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Korea Development Bank Begins Process to Sell Management Right of HMM

Korea Development Bank Begins Process to Sell Management Right of HMM

Korea Development Bank (KDB) has initiated the sale of the management right of global shipping and logistics company, HMM. HMM's privatization process is expected to proceed quickly, as KDB Chairman Kang Seog-hoon has pledged to expedite the sale of the shipping firm. KDB and the Korea Ocean Business

Labor Shortages in Korean Shipbuilding Industry Threaten Delays in Production

Labor Shortages in Korean Shipbuilding Industry Threaten Delays in Production

Several South Korean shipbuilders are facing delays in production due to a shortage of workers. As a result, local governments are offering unconventional subsidies of around 10 million won (approximately $8,500) to attract more laborers this year. Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries,

Korean Government's Continued Efforts to Promote Webtoon Industry: Establishing a Fair Ecosystem and Protecting Creators' Rights

Korean Government's Continued Efforts to Promote Webtoon Industry: Establishing a Fair Ecosystem and Protecting Creators' Rights

The Ministry of Culture, Sports, and Tourism of South Korea has announced that the National Assembly has passed the amendment to the Promotion of Cartoons Act. This amendment addresses the use of standard contracts and reflects the changing environment of the webtoon industry. The long-awaited amendment to the Promotion of

Busan's 'Collaborative Sales Network' Facilitates Overseas Orders for Small and Medium-Sized Shipbuilders

Busan's 'Collaborative Sales Network' Facilitates Overseas Orders for Small and Medium-Sized Shipbuilders

Busan City has announced that it has supported the domestic construction of two small and medium-sized ships over the past two years as part of the 'Small Ship Export Assistance Program.' The initiative, which aims to revitalize the small and medium-sized shipbuilding industry, has generated sales worth KRW

TikTok Faces Further Scrutiny as European Commission Bans App for Data Privacy Concerns

TikTok Faces Further Scrutiny as European Commission Bans App for Data Privacy Concerns

TikTok, the popular Chinese-owned social media app, has been in the crosshairs of various governments around the world due to concerns over data privacy and national security. The European Commission recently ordered its staff to remove the app from their phones and corporate devices to protect data and increase cybersecurity.

Busan as a Global Financial Center: its Competitiveness and Challenges

Busan as a Global Financial Center: its Competitiveness and Challenges

Asia has become an increasingly important player in the global economy, with a growing number of financial centers attracting international financial firms. For many years, Hong Kong and Singapore have been the primary financial hubs in the region, with a stable political environment, efficient regulatory systems, and a highly skilled

Navigating Economic Challenges: What South Korea Can Learn from Brexit

Navigating Economic Challenges: What South Korea Can Learn from Brexit

As South Korea faces its own political and economic challenges, there are several key lessons that can be learned from the tumultuous and challenging process of Brexit. The first lesson is that the decision to leave the EU was driven by a desire for independence, but in reality, it has