Samsung Electronics has regained the top spot in global smartphone sales from Apple after five months, thanks to the successful launch of the world’s first AI phone, the Galaxy S24 series, which received favorable reviews in the North American market. The latest increase in sales volumes of new fold
Korea’s government, National Assembly and courts are pushing to raise the level of punishments for technology leakage as key personnel of companies involved in Korea’s national high-tech strategic industries are frequently leaking out along with their technology. National high-tech strategic industr
The government has extended its support to companies starting businesses overseas, aiming to increase the number of successful Korean startups in the global market. The Ministry of SMEs and Startups announced that amendments to the “Act on Support for Small and Medium Enterprise Establishment” and i
In relation to the crash of the Marineon (MUH-1) utility helicopter in 2018, which resulted in the death of five individuals, Korea Aerospace Industries Ltd. (KAI) has been ordered by the court to compensate the state over 1.4 billion won. This first-instance verdict came after the state filed a law
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
GS E&C’s business license has been suspended for eight months for the collapse of an underground parking lot that occurred in 2023. A lot of attention is now being paid to whether its business operations will be affected by the suspension.According to sources in the construction industry on Feb. 2,
FILA Holdings announced a new leadership structure on Jan. 8, naming FILA USA President Todd Klein to take on the newly created role of Global Brand President. Klein will report to FILA Holdings and join the board of FILA Luxembourg, a wholly owned subsidiary of FILA Holdings that oversees FILA’s gl
In a collective lawsuit related to suspicions of intentional performance degradation of the Apple iPhone smartphone in the United States, some domestic consumers have won a partial victory.On Dec. 6, the 12-3 Civil Division of the Seoul High Court ruled in favor of seven consumers in the appeal tria
The Ministry of Food and Drug Safety announced on Nov. 29 that it will proceed with the revocation of the Good Manufacturing Practice (GMP) certification for large-scale dosage forms of solid oral preparations (tablets and capsules) of HUTECS Korea Pharmaceutical.During an on-site inspection by the
Dyson recently announced on Nov. 22 that it would resolve ongoing after-sales service (AS) delays for its hairdryer products in South Korea by the end of this month in response to increasing complaints from Korean consumers. The company also promised to introduce free repairs within 72 hours.Through
The Financial Supervisory Service (FSS) has taken a proactive stance in a full-scale confrontation with short-selling forces, revealing that it has detected 33 cases of naked short selling this year and imposed fines and penalties amounting to 10.5 billion won (US$8.11 million). FSS Governor Lee Bok
With the financial authorities deciding to implement a complete ban on short selling by the first half of next year, the South Korean stock market experienced a historic surge on Nov. 6. Secondary battery companies, which had been the primary targets of short sellers, all showed a significant increa
The financial authorities have played a strong hand with a “full prohibition of short selling” to restore market trust. Unlike the global trend during the COVID-19 crisis, this time, South Korea alone has moved to prohibit short selling, drawing significant attention to the rationale behind this dec
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
Former Kakao Chairman Kim Beom-soo appeared before the Financial Supervisory Service (FSS) in connection with allegations of market manipulation involving SM Entertainment stock prices.The FSS’ Capital Market Special Judicial Police have notified former Chairman Kim to attend the FSS as a suspect by
The Financial Supervisory Service (FSS) has uncovered common illegal short selling practices by a global investment bank (IB) for the first time.According to the announcement from the FSS on Oct. 15, a Hong Kong-based global IB, hereinafter referred to as Company A, submitted short selling orders wi
Samsung Electronics, which has begun substantial cutbacks in its NAND flash division in the latter half of this year, is reportedly planning a double-digit price increase as early as this month. All eyes are on how the pricing move by Samsung, a dominant player in the market, will affect other compe
Tensions and conflicts are intensifying in the “semiconductor war” between the U.S. and China. As the first anniversary approaches of the U.S. government’s decision to restrict exports of semiconductor chips and equipment to China on Oct. 7 of last year, an update on policies regarding “Artificial I
The Financial Supervisory Service (FSS) has called on foreign securities firms to make self-cleaning efforts to eradicate recurring illegal naked short selling. This means that the FSS has urged the foreign securities firms to learn how Korea’s regulations differ from international practices and to
The Financial Supervisory Service (FSS) has responded to the complex issue surrounding the accounting treatment of Contractual Service Margins (CSM), which is considered a future revenue indicator under the new insurance accounting standard, IFRS 17. Given the initial apprehensions about potential e