KT&G has rejected the request of an activist-oriented private equity fund to file a lawsuit seeking damages against its former and current directors.On Feb. 7, KT&G announced that it had decided not to file a lawsuit regarding the request from Flashlight Capital Partners (FCP), a private equity fund
Due to the strength of the U.S. dollar, the foreign exchange reserves decreased last month for the first time in three months.According to the statistics of the “Foreign Reserves as of the End of January 2024” publication released by the Bank of Korea (BOK) on Feb. 5, South Korea’s foreign reserves
For the third year in a row since 2020, HL Mando changed the first digit of its annual sales figure, ushering in the era of 8 trillion won in sales.HL Mando announced on Feb. 5 that its sales increased 11.7 percent from the previous year to 8.3930 trillion won (US$6.3255 billion) and its operating p
It has been belatedly confirmed that an Indonesian researcher working on secondment at Korea Aerospace Industries (KAI) is being investigated for alleged leakage of data related to the South Korean supersonic fighter jet, the KF-21 “Boramae.” It has been reported that a total of 49 files were discov
Expectations of an increase in the corporate value of domestic listed companies are attracting foreign capital to the South Korean stock market. Particularly, there is a concentrated buying interest in automotive stocks, including Hyundai Motor, and growth stocks in industries such as artificial int
Pernod Ricard Korea, the Korean affiliate of the wine and spirits company Pernod Ricard, joins hands with five leading bars in Korea that pursue sustainability to conduct the responsible drinking campaign “Drink More Water.”Based on “Responsible Hosting,” one of the Group’s Sustainability & Responsi
GS E&C’s business license has been suspended for eight months for the collapse of an underground parking lot that occurred in 2023. A lot of attention is now being paid to whether its business operations will be affected by the suspension.According to sources in the construction industry on Feb. 2,
IMM Investment has joined the United Nations Principles for Responsible Investment (UN PRI) to strengthen responsible investment.As of January 2024, IMM Investment announced that it officially signed and completed the formal membership process with the UN PRI. IMM Investment stated that the membersh
Cho Dong-chul, the president of Korea Development Institute (KDI), publicly issued a stark warning on government debt, going so far as to state, “The country will collapse.” In particular, he cautioned that South Korea’s national debt-to-gross domestic product (GDP) ratio could skyrocket to over 250
SK Networks, through its US affiliate, which has expanded direct and indirect investments in early-stage companies home and abroad, harnessing its global network and investment management processes, has successfully attracted external limited partners (LPs), a rare move in the world of corporate ven
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 government aims to prevent the manipulation of treasury stocks for the enhancement of controlling stakes without additional investments. To achieve this, it has prohibited the issuance of new shares for treasury stocks during corporate spinoffs and strengthened disclosure regulations, including
As of November last year, the National Pension Fund’s (NPS) rate of return approached double digits. Despite concerns about a global economic downturn, the strength of the stock market resulted in the evaluation of the fund’s assets surging to nearly 1 quadrillion won.The NPS Investment Management d
The Ministry of SMEs and Startups (MSS) is actively moving forward with the designation of new global innovation districts this year. Simultaneously, it is focusing its efforts on strengthening global collaboration programs to foster the venture ecosystem. The ministry plans to strengthen support fo
Samsung Electronics is set to revolutionize the Chinese smartphone market with its upcoming artificial intelligence (AI) phone, the Galaxy S24 series, featuring Baidu's generative AI. This strategy, aimed at enhancing AI service quality through collaboration with various AI partners and capturing th
At the beginning of this year, the Consumer Electronics Show (CES) 2024, the world’s largest consumer electronics and IT exhibition, brought into focus the trend of “on-device AI,” or artificial intelligence operating within the device. The emergence of devices equipped with this technology is injec
Experts are anticipating that the economic growth rate for South Korea will reach 2.2 percent this year. This aligns with the forecasts presented by the government and the International Monetary Fund (IMF), both indicating a 2.2 percent growth. It slightly surpasses the Bank of Korea’s projection of
LG Energy Solution is advancing into securing next-generation lithium metal battery technology through equity investment in Sion Power, a U.S.-based battery development venture. On Jan. 25, LG Energy Solution announced its equity investment in Sion Power, located in Arizona in the U.S., and agreed t
Seegene announced on Jan. 24 its collaboration with Microsoft to promote a technology-sharing project aimed at realizing the vision of a “World Without Disease” during a meeting in London, the U.K.Through this collaboration with Microsoft, Seegene plans to share its unique Syndromic Quantitative PCR
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