The food and alcoholic beverage industry has fallen into a unique pop-up store. In particular, pop-up stores with stories that can show the brand's philosophy, history, and characteristics, not just introducing products, are increasing. In this era when pop-up stores have become a necessity, not an
Chinese lithium iron phosphate (LFP) batteries will be brought to Korea in large numbers. As electric buses and electric scooters that use LFP batteries have penetrated the Korean market, major automakers are also expanding the volume of Chinese-made LFP batteries for electric vehicles. The problem
SK IE Technology (hereinafter referred to as “SKIET”) has established a global-level advanced information security system. The company plans to use this as a leverage to enhance information security reliability for its client companies and to acquire new clients as well.SKIET announced that it has o
Despite the waning of the “king dollar” phenomenon that prevailed last year, the currencies of three East Asian countries – South Korea, China, and Japan – have not managed to break free from their weakened positions. Notably, the Korean won appears to be weaker compared to the Japanese yen and the
SK Group has embarked on the sale of its stake in Londian Wason, the parent company of the world’s largest copper foil manufacturer Wason. This move comes approximately four years after its initial investment in 2019 and if successful it is expected to realize profits of around 1 trillion won (US$75
Hyundai Motor Group will transfer all of its hydrogen business capabilities to one subsidiary. Hyundai Mobis’ hydrogen fuel cell production management division will be transferred to Hyundai Motor to complete the Korean automotive group’s value chain of hydrogen mobility production and boost its eff
Hyundai Motor’s losses in Russia are snowballing as the Ukraine-Russia war has been dragging on, paralyzing the Korean automakers’ factories. In recent years, the Russian government has been nationalizing assets of foreign companies that left the country, raising the risk that Hyundai Motor will be
In the first half of this year, insurance companies achieved a net profit of nearly 10 trillion won (US$7.56 billion), driven by increased sales of guaranteed insurance policies and the positive effects of implementing new accounting standards, specifically IFRS9 and IFRS17.According to the prelimin
Eight out of ten business leaders have expressed the belief that the Chinese economy will continue to deteriorate in the future. This outlook is attributed to mounting concerns over risks stemming from China, notably those associated with the U.S.-China conflict. It is increasingly evident that the
The government has supplied more than 10,000 workers, both nationals and foreigners, to the shipbuilding industry in the first half of this year. Out of these, foreign workers totaled 8,300.According to the Ministry of Trade, Industry, and Energy and the Ministry of Justice, a total of 11,104 produc
HYUNDAI STEEL announced on Aug. 30 that its Ulsan Plant 2 recently obtained a renewable energy offshore wind farm certification from Det Norske Veritas (DNV), a Norwegian classification society. This certification ensures Hyundai Steel meets basic criteria for both domestic and international offshor
AmorePacific’s “AESTURA” is set to officially launch in the Japanese market on Sept. 1. The product line will be showcased at 12 branches of “Atocosme,” Japan’s largest beauty specialized platform and multi-brand shop. The A-SICA 365 lineup, making its debut in the Japanese market, is developed base
The Korean government sees eye to eye with major Korean semiconductor giants, including Samsung Electronics and SK hynix, regarding developing advanced packaging technology for semiconductors.The Ministry of Trade, Industry and Energy (MOTIE) announced on Aug. 29 that it signed an agreement with sem
Major Korean petrochemical companies have been downsizing or selling off their film businesses, which were once significant business areas. This is because they find themselves in a situation where they cannot sell their products at fair prices, as China has increased production with low-priced prod
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced on Aug. 29 that it will initiate an inspection of the Social Overhead Capital (SOC) projects being undertaken in the Saemangeum region of Jeollabuk-do, or North Jeolla Province. The ministry intends to examine the necessity, feasi
Taiwan’s prominent Korean online community, “Pomosa,” has recently been buzzing with excitement over the “Coupang Taiwan Rocket Delivery” trend. Since the latter half of last year, Coupang has expanded its presence in Taiwan, offering millions of essential products, such as major groceries and daily
SK telecom is set to develop its proprietary communication security technology, Quantum Security Communication (QSC), as an international standard. It is anticipated that the technology will receive final international standardization approval in as early as two years.On Aug. 29, SK telecom announce
Samsung Electronics and SK hynix are expected to face another hurdle in achieving their business goals as electricity prices rose amid a slowdown in the semiconductor industry in the first half of this year. While they are implementing the so-called RE100 program to replace 100 percent of their elec
Samsung has embarked on a mission to secure highly skilled foreign talent with research expertise. This marks the first time that Samsung is recruiting foreign professionals with experience to work in South Korea.Samsung Electronics, Samsung Display, and Samsung SDI announced on Aug. 28 that they wi
The Financial Supervisory Service (FSS) is launching a comprehensive investigation into related securities firms to gather more precise information and evidence regarding the suspected preferential redemption of the “Lime Fund.” Amid allegations that funds were returned only to certain influential f