Naver and Samsung C&T are joining forces to expand their future business ecosystems by leveraging each other’s capabilities. On Feb. 28, Naver Cloud and Naver Labs, along with the Construction Division of Samsung C&T, announced that they have signed a Memorandum of Understanding (MOU) at the Naver 1
Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units.The Onboard CCS demonstration unit is scheduled to undergo c
Kolon Industries will establish a joint venture with private equity firm Hahn & Company for industrial film manufacturing.On Feb. 27, Kolon Industries announced that it was considering establishing a joint venture (JV) with Hahn & Company for its film business and signed a binding memorandum of unde
By the end of 2023, more than 300 5G commercial networks had been launched worldwide, serving more than 1.6 billion users. 5G development is now well underway, with the growth rate of global 5G users reaching seven times higher than that of 4G users in the same period. Operators using Huawei solutio
HYBE has become the first entertainment company in South Korea to surpass 2 trillion won in annual sales. The significant sales and streaming achievements of BTS and Seventeen have been identified as major contributors to this success.HYBE announced on Feb. 26 that its sales on a consolidated basis
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
Consumers of Samsung Electronics’ Galaxy S22 series have filed a compensation lawsuit claiming that the Game Optimizing Service (GOS) installed in the product series degraded device performance. Samsung Electronics countered, stating, “There is a significant difference from the incident related to p
On Feb. 23, KB Kookmin Bank held the grand opening ceremony of KB Prasac Bank in Phnom Penh, the capital city of Cambodia.Approximately 700 individuals attended the event, including the Governor of the National Bank of Cambodia Chea Serey and the Ambassador of Cambodia to Korea Chring Botum Rangsay
KG Mobility (KGM) announced on Feb. 22 that it posted sales of 116,699 units and 3.78 trillion won (US$2.84 billion), operating income of 5 billion won and net profit of 1.2 billion won based on an unconsolidated basis in 2023.KGM said the results were driven by productivity improvements and cost re
The government is focusing its policy efforts on “normalizing the nuclear power industry ecosystem.” It has come up with support measures encompassing advancing research and development (R&D), facilitating job opportunities, extending financial aid, and offering tax incentives.On Feb. 22, the govern
Korea’s leading chicken brand BHC Chicken is embroiled in controversy for replacing its boneless chicken menu with cheap Brazilian chicken and at the same time raising its price.BHC Chicken switched its source of boneless chicken to Brazil in May 2023, according to industry sources on Feb. 22. Howev
A new mega labor union, formed through the collaboration of four Samsung Group affiliates, has emerged. The union comprises over 10,000 members. While there have been instances of certain unions cooperating in solidarity in the past, this marks the first time such a unified form of establishment has
The government plans to accelerate the expansion of K-food exports. It aims to achieve exports of US$13.5 billion this year and has set a target of US$23 billion by 2027.On Feb. 20, the Ministry of Agriculture, Food and Rural Affairs announced the “K-Food+ Export Innovation Strategy” to nurture K-fo
The KIMM has succeeded in conducting the cooling test of a large-capacity ultra-low temperature (hereinafter referred to as ULT) Turbo-Brayton cooling system using a zero GWP refrigerant.The research team led by Principal Researcher Junseok Ko of the Department of Energy Storage Systems of the Korea
The Fair Trade Commission (FTC) is targeting franchise businesses owned by private equity funds. In particular, tensions within the industry have escalated recently after Mom’s Touch was fined 300 million won (US$225,989) for unfair practices towards its franchisees.Yook Sung-kwon, the Secretary Gen
The criticism against Chinese e-commerce companies, which aggressively enter the domestic market with ultra-low prices, is growing due to their disregard for relevant laws while operating within the country. There are numerous complaints about these companies consistently sending advertisements that
Despite the current economic downturn, South Korea’s top three battery manufacturers are ramping up their investments in infrastructure this year to strengthen their business foundations. According to industry sources on Feb. 18, LG Energy Solution plans to invest approximately 10.9 trillion won in
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.With the launch of Crimson Desert having been postponed to 2025, operating losses appear inevitable for Pearl Abyss in 2024. However, as Crimson Desert is an AAA-grade new game targeting the globa
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.C&C International’s 4Q23 results met consensus, if excluding incentive compensation. As of 1Q24, domestic and North America-focused orders are up 80% y-y. Backed by hit products from multiple indie
KEPCO KPS has signed a trilateral memorandum of understanding (MOU) with X-energy and DL E&C for the development of technology and business related to non-light water reactor-type fourth generation small modular reactors (SMRs).Under this agreement, the three parties, including KEPCO KPS, will colla