By Diplomacy Journal Lee Kap-soo LG Electronics has been honored at the Volkswagen Group Award 2024, which took place in Wolfsburg, Germany, on July 2. LG was recognized by the Volkswagen Group, one of the world’s premier automakers, in the ‘Partnership’ category for its outstanding development, manufacture and supply chain management of mobility technologies and solutions, including in-vehicle infotainment systems and connectivity products. The award highlights LG’s unwavering commitment to excellence and points to its growing reputation in the automotive sector as a trusted partner and innov
By Diplomacy Journal Lee Kap-soo From a Small Family Factory to the Largest Production Facility in the Region: Andrey Shin and His Ice Cream Andrey Shin is a man who turned a small family business into the largest ice cream production company in Kazakhstan and Central Asia. How did he achieve this? It All Started with "Bomb" Shin-Line, a prominent company in Kazakhstan, is a recipient of numerous awards and part of the "Competitiveness Leaders - National Champions" program. The company's primary focus is ice cream production, accounting for 77% of its total output. Shin-Line also produces milk
By Diplomacy Journal Lee Kap-soo The Embassy of Nepal in Korea hosted the Nepal’s Tourism Promotion Event and B2B Meeting at the Korea Press Center in Seoul on June 27, 2024. Delivering welcoming and opening remarks by Prof. Dr. Jyoti Pyakural, Ambassador of Nepal to the Republic of Korea, said, “Nepal and Korea need to expand bilateral cooperation, especially in the tourism sector, this year, which marks the 50th anniversary of Nepal-Korea diplomatic relations. Accordingly, I hope that more Korean tourists will visit the beautiful country Nepal.” In the Nepal destination presentation, Hikmat
By Diplomacy Journal Lee Kap-soo Korean Air Flight KE189, which departed Incheon International Airport for Taichung International Airport in Taiwan, was diverted due to an airframe defect. Flight KE189 took off at 4:45 p.m., and about 50 minutes later, while flying over Jeju Island, a message was displayed stating that there was an "abnormality in the pressurization system". The pressurization system regulates the pressure inside the aircraft. The Boeing 737 MAX 8 in question is a Boeing 737 MAX 8, which was identified last October as having a 'pressure bulkhead' abnormality, leading to a glob
By Diplomacy Journal Lee Kap-soo POSCO International, led by CEO Lee Kye-in, is setting up a production base for the European electric vehicle (EV)market this year, following its expansion into the North American market last year. A groundbreaking ceremony for the new traction motor core plant was held in Brzeg, Opole Voivodeship, Poland on June 11, 2024. The event was attended by Opole Marshal Andrzej Bula, Brzeg Mayor Violetta Jaskolska-Palus, Korean Ambassador to Poland Lim Hoon-Min, POSCO International Green Industry Business Head Lee Young-Woo, and others. The new plant, which will occupy
By Diplomacy Journal Lee Kap-soo Lotte Group Chairman Shin Dong-bin met with Uzbekistan's Prime Minister Abdullah Arifov to discuss economic cooperation on June 13. According to Lotte Group, Shin visited Uzbekistan as part of President Yoon Suk-yeol's three-nation tour of Central Asia. While there, Shin met with Prime Minister Arifov and discussed ways to strengthen joint projects related to energy, tourism, and the food industry. "Lotte Group is one of Asia's largest conglomerates," said the Uzbek government, "and this high-level dialogue will lay the foundation for the development of our two
By Diplomacy Journal Lee Kap-soo ISTE signed an agreement with VILDUJA, a Lithuanian energy company, on March 27 to jointly promote various hydrogen projects, including the construction of on-site hydrogen refueling stations. VILDUJA has decided to cooperate with ISTE on technical cooperation and joint business in line with Lithuania's focus on developing the renewable energy and hydrogen industries. In recent years, Lithuania has been investing heavily in the renewable energy and hydrogen industries at the national level. As part of this, it is promoting the construction of on-site hydrogen r
