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New Economic Corridor to Boost Regional Trade through Laos

World Bank Economic Corridor National Road 2
National Road 2.

The World Bank’s Board of Executive Directors has authorized a USD 132 million project to boost climate-resilient transport connections and regional commerce along an east-west route in northern Laos.

K-Startup Grand Challenge 2022 is accepting applications from global startups till May 31

All-expenses paid program supports startups to do business in South Korea & Asia

SEOUL, SOUTH KOREA – Media OutReach – 20 May 2022 South Korea’s leading accelerator program K-Startup Grand Challenge (KSGC), considered ‘a gateway’ to do business in Asia, invites global startups to participate. The program’s 2022 edition started accepting applications on April 15, and the last date for the application stage is May 31, 2022. K-Startup Grand Challenge is a great opportunity for global startups looking to explore Asia’s markets for their innovative products and services. A thriving economy with the best ICT infrastructure and a highly adoptive tech-savvy consumer market makes South Korea an ideal place to begin the journey to doing a business.

South Korea has a huge market potential with a domestic market size of about US$1.63 trillion. The Korean domestic market is the 10th biggest globally, with a strong purchasing power. South Korea is one of the safest countries in the world, boasting an extremely low crime rate. Furthermore, Korea has an established patent law system so that startups can safely bring their creative ideas under government protection.

Reasons to begin a business in South Korea

Gateway to Asia: South Korea is conveniently located in East Asia between China and Japan, with Hong Kong and Taiwan to its south. Seoul, its capital, is the world’s second-largest metropolitan area, with almost half of all Korean citizens living in or around the city.

World’s best ICT Infrastructure: Korea has a highly developed ICT infrastructure, with 100% of its territory covered by LTE, and offers the world’s fastest internet speed. All generations in Korea are avid users of high-tech devices with access to high-speed internet. Korean people are active social media users. 67.5% of online shopping is done through mobile applications. The spending per buyer in e-commerce is forecasted to go from $2,600 in 2019 to $4,300 in 2024.

Test Bed Korea for the Global Market: Korea provides excellent opportunities to do consumer testing. Koreans are known to be early adopters of new technologies. They are eager to be the first to buy and the first to use newly released tech products. They have access to the latest technologies in various industries and take advantage of Korea’s world-class IT infrastructure.

Strong Government Support: The Korean government is constantly improving the country’s infrastructure. In 2017, South Korea established the Ministry of SMEs and Startups to systematically oversee various startup support projects to reinforce momentum. In 2022, the government plans to implement a startup support project worth US$3 billion to create a regional startup infrastructure and allow innovative talents with technical skills to flow into Korea’s startup ecosystem and develop their capabilities to succeed. Furthermore, the government plans to find 200 promising startups through 2022 and 1,000 promising startups, and 700 pre-unicorn startups by 2025.

Thriving Startup Infrastructure: Korea is a country that has 18 unicorn startups. Its startup ecosystem is active and well designed, attracting the attention of investors, accelerators, and incubators worldwide. According to the Startup Genome Report 2021, Seoul jumped to 16th from 20th in the world startup ecosystem ranking, with an ecosystem valued at US$47.2 billion. Venture capital investments have also poured into Korean startups and grew 78% year-on-year in 2021, surpassing 7.7 trillion won (US$6.4 billion). The number of new jobs created by startups in 2021 surpassed the number of jobs created by the four largest conglomerates in Korea combined. In recent years, many major Korean companies have expressed interest in collaborating with startups from around the world.

Strong Economy: Economically, South Korea has become the 10th largest economy and the fifth largest exporter of goods and services globally. Corporate giants Samsung and LG have become the top display makers worldwide. Hyundai and Kia combined are third in vehicle production numbers. And in July 2021, the United Nations Conference on Trade and Development (UNCTAD) upgraded Korea’s status to a developed economy. According to the Bloomberg Innovation Index, South Korea has topped the global list of the 60 most innovative countries in its latest rankings.

Top Research & Manufacturing facilities: Korea topped the charts in patent activity and put up strong performances in R&D and manufacturing. South Korea invested almost US$83 billion in R&D last year, making it the fifth-largest spender among members of the Organization for Economic Cooperation and Development (OECD). In addition, the Startup Genome Report said South Korea was the fifth-highest investor in R&D with around $94.5 billion, and its ratio of R&D spending to GDP was the second-highest in the world at 4.3%. Furthermore, the ranking of Seoul jumped to 16th from 20th in the world startup ecosystem ranking in 2021.

