• East Asia

    S. Korean economy strong against global risks

    By Joel Lee South Korea’s economy will stay firm against global financial risk factors with strong fundamentals in foreign currency loan and liquidity position, the nation’s integrated financial regulator Financial Supervisory Service (FSS) projected Thursday. Korea’s foreign exchange reserves is the world’s 7th largest, with a 29-months record streak of…

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  • East Asia

    S. Korean economy up 0.5 pct in Q2: BOK

    By Joel Lee South Korea’s economy expanded a seasonally adjusted 0.5 percent in the second quarter (Q2) from the first (Q1), supported by manufacturing growth, revised data by the Bank of Korea (BOK) showed Thursday. The figure is slightly lower than the July estimate of 0.6 percent growth. Korea’s gross…

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  • East Asia

    S. Korean conglomerates boost R&D spending, cut facility

    By Joel Lee South Korea’s top conglomerates boosted spending on research and development (R&D) as a future growth strategy, while trimming down on capital investments in first half characterized by low consumer spending and exports. 167 listed non-financial firms belonging to the country’s 30 largest business groups poured 16.2 trillion…

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  • East Asia

    S. Korea imports more European oil after EU-Korea FTA

    By Joel Lee The amount of European crude oil shipments to South Korea has swelled over the last five years after the EU-Korea Free Trade Agreement (FTA), diversifying the channel of supplies to the country that survives on energy imports to cover its high industrial needs. European oil, near nil…

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  • East Asia

    S. Korea dominates Vietnam’s foreign investment in Q2

    By Joel Lee South Korea topped the FDI in Vietnam in first (Q1) and second (Q2) quarter of this year, with the number of relocating firms soaring in recent months, General Statistics Office of Vietnam (GSO) reports. Korea came on top at 31.23% with near $2.5 billion investment. Hong Kong…

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  • East Asia

    Samsung Heavy and Engineering to merge in succession move for new Lee heirs

      By Joel Lee South Korean conglomerate Samsung Heavy Industries announced its plan on Monday to absorb Samsung Engineering in a $2.5 billion merger and acquisition process to be completed by Dec. 1. The stock exchange ratio has been set at 2.36 shares of Samsung Engineering per one Samsung Heavy…

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  • East Asia

    How to solve the divided families between South and North Korea?

    According to official statistics produced by the Ministry of Unification, as of 30th June 2014 there were 129,553 South Koreans registered as ‘members of divided families’. This is an official status and it means that the registered person is eligible to apply for a family reunion with their relatives in…

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  • East Asia

    Should We Leave Fair Trade As It Is?

    Every now and then in a coffee shop, we spot a product labeled “Fair Trade Product”. Fair trade is definitely a growing trend, though Asia is far behind European countries where the market size is already substantial. It is keeping up steadily, with diverse vibrant organizations promoting the good cause.…

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  • The next visit of Pope Francis

    In 2005, North Korea’s state-run media announced Pope John Paul’s death April 5, three days after it occurred. UCA News reported that the Korean Catholics’ Association sent a condolence message to the Vatican, and a memorial Mass for the late Pope was held in Pyongyang, the North Korean capital, drew…

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  • West Asia

    Iranian film director wins Manhae Award

    Iranian dissident and film director Mohsen Makhmalbaf received the 18th Manhae Peace Award, the Manhae Prize Committee said Tuesday. He is the second Iranian citizen to win the award. Nobel Peace Prize laureate Shirin Ebadi won it in 2003. The award was established in 1997 to commemorate Han Yong-un —…

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