On Feb. 7, Bloomberg reported that Tesla sold only one unit of the Model Y in Korea in January, citing Korean market research firm CarIsYou and government data.The growth of the electric vehicle market in Korea slowed as high interest rates and inflation have kept consumers from spending, while conc
The CEO Candidate Recommendation Committee of POSCO Holdings finally chose former POSCO President Jang In-hwa, a long-time POSCO insider, with rich experience in the steel business.POSCO Holdings held an extraordinary board meeting on Feb. 8 and resolved to select former POSCO President Jang In-hwa
Daewoo Engineering & Construction announced on Feb. 8 that Chairman Jung Won-joo visited India from the 31st of last month to the 6th of this month, where he held meetings with several business figures, including Vice Foreign Minister Dammu Lavi at the Ministry of Foreign Affairs, and executives fro
On Feb. 7, KB Financial Group was selected as the only domestic financial institution to achieve the highest rating, “Top 1%,” in the “2023 Corporate Sustainability Assessment” announced by U.S.-based Standard & Poor’s Global (S&P Global).The highest rating of “Top 1%” in the “2023 Corporate Sustain
SK Earthon is securing investment funds for future growth engines by selling its stake in Peru LNG Company, LLC.On Feb. 7, the company signed a stake transfer agreement with MidOcean Energy to sell 20 percent of its stake in Peru LNG for US$256.5 million.Peru LNG is a company that owns a liquefied n
On Feb. 8, the Fair Trade Commission (FTC) unveiled its agenda for the year, intending to elevate the criteria for designating business conglomerates subject to disclosure. Criticism has been directed at the regulations governing the disclosure of business groups as they are unique to South Korea. T
President Yoon Suk-yeol reiterated the importance of adopting a global standard to address the “Korea Discount,” which indicates the undervaluation of the domestic stock market, during his televised speech on Feb. 7. This has sparked increased interest in low price-to-book ratio (PBR) stocks among i
The stock price of Rainbow Robotics surged following reports that Samsung Electronics could expedite the acquisition of the robot specialist company. However, Samsung Electronics has refuted these claims as baseless.According to the Korea Exchange on Feb. 8, Rainbow Robotics saw its stock price jump
Apple is accelerating the development of a “foldable iPhone,” entering the foldable phone market pioneered by Samsung Electronics with its Galaxy Fold five years ago.The Information, a specialist IT media outlet, reported on Feb. 7 (local time) that Apple is developing prototypes of a clamshell-shap
Samsung Electronics is gearing up for the commencement of operations at its semiconductor contract manufacturing foundry in Taylor, Texas, in the U.S. by deploying manufacturing-related personnel in the second half of the year. If the current situation persists, there should be no issues with starti
Samsung has not officially responded to the news that prosecutors are appealing the court’s decision to acquit Samsung Electronics Chairman Lee Jae-yong. However, there’s an atmosphere of tension as the reality of him not yet being free from legal risks looms.The Seoul Central District Prosecutors’
The Korea Fair Trade Commission (KFTC) has decided to review the designation of dominant business entities, which is at the core of the Fair Competition Promotion Act (the Platform Act for short). This means that virtually, the Korean market watchdog will review the designation from scratch. Industr
Partnerships are on the uptick between North America’s No. 1 automaker General Motors (GM) and Korean companies. They started with electric vehicle batteries and are now expanding to battery materials and electronics and semiconductors.GM Chairwoman Mary Barra, who made her first visit to Korea on F
The domestic copper foil industry is strategically increasing investments in North America and Europe, aiming to gain a competitive advantage over China, which is launching a low-cost offensive in the medium to long term.As of Feb. 7, industry sources indicate that Lotte Advanced Materials plans to
Last year, Taiwan Semiconductor Manufacturing Company (TSMC) achieved the top spot in semiconductor sales worldwide for the first time. On Feb. 6, Taiwan News reported that TSMC, established in 1987, has become the leading semiconductor sales company for the first time.According to TriOrient Investm
SK hynix and Taiwan’s TSMC have established an “AI semiconductor alliance.” SK hynix, riding the wave of generative AI popularity, has emerged as a leader in the high bandwidth memory (HBM) market, while TSMC is the world’s largest semiconductor foundry. The strategy aims to consolidate the companie
Samsung Biologics has announced a collaboration with LegoChem Biosciences for the development of Antibody-Drug Conjugate (ADC) therapeutics.On Feb.7, Samsung Biologics revealed it had entered into a new Contract Development Organization (CDO) agreement with LegoChem Biosciences (hereinafter referred
LG Chem has signed a massive cathode material supply contract worth 25 trillion won with General Motors (GM). With the U.S. Tennessee cathode material plant at its core, LG Chem plans to strengthen its cooperation in the North American market alongside GM.LG Chem announced on Feb. 7 that it had sign
Kim Joo-sun, president of SK hynix, who is in charge of the newly established artificial intelligence (AI) infrastructure, announced on Feb. 7, “We will continue to ensure that no one doubts the proposition ‘AI memory equals SK hynix’ by enhancing communication and partnership to maximize the value
The South Korean government has approved new projects worth 13.8 trillion won (US$11.5 billion) under the Economic Development Cooperation Fund (EDCF) to be implemented by 2026, with 6.5 trillion won to be disbursed. Established in 1987, the EDCF is a fund for concessional loans aimed at supporting