Insight | BusinessKorea

Monday, February 26, 2018

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Exodus from China
20 September 2017 - 11:00am
South Korean companies are withdrawing from China once regarded as the second domestic market in droves. Since the 2000s, South Korean companies have made inroads into China with a huge domestic...
LG Electronics models introduce products based on artificial intelligence technology such as smartphones, air conditioners and air purifiers at the LG Electronics booth of the IFA 2017. (photo courtesy: LG Electronics)
Team Up in AI Sector
15 September 2017 - 8:45pm
At the end of August this year, Amazon and Microsoft entered into alliance to surprise the world information technology (IT) industry. They announced a plan to link Amazon's speech recognition-based...
Semiconductors accounted for 16 percent of the country’s total exports. (photo courtesy: Samsung Electronics)
Too Much Inclined
14 September 2017 - 1:15pm
According to a report “Mythology of Semiconductor Exports and Cross-national Comparison of Export Competitiveness” released by the Korea International Trade Association (KITA) on September 13,...
The Korean government is to nurture the seaweed industry to become the nation’s future growth engine, like semiconductors.
Targeting $1 billion Export
14 September 2017 - 1:45am
The Korean government announced, on September 12, the strategy to develop the seaweed industry.  Forming a “Plan for US$1 Billion Export by 2024,” the government is to nurture the industry to become...
Creditors of Kumho Tire rejected the self-rescue plan submitted by Kumho Asiana Group chairman Park Sam-koo on September 12. (photo courtesy: Jisikbaekwa)
Vain Attempt for Long Time
13 September 2017 - 5:15pm
Amid the trouble with Kumho trademark between creditors and chairman Park Sam-koo, Kumho Tire's preferred bidder Doublestar sent an agreement for the cancellation of a stock purchase agreement (SPA)...
On September 2 (local time), US President Donald Trump said that he will discuss whether or not to scratch off the Korea-US Free Trade Agreement (FTA) beginning within the week. (image courtesy: KBS)
Amid Risk of ‘Moon Vs. Trump’
6 September 2017 - 5:15pm
There are growing concerns over the different voices of the two heads of the United States and South Korea with the North Korean threat escalating. “South Korea is finding, as I have told them, that...
Roughly 1,000 members of the Metal Labor Union under the Korean Confederation of Trade Union were holding a rally near the Blue House (presidential Office) on June 28 this year.
Bomb of Normal Wage
31 August 2017 - 8:45pm
Kia Motors fell into a crisis of bearing a one trillion won normal wage burden. On August 31, the court ruled in favor of the Kia Motors Labor Union in the first trial of its lawsuit against the...
Korea’s car production shrank nearly 10 percent to 2.16 million units this year from 2.38 million units in 2012.
Shrinking Production
31 August 2017 - 11:00am
It is likely to be not long till Korea's car production will be overtaken by that of Mexico. This is because Korea outweighed Mexico in car production only five years ago, but the gap has narrowed...
Ranking 1st in Asia
31 August 2017 - 10:30am
More than 300 exchange-traded funds (ETFs) have been listed on the domestic stock market. The Korea Exchange (KRX) announced its plan to list 500 ETF items and turn it into the global leading market...
The government determined the 429 trillion won (US$381.1 billion) budget for next year during a Cabinet meeting chaired by Prime Minister Lee Nak-yon at the Government Complex Sejong on August 29.
Record-high Budget for 1918
30 August 2017 - 1:45am
The South Korean government has raised its 2018 budget 7.1 percent from that for this year to 429 trillion won (US$381.1 billion). The Moon Jae-in administration's first proposed budget calls for...
Samsung Electronics is planning to build an open connected ecosystem that meets the needs of consumers by organically harmonizing large-scale hardware, software and services. (photo courtesy: Samsung Electronics)
‘Samsung Connect’
29 August 2017 - 2:15pm
Samsung Electronics is planning to build an open connected ecosystem that meets the needs of consumers by organically harmonizing large-scale hardware, software and services. Patrick Chomet,...
The domestic petrochemical industry hit a snag as major petrochemical companies in the US are planning to expand the annual ethylene production by 4.5 million tons.
Falling into Ambush
29 August 2017 - 10:45am
The domestic petrochemical industry, which have enjoyed a boom, hit a snag. This is because major petrochemical companies in the United States are planning to expand the annual ethylene production by...

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