Samjong KPMG (KPMG Korea) predicts that the semiconductor and smartphone markets will rebound in 2024 thanks to the full-scale commercialization of artificial intelligence (AI) technology. On the other hand, the automobile, shipping, construction, and distribution industries are likely to show slugg
As China’s economy has expanded its independence in intermediate goods, it will be difficult for South Korea to enjoy the same benefits as in the past, according to a report on China’s growth structure transition process and the ripple effects released by the Bank of Korea (BOK) on April 4. The repo
The Ministry of Trade, Industry and Energy announced on Nov. 14 that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$17.06 billion, while imports recorded US$12.61 billion, resulting in a provisional trade surplus of US$4.44 billion.Notably, the incre
At HD Hyundai Heavy Industries’ Ulsan yard, the future of South Korea’s naval defense is being forged. The Republic of Korea Navy’s next-generation Aegis destroyer (KDX-III Batch-II) King Jeongjo the Great was successfully launched last July and is awaiting operational deployment. The lead ship in t
In the third quarter of this year, OB’s steady-seller beer, Cass, successfully retained its position as the leading brand in the South Korean home beer market.According to the food industry statistics information from the Korea Agro-Fisheries & Food Trade Corporation (aT) on Nov. 5, the retail store
Pernod Ricard Korea, the Korean affiliate of global wine and spirits company Pernod Ricard, announced that its Drink More Water campaign launched in June of this year successfully delivered the message of responsible drinking to approximately 5 million consumers in Korea.The Drink More Water campaig
Google, which accounts for the highest share of domestic network traffic in South Korea, has been highlighted for not paying any network usage fees in the country.On Oct. 26, Kim Byung-wook, a member of the National Assembly’s Science, ICT, Broadcasting and Communications Committee from the People P
Eco-friendly car exports, including hybrid, electric, and hydrogen vehicles, recorded US$18 billion in the first nine months of this year, outpacing the total eco-friendly car exports of US$16.1 billion in the previous year.According to a “September 2023 Automotive Industry Trends” report released b
Korea’s information and communications technology (ICT) exports fell 13.4 percent year on year in September. The decline rate hit the lowest of the year thanks to semiconductor exports, which posted this year’s best performance in September.According to September ICT import and export data from the
Claims have emerged that Google Korea’s revenue for the previous year is up to 30 times higher than what was disclosed in its audit report. Taking into account the omitted revenue in the audit report, it is suggested that the corporate tax owed to the South Korean government by Google Korea could be
In September, South Korea achieved its highest semiconductor exports in the past year, while exports to China also reached their peak for the year. Analysts suggest that semiconductor exports have gradually found their footing and are on an upward trajectory, and exports to China have entered a sign
SK ecoplant continues to make significant strides in the global energy market as it has joined Korea's first utility-scale offshore wind power project.On September 24, SK ecoplant announced its successful bid for the “offshore wind power transportation and installation project (Foundations T&I Packa
In the span of a year, bad loans in corporate lending from the five major banks have surged by over 400 billion won (US$300.98 million), heading towards the 3 trillion won mark. With the corporate sector facing economic challenges, there are concerns that the fierce competition in corporate lending
On Sept. 14, the Ministry of Trade, Industry, and Energy announced that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$160.5 billion, with imports reaching US$110.7 billion. This led to a provisional trade surplus of US$49.8 billion.The decline in th
The Supreme Court of Korea has justified the Korea Fair Trade Commission (KFTC)’s decision to punish Citibank and JPMorgan Chase for allegedly colluding to bid on a currency swap contract. The ruling means that if a bidder cooperates with another participant during a bidding process to agree on the
Pulmuone announced on the 12th that it is launching the 'Robot Chef,' a smart unmanned instant cooking vending machine that serves up hot food on demand with a robot for the first time in Korea to diversify its unmanned sales platform business.Through the launch of the 'Robot Chef,' Pulmuone plans t
Specialized patent examiners in the field of semiconductors, which has acquired crucial technologies over more than 30 years in private semiconductor companies such as Samsung Electronics and SK hynix, are being further expanded this year to contribute to securing the nation’s competitiveness. Parti
The government has supplied more than 10,000 workers, both nationals and foreigners, to the shipbuilding industry in the first half of this year. Out of these, foreign workers totaled 8,300.According to the Ministry of Trade, Industry, and Energy and the Ministry of Justice, a total of 11,104 produc
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
CATL, China's largest battery manufacturer, is witnessing explosive growth, with its revenue for the first half of the year nearing that of the entire South Korean battery industry.According to industry sources on July 30, CATL reported sales of 189.246 billion yuan (US$26.6068 billion) and an o