While major countries such as the United States, Japan, and the European Union (EU) are rushing to provide subsidies for semiconductors, there are growing voices that Korea will lose the global semiconductor war if it does not subsidize Korean companies such as Samsung Electronics and SK hynix, citi
Kumho Tire has achieved a series of excellent results in a tire performance test conducted by ADAC, a world-class automotive magazine published in Germany.In the summer tire performance test organized by ADAC Magazine, which has a 120-year history and the largest circulation in Germany, Kumho Tire’s
The Korea Fair Trade Commission (KFTC) has decided to review the designation of dominant business entities, which is at the core of the Fair Competition Promotion Act (the Platform Act for short). This means that virtually, the Korean market watchdog will review the designation from scratch. Industr
Alibaba’s international service, AliExpress, has been attracting Korean brands with a ‘zero commission’ policy, potentially disrupting the domestic e-commerce market dominated by Coupang and Naver Shopping.According to the retail industry on Jan. 30, AliExpress is waiving commission fees for Korean
McKinsey introduced the content of its report, “Koreas Next S-Curve,” to international media outlets at Shilla Hotel in Seoul on Oct. 19. In the report, the company proposed three pillars of reorganization, transformation, and construction and eight action items for Korea’s economic renaissance.McKi
The Institute for Economics and Peace (IEP) announced that Iceland was selected as the safest and most peaceful country in the world with a score of 1.124 in the Global Peace Index (GPI), according to the New York Post on Oct. 1.The GPI quantifies peace by aggregating 23 items including social, poli
The Korea Fair Trade Commission (KFTC) has punished U.S. semiconductor company Broadcom for allegedly forcing Samsung Electronics to sign a long-term contract to purchase parts for smartphones.The Korean market watchdog announced on Sept. 21 that it has decided to slap a fine of 19.1 billion won (US
The European Union’s (EU) criticism of China’s electric car subsidies has led to speculation that the friction between the EU and China might result in reinforced protectionist measures, potentially disrupting the product and raw material supply chains.The tension between the EU and China commenced
With the increasing utilization of renewable energy sources such as solar and wind power, which generate varying outputs depending on weather conditions, the frequency of “curtailment,” which means generating less power than planned, in nuclear power generation has risen fourfold compared to two yea
Superconductors, materials that suffer no energy loss due to electrical resistance, have traditionally been limited to novel technologies such as maglev trains. It was challenging to make superconductor technology economically viable.However, recent research by South Korean teams implementing superc
Vietnamese authorities have initiated an investigation into the concert organizers of the girl group Blackpink’s world tour, which is set to stop by Hanoi on July 29. The investigation was prompted by suspicions raised over a map posted on the organizer’s website that showed a line similar to the “N
For the third year in a row, the Korea Fair Trade Commission (KFTC) has failed to reach a conclusion on whether foreigners can be designated as head of a business group (the “same person” under the Fair Trade Act). The “foreign head of a Korean business group” controversy has been continuing for thr
Foreign workers who enter the country on non-specialist (E-9) visas should be prohibited from changing their assigned workplaces for a certain period of time, said Noh Min-sun, a researcher at the Korea Small and Medium Enterprise Institute, at a policy discussion on foreign workers for Korean SMEs
The petrochemical industry is struggling to recover, scrambling to secure growth drivers in specialty areas. In response to China’s expansion of its self-sufficiency rate, they are trying to secure market competitiveness by focusing on high-value-added products. In particular, they are actively fost
HD Korea Shipbuilding & Offshore Engineering (KSOE) landed orders for 12 gas carriers worth 2.79 trillion won (US$2.11 billion) over the past three days.HD KSOE announced that it signed a 2.42 trillion won (US$1.83 billion) contract to build eight vessels including two 200,000 cubic meter liquefied
With Saudi Arabia expected to start placing orders related to the Neom City project in 2023, Chinese President Xi Jinping is embarking on a trip to Saudi Arabia on Dec. 7.China's participation will heat up the competition to win multibillion dollar orders. Currently, the Saudi Arabian government
South Korean enterprises are expanding cooperation with Southeast Asia with the United States increasingly internalizing supply chains in various industries.In Indonesia, POSCO Group is working with multiple local enterprises in the sectors including steel, construction and EV battery material devel
Samsung Electronics will take the wraps off a washing machine that reduces microplastics at IFA 2022, which will kick off in Berlin, Germany on Sept. 2.The company developed the new washing course in collaboration with Patagonia, an American retailer of outdoor clothing, using EcoBubble technology t
Friction continues to grow within the Hyundai Motor Group labor union over the core agenda of collective bargaining for 2022. As production workers of the labor union took the initiative in setting the bargaining agenda, young non-production workers, including those at the group’s research labs, are
The Ministry of Land, Infrastructure and Transport said on April 14 that 54,390 vehicles of 13 brands manufactured or imported by seven companies will be recalled for defects.The seven automakers are Ford Sales Service Korea, Hyundai Motor Co., Honda Korea, Tesla Korea, Jaguar Land Rover Korea, Volk