By Diplomacy Journal Lee Kap-soo KB Bank Indonesia ("KBI"), a subsidiary of KB Kookmin Bank, held "KB Bank Economic Outlook 2026," a forum in Jakarta, Indonesia, on Nov. 27 to forecast Indonesia's economic and political landscape ahead of 2026. The forum was held under the theme "Navigating Indonesia's Next Growth Wave: Economic Outlook and Political Landscape 2026." Key speakers included Luhut Binsar Pandjaitan, Chairman of the National Economic Council (NEC/DEN) and Special Advisor to the President; Pandu Patria Sjahrir, Chief Investment Officer (CIO) of the Indonesian sovereign wealth fund
By Diplomacy Journal Lee Kap-soo The Ministry of SMEs and Startups (MSS) with the Korea Venture Business Association hosted the 2025 Venture Billion Ceremony on 27 November, at EL Tower in Seoul. ”Venture Billion” refers to Korean venture companies that record annual revenues of at least KRW 100 billion (approximately USD 70 million). The ceremony served as a signature event on the second day of Korea’s inaugural Venture Week (November 26 – December 2), bringing national recognition to companies that achieved and maintained annual revenues of KRW 100 billion as of the end of 2024. Since the ve
By Diplomacy Journal Lee Kap-soo LG Electronics signed a strategic partnership with Expo City Dubai – a city borne out of the Dubai government-backed 2020 World Expo – to collaborate on the development of a next-generation smart city on Nov. 19. The agreement was signed by William Cho, CEO of LG Electronics and Ahmed Al Khatib, Chief Development and Delivery Officer, Expo City Dubai. The partnership builds on discussions at the Korea–UAE Business Roundtable, where both governments agreed to deepen cooperation in AI-powered service development and AI infrastructure. It also further deepens LG’s
By Diplomacy Journal Lee Kap-soo Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR), met with Nazar Aziz Savzali, Deputy Minister of Industry and New Technologies of the Republic of Tajikistan, on November 24, at the Korea Trade Insurance Corporation in Seoul to discuss expanding bilateral economic cooperation in trade and investment, official development assistance (ODA), and critical mineral supply chains. The Tajik delegation also included Abdugaffor Jamolzoda, Deputy Director of the Export Agency, and Shamsullo Khairullozoda, Deputy Minister
By Diplomacy Journal Lee Kap-soo Yeungnam University hosted the "2025 Global Saemaul Undong Forum" at the Cheonma Art Center on Nov. 28. This year's forum, themed "Challenges and Directions for Global Sharing of the Saemaul Movement and Saemaul Studies," brought together experts and practitioners from around the world to share the development experiences of the Saemaul Movement and Saemaul Studies with the international community and present the university's future vision of nurturing talented individuals who will contribute to the advancement of human society. The event was graced by the pres
By Diplomacy Journal Lee Kap-soo The Ministry of Trade, Industry and Resources (MOTIR) held the 29th Korea–Latin America Business Forum on November 28, at COEX in Seoul, together with the Korean Council on Latin America and the Caribbean and other private sector organizations. The forum brought together diplomatic representatives from 18 Latin American countries in Korea, Korean companies operating in the region, and officials from trade and investment support institutions. Established in 1997, the forum is held annually. This year’s session examined the Latin American business environment in
By Diplomacy Journal Lee Kap-soo Hyundai Motor Group held a topping-out ceremony for its Future Mobility Battery Campus in Anseong, Korea on Nov. 28, marking a major milestone in the Group’s commitment to advancing battery technology and enhancing global electric vehicle (EV) competitiveness. The event, held at Anseong’s Fifth General Industrial Complex, celebrated steady construction progress since breaking ground in January 2025 and reaffirmed the Group’s vision to lead future mobility through next-generation battery research and development infrastructure. Representing a KRW 1.2 trillion in
By Diplomacy Journal Lee Kap-soo The American Chamber of Commerce in Korea (AMCHAM), led by Chairman and CEO James Kim, hosted National Tax Service Commissioner Lim Kwang-hyun at a roundtable at the IFC Forum in Yeouido on Nov. 28 for a wide-ranging discussion on how to further enhance Korea’s attractiveness as a global investment destination. The AMCHAM delegation shared insights on the tax and regulatory challenges foreign companies encounter in Korea and emphasized the need for greater predictability and clarity in the business environment. Commissioner Lim outlined the administration’s tax