Korea’s Cultural Influence: Korea is a cultural powerhouse with the Korean Wave, encompassing K-pop, dramas, fashion, cosmetics, and the arts. Its culture is one of the many reasons it has become a source of fascination for Asia, the Americas, and Europe. The Korean people also have major intangible assets like passion, creative ideas, and momentum that work well with cutting-edge ICT technology and inclusive governmental support.

K-Startup Grand Challenge Program 2022

K-Startup Grand Challenge 2022 is a 3.5-month-long all-expenses-paid program held from August 1 to November 15, 2022, at the Startup Campus in Pangyo Techno Valley. KSGC 2022 is supported by the Ministry of SMEs and Startups (MSS) and organized by the National IT Industry Promotion Agency (NIPA). Sixty startups will be selected to participate in the program. Each of the 60 teams will receive $11,136 to cover living expenses for the 3.5 months. For 2022, the top ten performing teams will get monetary grants worth $320,000. Also, the top thirty startups will get further assistance to expand business in Korea through a settlement program with a supporting fee of $11,136.

The startup accelerator program, launched in 2016, supports foreign startups that want to enter the Korean market and further explore the international markets. Over the years, the program has supported startups and businesses that have succeeded in multiple fields globally like Artificial Intelligence, fintech, logistics, biotechnology, robotics, game development, IoT, e-commerce, etc.

In the past, the participating startups have come from various countries across Europe, North America, and Southeast Asia. The ultimate goal of KSGC is to promote the expansion of open entrepreneurship in Asia and assist in South Korea’s evolution as a prominent business hub in the region.

Who can apply?

  • Startups less than seven years old or Pre-entrepreneur whose representative holds a foreign nationality.
  • Promising startups with a clear objective to expand into Asia by using the Korean market as a stepping stone.

Timeline for KSGC 2022 Program

  • The application process for global startups: April 15 to May 31, 2022
  • Review by a panel of judges & global audition for top 60 teams: June 20 to 24, 2022
  • Final 60 teams selection result announcement: June 30, 2022
  • Accelerator program to be held in South Korea: August 1 to November 15, 2022
  • Demo day where the top 10 teams will get prizes: November 9 -11, 2022
  • Further settlement program for top 30 teams: January 15 to June 30, 2023

Benefits for the startups participating in KSGC at a glance

Networking and Expert support: Mentoring & information sessions, coaching on Korean and Asian business culture, and seminars on topics like patents, accounting regulations, tax laws, and more.

Financial support: Living expenses worth $11,136 and further financial assistance for top performers.

Additional Investments: The accelerators may make equity investments in promising startups. Startups may have access to other VCs and investors who may choose to invest.

Break into Asia & Corporate Partnerships: The startups can meet Korea’s top tech companies with expertise ranging from smartphones to semiconductors. Also, easy access to other Asian countries.

Korean Intern Support: A Korean intern, fluent in English/Korean, will be provided for every two teams. The intern will be a great resource for you while doing business in Korea.

Access to State-of-Art Resources: The teams get to stay and work at a global startup campus in Pangyo, strategically located in the south of Seoul. The startups get access to world-class prototyping, testing facilities, and expert support.

Administrative support & Visa acquisition: NIPA and the team of the program make sure the visa process is smooth and timely. The startups will have access to administrative support, translation service, and interpretation to make work convenient and productive while in Korea.

Korean Accelerators to assist startups’ growth

This year, five excellent Korean accelerators are waiting to assist foreign startups in growing in Korea – CNT Tech, Yozma Group Korea, Bigbang Angels, Pen Ventures, and Nautilus Investment.

CNT Tech is a tech-based global accelerator that has been part of the KSGC program six years in a row. It has a reputation for actively investing in early-stage startups in Korea. CNT Tech invested in over 70 startups in 2021, which is the country’s largest number of venture investments.

