The collective net worth of Korea’s 50 Richest on the 2024 Forbes list rose slightly to US$115 billion from $106 billion, amid the country’s global chipmaking ambitions. The complete list can be found at www.forbes.com/korea, as well as in the April/May issue of Forbes Asia and the May issue of Forb
It has been revealed that the market capitalization of the domestic stock market surged by nearly 100 trillion won in the first quarter of this year.According to the corporate analysis firm Korea CXO Research Institute on April 16, the total market capitalization of 2,692 stocks, excluding preferred
Despite major property and casualty insurance companies lowering automobile insurance premiums for two consecutive years in April 2022 with a reduction ranging from 1.2 percent to 1.4 percent, and in February last year with a reduction ranging from 2.0 percent to 2.5 percent, they have recorded prof
On the night of April 13 (local time), Iran launched retaliatory attacks against Israel, employing drones, cruise missiles, and ballistic missiles. This action is expected to lead to an escalation in international oil prices. In addition, the exchange rate of the Korean won against the U.S. dollar r
A forecast suggests that the proportion of foreigners in the domestic population will reach 5.7%, based on median estimates, in 20 years. With a rapid decline anticipated in the native population, it is projected that one out of every ten working-age individuals will be a foreigner.On April 11, Stat
With China dominating the large-sized Liquid Crystal Display (LCD) panel market, it has now firmly set its sights on expanding its territory in the ultra-large TV market. This move is putting pressure on the pursuit by Samsung Electronics and LG Electronics.According to market research firm Omdia on
Kia has lowered its sales target for China by more than half in a year.At its 2024 CEO Investor Day on April 5, Kia maintained its global sales target for 2030 at 4.3 million units, the same as last year.However, the Korean carmaker has cut its China sales target by more than half (230,000 units) fr
SPC Group’s Paris Baguette will break into Latin America.According to industry sources on April 9, Paris Baguette has begun to enter the Mexican market through its U.S. subsidiary. This means that the Korean bakery giant will penetrate the Latin American market for the first time.Paris Baguette is l
HMM is set to enhance its market share on the major U.S. routes by deploying additional container ships. This strategy is part of their plan to seize a “performance turnaround” opportunity by maintaining high sea freight rates ahead of long-term freight contracts.According to the maritime industry o
In response to China’s aggressive dumping tactics, experts are advising that now is the time to refine three traditional measures: anti-dumping duties, countervailing duties, and safeguards. There is also a growing argument for bolstering barriers through measures such as limiting tax-exempt limits
Amid astronomical subsidies being poured into the semiconductor industry by countries like the United States and Japan, the South Korean government has decided to explore domestic investment incentives. There’s speculation that discussions on ‘semiconductor subsidy cash support’ could materialize, g
Thanks to the rise in TSMC’s stock price, the market capitalization gap between the Taiwanese and South Korean stock markets has widened to its largest extent in at least 21 years since 2003.According to Bloomberg, the market capitalization of the Taiwan Stock Exchange Capitalization Weighted Stock
With the recent expanding trend of Banking as a Service (BaaS), which allows consumers to experience banking services through fintech platforms, Shinhan Bank has partnered with the fintech company E9pay, specializing in small-scale overseas remittances.Shinhan Bank announced on April 17 that it has
The proportion of foreign investors in the KOSPI market has risen back to the 35 percent range. With expectations of a recovery in the semiconductor industry, a key focus of the government’s “Corporate Value-Up Program,” foreign investors are seen actively opening their wallets.According to the Kore
Lee Boo-jin, CEO of Hotel Shilla, is selling her 5,247,140 shares of Samsung Electronics through off-hours bulk trading, commonly known as block deals. The CEO has consistently been divesting stakes in Samsung Electronics and its affiliates to secure funds for hefty inheritance tax payments.Accordin
Hyundai Motor and Kia Corp. have decided to use lithium-iron phosphate (LFP) batteries produced by Indian companies in their customized electric vehicle models for the Indian market. Localizing batteries that account for 40 percent of the cost of producing electric vehicles is a way to lower prices
Samsung Electronics’ largest labor union opposed wage negotiation issues has secured the right to go on strike backed by overwhelming support in a member vote, sowing the seed of the first strike in the company’s history.On April 8, Samsung Electronics’ largest union, the Nationwide Samsung Electron
TSMC, the world’s largest foundry company based in Taiwan, is set to receive up to US$11.6 billion (15.73 trillion won) in subsidies and loan support for the construction of its plant in Arizona in the U.S.On April 8 (local time), the U.S. Department of Commerce announced a preliminary agreement to
Hyundai Engineering announced on April 3 that it has signed a business agreement with Trimble Solutions Korea to collaborate on the development of a building information model (BIM) process management program.BIM is a smart construction technology that can build two-dimensional information from pape
K-Beauty’s diversification of export products and destinations has been evident. The continued success of products like color cosmetics since last year, and a decreasing dependence on China in favor of exports to a variety of other countries, has been a notable trend.According to the Korea Customs S