The opposition party’s landslide victory in the 22nd general election is expected to disrupt the Korean government’s planned new trade strategy. A plan to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which requires parliamentary approval, is likely to be pus
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
On April 17, Chairman Shin Dong-bin of Lotte Group visited the Lotte Energy Materials’ smart factory in Kuching in the state of Sarawak in Malaysia to inspect the secondary battery material business and engage with local employees.Since 2019, Lotte Energy Materials has been producing copper foil in
The Biden administration is likely to grant Hanwha Q CELLS’ request to impose tariffs on bifacial solar panels imported into the United States, according to sources cited by Reuters on April 17. On Feb. 23, Hanwha Q CELLS formally petitioned the United States Trade Representative (USTR) to revoke th
Samsung Electronics is set to expand its research and development (R&D) organization in Silicon Valley in the U.S. for the design of artificial intelligence semiconductors. Amid a reshaping semiconductor industry focused on AI chips, Samsung plans to enhance its design capabilities to disrupt the ma
bereum co.,ltd, a specialist in postbiotic, led by CEO Hwan Kwon Il, has signed an export and supply contract worth $980,000 for postbiotic pet food with Tecnocalidad of Colombia, under the leadership of CEO Harvey Ibanez Ortiz.Tecnocalidad is a subsidiary responsible for product imports of Agrocamp
With U.S. President Joe Biden directing the Office of the U.S. Trade Representative (USTR) to triple tariffs on Chinese steel and aluminum, attention is turning to impacts the action will have on Korea’s steel industry.According to the Korean government and the Korean steel industry on April 17, the
HD Hyundai Heavy Industries announced on April 16 that it had signed a contract worth 640.6 billion won to jointly construct four naval vessels with the Peruvian state-owned SIMA Shipyard. Selected as the priority negotiating partner at the end of last month, the contract was formalized within appro
SK Group has embarked on a significant business restructuring, focusing on the future expansion of new businesses in fields like semiconductors, artificial intelligence, and carbon neutrality.According to industry sources on April 17, SK networks plans to use the proceeds from the sale of SK Rent-a-
The water industry is generally defined as the business of producing and supplying potable water and industrial water needed for households and industries, as well as transporting and treating wastewater. The water industry is expected to steadily grow due to factors such as worsening water scarcity
In the midst of U.S. President Joe Biden emphasizing Texas as a pivotal player in the advanced semiconductor ecosystem due to Samsung Electronics’ significant investment, a competitive landscape with Arizona, which is attracting TSMC plants, is anticipated. The battle between Texas and Arizona could
Amid the surge in the Korean won against the U.S. dollar, reaching close to 1,400 won, dividends from listed companies, often heavily held by foreign investors, are continuing to flow. During this period, foreign investors are set to receive dividends totaling over 6 trillion won. If foreign investo
Starting this year, the Restricted Stock Unit (RSU) agreements agreed upon by the heads of conglomerates and their family members will be subject to mandatory disclosure. Consequently, companies affiliated with major corporate groups are obligated to disclose the status of RSUs, not only for listed
The scale of The Line project in Saudi Arabia is expected to be significantly reduced compared to the original plan. The Line is a large-scale project that was expected to cost up to 700 trillion won. As a result, Korean builders are expected to significantly lower the level of their anticipation fo
Samsung Electronics Chairman Lee Jae-yong (left) and BMW CEO Oliver Zipse (right) talk about BMW’s latest electric car, the New i7, at the BMW Driving Center in Yeongjongdo, Incheon, Korea, in December 2022.Germany’s BMW Group said on April 15 that it bought about 6.535 trillion won worth of auto pa
South Korean cosmetics companies such as LG Household & Health Care and AmorePacific are reducing their reliance on the Chinese market and aggressively increasing their market share in the United States.According to statistics from the Korea Customs Service on April 15, the export amount of Korean c
With Coupang significantly increasing the subscription fee for its paid membership service, “Wow Membership,” last week, a “membership showdown” has commenced in the retail industry. This move comes amid continued aggression from Chinese e-commerce giants such as AliExpress and Temu, expanding the f
The government plans to expand maritime transport capacity to 140 million tons by 2030. Additionally, it has decided to increase the national shipping fleet to 2 million TEUs.The Ministry of Oceans and Fisheries unveiled the “Plan for Stabilizing Management and Improving Vitality of the Maritime Ind
Last year, South Korea’s secondary battery exports declined for the first time in eight years, not due to weakened industrial competitiveness but as a result of increased overseas production.According to the report “Factors Influencing Changes in Secondary Battery Exports and Future Directions” publ
After a failed sale left HMM without a new owner, the company has decided to significantly expand its fleet by 2030. This strategy aims to address the global economic slowdown, restructuring of shipping alliances, and tightening environmental regulations by increasing its size and strengthening busi