Lotte Card employees have sparked controversy by being involved in an embezzlement case exceeding 10 billion won (US$7.55 million).The Financial Supervisory Service (FSS) announced on Aug. 29 that it had conducted an on-site inspection regarding the recent allegations of embezzlement by Lotte Card e
The Korea International Trade Association (KITA) has expressed deep concerns, indicating that the electric vehicle (EV) subsidy reform proposed by the French government might violate the Korea-European Union (EU) Free Trade Agreement (FTA). France is pushing forward with the introduction of new envi
SK telecom is set to develop its proprietary communication security technology, Quantum Security Communication (QSC), as an international standard. It is anticipated that the technology will receive final international standardization approval in as early as two years.On Aug. 29, SK telecom announce
In a bid to reinforce the future of smart living, industry rivals Samsung Electronics and LG Electronics are joining hands to establish a “Smart Home.” Their collaboration involves integrating both companies’ smart home platforms in the cloud to bolster interconnectivity between appliances.On Aug. 2
Before the formal commencement of the invalidation trial on the U.S. patent related to botulinum toxin filed against Medytox by HUGEL, the trial was terminated.According to industry sources on Aug. 29, the U.S. Patent Trial and Appeal Board (PTAB) rejected the initiation of the review, which HUGEL h
Hyundai Engineering & Construction (E&C) is on the cusp of entering the global top 10, having secured the 11th spot in the “Top 250 International Contractors” ranking for 2023, as announced by the U.S.-based construction engineering magazine Engineering News Record (ENR). ENR annually ranks global c
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.Sanigen provides A-to-Z solutions for food safety. Amid the government’s strengthening of food safety regulations, HACCP certification is to become increasingly important. Accordingly, interest sho
Samsung Electronics and SK hynix are expected to face another hurdle in achieving their business goals as electricity prices rose amid a slowdown in the semiconductor industry in the first half of this year. While they are implementing the so-called RE100 program to replace 100 percent of their elec
South Korea’s exports fell 12.4 percent in the first half of the year. Therefore, South Korea became the only country in the world’s top 10 to post a double-digit decline in exports. Its global export ranking dropped to eighth place from sixth in 2022. South Korea’s trade deficit is expected to reac
The author is an analyst for NH Investment & Securities. He can be reached at bk@nhqv.com -- Ed.In terms of policy effects, the US appears to be winning this new phase of the Cold War. Although Korea has chosen to support the US, it is still impacted by developments in both the US and China due to i
According to industry sources on Aug. 28, the automotive semiconductor market, which has been a market centered on low-end products in a multi-product, low-volume production system, is rapidly emerging as a source of demand for high-performance semiconductors in the trend of strengthening autonomous
The Korean government is approving the sale of national core technologies to foreign companies, national core technology transfers, or foreign investment in national core technology holding organizations after receiving reports on them. The number of such cases has more than tripled over the last fi
Samsung has embarked on a mission to secure highly skilled foreign talent with research expertise. This marks the first time that Samsung is recruiting foreign professionals with experience to work in South Korea.Samsung Electronics, Samsung Display, and Samsung SDI announced on Aug. 28 that they wi
HMM potential acquirers Harim and Dongwon as well as LX and the German shipping company Hapag-Lloyd are currently undergoing eligibility assessments for the acquisition of HMM, formerly known as Hyundai Merchant Marine. In the meantime, Korea Development Bank (KDB) and the Korea Ocean Business Corpo
Hana Financial Group has announced on Aug. 24 that it conducted an event at the regional head office of Hana Bank in Mexico, where educational supplies were delivered to students of “Escuela Villa de las Niñas Chalco” in Mexico.The event was attended by Lee Eun-hyung, vice chairman of Hana Financial
Regarding the issue of Lime Asset Management’s fund redemption, Mirae Asset Securities has clarified its position, saying, “The controversial allegations of favoritism in Lime Funds pertain to the asset management firm rather than the sales agents.”On the afternoon of Aug. 27, Mirae Asset Securities
The Financial Supervisory Service (FSS) is launching a comprehensive investigation into related securities firms to gather more precise information and evidence regarding the suspected preferential redemption of the “Lime Fund.” Amid allegations that funds were returned only to certain influential f
Forecasts indicate that China’s OLED shipments for smartphones will surpass South Korea’s by 2025.According to the “3rd Quarter OLED Market Track” report published by market research firm UBI Research on Aug. 28, the current market share of smartphone OLED shipments for South Korea and China stands
POSCO International is aggressively pushing forward with securing secondary battery materials and resources.On Aug. 28, POSCO International announced a significant expansion of its global trading business for key secondary battery materials and resources such as lithium and graphite, which it suppli
Amid the threat of a full-blown strike for the first time in five years, Hyundai Motor Company is facing pressure from labor unions even at its U.S. facilities where no labor union has been established. In South Korea, the Hyundai labor union has been ramping up pressure after securing the right to