Jo Seong-jin, CEO of LG Electronics, announced on March 26 that the company is seeking investment opportunities in adjacent industries, revealing plans for mergers and acquisitions.During the regular general shareholders’ meeting held at the LG Twin Towers in Yeouido, Seoul, CEO Jo stated, “After an
Bereum, a pioneering force in postbiotic, has recently inked a strategic collaboration with Hyundai Corporation Group to venture into the North American market. The contract, valued at $10 million, marks a significant milestone in the company's journey, positioning it as the sole domestic competitor
It has been revealed that the hourly wages of domestic helpers in South Korea are more than four times higher than in neighboring countries such as Hong Kong and Taiwan. In an effort to alleviate the burden of caregiving services, which is considered one of the causes of low birth rates, the Bank of
The Hyundai Research Institute (HRI) has forecasted that the South Korean economy will enter a recovery phase after passing its lowest point this year.According to a report titled “Now is an Important Time to Form an Early Economic Cycle Bottom” released by the HRI on March 3, there is a high possib
The Ministry of Science and ICT announced that it participated in the ministerial session held at the Mobile World Congress (MWC) 2024, the world’s largest mobile exhibition in Barcelona, Spain, on Feb. 27. During the event, it introduced the South Korean government’s policies regarding the safe uti
On Feb. 6, a joint research team at the Ulsan National Institute of Science and Technology (UNIST), led by Professor Lee Jae-sung, Professor Jang Ji-wook, and Professor Seok Sang-il from the Department of Energy and Chemical Engineering and Professor Lim Han-kwon from the Graduate School of Carbon N
Pernod Ricard Korea, a Korean affiliate of Pernod Ricard Group, a global liquor maker, has launched a range of elegant whisky gift sets to celebrate the Lunar New Year in 2024, the Year of the Dragon. The sets feature various product lines ranging from high-quality blended whiskies to unrivaled sing
The upcoming introduction of Alibaba Group’s B2B shopping platform “1688.com” to the domestic market has raised concerns within the domestic e-commerce industry. The sector is already grappling with the competitive pricing strategies of Chinese direct procurement platforms such as AliExpress and Tem
At the beginning of this year, the Consumer Electronics Show (CES) 2024, the world’s largest consumer electronics and IT exhibition, brought into focus the trend of “on-device AI,” or artificial intelligence operating within the device. The emergence of devices equipped with this technology is injec
Starting from April of this year, foreigners and overseas Koreans must reside in the country for at least six months to be eligible for health insurance as dependent beneficiaries.According to the National Health Insurance Service on Jan. 24, a revision to the Health Insurance Act will take effect f
A well-known Chinese automotive manufacturer is currently under investigation by South Korean law enforcement agencies for allegedly establishing a subsidiary in South Korea and illicitly acquiring domestic battery technologies from Samsung SDI and SK on, formerly SK innovation.According to industry
The public takeover bid for Hankook & Company by MBK Partners, in collaboration with Advisor Cho Hyun-sik of Hankook & Company, has fallen through.On Dec. 26, Ventura, the special purpose company (SPC) of MBK Partners Special Situation Fund (SS) No. 2, announced, “The public takeover of Hankook & Co
With Cho Hyun-sik, the advisor of Hankook & Company and the eldest son of the tire maker’s honorary chairman, preparing to take over the leadership in collaboration with MBK Partners, Cho Yang-rae, the honorary chairman of Hankook & Company, is once again offering support to Chairman Cho Hyun-bum, t
With assets totaling 10.4 trillion won (US$7.91 billion), Hankook & Company, formerly known as the Hankook Tire Group, currently ranking 40th in the business sector, has reignited a power struggle among siblings. After a slump in 2021, the management dispute between the brothers is resurfacing, mark
It has been revealed that HD Korea Shipbuilding & Offshore Engineering is poised for a large-scale order at the end of the year. Depending on the production of eco-friendly vessels, the potential order size is expected to exceed 1 trillion won.According to the shipbuilding industry on Nov. 30, it ha
The U.S. Department of the Treasury is set to announce detailed regulations on “Foreign Entities of Concern” (FEOC), which excludes some companies from electric vehicle tax incentives under the Inflation Reduction Act (IRA), on Dec. 1 (local time). The South Korean battery industry is closely monito
The acquisition battle for South Korea’s largest shipping company HMM has narrowed to a competition between Dongwon Group and Harim Group.According to investment banking (IB) sources on Nov. 23, HMM’s bondholders, including Korea Development Bank (KDB), Korea Ocean Business Corporation, and the sell
The shipbuilding industry, grappling with chronic labor shortages, is seeing signs of stabilization in its operations as the government has deployed over 14,000 personnel this year. However, concerns about technology leakage and employment uncertainty are rising, as 86% of these new recruits are for
An autonomous driving shuttle will be piloted at Incheon Airport. The airport plans to expand its use after piloting two self-driving shuttles connecting Terminal 1 and a long-term parking lot.Incheon International Airport Corporation announced on Nov. 2 that it will allow a test pilot program for a
Starting next year, foreign residents in South Korea seeking eligibility for health insurance as dependent beneficiaries must have a minimum of 6 months of residency.According to the Ministry of Health and Welfare and the National Health Insurance Service on Oct. 26, an amendment to the Health Insur