SEJONG, April 11 (Korea Bizwire) — South Korea’s economy is forecast to expand 3 percent this year, following last year’s 3.1 percent growth, the Asian Development Bank (ADB) said Wednesday. Asia’s fourth-largest economy is likely to benefit from a recovery in major economies and private spending, the regional bank said. In December of last year, [...]
SEOUL, May 11 (Korea Bizwirep) — South Korea’s No. 2 mobile carrier KT said Monday it has won a US$101 million deal from Uzbekistan to provide a smart-energy solutions system that improves efficiency of power management. Under the contract with state-owned power generation company Uzbekenergo, KT will supply energy-metering solutions, such as the Advanced Electricity Metering, that [...]
SEJONG, March 26 (Korea Bizwire) – South Korea will join the China-led regional development bank as one of its founding members, the finance ministry announced Thursday, helping bolster the Asian neighbor’s growing clout in the region that is alerting the U.S. The ministry said the decision to become a member of the Asian Infrastructure Investment [...]
SEOUL, Korea, April 7 (Korea Bizwire) – Although the Korean economy is expected to make a long-awaited recovery this year, its growth rate is estimated to be much lower than those of Asian major economies. According to the Asian Development Bank, Korea’s economy is expected to grow 3.7 percent this year, nearly one percentage point [...]