Hanwha Aerospace has delivered an additional six K9 self-propelled howitzers to Estonia, adding to the 24 already in operation there. By 2026, when the remaining six units are delivered, Estonia will have a total of 36 K9 howitzers in operation.According to the defense industry on Dec. 18, the Eston
SK hynix is accelerating the development of a new process, “Hybrid Bonding,” to maintain its global leadership in High Bandwidth Memory (HBM). The industry is closely watching whether SK hynix can continue to lead the specialty memory sector by being the first to apply this dream packaging technolog
Lotte Chemical announced on Dec. 18 that its packaging made of “PET CLEAR” material has been certified for its excellent recyclability by RecyClass, a European institution that verifies recyclability.To obtain this certification, the plastic’s material, design, type, labeling, and other factors are
SK chemical announced on Dec. 18 that it has obtained approval from the Science-Based Targets initiative (SBTi) for its short-term greenhouse gas reduction target by 2032.This marks the first time a domestic chemical company has received validation of its greenhouse gas reduction goals from the SBTi
Samsung Heavy Industries disclosed on Dec. 18 the arbitration tribunal’s decision regarding the damage compensation for defects in the cargo holds of two liquefied natural gas (LNG) carriers they built.On Dec. 15 (local time), the London arbitration tribunal ruled that Samsung Heavy Industries must
Recent data reveals that less than 1 percent of the South Korean population, specifically the top wealth holders, possess nearly 60 percent of the total financial assets of all households. Their combined financial assets amount to 2,747 trillion won (US$2.11 trillion), with real estate assets reachi
The recent global downturn in the real estate market has exposed significant risks of substantial losses for overseas real estate funds sold by domestic banks.According to financial sources on Dec. 18, the aggregated sales balance of overseas real estate funds by the top five banks in South Korea --
On Dec. 18, Korea Development Bank (KDB) and the Korea Ocean Business Corporation (KOBC) announced the selection of the Pan Ocean-JKL consortium as the preferred bidder for the acquisition of the management rights of HMM, the largest ocean container shipping company in South Korea. After negotiation
To defend the leadership of Cho Hyun-bum, the chairman of Hankook & Company, the holding company of Hankook Tire, his father, Cho Yang-rae, the honorary chairman, has stepped forward as a “white knight,” acquiring an additional 0.32 percent stake in the company. Hyosung Advanced Materials, led by Ch
Samyang Holdings announced on Dec. 18 that it has acquired a controlling stake in Verdant Specialty Solutions, a global specialty chemical materials company. The acquisition amount is approximately 330 billion won.Headquartered in the state of Texas in the U.S., Verdant focuses on the production of
Pernod Ricard Korea announced its opening of the ‘JAMESON Distillery on Tour’ pop-up, a recreation of the JAMESON Distillery in Dublin, Ireland, to start from 21st at a representative resort during the winter season, Pyeongchang Phoenix Park. Following Jamsil Lotte World Mall and Andong Go-Out Campi
Coway Co., Ltd., the “Best Life Solution Company,” announced that it is on the ‘2023 Dow Jones Sustainability Asia Pacific Index (“DJSI Asia Pacific”)’ for the 11th consecutive year. Of the 609 evaluated companies worldwide, only 156, the top 25.6%, were selected, and only 36 companies from South Ko
More than half of the 82 major conglomerates surveyed have holding companies, with 38 groups transitioning to a “holding company system.” The average ownership stake in holding companies held by conglomerate owners and their families has slightly decreased compared to the previous year.According to
Securities firms have been caught engaging in illegal “bond shuffling” practices, transferring bond losses, sometimes amounting to as much as 500 billion won (US$383.44 million), to other clients in an attempt to preserve investment returns for certain institutions and corporations. These activities
Starting next year, KOSPI-listed companies with assets exceeding 10 trillion won (US$7.67 billion) will be obligated to submit disclosures in English. This mandatory requirement is expected to enhance information accessibility for foreign investors.The Financial Services Commission announced on Dec.
According to the Korea Securities Depository on Dec. 17, the cumulative settlement amount for the sale of foreign stocks by domestic investors has reached US$137.05 billion as of Dec. 14 since the beginning of this year. This figure surpasses the corresponding purchase settlement amount of US$135.97
Mirae Asset Global Investments announced on Dec. 17 that its Hong Kong subsidiary, established in December 2003, is celebrating its 20th anniversary.Launched in 2005, the Mirae Asset Asia-Pacific Star Fund marked a significant milestone as South Korea’s first domestically introduced fund managed dir
According to an analysis, up to 96,000 new foreigners will enter Korea every year for the next 50 years. Under these circumstances, if a worst-case low-fertility scenario is realized, one in three people of working ages in Korea will be foreign by 2072.According to the results of the 2022 Population
The World Radiocommunication Conference-23 (WRC-23), an international negotiation event for the international distribution of frequencies, successfully identified candidate frequencies for the development of 6th generation (6G) mobile communication. In particular, three of the four candidate bands p
Samsung Electronics, once the world’s No. 1 research and development (R&D) company, has slipped to seventh place. The number of Korean companies in the top 2,500 global R&D companies has also dropped.Samsung’s R&D investment in 2022 amounted to 18.435 billion euros (US$20.083 billion), pulling down