The legal battle between the sons of the founder of Hanmi Pharmaceutical -- Lim Jong-yoon and Lim Jong-hoon -- and the OCI Group has intensified. OCI Group holds a significant stake in Hanmi Science, the parent company of Hanmi Pharmaceutical Group. The legal battle remains on the question of integr
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 government announced today the start of the new project application period for this year as part of its global R&D initiative, aiming to establish a cooperative hub with top overseas research institutions. In particular, through the newly introduced “Top-tier” project, which is valued at 10 bill
The government has extended its support to companies starting businesses overseas, aiming to increase the number of successful Korean startups in the global market. The Ministry of SMEs and Startups announced that amendments to the “Act on Support for Small and Medium Enterprise Establishment” and i
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
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
The first meeting of the Korea-Netherlands Semiconductor Dialogue kicked off in Eindhoven, the Netherlands, on Feb. 19 (local time). The Korean and Dutch governments agreed to hold the meeting during President Yoon Suk-yeol’s state visit to the Netherlands in December 2023. The ministries in charge
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
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
AI MedTech specialist Waycen (CEO Kim Kyungnam) announced on the 14th that they have signed a strategic sales agreement with Hamza Batterjee President & CEO MegaMind the largest healthcare specialized company in the Middle East located in Saudi Arabia, for its medical AI solutions and healthcare pro
Netflix, a dominant player in the online video streaming service (OTT) industry, is persisting in its non-response to government pressure to lower subscription fees, raising concerns about increasing burdens on domestic OTT companies. Experts argue that to improve equity between domestic and interna
Samsung Electronics’ 5G communication equipment is being supplied to the telecommunications operator TELUS, which has embarked on strengthening its 5G network by establishing Canada’s first Open Radio Access Network (OpenRAN).TELUS announced on Feb. 17 through its newsroom that it is expanding its c
SK telecom and KT have announced their plans to showcase advanced technologies based on artificial intelligence (AI) at the Mobile World Congress (MWC) 2024, which opens on Feb. 26 in Barcelona, Spain. SKT is set to occupy a large exhibition space of 992 square meters in the Fira Gran Via Hall 3, un
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
Samsung Electronics has entered the competition for a cutting-edge 2-nanometer (nm, one billionth of a meter) foundry process and has secured an order to produce 2-nm semiconductors from a Japanese artificial intelligence (AI) company.According to industry sources on Feb. 15, Samsung Electronics has
Hanon Systems (018880) announced on Feb. 14 that its preliminary consolidated financial results for last year showed an operating profit of 277.2 billion won (US$207.9 million), up 8.1% from the previous year. Sales revenue increased by 10.8% to 9.5593 trillion won and net income rose by 120.2% to 5
LS Eco Advanced Materials, a subsidiary of LS Cable & System, announced that it has signed a memorandum of understanding (MOU) with the German-based Vacuumschmelze, the largest permanent magnet manufacturer in Europe, to establish a joint venture corporation.The two companies plan to establish the j
The Korea Development Institute (KDI) has maintained its economic growth forecast for South Korea at 2.2 percent for this year. However, it has slightly lowered its forecast for private consumption, citing prolonged high interest rates as a contributing factor.According to the “Economic Outlook” rel
News about BYD’s entry into South Korea has drawn attention to changes in the share of the South Korean electric vehicle market dominated by Hyundai Motor. BYD is a Chinese electric vehicle maker. Experts predict that BYD’s price competitiveness will play a big role in determining its success in the