In the global competitive race for artificial intelligence (AI) technology, South Korea is losing its core competitive edge as top talent is turning away from the country. Foreign companies, with their overwhelming financial power, are successfully attracting these skilled individuals.According to t
After enduring difficulties in the first quarter, major Korean entertainment companies have been aggressively marketing themselves. They are also changing their consumer bases, shifting from a profit structure that relies on core fans to target light fans, those who consume music lightly.According t
“Predictability is what matters most for global companies,” said James Kim, chairman of the American Chamber of Commerce in South Korea (AMCHAM). “With an exodus out of China becoming a reality, we are receiving an influx of many inquiries from companies looking to move their Asia-Pacific headquarte
Big South Korean companies are exiting China one after another. Business uncertainties are being fueled by fiercer competition and declining profitability in the Chinese market coupled with the U.S. government’s checks on China and policy changes by Chinese government authorities.Lotte Chemical sold
President Yoon Seok-yeol has announced a prohibition on short selling until fundamental reform measures are established.During his address at the Cabinet meeting held at the Blue House in Yongsan on Nov. 14, President Yoon Seok-yeol stated, “To prevent further damage, we will prohibit short selling
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 KOSPI index has fluctuated amid consecutive adverse developments, returning to its January levels. Compared to the annual high of 2,667.07 on Aug. 1, it has declined by 13.7 percent.On Oct. 26, the KOSPI index closed at 2,299.08, marking a 2.17 percent decline, while the KOSDAQ index concluded a
An ironic situation unfolds as foreign investors are rapidly withdrawing their investments from the domestic stock market, while the foreign ownership percentage of the total market capitalization on the KOSPI hits a 20-month high.According to the Korea Exchange on Oct. 22, the foreign ownership rat
Korean battery companies breathed a sigh of relief after examining the detailed guidelines of the IRA released by the U.S. Treasury Department on March 31 (local time). This is because according to the guidelines, they will be able to continue their current processes and still receive subsidies unde
The Federation of Korean Industries announced on Jan. 24 that the number of manufacturing workers in South Korea was 4.43 million at the end of 2019 and decreased by 180,000 or so from the end of 2015 to that day.“The number decreased 3.9 percent due to manufacturing facility relocation, an overall
The U.S. government canceled the special status of Hong Kong. Its relay trade function and financial hub position, which are the two pillars of its economy, are likely to be seriously affected and foreign enterprises and funds may escape from the city without trade privileges. Hong Kong is a global
South Korean companies are in deep worry as the U.S. government is pressuring the South Korean government to participate in an economic bloc aimed at isolating China.Keith Krach, undersecretary of state for economic growth, energy, and the environment said on Wednesday that he and South Korean offic
South Korea’s overseas direct investment reached a new high in the second quarter of this year, continuing to increase for the fifth consecutive quarter. In particular, large corporations’ investment in the Chinese semiconductor and electronic equipment sectors soared in the wake of Japan’s semicond
Concern is growing among domestic financial industry officials as the Japanese government may target the Korean financial market following restrictions on exports of semiconductor core materials to Korea and the exclusion of Korea from its whitelist of countries eligible for preferential treatment i
As the Moon Jae-in government raised the maximum corporate tax rate from 24.2 percent to 27.5 percent, domestic investment has shrunk by approximately 20 trillion won (US$16.77 billion).The hike in corporate tax rates is the main factor in the country’s decline in employment and household income and
Chinese electric bus suppliers and steelmakers are increasing their presence in South Korea. For example, Tsingshan Iron & Steel recently submitted a letter of intent to Busan City to build a stainless steel manufacturing plant. The Chinese company is currently the world’s largest stainless steel ma
Although the South Korean government has an ambitious plan to make the nation an international financial hub, another foreign bank is closing down its business in Korea this year. Starting with the shutdown of Goldman Sachs’ branch in 2017, Royal Bank of Scotland (RBS), Banco Bilbao Vizcaya Argentar
South Korean companies’ foreign direct investment (FDI) hit an all-time high of US$14.11 billion in the first quarter of this year with a year-on-year growth of 44.9 percent, the highest since Q1, 2017, the Ministry of Economy and Finance announced on June.The manufacturing sector’s FDI reached a re
Despite growing demand for polysilicon, leading Korean solar panel manufacturers including OCI and Hanwha Chemical have announced their intention to reduce or give up domestic production due to an increase in electricity charges. Industry analysts say that these companies are weighed down by a gradu
South Korean banks in China have initiated full-scale risk management processes with South Korean companies in China scaling down their business in the country.The Financial Supervisory Service announced on March 20 that South Korean banks increased their assets in China by only 0.2 percent to US$26