The government is restructuring industrial and energy technology development projects to focus on high-risk, next-generation, and large-scale tasks. There will be a significant reduction in the financial burden on companies. The plan is to transition to a demand-driven process where businesses and r
Samsung Electronics’ Device Solutions (DS) Division executives have decided to freeze their salaries in response to the division’s deteriorating performance.The executives of the Samsung Electronics DS Division held an emergency executive meeting on Jan. 17 to reaffirm their commitment to swiftly en
Hyosung TNS showcased its latest unmanned payment solution, JetCheck, at the NRF 2024 retail trade show held in New York from Jan. 14 to 16.JetCheck is an unmanned checkout counter that provides a seamless payment experience and assists in store operations. This unmanned payment solution includes bo
The police have referred individuals connected to Fidelis Asset Management, including its CEO, who are under suspicion for the improper sale of the “Fidelis Fund,” to the prosecution.The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that three individuals, incl
The Financial Services Commission (FSC) has stated that trading bitcoin spot exchange-traded funds (ETFs) violates domestic capital market regulations in South Korea. However, overseas bitcoin futures ETFs will continue to be traded as usual.On Jan. 15, the FSC announced that the issuance of bitcoin
The Korean beauty care industry is turning its eyes to the Japanese market. It is a strategy to try to rebound by targeting Japan as an alternative market as its performance weakened due to a decline in the market share of Korean cosmetics in China.LG Household and Health Care’s cumulative sales thr
As the maturity date for equity-linked securities (ELS) linked to Hong Kong’s Hang Seng China Enterprises Index (HSCEI) worth 10 trillion won (US$7.6 billion) approaches in the first half of the year, it has been revealed that a confirmed loss of 100 billion won has been incurred since the beginning
GC Biopharma Group is approaching close to 5 trillion won in total assets, setting a milestone as the first traditional pharmaceutical group to reach the disclosure threshold for public reporting.According to the electronic disclosure system on Jan. 11, the total assets of GC Biopharma Group, includ
LG Energy Solution is actively expanding its business in North America. Following its success in electric vehicle batteries, the company is now accelerating its Energy Storage Systems (ESS) business. The growth of ESS is closely tied to the increasing generation of renewable energy.According to the
Chey Jae-won, vice chairman of SK Group, stated on Jan. 10 (local time) that significant progress has been made in the development of cylindrical batteries. He also mentioned that while it’s challenging to predict the exact timing of SK on’s IPO due to internal and external conditions, it will proce
South Korea would be hit hard if China invaded Taiwan and a war broke out, according to a forecast by Bloomberg Economics.On Jan. 9 (local time), Bloomberg Economics, an economic research institute affiliated with Bloomberg News, said the geopolitical crisis in Taiwan could intensify ahead of a pres
The sale of GS E&C’s subsidiary GS Inima will begin in earnest from February.According to sources in the investment banking (IB) industry on Jan. 10, GS E&C will distribute an investment prospectus for the sale of a stake in its wholly owned subsidiary GS Inima before the Lunar New Year holiday in F
Chong Kun Dang Pharmaceutical, a leading biotechnological and pharmaceutical company in South Korea, is poised to achieve a nearly sevenfold increase in operating profit in the fourth quarter of last year compared to the same period the previous year. This remarkable growth is attributed to the tech
Following the passing of the late Lee Kun-hee, the former chairman of Samsung, in 2020, it has been revealed that the mother and two daughters of the Samsung owning family, including Hong Ra-hee, the former director of the Leeum Samsung Museum of Art; Lee Boo-jin, the CEO of Hotel Shilla; and Lee Se
The Incheon Free Economic Zone Authority announced that Yoo Jeong-bok, mayor of Incheon Metropolitan City, participated in the Consumer Electronics Show 2024 being held from Jan. 9 to 12.At this year’s CES 2024, Incheon is operating a 132.23 square meter pavilion in the North Hall of the Las Vegas C
Samsung Electronics’ stock price has been struggling to reach the 80,000-won (US$60.61) mark. On Jan. 9, the company concluded the market at 74,700 won, recording a decrease of 1,800 won, or 2.35%, compared to the previous day. Although Samsung Electronics briefly rose to 77,000 won in the early mar
Starting from the second half of this year, South Korean companies will have the option to settle export and import payments in Korean won when engaging in trade transactions with certain countries from the Association of Southeast Asian Nations (ASEAN). This move is expected to allow businesses to
In the fourth quarter of last year, the annual performance of South Korea’s largest container shipping company HMM and bulk carrier operator Pan Ocean plummeted due to a slump in the shipping industry.According to financial information firm FnGuide on Jan. 8, the estimated performance consensus for
The police have initiated a forced investigation into Il-Yang Pharmaceutical, which is under suspicion of stock price manipulation.According to the police on Jan. 5, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency executed a search and seizure warrant at the headquarte
LG Electronics continued its strong performance in 2023, setting new records in sales for the third consecutive year and achieving significant growth. Notably, in the fourth quarter of 2023, its operating profit surged by an impressive 350.9% compared to the same period last year, demonstrating soli