South Korea

After Rafale Jets, India Quietly Working With France To Acquire Stealth Submarines In A Multi-Billion Dollar Deal

The bilateral ties between India and France have seen a major boost in recent years. Following the landmark Rafale deal, New Delhi is now set to acquire new submarines from the French shipbuilder Naval Group. Citing a source, a Nikkei Asia report said that the French shipbuilder will make an offer in line with the ‘Make in India’ initiative for a proposal ...

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Yanolja with newfound growth potential seeks stock listing in 2021

Yanolja founder and CEO Lee Su-jin / Courtesy of Yanolja Yanolja, the fast-growing operator of a travel and lodgings service platform here, is planning for a stock listing from scratch, in a revised strategy seeking a proper corporate valuation due to its rising growth potential as seen by a combined $180 million (213 billion won) investment by the Singaporean sovereign ...

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Incheon International Airport retenders thwarted Terminal 1 duty free concessions

SOUTH KOREA. Incheon International Airport Corporation (IIAC) announced a new RFP for duty free concessions at Terminal 1 on 23 September – just one day after drawing blanks on the same tender, writes The Moodie Davitt Report Senior Retail and Commercial Analyst Min Yong Jung*. The retendered stores at Incheon International Airport (DF2, DF3, DF4, DF6, DF8, DF9) failed to receive more than the two bids ...

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Hydrogen to follow gas expansion as Morrison bids for net zero emissions

A national bet on hydrogen power will be central to a new federal energy road map to move away from fossil fuels, as Prime Minister Scott Morrison promises a plan to achieve net zero carbon emissions. The technology road map will be aimed at creating a clean energy industry that can ship hydrogen to customers such as Japan and South ...

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LG Electronics Retains WPP After Remote Global PR Review

WPP’s LG-One unit has extended its 11-year global PR relationship with the Korean electronics giant, worth as much as $15m. SEOUL — LG Electronics has retained WPP’s LG-One unit to handle global PR duties, PRovoke can reveal, following a multi-market review that was conducted remotely over recent months. The decision extends the LG-One relationship that has been in place since the WPP ...

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[RFP] POBA seeks two global fixed-income managers for $350 mn mandate

South Korea’s Public Officials Benefit Association (POBA) plans to allocate a combined $350 million to two global fixed-income investment companies, in what would be its biggest mandate awarded for the strategy in recent years. The $12 billion retirement fund for local government employees will receive proposals via Hanwha Asset Management by 2 pm, August 28 (Seoul local time), according to its ...

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South Korea to provide $50m to Bangladesh to tackle Covid-19 fallout

A highly credible source at the Economic Relations Division (ERD) confirmed this to Dhaka Tribune South Korea will provide Bangladesh $50 million in a flexible loan as budget support to combat the economic fallout of the Covid-19 pandemic. A highly credible source at the Economic Relations Division (ERD) confirmed this to Dhaka Tribune.  The ERD has sent a letter to ...

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Whistleblower Complaint Leads to Possible $2 Million Penalty for South Korean Defense Contractor

A lawsuit filed by a whistleblower under the qui tam provisions of the False Claims Act may result in a $2 million payout to the U.S. government by a South Korean company for conspiring to rig bids for Defense Department contracts. The Department of Justice filed a complaint in civil court on April 8 laying out the charges against the Jier Shin Korea Company and its ...

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