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Industry Ministry says S. Korea’s joining in IPEF is to resolve supply chain issues South Korean Ministry of Industry explained the reason why Korea is pushing for joining in the Indo-Pacific Economic Framework (IPEF) is continued global supply chain issues caused by Covid-19 pandemic. “After the COVID-19 pandemic, the global logistics industry put more value on ‘resilience’ than ‘efficiency,’” said the industry ministry said on the 19th. “South Korea will join the IPEF to strengthen the resilience to flexibly respond to climate change, supply chain risks, and pandemic.”It continued, “If we join the IPEF, it will be enable to build a comprehensive regional economic c 05월 20일 09시 05분

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India's forex reserves dip by $9.64 billion, the biggest drop in 2 years India's foreign exchange (forex) reserves declined by $9.646 billion to $622.275 billion in the week ended March 11, the sharpest decline in nearly two years, as the Reserve Bank of India (RBI) heavily sold dollars to prevent the slide in the value of rupee.According to the RBI's weekly statistical supplement, the foreign currency assets, which is the biggest component of the forex reserves, slumped by $11.108 billion to $554.359 billion during the week under review. Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-dollar curre 03월 21일 09시 03분

India-Russia oil trade: what is at stake? In order to shield the economy from the negative impact of the recent surge in crude oil prices, India is exploring the possibility of importing additional oil at discounted rates from Russia, which is facing sanctions and global backlash due to the Ukraine conflict.According to commodities data and analytics firm Kpler, India's import of crude oil from Russia in March this year so far is nearly four times higher when compared with the corresponding period of last year. India's import of crude oil from Russia stood at around an average of nearly 360,000 barrels a day in the first half of this 03월 21일 09시 03분

SZ’s exports still rank first in China SHENZHEN’S exports of goods reached 1.92 trillion yuan (US$302 billion) in 2021, up 13.5 percent year on year, ranking first among major Chinese cities for the 29th consecutive year, statistics released by Shenzhen Customs showed yesterday. Total foreign trade including imports reached 3.54 trillion yuan, up 16.2 percent year on year. Data showed that imports climbed up 19.5 percent to 1.62 trillion yuan. In December, the city’s foreign trade reached 385.6 billion yuan, up 25.8 percent, a single month record since April 2013 and showed positive growth for 14 months straight. New records have 01월 21일 10시 01분

LG Chem to build world’s largest cathode material production plant In order to target the rapidly growing battery material market, LG Chem and Gumi local government agreed to build the world's largest cathode material production plant in Gumi. LG Chem announced on the 11th that it held a groundbreaking ceremony for the Gumi cathode material production plant, which will be applied with Gumi city’s job model, at the Gumi Convention Center located in Gumi, Gyeongsangbuk-do.At the event, President Moon Jae-in, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki, Minister of Trade, Industry and Energy Moon Seung-wook, Minister of Employment and 01월 12일 09시 01분

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