The Republic of Korea is one of Romania's important commercial and economic partner in South-Eastern Asia. The dynamics of commercial exchanges in 2023, especially exports, indicates a growing interest of Romanian companies in this market, said Iuliu Stocklosa, the president of Bucharest Chamber of Trade and Industry (CCIB). According to a CCIB press release, issued on Tuesday, Stocklosa met Min Seok Ko, Romania's honorary consul in Incheon, Korea, on his first visit in Romania, following his recent appointment in this position. “With a population of over 3 million inhabitants, the metropolitan city of Incheon is located in the north-western part of the country, neighboring Gyeonggi province and the capital city of Seoul. It is known as the main entrance point in the Republic of Korea because of Incheon international airport (the largest in the country) and Incheon port (the second largest after Busan). Incheon Free Zone has developed continuously lately, the big Korean companies (Samsung, LG, SK, etc) deciding to open production facilities in that area”, the press release shows. The honorary consul Ko said the aim of the visit was to prospect the Romanian market, being interested in identifying business opportunities especially in tourism, IC&C, electronic equipment, textiles, fod and wine. He intends to return to Romania in October or November with an economic mission including eight companies from Incheon area. On November 30, 2023, bilateral commercial exchanges reached 1.1 billion dollars, 2.5% over the level recorded in the same period of 2022. Romanian deliveries recorded 0.51 billion dollars (+27.3%), while imports from South Korea amounted to 590 million dollars (- 12.2%). According to the National Office of Trade Registrar (ONRC), on December 31, 2023, 288 companies with South Korean capital were registered with a social capital of 123.6 million dollars, 0.19% of all foreign investments, situating South Korea 30th among states investing in Romania.
Romania will set up and operate its first fish farms in the Black Sea this year, as announced by environment minister Mircea Fechet, with certain areas already assigned for future farms. Investments are long overdue, as discussions about fish farms in the Black Sea have been ongoing for decades in Romania, while similar investments have […]
Monica Tamaș has been appointed general manager of Unilever Romania and Moldova beginning January 2025. She will oversee the local strategy and investment initiatives "aimed at optimizing Unilever's performance within the Home Care, Beauty and Personal Care, and Nutrition sectors across Romania and Moldova." Tamaș joined Unilever Romania in 2013, following roles in leading FMCG […]
A recent scientific paper published in the Nature Communications journal revealed evidence of “hominin activity” dating back at least 1.95 million years in Romania. The result marks the oldest proof of human activity in Europe, predating that found in Georgia, set at 1.8 million years. The findings were built based on a thesis proposed in […]
Romania's Electromontaj signed a 10-year partnership with TenneT BV, the electricity transmission operator in the Netherlands. The collaboration, which includes the participation of three other international companies, will see the construction of 400 km of new high-voltage lines and the modernization of 600 km of existing lines, with a total project value of EUR 1.75 […]
APTIQ Global announces the affiliation of the Turkish firm CLK Consultancy under the APTIQ Tax brand, which means a strategic expansion into the Turkish market, while fostering growth and delivering exceptional value to their clients across Turkey, Germany, France, Switzerland, Austria, Ireland, Italy, Spain, Romania, Poland, the Czech Republic and Slovakia. As part of their […]
Prosecutors from Romania's National Anticorruption Directorate (DNA) carried out searches at the Sinaia City Hall and the residence of mayor Vlad Oprea on Wednesday morning, January 22, in connection with an investigation into multiple corruption charges, according to judicial sources quoted by the media. Sources told local news agency Agerpres...
