These days, China is narrowing its gap with South Korea at a rapid pace in the manufacturing sector by maintaining low labor costs and making huge R&D investments. Analysts say China is already ahead of South Korea when it comes to future technologies such as big data, autonomous driving and artific
The National Pension Service (NPS) suffered a valuation loss of 14 trillion won (US$12.47 billion) last year from its investment in the shares of the listed companies affiliated with the country’s top 10 business groups.The NPS had an average of 7.76 percent stake in companies under the top 10 busin
Hyundai Heavy Industries Co. is suffering from an internal problem, although it is swamped with new order inquiries from its clients from the beginning of the year. The company exceeded its goal for new orders last year and there is a rosy outlook that the number of new shipbuilding orders across th
Security token offerings (STOs) have become the talk of the town in the cryptocurrency industry, following initial coin offerings (ICOs) which attract investment by issuing cryptocurrencies.Issuing a security token means converting assets into a form of cryptocurrencies offer them to invetors. These
New drug development at Hanmi Pharmaceutical, an icon of the Korean pharmaceutical industry, is at a standstill, raising questions about the company’s drug development capabilities.Currently, the company’s pipeline has 28 new drug candidates. Although the number increased by five from 23 in early 20
The Korea Customs Service (KCS) has launched an investigation into Heineken Korea Co. for alleged manipulation of beer import prices, according to a report by the Maeil Business Newspaper on Jan. 17.The report says Heineken Korea is expected to face a fine of more than 10 billion won (US$8.90 millio
Samsung C&T Corp. has recently sold off its solar power plants in Bulgaria, continuing its move to secure cash by selling its assets at home and abroad.Investment banking (IB) industry sources said on Jan. 17 that Samsung C&T, the de facto holding company of Samsung Group, recently sold seven solar
Korea Aerospace Industries Ltd. (KAI) is planning to develop a new mid-size civilian airplane with less than 100 seats in consideration of the rapid growth in civilian aircraft market in Northeast Asia.The plan was disclosed by KAI CEO Kim Jo-won who held a press conference under the theme of “aeros
Korea Securities Finance Corp. (KSFC) CEO Chung Wan-kyu has pledged to improve retail investors’ access to short selling.“We have decided to increase the number and amount of stock loans available to retail investors for short selling,” Chung said during a New Year's press conference held in Yeo
LG Chem has teamed up with its foreign partners, including IBM and Ford, to establish a blockchain platform to trace cobalt.Industry sources said on Jan. 17 that five companies -- LG Chem, IBM, Ford, Huayou Cobalt of China, and RCS Global of the United Kingdom -- recently agreed to launch a blockcha
Photo caption:LG Chem will establish an advanced cobalt supply chain based on blockchain technology with its foreign partners, including IBM and Ford.Industry sources said on Jan. 17 that five companies -- LG Chem, IBM, Ford, Huayou Cobalt of China, and RCS Global of the United Kingdom -- recently a
Global communications marketing firm Edelman announced on Jan. 17 that Christine Park, executive director of Edelman Korea, has been selected to serve as a jury member at the upcoming 2019 APAC Effie Awards, which will celebrate some of the best accomplishments in the marketing industry on March 6 i
Kia Motors has decided to produce 50,000 units of its popular compact crossover Soul at its factory in Georgia, the United State. The Soul model to be produced in the U.S. plant will be loaded with a 2.0-liter petrol engine. Production will start in mid-July of this year.Currently, all of the Soul m
A new chicken game has started in the global semiconductor industry. Leading companies such as Samsung Electronics and SK Hynix are investing aggressively to keep Chinese semiconductor producers in check. Chinese semiconductor maker Fujian Jinhua scratched off its plan to mass-produce DRAMs due to p
After the British parliament overwhelmingly rejected Prime Minister Theresa May’s Brexit deal on Jan. 15 (local time), the United Kingdom is poised for a “no-deal” Brexit on March 29. Accordingly, the South Korean government has decided to accelerate the conclusion of a free trade agreement (FTA) wi
Mirae Asset Group is accelerating investment in Southeast Asian startups with great growth potential, following its investment in Grab, a ride-hailing service provider in Southeast Asia, last year.Investment banking (IB) industry sources said on Jan. 16 that Mirae Asset Group invested 8.3 billion wo
The domestic biotech industry has been growing rapidly in recent years. Since 2016, Korea's biopharmaceuticals exports have surpassed imports. Biopharmaceuticals are pharmaceuticals made from materials derived from human or other organisms. Examples are biologics, genetically modified drugs, cel
Hyundai Motor and Kia Motors had their presence felt at the 2019 North American International Auto Show by unveiling strategic new models. After the “Genesis G70” and the small SUV “Kona” were selected as the North American Cars of the Year on Jan. 14, the automakers added new SUVs and high-performa
Kakao Mobility will stop its pilot carpool service that has been provided since December 2018."We have decided to bring a halt to our pilot carpool service," Kakao Mobility said on Jan. 15. "The decision was made in order to create a channel for communications needed to build a social consensus and
The controversy over the Korean government’s nuclear phase-out policy has been rekindled by ruling Democratic Party lawmaker Song Young-gil who recently called for resumption of the construction of Shin Hanul Nuclear Reactors No. 3 and No. 4.“Climate change threatens the existence of humankind more