Domestic battery companies are groaning under the unreasonable demands of global automotive brands. The automotive companies, both customers and joint venture (JV) partners of the battery industry, are intensifying their oppressive tactics as the demand for electric vehicles slows down. This trend o
This year marks the 60th anniversary since the release of ramen in Korea, and its export revenue has exceeded 1 trillion won for the first time in history.According to the trade statistics from the Korea Customs Service on Dec. 10, the export revenue of ramen from January to October this year reache
Kia’s large electric sports utility vehicle (SUV), the EV9, is having a surprise year-end sales promotion with nearly 30 percent off. Normally the margin rate of electric vehicles is within 10 percent, but this massive sales discount has made the price of a new EV9 lower than that of a secondhand EV
After the implementation of the short selling ban last month, it has been revealed that foreign investors have acquired over 3 trillion won worth of domestically listed stocks in the past month. This marks a turnaround for foreign investors, shifting from net selling to net buying of domestic stocks
A Chinese state-run think tank expressed the view that South Korea’s concerns sparked by China’s recent withholding of customs clearance for urea exports from China to South Korea can be resolved through friendly negotiations.“Two years ago, during a urea shortage situation in South Korea, China urg
Hyundai Motor will shut down its local plant, which once drove the automaker’s strong sales in Russia, by the end of this year. Some local reports say that the Korean carmaker will sell the plant to a local company in Russia in the aftermath of the Russian-Ukrainian war.Hyundai Motor plans to close
LOTTE Fine Chemical recently contracted for 5,000 tons of Vietnamese urea, signaling a shift towards alternatives to Chinese imports amid growing concerns over shortages in supply of diesel exhaust fluid (DEF), essential for diesel vehicles, due to disruptions in Chinese urea imports.On Dec. 6, the
Mirae Asset Global Investments announced on Dec. 5 the listing of two new Exchange Traded Funds (ETFs) on the Korea Exchange: the “TIGER U.S. Tech TOP10INDXX (H) ETF (472160)” and the “TIGER U.S. Tech TOP10 Bond Mixed ETF (472170).”The TIGER U.S. Tech TOP10INDXX (H) ETF invests in the top 10 market
SK Group Chairman Chey Tae-won, who visited Washington, D.C., on Dec. 4 (local time) reiterated his proposal for the formation of a trilateral economic union, saying, “If South Korea and Japan develop into a single market-type economic partnership like the European Union, it will not only create tre
The government is opening up industrial research and development (R&D) to foreign institutions to discover and develop key technologies in areas vulnerable to becoming weak links in South Korea’s flagship industry value chains, such as “technology critical for leapfrogging,” “next-generation growth-
Bukwang Pharmaceutical announced that a delegation from the state of Sarawak in Malaysia, led by Sarawak’s Minister of Education, Innovation, and Talent Development YB Dato Sri Roland Sagah Wee Inn, visited its headquarters and research center on Dec. 5 to explore collaboration possibilities with Ko
"NPCore," a specialized artificial intelligence-based cybersecurity solutions company led by CEO Han Seung Chul, has been awarded the "Top Exporter of One Million Dollars" by the Korea International Trade Association. The company has continuously challenged itself to expand into overseas markets, wi
As China’s economy has expanded its independence in intermediate goods, it will be difficult for South Korea to enjoy the same benefits as in the past, according to a report on China’s growth structure transition process and the ripple effects released by the Bank of Korea (BOK) on April 4. The repo
South Korea’s exports rose nearly 8 percent in November, marking the second month of growth after October. According to November import and export trends released by the Ministry of Trade, Industry and Energy (MOTIE) on Dec. 1, exports reached US$55.8 billion last month, up 7.8 percent from the same
The U.S. Department of the Treasury is set to announce detailed regulations on “Foreign Entities of Concern” (FEOC), which excludes some companies from electric vehicle tax incentives under the Inflation Reduction Act (IRA), on Dec. 1 (local time). The South Korean battery industry is closely monito
Amid the continued positive trend in automotive exports, the export amount index has turned upward for the first time in 13 months, riding on the recovery in the semiconductor market. Due to the decline in international oil prices, the import amount index has experienced eight consecutive months of
The government is driving the development of next-generation batteries with significantly improved energy density and safety.On Nov. 29, the Ministry of Trade, Industry, and Energy (MOTIE) announced that the “High-performance Next-Generation Secondary Battery Technology Development Project for Eco-f
POSCO Group has commenced operations of South Korea’s first lithium plant. The group is accelerating the establishment of a supply chain and the domestic production of core materials for its secondary battery business, a key driver of its new growth.On Nov. 29, POSCO Group announced the completion o
CJ ENM’s over-the-top (OTT) media platform Tving and SK Square’s Wavve are set to merge. Discussions of the merger between the two companies began in 2020 but had not progressed due to differing views on the specifics. However, discussions have recently accelerated.The merger of Tving and Wavve is a
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the updated COVID-19 vaccine (NVX-CoV2601) developed by Novavax, a global company advancing protein-based vaccines with its Matrix-M™ adjuvant, has received an emergen