The National Highway Traffic Safety Administration (NHTSA) initiated an investigation on April 5 on 138,000 vehicles equipped with LG Energy Solution batteries.According to the NHTSA, GM, Mercedes-Benz, Stellantis and Hyundai Motor Co. have conducted recalls since 2020 for the risk of fire attributa
In its work report to the Presidential Transition Committee on March 29, the Ministry of Justice said it would establish a monitoring system to eradicate illegal naked short selling, introduce stricter punishments on illegal short sellers, and make capital market regulations more practical and effec
The police are investigating LAPSUS$, which hacked Samsung Electronics and LG Electronics this month. "It hacked U.S. companies, including Nvidia, as well and we are currently working with the U.S. police,” they said.According to some sources, LAPSUS$ has at least five members, was organized in Dece
The National Tax Service (NTS) of Korea has reportedly launched a large-scale tax investigation into Intel Korea. The NTS announced on Feb. 22 that it has launched an intensive tax investigation into a multinational corporation after detecting tax evasion allegations. The announced coincided with th
The National Intelligence Service (NIS) has launched an investigation into a technology leak attempt by a Samsung Electronics employee.The company has recently detected an attempt by its employee to leak confidential documents regarding its foundry technology.The employee, who works for the Foundry
The controversy over the Game Optimization Service (GOS) of Samsung Electronics' latest flagship smartphone Galaxy S22 series is spreading to the company's tablet PCs.Geekbench said on Twitter on March 15 that it has delisted the Samsung Galaxy Tab 8 from its Ardroid Benchmark chart. The ben
Thousands of Korean owners of the Galaxy S22 series, Samsung Electronics' first flagship smartphone model of 2022, are preparing to file a class action suit against the smartphone manufacturer. They claim that the performance of their smartphones is degraded by the Game Optimizing Service (GOS),
The prosecution forbade GM Korea president & CEO Kaher Kazem from leaving South Korea on March 3. He is currently in litigation regarding an illegal worker dispatch allegation and is scheduled to become an SAIC-GM vice president on June 1.The prosecution started investigations in 2019 and his overse
With the prolonged COVID-19 pandemic, the Korean collaboration tool market has shown continuous growth to meet the ever-increasing needs for effective communication.Despite more and more companies adopting aggressive marketing strategies to increase their market share, there is evidently no leading
The Korea Exchange has designated LG Household & Health Care as an unfaithful disclosure corporation.The exchange said that LG Household & Health Care violated the disclosure regulations in announcing its earnings in the fourth quarter of 2021. The designation date was Feb. 15, and the penalty for v
The Fair Trade Commission (FTC) has recently called in officials of Hyundai Glovis and the Carlyle Group for questioning on the U.S. private equity company's recent acquisition of Hyundai Glovis shares held by Hyundai Motor Group chairman Chung Eui-sun and his father. Hyundai Glovis and Carlyle
The U.S. Department of Commerce released a report on global semiconductor shortage on Jan. 25 based on data previously submitted by 150 semiconductor companies.“The shortage caused by COVID-19 and the resultant supply-demand imbalance is likely to continue for a while, and we are planning to conduct
An affiliate of OK Financial Group is reportedly going through an intensive tax probe by the National Tax Service (NTS).Dozens of NTS officials raided the consumer finance group's main office in Jung-gu, Seoul on the morning of Jan. 18.Industry insiders believe that the NTS has detected evidence
LG Chem announced on Jan. 19 that it has received approval from the US FDA for clinical phase 1 studies (investigational new drug; IND) for ‘LC542019,’ which is a new drug candidate material for treating type 2 diabetes that can improve insulin resistance.With the approval, LG Chem has now procured
Fire broke out in a recalled Kona electric vehicle that underwent a battery replacement last year, embarrassing the vehicle's producer, Hyundai Motor Co.The fire department has launched an investigation into the cause of the fire, and the industry's attention is focused on it.According to th
The police have launched an investigation into allegations that Samsung Electronics vice chairman Lee Jae-yong set up a paper company in an overseas tax haven for tax evasion.The Financial Crime Investigation Unit at the Seoul Metropolitan Police Agency said on Dec. 20 that it was looking into alleg
The Defense Acquisition Program Administration (DAPA) recently held a meeting on defense technology protection and announced that it would set up a new agency for tighter security control in the defense sector.This has to do with the fact that cyberattacks targeting South Korean defense companies ar
The Financial Services Commission has initiated an accounting fraud investigation regarding the three listed companies of Celltrion Group.In the group, Celltrion manufactures biosimilars and Celltrion Healthcare purchases the products in quantity to sell them abroad. According to the financial autho
The U.S. government is considering imposing countervailing duties on South Korean and Russian oil country tubular goods (OCTG). South Korean steel pipe manufacturers are facing increasing difficulties with a quota already applied to steel exports from South Korea to the United States.The United Stat
A former Hyundai Motor employee who reported safety issues with vehicles from Hyundai Motor Co. and Kia Corp. to the U.S. National Highway Traffic Safety Administration (NHTSA) will receive an award of US$24.3 million.NHTSA announced on Nov. 9 (U.S. local time) that it has paid the award to the whis