GM's Korean Operations sold 51,388 vehicles in March. Sales were up 26.0% compared to the same month last year. It marked the 21st consecutive month of year-over-year growth.Overseas sales of GM's Korean Operations reached 49,350 units last month, up 26.3% on an annual basis, marking the 24th consec
Korea’s exports of beauty care products, which have been shrinking while going through China’s restrictions and the COVID-19 pandemic, are rebounding thanks to steady Korean Wave effects and increased exports to other regions.According to the Korea International Trade Association (KITA) on March 31,
HD HHI announced on March 29 that it has been selected by Peru’s state-run SIMA Shipyard as a preferred bidder for joint local production of four ships: a 3400-ton frigate, a 2200-ton offshore patrol vessel and two 1500-ton landing ships. They are worth a total of US$462.9 million.HD HHI will design
Amid the global AI boom, there are forecasts suggesting that the revival of memory exports in South Korea could potentially boost the first-quarter performance of Samsung Electronics and SK Hynix.According to Bloomberg Intelligence, a research institution under Bloomberg, Senior Analyst Masahiro Wak
Korea’s inheritance tax is too high compared to G7 countries, leading to the Korea discount (the undervaluation of the Korean stock market) and discouraging investment, according to a proposal to adjust it to a reasonable level in this year’s tax law revision.“Over the past 30 years, G7 countries ha
The amount of debts owed by households and businesses in Korea was more than twice Korea’s gross domestic product (GDP). About half of the nation’s companies were unable to pay even interest on their debts with money they earned from sales, revealing their vulnerability.The ratio of private credit t
As the polarization of wages between employees of large and small companies has become a big social issue amid concerns about low growth, attention has been focused on the wages of those at large companies rising rapidly every year.The Korea Enterprises Federation (KEF) has sent out recommendation l
According to sources in the shipping industry on March 28, Gemini Cooperation, a shipping business alliance between the world’s No. 2 shipping company Maersk and No. 5 Hapag-Lloyd to go live in February next year has proposed a plan to exclude Busan Port of South Korea and ports of Japan, Vietnam, a
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, has teamed up with a German company that is the world’s No. 1 power semiconductor maker to develop ship electrification technology.HD KSOE announced on March 28 that it has signed a memorandum of unde
Align Partners, which conducted an activist campaign against JB Financial Group, has succeeded in placing two directors on the board. This marks the first instance of a shareholder-proposed director being included in a South Korean financial company.At the 11th regular shareholders’ meeting of JB Fi
Danggeun Market (Karrot), the publisher of South Korea’s local super app ‘Karrot’, achieved record-high revenue and its first turnaround since its establishment. Danggeun Market’s accomplishments are impressive, especially considering they were achieved during a global economic downturn. The company
Pacifico Energy Korea has signed a Co-Existence Agreement to accelerate the development of the company’s Myeong Ryang Offshore Wind Project with the Seogeocha Island Offshore Wind Promotion Committee, which comprises of residents of Seogeocha Island located in Jindo County, South Jeolla Province. Wi
Samsung Electronics has introduced a sample version of its next-generation graphics DRAM, GDDR7. Graphics DRAM, along with High Bandwidth Memory (HBM), is considered a profitable product in the Artificial Intelligence (AI) memory lineup.According to industry sources on March 28, Samsung Electronics
Samsung Display Executive Director Jung Seok-woo announced plans to expedite the production of RGB-based micro OLEDs at the OLED Korea conference held at the K Hotel in Seoul on March 28.During his presentation on the Development Strategy for AR/VR in Future Displays, Jung emphasized the collaborati
Doosan Enerbility is making its entry into the aircraft engine business, leveraging its accumulated expertise in power generation gas turbines to broaden its business domain and secure differentiated gas turbine technology.On March 26, Doosan Enerbility announced that it had added “aircraft engine m
Amid the payment of massive subsidies by the United States and Japan for the revival of the semiconductor industry, the government has decided to review the provision of subsidies to the nation’s high-tech industries, including semiconductors. This marks the first official mention by the government
Hyundai Motor Group announced on March 27 that it will hire 80,000 people and invest 68 trillion won in Korea over the next three years from this year to 2026. The plan is expected to create about 198,000 decent new jobs.The announced investment in Korea is a significant increase from the 56.2 trill
South Korean fashion company ShinWon Corporation (CEO: JJ Park) held an ESG Management Vision Declaration Ceremony to establish a mid-to long-term plan for ESG (environmental, social, and governance) and advance as a sustainable company.Through the declaration ceremony, ShinWon aims to publicly anno
Hankook & Company, the holding company of Hankook & Company Group, has announced it will rebrand Hankook ATLASBX Motorsports, a Korean premier motorsport team sponsored by Hankook & Company, as HANKOOK COMPETITON, as it takes significant steps towards becoming a leading presence in global motorsport
A recovery in the influx of Chinese group tours into South Korea is becoming noticeable. Chinese tourists to South Korea have passed the pre-COVID-19 level and are getting closer to the level where they peaked in the past. New momentum in China’s recovering economy is also something that can help se