By Diplomacy Journal Lee Kap-soo “We will hold various events at the level of the International Cooperative Agriculture Organization (ICAO) next year to promote the social and economic contributions of cooperatives,” said Kang Ho-dong, chairman of Nonghyup (NACF) on Aug. 26. “We will spread the success experiences and business models of Korea's cooperatives to drive the sustainable development of cooperatives,” Kang said in a meeting with ICA (International Cooperative Alliance) Secretary General Jeroen Douglas at the Nonghyup Central Headquarters in Jung-gu, Seoul. ICA is a non-governmental o
By Diplomacy Journal Lee Kap-soo Battery research and development company UCT (Ultra Capacitor Technology) Inc. has unveiled a next-generation battery with enhanced safety on Aug. 27. The company held a presentation at the Korea Press Center in Seoul and introduced the 'UCT Battery' that improves the shortcomings of existing lithium batteries. “The 'UCT Battery' utilized an electromagnetic physical charging method that does not require a chemical reaction. By doing so, it has increased its lifespan from 2,000 cycles to at least 20,000 cycles, and has low heat generation and significantly reduc
By Diplomacy Journal Lee Kap-soo Samsung Electronics allowed fans to immerse themselves into the Olympic Games Paris 2024 sailing competition held in the French port city of Marseille. Through the Galaxy S24 Ultra smartphones installed on each boat, fans experienced the race as if they were alongside their favorite athletes — battling the elements together in the middle of the Mediterranean Sea. Samsung implemented optimized software and technology to support filming and transmitting this first-of-its-kind footage in collaboration with the International Olympic Committee (IOC), Olympic Broadca
By Diplomacy Journal Lee Kap-soo Hanwha Ocean signed a Master Ship Repair Agreement (MSRA) with the U.S. Navy, marking an important milestone in consolidating the company's reputation in the global defense market through enhanced cooperation with the U.S. naval shipbuilding sector. The MSRA, which represents Hanwha Ocean’s shipbuilding and maintenance, repair, and overhaul (MRO) capabilities in the global market, is granted by the U.S. Navy to companies that fulfill stringent quality standards for ship maintenance services. Hanwha Ocean underwent a rigorous evaluation process in April to secur
By Diplomacy Journal Lee Kap-soo To mark the domestic launch of the Cadillac luxury electric vehicle ‘Lyriq,’ which extensively utilizes POSCO Group’s secondary battery materials and steel products, POSCO Group and GM hosted a joint promotional event. On July 26, both companies displayed the ‘Lyriq’ at the POSCO Center in Gangnam, Seoul, offering test drives and purchase consultations to POSCO Group employees and nearby professionals. The event was attended by Yoo Byeong-og, President of POSCO Future M; Seo Yu-ran, Head of POSCO’s Automotive Materials Marketing Division; Hector Villarreal, Pre
By Diplomacy Journal Lee Kap-soo HD Hyundai Oil Bank announced on July 29 that it will start exporting bio marine oil from the Pyeongtaek General Bonded Zone for the first time in Korea. Bio marine oil is an eco-friendly marine oil that reduces carbon emissions by more than 65% compared to conventional fossil fuel-based marine oil. HD Hyundai Oil Bank has begun exporting bio marine oil blended in the General Bonded Zone in Pyeongtaek, Gyeonggi Province. The export became possible after the government lifted restrictions on blending petroleum products in the comprehensive bonded zone as part of
By Diplomacy Journal Kayla Lee | The Buddhist University, affiliated with the Korean Buddhist Council (the “Buddhist Council”), held its first Buddhist sermon contest at the Supreme Hall of Bomyeong-sa Temple in Incheon, Korea on June 13, where four students from the School of Buddhist Priest Law were selected and participated in the first preaching contest with the participation of the chairman, president, dean, professors, certified teachers, and members of the congregation. “The Buddhist University of the Buddhist Council is an academy education for the training of social leaders,” said Dr.
By Diplomacy Journal Lee Kap-soo Canada’s export credit agency, announced on July 3 the signing of a Memorandum of Understanding (MOU) to advance export trade and investments between Canada and the Republic of Korea. The MOU will foster deeper trade collaboration between both countries, creating new and expanded opportunities for Canadian businesses and investors seeking to grow and succeed in Korea as well as investments in Canada. With a focus on two of EDC’s priority sectors, clean technology and advanced manufacturing, this mutually-beneficial partnership will support businesses focused on
By Diplomacy Journal Lee Kap-soo Yun Seog-dae, CEO of Korea Water Resources Corporation (K-water), met with Cambodian Ambassador to Korea Chring Botumrangsay at the Cambodian Embassy in Seoul on July 18 to discuss ways to strengthen bilateral cooperation in the water, energy and urban areas. The meeting was organized to discuss specific action plans and cooperation directions for projects in the water, energy, and urban sectors, which were promoted following a meeting with Cambodian Prime Minister Hun Manet during his state visit to Korea in May. During the meeting, the company proposed the 'N
By Diplomacy Journal Lee Kap-soo Gyeonggi-do Governor Kim Dong-yeon met with Jennifer Scanlon, chairwoman and CEO of UL Solutions (UL), at the provincial government office on June 26 to discuss attracting investment in the establishment of an advanced automotive and battery safety testing center. As UL is a global leader in industrial safety certification, the two leaders paid their respects to the victims of the Hwaseong lithium battery factory fire and discussed ways to cooperate in the field of industrial safety. According to Gyeonggi Province, Governor Kim said, “Although I canceled all ot
By Diplomacy Journal Kayla Lee South Korea will launch a joint public-private 'urban export' program to develop new cities in Vietnam based on the Korean new city model. The Ministry of Land, Infrastructure, and Transport (MOLIT) said that a joint public-private assistance team headed by Minister Park Sang-woo visited Vietnam from July 15-17, where the two countries agreed to cooperate on large-scale projects such as urban development and high-speed rail construction in Vietnam. The visit is aimed at concretizing the follow-up projects of the Urban Growth Partnership Program (UGPP), the outcom
By Diplomacy Journal Lee Kap-soo Hyundai Motor Group and the University of Oxford held an opening ceremony for the Oxford-Hyundai Motor Group Foresight Centre at Oxford’s historic Convocation House on July 8 to mark a new partnership between the two organizations. Based at Saïd Business School, the Foresight Centre will support exploring the Group’s long-term vision and strategic direction. It will strengthen the Group’s ability to proactively shape the future and identify critical focus points to address future geopolitical shifts and risks in advance. The Centre will conduct innovative resea
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