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
LG Energy Solution has declared war against technology theft, believing that patent infringement by overseas battery-related manufacturers in regions like China and Europe is severe. The company’s own investigation revealed 580 cases of confirmed patent infringement. They are ready to pursue legal a
Macrogen, a global genome analysis company, has officially started building the largest Global Genome Center in Asia.The Incheon Free Economic Zone Authority announced that Macrogen held a groundbreaking ceremony on April 24 at the Advanced Industry Cluster in Songdo International City, Zone 5, for
The Korean construction industry is on edge due to the conflict between Israel and Iran and between Israel and Hamas, which has led to a decline in orders from the Middle East and concerns about lower profitability due to rising raw material prices. The Middle East is a big overseas market for Korea
Hanwha Life Insurance has become the first domestic insurance company to venture into overseas banking.The company announced on April 24 that it will acquire a 40 percent stake in Nobu Bank held by Lippo Group, the sixth largest conglomerate in Indonesia. The process of equity investment will be fin
SK innovation’s subsidiary, SK earthon, has completed the sale of its stake in Peru LNG Company, LLC which SK earthon had run since 2010.On April 22 (local time), SK earthon successfully wrapped up the sale of its 20 percent stake in Peru LNG to MidOcean Energy for US$256.5 million. The two companie
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
OCI Holdings announced on April 23 that it will expand its solar power business in earnest after signing a memorandum of understanding (MOU) for investment cooperation with the Malaysian central government at the KL20 Summit 2024, a global investment attraction event held in Kuala Lumpur, Malaysia,
It has emerged that the domestic battery industry, which received trillions of won in tax deductions in the United States last year, might need to pay nearly 200 billion won in additional taxes by 2026 due to the implementation of a global minimum tax. Battery companies are currently investing in th
Samyang Foods’ flagship brand “Buldak Series” is making waves in the global market, garnering successive attention from local media. Particularly, it continues to uphold the “Buldak Legend” with comprehensive support of Kim Jung-soo, vice chairman of Samyang Round Square.Based on industry sources on
The author is an analyst for Shinhan Securities. She can be reached at sunmi.kim@shinhan.com -- Ed.Strong top-line drives earnings surprise & annual forecast revisionHyundai Engineering & Construction posted sales of KRW8.5tr and operating profit of KRW250.9bn for 1Q24, beating consensus estimates b
Korea Hydro & Nuclear Power (KHNP) and Électricité de France (EDF) are vying for a contract to build nuclear power plants in the Czech Republic, which are estimated to be worth at least 30 trillion won. If KHNP wins the order, it will mark the first nuclear power export from South Korea in 15 years
Lotte C&T announced on April 21 that it held the 2024 Sky Run, a vertical marathon event, at Lotte World Tower in Jamsil, Seoul on April 21. The Sky Run is the largest vertical marathon event in Korea, with runners climbing 2,917 stairs from the first floor to the 123rd floor of Lotte World Tower.Sk
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
It has been revealed that both individual investors and institutional investors in South Korea earned over 100 trillion won through overseas stock and fund investments last year.According to the international investment position report from the Bank of Korea on April 21, the balance of equity securi
Seoul is considering establishing an international school in the international financial center of Yeouido in Seoul. The idea is to create a comfortable environment for foreigners to live in Seoul in order to attract more overseas investment.The Seoul Metropolitan Government will launch a service to
HLB has opened an office in the Cambridge Innovation Center (CIC) in Boston, Massachusetts, in the United States, to strengthen its collaboration with global pharmaceutical giants and to support its subsidiaries’ expansion into overseas markets.Through the Boston office, HLB plans to strengthen comm
CJ Logistics announced on April 18 that it has signed a customs clearance and delivery service agreement with NinjaVan to strengthen its logistics business for consumers in Southeast Asia that buy Korean goods through cross-border shopping.NinjaVan, a logistics company founded in Singapore in 2014,
As of last year, the cumulative overseas sales of the Korea Electric Power Corporation (KEPCO) reached a total of 41.8 trillion won (US$30.29 billion). More than half of the overseas sales came from nuclear power projects.According to KEPCO on April 18, the cumulative overseas sales of the company a
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