Korea’s leading chicken brand BHC Chicken is embroiled in controversy for replacing its boneless chicken menu with cheap Brazilian chicken and at the same time raising its price.BHC Chicken switched its source of boneless chicken to Brazil in May 2023, according to industry sources on Feb. 22. Howev
Foreign investors who invest in domestic stocks and bonds will see significant improvements in the complex foreign exchange procedures they have faced so far. It is expected that the accessibility of foreign investors to the domestic market and the Korean won will improve.The Bank of Korea and the M
The Namdong district of Incheon Metropolitan City houses the Namdong National Industrial Complex, playing a pivotal role in driving the Korean economy. The industrial complex, established in December 1989, is a key metropolitan industrial area with an annual production value of approximately 30 tril
The Ministry of Trade, Industry and Energy (MOTIE) has announced that the second round of negotiations for the South Korea-European Union (EU) Digital Trade Agreement will take place in Seoul from Feb. 20 to 22.The South Korea-EU Digital Trade Agreement is being pursued to foster a trustworthy, open
The government plans to accelerate the expansion of K-food exports. It aims to achieve exports of US$13.5 billion this year and has set a target of US$23 billion by 2027.On Feb. 20, the Ministry of Agriculture, Food and Rural Affairs announced the “K-Food+ Export Innovation Strategy” to nurture K-fo
Ahead of the Defense Acquisition Program Administration (DAPA)’s deliberations on slapping bidding restrictions on HD Hyundai Heavy Industries, Representative Seo Il-joon called for strict deliberations, saying, “The deliberations should be used as an opportunity to lay a foundation for the Korean d
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, has won two orders for very large ammonia carriers (VLACs).HD KSOE said in a public disclosure on Feb. 20 that it recently signed construction contracts for two VLACs with an African-based client. The
The criticism against Chinese e-commerce companies, which aggressively enter the domestic market with ultra-low prices, is growing due to their disregard for relevant laws while operating within the country. There are numerous complaints about these companies consistently sending advertisements that
Hyundai Engineering & Construction (Hyundai E&C) has become highly likely to win a project to build Kozloduy Nuclear Power Plant in Bulgaria with a total budget of nearly 19 trillion won, foreign media outlets reported.The Kozloduy Nuclear Power Plant Committee reviewed five proposals and concluded
In relation to the crash of the Marineon (MUH-1) utility helicopter in 2018, which resulted in the death of five individuals, Korea Aerospace Industries Ltd. (KAI) has been ordered by the court to compensate the state over 1.4 billion won. This first-instance verdict came after the state filed a law
Samsung Electronics is expanding its influence in the North American region, including Canada and the United States, by leading with its Open RAN solution. The company plans to strengthen its position in the global telecommunications equipment market, which is currently dominated by Huawei, Ericsson
Incheon International Airport Corporation (IIAC) has secured a contract for the largest overseas airport development and operation project in its history, expected to generate sales of 37 trillion won in the Philippines.On Feb. 16, it was announced that Incheon International Airport Corporation won
SK hynix President and CEO Kwak Noh-jung stated that the company is carefully considering the selection of a site for an advanced packaging facility in the United States, targeting all states.On Feb. 19, CEO Kwak made these remarks during a meeting with the press following the regular meeting of the
Carrot General Insurance announced on Feb. 19 that it has secured a contract for the implementation of Behavior Based Insurance (BBI) solutions with Indonesia’s Lippo General Insurance.This contract acquisition marks the first instance where Carrot’s inherent technological expertise and data capabil
This year it is projected that the annual overseas construction contract orders for South Korean companies will reach US$40 billion. It is expected that the contract amount will expand compared to previous years through projects such as nuclear power plants, renewable energy, and investment developm
For the first time in 25 years since the foreign exchange crisis, South Korea’s economic growth rate last year fell behind Japan. However, projections indicate South Korea is expected to outpace Japan again this year. Due to prolonged low growth, Japan’s economic size has slipped to the place of fou
SK Chemicals announced on Feb. 14 that it has decided not to proceed with the sale of its pharmaceutical business.Last year, the company signed a memorandum of understanding (MOU) for the sale of its pharmaceutical business and had been in discussions regarding the matter.It explained, “Amid various
Butechnology's successful patent application and registration for aircraft maintenance have raised expectations for its entry into the civilian aviation maintenance sector.On the 14th, KOSDAQ-listed company Butechnology (CEO Jin Yeop Lee) announced that it has obtained a patent for augmented reality
The share of long-time workers among all wage earners in South Korea has plummeted from its previous value to the average level of Organization for Economic Cooperation and Development (OECD) member countries, according to a survey. In particular, the proportion of wage earners who work more than 60
According to industry sources on Feb. 12, Hanwha Impact, an affiliate of Hanwha Group, recently received final approval for a merger related to the acquisition of HSD Engine from the Korea Fair Trade Commission. This came one year after the company signed a memorandum of understanding for a stock pu