Shinhan Financial Group announced on Feb. 7 that it has received the “Leadership A” rating in the CDP Climate Change category announced by the Korean Committee of the Carbon Disclosure Project (CDP) on Feb. 6, making it the only domestic financial institution to achieve this distinction.CDP is a glo
KT&G has rejected the request of an activist-oriented private equity fund to file a lawsuit seeking damages against its former and current directors.On Feb. 7, KT&G announced that it had decided not to file a lawsuit regarding the request from Flashlight Capital Partners (FCP), a private equity fund
The Korea Development Institute (KDI) recently evaluated the state of the South Korean economy, noting a recovery in exports but a slowdown in domestic consumption. This marks the third consecutive month that the KDI has assessed a “slowdown in domestic consumption.”On Feb. 7, the KDI assessed the e
Korea Development Bank (KDB) and Korea Ocean Business Corporation announced on Feb. 7 that negotiations on the sale of Korean container shipping company HMM have been held with a consortium of Harim Group’s Pan Ocean and JKL as a preferred bidder, but their meeting finally ended empty-handed.“During
Korea’s current account surplus reached US$35.5 billion in 2023. This was mainly because the volume of goods exports reaching a yearly high at the end of 2023.The current account surplus stood at US$7.41 billion in December, according to a December 2023 provisional balance of payments data released
The author is an analyst for NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.WFG’s CET1 ratio is now at 11.9%. While we positively view y-y improvement in the figure, we believe that CET1 ratio needs to be actively strengthened in order for WFG to meet market expectations for
U.S. General Motors (GM) Chairwoman Mary Barra will visit South Korea to meet with battery partners -- LG Energy Solutions and Samsung SDI -- on Feb. 7. Barra has made several unofficial visits to South Korea since taking office as chairwoman in 2016, but this is the first time she has officially co
The voices of labor unions within Samsung Group are growing louder. This is because not only are affiliate unions demanding the same wage increase through solidarity but the launch of a unified union, beyond affiliate unions, is on the horizon.On Feb. 6, the Samsung Group Trade Union Solidarity, a f
A contract worth US$3.2 billion has been finalized to export the KM-SAM2 (Cheongung) ballistic missile system, also known as the Korean Patriot Missile, to Saudi Arabia.The Korean Ministry of National Defense announced on Feb. 6 (local time) a contract for the export of 10 M-SAM2 batteries signed be
Pernod Ricard Korea, the Korean affiliate of the wine and spirits company Pernod Ricard, has successfully completed “Drink More Water” employee challenge by releasing the challenge video on the official LinkedIn channel of Pernod Ricard.The employee challenge, as part of the responsible drinking cam
Korean carmakers and car importers are in a flurry of activity as the Korean Ministry of Environment laid out a plan on Feb. 6 to change subsidies for electric vehicles (EVs) in 2024. According to the revised plan, Hyundai and Kia will remain at the same level, while mid-sized Korean-based carmakers
Pulmuone's innovative plant-based protein product, 'Tofu Bar,' continues its rapid sales growth, captivating the taste of local consumers in Japan's top three major convenience stores.Pulmuone, a South Korean fresh food company, announced on the 7th that the sales of Tofu Bar, launched by its Japane
KG Mobility, once a perennially loss-making company, has returned to profitability last year, driven by increased exports to Europe and Latin America.According to industry and securities market sources on Feb. 6, KG Mobility’s operating income for last year is estimated to be around 5 billion won. T
Samsung Heavy Industries has secured a second-phase project for liquefied natural gas (LNG) carriers worth 4.6 trillion won (US$2.5 billion), following HD Hyundai Heavy Industries, marking another success for two of South Korea’s major shipbuilders in the Qatar LNG project.On Feb. 6, Samsung Heavy I
Xiaomi and Huawei, major Chinese smartphone manufacturers, are set to launch a series of new premium phone models, intensifying competition for Samsung Electronics, which is already contending with Apple’s iPhone. The Xiaomi 14 series will be globally released this month, featuring the Qualcomm Snap
On Feb. 6, TikTok, the global short-form platform, revealed its content moderation methods aimed at creating a “safe platform environment.” The company disclosed that its content guidelines are enforced through a combination of artificial intelligence (AI) technology and human content moderation tea
The Ministry of Trade, Industry, and Energy revealed on Jan. 6 that last year a total of 23 cases of overseas leakage of industrial technology, including “national core technologies,” were detected, marking an increase of 3 cases from the previous year. The government designates as national core tec
The global leading automotive company Toyota, which has been embroiled in a “quality certification fraud” scandal, announced a record-breaking net profit of 4.5 trillion yen, equivalent to 40.2 trillion won or US$30.28 billion, for the fiscal year 2023, spanning from April 2023 to March 2024. The pr
The Korea Exchange (KRX) announced on Feb. 6 that it will open the “30-Year Treasury Futures Market” from Feb. 19 to promote the advancement of the government bond market and hedge against risks from long-term interest rate fluctuations. This marks the first time in 16 years since the introduction o
Due to the strength of the U.S. dollar, the foreign exchange reserves decreased last month for the first time in three months.According to the statistics of the “Foreign Reserves as of the End of January 2024” publication released by the Bank of Korea (BOK) on Feb. 5, South Korea’s foreign reserves