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K-Beauty Turns to Africa, Latin America, Russia

K-Beauty Turns to Africa, Latin America, Russia

SEOUL, March 5 (Korea Bizwire) — “K-beauty” products are gaining a foothold in new markets outside of China and Southeast Asia. While shipments to China comprises around 40 percent of all South Korean cosmetics exports, the geopolitical standoff over U.S. missile defense installations last year has spurred on companies to establish a presence in Africa, [...]

S. Korea, Russia Agree to Step Up Energy Cooperation

S. Korea, Russia Agree to Step Up Energy Cooperation

SEOUL, Feb. 21 (Korea Bizwire) — South Korea and Russia have agreed to beef up cooperation in the energy sector on a wide range of areas, including natural gas, electricity and renewable energy development, the Seoul government said Wednesday. Pak Won-ju, South Korean deputy energy minister at the Ministry of Trade, Industry and Energy, held [...]

PyeongChang Organizers ‘Respect’ IOC’s ban on Russia from 2018 Olympics

PyeongChang Organizers ‘Respect’ IOC’s ban on Russia from 2018 Olympics

SEOUL, Dec. 6 (Korea Bizwire) — Organizers of the 2018 PyeongChang Winter Olympics said Wednesday they “respect” the decision by the International Olympic Committee (IOC) to ban Russia from the competition over its state-sponsored doping. The IOC’s Executive Board announced in Lausanne, Switzerland, that it would suspend the Russian Olympic Committee (ROC) with “immediate effect.” [...]

Moon Discusses Energy, Infrastructure, Agriculture in Address at EEF

Moon Discusses Energy, Infrastructure, Agriculture in Address at EEF

VLADIVOSTOK, Sept. 7 (Korea Bizwire) — President Moon Jae-in on Thursday proposed expanding economic cooperation between South Korea and Russia in a wide range of areas, including energy, infrastructure and agriculture, noting those projects might set an example of co-prosperity for isolated North Korea. In his address to the third Eastern Economic Forum (EEF) in [...]

Alipay Enters Partnership with VTB to Expand Merchant Network in Russia

Alipay Enters Partnership with VTB to Expand Merchant Network in Russia

HANGZHOU, China, Aug. 4 (Korea Bizwire) — Alipay, the world’s largest online and mobile payment platform and lifestyle super app operated by Ant Financial Services Group, today announced its partnership with VTB Group, one of Russia’s leading banking groups. VTB Group has recently started merchant acquiring for Alipay payments service in its over-120,000-POS-device network, which [...]