S-OIL CEO Hussain Al-Qahtani has been chosen as the winner in the ‘brand strategy’ and ‘refining-energy’ categories of the 2021 Korea CEO Hall of Fame Award for two years in a row.The annual award is organized by the Institute of Industrial Policy Studies and sponsored by the Ministry of Trade, Indu
The Federation of Korean Industries announced on Sept. 6 that it conducted a survey last month at the top 500 South Korean companies in terms of sales, 57 companies answered to the survey, 89.5 percent of them said that they are not planning to acquire any startup within three years, and only 7 perc
The Korea Fair Trade Commission fined Mirae Asset Daewoo Group 4.39 billion won in May last year, saying that 11 subsidiaries in the group conducted illegal internal transactions with a company in which chairman Park Hyeon-joo and his family have a stake of more than 90 percent.“The company runs gol
Born2Global Centre signed an MOU with the Abu Dhabi Investment Office (ADIO) on Aug. 25 to help innovative Korean technology startups make a foray in the Middle East, the agency announced on Aug. 30.Affiliated with the Ministry of Science and ICT, Born2Global Centre is a full-cycle service platform
The New Zealand Chamber of Commerce in Korea (The Kiwi Chamber) and New Zealand Trade and Enterprise (NZTE) launched the two-day “New Zealand-Korea Tech Roadshow 2021” webinar on Aug. 25. The event is being held jointly with the New Zealand Embassy in Korea, the Seoul Metropolitan Government and Inv
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on Aug. 19 that four pharmaceutical and biotech companies and the Korea Health Industry Development Institute newly joined the Cambridge Innovation Center (CIC) in Boston.The four companies are PharmCADD, WELT, Daewoong Phar
A total of 10 South Korean startups attracted an investment of at least 100 billion won each between January and July this year. For reference, the number stood at four in 2020 as a whole. Half of the 10 startups are aiming to go public abroad.The 10 include Yanolja, IYUNO Media and Riiid, which hav
Kakao announced on Aug. 16 that it has set up a subsidiary dubbed "Krust" in Singapore to expand the ecosystem for its blockchain platform "klaytn." Kakao also has the Klaytn Foundation, a non-profit corporation, in Singapore."The establishment of Krust means that we will globally expand the develop
Hyundai Mobis surpassed 10 trillion won in sales in the second quarter of this year as sales related to electric vehicles reached an all-time high. This is the first time the company has exceeded 10 trillion won in sales in the second quarter.Hyundai Mobis posted 10.2851 trillion won in sales and 56
Kakao founder Kim Beom-su has recently become the richest South Korean beyond Samsung Electronics vice chairman Lee Jae-yong. Their current assets are US$12.9 billion and US$11.8 billion, respectively.They are followed by Celltrion honorary chairman Seo Jung-jin (US$10.4 billion) and Nexon founder K
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. - In July, China’s car sales fell to about 1.5mn units (-6.2% y-y), with sales growth (y-y) turning downward for the first time since July of last year. High-base effect (return to growth from J
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Amid a favorable new order trend, Mando is enjoying ongoing sound growth thanks to client diversification/product advancement efforts. Moving ahead, we expect that profitability improvement secu
The Ministry of SMEs and Startups announced on July 28 that domestic venture investment totaled 3,073 billion won in the first half of this year, up 85.6 percent from a year ago. It is a record high half-year figure and equivalent to 71.4 percent of the figure recorded last year.The investment showe
SK Inc. announced on July 26 that it has signed a memorandum of understanding (MOU) with Joyvio Group of China to set up a fund for investment in China’s alternative food sector.Joyvio Group is an F&B distribution company founded in 2012 by Legend Holdings, which has a number of premium fruit and se
The Ministry of SMEs and Startups announced on July 21 that small and medium-sized enterprises (SMEs) reached US$56.5 billion in exports in the first half of this year, up 21.5 percent from a year ago. The figure is an all-time high since the ministry’s records began in 2010. The previous high is US
FuturePlay, an accelerator based in South Korea, has signed a memorandum of understanding (MoU) with Bandung Institute of Technology (ITB), a leading national university in Indonesia, to cooperate in discovering early-stage startups in Indonesia.The MoU aims to find talented tech-oriented individual
An increasing number of South Korean companies are aiming to repeat the success of Coupang after it made a successful debut on the New York Stock Exchange in March this year.SoftBank chairman Masayoshi Son is increasing his investment in South Korean startups after his successful investment in Coupa
With LG Energy Solution cooperating with General Motors (GM) and SK Innovation with Ford, expectations are growing that Samsung SDI may cooperate with Stellantis, the third-largest automaker in the United States.Stellantis held Electric Vehicle Day on June 8 (local time) and took the wraps off its r
Startup Alliance reported on July 8 that a total of 108 investments that add up to 1,195.9 billion won were made in South Korean startups last month. The actual total investment is estimated at over 1.2 trillion won in that some startups are yet to make their data public.In May, 82 startups attracte
LG Group has started to invest in the metaverse, a word made up of the prefix "meta" (meaning beyond) and the stem "verse" from universe. It means the sum of all virtual worlds, augmented reality, and the Internet.LG Technology Ventures recently invested in U.S. startup Wave, a company specializing