South Korea’s National Tax Service Commissioner Kim Chang-ki promised fair taxation for European companies doing business in Korea during a roundtable meeting hosted by the European Chamber of Commerce in Korea on Thursday. The tax agency revived the government-industry meeting after a 12-year hiatus as part of its renewed commitment to better communications with the foreign corporate community ...

The US Federal Reserve lifted its base rate by 25 basis points on Thursday, easing pressure for the Bank of Korea, which had been concerned about key rate differences between the two countries. The Federal Open Market Committee went for a quarter-point move, raising the target interest rate from 4.5-4.75 percent to 4.75-5 percent. The quarter-point raise fell in line with the market expectation...

The Korea Agro-Fisheries and Food Trade Corp. is making strides to establish South Korea as a global agricultural powerhouse by cultivating human resources and promoting traditional Korean liquor. Its CEO, Kim Chun-jin, gave a special lecture to students attending the agency’s Agricultural Marketing College, as well as to members of the Agrifood Frontier Leader Organization during a seminar held...

South Korea’s largest energy company SK Innovation said Thursday it has invested an additional $50 million in Amogy, a US developer of ammonia-based full-cell systems, as part of efforts to expand its presence in sustainable fuel markets. SK Innovation took part in the latest $139 million Series B-1 funding round for Amogy. Series B-1 refers to the stage of full-fledged business development amon...

The Joseon-era royal palace Gyeongbokgung will hold its annual spring nighttime viewing from April 5 to May 31, the Cultural Heritage Administration announced Thursday. Noted for its beautiful weeping cherry blossoms and azaleas during the season, the Gyeongbokgung nightscape presents a different vibe from the daytime. One of the highlights include the Gyeonghoeru, the largest two-story pavilio...

Hyundai Motor Group said Thursday it has signed a memorandum of understanding with the US-based Advent Technologies to develop hydrogen fuel cells, with the goal of ramping up its hydrogen car business. Under the partnership, the carmaker plans to acquire key technologies for hydrogen fuel cells that can operate at 200 degrees Celsius from Advent Technologies by 2024. It will provide ion transfe...

Prime Minister Han said that if Busan were to win the bid, it will mark a critical juncture in Korea's bid to nurture self-sufficient economies in developing countries. In line with its bid to double the size of development assistance by 2030, Korea will take issues of climate change and inclusive growth seriously, according to Han. The World Expo in Busan "will open a new horizon in Korea's di...

Korea Creative Content Agency announced that its annual, open seminar Content Insight will be held at the Content Human Resource Campus, in Hongreung, Dongdaemun-gu, central Seoul, on March 30. Content Insight invites popular creative content experts to share their thoughts on the current and future trends of the Korean content business. Director Kang Yun-sung, who helmed the hit crime films “T...

The state-run trade promotion agency, Kotra, held a Global Logistics Investors Roundtable event to boost global logistics firms’ investments in Korea, and especially Busan, at the Westin Josun Seoul on Thursday. The event was organized jointly with the Busan Port Authority and the Busan-Jinhae Free Economic Zone Authority. Nine global companies, including German logistics firms DHL Supply Chain...

Shareholders of Shinhan Financial Group on Thursday approved the appointment of Jin Ok-dong, its flagship banking unit’s former CEO, as the group’s new chairman. “I feel a great sense of responsibility to meet the expectations of customers and shareholders and lead the growth of Shinhan,” Jin said in his address at the general shareholders’ meeting held at the group’s headquarters in Seoul. Hav...

Chun died in 2021, and his family was cannot be held liable for the forfeiture because, unlike debt, it cannot legally be inherited. South Korean prosecutors said Wednesday that they were reviewing allegations surrounding Chun’s illegally obtained money, after his grandson's expose of his family enjoying lives of luxury once again put the unpaid fines at the center of public debate. Currently, t...

The presidential office said Thursday that the upcoming Summit for Democracy to be attended by South Korean leader Yoon Suk Yeol is not meant to exclude any particular country, when asked about China's potential opposition to Taiwan's participation in the meeting. A senior official told reporters that the selection of participating countries goes through a process in which the host country, the ...

Part of Wemade's journey to build a blockchain-powered, experience-based, platform-driven, and service-oriented mega-ecosystem SEOUL, South Korea , March 23, 2023 /PRNewswire/ -- Leading Korea-based blockchain company Wemade launched - PAPYRUS - the world's first token gating messenger app - at the 2023 Game Developers Conference taking place this week in San Francisco . PAPYRUS by Wemad...

Sustainable Fertilizer Technologies KUALA LUMPUR, Malaysia , March 23, 2023 /PRNewswire/ -- Over 150 representatives from across the region's petrochemical and fertilizer sectors met in the capital earlier this week to discuss pathways to make their industries more sustainable and competitive. Sustainable Fertilizers Technologies Seminar & Networking Luncheon The Sustainable Fertilizer Tech...

Parmar to oversee 20 markets in the Mars Wrigley Asia portfolio and build on industry tailwinds to drive purpose-led growth SINGAPORE , March 23, 2023 /PRNewswire/ -- Mars Wrigley, a global leader in the treats and snacks category and a business division of Mars Incorporated, today announced the appointment of Kalpesh Parmar as General Manager (GM) for Mars Wrigley Asia. Parmar succeeds Pa...