Mirae Asset Management announced on Oct. 25 that Global X, its ETF operator in the United States, has surpassed US$40 billion in assets under management (AUM).Global X’s AUM stood at US$41.1 billion as of the closing price on Oct. 21, doubling from US$20.9 billion at the end of 2020.ETF.com said tha
Citibank Korea, which has been pushing for the sale of its consumer finance unit, has failed to find a buyer and decided to phase it out. It will maintain existing contracts with consumer, but will not take subscriptions to new products in the future.On April 15, Citigroup of the United States, the
The Korea Economic Research Institute announced on Oct. 25 that the number of lost working days attributable to strikes between 2009 and 2019 is larger in South Korea than in the G5 countries.“The annual average per 1,000 paid workers was 38.7 days in South Korea, 35.6 in France, 18 in the United Ki
Taiwan's TSMC has decided to submit its information and data demanded by the U.S. Department of Commerce after having refused to do so. Earlier, the department told major semiconductor companies to submit their inventory, client, process and partner firm data by Nov. 8, saying that the demand is
The South Korean government announced that COVID-19 vaccination was completed for 70 percent of the entire population at 14:00, Oct. 23. In South Korea, the first and second vaccinations started on Feb. 26 and March 20, respectively.“The ratio of those aged 18 or older and completely vaccinated topp
The Federation of Korean Industries said in its report on Oct. 21 that U.S.-China trade disputes have resulted in a decline in South Korean products’ shares in both the U.S. and Chinese markets and an increase in ASEAN products’ shares in the same markets.According to the report, last year, the Unit
Jongga Kimchi Blast, a global kimchi-making contest, has been successfully held in the United Kingdom and France, said Daesang Corp., which sponsored the event, on Oct. 21.The cooking contest was co-organized by Le Cordon Bleu, a renowned cooking school in Paris, and the Culinary Institute of Americ
Samsung Electronics vice chairman Lee Jae-yong is scheduled to embark on a business trip to the United States in November. The head of Samsung Electronics is likely to announce the site for Samsung Electronics' second foundry in the United States during this business trip.Samsung Electronics ann
Korean Air announced on Oct. 20 that it will resume its Incheon-Hawaii service starting from Nov. 3. Korean Air suspended service on the route on April 3, 2020 due to COVID-19.Korean Air will offer the Incheon-Honolulu service three times a week. The departure flight will leave Incheon International
LG Energy Solution will join hands with Stellantis, one of the top three U.S. automakers, to set up an electric vehicle battery plant in North America.The company announced on Oct. 18 that it has signed a memorandum of understanding (MOU) with Stellantis on establishing a joint venture company with
Samsung Electronics is found to be involved in the largest number of patent infringement lawsuits in the United States.According to Unified Patents, Samsung Electronics was the most frequently found company on a defendant list in patent infringement lawsuits filed with U.S. district courts in the fi
Global supply chain risks are threatening the South Korean economy, although South Korea’s exports are continuing to increase and recently reached the highest level since records began in 1956.The risks that arose with the outbreak of COVID-19 are taking the forms of automotive chip shortage, cargo
Hyundai Motor Group is facing the double whammy of global automotive chip shortage and protectionist policies in the U.S., European and Chinese car markets.At present, the U.S. electric vehicle market barrier is rising more than ever. The U.S. Congress is working on a new bill so that additional sub
The South Korean government finalized its carbon neutrality plan on Oct. 18. According to the plan consisting of two scenarios, South Korea’s net carbon emissions are supposed to be close to zero in 2050. In addition, the government adjusted its nationally determined contribution (NDC) for 2030 to 4
Korea Development Bank (KDB) has tentatively decided to hold the opening ceremony of KDB Silicon Valley LLC, the first Korean venture investment agency established in the United States, on Nov. 16. The new company's capital has been set at US$5 million.KDB's venture capital in Silicon Valley
Samsung Electronics Vice Chairman Lee Jae-yong is reportedly visiting the United States as early as at the end of October.Lee has applied for a U.S. visa. He is expected to finalize the selection of the site for the company’s new U.S. foundry during this business trip. In May 2021, Samsung Electroni
The Korea Forest Service held the 9th meeting of the Korea-Mekong Forest Cooperation Committee on Oct. 14 and discussed ways to strengthen forest cooperation to jointly respond to climate change with four countries in the Mekong region — Cambodia, Laos, Myanmar, and Vietnam.The online meeting was at
Many employees of LINA Life Insurance Co. of Korea feel betrayed as Cigna Group of the United States has decided to sell the Korean life insurance company to Chubb Group of the United States.LINA employees continue to post complaints on Blind, an anonymous internet community website for salaried wor
Doosan Heavy Industries & Construction (DHIC) is gearing up to strengthen its small modular reactor (SMR) business capabilities as its large nuclear plant business has no more new project when it ships a steam generator for Shin-Kori Unit 6.DHIC was originally scheduled to ship the steam generator f
Hyundai Motor Group wants to develop semiconductors for vehicles on its own to reduce its reliance on chipmakers, Jose Munoz, the group’s global chief operating officer (COO) said on Oct. 13 (U.S. local time).Munoz, who is also head of the North American regional headquarters, told reporters in San