Renault Korea Motors said on Jan. 12 that it is seeking to expand exports in response to a contraction in domestic sales, but is facing difficulties in securing vessels for car exports.Renault Korea Motors and its partners said France’s Renault Group may transfer production of the XM3 and new models
Robert Hood, vice president of government affairs at Hyundai Motor Co., said on Dec. 15 that the company may reconsider the economic feasibility of its electric vehicle (EV) plant in Georgia if the U.S. Inflation Reduction Act has an increasing adverse impact on it.The plant in Georgia is scheduled
Shinhan Financial Group announced on Dec. 14 that it has joined the world's leading financial institutions in calling on world leaders to adopt an ambitious post-2020 Global Biodiversity Framework at the U.N. Biodiversity Conference, COP15.A total of 150 global financial institutions, representi
South Korean Trade Minister Ahn Duk-geun remarked on Dec. 6 that the United States is likely to treat South Korea and the European Union the same way with regard to the Inflation Reduction Act. He is currently staying in Washington, D.C. to discuss the impact of the act on South Korean electric vehi
The general strike of cargo transport workers of the Korean Confederation of Trade Unions is continuing for two weeks, and yet more and more of the workers are returning to work.The cement shipments dropped to 10 percent of the normal level immediately after the strike started. However, the ratio re
Multiple organizations are calling for the government to correct what is wrong in its fisheries agreement with China. “According to the agreement, the same rules are applied as to vessel count, catch, and so on in the EEZ on the other side, but China’s catch has exceeded 10 times South Korea’s due t
The U.S. Federal Open Market Committee has raised the federal funds rate by 75 basis points, to a range of 3.75% to 4%. The interest rate gap between the United States and South Korea has widened to 1 percentage point and the Bank of Korea is in a serious dilemma with its last key rate decision for
The Federation of Korean Industries released a report on Nov. 2 to compare the labor laws and regulations of South Korea, the United States, the United Kingdom, Germany, France and Japan. According to the report, those of South Korea are less flexible in terms of working hours and worker dispatch, t
Hyundai Motor Group has selected Slovakia as a bridgehead for its foray into the European electric vehicle (EV) market. Kia Corp.'s Slovakia plant will mass-produce pure battery electric vehicles (BEVs) for Europe beginning from 2025.Kia is planning to produce small and medium-sized EVs speciali
Huawei's 13th Global Mobile Broadband Forum (MBBF) kicked off in Bangkok on Oct. 25 with a keynote from the company's rotating chairman, Ken Hu."5G has grown faster than any previous generation of mobile technology," began Hu. "In just three years, we've seen solid progress in network de
Fake news and information are following one after another regarding President Yoon Suk-yeol’s recent visits to the United Kingdom, the United States and Canada. The spread of such news and information has been led by left-wingers’ terrestrial broadcasting programs.It is MBC that spread the most seri
After Nvidia failed to acquire ARM, Samsung Electronics, SK Hynix, Qualcomm and Intel are being mentioned as those most likely to acquire the U.K. chip designer, whose mobile chip design market share amounts to 90 percent.ARM's scope of business exactly matches the weak points of the South Korea
Lawmakers of the opposition Democratic Party of Korea and Justice Party are calling for a revision of the Trade Union and Labor Relations Adjustment Act so that no damage suits can be filed against strikers. In response, employers are demanding alternative employment so that they can be protected fr
Korea National Oil Corp. (KNOC) is considering acquiring the Dorado Field, an Australian offshore oil field consisting of six blocks. Exploration in the first block is already completed, it contains 150 million barrels, and its average daily output is estimated at 100,000 barrels. Located in the Roe
The European Union and Japan, as well as South Korea, are objecting to the U.S. Inflation Reduction Act, pointing out that the United States is violating the principle of fair competition. European Commission Executive Vice President Valdis Dombrovskis and U.S. Trade Representative Katherine Tai dis
The International Union for Conservation of Nature announced on Sept. 4 that washed microfibers account for 35 percent of marine microplastics. According to it, washing of synthetic fiber clothing leads to fiber decomposition and the resultant microplastics flow to the sea. According to experts, was
The Financial Supervisory Service announced that suspicious cross-border remittances via South Korean banks are at least US$6.54 billion and most of the remittances were made from domestic cryptocurrency exchanges.“This fact implies that most of the remittances to China, Hong Kong, and so on via tra
Samsung Electronics has issued an official apology for the recent series of glass door breakage of its drum washers and started to provide free door replacement services.“Recently, there have been cases where the door glass of some Samsung Electronics drum washing machine models came off due to poor
The Associated Press reported on Aug. 9 (local time) that Kia Corp. was voluntarily recalling nearly 260,000 units of the K5 sedan (local name: Optima) in the United States.Kia disclosed the recall of model year 2012 and 2013 Optima cars through a document posted on the website of the National Highw
About 10 Hyundai Steel union members have occupied the president’s office at Dangjin Steel Works since May 2 and have been protesting, calling for payment of special incentives. As a result, Hyundai Steel president Ahn Dong-il has been unable to work at the company’s main production facility for mor