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Russia’s Retaliatory Financial Measures Likely to Deal Blow to S. Korean Businesses

Russia’s Retaliatory Financial Measures Likely to Deal Blow to S. Korean Businesses

SEOUL, March 8 (Korea Bizwire) — South Korean companies with business ties with Russia will likely be hit by Moscow’s retaliatory moves to allow Russian companies to make payments to foreign creditors in the Russian currency. Moscow announced a list of a few dozens of “unfriendly” nations on Monday, including South Korea, the United States, [...]

Local Companies Investing in National Strategic Technologies Eligible for Tax Benefits

Local Companies Investing in National Strategic Technologies Eligible for Tax Benefits

SEOUL, Feb. 25 (Korea Bizwire) — The Ministry of Economy and Finance said Thursday that local companies investing in national strategic technologies directly connected with national economy and security will receive tax deduction up to 50 percent of their investments. This year’s tax law revision cleared the way for businesses that make research and development [...]

Korean Firms Join Hands to Develop Clean Hydrogen in Malaysia

Korean Firms Join Hands to Develop Clean Hydrogen in Malaysia

SEOUL, Jan. 27 (Korea Bizwire) — Three South Korean companies — Samsung Engineering Co., Lotte Chemical Corp. and POSCO — announced on Wednesday that they will jointly launch a clean hydrogen development business in Malaysia. On Monday, the companies signed a memorandum of understanding with Malaysia’s Sarawak Economic Development Corporation Energy to promote the Sarawak [...]

Fashion Companies Join Competition over Premium Perfume

Fashion Companies Join Competition over Premium Perfume

SEOUL, Jan. 11 (Korea Bizwire) — South Korea’s fashion companies are jumping into making premium perfumes, driving head-on towards fierce competition. Handsome Corp., an affiliate of Hyundai Department Store Group, plans to open up a Liquides Perfume Bar in South Korea, an all-brand store for niche perfumes from France. The store plans to introduce some [...]