Italian supercar brand Lamborghini sold more cars in South Korea than in its home country of Italy in 2023.Lamborghini, which celebrated its 60th anniversary in 2023, sold 10,112 units globally, up 10 percent from the previous year, the company said on Jan. 31. This was the first time Lamborghini ha
Kia Corp.’s market capitalization has outstripped Hyundai Motor’s. The automaker’s record-breaking earnings and strong shareholder return policy paid off handsomely, stock market experts say. Some of them believe that there is a remaining upside as the price-to-earnings ratio (PBR) is still below 1x
The Ministry of Trade, Industry and Energy (MOTIE) has set a target of US$700 billion for South Korea’s exports next year, with a plan to attract US$35 billion in foreign direct investment in Korea and US$150 trillion in private investment.MOTIE Minister Ahn Duk-geun said in a briefing at the Sejong
Korean Air has received approval for its merger with Asiana Airlines from Japan’s competition regulator, facing the final hurdle in its quest to become Korea’s megacarrier.The Japan Fair Trade Commission (JFTC), Japan’s competition authority, approved the merger of Korean Air and Asiana on Jan. 31.T
Doosan Bobcat has successfully commercialized Korea’s first hydrogen forklift.Doosan Bobcat announced on Jan. 31 that they held a “First Hydrogen Forklift Rollout Ceremony” at their forklift factory in Incheon on Jan. 30.The shipped first hydrogen forklift from Doosan Bobcat is a 3-ton model equippe
Samsung Electronics has emerged as the leading investor in semiconductor capital expenditures (CAPEX) globally over the past ten years.Andrea Lati, a researcher at TechInsights, announced during a press briefing at SEMICON Korea 2024 on Jan. 31 that “the semiconductor market will exhibit a robust gr
SK hynix has announced plans to release its 5th generation High Bandwidth Memory (HBM), named HBM3E, this year, and aims to launch HBM4 by 2026.Kim Chun-hwan, vice president of SK hynix, revealed these plans during his keynote speech at SEMICON Korea 2024, held at COEX in the Samseong neighborhood o
POSCO Group is making significant strides into the clean hydrogen sector in collaboration with the Abu Dhabi National Oil Company (ADNOC), a state-owned petroleum company in the United Arab Emirates (UAE).POSCO International announced on Jan. 31 that it has signed a “strategic cooperation agreement
CJ Logistics announced on Jan. 31 that it has entered into a strategic partnership for logistics cooperation with Saigon Co.op, a Vietnamese state-owned retail chain giant.Through this partnership, both companies plan to establish a joint task force to collaboratively operate a new logistics center
Alibaba’s international service, AliExpress, has been attracting Korean brands with a ‘zero commission’ policy, potentially disrupting the domestic e-commerce market dominated by Coupang and Naver Shopping.According to the retail industry on Jan. 30, AliExpress is waiving commission fees for Korean
China’s e-commerce giant AliExpress continues to face ongoing controversies in the domestic market, with persistent debates surrounding the sale of counterfeit products and product quality.According to industry sources on Jan. 23, the Chinese cross-border e-commerce platform AliExpress has recently
In response to a warning from the U.S. Chamber of Commerce that the Korean government’s proposed Platform Fair Competition Promotion Act (Platform Act) could violate trade agreements, the Korea Fair Trade Commission (KFTC) said that it will prick up its ears for stakeholders’ opinions.“We would like
Hanwha Ocean and Hanwha Aerospace presented their state-of-the-art defense technologies to Dr. David Perry, President of the Canadian Global Affairs Institute (CGAI). The CGAI is recognized as Canada’s leading source of expertise on global affairs and Dr. Perry’s visit is timely as Hanwha is laying
The government aims to prevent the manipulation of treasury stocks for the enhancement of controlling stakes without additional investments. To achieve this, it has prohibited the issuance of new shares for treasury stocks during corporate spinoffs and strengthened disclosure regulations, including
Last year, South Korea achieved a historic high in whiskey imports, surpassing 30,000 tons. In contrast, wine imports decreased by over 20 percent, showing a downward trend for the second consecutive year.According to the trade statistics released by the Korea Customs Service on Jan. 30, the import
Excessive administration of analgesic drugs frequently results in medical accidents. To prevent the occurrence of these accidents, a drug infusion pump featuring a technology for safely detecting medication administration has been developed for the first time in the world.The research team led by Pr
The race to dominate the 2-nanometer (nm) semiconductor technology is heating up at the beginning of the year, a key battleground among global foundry (semiconductor contract manufacturing) companies.According to industry sources on Jan. 29, major foundry enterprises like Samsung Electronics, TSMC,
Samsung Electronics is set to launch its new Galaxy S24 series in China, featuring “Erniebot,” an artificial intelligence (AI) chatbot developed by Baidu as a response to OpenAI’s ChatGPT.According to foreign media reports on Jan. 29 (local time), Baidu announced that Samsung Electronics will utiliz
Samsung, Kia and other major Korean companies spent a record amount of money on lobbying the U.S. government in 2023 as they prepared for uncertainties in their trade environments.Last year, Samsung Group (Samsung Semiconductor, Samsung Electronics America and Samsung SDI America) spent US$6.3 milli
Korea-based automakers exported 2.76 million vehicles to 196 countries in 2023, according to the Korea Automotive and Mobility Industry Association (KAMA). This was the highest in eight years since 2015. Exports to the U.S. smashed the 1-million-unit milestone.Six Korea-based carmakers -- Hyundai Mo