The number of affiliates belonging to Korea’s conglomerates crossed 3,000 for the first time in 2023. The increase is the result of business diversification in response to an unstable global business environment, but the increase has generated many negative side effects.As of May 2023, the number of
Japanese NAND flash semiconductor manufacturer Kioxia is reportedly reigniting merger plans with Western Digital (WD), but SK hynix remains steadfast in its opposition.According to industry sources on April 18, including reports from the Yomiuri Shimbun, Kioxia may pursue a listing on the Tokyo Stoc
South Korean fashion company ShinWon Corporation (CEO: JJ Park) held an ESG Management Vision Declaration Ceremony to establish a mid-to long-term plan for ESG (environmental, social, and governance) and advance as a sustainable company.Through the declaration ceremony, ShinWon aims to publicly anno
South Korean fashion company ShinWon Corporation (CEO: JJ Park) is conducting the global campaign #WithUs to commemorate International Women’s Day.Every year on March 8th, designated by the United Nations (UN) in 1975, is International Women's Day. Celebrating its 116th year this year, International
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
The first meeting of the Korea-Netherlands Semiconductor Dialogue kicked off in Eindhoven, the Netherlands, on Feb. 19 (local time). The Korean and Dutch governments agreed to hold the meeting during President Yoon Suk-yeol’s state visit to the Netherlands in December 2023. The ministries in charge
The Ministry of Trade, Industry, and Energy revealed on Jan. 6 that last year a total of 23 cases of overseas leakage of industrial technology, including “national core technologies,” were detected, marking an increase of 3 cases from the previous year. The government designates as national core tec
HMM held a naming ceremony for the HMM Garnet, a 13,000 TEU container ship, on Jan. 24.The HMM Garnet, built to enhance HMM’s eco-friendly competitiveness and diversify its fleet, is the first delivered vessel of the 12 13,000 TEU container ships in contracts signed with HD Hyundai Heavy Industries
The Ministry of Trade, Industry and Energy plans to inject 100 billion won into companies in advanced strategic industries and key supply chain sectors that are returning (U-turn) to Korea this year. This marks a 75% increase from the previous year. The corporate tax reduction period will be extende
SK telecom announced on Jan. 16th the commercial application of its Deep Network AI (DNA) solution to operational networks. This AI-powered technology enables precise analysis of network conditions in three-dimensional environments.Traditional network analysis, mostly based on two-dimensional outdoo
LG Electronics continued its strong performance in 2023, setting new records in sales for the third consecutive year and achieving significant growth. Notably, in the fourth quarter of 2023, its operating profit surged by an impressive 350.9% compared to the same period last year, demonstrating soli
The average wages of employees belonging to the “Big 3” shipyards in South Korea -- HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean -- have increased by approximately 15% in the past year. Particularly noteworthy is Hanwha Ocean, where the average wage surged by around 12 mil
On Sept. 19, a commemorative event was held at the Samsung Fire & Marine Insurance Guide Dog School in Yongin, Gyeonggi Province, celebrating the guide dog program that the late Lee Kun-hee, former Chairman of Samsung, had dedicated himself to for 30 years following his “New Management Declaration”
The Korea Atomic Energy Research Institute (KAERI) announced on Sept. 14 that it has developed a process to mass-produce bentonite, a high-quality material used to dispose of spent nuclear fuel. “If this material is supplied domestically through a localized process, it will save the Korean economy a
According to industry sources on Sept. 7, wage negotiations between Samsung Electronics and its union have been on hold since April 21, prolonging the cooling-off period.Other electronics affiliates within the group, such as Samsung Display and Samsung Electro-Mechanics, concluded their wage negotia
The “Nujio’qonik” project, in which SK ecoplant plays a vital role, has achieved a significant milestone in its total three phases, valued at 15 Billion USD project. The project has successfully secured sites for wind power generation required for its three phases, building upon the ongoing activiti
CHIVAS, a representative global blended whisky of Global wine and Spirit company Pernod Ricard Korea, introduced limited-edition sets in a special collaboration with Musician Simon Dominic, who represents the domestic hip-hop scene.Simon Dominic is a rapper belonging to the hip-hop and R&B label AOM
China has launched counterattacks against U.S. economic restrictions on the Chinese market. The counterattacks include three measures implemented last month and this month.“As the U.S.-China conflict escalates and China announced legislative initiatives and export control measures to secure economic
Nvidia, which leads the global artificial intelligence (AI) chip market, is expected to introduce a new advanced graphics processing unit (GPU) that will boost AI performance, fueling the expansion of the advanced memory chip market led mainly by Korean companies. SK hynix and Samsung will be able t
Korea Development Bank (KDB), which has been pushing for the merger of Korean Air and Asiana Airlines, has started reviewing alternatives such as the sale to a third party, assuming the failure of the merger process. This move is interpreted as the initiation of “Plan B” after the merger between the