Only 14 percent of South Koreans work in large companies, versus 58 percent of Americans.Koh Young-sun, a senior research fellow at the Korea Development Institute (KDI), presented this statistic in a report titled “A Need for More Large-Company Jobs” released on Feb. 27, emphasizing the need to exp
Samsung Electronics and SK telecom have embarked on forming alliances with global operators to lead the development of 6G and integrate Large Language Models (LLM) into their services. While Samsung Electronics is co-establishing a consortium with big tech companies across various sectors such as te
Samsung Electronics, SK hynix, and other major semiconductor firms have called for government attention and support in relation to the U.S. government’s impending subsidy payments.During a “Public-Private Semiconductor Strategy Meeting” held on the morning of Feb. 26 at the Korea Chamber of Commerce
Amid growing concerns about expanding trade risks in big election years in 76 countries around the world holding elections, the Korean government has decided to actively manage risk factors through a strategy meeting among industry, academia, and research centers.The Ministry of Trade, Industry and
By combining three key factors—AI-powered real-time translation technology, expertise in professional translation, and know-how in video production—Flitto enhances the competitiveness of K-content and expands its reachFlitto (CEO Simon Lee, KOSDAQ 300080), an AI data solution and professional transl
The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced on Feb. 23 that they held an online briefing on the 2024 Secondary Battery U.S. Investment Strategy to help Korean companies break into the U.S. secondary battery market.The event was
A Korean-owned Ireland-based semiconductor company is reportedly among companies included in a list of those under U.S. sanctions against Russia.According to the Irish Times in Dublin, Ireland-based Cubit Semiconductor was included in the sanctions announced by the U.S. Department of the Treasury’s
On Feb. 20, the Incheon Free Economic Zone (IFEZ) announced the inauguration of Yoon Won-seok, the former executive vice president of the Economic and Trade Cooperation at the Korea Trade-Investment Promotion Agency (KOTRA), as its 8th Commissioner. The position of Commissioner of the Incheon Free E
Samsung is set to hire a large amount of foreign talent in the research and development (R&D) sector. According to industry sources on Feb. 21, Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Biologics, Samsung Bioepis, and Samsung Heavy Industries
Foreign investors who invest in domestic stocks and bonds will see significant improvements in the complex foreign exchange procedures they have faced so far. It is expected that the accessibility of foreign investors to the domestic market and the Korean won will improve.The Bank of Korea and the M
General Motors (GM) is considering investing to build a plug-in hybrid electric vehicle (PHEV) production facility at its Bupyeong plant in Incheon, Korea.GM is considering investing in the construction of a PHEV facility at its Bupyeong plant, according to sources in the automobile industry on Feb.
The government announced today the start of the new project application period for this year as part of its global R&D initiative, aiming to establish a cooperative hub with top overseas research institutions. In particular, through the newly introduced “Top-tier” project, which is valued at 10 bill
The government has extended its support to companies starting businesses overseas, aiming to increase the number of successful Korean startups in the global market. The Ministry of SMEs and Startups announced that amendments to the “Act on Support for Small and Medium Enterprise Establishment” and i
Hyundai Engineering & Construction (Hyundai E&C) has become highly likely to win a project to build Kozloduy Nuclear Power Plant in Bulgaria with a total budget of nearly 19 trillion won, foreign media outlets reported.The Kozloduy Nuclear Power Plant Committee reviewed five proposals and concluded
The Bank of China has lost its lawsuit against South Korea’s tax authorities to cancel a 35.8 billion won (US$26.8 million) corporate tax penalty in a Supreme Court ruling in South Korea. The Supreme Court has confirmed the original ruling that the plaintiffs lost the case against the Jongno Tax Off
SK hynix President and CEO Kwak Noh-jung stated that the company is carefully considering the selection of a site for an advanced packaging facility in the United States, targeting all states.On Feb. 19, CEO Kwak made these remarks during a meeting with the press following the regular meeting of the
The Financial Supervisory Service (FSS) is planning to broaden the range of corporate disclosures accessible to foreign investors in real-time and to introduce a new service exclusively in English called “English Open DART” by the end of the year.On Feb. 18, the FSS announced the road map for improv
As the global political environment is expected to change due to elections in major countries, Korean industries discussed trade issues such as global policy responses with the Korean government. Companies submitted recommendations to the Korean government on trade issues, including difficulties in
For the first time in 25 years since the foreign exchange crisis, South Korea’s economic growth rate last year fell behind Japan. However, projections indicate South Korea is expected to outpace Japan again this year. Due to prolonged low growth, Japan’s economic size has slipped to the place of fou
Samsung Electronics has entered the competition for a cutting-edge 2-nanometer (nm, one billionth of a meter) foundry process and has secured an order to produce 2-nm semiconductors from a Japanese artificial intelligence (AI) company.According to industry sources on Feb. 15, Samsung Electronics has