South Korea's monthly exports increased year on year for 12 months in a row last month. Exports reached the second-highest level in history, and yet its trade surplus dropped 60 percent from the previous month, due to rapidly rising raw material prices, in October this year.The Ministry of Trade
Earlier this year, Celltrion Group’s honorary chairman Seo Jung-jin announced a plan to change the group's governance structure within 2021, but unexpected problems are forcing him to change the plan.Celltrion's stock price plunged about 20 perfect in one month. The stock price stood at 267,
The United States and the European Union ended their steel and aluminum trade disputes in 42 months. The United States opted to do so in order to strengthen its alliance with Europe with its trade disputes with China showing no signs of subsiding and because the prices of steel products in the Unite
SK Innovation announced on Oct. 29 that the order backlog of its electric vehicle battery business, which was recently spun off into SK On, amounts to 220 trillion won.The company disclosed the figure during a third-quarter earnings conference call. It posted an operating profit of 618.5 billion won
Korea Aerospace Industries (KAI) is gearing up to develop a manned-unmanned teaming (MUM-T) weapon system.KAI announced on Oct. 28 that it has signed a contract with the Defense Acquisition Program Administration (DAPA) of Korea for the Helicopter-Unmanned Aircraft Interworking System Project, part
Anticipation is growing for Samsung Display as foldable OLED panels are expected to show strong growth thanks to the popularization of foldable phones led by Samsung Electronics.Shipments of foldable OLED panels will reach 8.9 million units in 2021, Ubiresearch forecast in a report on Oct. 28. Shipm
SES of the United States, a global all-solid-state battery developer which received investments from Hyundai Motor and SK Corp. of Korea and General Motors of the United States, has developed a next-generation battery that dramatically improves driving performance and offers improved safety.SES will
Samsung Electronics announced on Oct. 28 that it would triple its foundry production capacity by 2026.The company said it posted 73.98 trillion won in sales and 15.82 trillion won in operating profit on a consolidated basis in the third quarter of 2021. Its sales and operating profit swelled 10.48 p
SKC will commercialize the glass substrate for high-performance computing, which was developed in-house for the first time in the world. Glass substrates are considered a game changer in semiconductor packaging, as they can boost computer performance and power efficiency.SKC’s board of directors dec
EOFlow Co., a provider of wearable drug delivery solutions, announced on Oct. 28 that the company will raise some 100 billion won with new common stock offering, after which it will do a 2:1 stock split.The company will make a new public offering of its common stocks. It will issue up to 3,000,000 s
The United States’ electric vehicle exports to South Korea are continuing to increase unlike South Korea’s electric vehicle exports to the United States. This is said to be because of the U.S. government’s subsidy policy, which is advantageous for U.S. automakers.The Korea Automobile Manufacturers A
Samsung Electronics is expected to produce a neural network processing unit (NPU) called an “artificial intelligence (AI) semiconductor” as early as next year in cooperation with two domestic startups.One of the two startups is Qraft Technologies, which is operating four exchange-traded funds (ETFs)
Hite Jinro announced on Oct. 26 that it has been operating a total of four advertising trucks to promote its Chamisul soju in 20 European countries, including the Netherlands, Germany, and France, since June 2020.In the first half of 2021, HiteJinro’s soju exports to the European market soared by 80
SK Ecoplant will strengthen its strategic cooperation with U.S. fuel cell manufacturer Bloom Energy to secure leadership in the domestic and foreign fuel cell markets and accelerate its entry into the global hydrogen market.SK Ecoplant announced on Oct. 26 that it has signed a total of five contract
The Ministry of Trade, Industry and Energy had a video conference with the U.S. Department of Commerce on Oct. 25. There, they decided to open a new channel of dialogue for cooperation in the semiconductor industry.In addition, they agreed to expand their existing dialogue for industrial cooperation
A total of 2.43 million doses of Moderna's COVID-19 vaccine produced by Samsung Biologics under an outsourcing agreement with Moderna will be released in Korea. A close collaboration between the government and the company moved up the vaccine shipment schedule by about four months.The Ministry o
The OECD announced on Oct. 25 that South Korea’s relative poverty rate was 16.7 percent in the period of 2018 to 2019, the fourth from the bottom in the OECD.The rate is defined as the ratio to the entire population of those whose income is less than 50 percent of the median income of the population
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