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
Foreign investors who invest in domestic stocks and bonds will see significant improvements in the complex foreign exchange procedures they have faced so far. It is expected that the accessibility of foreign investors to the domestic market and the Korean won will improve.The Bank of Korea and the M
The U.S. government has announced a plan to provide over 2 trillion won (US$1.5 billion) in subsidies to the U.S.-based semiconductor company GlobalFoundries. This marks the first large-scale support initiative since the enactment of the CHIPS and Science Act (CSA) in 2022 aimed at building the semi
A new mega labor union, formed through the collaboration of four Samsung Group affiliates, has emerged. The union comprises over 10,000 members. While there have been instances of certain unions cooperating in solidarity in the past, this marks the first time such a unified form of establishment has
The government plans to accelerate the expansion of K-food exports. It aims to achieve exports of US$13.5 billion this year and has set a target of US$23 billion by 2027.On Feb. 20, the Ministry of Agriculture, Food and Rural Affairs announced the “K-Food+ Export Innovation Strategy” to nurture K-fo
The KIMM has succeeded in conducting the cooling test of a large-capacity ultra-low temperature (hereinafter referred to as ULT) Turbo-Brayton cooling system using a zero GWP refrigerant.The research team led by Principal Researcher Junseok Ko of the Department of Energy Storage Systems of the Korea
Governor Kim Jin-tae addressed the plenary session of the 325th Extraordinary Session of the Gangwon State Council on the 14th, delivering a New Year's speech. He expressed, "The recently discussed 4-day workweek will be a significant opportunity for the state," and asserted his determination to "th
SK hynix President and CEO Kwak Noh-jung stated that the company is carefully considering the selection of a site for an advanced packaging facility in the United States, targeting all states.On Feb. 19, CEO Kwak made these remarks during a meeting with the press following the regular meeting of the
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
Despite the current economic downturn, South Korea’s top three battery manufacturers are ramping up their investments in infrastructure this year to strengthen their business foundations. According to industry sources on Feb. 18, LG Energy Solution plans to invest approximately 10.9 trillion won in
SK telecom and KT have announced their plans to showcase advanced technologies based on artificial intelligence (AI) at the Mobile World Congress (MWC) 2024, which opens on Feb. 26 in Barcelona, Spain. SKT is set to occupy a large exhibition space of 992 square meters in the Fira Gran Via Hall 3, un
This year it is projected that the annual overseas construction contract orders for South Korean companies will reach US$40 billion. It is expected that the contract amount will expand compared to previous years through projects such as nuclear power plants, renewable energy, and investment developm
More and more small and medium-sized food manufacturers that produce and supply Coupang’s private label products are succeeding in achieving a “second leap.”Coupang announced on Jan. 31 that three small food manufacturers in explosive growth regions, with sales that have increased from 3 to up to 29
Samsung Electronics announced on Feb. 15 that its Bespoke AI Dryer’s sales in Europe in 2023 have tripled compared to the previous year. The product’s heat pump technology has been well-received in the local market, with significant increases in major countries such as Germany, the United Kingdom, a
In South Korea, Apple has recorded its highest-ever market share. According to market research firm Counterpoint Research, last year, Apple exceeded a 25% market share in the domestic smartphone market for the first time, having increased its market share by 1 percentage point annually since 2020 an
HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding holding company of HD Hyundai, recently announced that it has signed a memorandum of understanding with Woodside Energy, Australia’s largest energy company; Hyundai Glovis; and Mitsui O.S.K. Lines (MOL), a Japanese global shipping c
SK Chemicals announced on Feb. 14 that it has decided not to proceed with the sale of its pharmaceutical business.Last year, the company signed a memorandum of understanding (MOU) for the sale of its pharmaceutical business and had been in discussions regarding the matter.It explained, “Amid various
SAESOL Tech, at the forefront of providing security solutions for autonomous connected cars under the leadership of CEO Junhyouk Han, is delighted to announce the recent achievement of Grade 1 GS (Good Software) Certification for its flagship solution, V2X SCMS. This certification underscores SAESOL
Pulmuone announced on the 14th that it has been recognized for sustainability in the 2023 Corporate Sustainability Assessment (CSA), conducted by S&P Global, one of the world's three major credit rating agencies, and has entered the global Top 5 for the first time in the food sector.This ranking pla
APR, scheduled for a listing by the end of this month, held a press briefing on Feb. 13 to disclose its future business vision and strategy post-IPO.At the event, APR CEO Kim Byung-hoon expressed his ambition to grow APR into the world’s leading beauty tech company, spearheaded by Medicube. He belie