LG U+ announced on Oct. 25 that it has started in-depth discussions on 5G commercialization in China with China Telecom, with which it concluded a comprehensive strategic alliance on Oct. 17.The company said that it held discussions with key officials of China Telecom, including vice president Liu K
The Financial Supervisory Service announced on Oct. 27 that the collateralized loan obligation (CLO) investment of non-bank institutional investors in South Korea totaled 7,614.9 billion won in the first half of this year. The CLO is a high-risk financial product that triggered the global financial
SK Engineering & Construction (SK E&C) announced on Oct. 25 that it has signed a memorandum of understanding (MOU) with the Korea Energy Agency and the Ministry of Energy of Uzbekistan to renovate and modernize Mubarek Power Plant in Uzbekistan for about US$200 million.The project aims to modernize
More than half of South Korean companies currently doing business in China answered in a recent survey that the ongoing trade disputes between the United States and China are adversely affecting their business.The survey covering 212 companies was conducted from Sept. 2 to 27 by the Beijing office o
The Korea Petroleum Association announced on Oct. 24 that four local oil refining companies exported 127.23 million barrels of petroleum products in the third quarter of this year, down 1.1 percent from a year ago. The combined export volume fell for the second consecutive quarter after a 5.7 percen
Even a global economic slowdown and slumps in the Chinese and Korean markets could not stop the magic of LG Household & Health Care vice chairman Cha Seok-yong. Under Cha, the company has renewed its best business performances for 14 years in a row, setting a new record in Korean beauty care industr
Korea Exchange (KRX) announced on Oct. 24 that it has opened a cross-border M&A intermediation network as an online platform to help South Korean companies merge with and acquire foreign companies.The network, which provides data and information on foreign companies for sale, currently shows about 2
South Korea’s real GDP growth for the third quarter of this year and 2019 as a whole are estimated at 0.4 percent and less than 2 percent, respectively. The country’s annual real GDP growth was below 2 percent for only four years after 1953 and the four occasions were because of national economic cr
The eighth International Renewable Energy Conference (IREC) kicked off on Oct. 23 at the COEX Convention & Exhibition Center in Seoul. The largest renewable energy conference in the world is attended by more than 3,000 energy sector experts from 63 countries around the world and a total of 30 discus
The Korea Fair Trade Commission (KFTC) announced on Oct. 23 that a holding company’s subsidiaries will be banned from jointly investing in its new sub-subsidiary from next year onward. In addition, every holding company must disclose data each year on its business consulting fees and real estate ren
Samsung Electronics has recently invested in quantum computing technology which can compute thousands of times faster than supercomputers. Quantum computing is a computational technology that processes data using quantum-mechanical phenomena such as "entanglement" and "superposition." IBM, Intel, Go
LG Display has reported a negative earnings surprise for the third quarter of this year.The company announced on Oct. 23 that it recorded an operating loss of 436.7 billion won in the third quarter, a turnaround from a surplus of 140.1 billion won a year ago, on sales of 5.82 trillion won, a year-on
Mega investment banks in South Korea celebrate their second anniversary next month but their business performance is still short of expectations. This is because various regulations are hindering their business as well as approvals.Their issued note balance, which constitutes their main business, to
Korea Midland Power Co. (KOMIPO) is proactively responding to the global trend of energy conversion by actively pushing forward with overseas renewable energy and Clean Development Mechanism (CDM) projects based on its expertise in power generation.KOMIPO is promoting overseas renewable energy proje
Samsung Electronics and LG Electronics are seeking to break Apple’s grip on the Japanese smartphone market with new form factors.LG Electronics will launch the G8X ThinQ (Korean model name: V50S ThinQ) through SoftBank in Japan this December, the company said on Oct. 22. The dual-screen phone is an
The Korea Economic Research Institute (KERI) held a seminar in Seoul on Oct. 21 on whether South Korea is an attractive investment destination. There, foreign entrepreneurs investing in the country expressed a lot of concerns.For example, James Kim, chairman of the American Chamber of Commerce in Ko
LG U+ has demonstrated its 5G “U+ Smart Drone” featuring artificial intelligence (AI)-based voice recognition functions and real-time high-definition video transmission.Police officers from the Siheung Police Station and Baehae Police Box participated in the demonstration, which was held in Baegot N
The South Korean government is planning to seek measures so that it can make a declaration on waiving its developing country status in the Doha Development Agenda (DDA) negotiations.The United States is currently calling for South Korea to waive its developing country status in the ongoing multilate
Daewoo Engineering & Construction (Daewoo E&C) has won a US$86 million order for the construction of a prefabrication yard of an immersed tunnel in Khor Al Zubair, southern Iraq.The builder announced on Oct. 21 (local time) that Safaa Al-Fayyadh, president of Port Authority and Kim Hyung, president
Former U.S. National Security Adviser John Bolton will visit South Korea to meet with institutional investors. He is currently an advisory member of Rhone Group, an American private equity fund.Rhone Group is scheduled to have meetings with institutional investors such as the Public Officials Benefi