South Korea’s 54 listed companies closing their books in December, including major subsidiaries of Samsung and Hyundai Motor Group, held their annual shareholders’ meetings on March 11. At the meetings, many of them, who fear about the economic recession, fixed the limit of remunerations and strengt
The Gyeonggi Center for Creative Economy and Innovation (GCCEI), together with Gyeonggi Content Agency and KOTRA, announced that they would help introduce Korean game companies in the North American market through the Games Connection America (GCA) 2016 to be held in San Francisco, USA from March 14
Doosan Heavy Industries & Construction announced on March 11 that the company held a ceremony to sign a 690-billion-won contract to build Bintan 4 Extension Coal-Powered Thermal Power Plant with the participation of Jung Ji-taek, vice chairman of Doosan Heavy Industries & Construction and Duong Quan
These days, Google is making headlines as its artificial intelligence (AI) AlphaGo beated top pro Go player Lee Se-dol 2:0 in a highly publicized five-game Go series. The internet search giant is expanding its AI business by taking over four robotics companies including DeepMind which designed Alpha
The Ministry of Trade, Industry & Energy (MOTIE) announced on March 10 that it has assisted in the construction of smart factories in 1,240 small and medium enterprises (SMEs) and the smart factories, which can be defined as facilities that are fully automated based on information technology, have i
The Hyundai Research Institute announced on March 10 that China has become South Korea’s largest trade partner and South Korea has become the fourth-largest trade partner for China with the size of their bilateral trade on a rapid increase.According to its report, South Korea’s exports to China incr
Chinese game producers, which are armed with large capital, are scrambling to push into the Korean market. As they have established strategic partnerships and acquired shares, some raise concerns over whether Korean game developers are continuously taken over by Chinese companies.NHN Entertainment C
The Korea government has decided to make Mercedes-Benz Korea face a prosecution investigation for selling unregistered vehicles. It has suspended the sale of Mercedes-Benz's four S350 diesel models until the end of April after the carmaker was found to have sold the vehicles with a nine-speed transm
The tension is mounting around Samsung Group before the release of the Galaxy S7 in Korea.The performance of Samsung Electronics, the group's financial cash cow, in the first quarter will vary according to sales figures of the new Galaxy S7 smartphone. When Samsung Electronics’ profits in the first
A report came out to call for making an improvement of reporting obligation standards for massive stockholding in order to stave off attacks from overseas speculative capital. The report is “Massive Stockholding Report Systems in Foreign Countries” released by the Korea Economic Research Institute (
SK Broadband announced on March 8 that a new corporation is to be set up in April after a merger between SK Broadband and CJ HelloVision and the corporation is going to make a large-scale investment in the domestic content industry by raising a fund of 320 billion won for a year to come. It added th
For the first time in the industry, LG Display supplies plastic OLED panels to Mercedes Benz for its new models scheduled to be released this year.According to industry sources, the New E Class that is to be put on the market in June comes with a plastic OLED panel option and the plastic OLED panel
Korea’s top 30 business groups plan to invest a total of 122.7 trillion won (US$100.99 billion) in their businesses this year, though most are pessimistic about their growth. The figure is up 5.2 percent from 116.6 trillion won (US$95.97 billion) in 2015.The Federation of Korean Industries (FKI) ann
SK Corp. C&C (SKC), the holding arm of SK, held a seminar on March 9 to help its main business partners improve their business insight and value and find new business opportunities utilizing SK's own big data business solutions.With a theme of “Read Big Data, Lucrative Information,” the special lect
Dong-A ST announced on March 9 that it has signed a contract with China’s Suzhou Sino on the previous day to exclusively supply “Terizidone,” raw material medicine used in the treatment of multi-drug resistant tuberculosis (TB).With the latest deal, the company will provide the Chinese company with
Bukwang Pharmaceutical Co. announced that it has signed a deal with Kalbe International Pte. Ltd. on March 3 to export its self-developed incrementally modified drug for treatment of diabetic neuropathy called “Dexid Tab” to six countries, including the Philippines and Vietnam.Taking out of the acti
In a bid to supply medicines in the southern hemisphere in 2016, Green Cross, a South Korean biopharmaceutical company, announced on March 9 that it won a contract to supply flu vaccines worth US$32 million (39.7 billion won) from the Pan American Health Organization (PAHO), under the World Health O
The PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games (POCOG) celebrated its “2nd Paralympic Day” at the Uiam Ice Rink in Chuncheon, capital city of Gangwon Province on March 9, 2016.The “Paralympic Day” is part of PyeongChang’s promotions to enhance the awareness and
The Korea Export-Import Bank (Korea Eximbank) announced on March 9 that they successfully issued 750 million euro bonds. The bonds will go down in history as the first euro bonds since the Korean government’s issuance of foreign exchange stabilization fund bonds in 2014. Therefore, the Korea Eximban
At a gathering of the European Chamber of Commerce in Korea (ECCK) on March 8, members expressed ambivalent yet honest sentiments about the business environment of Korea.The meeting was designed to discuss the results of a survey of 139 European companies with business stakes in Korea. Conducted in