As POSCO Holdings announced its first quarterly earnings under new Chairman Jang In-hwa, control of business development speeds by business division has become a hot topic.The company has set an investment budget of about 10.8 trillion won for this year, but the amount is likely to be reduced. The p
Lotte Group has sold “Lotte World Adventure Shenyang” in China. It marks over seven years since construction was halted at the end of 2016 due to China’s retaliation over the deployment of the Terminal High Altitude Area Defense (THAAD) system. Lotte World Shenyang was envisioned as a large-scale pr
With South Korea’s manufacturing investments shifting from the western to the eastern United States, there’s a growing need to establish logistics infrastructure like port terminals on the U.S. East Coast to mitigate logistics risks.According to the report titled “Changes in Import-Export Logistics
The upcoming Nintendo Switch 2, the first new gaming device from Japan’s Nintendo in eight years, is expected to incorporate a significant amount of technology from Samsung Electronics. It is predicted that a wide range of Samsung products, from displays to memory and foundry services, will be used,
Europe’s views are changing in favor of nuclear power generation. Many European countries agree that nuclear power is necessary for carbon neutrality and energy security. They are also investing in new technologies such as small modular reactors (SMRs). Europe has a growing interest in South Korea,
China’s Alibaba Group, the parent company of AliExpress, which has been embroiled in controversy for selling knockoffs and distributing low-quality, unauthorized goods in Korea, is reportedly considering making a 100 billion won equity investment in Korean women’s fashion application Ably, causing a
Hyundai Mobis, a global leading company in the electric vehicle supplier, announced the construction of a new plant in Spain, the heart of Europe's automotive market. Mobis currently operates battery system production facilities in Korea, China, and the Czech Republic and is building several more in
Instagram has surpassed Naver and YouTube to claim the spot of Korea’s second-most-used app.On April 23, sample data from domestic smartphone users by app and retail analysis service WiseApp showed that Instagram’s average monthly launch count for the first quarter was 14.93374 billion times. This p
BMW Group Korea will now carry out all electric vehicle and software development, as well as certifications in Korea.“Korea is BMW’s fifth-largest market globally, and this year we became the No. 1 brand in premium cars, including electric vehicles,” said Jochen Goller, a member of the Board of Mana
Chinese electric multiple unit rapid transit cars, which dominated the U.S. electric rapid transit car market through price war, are being withdrawn from the market one after another due to safety issues and rising costs. Hyundai Rotem, which has struggled due to the price war, is aggressively pursu
Global leading tire company Hankook Tire & Technology (Hankook Tire)’s iON evo SUV, a high-performance tire specially designed for electric vehicles, has received the highest rating, “Exemplary” in a tire test conducted by the German automotive magazine Auto Bild. Through this, a company once again
Round eight of this season’s ABB FIA Formula E World Championship in the principality of Monaco is the next highlight for the Hankook iON Race. On the 27th of April, the spotlight in the second-smallest country in the world will be on the fully electric racing series. The 3.337-kilometer circuit, wh
South Korea is expected to maintain its position as the most expensive country for smartphones in the world. Since surpassing Japan in 2021, South Korea has held onto this top spot without challenge, with forecasts suggesting it will continue to have the highest average selling price (ASP) for smart
The number of affiliates belonging to Korea’s conglomerates crossed 3,000 for the first time in 2023. The increase is the result of business diversification in response to an unstable global business environment, but the increase has generated many negative side effects.As of May 2023, the number of
Korean appliances are making strides in Europe, one of the world’s most conservative markets. Although the European market is known for its traditional preferences, Korean companies have carved out a strong presence by adopting tailored strategies that cater to local tastes.Last year, LG Electronics
It has been revealed that the four American “big tech” companies -- Apple, Microsoft, Google, and Meta -- collectively garnered around 9 trillion won in sales and about 600 billion won in operating profit in South Korea over the past year.According to the audit reports disclosed in the Financial Sup
In a landmark move for the security industry, Neubility, a trailblazer in autonomous mobility solutions, and the South Florida Security (SFS) Group, a premier provider of integrated security services, have announced a collaborative Proof of Concept (PoC) initiative. This pioneering project is set to
Among the member countries of the Organization for Economic Cooperation and Development (OECD), the South Korean won was revealed to be the fifth most undervalued, while among the Group of Twenty (G20) nations, it ranked as the fourth most undervalued.According to the Bank for International Settleme
In 2023, about 20 percent of the 1.43 million resident foreigners in Korea obtained Korean language proficiency test ratings. The biggest share was taken by international students studying in Korea among them. The largest number of them earned a Level 4 rating.According to the results of the 2023 Im
A recent study has found that the South Korean won has surpassed the U.S. dollar as the most widely used currency in global cryptocurrency trading.On April 16 (local time), Bloomberg News reported that the volume of cryptocurrency transactions conducted in Korean won on exchanges amounted to US$456