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Many Korean manufacturers are anticipating changes to global value chains as COVID-19 continues to impact businesses worldwide. A new survey by the Korea Chamber of Commerce and Industry (KCCI) found that 41.7% of companies are experiencing changes in their value chains and 27.3% are expecting future changes. Seventy two percent of respondents attributed...

Samsung Electronics has reclaimed its number one position in the global smartphone market according to an August report by Counterpoint Research. Samsung accounts for 22% of the global smartphone market followed by Huawei and Apple's respective market shares of 16% and 12%. In April, Huawei claimed the top position before COVID-19 lockdowns and...

Earlier this week, Australia’s Ambassador to Korea H.E. Mr James Choi and Korea’s First Vice Minister of Foreign Affairs Dr Jong-kun Choi discussed enhancing Australia-Korea cooperation. Two key cooperation opportunities identified were vaccine development and hydrogen. Both countries are currently members of a consultative ‘Friends’ group to the COVAX Facility initiative, which aims...

The National Gallery of Victoria (NGV) has acquired the “hero piece” of its Korean collection – a rare, 18th century moon jar. The moon jar embodies the minimalist aesthetic which is central to Korean contemporary and historical art, according to Wayne Crothers, Senior Curator of Asian Art at the NGV. Mr Crothers said “the...

Happy Chuseok! 추석 잘 보내세요! AKBC wishes everyone a happy and safe Chuseok holiday period. If you have Korean clients or colleagues, be sure to wish them a happy Chuseok holiday period. Chuseok is one of the key Korean holidays, celebrated on the 15th day of the 8th month according to the...

Today marks the beginning of Korea’s public holiday for the Chuseok harvest festival and the first major holiday during the pandemic. Although Korea’s daily COVID-19 cases have been stabilising, authorities are concerned that travel during Chuseok could spark new outbreaks nationwide. Traditionally, families gather together to give thanks to their ancestors...

Hyundai’s new hydrogen-powered forklifts demonstrate its hydrogen-fuel cell systems have many possible applications apart from cars and trucks. The medium-sized forklifts are designed to lift five tonnes and operate continuously for five hours after a single charge. In 2021, they will be tested in a demonstration project and Hyundai expects to...

Korean technology will help distinguish Australian company Pacific Blue Health‘s new probiotic product range, Elementelle Probiotics+, from alternative products on the market. Supported by Korean pharmaceutical giant Chong Kun Dang Holdings (CKD), the four Australian-made products are designed to improve gut health by using clinically trialled and patented probiotics. Pacific Blue Health...

The Australia-Korea Business Council (AKBC), together with our counterpart in Korea, the Korea-Australia Business Council (KABC), is pleased to announce the 41st AKBC-KABC Joint Meeting will be held virtually on Tuesday 24 November 2020 from 11.00AM - 1.00PM AEDT I 9.00AM – 11.00AM KST, featuring the very latest developments in...

Despite COVID-19 affecting food services, Korea has become the largest export customer for Australian tenderloins. From May-August 2020, there was a 53% increase in the number of orders compared to 2019. Meat & Livestock Australia Country Manager, Charlie Ko, stated that almost 80% of tenderloins sales have been through retail, e-commerce retail and...