Chinese e-commerce giant Alibaba Express announced a consumer protection policy on March 14 that offers unconditional returns and refunds within 90 days for cross-border online purchases. Additionally, it has officially launched a customer service hotline and plans to invest about 1.5 trillion won o
Vietnam-based airlines are emerging as dark horses, overtaking U.S. and Chinese carriers as they increase flights between major cities in Vietnam and South Korea while launching an air ticket price war.Vietnam’s largest private carrier Vietjet Air and national carrier Vietnam Airlines ranked first a
S-OIL and the Korea National Council for Social Welfare (Chairman Kim Sung-i) presented the awards to eight hero firefighters, including the Best Hero Firefighter, and a combined 90 million won in cash prizes at the 2023 Hero Firefighters Award Ceremony held at the 63 Building in Seoul. S-OIL presen
Korea Water Resources Corporation (K-water) is exploring ways to increase water-related cooperation and expand exchanges with Saudi Arabia in response to the climate crisis.Abdulaziz Muhareb Al-Shibani, deputy minister of the Saudi Arabian Ministry of Environment, Water and Agriculture, participated
L&F has decided to make a significant new investment of 2.55 trillion won (US$1.96 billion) in Daegu in response to surging global demand. This move comes as Chinese battery materials face constraints in the global market following the implementation of the Inflation Reduction Act (IRA) in the Unite
Hyundai Motor Group will apply all-solid-state batteries considered a next-generation innovative battery to its major electric vehicle models in 2030 at the latest. All-solid-state batteries have higher energy density than lithium-ion batteries currently in use, allowing for longer driving distances
Samsung SDI will display a range of electric vehicle (EV) batteries at the 2023 Korea Future Mobility Expo held at EXCO, Daegu for three days starting from Oct. 19.Centering on the PRiMX battery, Samsung SDI will showcase various EV batteries and technologies that encapsulate “unparalleled technical
The North Gyeongsang Province Government announced on Oct. 15 that a North Gyeongsang Province economic mission to the United States, including Governor Lee Chul-woo, visited the headquarters of Overair, an urban air mobility (UAM) company based in California, on Oct. 13 (local time).The economic de
Expectations are rising that South Korean electric mobility companies might counteract the rapid market penetration of cheaper Chinese alternatives by next year. Particularly, South Korean SMEs, medium-sized businesses, and startups are strategizing to differentiate themselves from Chinese products
Lotte Card employees have sparked controversy by being involved in an embezzlement case exceeding 10 billion won (US$7.55 million).The Financial Supervisory Service (FSS) announced on Aug. 29 that it had conducted an on-site inspection regarding the recent allegations of embezzlement by Lotte Card e
Problems with power loss while driving continue to plague electric vehicles from several major brands. The issues have mostly been detected in their Integrated Power Control Units (ICCU), but other causes have also been identified. Although the history of electric vehicles is still short and require
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Specialized steel pipe manufacturer Nexteel boasts sound earnings, with its raw materials cost-ASP spread widening amid strong US demand for energy pipes. Utilizing funds to be raised through
Hyundai Motor Group Chairman Chung Eui-sun has initiated efforts to secure groundbreaking technology in the battery sector. Collaborating with prominent scholars and experts in the domestic battery sector, the company aims to bolster research in next-generation batteries with a particular emphasis o
The government has designated seven specialized complexes for the nation’s advanced strategic industries such as semiconductors, secondary batteries, and displays. In addition to this, five specialized complexes for materials, parts and equipment have also been newly designated to focus on five othe
It has been 30 years since Korea began hiring foreign workers in earnest with the introduction of the Industrial Trainee System in 1993, which was replaced by the employment permit system in 2004. But chaos is still lingering in the field.According to small and medium-sized enterprises (SMEs) on Jul
Global semiconductor companies expanding their investments in South Korea have rolled up their sleeves to attract the country’s semiconductor talent. As the United States tightens its technology controls on China, global semiconductor companies have significantly increased their investments in South
Korean shipbuilding giants HD Hyundai Heavy Industries (HHI) and Hanwha Ocean will compete for an order worth 800 billion won for new-generation frigates. The shipbuilder that wins the order is expected to gain an advantage in bidding for major follow-up warship projects such as the Korea Destroyer
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Key takeaways from Daegu/Ulsan electrification factory tourThe electrification business has long since emerged as a core business of Hyundai Mobis, with sales rising from KRW1.2tr in 2017 to KRW9.7tr in
KOGAS announced on April 10 that it signed a business agreement with JERA, a global energy company with the world’s largest LNG purchasing power, as a follow-up to the Korea-Japan summit on April 7.JERA, established in 2015 as a joint venture between Japan’s Tokyo Electric Power Company and Chubu El
The Financial Supervisory Service (FSS) uncovered abnormal foreign currency remittances of more than 16 trillion won (US$12.2 billion) last year. The FSS is planning to sanction a total of 13 involved financial companies, including the top five commercial banks. The penalties are likely to include p