LG Electronics will reduce its investment for this year to cope with growing global uncertainties stemming from the U.S.-China trade dispute and other factors.LG Electronics plans to invest a total of 3.38 trillion won this year, according to LG Electronics' third-quarter business report. The fi
Only two Korean companies made the global top 500 in terms of market capitalization.Korea Exchange released on Nov. 14 a survey of listed Korean firms’ market capitalization in terms of the U.S. dollar. As of Nov. 8, Samsung Electronics' market cap stood at about US$268.4 billion, taking 20th pl
The U.S. government’s preliminary decision to exempt Korean cold-rolled steels from anti-dumping duties has given a breathing space to Korean steel manufacturers including Hyundai Steel.The U.S. Department of Commerce released the results of the second preliminary judgment on cold-rolled steel produ
Online e-commerce businesses are maximizing opportunities for success through Cafe24’s partner companies.Global e-commerce platform Cafe24 held its first "2019 Cafe24 Online Business Fair" at the Yeouido 63 Convention Center on Nov. 14. It was attended by officials from 700 e-commerce businesses and
President Moon Jae-in will meet with key business leaders from China at the Blue House on Dec. 4 as part of his efforts to lift China’s prolonged ban on Korean products.The Korea Chamber of Commerce and Industry (KCCI) told officials of major Korean companies such as Hyundai Motor and SK on Nov. 14
Individual investors' minimum investment in hedge funds will be raised from the current 100 million won to 300 million won.Eun Sung-soo, chairman of the Financial Services Commission, announced on Nov. 14 a set of measures designed to protect investors in high-risk financial products. The FSC’s
The trading volume on Korea’s primary stock market rebounded to the 6 trillion won range for the first time in about three months. As stock trading has become brisk, the stock index has also been on the rise.According to Korea Exchange, the trading volume on the KOSPI market reached 6.322 trillion w
Korea ranks high in the OECD in terms of investment in research and development (R&D) and share of international patents. Its R&D budget exceeds 20 trillion won this year, and it is the world’s fifth largest holder of international patents. However, the country places 19th among 20 major OECD countr
Bithumb Global will issue Bithumb Coin (BT) that can be used for Bithumb Family services launched by Bithumb's partners including Bithumb Korea. Bithumb Coin is paid to people as a reward when they use Bithumb Family services. With Bithumb Coin, people will be able to pay fees for Bithumb Family
The Korean government will go ahead with a plan to convert the retirement allowance system into an obligatory retirement pension plan for companies with 100 or more employees by the end of next year. It plans to make retirement pension mandatory for all companies with five or more employees by 2026
H2KOREA, a private-government body launched to promote hydrogen convergence alliance, will step up hydrogen cooperation with Australia.H2KOREA chairman Moon Jae-do and Fiona Simon, CEO of the Australian Hydrogen Council, announced on Nov. 12 that Korea and Australia have signed an agreement on mutua
Hyundai Motor has won the World Rally Championship (WRC), one of the world's top-class motor sports races. This is the first time that a Korean car has won the auto racing championship recognized by the Federation Internationale de l'Automobile (FIA) as the highest class of international ral
Samsung Electronics, which has been persistently attacked by non-practicing entities (NPEs) or “patent trolls,” has filed a complaint with a U.S. court to prevent an NPE from litigating repeatedly. As the number of lawsuits filed by NPEs against Korean companies steadily increased to reach 580 over
With Korea’s vehicle output falling rapidly, the number of employees in the automobile industry declined by about 10,000 this year. That is, about 1,000 workers per month have left the industry. As the automobile industry, which is a foundation of the Korean manufacturing industry, undergoes a crisi
Techfin Asia 2019, which will take place in Seoul on Dec. 5-6, is aimed at discovering how far the disruptive technologies can go in today’s developed financial sector.On the agenda of Techfin Asia 2019 will be artificial intelligence (AI), big data, blockchain, cloud computing, open banking, e-comm
The Ministry of Trade, Industry and Energy announced on Nov. 12 that it designated Jeju City as a regulation-free zone for more convenient electric vehicle (EV) charging services.Specifically, five private companies will set up an EV charger sharing network so that approximately 10,000 chargers in J
Samsung Heavy Industries’ labor and management representatives have recently visited Malaysia together to attend an event organized by the company’s client. It is a stark contrast to situations at other Korean shipbuilders that are still suffering from labor conflicts.Nam Joon-woo, president of Sams
Global display makers have waged intense competition to lead the liquid crystal display (LCD) market in recent several years and now they are turning their eyes to the rapidly expanding organic light emitting diodes (OLED) market.Samsung Display and LG Electronics, which are strong in small and larg
HDC Hyundai Development Co. took over Asiana Airlines by suggesting a price of approximately 2.4 trillion won whereas the other bidders suggested less than two trillion won. It is too early to pop the champagne though. HDC and its partner Mirae Asset Daewoo are supposed to deal with important issues
Korea’s electric vehicle (EV) exports for this year have more than doubled from those of 2018 as EV sales by Hyundai Motor Co. and Kia Motors Corp. are expanding in major markets such as the United States and the European Union.Korea’s EV exports amounted to US$2,566 million in the January-October p