Korean blockchain and cryptocurrency companies are entering the competition in the simple payment market.Dunamu, the company behind South Korea’s cryptocurrency exchange platform Upbit, plans to allow partner companies of its “Luniverse” blockchain platform to build a main net, or an independent blo
The composite investment index of major Korean companies for 2019 has fallen to the lowest level since the government began to calculate the index in 2008.The index is based on five indicators – the investment trend index, the investment sentiment index, the investment performance index, the entrepr
Korean gaming companies are incorporating blockchain technology into their games. They have released or are preparing to release new games where blockchain technology is applied.Hanbit Soft is carrying out an internal test with its overseas partner, Asia Soft in Thailand, to link the global version
SsangYong Motor Co., part of Mahindra Group of India, announced on Jan. 2 that it sold a total of 143,309 vehicles in 2018 – 109,140 units in domestic sales and 34,169 in exports including CKD kits.In 2018, SsangYong showed a similar sales performance to 2017, recording a growth for nine consecutive
South Korea’s semiconductor exports fell in December last year, the first negative growth in 26 months. The decline is a clear sign that the “super boom” of the semiconductor industry has come to an end.The nation’s semiconductor exports totaled US$126.71 billion (141.41 trillion won) last year, acc
Korea’s exports have switched to a downturn in three months.The Ministry of Trade, Industry and Energy said on Jan. 1, exports totaled US$48.46 billion in December, a drop of 1.2 percent year on year.Korea’s exports surpassed US$50 billion for seven consecutive months from May to November before fal
Korean shipbuilders are pinning high hopes on LNG carriers this year as well. Demand for LNG tankers has been on a steady rise as major countries have toughened environmental regulations as part of their eco-friendly energy policies.Shipbuilding analysts say LNG tankers will continue to buoy the wor
SK Hynix has installed deep ultraviolet (DUV) photolithography equipment at its memory semiconductor plant in Wuxi, China, a move in line with its aggressive investment in semiconductor facilities despite a forecast that the ongoing semiconductor industry cycle would shift into a downturn in 2019.
Korean builders received overseas construction orders worth US$32.1 billion (662 contracts) in 2018, according to the International Contractors Association of Korea on Dec. 30.This year's total fell short of the records set in the early 2010s, but is meaningful in that it recorded double-digit g
While Samsung Electronics and Huawei are planning to launch foldable phones in the first half of next year, terminal makers are pouring out patents on next-generation smartphones, such as foldable and rollable phones.According to industry and foreign sources on Dec. 30, LG Electronics has recently a
The Korean auto industry is in shock from the scheduled implementation of a new minimum wage system. If weekly holidays are included as working hours when calculating the minimum wage, the burden of wage increases on five South Korean automakers is estimated at 700 billion won (US$626.68 million) a
The South Korean government will restrict the export of organic light-emitting diode (OLED) production equipment. It is planning to designate OLED equipment as “national core technology” and make government approval compulsory for exportation. This is a follow-up measure to prevent any recurrence of
Consumer Electronics Show (CES) 2019, which will run in Las Vegas for four days from Jan. 8 (local time), is expected to showcase premium TV technology and advanced smart home technologies such as artificial intelligence (AI) and the Internet of Things (IoT).Samsung Electronics, which betted on micr
South Korea`s annual exports surpassed US$600 billion for the first time.The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Customs Service announced on Dec. 28 that the annual accumulated exports exceeded US$600 billion (671.34 trillion won).It is the first time in 70 years since Kore
The History of Whoo, a premium cosmetics brand of South Korea’s LG Household & Health Care Ltd., which had annual sales of 203.7 billion won (US$181.55 million won) in 2013, achieved the 1 trillion won sales milestone in 2016 and then it has become the first South Korean cosmetics brand that exceede
Chinese display maker BOE laid out a plan to build a 6th-generation flexible organic light emitting diode (AMOLED) display production line by investing more than 7 trillion won (US$6.3 billion). The announcement signaled the start of China’s full-scale promotion of the display industry at the nation
LG Display's P10 plant construction has been postponed with no definite plan. The company originally planned to complete the new plant in Paju by the end of this year. However, the plan fell through as it decided to manufacture organic light emitting diode (OLED) panels instead of liquid crystal
South Korean automakers are revolting against the government’s proposal to revise the enforcement decree for the Minimum Wage Act, arguing that it would increase labor costs by 700 billion won (US$630 million) a year and adversely affect their business. The Korea Automobile Manufacturers Association
SK Hynix has come up with a system to let excellent engineers continue to work even after the legal retirement age of 60. The chipmaker announced on Dec. 27 that it would introduce a new system that will enable engineers with high technical skills to work regardless of their retirement ages. As a re
The Hyundai Motor Group is planning to invest approximately 300 billion won (US$270 million) in Russia for R&D purposes.According to the group, Hyundai Motor Russia signed a special investment agreement on Dec. 25 with the Ministry of Industry and Trade of the Russian Federation and the Government o