As the sole operator of nuclear power plants in the country, Korea Hydro & Nuclear Power (KHNP) has turned its attention towards revitalizing nuclear small and medium-sized enterprises which have been struggling with a shortage of projects. The initiative begins with the Shin Hanul Nuclear Power Pla
Claims have emerged that Google Korea’s revenue for the previous year is up to 30 times higher than what was disclosed in its audit report. Taking into account the omitted revenue in the audit report, it is suggested that the corporate tax owed to the South Korean government by Google Korea could be
In the era of high interest rates and low growth, the rapidly increasing corporate debt has become another critical concern for the South Korean economy. Particularly worrisome is the growing prevalence of zombie companies that are keeping themselves afloat through debt, primarily among small and me
Korea Gas Corp. (KOGAS) lost nearly US$200 billion over four years due to defects in Korean-type tanks for liquefied natural gas (LNG) carriers it had developed with Korean shipbuilders. This is because Korean shipbuilders developed a tank for LNG carriers but a quality issue has prevented them from
In the span of a year, bad loans in corporate lending from the five major banks have surged by over 400 billion won (US$300.98 million), heading towards the 3 trillion won mark. With the corporate sector facing economic challenges, there are concerns that the fierce competition in corporate lending
On Sept. 14, the Ministry of Trade, Industry, and Energy announced that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$160.5 billion, with imports reaching US$110.7 billion. This led to a provisional trade surplus of US$49.8 billion.The decline in th
Korea’s display companies are in a hot race with those of China to preempt the market for inorganic light-emitting diode (iLED) displays, touted as a future growth driver. Korea is considered to be lagging behind China in the iLED display market.The market for micro LED panels grew to US$27 million
Hanwha Ocean will build global production centers for submarines in North America (Canada) and Europe (Poland). The company has recently reorganized its submarine-related specialty ship organization to focus on domestic and international submarine orders worth a total of 80 trillion won.On Aug. 30,
The government has supplied more than 10,000 workers, both nationals and foreigners, to the shipbuilding industry in the first half of this year. Out of these, foreign workers totaled 8,300.According to the Ministry of Trade, Industry, and Energy and the Ministry of Justice, a total of 11,104 produc
The procurement for the El Dabaa project in Egypt and the tritium removal facility (TRF) project in Romania, which were secured after the inauguration of the Yoon Suk-yeol administration, will begin in October. This will unlock a total of 104 items with a value of 800 billion won (US$603.77 million)
Taiwan’s prominent Korean online community, “Pomosa,” has recently been buzzing with excitement over the “Coupang Taiwan Rocket Delivery” trend. Since the latter half of last year, Coupang has expanded its presence in Taiwan, offering millions of essential products, such as major groceries and daily
Forecasts indicate that China’s OLED shipments for smartphones will surpass South Korea’s by 2025.According to the “3rd Quarter OLED Market Track” report published by market research firm UBI Research on Aug. 28, the current market share of smartphone OLED shipments for South Korea and China stands
The Korean government has begun to improve its system to allow more skilled foreign workers to work longer at workplaces in Korea.On Aug. 24, the Ministry of Justice announced a plan to revolutionize work visa regulations in order to drive Korea’s economic growth at the 4th Regulation Innovation Str
Starting from the second quarter, major companies are showing a preference for bank loans as a means of fundraising over issuing corporate bonds. This trend is emerging as the interest rates for bank loans do not significantly differ from the interest rates for corporate bond issuance. With expectat
Ahead of the government's legislation on security tokens (hereinafter referred to as STO), the related industries are experiencing an acceleration in their movement.According to a media report in Busan, it has been revealed that Aiitone (CEO Jin Yeop Lee), a company listed on KOSDAQ is joining a
As global automakers such as Hyundai, Volkswagen, and Ford are establishing new electric vehicle production bases primarily in North America, domestic auto parts and electronics firms are following suit in droves. Even secondary suppliers are concentrating their new investments and employment in the
HD Hyundai, which has an unrivaled presence in the world marine engine market, has further strengthened its position with the acquisition of STX Heavy Industries. This acquisition has enabled HD Hyundai to solidify its competitive advantage over Hanwha Ocean in the global marine engine market, exper
The newly appointed CEO, Lee Hak-jae, is set to propel Incheon International Airport’s logistics services into a new era. His leadership promises to infuse fresh vitality into the airport’s logistics operations and fulfill his vision of establishing Incheon as a global logistics hub.Born in 1964, Pr
Companies investing in biopharmaceutical-related technologies and production facilities will now be eligible for a maximum tax deduction of 35 percent.On July 27, the Ministry of Economy and Finance held the 56th session of the Tax System Advancement Review Committee presided over by Deputy Prime Mi
China is in hot pursuit of Korea in the global organic light-emitting diode (OLED) display market. While Korea is still far ahead of China in terms of market share, China has caught up with Korea in terms of production capacity by 10-plus percentage points.China’s OLED display production capacity is