SK Innovation announced at its shareholder meeting held on March 28 that it will reassess numerous businesses it has aggressively pursued so far. The company expressed its intention to focus on select ventures and concentrate its efforts.According to industry sources on March 28, SK has been conduct
The trade conflict between the U.S. and China has spilled over into the shipbuilding industry and Korean shipbuilders that compete with China for the No. 1 spot in the global shipbuilding market are expected to benefit from this situation.According to industry sources, the U.S. Trade Representative
The relationship between South Korea and Russia is reaching a desperate situation while the two countries celebrate the 34th anniversary of diplomatic relations this year.Earlier this year, an unusual incident occurred when a South Korean missionary, who was engaged in aid and missionary activities
Chinese e-commerce giant Alibaba’s AliExpress has come under fire once again, this time embroiled in controversy surrounding sexually explicit content following on issues regarding counterfeit products. Concerns have been raised over the platform’s uncontrolled search terms, advertisements, and imag
Huawei hosted the 5G Beyond Growth Summit at MWC Barcelona 2024 today. At the summit, Li Peng, Huawei's Corporate Senior Vice President and President of ICT Sales & Service discussed how carriers can achieve business success in 5G and how 5.5G will further unlock the potential of networks and create
Hyundai Motor Company is recalling about 90,000 Genesis vehicles in the United States due to the risk of engine fire.Hyundai Motor America is recalling a total of 90,907 vehicles, including the 2015-2016 Genesis, the 2017-2019 Genesis G80-G90, and some 2019 Genesis G70 cars, according to the Nationa
Korean carmakers and car importers are in a flurry of activity as the Korean Ministry of Environment laid out a plan on Feb. 6 to change subsidies for electric vehicles (EVs) in 2024. According to the revised plan, Hyundai and Kia will remain at the same level, while mid-sized Korean-based carmakers
Following the United States, South Korea has also issued a voluntary corrective action (recall) for all Tesla vehicles equipped with the Autopilot autonomous driving assistance feature.The Ministry of Land, Infrastructure and Transport of South Korea announced on Jan. 4 that they are recalling a tot
The Food and Drug Administration announced on Jan. 3 that it is currently suspending sales and recalling the Orion food company’s popular “Custard” snack after detecting food poisoning bacteria in the product. Custard is considered to be one of Orion’s signature products alongside Choco Pies.Accordi
On Jan. 2, President Yoon Suk-yeol announced, “I will push for the abolition of the Financial Investment Income Tax.” This move is expected to spark controversy as it involves the cancellation of an agreement with the opposition party.On this day, President Yoon attended the “2024 Securities and Der
Generative artificial intelligence (AI) smartphones are forecasted to lead market trends starting from 2024 with smartphone manufacturers planning to incorporate generative AI functions into their devices. Industry leaders like Samsung Electronics, with its Galaxy AI, are expected to dominate this e
Poland, on the brink of a regime change for the first time in eight years, faces concerns that defense equipment contracts signed with South Korea could be nullified following the general elections in October.According to Reuters on Dec. 10 (local time), Simon Holownia, a member of the opposition al
Activist funds pushing for better corporate governance and increased shareholder returns are expected to make many moves ahead of the annual shareholder meeting season for listed companies early next year.Major activist funds Truston Asset Management (Taekwang Industries-BYC), Align Partners Asset M
The Korean business community has been strongly opposing the Yellow Envelope Bill (an amendment to Article 2-3 of the Trade Union Act), saying it will disrupt Korea’s labor relations and industrial ecosystems. But the majority Democratic Party passed the bill in a plenary session of the National Ass
The recent revelation of illegal short selling by global investment banks (IBs) and a plunge in the stock market are fueling a debate on a total ban on short selling of all listed stocks. “We will improve all systems from scratch,” Financial Services Commission (FSC) Chairman Kim Joo-hyun said in re
In the intensifying battle of foundry services (semiconductor contract manufacturing), Taiwan’s TSMC has confidently affirmed its technological prowess.According to industry sources on Oct. 23, C.C. Wei, CEO of TSMC, responded with a firm “no” when asked during a recent conference call for the Q3 (J
The Korea International Trade Association (KITA) announced on Oct. 16 that it held a Rebuild Ukraine Business Dialogue in Warsaw, Poland, in collaboration with the Ukrainian Chamber of Commerce and Industry and the Korea-Ukraine New Building Association (KUNBA).The event was held to discuss ways to
To commemorate SK hynix’s 40th anniversary on October 10, SK hynix President and CEO Kwak Noh-Jung laid out the company’s vision. “We will transform semiconductor memory, which has generally been considered as a commodity product1, into customized specialty solutions through continued innovations,”
U.S. semiconductor company Broadcom said on Sept. 25 that it plans to file an administrative lawsuit against the Korea Fair Trade Commission (KFTC)’s decision to impose a fine on Broadcom.“We regret the decision by the KFTC,” Broadcom said in a statement, adding that it plans to appeal to the Seoul
South Korea’s battery industry is on high alert due to the potential designation of companies as “Foreign Entities of Concern” (FEOC) by the United States. If Chinese companies that supply raw materials and substances to Korean firms get listed as FEOCs, it could hinder these firms from receiving th