In the first quarter of this year, the declaration amount for foreign direct investment (FDI) has once again set a new record, marking the highest figure to date. Significant increases in investments in advanced manufacturing sectors, particularly centered around China and Japan, are expected to con
Hyundai’s and Kia’s combined global sales fell in March compared to the same month of 2023. Their sales descended not only in Korea but also overseas.Their combined global sales totaled 641,158 units in March, down 3.2 percent year on year, according to Hyundai Motor Group controlling the two Korean
At the 47th regular shareholders’ meeting held on March 28, Ssangyong Engineering & Construction announced that it achieved a profitability turnaround in 2023 as it approved the financial statements for the year.In the 2023 fiscal year, the company achieved sales of 1.44 trillion won (US$1.06 billio
Despite Chinese online shopping platforms like AliExpress, Temu, and Shein entering the South Korean market with competitively priced products, a survey reveals low satisfaction levels among domestic consumers.On April 1, the Korea Chamber of Commerce and Industry conducted a survey of 800 consumers
Kolmar Group’s holding company, Kolmar Korea Holdings, is changing its name to Kolmar Holdings. This change reflects its aim to expand into the global market and establish its identity as an integrated brand.Kolmar Korea Holdings held a shareholders’ meeting on March 29 and decided to change its nam
Samsung Display saw its market share for smartphone Organic Light-Emitting Diode (OLED) panels fall below 50% for the first time last year, facing intense competition from Chinese manufacturers. The surge in market share for companies like BOE, which have secured exclusive supplies for Chinese smart
SK hynix announced on April 1 that it has developed the semiconductor industry’s first neon gas recycling technology in collaboration with the domestic specialty gas company TEMC. This achievement comes just over a year after starting the development of recycling technology with a domestic material,
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
Despite a downturn in the industry, petrochemical companies in South Korea have reportedly invested a record amount in research and development (R&D). This move is interpreted as part of a differentiation strategy to enhance competitiveness in new business areas such as high-value added (specialty)
As large offshore wind power projects are being actively pursued in South Korea, it is estimated that investments could reach up to 100 trillion won by 2030.According to the Ministry of Trade, Industry and Energy, the government aims to deploy offshore wind power facilities with a total capacity of
Last year, Samsung Electronics’ shareholder returns rate surpassed that of global big tech companies such as Microsoft and Meta. This achievement comes despite the worst semiconductor downturn in history last year, demonstrating Samsung’s commitment to maintaining dividend payouts and focusing on sh
The global community is on edge following reports that China plans to eliminate products from American companies Intel and AMD. This move surpasses mere retaliation against the United States’ intensified semiconductor export restrictions, indicating China’s confidence in its own technological develo
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
Lotte Group has revealed its determination to achieve operational efficiency through selection and concentration and to enhance corporate value by restructuring its business structure.At the 57th regular shareholders’ meeting of Lotte Holdings held at Lotte World Tower in the Songpa district of Seou
On the occasion of its 40th anniversary, Pulmuone has expressed its determination to grow into the global number one “sustainable food company.”On March 28, the company held the “2024 Pulmuone Open Shareholders’ Meeting” at the Science and Technology Convention Center in the Gangnam district of Seou
Qoo10 has acquired AK Mall, an internet shopping mall previously operated by AK Plaza, through its subsidiary, Interpark Commerce.Interpark Commerce finalized a business transfer agreement with AK Plaza for AK Mall on the March 27.AK Mall has been known for selling products from department stores wi
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
Despite a sluggish construction industry, corporate sentiment in the economy has rebounded slightly for the first time in three months, attributed to the recovery in semiconductor exports.According to the survey results of the Business Survey Index (BSI) and Economic Sentiment Index (ESI) for March
There is a prospect that a new era will open in three years where the entire population of 50 million people across the nation can receive anything with a day of ordering it with free shipping.On March 27, Coupang announced its intention to expand its Rocket Delivery service to encompass the majorit
LG Group has decided to invest approximately 100 trillion won domestically over the next five years. This figure represents a slight decrease from previous investments, with half of it allocated for artificial intelligence (AI), biotechnology, and batteries.On March 27, LG Corporation, the holding c