The rapid increase in direct overseas purchases through Chinese e-commerce companies such as AliExpress, Temu, and Shein has led to discussions about alternative measures to mitigate the side effects. However, it has been confirmed that the proposal to tax small imported goods is closely linked to t
The Financial Supervisory Service (FSS) announced on March 25 that it would initiate a concentrated investigation into what are colloquially referred to as “zombie companies.” These are businesses considered financially distressed, resorting to tactics such as capital increases through disguised pay
Among domestic construction companies, GS Engineering & Construction (GS E&C) has received the highest number of defect judgments in the last five years, with a total of 1,646 cases.According to the Ministry of Land, Infrastructure and Transport on March 24, GS E&C had 3,284 defects reported to the
The trade conflict between the U.S. and China has spilled over into the shipbuilding industry and Korean shipbuilders that compete with China for the No. 1 spot in the global shipbuilding market are expected to benefit from this situation.According to industry sources, the U.S. Trade Representative
On March 19, the Anti-Corruption Investigation Division of the Seoul Metropolitan Police Agency conducted a search and seizure at the headquarters of KG Mobility (KGM) in Pyeongtaek City, Gyeonggi Province. The CEO of KGM, Jung Yong-won, and employees have been under investigation for embezzling com
The police have launched a forced investigation into Korea Aerospace Industries (KAI) following the detection of an attempt by Indonesian employees dispatched to KAI to leak documents related to the Korean fighter jet KF-21.This action comes 24 days after a government joint investigation team, consi
The United States targeting Chinese-made goods as part of its supply chain localization and trade war strategies is expected to affect China’s shipbuilding industry after the Chinese semiconductor industry.According to the Financial Times (FT) and other foreign media outlets, U.S. President Joe Bide
Chinese online shopping platforms AliExpress, Temu, Shine and other overseas business operators over a certain size will be required to have representatives in Korea. This new policy is aimed at making them responsible for consumer protection.Unlike AliExpress, which currently has a legal entity in
Hyundai Motor Group will launch a large-scale electric vehicle recall. It is the largest voluntary recall in three years since the automaker entered the market with an electric vehicle-only platform (E-GMP) in 2021. Hyundai and Kia will replace faulty integrated charging control units (ICCUs) in som
The Korea Fair Trade Commission (KFTC) intends to initiate an investigation into Temu and Shein, following its inquiry into AliExpress, the leading online shopping platform in China, regarding potential consumer harm.This comes as the indiscriminate onslaught of Chinese online shopping malls, levera
The Korea Fair Trade Commission (KFTC) conducted an on-site investigation into AliExpress, the shopping platform of the Chinese Alibaba Group, which is suspected of violating consumer protection obligations.According to industry sources on March 6, the KFTC recently sent investigators to the Seoul o
Samsung Electronics has refuted its labor union’s claim that many of its workers suffer from mental health problems such as sleep disorders and depression.In its online newsroom on March 4, Samsung Electronics claimed that the labor union’s claims regarding a report on a survey on the status of labo
Hanwha Ocean submitted a complaint to the National Police Agency’s National Investigation Division on March 4 to investigate alleged systematic leakage of military secrets related to the Next Generation Korean Destroyer (KDDX) Project by HD Hyundai Heavy Industries (HHI).“It is an objective fact tha
The Korean Ministry of Land, Infrastructure, and Transport (MOLIT) is probing T’way Air for using unauthorized airframe parts.MOLIT discovered the use of unauthorized air conditioning and heating parts during a special inspection of T’way Air, according to industry sources on Feb. 27. Korean authori
HD Hyundai Heavy Industries (HHI), accused of leaking military secrets, will not receive sanctions, so it will be able to continue to bid in winning maritime defense projects. As a result, the company will be able to take part in a tender for the construction of the Korea Destroyer KDDX, which will
The legal risks facing the former President of POSCO, Jang In-hwa, who has been nominated as the next chairman of the POSCO Group, are growing, sparking controversy.According to industry sources, on Feb. 19, the People’s Livelihood Countermeasure Committee filed a complaint against former President
Korea’s leading chicken brand BHC Chicken is embroiled in controversy for replacing its boneless chicken menu with cheap Brazilian chicken and at the same time raising its price.BHC Chicken switched its source of boneless chicken to Brazil in May 2023, according to industry sources on Feb. 22. Howev
The Fair Trade Commission (FTC) is targeting franchise businesses owned by private equity funds. In particular, tensions within the industry have escalated recently after Mom’s Touch was fined 300 million won (US$225,989) for unfair practices towards its franchisees.Yook Sung-kwon, the Secretary Gen
In relation to the crash of the Marineon (MUH-1) utility helicopter in 2018, which resulted in the death of five individuals, Korea Aerospace Industries Ltd. (KAI) has been ordered by the court to compensate the state over 1.4 billion won. This first-instance verdict came after the state filed a law
Hyundai Motor Company is recalling about 90,000 Genesis vehicles in the United States due to the risk of engine fire.Hyundai Motor America is recalling a total of 90,907 vehicles, including the 2015-2016 Genesis, the 2017-2019 Genesis G80-G90, and some 2019 Genesis G70 cars, according to the Nationa