Multinational delivery company UPS Korea recently announced that it has cut the delivery time between Korea and Qingdao, China, to one day from the previous two to three days.

　　UPS said the reduced delivery time would help raise the competitiveness of local firms doing busines s in Qingdao and also make possible quicker and safer delivery of Korean goods to the Chinese coastal city. Qingdao has the greatest concentration of Korean companies operating in China.

　　Citigroup acquired KorAm, the nation's seventh-largest bank, earlier this year in the biggest foreign investment ever made in Korea.

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