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Monday, January 22, 2018

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Hyundai Heavy Industries will supply 21 units of 4.1MW dual-fuel Himsen Engine and related equipment for the power plant in Indonesia.

Power Generation Project in Indonesia

18 January 2018 - 11:00am
Lee Song-hoon

Hyundai Heavy Industries landed a US$48 million order to supply dual fuel power generation facilities for the first time from Indonesia.

The deal will empower Hyundai Heavy Industries to participate in a power generation project led by PT. PLN, an Indonesian electric power corporation. Indonesia is planning to build a large power plant with an annual production capacity of 35,000MW by 2019, and is expected to place additional orders with Hyundai Heavy Industries in the future.

Hyundai Heavy Industries announced on January 17 that the company recently won an...

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LS Group Chairman Koo Ja-yeol (right) and LS Mtron Vice Chairman Koo Ja-eun experience a smart touch air vent technology at the CES 2018 on Jan. 12

From New Prospective

16 January 2018 - 11:00am
Lee Song-hoon

LS Group management turned out in the world’s largest consumer technology show “CES 2018.”

LS Group announced on January 15 that Chairman Koo Ja-yeol visited the CES 2018 from the 11th to 12th accompanied by the groups’ 10 key executives, including LS Mtron Vice Chairman Koo Ja-eun, LS Group President Lee Hak-sung and Superior Essex (SPSX) CEO Kim Bong-soo. In particular, Vice Chairman Koo sought out a new business opportunity at the CES before re-establishing LS Mtron’s business portfolio.

Chairman Koo and other key executives visited the exhibition booth of domestic...

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Daewoo E&C received an LOA for multi-purpose construction (Phase 2) for the Hallure River in the Philippines.

Amid Bidding Process

10 January 2018 - 10:30am
Lee Song-hoon

Daewoo Engineering & Construction (Daewoo E&C) said on August 9 that the builder received an LOA for multi-purpose construction (Phase 2) for the Hallure River in the Philippines.

The order was placed by the National Irrigation Administration (NIA) and is to build three dams, waterways and irrigation facilities in Iloilo, a granary of the Philippine. Daewoo E&C solely landed the project. The project will cost US$ 193 million. The construction work will run for 46 months.

The Export-Import Bank signed an economic development cooperation fund (EDCF) loan agreement...

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The official poster of the 2018 Korea Grand Sale.

Shopping Tourism Festival for Foreigners

8 January 2018 - 12:15pm
Lee Song-hoon

The Visit-Korea Committee will hold the 2018 Korea Grand Sale,a shopping, culture and tourism festival for foreigners from January 18 to February 28.(http://www.koreagrandsale.co.kr/en)

First of all, the committee will hold Special Hospitality Week (Jan. 26 to Feb. 25) as many foreigners are expected to visit Korea for the Korea Grand Sale and the 2018 PyeongChang Winter Olympic Games. They will set up temporary tourist information centers and event centers in seven major areas to provide tourist information and interpretation...

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KOGAS Acting President Ahn Wan-gi (left) and CNPC President Zhang Jianhua pose pose after signing an MOU for cooperation in natural gas business in Beijing on Dec. 15.

S. Korea-China Cooperation in Gas Sector

19 December 2017 - 11:00am
Lee Song-hoon

Korea Gas Corporation (KOGAS) signed a memorandum of understanding (MOU) with China National Petroleum Corporation (CNPC) in Beijing on December 15 for cooperation in natural gas business.

CNPC, which ranked fourth in the Fortune Global 500 this year, is one of the largest petroleum and natural gas developers in the world and its scope of business includes oil refining, petrochemical development, natural gas piping construction and engineering. At present, KOGAS and CNPC are working together in Mozambique for resources development and LNG liquefaction and in Canada for LNG...

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KOGAS achieved its investment recovery rate of 101.6% by recovering US$2.53 billion (cumulative crude oil recovery volume of 43.74 million barrels) from the Jubair project in Iraq.

Full Recovery

13 December 2017 - 9:45am
Lee Song-hoon

KOGAS announced on December 12 that the company recovered US$2.49 billion invested in the Jubair project, an oil and gas field development project in Iraq.

KOGAS said that the company achieved its investment recovery rate of 101.6% by recovering US$ 2.53 billion (cumulative crude oil recovery volume of 43.74 million barrels) through KOGAS Iraq B.V., the subsidiary in Iraq invested for the project by KOGAS.

In 2010, KOGAS established an Iraqi corporation to participate in the Jubair project and began production of crude oil. This year, its daily production reached an average...

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KB Kookmin Bank Lee Hwan-ju (left), head of the Foreign Exchange Business Division of KB Kookmin Bank pose with Edmundo Soriano, vice president of BDO Unibank after signing an agreement in the Philippines on Dec. 6.

Banking Alliance with BDO Unibank

11 December 2017 - 11:45am
Lee Song-hoon

KB Kookmin Bank announced on December 8 that the bank signed a business agreement with BDO Unibank on December 6 and promised to provide high quality financial services to Korean residents in the Philippines.

Currently, about 100 million Koreans are living in the Philippines and more than 1.5 million Korean tourists visit the Philippines annually.

BDO Unibank is the No. 1 bank with more than 1,100 branches and about 31,500 employees in the Philippines. The Philippine bank has been running Korea Desk, the largest department for Korean companies in Southeast Asia for eight...

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Poster of Korea Christmas Fair 2017. (photo courtesy: KINTEX)

Christmas Fair

8 December 2017 - 10:30am
Lee Song-hoon

The Korea International Exhibition Center (KINTEX) announced that the fourth annual Korea Christmas Fair takes place on December 8 to 10 and December 15 to 17 as the largest Christmas open market in Asia and this year’s last open market event in South Korea.

Co-hosted by the KINTEX and Exporum, the fair comes with a variety of products, ranging from Christmas goods and gifts to Christmas foods, furniture, home decor items, jewelry, toys, and travel and festival tickets. Chevrolet offers the Malibu as a free gift, too.

K-Baby Kids Fair 2017 and Mungchi Market 2017 take place...

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LG Electronics’ Signature OLED TV W model OLED65W7P won the Best TV Overall prize.

Best UHD TV

4 December 2017 - 11:00am
Lee Song-hoon

Consumer Reports recently selected five top picks after testing about 250 TVs it directly purchased from retail stores.

LG Electronics’ Signature OLED TV W model OLED65W7P won the Best TV Overall prize. “This model is the thinnest one in the market,” Consumer Reports explained, adding, “In addition, it is the best in terms of image quality, sound quality and HDR.”

Samsung Electronics’ 75-inch and 55-inch UHD TVs were picked as the best jumbo-sized 4K TV and the best 4K TV priced at US$1,000 or less, respectively. Consumer Reports said that the 75-inch TV is a...

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Jin Yang-hyun, commissioner of the Busan-Jinhae Free Economic Zone (BJFEZ) shows the “Top Free Zones Award.” (photo courtesy:BJFEZ)

Asia’s Best Free Economic Zone

28 November 2017 - 11:00am
Lee Song-hoon

The Busan-Jinhae Free Economic Zone (BJFEZ) has been awarded the “Top Free Zones Award” for 2017 and named one of the top free economic zones in Asia by Site Selection, an U.S.-based economic development trade magazine.

Site Selection said it has chosen top free economic zones by continent based on a confidential survey of 1,000 site consultants and executives involved in global supply-chain operations. Survey respondents voted on 4,000 Special Economic Zones based on proven track record of success with investors, ease-of-access to necessary information and assistance to current and...

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