Qoo10, a company established in Singapore by Ku Young-bae, the founder of Gmarket, is set to acquire Interpark Commerce and WEMAKEPRICE, both domestic open market and direct overseas purchasing companies. The Fair Trade Commission announced that it has approved the business merger in which Qoo10 acq
As the trend of de-sinicization rises across industries in Korea, Altasia is emerging as an alternative to China.The Korea Chamber of Commerce and Industry (KCCI) released the results of its study on changes in the global trade structure and countermeasures on July 5, revealing that 14 Asian countri
The amount of foreign direct investment (FDI) declared in Korea in the first half of this year has recorded its highest since statistics started being compiled in 1962. Analysis suggests that Korea has emerged as an alternative investment destination to China due to U.S.-China tensions.The Ministry
LG held a two-day venture networking event in Silicon Valley starting on June 26, which involved global startups and venture capitals, to secure future growth engines by expanding the startup innovation ecosystem.This event was the first hosted by LG Technology Ventures, LG’s corporate venture capit
SK plasma announced on June 28 that it has obtained product approval for its blood products (albumin and immunoglobulin) from the Health Sciences Authority (HSA) of Singapore, with full-scale production beginning in June.The company is to initiate the export of its initial quantity in the fourth qua
Korea placed 28th out of 64 countries in the latest Global Competitiveness Index by the International Institute for Management Development (IMD) in Switzerland. Its ranking fell by one notch from 2022.The Korean Ministry of Strategy and Finance disclosed the results of the 2023 National Competitiven
The U.S. Treasury Department announced on June 16 that it will continue to list South Korea on the currency watchlist on its official website.Other countries included on the list are China, Switzerland, Germany, Malaysia, Singapore, and Taiwan. Japan, which was on the previous watchlist, is now off.
The world's first four-wheeled robot that can freely climb stairs, a drone managing Lotte World Tower, the tallest building in Korea, and an AI-based music service platform are all products of startups that Hyundai Motor Group has invested in.The Hyundai Motor Group announced on June 15 that it
In the fiercely competitive landscape of South Korea's 5 trillion won burger market, Shake Shack, a front runner in the premium burger sector, is setting out to solidify its top position.According to market research firm Euromonitor on June 15, the domestic burger market, worth 2.6 trillion won
KB Kookmin Bank announced on June 14 that it was named the Best Custodian Bank in Asia and Best Custodian Bank in Korea at The Asian Banker Financial Markets Awards 2023, hosted by The Asian Banker.The Best Custodian Bank in Asia was awarded for the first time this year and it went to a domestic ban
Around 800 affluent individuals are projected to emigrate from South Korea this year, doubling the figure from last year. In contrast, the outflow of the rich in China is anticipated to reach 13,500 people.Investment immigration consulting firm Henley & Partners revealed these estimates in its “2023
On June 8, SK innovation's board of directors approved a shareholder agreement to attract investment for SK on. This follows the same pattern as the US$800 million (approximately 1.5 trillion won) limit approved from the MBK consortium on May 24, a contract between SK innovation, SK on, and a ne
Global analyst firm ECA International annually selects the most expensive cities for expatriates by compiling the ECA Index based on the costs of living including currency value and rents.This year, New York topped the list. This is due to inflation and New York’s rising accommodation costs. Hong Ko
Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering (DSME)) announced on Jan. 31 that three Russian clients have filed an arbitration with the Singapore International Arbitration Center, claiming damages worth 1.1599 trillion won (US$877.36 million).Hanwha Ocean had previously c
The International Monetary Fund (IMF) has warned of possible corporate debt distresses in Asian countries, singling out Korea as becoming one of the most vulnerable if high interest rates persist.In its report on corporate debt in Asia on May 29, the IMF aggregated by country the percentage of total
In the first quarter, the size of South Korea's household debt surpassed the Gross Domestic Product (GDP). Among the 34 major countries, South Korea was the only one unable to repay all household debt with its annual national income. It was also the sole country among the major economies globall
The Indo-Psacific Economic Framework (IPEF), a U.S.-led economic cooperative formed to counter China, has released its first significant result: a supply chain agreement involving 14 participating countries. The main aspect of this agreement is a joint response by the participating nations to supply
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the company’s CEO, Jaeyong Ahn presented methods for equitable access of vaccine in the world at the Regionalized Vaccine Manufacturing Collaborative (RVMC) Side
The Netherlands’ ASM, the world’s No. 1 semiconductor deposition equipment maker, will ramp up its investment in Korea, one of its main bases, as demand for advanced semiconductors grows. Analysts say that the world’s top four semiconductor equipment makers are rushing to Korea, following the lead o
The author is an analyst for NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com -- Ed.Our NDR with Asian investors confirmed significantly weakened hopes for smartphone demand improvement. But, these lowered expectations are creating a good opportunity to load up on SEMCO shares. Wi