U.S. President Donald Trump has stepped up pressure on the World Trade Organization (WTO) to change the rules on the status of developing countries. Trump’s main target is China, but Korea was also mentioned as a major case.As President Trump ordered the U.S. Trade Representative (USTR) on July 26 (

LX, a state-run company specializing in cadastral data management, announced on July 25 that it would enter the Indonesian spatial information management market together with domestic companies with expertise in this field.LX held a briefing session in Jakarta on July 24 on mapping out a master plan

As a boycott of Japanese goods continues following Japan’s restriction of exports to Korea, woes are growing among local distribution companies.Lotte Group has been hit the hardest by the boycott as it has many joint ventures with Japanese companies. Lotte Shopping has a 49 percent stake in Uniqlo K

Chung Eui-sun, senior vice chairman of Hyundai Motor Group met with Indonesian President Joko Widodo in Jakarta on July 25 (local time) to discuss ways to promote cooperation.Chung is visiting Southeast Asian countries to check local markets."Hyundai Motor is one of the most enterprising companies a

The amount of derivatives linked securities (DLS) issued in the first half of this year came to 15.07 trillion won (US$12.73 billion) as of the end of June, Korea Securities Depository (KSD) said on July 25.The figure represents a 10.3 percent decline from the same period last year, but it marks a 2

The Washington Post reported that North Korea launched two short-range missiles on July 25 for the first time since last month’s Panmunjom meeting between U.S. President Donald Trump and North Korean leader Kim Jong-un and one week after the North’s warning message regarding U.S.-ROK joint military

As the Korean economy is slowing down amid growing concerns about a global economic downturn, foreign investors are withdrawing their funds from the domestic stock market for investment in bonds, which are risk-free assets.Foreign investors net sold 2.48 trillion won (US$2.10 billion) worth of KOSPI

The World Trade Organization (WTO) held a general board meeting in Geneva on July 23 and 24. There, Kim Seung-ho, head of the Office of International Trade and Legal Affairs of the Ministry of Trade, Industry and Energy of South Korea, pointed out that Japan’s export curbs on South Korea are rooted

Samsung Electronics will launch its first foldable phone Galaxy Fold worldwide in September, about five months after controversy was raised over its screen defects by reviewers in the United States in April.Samsung Electronics announced on July 25 that it would launch the foldable handset in the glo

As the Japanese government is moving to exclude South Korea from its trade whitelist, concerns are growing domestic biotech companies as it can disrupt the supply of biomedicine raw materials and equipment.The Korea Biotechnology Industry Organization (KoreaBio) submitted a petition to Japan’s Minis

The sale process has begun for South Korea's second-largest full-service carrier Asiana Airlines Inc.Kumho Industrial and sales adviser Credit Suisse Securities issued a public notice on July 25 to sell 68,688,063 controlling shares of Asiana Airlines, equivalent to a 31.0 percent stake, held by

SK Hynix Inc., the second largest DRAM producer in the world, announced on July 25 that it would cut back DRAM production starting from the fourth quarter of this year, following Samsung Electronics Co.The company also said it is planning to increase its NAND flash wafer input cut from 10 percent in

The international community is criticizing the Japanese government for its export restrictions targeting South Korea. Industry groups and think tanks in the United States and major global media outlets, which were cautious about mentioning the issue for its relation to history, are urging the Japane

LG Electronics has recently registered trademarks with Korean intellectual property authorities for the names of its future foldable smartphones.According to LetsGoDigital, a Dutch online magazine specializing in the IT industry, LG Electronics submitted two notable trademark applications in Korea,

SK Telecom announced on July 24 that it has started operating STONledger, an enterprise blockchain platform that it has developed together with its consortium members. The announcement is taken as a declaration that the company will focus on the blockchain business.SK Telecom plans to introduce a va

Doosan Corp., the holding company of Doosan Group, announced on July 24 that it held a groundbreaking ceremony for an electric vehicle (EV) copper foil plant in the Tatabanya Industrial Park in northwestern Hungary on July 24.A company official said, “The new plant is the only battery copper foil pl

The Coffee Bean & Tea Leaf, an American coffee chain owned by a consortium led by Mirae Asset Global Investments Private Equity, will be sold to a consortium of franchise holders in the Philippines and Vietnam.The Mirae Asset Global Investments Private Equity-led consortium signed a deal with Philip

The total amount of principal invested in domestic bond-type funds has topped 120 trillion won (US$101.82 billion) for the first time as a large amount of investors' money keeps flowing into bond funds, which are considered risk free assets, amid concerns about the slowdown of the Korean economy

The South Korean government is planning to allow telemedicine and blockchain-based regional currencies. The seven regulation-free zones it designated on July 24 are expected to function as test beds for new industry development.The seven zones are located in Gangwon Province (digital healthcare), Da

Doosan Heavy Industries & Construction announced on July 24 that it signed a nuclear reactor module supply contract with NuScale Power, an American nuclear power company, with regard to the United States’ first small modular reactor (SMR) project.The SMR to be produced by NuScale Power requires no s