The Korea Fair Trade Commission (KFTC) conducted an on-site investigation into AliExpress, the shopping platform of the Chinese Alibaba Group, which is suspected of violating consumer protection obligations.According to industry sources on March 6, the KFTC recently sent investigators to the Seoul o
It has been confirmed that recent complaints from domestic consumers using China’s Alibaba shopping platform AliExpress have sharply increased.According to the response data on “the status of consumer consultations related to AliExpress-related complaints and damage compensation” received by the off
Hugel, Inc. announced on March 4 that it has obtained product approval from the U.S. Food and Drug Administration (FDA) for its botulinum toxin product Letybo in 50-unit and 100-unit dosages on Feb. 29, local time. This FDA approval marks Hugel as the first and only company in South Korea, and the t
The Incheon Port Authority (IPA) announced that foreign shipping firm Maersk has launched the PH5 service at Incheon Port on March 4.PH5 is a weekly service that departs from Incheon Port and travels to Vietnam and Thailand via China. Five vessels ranging from 2,544 to 2,826 TEU will be used, with t
Following last year’s memory semiconductor downturn, Samsung Electronics and SK hynix are aggressively increasing their focus on DRAM through the expansion of advanced processing. This move is anticipated due to the expected rise in orders for High Bandwidth Memory (HBM) and Double Data Rate 5 (DDR5
South Korea’s exports in February of this year increased by 4.8 percent compared to the previous year, continuing the trend of “export growth” for the fifth consecutive month. Particularly noteworthy is the semiconductor exports, which recorded the highest growth rate in six years and four months. A
For four consecutive years, South Korea has maintained its position as the top country among 34 advanced and emerging markets worldwide in terms of household debt relative to gross domestic product (GDP). As of the end of last year, the ratio stood at 100.1 percent, slightly lower than the previous
By the end of 2023, more than 300 5G commercial networks had been launched worldwide, serving more than 1.6 billion users. 5G development is now well underway, with the growth rate of global 5G users reaching seven times higher than that of 4G users in the same period. Operators using Huawei solutio
After assuming office, the newly appointed president of POSCO International, Lee Gye-in, has opted for the global expansion of the driving motor core division as his first move.POSCO International approved the construction of a new driving motor core plant in Poland and a second plant in Mexico duri
Huawei hosted the 5G Beyond Growth Summit at MWC Barcelona 2024 today. At the summit, Li Peng, Huawei's Corporate Senior Vice President and President of ICT Sales & Service discussed how carriers can achieve business success in 5G and how 5.5G will further unlock the potential of networks and create
The author, Hyungcho Chung, is the founder and CEO of Scomot -- Ed.What is an Abacus?An abacus is an ancient tool used for calculating and counting that has been used for centuries. It is composed of a wooden frame with a series of rods arranged in rows, each containing a specific number of beads. T
HL Group’s HL Mando has officially launched a joint venture with China’s automotive parts company, Tianrun Industry Technology, related to the manufacturing of electric steering for commercial vehicles. The joint venture, Tianrun Mando, will have a total capital investment of 100 million renminbi, w
LG Energy Solution has embarked on establishing a solid supply chain for the expansion of its lithium iron phosphate (LFP) battery business.On Feb. 22, LG Energy Solution announced a long-term supply contract for LFP cathode materials used in electric vehicles (EVs) and Energy Storage Systems (ESS)
South Korea holds the potential to become a global battery supply base, necessitating a national strategy to realize this potential, according to claims made by industry experts. The Korea Chamber of Commerce and Industry’s Sustainability Growth Initiative (SGI) highlighted in its report on Feb. 22,
CJ Logistics announced on Feb. 22 that it has established an integrated logistics center for the globally renowned shoe brand Crocs in Icheon, Gyeonggi Province.Spanning an area of 20,000 square meters, the new facility can handle up to 50,000 boxes per day, doubling the capacity compared to the pre
Chinese direct purchase shopping app Temu is stirring controversy in South Korea by attracting new members with cash-like credit points and free gifts through fishing-like events. Consumers have criticized Temu’s ambiguous prize events as “consumer deception” and “multi-level personal information sc
The legal risks facing the former President of POSCO, Jang In-hwa, who has been nominated as the next chairman of the POSCO Group, are growing, sparking controversy.According to industry sources, on Feb. 19, the People’s Livelihood Countermeasure Committee filed a complaint against former President
The criticism against Chinese e-commerce companies, which aggressively enter the domestic market with ultra-low prices, is growing due to their disregard for relevant laws while operating within the country. There are numerous complaints about these companies consistently sending advertisements that
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 Bank of China has lost its lawsuit against South Korea’s tax authorities to cancel a 35.8 billion won (US$26.8 million) corporate tax penalty in a Supreme Court ruling in South Korea. The Supreme Court has confirmed the original ruling that the plaintiffs lost the case against the Jongno Tax Off