By Diplomacy Journal Lee Kap-soo The Korean-German Chamber of Commerce and Industry (KGCCI), led by President & CEO Marie Antonia von Schönburg, held a meeting on November 26 with Woo Won-shik, Speaker of the National Assembly, together with the French-Korean Chamber of Commerce and Industry (FKCCI). The meeting focused on the business environment for foreign-invested companies, key regulatory issues, and ways to deepen bilateral economic cooperation. During the meeting, the parties exchanged views on the recently passed “Yellow Envelope Act,” Korea’s energy transition policy, and measures
By Diplomacy Journal Lee Kap-soo The ECCK Christmas Dinner took place at the Nuri Ballroom of the Four Seasons Hotel Seoul on Nov. 20, bringing together more than 150 guests for an evening filled with festive spirit. The venue’s holiday atmosphere was elevated by a special Christmas tree installation by Mercedes-Benz Korea, designed as a modern take on the traditional bokjumoni. The programme opened with a live Classical Performance featuring Oboe, Violin, and Piano by Dulwich. Following the performance, ECCK Chair Philippe van Hoof delivered the opening remarks. H.E. Ugo Astuto, Ambassador of
By Diplomacy Journal Lee Kap-soo First Vice Minister Park Yoon-joo held the "Korea-Thailand Strategic Dialogue" with Thai Permanent Secretary of the Ministry of Foreign Affairs Eksiri Pintaruchi in Seoul on November 26. Vice Minister Park extended condolences to both sides regarding the death of Queen Sirikit of Thailand (October 24) and the recent human and material damage caused by heavy rains in southern Thailand (including Songkhla). Vice Minister Eksiri expressed her gratitude and congratulated Korea on the successful hosting of the Gyeongju APEC Summit. The two vice ministers commended t
By Diplomacy Journal Lee Kap-soo The East Sea Regional Coast Guard Headquarters announced that it held a working-level meeting at the Indonesian Embassy in Korea on Nov. 24 to discuss crime prevention and cooperation measures for foreign seafarers. This meeting was requested by the East Sea Coast Guard in response to the growing need for information exchange on crime prevention and human rights policies, particularly given the high proportion of Indonesian nationals among foreign seafarers working on the East Coast amid increasing attention to the human rights of foreign workers. The meeting d
By Diplomacy Journal Lee Kap-soo Lotte Hotel & Resort announced on Nov. 24 that it hosted a “Kimchi Day Diplomatic Luncheon” at Signiel Seoul on Nov. 21, inviting ambassadors from over 20 countries including Canada, New Zealand, and Thailand. This event was organized to widely share the history and significance of kimchi, Korea's representative food, and to expand private-sector exchanges and friendly relations between nations. The event featured a lecture on the types and history of kimchi, along with a menu themed ‘Kimchi Harmonizing with Each Country's Cuisine’. Modern reinterpretations
By Diplomacy Journal Lee Kap-soo Unification Minister Chung Dong-young met with U.S. Chargé d'Affaires in Korea Kevin Kim on Nov. 25 and discussed cooperation between South Korea and the U.S. regarding the situation on the Korean Peninsula and policies toward North Korea and unification. Meeting with Ambassador Kim at the Government Complex Seoul that day, Minister Chung stated, “South Korea and the U.S. will closely cooperate to resume North Korea-U.S. dialogue.” He also remarked, “The Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju has opened a window of opportunity to initiate d
By Diplomacy Journal Lee Kap-soo Hanwha Ocean, the shipbuilding affiliate of Korea’s Hanwha Group, has won a 757.7 billion-won (US$515 million) order to construct four very large crude carriers (VLCCs) for an Africa-based shipping company, it announced on Nov. 24. According to the regulatory filing, the vessels are scheduled for delivery by November 2028. The name of the client has not been disclosed. With this latest contract, Hanwha Ocean’s order intake for the year has reached US$6.97 billion. The company secured US$8.98 billion in total orders in 2024, demonstrating continued momentum in l