Amid police investigations into allegations of illegal expenditures on a local board meeting in Canada by POSCO Holdings, the holding company of POSCO Group, new suspicions have emerged regarding similarly extravagant overseas board meetings held in the past.According to a comprehensive report by CB
Hak Cheol Shin, CEO of LG Chem, has been selected as one of the top 100 economic leaders representing the World Economic Forum (WEF). At this year’s forum, CEO Shin will meet with global clients and partners to discuss collaboration strategies for managing the global supply chain and overcoming the
When Formula E calls, the Mexican fans answer that call in droves. More than 40,000 fans packed into the sold-out grandstands at Autodromo Hermanos Rodriguez in the city of 22 million inhabitants. Come the end of the race, they were celebrating a winning drive from Germany’s Pascal Wehrlein. The 29-
The Korean beauty care industry is turning its eyes to the Japanese market. It is a strategy to try to rebound by targeting Japan as an alternative market as its performance weakened due to a decline in the market share of Korean cosmetics in China.LG Household and Health Care’s cumulative sales thr
SK ecoplant is strengthening cooperation with the US state of Nevada, which is rising fast as a hub for the U.S. electric vehicle and battery industry.SK ecoplant announced on Jan. 14 that it had a business meeting with Nevada Governor Joe Lombardo at a Las Vegas plant of its recycling subsidiary TE
Hyundai Motor Company announced on Jan. 12 that it has unveiled the IONIQ 5 N Performance Concept model NPX1 loaded with N Performance parts for the first time at the 2024 Tokyo Auto Salon.The IONIQ 5 N Performance Concept Model NPX1 features lightweight hybrid carbon wheels, high-performance brake
The number of technical regulations notified by World Trade Organization (WTO) member countries in 2023 exceeded 4,000 for the first time ever, a record high, showing that technical barriers to trade were rising among countries.The Korean Agency for Technology and Standards under the Ministry of Tra
It has been reported that China, which has implemented export controls on graphite, a key material for battery cathodes, since December of last year, has granted permission for the export of graphite to major battery companies in South Korea. However, there remains the possibility of further tighten
HD Hyundai XiteSolution announced on Jan. 11 (local time) that it has signed a memorandum of understanding (MOU) with CNH, a leading global company in agriculture and construction machinery, at the CES 2024 event in Las Vegas, Nevada, in the U.S. The MOU focuses on establishing a joint research cent
As the maturity date for equity-linked securities (ELS) linked to Hong Kong’s Hang Seng China Enterprises Index (HSCEI) worth 10 trillion won (US$7.6 billion) approaches in the first half of the year, it has been revealed that a confirmed loss of 100 billion won has been incurred since the beginning
Amid the resolution for the merger between the pharmaceutical giant Hanmi Pharmaceutical Group and the materials and energy-focused OCI Group, signs of a potential management dispute have emerged. This comes as a result of opposition from Lim Jong-yoon, the current CEO of Hanmi Pharmaceutical and th
SK telecom announced on Jan. 14 that its President Ryu Young-sang and key executives participated in the world’s largest IT and consumer electronics show, CES 2024, which concluded on Jan. 12. They focused on expanding collaborations with global partners based on the company’s AI Pyramid strategy.Th
Vice President Kim Dong-sun of Hanwha Robotics has been visiting global sites in the new year to explore strategies for overcoming the economic crisis and for future industries. Particularly, he has exchanged diverse opinions with global CEOs about synergies between traditional industries and advanc
Due to a slowdown in global demand for electric vehicles, leading to an “oversupply,” the prices of battery materials have significantly fallen. Companies in this sector are noticeably tense. According to Taiwan’s market research firm TrendForce on Jan. 14, in December last year, the prices of lithi
Samsung Electronics’ first artificial intelligence (AI) smartphone, the Galaxy S24 series, is set to be unveiled on Jan. 18.According to industry sources on Jan. 14, Samsung Electronics will reveal the Galaxy S24 series at its first half of the year product launch event, Galaxy Unpacked 2024, schedu
Seoul AI hub, supported by the Seoul Metropolitan Government, announced that 35 AI startups it supports participated in CES 2024, showcasing their AI-based products and technologies to the global market. Among these, startups that participated as part of Seoul AI hub’s global expansion support proje
Celltrion’s biosimilar products for the treatment of autoimmune diseases have successively won bids in major European countries.According to Celltrion on Jan. 12, Yuflyma (active ingredient: adalimumab) has successfully won a government bid in Italy. Yuflyma was awarded in the adalimumab government
SK Group announced that the cumulative number of visitors to the SK Group’s integrated exhibition hall at the Las Vegas Convention Center (LVCC), held from Jan. 9 to 12, was expected to reach around 60,000 by the third day of the opening, Jan. 11. In fact, throughout the event, long lines of visitor
Foreign tourists spent 5.64 million won (US$4,297) and 1.43 million won on duty-free goods per capita in November 2022 and November 2023, respectively. The amount plunged by more than 70%.The number of foreigners who visited domestic duty-free shops in November more than doubled to 646,000 from the
South Korean passports took second place in the global passport power rankings. They moved up one spot from third place last year.The number of countries that give visa-free entry to Korean passport holders stood at 193, which means Korean passports claim second place, tied with Finland and Sweden,