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
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
The top leading economic organizations of Korea and Japan met in Tokyo for the first time in four years, agreeing to strengthen cooperation in fostering startups in the two countries. They also agreed to establish trilateral economic cooperation between Korea, the United States, and Japan, and to wo
Hyundai Motor Company today presented its vision for a hydrogen-powered, software-driven transformation beyond mobility applications at CES 2024. Under the theme ‘Ease every way,’ the company held its Media Day at the Mandalay Bay Convention Center in Las Vegas to highlight its future blueprint for
Starting from the second half of this year, South Korean companies will have the option to settle export and import payments in Korean won when engaging in trade transactions with certain countries from the Association of Southeast Asian Nations (ASEAN). This move is expected to allow businesses to
Despite a record influx of foreign workers, South Korea’s small and medium-sized enterprises (SMEs) are still facing a labor shortage.According to a comprehensive survey on foreign labor employment conducted by the Korea Federation of Small and Medium Business (K-Biz), 29.7% of the 1,200 SMEs employ
"AI is All, FAST is Fast, Death of Linear TV, Content Format Shift, M&A, Advertising, Bundling"These are the keywords that will dominate the domestic and international media, broadcast communication, and entertainment technology markets in 2024.Direct MediaLab, The Core, and the Digital Industry Pol
LG Electronics has announced plans to showcase the future of smart homes powered by artificial intelligence (AI) at the world’s largest consumer electronics and IT exhibition, CES 2024, scheduled for January 9.The LG Smart Home utilizes AI to comprehensively understand and care for the customer’s li
Korea and the Gulf Cooperation Council (GCC) have finalized negotiations on a free trade agreement (FTA). The Korea-GCC FTA is Korea’s twenty-fifth FTA and the second with the Arab world after the Korea-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA). As Korea has gain
Debt, or credit, for both households and businesses surged to a historic peak, surpassing twice the gross domestic product (GDP) during the third quarter of this year. With an increasing number of businesses relying on non-banking institutions after the COVID-19 pandemic, coupled with a rising house
LS Group announced on Dec. 28 that it plans to invest over 2 trillion won to venture into the secondary battery materials sector. LS Corporation, the holding company, and its subsidiary, LS MnM, is set to embark on the construction of production facilities for secondary battery materials in earnest
TakeOne Company (CEO Jung Minchae), a comprehensive content developer, announced that the cinematic adventure mobile game ‘NCT ZONE’ with the group NCT will be officially launched at noon on the 28th through the Apple App Store and Google Play Store.This is a game where you can enjoy new concept puz
On Dec. 28, the integrated company Celltrion will be officially launched. Celltrion is taking steps to leap into a global big pharmaceutical firm by merging with Celltrion Healthcare, which is responsible for global distribution.Celltrion and Celltrion Healthcare announced on Dec. 27 that they are i
Taihan Cable & Solution announced on Dec. 26 that it has secured an order for a 380 kilovolt (kV) high-voltage power grid project from Germany’s TenneT. The contract is valued at 60 billion won (US$46.28 million).The project involves the construction of a 380 kV underground cable network to expand t
In the future, cryptocurrency issuing companies will no longer be able to arbitrarily recognize profits or assets.The Securities and Futures Commission (SFC) under the Financial Services Commission (FSC) announced on Dec. 21 that it had passed the “Supervisory Guidelines for Accounting Treatment of
POSCO International is rapidly transforming into an eco-friendly comprehensive business company and a business platform provider.POSCO International announced on Dec. 19 that, in its first year since the merger with POSCO Energy, it has successfully established three major business value chains -- e
Samyang Holdings announced on Dec. 18 that it has acquired a controlling stake in Verdant Specialty Solutions, a global specialty chemical materials company. The acquisition amount is approximately 330 billion won.Headquartered in the state of Texas in the U.S., Verdant focuses on the production of
Securities firms have been caught engaging in illegal “bond shuffling” practices, transferring bond losses, sometimes amounting to as much as 500 billion won (US$383.44 million), to other clients in an attempt to preserve investment returns for certain institutions and corporations. These activities
Samsung Electronics and SK hynix are set to gain from synergy with American Applied Materials (AMAT) and Lam Research following the Dutch company ASML establishing a Research and Development (R&D) center in South Korea, based on market share in the semiconductor equipment industry.According to the s
Last year, the debt of the central and local governments, non-profit public institutions, and non-financial public enterprises in the public sector reached nearly 1,600 trillion won (US$1.24 trillion), marking a historic high. The debt of non-financial public enterprises such as Korea Electric Power