Yozma Group Korea is a global accelerating and investment company specializing in the global accelerating and cross-border investment with more than $350 million in AUM. Yozma Group’s Interest is in ICT technology-based startups in Digital twin, Mobility, and Digital Healthcare. It is looking forward to working with the visionary startups who want to explore Korean partnerships and beyond.

Bigbang Angels is a Korean early-stage VC with Singapore headquarters. The VC has invested in over 100+ AI, deep tech portfolio companies for ten years, with four successful exit cases and 3 Pre-IPO in the portfolio. It is interested in investing in global startups with IP capable of technology transfer to Korea.

PEN Ventures is a venture capital and accelerator with offices in Silicon Valley, Singapore, Europe, and South Korea. It invests in startups and connects them to all kinds of game players. The company successfully supports startups and entrepreneurs in Fintech, Cleantech, and Digital Health care to enter the Korean market.

Nautilus Investment is a global accelerator and venture capital in Korea. It focuses on cross border connection between Korea and Silicon Valley-based on the strong partnership with Nautilus Venture Partners, a Silicon Valley-based venture capital. Nautilus Investment supports startups financially through venture investment and strategically through the close networks of Big Tech companies in the US and large and mid-size Korean companies.

For further information and the application for K-Startup Grand Challenge,

Khammouane Fuel Chief Urges Residents to Reduce Travel

Fuel shortages in Khammouane Province
Mr. Vongsone Phimmavongsa, Head of the Khammouane Branch of Lao State Fuel Enterprise.

A top executive at the Khammouane Branch of the Lao State Fuel Enterprise has called on residents to conserve fuel and give priority to agricultural producers.

Indian Drama a Surprise Hit in Laos and Thailand

Gangubai Kathiawadi with her seductive gesture

Indian biographical crime drama, Gangubai Kathiawadi, has proven a surprise hit on Netflix among viewers in Thailand and Laos.

Blue Cross Launches Double Privileges to Cheer for the World No. 1

Offering 100 Free Sports Insurance Every Day and Premium Discount

HONG KONG SAR – Media OutReach – 20 May 2022 – In celebration of the outstanding achievements of fencing gold medalist and brand ambassador Edgar Cheung Ka Long, who has recently won gold medal in men’s individual foil at the FIE World Cup in Paris and has ascended his ranking to the World Number 1, Blue Cross (Asia Pacific) Insurance Co., Ltd. (“Blue Cross”) today announces to give away 100 SmartFit Sports Insurance every day, encouraging the public to live a healthy lifestyle by engaging in sport activities while enjoying protection. Besides, customers can enjoy up to 55% premium discount on designated insurance products using promo code “WORLD1” during enrolment.

From now until 1 June 2022, Blue Cross will offer free giveaway of SmartFit Sports Insurance Basic Plan (leisure sports; 1 day or 3 days covered period) to customers through its website or Blue Cross HK App. The daily quota is 100 and will be distributed on a first-come-first-served basis, and while stocks last.

Plan features of SmartFit Sports Insurance:

  • Covers over 30 types of sports and competitions, including ball games, hiking, water ski, track and field, fencing and swimming, etc
  • Comprehensive coverage including Sports Injury, Accidental Medical Expenses, Personal Liability, Damage of Personal Sports Equipment and injury or illness that happens during participation in sports activities, such as Exertional Heat Stroke, Cardiac Arrest, as well as coverage on Sudden Death due to Congenital Heart Defect
  • 3 plan levels available for selection, suitable for sports enthusiasts, amateur instructors, students and professional athletes

Besides, from now until 30 June 2022, SmartClub members who enrol in any designated plans including SmartFit Sports Insurance, HomeSafe Protection Insurance, MaidSafe Insurance, DecorationSafe Insurance and LovePet Outpatient Insurance, through Blue Cross HK App or Blue Cross website, an extra 10% premium discount will be applied by entering promo code “WORLD1”. Customers can enjoy up to 55% premium discount together with existing offer.

For more details about “Double Privileges to Cheer for the World No. 1” and the above-mentioned products, please visit Blue Cross website at www.bluecross.com.hk or download the Blue Cross HK App.

Disclaimers:

  • This press release is for distribution in Hong Kong only. The distribution of this press release is not and shall not be construed as an offer to sell or a solicitation to buy or a provision of any insurance product outside Hong Kong.
  • Blue Cross (Asia-Pacific) Insurance Limited is a subsidiary of The Bank of East Asia, Limited and a member of the BEA Group. It is not affiliated with or related in any way to Blue Cross and Blue Shield Association or any of its affiliates or licensees.

