Micron Technology, alongside other leading artificial intelligence (AI) semiconductor companies like Intel, has ramped up efforts to challenge industry front runners. According to semiconductor industry sources on Dec. 24, Micron, the third-largest DRAM manufacturer globally, is currently undergoing
With its wit and freshness, Premium vodka ABSOLUT, which represents Pernod Ricard Korea Co. Ltd (Pernod Ricard Korea), has collaborated with the globally renowned design studio Sticky Monster Lab and Olly Alexander-an active composer, an actor, and the front man of the British Band Years&Years-and,
On the morning of Dec. 23 a fire broke out at POSCO’s Pohang Works, temporarily halting the operation of three blast furnaces. The government and POSCO said that the restart of the furnaces after putting out the fire would not cause any major disruption to the production and supply of products. Howe
Top executives from major South Korean conglomerates are set to make a strong presence at “CES 2024,” the world’s largest Information Technology (IT) and consumer electronics expo to be held in Las Vegas, Nevada, in the U.S. next month.According to business sources on Dec. 25, key executives from ma
In the latter half of this year from July to November, the top-ranked app in domestic shopping categories for downloads, according to data from IGAworks, is the Chinese app Temu. Temu’s monthly active users (MAU) have surged sevenfold in just three months. The market share of AliExpress, the oversea
Chinese online retail giant AliExpress has emerged as the fastest-growing app in South Korea this year. According to WiseApp, an app and retail analytics service, AliExpress is the app that has had the most users in South Korea over the past year. AliExpress had only 3.36 million users in January, b
SK ecoplant is positioning itself as a domestic powerhouse in offshore wind power, one of the most prominent eco-friendly energy business alongside the solar power business. SK ecoplant is jointly developing an offshore wind power ocean energy project. The project is to build floating and fixed offs
In the future, cryptocurrency issuing companies will no longer be able to arbitrarily recognize profits or assets.The Securities and Futures Commission (SFC) under the Financial Services Commission (FSC) announced on Dec. 21 that it had passed the “Supervisory Guidelines for Accounting Treatment of
The Financial Supervisory Service (FSS) is reportedly seeking a combined fine of 20 billion won (US$15.36 million) for BNP Paribas and HSBC, both of which have engaged in naked short selling. The FSS aims to impose an individual fine of 10 billion won on each of the financial institutions.Bloomberg
Samsung Electronics is set to establish an advanced semiconductor packaging research and development (R&D) base in Yokohama, Japan. The company plans to invest 40 billion yen into this area by 2028.The Japanese Ministry of Economy, Trade and Industry, along with the city of Yokohama, announced on De
For the first time in four years, business leaders from South Korea and China are meeting in Seoul to identify industries for cooperation between the two countries and to discuss future initiatives such as supply chain cooperation and carbon neutrality.The Korea Chamber of Commerce and Industry (KCC
South Korea’s growing imports of secondary battery materials and intermediate goods from China were blamed for South Korea’s trade balance with China which is expected to post its first deficit in 31 years.According to the Bank of Korea (BOK) on Dec. 20, South Korea’s trade balance with China posted
As Kakao Corporation and its executives face trial over allegations of stock manipulation involving SM Entertainment, controversy arises within Kakao Pay, a subsidiary that has been pursuing the acquisition of management rights of Siebert Financial, a U.S.-based securities firm, since the beginning
Hyundai Motor Group (the Group) today announced key executive appointments for the second-half of the year 2023. Through the appointments, the Group aims to strengthen its leading position in future mobility solutions and innovations and better prepare for uncertainties in the global business enviro
The government will build 10,000 “smart plus” buildings specializing in robots, drones, autonomous vehicles and urban air mobility (UAM) by 2035.The Ministry of Land, Infrastructure, and Transport (MOLIT) announced a road map for the promotion of smart plus buildings as an innovation policy in the s
Hyosung Goodsprings, a specialized pump affiliate of Hyosung Group, announced on Dec. 19 that it has become the first pump company in the Asia-Pacific region to obtain an ISO 19443 certification, an international nuclear power quality management standard.Compared to other international standards, th
Hyundai Motor plans to sell its Russian plant, which has been idle for nearly two years, to a local company for a mere 140,000 won (US$107.12). However, the contract includes a “buyback” clause, allowing Hyundai to repurchase the facility within the next two years, in anticipation of the possibility
Chairman Lee Chan-hee of Samsung Group’s Compliance Committee revealed on Dec. 19 that, if necessary, the committee plans to convey opinions or recommendations in response to a foreign hedge fund’s call for reforms in Samsung’s corporate governance structure.Speaking to reporters before attending th
Samsung Electronics and Naver have unveiled their jointly developed artificial intelligence (AI) semiconductor, which has been in development over the past year. Known for its power efficiency being approximately eight times greater than chips from competitors like Nvidia, this product is expected t
A South Korean company’s overseas gas field project, which had been suspended for nearly a year due to local opposition, has dramatically resumed thanks to intergovernmental cooperation.The Australian Maritime Safety Authority approved an environmental license for SK E&S to drill an offshore gas fie