UNJournal Jon Lee | Ilhwa Co. announced on Dec. 29 that it has signed a supply contract to export its barley carbonated beverage 'Mc Col' to South Africa. By signing a supply agreement with Trilion Cart, a local network group with many large affiliates in South Africa, Ilhwa will officially introduce Mc Col to the African market. The supply agreement totals 200,000 cans. Mc Col is Korea's leading longevity brand, launched in 1982. It is characterized by its cool and refreshing barley flavor. It has rich nutritional ingredients such as vitamins B1, B2, and vitamin C. It is currently exported to
UNJournal By Kayla Lee | Seoul Tourism Organization (STO), led by CEO Gil Ki-yeon, has reorganized the Seoul Lantern Festival & Gwanghwamun Square Market into Season 2 for the New Year 2024. Season 2 will run from January 1 to 21. First of all, the Seoul Lantern Festival will add a media show for the New Year and conduct various experience programs. A projection mapping content 'New Year Media Show' will be held from 9:50 p.m. to 10 p.m. every day until the 21st in the White Hall, a 360-degree sphere representing the universe, wholeness, and earth. Various videos symbolizing the city, peop
UNJournal Jon Lee | Singapore Tourism Board (STB) announced the appointment of Nicky Seet as the new head of its Korea office on Dec. 20. Nicky Seet will continue to lead strategic planning, marketing and promotional activities to make Singapore an attractive destination for Koreans, in line with the launch of Singapore Tourism Board's new global campaign, 'Made in Singapore'. She joined Singapore Tourism Board in 2015 as Senior Manager, Lifestyle Area Development, where she spearheaded the regeneration of Singapore's Orchard Road and supported various community activities. Orchard Road has re
UNJournal Jon Lee | LG Chem has commenced the construction of a cathode plant in the U.S., intending to establish a production hub for the global battery material market. The facility, located in Montgomery County, Clarksville, Tennessee, will locally produce cathode materials optimized for North American electric vehicles (EVs) and collaborate with key partners from development to supply chain. On December 20, LG Chem held the groundbreaking ceremony for its cathode plant in Tennessee. The event was attended by guests including Tennessee Governor Bill Lee, Commissioner Stuart McWhorter, Senat
UNJournal Jon Lee | Minister for Trade Dukgeun Ahn and Gulf Cooperation Council (GCC) Secretary General Jassim Mohammed Al-Budaiwi concluded and signed the joint statement for the Korea-GCC Free Trade Agreement (FTA) on December 28 in Seoul. The Korea-GCC FTA is Korea’s 25th FTA (by concluded order), and the second FTA with an Arab country following the Korea-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) concluded in October. Trade Minister Ahn assessed, “Alongside the CEPA concluded with the UAE in October, this FTA signed with GCC is a major catalyst for the
UNJournal Jon Lee | Delivering the New Year address to the nation, President Yoon Suk-yeol said on Jan. 1, 2024, "The center of all national affairs is the people. I will make the year of 2024 a year of civil recovery where the warmth of economic achievements and economic recovery reaches every corner of people's lives." President Yoon said in his address, which was broadcast live from the Yongsan presidential office on the morning of the same day, "I will go into the field of people's lives, listen to even the smallest voices, and promote true people's policies that change people's lives." Pr
UNJournal Jon Lee | (Exclusive Interview) "In the upcoming year of 2024, I will do my best to build a predictable audit environment and encourage active management to innovate the organizational culture of KSPO," said Ha Hyung-joo, the standing auditor of Korea Sports Promotion Foundation (KSPO), on Dec. 28. In an exclusive interview with Diplomacy Jopurnal, Ha said, "It has been five months since I was appointed as the standing auditor of the KSPO, and I have improved my understanding of the KSPO's business through reports from each business unit, and I have set the audit philosophy and direc
