Hak Cheol Shin, CEO of LG Chem, has been selected as one of the top 100 economic leaders representing the World Economic Forum (WEF). At this year’s forum, CEO Shin will meet with global clients and partners to discuss collaboration strategies for managing the global supply chain and overcoming the
The Korean beauty care industry is turning its eyes to the Japanese market. It is a strategy to try to rebound by targeting Japan as an alternative market as its performance weakened due to a decline in the market share of Korean cosmetics in China.LG Household and Health Care’s cumulative sales thr
SK ecoplant is strengthening cooperation with the US state of Nevada, which is rising fast as a hub for the U.S. electric vehicle and battery industry.SK ecoplant announced on Jan. 14 that it had a business meeting with Nevada Governor Joe Lombardo at a Las Vegas plant of its recycling subsidiary TE
The number of technical regulations notified by World Trade Organization (WTO) member countries in 2023 exceeded 4,000 for the first time ever, a record high, showing that technical barriers to trade were rising among countries.The Korean Agency for Technology and Standards under the Ministry of Tra
It has been reported that China, which has implemented export controls on graphite, a key material for battery cathodes, since December of last year, has granted permission for the export of graphite to major battery companies in South Korea. However, there remains the possibility of further tighten
Vice President Kim Dong-sun of Hanwha Robotics has been visiting global sites in the new year to explore strategies for overcoming the economic crisis and for future industries. Particularly, he has exchanged diverse opinions with global CEOs about synergies between traditional industries and advanc
Due to a slowdown in global demand for electric vehicles, leading to an “oversupply,” the prices of battery materials have significantly fallen. Companies in this sector are noticeably tense. According to Taiwan’s market research firm TrendForce on Jan. 14, in December last year, the prices of lithi
Samsung Electronics’ first artificial intelligence (AI) smartphone, the Galaxy S24 series, is set to be unveiled on Jan. 18.According to industry sources on Jan. 14, Samsung Electronics will reveal the Galaxy S24 series at its first half of the year product launch event, Galaxy Unpacked 2024, schedu
The Ministry of Science and ICT and the Ministry of the Interior and Safety announced on Jan. 9 that they will take follow-up measures to establish the Korea AeroSpace Administration (KASA) in earnest, as three bills related to the agency passed a plenary session at the National Assembly.In November
The heads of the four major Korean conglomerates are expected not to participate in this year’s Davos Forum.Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo will not attend the 2024 Davos Forum,
Chey Jae-won, vice chairman of SK Group, stated on Jan. 10 (local time) that significant progress has been made in the development of cylindrical batteries. He also mentioned that while it’s challenging to predict the exact timing of SK on’s IPO due to internal and external conditions, it will proce
A bill to amend the Petroleum and Petroleum Alternative Fuel Business Act passed the National Assembly’s plenary session on Sept. 9, paving the way for refiners to produce sustainable aviation fuel (SAF).SAF is an aviation fuel derived from renewable biomass or carbon dioxide. It has the same compos
Rongsheng Petrochemical, China’s largest petrochemical company, will begin a major expansion of petrochemical products at the beginning of the new year. The expansion portfolio includes intermediate raw materials and synthetic resins, which are the main products of Korean petrochemical companies.Ron
Following the largest fine ever imposed by the Fair Trade Commission due to a game item probability manipulation controversy, Nexon announced improvements just one week later.On Jan. 9, Nexon apologized for the recent controversy in a live broadcast starting at 6 p.m. and announced the suspension of
According to the BioEconomy Research Center of the Korea Biotechnology Industry Organization on Jan. 10, WuXi Biologics, a leading Chinese biopharmaceutical Contract Development and Manufacturing Organization (CDMO), is confirmed to be constructing a commercial biopharmaceutical raw material product
POSCO International announced on Jan. 10 its plan to supply Hyperloop-specific steel to the European Hyperloop Center (EHC) within the European Union (EU) for an additional test section project this year. A total of 275 tons of the steel developed and produced by POSCO, called POSLOOP355, has been s
The Supernal, a subsidiary of Hyundai Motor Group’s AAM division, took the wraps off a full-scale model of its next-generation vertical takeoff and landing aircraft, the S-A2, for the first time at CES 2024, the world’s largest consumer electronics and information technology (IT) exhibition that kic
The sale of GS E&C’s subsidiary GS Inima will begin in earnest from February.According to sources in the investment banking (IB) industry on Jan. 10, GS E&C will distribute an investment prospectus for the sale of a stake in its wholly owned subsidiary GS Inima before the Lunar New Year holiday in F
On Jan. 10, the Ministry of SMEs and Startups (MSS) announced the results of its Venture Enterprise Detailed Survey, analyzing the management performance, employment, and research and development (R&D) of venture companies as of the end of 2022.According to the MSS, the average revenue of venture co
Doolim-Yaskawa, a leader in the robot-based automation industry, is supplying a painting automation solution to Hyundai Motor Group's US car factory. Last month, they completed the Off-Line Test (OLT) of their robot system in their own factory and announced that they are currently working on a proje