By Diplomacy Journal Lee Kap-soo “Kazakhstan is a wonderful place to visit. We have a golden triangle that any Korean should go and visit,” said Ambassador Nurgali Arystanov of Kazakhstan in Korea on June 19. Delivering welcoming remarks at the Kazakhstan Tourism Roadshow held at The Plaza Hotel in Jung-gu, Seoul, Amb. Nurgali Arystanov said, "Korea and Kazakhstan have a visa-free agreement and are close siblings with a six-hour direct flight," introducing Kazakhstan's accessibility and attractiveness as a travel destination. The ambassador highlighted three cities, known as the "Golden Triang
By Diplomacy Journal Lee Kap-soo “India offers promising prospects to Korean companies doing business in agriculture and food processing fields,” said Y. Kim, Adjunct Professor at the Hankook University of Foreign Studies, Department of Indian languages, Director at the Institute of Indian Studies and author of books like "India Now" and "Guide to Indian Business Trip". At the 47th Speaker Forum, titled "Indian Elections 2024 - Political & Economic Outlook,” which was organized by the Indian Chamber of Commerce in Korea (ICCK), Prof. Kim, the keynote speaker, said, “Korean companies need t
By Diplomacy Journal Lee Joon-seok | Good Call & AT LAB, led by Chairman Lee Won-jung, are cultivating and processing high quality agricultural products (functional agricultural products) with their own patents and technologies, cultivating and distributing functional agricultural products with local governments and local agricultural cooperatives in various parts of Korea, and conducting safety and efficacy evaluation projects (animal experiments) with the Korea Institute of Oriental Medicine and efficacy evaluation projects (clinical trials) with Wonkwang Oriental University Hospital. In
By Diplomacy Journal Lee Kap-soo “Any Korean company, which might be interested to invest in tourism and hospitality industry in Croatia, can find a very attractive business opportunity,” said Ambassador H.E. Damir Kušen of Croatia in Seoul. Delivering welcome speech at the Croatian-Korean Business Forum held at Coryo Daeyeongak Tower in Seoul, Amb. Kusen said, “Let me remind you that Croatia has more than 1700 kilometers of the coastline with a lot of opportunities for building tourism infrastructure and facilities. With an introduction of the new direct flights between Seoul and Zagreb, the
By Diplomacy Journal Lee Kap-soo SK Group Chairman Chey Tae-won was ordered by an appellate court on May 30 to pay his estranged wife Roh So-young, the former late President Roh Tae-woo's only daughter, 1.38 trillion won (US$1 bil.) in property division and 2 billion won in alimony as part of his divorce from Roh. As for Choi's shares in SK Inc., a group holding company, which were not recognized as property to be divided in the first trial, the second trial ruled that the shares were subject to property division, saying that Roh had a contributory share. As the second trial court in the divor
By Diplomacy Journal Lee Kap-soo POSCO-ICPC was named “Supplier of the Year” at the Supplier Day 2024 event held by Schaeffler India in Maharashtra, India, on April 18. Schaeffler India, a global automobile parts manufacturer, holds the Supplier Day event every two years to share its main performance and mid- to long-term strategies with key suppliers and award outstanding suppliers by evaluating them in nine categories, including quality, delivery, cost, innovation, and sustainability. POSCO-ICPC received the highest ratings in all categories at the event, which was attended by more than 200
By Diplomacy Journal Lee Kap-soo Minister for Trade Cheong In-kyo attended the Korea-UAE Business and Investment Forum on May 28, co-hosted by Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the United Arab Emirates (UAE)’ Ministry of Economy and co-organized by Korea Chamber of Commerce and Industry (KCCI) and the UAE Embassy in Seoul, with aim to encourage both countries’ business leaders and their new partnerships. Held on the occasion of the UAE President Sheikh Mohamed bin Zayed’s first state visit to Korea and attended by UAE Minister of State for Foreign Trade Thani bin Ahmed
By Diplomacy Journal Lee Kap-soo Korea Customs Service (KSC) Commissioner Ko Kwang-hyo attended the 'European Business Roundtable in Korea' hosted by the European Chamber of Commerce in Korea on May 28. The meeting was attended by 30 representatives of European companies in Korea and the European Union Delegation to Korea, and Commissioner Ko was invited by Philippe Van Hoof, Chairperson of the European Chamber of Commerce in Korea (ECCK). Commissioner Ko expressed his pleasure to attend this year's event after last year's ('23.9.7), and shared the direction of tariff policy with European comp