By Diplomacy Journal Lee Gil-ju Lured investors with false advertising of a NASDAQ listing... Withdrawals currently suspended - Damages estimated at hundreds of billions of won, with serious impact on ordinary citizens, including the elderly and housewives. Recently, Aifeex LTD, which lured investors with promises of high returns under the guise of an "AI-based automated fund system," has been revealed to be facing a massive redemption suspension, marking the end of a typical Ponzi scam. Aifeex operates in Korea, the United States, China, Japan, Vietnam, Singapore, and Malaysia, raising concer
By Diplomacy Journal Lee Kap-soo KB Bank Indonesia ("KBI"), a subsidiary of KB Kookmin Bank, held "KB Bank Economic Outlook 2026," a forum in Jakarta, Indonesia, on Nov. 27 to forecast Indonesia's economic and political landscape ahead of 2026. The forum was held under the theme "Navigating Indonesia's Next Growth Wave: Economic Outlook and Political Landscape 2026." Key speakers included Luhut Binsar Pandjaitan, Chairman of the National Economic Council (NEC/DEN) and Special Advisor to the President; Pandu Patria Sjahrir, Chief Investment Officer (CIO) of the Indonesian sovereign wealth fund
By Diplomacy Journal Kayla Lee The K-Folk Painting Invitational Exhibition, "Folk Painting, the Beauty of Korea," held in Minsk, Belarus, was more than just a simple exhibition. With over 6,000 local residents in attendance, it was a vivid testament to cultural diplomacy, demonstrating how the warm sensibility and artistic spirit of Korean folk painting transcends borders and permeates the hearts of a nation. Folk painting is a painting born from the everyday lives of nameless people, yet it embodies wisdom, hope, and the desire for peace. Tigers, lotuses, the sun and moon, fortune and longevi
By Diplomacy Journal Lee Kap-soo Yeungnam University hosted the "2025 Global Saemaul Undong Forum" at the Cheonma Art Center on Nov. 28. This year's forum, themed "Challenges and Directions for Global Sharing of the Saemaul Movement and Saemaul Studies," brought together experts and practitioners from around the world to share the development experiences of the Saemaul Movement and Saemaul Studies with the international community and present the university's future vision of nurturing talented individuals who will contribute to the advancement of human society. The event was graced by the pres
By Diplomacy Journal Kayla Lee Measles deaths have dropped by 88 per cent since 2000 – yet an estimated 95,000 people, mostly children, still died from the virus last year, the UN World Health Organization (WHO) warned on Nov. 28. Officials said global outbreaks are accelerating as millions of children remain under-immunized following years of COVID-19 pandemic-related disruption, according to the UN News. “Measles remains one of the most contagious respiratory viruses,” said Dr. Kate O’Brien, WHO’s Director of Immunization, Vaccines and Biologicals. “One person can infect up to 18 others. Man
By Diplomacy Journal Lee Gil-ju Jeong Kwang-yong, Director-General for African and Middle Eastern Affairs at the Ministry of Foreign Affairs, held the 8th Korea-Iran Director-General-Level Policy Consultation with Ali Asghar Mohammadi, Director-General for Asia and the Pacific Affairs at the Iranian Ministry of Foreign Affairs, in Tehran on November 30, local time, the Ministry of Foreign Affairs said. Both sides recognized the holding of the 8th Consultation, held just six months after the 7th, as a testament to the efforts of both foreign ministries to sustain friendly relations. They exchan
By Diplomacy Journal Lee Gil-ju First Vice Minister of Foreign Affairs Park Yoon-joo, currently visiting the United States, held a with Deputy Secretary of State Christopher Landau at the US Department of State on December 1 (local time), and exchanged views on follow-up measures to the ROK-US summit. This Vice-Ministerial Meeting marked the first high-level meeting between the two countries since the two leaders' mutual visits in August and October. The two Vice Ministers commended the adoption of the Joint Fact Sheet (November 14), which outlines the agreements reached between the two leader
By Diplomacy Journal Lee Kap-soo The Ministry of SMEs and Startups (MSS) with the Korea Venture Business Association hosted the 2025 Venture Billion Ceremony on 27 November, at EL Tower in Seoul. ”Venture Billion” refers to Korean venture companies that record annual revenues of at least KRW 100 billion (approximately USD 70 million). The ceremony served as a signature event on the second day of Korea’s inaugural Venture Week (November 26 – December 2), bringing national recognition to companies that achieved and maintained annual revenues of KRW 100 billion as of the end of 2024. Since the ve
By Diplomacy Journal Lee Kap-soo Park Jung-sung, Deputy Minister for Trade at the Ministry of Trade, Industry and Resources (MOTIR), met with Nazar Aziz Savzali, Deputy Minister of Industry and New Technologies of the Republic of Tajikistan, on November 24, at the Korea Trade Insurance Corporation in Seoul to discuss expanding bilateral economic cooperation in trade and investment, official development assistance (ODA), and critical mineral supply chains. The Tajik delegation also included Abdugaffor Jamolzoda, Deputy Director of the Export Agency, and Shamsullo Khairullozoda, Deputy Minister
By Diplomacy Journal Kayla Lee Hanwha Aerospace, a subsidiary of Hanwha Group, has signed a 705 billion won contract with the Defense Acquisition Program Administration (DAPA) for the mass production of the Long-range Surface-to-Air Missile (L-SAM) system, a central component of South Korea’s layered air and missile defense architecture. Under the pact, Hanwha Aerospace will manufacture and deliver L-SAM launchers and anti-ballistic missiles to the Republic of Korea Armed Forces through 2030. By adding a higher-altitude interception layer, the system enables earlier engagement of incoming ball
By Diplomacy Journal Lee Kap-soo LG Electronics signed a strategic partnership with Expo City Dubai – a city borne out of the Dubai government-backed 2020 World Expo – to collaborate on the development of a next-generation smart city on Nov. 19. The agreement was signed by William Cho, CEO of LG Electronics and Ahmed Al Khatib, Chief Development and Delivery Officer, Expo City Dubai. The partnership builds on discussions at the Korea–UAE Business Roundtable, where both governments agreed to deepen cooperation in AI-powered service development and AI infrastructure. It also further deepens LG’s