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
The foreign direct investment in South Korea from the Greater China region increased 25.7 percent year on year to US$5.09 billion in the first nine months of this year.Although the rate of increase is lower than those in the FDI from the European Union (173.2 percent) and Japan (33.8 percent), the i
Major semiconductor companies and their home countries are protesting against the U.S. White House's demand for confidential semiconductor-related data such as orders and inventories. Facing opposition from these companies and countries, the United States administration may soon distribute quest
The Korea Institute for International Economic Policy recently said in its report that the damage done to South Korean industries as a result of U.S.-China trade disputes amounts to 3.9 trillion won.In July and August 2018, the United States and China imposed an additional tariff of 25 percent on ea
LG Display announced on Oct. 7 that its OLED TV panels have obtained 'High Gaming Performance Gold' certification from TÜV Rheinland of Germany and 'Qualified Superior Gaming Performance' certification from Intertek of the United Kingdom.The two testing agencies certified all of LG D
SK Group chairman Chey Tae-won met with CEOs of U.S. green energy companies.Chey met Andrew J. Marsh, CEO of Plug Power, a leading hydrogen energy company of the United States, at SK Seorin Building in central Seoul on Oct. 6. The two agreed to build a hydrogen ecosystem by developing hydrogen-relat
LG Magna e-Powertrain, a subsidiary of LG Electronics specializing in automotive electronics (electronic equipment), has set up three overseas offices within three months of its establishment.The company established its headquarters in Cheongna of Korea and subsidiaries in Detroit of the United Stat
SK IE Technology (SKIET), the material business subsidiary of SK Innovation, announced on Oct. 6 (local time) that it held an opening ceremony for lithium-ion battery separator plant in Silesia Province, Poland, the company’s first European production base.SKIET’s first plant in Poland has completed
Global HR consulting firm Universum announced its World's Most Attractive Employers list for this year on Oct. 6. A total of 26,802 IT majors worldwide picked Google as the most attractive employer and Samsung Electronics took the seventh place.The annual survey has been conducted in the countri
Samyang Foods announced on Oct. 5 that it will establish Samyang Foods Shanghai Limited in Shanghai, China, in December, following the launch of Samyang America in Los Angeles in August.China and the United States are Samyang Foods’ major markets that account for 45 percent and 15 percent of oversea
Nongshim announced on Oct. 5 that overseas sales of its Shin Ramyun exceeded domestic sales in the January-September period of this year, the first time since the launch of the instant noodle in 1986.Shin Ramyun's cumulative sales in the three quarters of this year totaled 690 billion won, of wh
Hyundai Motor has suggested that it might shift the production of the Palisade SUV from Korea to the United States.The automaker's move is a response to the recently erupted conflict between the labor unions at its plants in Ulsan and Jeonju over the allocation of work.Production of the SUV mode
The ongoing power shortage in China is increasingly affecting global raw material and product supply chains. For example, the government of Shanxi recently told 30 magnesium smelting companies in the province to pause their business for the rest of this year, and then the price of magnesium jumped f
Domestic consumer goods companies that have received investment from MBK Partners are drawing attention by making an impressive performance improvement. Analysts say that MBK Partners chairman Kim Byung-ju’s omnichannel strategy, which calls for strengthening online channels, is gradually paying off
Samsung Electronics was ranked 14th in the Global Top 100 Brand Corporations 2021, which was released by the European Brand Institute (EBI), a brand consulting firm based in Vienna, Austria, on Oct. 4. Samsung Electronics was the only Korean company included in the list.Samsung Electronics' bran
Hanwha Solutions announced in August that it would acquire renewable energy developer RES France for approximately one trillion won. “The French company was expected to be acquired by a European company, but Hanwha Solutions surprised the entire industry,” said an industry source, adding, “The South