On Feb. 14, President Yoon Suk-yeol stated, “We will strive to position South Korea as the most favorable destination for businesses worldwide.”President Yoon hosted a luncheon meeting with foreign investment company representatives at the Korea Chamber of Commerce and Industry building in the Jung
The European Union (EU)’s decision to approve a Korean Airlines-Asiana Airlines merger is fast approaching, drawing more attention from the airline industry. While many experts believe that approval will be given with some conditions, a formal outcome has not come out, keeping both airlines on edge.
China is dominating the global battery market backed by overwhelming growth in its home market. Stopping China’s rise in the global battery industry has become a big challenge for Korea, which ranks second in the market behind Chinese companies as well as the United States and Europe.Six of the worl
The CEO Candidate Recommendation Committee of POSCO Holdings finally chose former POSCO President Jang In-hwa, a long-time POSCO insider, with rich experience in the steel business.POSCO Holdings held an extraordinary board meeting on Feb. 8 and resolved to select former POSCO President Jang In-hwa
The domestic copper foil industry is strategically increasing investments in North America and Europe, aiming to gain a competitive advantage over China, which is launching a low-cost offensive in the medium to long term.As of Feb. 7, industry sources indicate that Lotte Advanced Materials plans to
On Feb. 6, TikTok, the global short-form platform, revealed its content moderation methods aimed at creating a “safe platform environment.” The company disclosed that its content guidelines are enforced through a combination of artificial intelligence (AI) technology and human content moderation tea
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), who visited Hanwha facilities from January 23-24. The CGAI is recognized as Canada’s leading source of expertise on global affairs an
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
The South Korean government is gearing up for the successful launch of its own version of NASA, the Korean Aerospace Administration (KAA), set to open in May. The Ministry of Science and ICT reported on Jan. 29 that it has been engaging with major international space agencies, including the U.S. Nat
AI audio company Gaudio Lab announced on Jan. 30 that its Just Voice technology has been named a finalist in the Audio Experience category of the Innovation Awards at South by Southwest (SXSW).SXSW began in 1987 as a small music festival in Austin, Texas and has grown to become a conference and fest
With about one week to go until the end of negotiations for the sale of HMM, new uncertainties are affecting the future of the negotiations as global shipping industry alliances begin to reorganize. With the management of HMM in limbo as Denmark’s Maersk and Germany’s Hapag-Lloyd form a new alliance
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
Despite halting operations at their Russian appliance factories for over a year due to the Ukraine war, Samsung Electronics and LG Electronics have not yet decided to sell. Instead, they are considering minimizing losses by leasing these facilities to local businesses.According to industry sources o
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
Hyundai Mobis (KRX 012330) has rewritten the history of overseas orders for global automakers by capitalizing on the ‘electrification’ trend last year. Surpassing its annual target significantly, Hyundai Mobis has inaugurated the era of overseas orders exceeding KRW 10 trillion. The company plans to
Korean defense companies are set to continue their growth trajectory this year by securing additional orders from various countries around the world. Building on last year’s momentum, which saw an expansion in both the range of export destinations and weapon systems, these companies are aiming for q
Pernod Ricard Korea, the Korean affiliate of the global liquor company Pernod Ricard Group, announced the release of its ‘Drink More Water Staff Challenge’ video on the official LinkedIn channel of Pernod Ricard, targeting the festive season of End-of-Year, New Year’s Day, and Lunar New Year, when m
Hyundai Wia announced on Jan. 24 that it signed contracts to supply a total of 1.450 trillion won (US$1.086 billion) worth of constant velocity joints with European and North American automakers in 2023.Constant velocity joints are core parts of automobiles that transmit power generated by motors or
Representatives of foreign chambers in South Korea, including those from the United States, Europe, and Japan, have proposed plans for improvement to boost investment in South Korea.The Korea Chamber of Commerce and Industry (KCCI) held the “2024 Foreign Chamber Day: Meeting with Foreign Chambers in
The Ministry of Trade, Industry, and Energy (MOTIE) has announced plans to achieve a US$700 billion export target this year. To attain this goal, the ministry will tailor export strategies per market by dividing them into key, strategic and emerging categories such as the United States, China, the E