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East Asia

Blackout feared

Concerns are rising that Korea will face serious power shortages this winter following the unexpected stoppage of two nuclear reactors in Younggwang, South Jeolla Province due to faulty parts. The demand for electricity surges when temperatures fall. Yet it’s believed that the two reactors ㅡ each capable of generating one…
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‘Islam fund’ to be launched for SMEs

The government plans to join hands with sovereign wealth funds from the Middle East to launch private equity funds (PEF) to support small Korean companies seeking to advance into the rapidly-growing market. To that end, industry sources said the Korea Finance Corporation (KoFC), the state-run lender, is now in talks…
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East Asia

GS to expand business in Singapore

GS Group, Korea’s eighth largest conglomerate by assets, is seeking to expand its energy, retail and construction businesses in Singapore in line with the company’s growth strategy focusing on Southeast Asian nations. GS Group Chairman Huh Chang-soo convened a meeting of heads of affiliates in Singapore from Sunday to Monday,…
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Business

Road to GMO?

Biotech giants find opportunity in food insecurity The severe drought in the United States this year is set to take its toll on Korean households’ dining tables. The U.S. accounted for some 40 percent of global corn production in 2010 while the U.S., Argentina and Brazil together produced more than…
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South East Asia

[Indonesia Report] Indonesia will strengthen cooperation with Britain in energy resources

Indonesia President Susilo Bambang Yudhoyono’s visits to London last week will promote cooperation between Jakarta and London in the field of energy and resources. According toKompos.com, Indonesian Minister of Natural and Mineral Resources Jero Wacik who accompanied the president said that Indonesian government asked for more investment from British Oil and Gas Companies. Development of Natural Resource…
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East Asia

‘Gangnam Style’ signals bright future for Korea

Psy is becoming an international star through his sensational song “Gangnam Style,” a Billboard hit which has spawned a dance craze. On the surface, it is just a passing fad but many people say that the rise of the Korean singer on the global scene suggests that Korea is moving…
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East Asia

Mega leisure hub in sight

Incheon to turn two islands into comprehensive leisure complex Korea will create a comprehensive cultural, tourism and leisure complex on a site near the Incheon International Airport, three times bigger than Macao, in a bid to attract more wealthy Chinese tourists. The large-scale development project, designed to turn two islands…
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South East Asia

[Indonesia Report] Indonesia achieves record economic growth in 2012

Indonesia has achieved a record economic growth in the period from January through September 2012 with export of more than US$ 1 billion per month. In 2012, Indonesia export to non-conventional countries raises sharply. Indonesia Central Statistic Bureau’s Chief, Suryamin, told Vivanews.com that in September Indonesia has recorded a trade surplus of US$ 552,9 million, compared…
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East Asia

Restructuring in full swing

POSCO sells non-core assets; SK decentralizes POSCO, SK and other large business groups here, which have seen their bottom lines deteriorate, have begun taking preemptive measures to better cope with worsening business conditions at home and abroad. Some conglomerates are rushing to dispose of non-core units to raise much-needed cash…
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East Asia

Convenience store republic of Korea

24-hour shops multiplying at rapid rate but that doesn’t mean their business is thriving These are dreadful times for small businesses but convenience stores seem to be defying the odds as they begin to cover Korean streets like a blanket. Still, it’s debatable whether thriving is the right word to…
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