During the Lunar New Year holiday, Lee Jae-yong, chairman of Samsung Electronics, visited the Samsung SDI battery manufacturing facility in Malaysia, emphasizing the need for bold investments despite challenges. On Feb. 12, Samsung Electronics reported that Chairman Lee, having arrived in Malaysia o
It has been revealed that over 90 percent of nuclear power plants with operating licenses that have expired in major overseas countries are undergoing safety assessments and extending their operational lifespans for continued operation.The active pursuit of continued operation by various countries i
The CEO Candidate Recommendation Committee of POSCO Holdings finally chose former POSCO President Jang In-hwa, a long-time POSCO insider, with rich experience in the steel business.POSCO Holdings held an extraordinary board meeting on Feb. 8 and resolved to select former POSCO President Jang In-hwa
On Feb. 8, the Fair Trade Commission (FTC) unveiled its agenda for the year, intending to elevate the criteria for designating business conglomerates subject to disclosure. Criticism has been directed at the regulations governing the disclosure of business groups as they are unique to South Korea. T
Samsung has not officially responded to the news that prosecutors are appealing the court’s decision to acquit Samsung Electronics Chairman Lee Jae-yong. However, there’s an atmosphere of tension as the reality of him not yet being free from legal risks looms.The Seoul Central District Prosecutors’
Coway Co., Ltd., the “Best Life Solution Company,” has released its financial results for the fourth quarter and fiscal year 2023."We’re proud to have achieved such a successful 2023, even in the face of significant challenges present in both domestic and international markets. Our stable performanc
Hyundai Glovis has secured four of the world’s largest pure car and truck carriers (PCTCs). They are expected to help alleviate a shortage of vessels for the Korean automobile industry.Hyundai Glovis announced on Feb. 6 that it signed a memorandum of understanding (MOU) with Korea Ocean Business Cor
Despite a slowdown in the growth of electric vehicles, it was revealed that the usage of electric vehicle batteries increased by 38.6 percent last year compared a year earlier. Chinese companies CATL and BYD jointly secured the top two positions in the global market. The market share of South Korea’
Until 10 years ago, there was no semiconductor company in the world that could rival Samsung Electronics. In 2011, it surpassed Intel to become the global leader in the semiconductor market in terms of capitalization. By 2012, it rose to fifth place among global information technology (IT) companies
A contract worth US$3.2 billion has been finalized to export the KM-SAM2 (Cheongung) ballistic missile system, also known as the Korean Patriot Missile, to Saudi Arabia.The Korean Ministry of National Defense announced on Feb. 6 (local time) a contract for the export of 10 M-SAM2 batteries signed be
Korean carmakers and car importers are in a flurry of activity as the Korean Ministry of Environment laid out a plan on Feb. 6 to change subsidies for electric vehicles (EVs) in 2024. According to the revised plan, Hyundai and Kia will remain at the same level, while mid-sized Korean-based carmakers
Xiaomi and Huawei, major Chinese smartphone manufacturers, are set to launch a series of new premium phone models, intensifying competition for Samsung Electronics, which is already contending with Apple’s iPhone. The Xiaomi 14 series will be globally released this month, featuring the Qualcomm Snap
The global leading automotive company Toyota, which has been embroiled in a “quality certification fraud” scandal, announced a record-breaking net profit of 4.5 trillion yen, equivalent to 40.2 trillion won or US$30.28 billion, for the fiscal year 2023, spanning from April 2023 to March 2024. The pr
On Feb. 6, a joint research team at the Ulsan National Institute of Science and Technology (UNIST), led by Professor Lee Jae-sung, Professor Jang Ji-wook, and Professor Seok Sang-il from the Department of Energy and Chemical Engineering and Professor Lim Han-kwon from the Graduate School of Carbon N
The feared situation has finally emerged for China’s e-commerce giant AliExpress, which ambitiously entered the South Korean market by prioritizing cost-effectiveness.In particular, consumer dissatisfaction is pouring in regarding services and customer responses, which have been consistently critici
South Korean fashion company ShinWon Corporation (CEO: JJ Park) has announced that they presented the 9th 'House of Love' to an Vietnamese employee who lost their home in a fire.The 'Building Houses with Love' project is part of ShinWon’s social contribution activities that was initiated in 2017 to
Domestic defense companies such as LIG Nex1, Hyundai Rotem, and Hanwha Aerospace are mobilizing to participate in the Saudi International Defense Exhibition held in Riyadh, the capital of Saudi Arabia, until Feb. 8, aiming to penetrate the Middle Eastern market.According to the defense industry on F
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
The South Korean battery industry, on the brink of achieving an annual export milestone of US$10 billion, has seen a slowdown in its growth momentum. This deceleration is attributed to a reduction in battery demand due to a slowdown in electric vehicle (EV) demand, along with the relocation of produ
Hanwha Group is showcasing its cutting-edge aviation technology, including fighter jet engines, to countries in the Middle East, including Saudi Arabia.Hanwha Aerospace, Hanwha Systems, and Hanwha Ocean, the defense affiliates of Hanwha Group, announced their participation in the World Defence Show