficient for companies to have the upper hand in the global market by sharpening their competitive edge on their own. Governments and corporations teaming up together has become a global phenomenon to deal with uncertainties induced by supply chain disruptions and economic rivalry between the US and China, SK Group Chairman Chey Tae-won said Wednesday. Fragment...

China , Jeju , Cheju-do , South-korea , Jeju-island , Chinese , Korea , European-union , Sk-group , Jeju-haevichi-hotel , Korea-chamber

M&A activity plummets 40% in H1

The total transaction volume of cross-border mergersand acquisitions involving Korean companies decreased by more than 40 percent in the first half of this year compared to the previous year, according to a major business lobby group, which called for the government support for deals with overseas tech companies. According to a report released by the Sustainable Growth Initiative, a think tank under the Korea Chamber...

South-korea , Korea , Korea-chamber , Silicon-valley-bank , Sgi , Research-fellow-kim-kyung-hoon , Sustainable-growth-initiative , Fellow-kim , Business-vitality-act , Park-han-na , The-korea-herald

Chaebol chiefs meet with French president

Korean business tycoons met with French President Emmanuel Macron to discuss their cooperation in strategic industry projects including energy and next-generation transportation, a business lobby group Korea Chamber of Commerce and Industry said Thursday. At the meeting held at the Elysee Palace in Paris with heads of Korea's top eight conglomerates on Wednesday, President Macron presented the economic and socia...

Paris , France-general- , France , Italy , Hanjin , Ch-ungch-ong-namdo , South-korea , Saudi-arabia , Rome , Lazio , Busan , Pusan-gwangyoksi

Elliott warns Korea to pursue no further legal action

An international court’s decision sentencing South Korea to pay a US hedge fund about $108.5 million in losses caused by the government’s meddling in the 2015 merger of two Samsung units may affect other pending rulings on investor-state dispute cases involving the country. Elliott Investment Management on Wednesday urged the Korean government to pay the amount to the investor as ordered by the Permanent ...

South-korea , Cheil , Kangwon-do , Iran , Switzerland , Iranian , Korea , Swiss , Lee-jae-yong , Daewoo-electronics , International-center

BOK heeds possibility of US rate hikes later this year

The Bank of Korea said it would remain vigilant following the US Federal Reserve’s decision to pause its interest rate hike cycle for the first time in 15 months, noting the possibility of a further increase later this year. The Federal Open Market Committee unanimously kept its key borrowing target range at 5 percent to 5.25 percent, after 10 consecutive rate increases since March last year. The rate freeze wa...

Canada , Daishin , Kangwon-do , South-korea , Australia , Kong-dong-rak , Jerome-powell , Federal-reserve , Market-committee , Federal-open-market-committee , Lee-seung-heon , Federal-reserve-chair-jerome-powell

[From the scene] Is investment drought near end for Korean biotech?

Over 500 Korean companies and institutions gathered in Boston to take part in the BIO International Convention 2023 last week to discover new partnerships and to negotiate potential licensing deals. The number of participating Korean biotech and pharmaceutical firms and agencies doubled this year from a year ago, the largest after those from the United States, raising anticipation for the industry which experienced i...

South-korea , Boston , Massachusetts , United-states , Korea , Samsung-biologics , Legochem-biosciences , Lotte-biologics , Bio-design-lab , Korea-biotechnology-industry-organization , International-convention , Hwang-ju-rie