South Korea was the world’s largest luxury goods consumer in previous year with an average spending of US$325 per person (as estimated by Morgan Stanley), surpassing the United States and China to rank first globally. However, the situation has significantly changed this year due to the economic dow
The South Korean government and private companies are plunging into Ukraine's reconstruction project, which is estimated to be worth more than 1,500 trillion won in total. The government, in partnership with Poland, Ukraine's neighboring country and the largest Ukrainian supporter within Eur
CJ CheilJedang announced on July 13 that its feed amino acid brand Best Amino has been selected as one of the Top 100 Global New Brands of 2023 by global information service company Clarivate Analytics.Best Amino has been recognized for its leading position and competitiveness in the global amino ac
Coway Co., Ltd., the “Best Life Solution Company,” has once again received recognition as one of South Korea’s “Best Korea Brands 2023” by Interbrand, a global brand consultancy. This achievement marks the company's 9th consecutive year of being included among South Korea's top brands.Every
Hyundai Mobis announced on July 6 that its ongoing battery cell joint venture investment with LG Energy Solution in Indonesia has recently been named “Asia Deal of the Year for 2022” by Trade Export Finance (TXF), a British financial research institute. TXF highly recognized the value of the battery
As the trend of de-sinicization rises across industries in Korea, Altasia is emerging as an alternative to China.The Korea Chamber of Commerce and Industry (KCCI) released the results of its study on changes in the global trade structure and countermeasures on July 5, revealing that 14 Asian countri
The number of luxury cars costing more than 300 million won registered in Korea has crossed the 6,000 mark. Foreign luxury car brands such as Rolls-Royce, Ferrari and Bentley are eyeing the growing Korean luxury car market.Korea had a total of 6,299 luxury vehicles that cost more than 300 million wo
The author is an analyst for Shinhan Securities. She can be reached at kimaram@shinhan.com -- Ed.YLAB is a webtoon studio that has published popular titles like Island, Reawakened Man, Terror Man, Get Schooled, Reality Quest, and Study Group on NAVER Webtoon. Some of these stories are set in a share
Hyosung TNC announced on July 3 that it will present a range of environmentally friendly textiles and fabrics at “Interfilière Paris 2023,” the world's largest swimwear, lingerie, and textile material exhibition, held in Paris, France from July 2 to 4.At the exhibition, Hyosung TNC collaborated
On July 1 (local time), the U.S. Humira biosimilar market, worth 24 trillion won a year, opened. In the first week alone, six Korean and foreign companies plan to launch their products.According to sources in the biotech industry on July 2, Samsung Bioepis launched Hadlima, a Humira biosimilar, in t
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, today announced positive results from its Phase II clinical trials in infants of its 21-valent pneumococcal conjugate vaccine candidate, ‘GBP410’ (also known as SP0202), evaluating i
At MWC Shanghai 2023, Huawei launched 5GigaGreen innovations for wireless communications to promote ultimate network performance and energy saving with global operators.Gan Bin, Vice President and Chief Marketing Officer of Huawei Wireless Network Product Line, stated that ultimate performance and e
The European Union (EU) has decided to postpone the decision on the corporate merger review between Korean Air and Asiana Airlines.According to the aviation industry on June 29, the European Commission (EC) temporarily halted measures related to the merger of the two airlines on June 23 (local time)
Samsung Electronics has announced it will surpass TSMC, the world's leading semiconductor foundry company, through the mass production of cutting-edge 2-nm processes. Samsung Electronics revealed its confidence in leading the paradigm shift in artificial intelligence (AI) technology through its
FILA Holdings has highlighted its sustainable footwear using discarded materials while stressing the importance of product circularity in its latest sustainability report, “YOUR FILA IMPACT - FILA Integrated Report 2022.” These efforts are in line with FILA’s steadfast commitment to achieving its 20
Genesis’ Electrified GV70 sport utility vehicle (SUV) took the top spot in Germany, beating out even German-made electric vehicles (EVs).German automotive magazine Autobild recently conducted a comparative evaluation of three vehicles – the Electrified GV70, the Audi Q8 e-tron, and the Mercedes-Benz
Nurihaus, which operates the global influencer community Nuri Lounge, headed by CEO Baek Ah-ram, and Ecomobi, led by CEO Truong Cong Thanh, a key player in building the creative career for creators with the first all-in-one monetization platform for Creators in Southeast Asia, have announced the sig
The Chevrolet Trax Crossover saved GM Korea from its long slump.The Trax Crossover, which sold 6,500 units within two months of its launch in Korea in April, is characterized not only by sporting GM’s latest technologies and platforms, but also by including many localized options led by Korean engin
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.Following revision of the price basket housing component to a new contractual basis, core inflation has plummeted. The culprit behind core inflation rigidity has now gradually come to be seen as bein
KB Kookmin Bank announced on June 14 that it was named the Best Custodian Bank in Asia and Best Custodian Bank in Korea at The Asian Banker Financial Markets Awards 2023, hosted by The Asian Banker.The Best Custodian Bank in Asia was awarded for the first time this year and it went to a domestic ban