Chong Kun Dang Pharmaceutical, a leading biotechnological and pharmaceutical company in South Korea, is poised to achieve a nearly sevenfold increase in operating profit in the fourth quarter of last year compared to the same period the previous year. This remarkable growth is attributed to the tech
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
LG Electronics continued its strong performance in 2023, setting new records in sales for the third consecutive year and achieving significant growth. Notably, in the fourth quarter of 2023, its operating profit surged by an impressive 350.9% compared to the same period last year, demonstrating soli
The overseas non-performing loan portfolios of the four major banks in South Korea surged to nearly 300 billion won in just one year. The rapid increase raised concerns as delinquency amounts spiked due to the impact of high-interest rate shocks, prompting warnings about the management of overseas f
The State of West Virginia and LG Electronics announced a strategic initiative to grow new business ventures in West Virginia to advance the development of new technologies for renewable energy, healthcare and industries of the future.The businesses, developed by LG NOVA, LG Electronics’ North Ameri
SK hynix announced today that it will showcase the technology for ultra-high performance memory products, the core of future AI infrastructure, at CES 2024, the most influential tech event in the world taking place from January 9 through 12 in Las Vegas.SK hynix said that it will highlight its futur
MedPacto announced on Jan. 2 that it has received approval from the U.S. Food and Drug Administration (FDA) for an Investigational New Drug (IND) application for the combination therapy of Vactosertib and Pembrolizumab (commercially known as Keytruda).This clinical trial targets patients with previo
Samsung Electronics and SK hynix are making strides in commercializing “On-sensor AI” technology for image sensors, aiming to elevate their image sensor technologies centered around AI and challenge the market leader, Japan’s Sony, in dominating the next-generation market.At the “SK Tech Summit 2023
On Dec. 27, POSCO Holdings announced that it signed a joint venture agreement with China’s Zhongtai Cryogenic Technology on Dec. 22 for the production of high-purity rare gases. POSCO Holdings and Zhongtai will hold 75.1% and 24.9% in the joint venture, respectively.Zhongtai, listed on the Shenzhen
Chinese online retail giant AliExpress has emerged as the fastest-growing app in South Korea this year. According to WiseApp, an app and retail analytics service, AliExpress is the app that has had the most users in South Korea over the past year. AliExpress had only 3.36 million users in January, b
LS Cable & System has developed a new material for copper foil, marking a significant step towards expanding its eco-friendly material business.On Dec. 20, LS Cable & System announced the development of CuFlake, a new copper material for copper foil. This material is the first in the world to commer
Hyundai Motor Group (the Group) today announced key executive appointments for the second-half of the year 2023. Through the appointments, the Group aims to strengthen its leading position in future mobility solutions and innovations and better prepare for uncertainties in the global business enviro
A South Korean company’s overseas gas field project, which had been suspended for nearly a year due to local opposition, has dramatically resumed thanks to intergovernmental cooperation.The Australian Maritime Safety Authority approved an environmental license for SK E&S to drill an offshore gas fie
Recent data reveals that less than 1 percent of the South Korean population, specifically the top wealth holders, possess nearly 60 percent of the total financial assets of all households. Their combined financial assets amount to 2,747 trillion won (US$2.11 trillion), with real estate assets reachi
The recent global downturn in the real estate market has exposed significant risks of substantial losses for overseas real estate funds sold by domestic banks.According to financial sources on Dec. 18, the aggregated sales balance of overseas real estate funds by the top five banks in South Korea --
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
Park Jung-won, chairman of Doosan Group, will attend the world’s largest consumer electronics and IT trade show, CES 2024, to be held in Las Vegas, Nevada, in the U.S., from Jan. 9 to 12.According to Doosan Group on Dec. 17, Chairman Park, along with Vice Chairman Park Ji-won and other executives, w
China’s DRAM semiconductor company, ChangXin Memory Technologies (CXMT), has hinted at the development of the next-generation semiconductor process technology, Gate-All-Around (GAA), attracting attention in the industry.According to industry sources on Dec. 14, CXMT recently announced at the 69th In
Doosan Robotics announced on Dec. 14 that it signed a memorandum of understanding (MOU) on Dec. 13 (local time) with Schiphol International Airport in the Netherlands and the Danish company Cobot Lift for the supply of the Schiphol International Airport Collaborative Robot Luggage Handling System.Do
POSCO Holdings has succeeded in localizing electrodialysis membranes, a key component for lithium extraction, with a small but promising Korean company.On Dec. 14, POSCO Holdings and WSK announced that they signed a business agreement to jointly develop electrodialysis membranes for lithium producti