Klaytn, the leading blockchain project led by the South Korean Internet giant Kakao, announced on Oct. 18 that eight new blockchain projects have joined Klaytn as service partners to further developments in bringing mass blockchain adoption globally.Dedicated to building readily usable blockchain-po
Samsung Electronics' brand value has surpassed US$60 billion for the first time, making the Korean tech giant one of the most highly valued brands in the world.Samsung Electronics announced on Oct. 17 that its brand value was estimated US$61.1 billion by Interbrand, ranking 6th in the Global Top
Asiana Airlines has lost a lawsuit it filed with the Korean court in 2014 with regard to the Korean government’s suspension of its service on the Seoul-San Francisco route following an Asiana passenger plane’s crash into a breakwater at San Francisco International Airport in 2013.The Supreme Court a
As the Korea-Japan conflict shows no signs of coming to an end, some U.S. think tank experts stressed the need to improve relations between the two countries as Japan's export restrictions against Korea plays havoc with the world economy. They also advised the United States to intervene to help
Lotte Group officials heaved a sigh of relief on Oct. 17 as its chairman Shin Dong-bin has avoided the worst case scenario of being imprisoned in connection with a graft scandal. The group pledged to reform itself to become a trustworthy enterprise.On the day, the Supreme Court overruled the High Co
Last year, China became the world's largest market for electric vehicles (EVs). Among EV brands, Toyota ranked first, followed by Hyundai-Kia Automotive Group.In 2018, worldwide sales of EVs, including hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), plug-in hybrid electric veh
SK Group is continuing to raise funds aggressively by issuing corporate bonds. The group has raised 8,752 billion won through bond issuance so far this year. The amount is estimated to reach 10 trillion won at the end of this year with SK Chemical and SK Siltron about to issue additional corporate b
The Bank of Korea lowered the key rate from 1.5 percent to a record low of 1.25 percent on Oct. 16 based on its conclusion that the South Korean economy is losing steam with exports and investments decreasing at the same time. The possibility of deflation also affected its benchmark rate determinati
The fast-growing global electric vehicle (EV) battery market shifted into reverse temporarily in August. Despite the downturn, South Korea’s top three EV battery makers, LG Chem, Samsung SDI, and SK Innovation, continued to grow based on their technological prowess.SNE Research, a Korean market sear
Samsung Electronics is in quandary over when to start the operation of semiconductor plants under construction at Xian, Shaanxi Province in China and at Pyeongtaek, Gyeonggi Province in Korea and which semiconductor items to produce in these new plants. If memory chips are additionally produced in t
South Korea and Indonesia have concluded negotiations on their Comprehensive Economic Partnership Agreement (CEPA). They are going to officially sign the agreement in the first half of next year so that it can become effective through parliamentary ratification.A CEPA is a trade agreement similar to
Bulgaria is considering introducing the advanced supersonic trainer T-5 of Korean Aerospace Industries (KAI) to strengthen its defense readiness. The country is also considering building a local assembly facility for technology transfer from KAI.According to industry sources and media outlets on Oct
Faced with domestic market saturation and suffocating regulations, the big three Korean grocery chains are accelerating efforts to enter overseas markets. In the wake of South Korea’s deployment of Terminal High Altitude Area Defense (THAAD) in 2016, they closed their stores in China, halting their
A patent troll is targeting Samsung Electronics and LG Electronics with regard to touch screens of smartphones.The non-practicing entity (NPE) that has filed a patent infringement suit against the two Korean companies, has already secured a favorable position against Apple in a similar patent lawsui
The South Korean government plans to complete the communications, road and traffic infrastructures required for completely autonomous driving by 2024 and put level 4 autonomous driving to commercial use on major roads nationwide in 2027 instead of 2030.In addition, the government is going to promote
Samsung SDI and LG Chem have unveiled safety measures to prevent their energy storage systems (ESS) from being ravaged by fires due to the explosion of components.The two companies announced on Oct. 14 plans to apply fire-prevention technologies to their products. Their move is designed to address s
Samsung Electronics is hot on the trail of Sony in the global image sensor market. The company is employing a two-track strategy of developing technology ahead of competitors and expanding its market share by increasing price competitiveness.The company is accelerating its move to take control of th
Some analysts point out that the Korean economy is mostly suffering from external troubles such as Japan’s trade restrictions and trade disputes between China and the United States, let alone its sluggish domestic demand. Making matters worse, the global economic recession contributes to the worseni
Large securities companies with an equity capital of three trillion won or more will be allowed to extend loans to their overseas subsidiaries.The policy change was decided at the government's fourth innovative growth strategy meeting on Oct. 14. In addition, the government is going to apply sim
GM Korea vice president Choi Jong said at the National Policy Committee of the National Assembly on Oct. 14 that the company established an elaborate business recovery plan last year and GM will never withdraw from the South Korean market as GM Korea is playing an important part in its business.Earl