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2022's top finance and business news

The year 2022 had its ups and downs. Steeply rising interest rates caused turmoil in the financial markets, while the successful launch of the nation s first homegrown space rocket boosted hopes that Korea will join the world s space powers in the near future. Here are the top 10 news in business and finance that made headlines in 2022. ....

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Business tycoons to 'find answers' at World Economic Forum, CES

Heads of the nation s largest conglomerates are expected to attend the World Economic Forum (WEF) from Jan. 16 to 20 next year in Davos, Switzerland, to talk with global leaders about countermeasures against inflation, supply chain crises and geopolitical issues, according to industry officials, Monday. They are also said to be promoting Busan to the forum s participants, so that Korea s second-largest city will be selected by members of the Bureau International des Expositions (BIE) next November as the venue to host World Expo 2030. ....

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Neom vs. Expo: Saudi crown prince puts Korean firms in dilemma

Busan s bid to defeat the Saudi Arabian capital of Riyadh to host World Expo 2030 could lose momentum, after Crown Prince and Prime Minister Mohammed bin Salman Al Saud promised lucrative business opportunities for Korean companies during his day-long stay in Seoul last week, according to industry officials, Tuesday. The 37-year-old crown prince visited Korea just a year before Bureau International des Expositions (BIE) members vote to choose the venue for one of the world s largest international events. Korean firms signed 26 memorandums of understanding (MOUs) ― collectively worth $29 billion ― with the Saudi government, institutions and companies. ....

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Lotte chairman unseen during Saudi crown prince's stay in Seoul

Lotte Group Chairman Shin Dong-bin was not seen during Saudi Crown Prince Mohammed bin Salman Al Saud s luxurious day-long stay at Lotte Hotel in downtown Seoul, where he met with Korean business tycoons on Thursday evening at the executive suite which costs 22 million won ($17,000) per night. Even before the de facto leader of Saudi Arabia came to Korea, there were rumors that the chairmen of Lotte and LG groups were not invited to the crown prince s meeting. ....

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Chaebol chiefs meet Saudi crown prince to seek lucrative deals in oil-rich nation

With Saudi Crown Prince Mohammed bin Salman Al Saud visiting Korea, Thursday, the stock prices of local corporations in various sectors saw an upward trend during the day s trading. ....

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