• South East Asia

    Indonesia-China Business Forum Opens In Jakarta With Putting Focus On Economic, Trade Cooperation

    Zhang Wei, vice president of the China Council for the Promotion of International Trade (CCPIT), speaks on the Indonesia-China Business Forum at the Ritz-Carlton hotel in Jakarta, Indonesia, Nov. 19, 2012. The forum which kicked off here Monday focused on Indonesia-China economic and trade cooperation. Picture taken on Nov. 19,…

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  • East Asia

    Hanwha E&C secures most orders overseas

    Hanwha Engineering & Construction (E&C), a latecomer among domestic construction firms that have established a presence abroad, has emerged as a major player this year with its accumulated orders surpassing those of other builders. On Wednesday, the building arm of Hanwha Group secured a $585 million order to construct an…

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  • East Asia

    [Indonesia Report] Indonesian civil servants receive training on bureaucratic reform in Korea

    Some 26 of Indonesian Ministries’ staffs came for training in bureaucratic reform in Korea. The first batch came last Monday (November 6) and stayed for a week to have a training on reformation of bureaucratic system at Korea University. The second batch of around 20 people are now attending the workshop. Civil Servants attending…

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  • East Asia

    Bracing for Xi Jinping era

    Korean firms advised to rechart China strategies Korea Inc is widely expected to face fiercer challenges from Chinese rivals during the era of Xi Jinping who has just been elected by the ruling communist party there to lead the world’s second largest economy for the next 10 years. With the…

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  • Retail war deepens

    Lotte plans to build giant outlet in Busan The country’s two largest retail giants will face off again in Busan. Lotte, the biggest retail chain, and its major rival Shinsegae have engaged in fierce competition for years to gain the biggest slice in industries such as department stores, discount stores…

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  • Samsung plans not to sell Google TV in Korea

    Samsung Electronics said Wednesday that it has no plans to sell sets supporting Google’s Web TV service in Korea. The move came as the TV service has received a lukewarm response in key markets such as Europe. “We got less attention for our Google TVs in Europe. Samsung doesn’t have…

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  • South East Asia

    [Indonesia Report] Weakening of Indonesian currency serves cause for concern

    Indonesia Rupiah is becoming weaker in the last few weeks. IDR exchange currency to US Dollar keep experiencing pressure. Kompas.com published an article pointing out the concern on IDR currency devaluation, saying, “The rise of global negative sentiment seemed to leave no room for the rupiah to strengthen.” Kompas.com raised a…

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  • KT, SKT may face credit downgrade

    SK Telecom and KT, the country’s two leading wireless service providers, may face a credit ratings downgrade in the near future due to their excessive marketing war for new customers, Moody’s Investors Service said Tuesday. The global ratings agency also said E-Mart and Lotte Shopping, Korea’s two retail giants, have…

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  • East Asia

    African connections

    The government announced Tuesday that it plans to boost Korea’s trade with African countries with a goal to increase bilateral trade to $80 billion by the year 2020. The Ministry of Strategy and Finance said that it had a new set of measures that will boost economic support for African…

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  • ‘Don’t alienate chaebol’

    Regulator dubs `democratization of economy’ talks populist The nation’s chief financial regulator has called on the three presidential candidates to stop bashing chaebol and find ways of addressing economic polarization from a broader perspective. “We are mature enough to talk about the democratization of economy,” Financial Services Commission (FSC) head…

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