Blue Cross (Asia-Pacific) Insurance Limited

Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) is a member of The Bank of East Asia Group. With over 50 years of operational experience in the insurance industry, Blue Cross provides a comprehensive range of products and services including medical, travel and general insurance, which cater to the needs of both individual and corporate customers.

In 2021, Blue Cross was assigned a financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) by A.M. Best, a global full-service credit rating firm specialising in the financial service industry. For the latest rating, please access www.ambest.com.

#BlueCross

Laos to Redistribute Large Fleet of State Vehicles 

State vehicles were reclaimed and auctioned off in 2017.

The government of Laos is moving forward with a plan to reclaim vehicles from Party and state leaders amid a renewed push for austerity. 

Thailand Pass Remains in Place after CCSA Meeting

Thailand Pass Remains in Place after CCSA Meeting

Thailand’s Centre for Covid-19 Situation Administration (CCSA) has announced the reopening of entertainment venues, while the Thailand Pass system will remain in place.

Spackman Media Group Artist Ko Sung-hee Set To Star In Upcoming Office Comic K-Drama, GAUS ELECTRONICS

  • Spackman Media Group artist Ko Sung-hee headlines in new office comic K-drama, GAUSS ELECTRONICS
  • GAUSS ELECTRONICS is based on the Naver webtoon of the same name by Kwak Baek-soo with 2.6 billion views and shall be released in the second half of this year via Olleh TV and OTT platform, seezn
  • Represented by MSteam, a wholly-owned subsidiary of Spackman Media Group, Ko Sung-hee won the Best New Actress in the 2014 MBC Drama Awards for her role in MISS KOREA (2013) and DIARY OF A NIGHT WATCHMAN (2014)

SINGAPORE – Media OutReach – 20 May 2022 Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups founded in 2011 by media & technology investor Charles Spackman, wishes to announce that Ko Sung-hee of MSteam Entertainment Co., Ltd. (“MSteam“), a wholly-owned subsidiary of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), is set to star in upcoming office comic drama, GAUS ELECTRONICS, which is expected to be released in the second half of this year via Olleh TV and OTT platform, seezn.

Based on the Naver webtoon of the same name by Kwak Baek-soo with 2.6 billion views, GAUS ELECTRONICS tells the story of funny employees at Gaus Electronics, portraying sympathy, laughter and sorrow of their life at the company. In this office comic drama, Spackman Media Group artist Ko Sung-hee stars alongside Kwak Dong-yeon, Kang Min-ah and Bae Hyun-seong.

Previously, Ko Sung-hee of MSteam won the Best New Actress in the 2014 MBC Drama Awards for her role in MISS KOREA (2013) and DIARY OF A NIGHT WATCHMAN (2014). Her recent works include A YEAR-END MEDLEY (2021), the Korean remake of SUITS (2018) on KBS2, MY HOLO LOVE(2020) on Netflix and KINGMAKER: THE CHANGE OF DESTINY (2020) on TV Chosun. Besides Ko Sung-hee, MSteam also represents international Korean actor, Wi Ha-jun of Netflix’s original Korean series, SQUID GAME (2021), iconic Korean actress Son Ye-jin of hit romance drama CRASH LANDING ON YOU (2020), and top actress Lee Min-jung who won the Top Excellence Award at the 2020 APAN Star Awards.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit and .

Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information, please visit

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release THE GUEST in the second half of 2022 and A MAN OF REASON, with the previous working title GUARDIAN in 2022 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Wi Ha-jun, Lee Min-jung, Ko Sung-hee), SBD Entertainment Inc. (Son Suk-ku, Han Ji-hyun, Lee Cho-hee, Park Keun-rok), UAA&CO Inc. (Kim Sang-kyung, Kim Hye-ri, Kim Ji-young, Wang Ji-won), Play Content Co., Ltd. (Kang Min-ji, Hwang-hwi) and Kook Entertainment Co., Ltd. (Baek Si-won, Shin Ji-woong). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company also operates a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, please visit

#SpackmanEntertainmentGroup