Kolon Group is in the biggest crisis since its foundation as the Ministry of Food and Drug Safety has revoked the license of Kolon Life Science's Invossa-KInj. Invossa has been regarded as the biggest achievement of the former group chairman Lee Woong-yeul, who used to say that he invested a thi

Aekyung Group, a Korean cosmetics-to-health care conglomerate that owns low-cost carrier Jeju Air Co., is entering a bidding battle for Asiana Airlines Inc.Recently, the group has disclosed its intention to take over the financially troubled full-service carrier, while major business groups, such as

The price of Bitcoin has recovered to the 10 million won (US$8,435) range.The rebound is attributed to an increasing number of investors injecting money into cryptocurrencies amid increased variability in the global economy and global companies' moves to bring the virtual coin into the financial

The Korean Agency for Technology and Standards (KATS) announced on May 26 that the micro fuel cell power system it has proposed to the International Electrotechnical Commission (IEC) has been registered as an IEC international standard (IEC 62282-6-400).This is the first big achievement since the go

Sluggish demand due to China's economic downturn and the U.S.-China trade war is cutting into the profitability of Korean oil refining and chemical industries.Industry sources forecast on May 26 that the operating profit of major oil refiners and chemical companies such as SK Innovation, LG Chem

LG Electronics will increase its output of household appliances for the first time in five years. The company has been suffering an output reduction as it continued to scale back production of low-priced products due to a price war with Chinese companies. But this year, the company is ramping up pro

The operation rate of Kia Motors' plant in Georgia, the United States, has exceeded 80 percent. Full-scale production of the Telluride, a large sport utility vehicle (SUV) model, has boosted the plant's operation from 70 percent last year. The North American automobile market is expected to

A total of 1,600 American companies returned to their home country from 2010 to 2016. Likewise, 160 European and 724 Japanese companies reshored from 2016 to 2018 and in 2015, respectively. On the other hand, merely 41 South Korean companies did so from 2012 to 2017. Besides, no large South Korean c

The Donald Trump administration decided on May 23 (local time) to impose countervailing duties on countries it regards as currency manipulators. This means the United States has added foreign exchange rates to its trade war.This attempt to connect tariffs to foreign exchange rates can lead to an all

An increasing number of South Korean investors are getting interested in real estate in foreign countries, especially the United States and Japan where regulations are relatively lax and property values are stable.KEB Hana Bank held a seminar on the global real estate investment strategy at its head

Hyundai Motor is ready to launch the Kona EV in China as the purely electric SUV has been certified in China. The Korean automaker hopes to see a recovery in its sales as competitive new models, including the Kona EV, will be launched in the Chinese market.Hyundai Motor's Kona (Chinese name Enci

The South Korean government is planning to limit its electric bus subsidies to those equipped with batteries meeting strengthened safety standards. This is to assuage South Korean companies’ complaints that the government has provided subsidies for Chinese electric buses whereas no subsidies have be

The United States Department of Commerce recently fixed its countervailing duty on POSCO’s hot-rolled steel sheets at 41.57 percent after the United States Court of International Trade told the department to recalculate it for lack of reasonable grounds. Earlier, the department imposed a countervail

Short sellers are taking advantage of block deals and the inclusion of certain stocks in the Morgan Stanley Capital International (MSCI) Korea index.Recently, shorting on Celltrion Healthcare Co. surged before a block deal carried out by One Equity Partners, the company’s second largest shareholder.

Kumho Asiana Group is facing difficulties in selling off its stake in struggling Asiana Airlines Inc. Domestic business groups that were considered potential buyers, such as SK and Hanwha, all announced that they are not considering acquiring Asiana Airlines, raising the possibility that the stake s

Samsung Electronics and LG Electronics will launch budget phones with premium specifications next month.Samsung Electronics will release the Galaxy A50, while LG Electronics will roll out the X6. These new products are both equipped with a triple lens camera.The Galaxy A50 is Samsung's first bud

Chinese TV makers are putting mounting pressures on their Korean competitors. In the premium TV market, Korean companies are still in control but in the low-priced TV segment, Chinese companies are expanding their control.Chinese TV maker TCL’s market share reached 10.8 percent in terms of volume in

One Equity Partners, a major shareholder of Celltrion Healthcare Co., has sold a 4.5 percent stake, or 6.50 million shares, in the firm for 390.6 billion won (US$327.05 million).One Equity Partners is the private equity arm of JPMorgan Chase. In September last year, it raised 400 billion won by sell

About 10 individual shareholders of Korea Electric Power Corp. (KEPCO) staged a rally in front of the company’s branch in Gangnam-gu, Seoul, on May 20, letting off steam about the state-run power distributor's operating losses caused by the government’s nuclear phase-out policy and the resultant

LG Electronics' V50 ThinQ, a dual-screen 5G smartphone, surpassed 100,000 units in sales in just one week after its launch. The figure is more than four times that of the previous model V40 ThinQ.The impressive performance of the V50 ThinQ is attributable to the three mobile carriers’ fierce com