Despite a downturn in the industry, petrochemical companies in South Korea have reportedly invested a record amount in research and development (R&D). This move is interpreted as part of a differentiation strategy to enhance competitiveness in new business areas such as high-value added (specialty)
Amid the global AI boom, there are forecasts suggesting that the revival of memory exports in South Korea could potentially boost the first-quarter performance of Samsung Electronics and SK Hynix.According to Bloomberg Intelligence, a research institution under Bloomberg, Senior Analyst Masahiro Wak
Samsung Electronics has regained the top spot in global smartphone sales from Apple after five months, thanks to the successful launch of the world’s first AI phone, the Galaxy S24 series, which received favorable reviews in the North American market. The latest increase in sales volumes of new fold
Qoo10 has acquired AK Mall, an internet shopping mall previously operated by AK Plaza, through its subsidiary, Interpark Commerce.Interpark Commerce finalized a business transfer agreement with AK Plaza for AK Mall on the March 27.AK Mall has been known for selling products from department stores wi
LG Chem is seeking solutions to revive its struggling petrochemical business. Splitting the petrochemical business and attracting foreign investments from the Middle East to create a joint venture are among the scenarios being discussed.Vice Chairman Shin Hak-cheol of LG Chem responded to reporters’
On March 21, the KOSPI index closed at 2,754.86, marking a significant increase of 64.72 points, or 2.41 percent, compared to the previous day’s closing.The KOSPI started at 2,731.18, up 41.04 points, or 1.53 percent, from the previous day’s closing, and it rose to 2,755.45 at one point during the t
The possibility of exporting South Korea’s indigenous helicopter, Surion, to Iraq is increasing. Following visits by high-ranking Iraqi military officials, the Iraqi Defense Minister’s visit to South Korea has heightened discussions about the introduction of the Surion. The potential first export of
It has been reported that a Korean strategic investor (SI) is considering acquiring Callaway, one of the world’s top three golf brands.According to investment banking (IB) industry sources on March 19, major shareholders such as BlackRock Advisors LLC have selected a sales manager and are pushing fo
The online stock trading platform Webull, which is gaining popularity among global individual investors based on its commission-free policy, is entering the domestic securities market in Korea. Consequently, there are concerns that individual investors who currently invest in the U.S. stock market t
Samsung Electronics and SK hynix are expected to have a production capacity of over 100,000 High Bandwidth Memory (HBM) units by the end of this year. The two companies are set to ramp up their HBM production more aggressively than the previous year, signaling a fiercer market competition.According
India, the world’s third-largest automobile market, is expected to emerge as an electric vehicle battleground after the United States and Europe. This is because the Indian government, which has been sticking to high tariff barriers, has launched a drastic tariff reduction policy to attract global e
A huge wave that began with Chinese e-commerce platform AliExpress is now on the horizon, making it to more difficult to predict the future of the Korean e-commerce market.While Korean e-commerce players are competing fiercely for survival, the United States, China, and other Asian countries have jo
Korea’s duty exemption threshold for cross-border shopping is set at US$150 per day. This limit is now on the table. It is blamed on the fact that Chinese e-commerce companies such as AliExpress, Temu, and Shein selling ultra-low-priced goods can quickly expand their presences in the Korean market t
The U.S. Congress began to keep Hyundai and Kia in check as the two Korean automakers continue to enjoy the growth of their electric vehicle sales in the U.S. market. The U.S. Congress made a thing of their business strategy of discounting subsidized electric vehicles through a lease car exception u
Samsung Electronics is projected to relinquish its leading position in the global foldable phone market share to Chinese rival Huawei in the first half of this year.According to market research firm DSCC on March 14, the global shipment of foldable phones in the fourth quarter of last year totaled 4
Big South Korean companies are exiting China one after another. Business uncertainties are being fueled by fiercer competition and declining profitability in the Chinese market coupled with the U.S. government’s checks on China and policy changes by Chinese government authorities.Lotte Chemical sold
Chinese online shopping platforms AliExpress, Temu, Shine and other overseas business operators over a certain size will be required to have representatives in Korea. This new policy is aimed at making them responsible for consumer protection.Unlike AliExpress, which currently has a legal entity in
Samsung Electronics and SK hynix have reportedly stopped selling their old semiconductor equipment to China. The move comes in response to the United States urging them to align with its controls on semiconductor exports to China.The Financial Times (FT) cited several industry insiders on March 12 s
LG Household & Health Care announced on March 10 that its cosmetics brand CNP has released new products in its flagship “Propolis” line, specifically targeting the Japanese market.CNP is selling new products, Propolis Vitamin Ampoule and Glow Ampoule, as well as two types of mist, at Ainz & Tulpe st
Michael B. Kim, Haverford College alumnus, founder-chairman of one of Asia’s largest private equity firms, and best-selling novelist has been appointed chair of the Haverford College Board of Managers.Haverford College announced on March 6 (local time) that Kim will lead the board of trustees as cha