UNJournal Jon Lee | GS E&C (Engineering & Construction) is still reeling from the aftermath of the 'Incheon Geomdan Apartment collapse incident'. The company's financial health has been put on red alert as the cost burden of rebuilding the entire complex has increased, and profitability has declined due to the downturn in the housing market and rising cost rates. According to the industry sources, GS E&C's growing debt and deteriorating financial strength are weighing on its creditworthiness. Korea Ratings recently downgraded GS E&C's unsecured bond rating to 'A/stable' from 'A
UNJournal Jon Lee | Hyundai Motor Company and Mubadala Investment Company “Mubadala”, an Abu Dhabi-based global sovereign investor, have signed a memorandum of understanding (MOU) to jointly explore potential business opportunities and synergies for future mobility and technologies. The signing ceremony, which took place on Dec. 15 in Abu Dhabi, was attended by Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company. This marks the beginning of a strategic collaboration that will drive pro
UNJournal Jon Lee (New Year Message) Dear readers of the Diplomacy Journal, I wish all readers of Diplomacy Journal all the best in the coming year 2024. The year 2023 was a very special year for us as it marked the 60th anniversary of diplomatic relations between the Republic of Korea and Switzerland. It was also the 70th anniversary of Switzerland's presence on the Korean Peninsula as a member of the Neutral Nations Supervisory Commission. Over the past six decades, our two countries have cultivated a solid partnership in politics, economics, science, technology, business, art and design. On
By Lee Jon-young, Publisher-Chairman of Diplomacy Journal President Yoon Suk-yeol's government has about 120 national tasks. Under the national vision of "Korea again, a country of new people," the Yoon administration has been going all-out to achieve six big national goals with the attitude of Korea’s No. 1 salesman. However, the government is facing serious difficulties due to stiff opposition from the giant opposition party and is under some pressure to fulfill the national tasks. However, the Yoon administration has been actively earning foreign currency for its goals by holding a series o
UNJournal Jon Lee Ambassador of Kazakhstan Nurgali Arystanov held a meeting with Deputy Minister of Foreign Affairs for Political Affairs of Korea Chung Byung-won, during which the parties compared notes on the agenda of Kazakh-Korean cooperation, on Dec. 14. During the meeting, special attention was paid to the schedule of upcoming bilateral events, interaction within the framework of multilateral structures, including the CICA and the Central Asia - Republic of Korea format. In the context of further enhancing trade and economic cooperation in promising areas such as energy, technology trans
UNJournal Jon Lee Ambassador of Kazakhstan Nurgali Arystanov gave a special lecture for students of the Central Asia Department of the Hankuk University of Foreign Studies (HUFS) on Dec. 13. The Kazakh diplomat spoke of the positive dynamics of the political dialogue, especially noting regular meetings between the leadership of the two countries, including between Presidents Kassym-Jomart Tokayev and Yoon Suk-yeol, Deputy Prime Minister - Minister of Foreign Affairs of the Republic of Kazakhstan Murat Nurtleu and Minister of Foreign Affairs of Korea Park Jin as well as between the Chairman of
UNJournal Jon Lee | The reporter met with Chief Jung Young-jin of Busan Coast Guard and interviewed him about his experiences with the maritime police. This article is based on an interview with Chief Jung Young-jin of the Busan Coast Guard about his experience in rescuing a coastal patrol ship carrying 25 police officers. — Ed. Chief Jung Young-jin said, "I joined the marine police directly and spent many years at sea for 34 years. First of all, I would like to thank my wife and children for believing in me and following me all these years. I could have neglected my family because I spent mor
UNJournal Jon Lee | Jeju Special Self-Governing Province held a 'Jeju Global Policy Briefing' at the Grand Mercure Bangkok Atrium Hotel in Bangkok to share Jeju's core values and vision on Dec. 1, along with the 'Jeju-ASEAN Plus Alpha' policy. This briefing, organized to explore the path of ASEAN common prosperity by sharing Jeju's core values and vision with key local figures in Bangkok, one of the major cities in ASEAN, highlighted Jeju's policies for economic and trade activation through future new industries. In particular, the province presented its achievements in a short period after an