The South Korean economy is getting worse and worse. Its exports and capital expenditures fell for 10 months and nine months in a row from a year earlier, respectively. Although the South Korean government is mentioning a global economic slowdown, experts are pointing out that the deterioration is d
Nearly half of overseas real estate funds are posting a loss, according to data from the Financial Supervisory Services (FSS).Out of 401 overseas funds managed by South Korea’s top 15 asset management companies, 191, or 48 percent, of them recorded negative returns, according to the FSS data submitt
As the interest rates of South Korean bonds have increased more than 20 percent over the past month, domestic securities companies which own 212 trillion won (US$176.37 billion) worth of bonds are on alert. A rise in bond interest rates means a fall in bond prices. Therefore, the financial soundness
The United States decided to impose punitive tariffs on EU products from Oct. 18. This means South Korea’s export conditions will be further exacerbated.According to the Ministry of Trade, Industry and Energy, South Korea’s monthly exports have shown a year-on-year decline since December last year.
The Japanese government’s export curbs against South Korea have entered their third month, and yet South Korean companies are not being seriously affected. Rather, some of them have succeeded in replacing imports from Japan although their dependence on Japanese fluorine polyimide, photoresist and hy
The Ministry of Science and ICT has announced that the "World of Large Facilities" (WOLF) would be put into service this month. The WOLF is a system for real-time information and data sharing between large research facilities located in South Korea and Europe.The system is connected to the Zone for
POSCO announced on Oct. 1 that it has completed a high-alloy stainless steel manufacturing system for desulfurization equipment in about half a year this past summer.The mass production system is contributing to South Korean shipbuilders, which must make a choice out of three options with IMO 2020 s
SK Hynix announced on Oct. 2 that the Japanese government allowed it to import hydrogen fluoride from Showa Denko late last month and the chemical compound is being transported. It is said that SK Hynix can use it for at least two months. Earlier, the Japanese government issued the same export permi
Chinese auto parts manufacturers are increasing their presence at a rapid pace in the global market. This is because the Chinese car market itself is very large to the point of representing 30 percent of annual automobile production and Chinese carmakers and auto parts manufacturers are currently in
China's Contemporary Amperex Technology Co. (CATL), which has emerged as the world leader in electric vehicle (EV) batteries by overtaking Japan’s Panasonic, is establishing a new battery production base.CATL announced that it would set up an EV battery production base in Yibin City, Sichuan Pro
South Korea's major conglomerates have recently revealed their blockchain strategies. Executives who lead the blockchain business at major firms, such as Samsung Electronics Co., SK Telecom Co., KT Corp., Hyundai BS&C Co. and LG CNS Co., unveiled their ongoing blockchain projects during D.FINE,
The daily turnover of South Korea's stock market sank to a 10-month low in September.The daily transactions on the main KOSPI and secondary KOSDAQ markets averaged 8.49 trillion won (US$7.07 billion) last month, according to the data released by Korea Exchange (KRX) on Oct. 1. It marked the lowe
Samsung BioLogics has won its patent invalidation trial against Lonza Group, a Swiss multinational, chemicals and biotechnology company headquartered in Basel. The Korean company announced on Oct. 1 that the Intellectual Property Trial and Appeal Board ruled in favor of it on Aug. 29.The suit, which
The Ministry of Trade, Industry and Energy announced on Oct. 1 that South Korea’s exports and imports totaled US$44.71 billion and US$38.74 billion in September this year, down 11.7 percent and 5.6 percent from a year ago, respectively. Last month, South Korea posted a trade surplus for the 92nd con
The Cabinet passed amendments to labor-related acts for ILO convention ratification on Oct. 1. Although the ball is now in the court of the National Assembly, it is unlikely to pass the bills with workers and employers showing very different views and opposition parties claiming that the ratificatio
International credit rating agency S&P lowered its South Korean economic growth forecast for this year from 2 percent to 1.8 percent in three months on Oct. 1 with the South Korean economy facing declines in exports and investment. The agency said that the prolonging trade war between the United Sta
CODE42, an autonomous transportation-as-a-service startup established in March this year, announced on Oct. 1 that it has successfully raised 30 billion won (US$25 million) in Pre-A funding, with investment by major Korean conglomerates including Kia Motors, SK Telecom, LG Electronics, and CJ Corp.
The Construction Business Division of Samsung C&T announced on Sept. 30 that it has won a combined cycle power plant project in Bangladesh awarded by Reliance Bangladesh LNG & Power Limited.The Meghnaghat Combined Cycle Power Plant porject will cost US$630 million, which equals 2.43 percent of Samsu
South Korea’s top five commercial banks have earned nearly 2 trillion won (US$1.67 billion) in fees on sales of derivative products over the past five years.Kookmin, Shinhan, Woori, Hana and Nonghyup Bank received 1.98 trillion won (US$1.65 billion) in commissions on sales of derivate products from
South Korea’s state-run Korea Development Bank (KDB) has officially kicked off a sale process for KDB Life Insurance, formerly Kumho Life. Private equity funds at home and abroad or financial groups which do not own life insurance companies, such as KB Financial Group and Woori Financial Group, are