The Federation of Korean Trade Unions (FKTU) announced on June 8 that it will launch an all-out struggle against the Yoon Suk-yeol administration following its decision to boycott a meeting of the Committee on Economic, Social and Labor Affairs under the Presidential Office. Following the Korean Con
Both Hyundai Motor's and Kia Corp.’s stock prices fell in the Korean stock market. Investor sentiment about the two stocks was dampened after New York City filed a lawsuit against Hyundai and Kia for selling vehicles that are prone to theft.According to the Korea Exchange, Hyundai closed at 196,
The Federation of Korean Trade Unions (FKTU) decided to completely halt its participation in the Economic and Social Labor Committee (ESLC), a social dialogue body directly under the President, on June 7. The decision came in protest of the government's severe crackdown on the heads of industria
The number of YouTube users is rapidly closing in on Kakao. If the current trend continues, it appears that YouTube will surpass Kakao in the second half of the year. Meanwhile, as Google expands its influence in search, local portal Naver is witnessing a reduction in its footprint.According to the
According to evaluations by the World Economic Forum (WEF) and the International Institute for Management Development (IMD) in Switzerland, Korea’s national competitiveness has ranked high in macroeconomic stability, economic performances, and basic economic conditions and infrastructure such as ICT
Pernod Ricard Korea, the Korean unit of the wine and spirits company Pernod Ricard, announced on June 5 that it will operate the Drink More Water campaign in Korea as part of the Pernod Ricard Group’s promotion of responsible drinking across Asia.Pernod Ricard Group has been busy implementing the fo
SK Group created over 20.5 trillion won in social value (SV), up 1.6 trillion won from the previous year, through innovations in environmental and social business models last year. Social value refers to the degree to which a company has contributed to solving or alleviating social problems faced by
Americans prefer the Samsung brand over Apple, according to a survey. Samsung ranked 7th among the brands loved by Americans, while Apple came in at 10th.On May 31, CNBC cited the results of the “2023 Axios Harris Poll” on the top 100 brands loved by Americans.In the survey released by Axios on May
Cases of theft targeting Hyundai and Kia vehicles continue in the United States. The Wall Street Journal (WSJ) reported on May 30 (local time) that the anti-theft software upgrade that Hyundai and Kia have been implementing since February this year has failed to curb the increasing incidents, largel
Coway Co., Ltd., the “Best Life Solution Company,” announced today that Coway’s Seoul-based R&D Center, the Environmental Technology Research Institute, has received Witnessed Manufacturer’s Testing for Certification (WMTC) certificate from CSA. Coway has officially become a CSA-qualified witness la
The Incheon Port Authority (IPA) announced that it conducted marketing activities from May 22 to 25. The activities were aimed at stabilizing the Pacific South Express (PSX) - the regular Americas container route - and securing increased cargo volumes for Incheon Port. The targets of this initiative
Hana Financial Group announced at the United Nations Environmental Programme Finance Initiative (UNEP FI) Asia-Pacific Roundtable held in Korea that it will take the lead in "expanding investments in the field of biodiversity" for sustainable finance in the Asia-Pacific region. The UNEP FI is an int
Hyundai and Kia have agreed to compensate victims in a class-action lawsuit against the two Korean automakers over vehicle thefts in the United States.Hyundai and Kia announced on Nov. 18 (local time) that they reached an agreement to settle the class action lawsuit and expected to pay a total of 20
Shinhan Card announced on May 19 that it held a seminar under the theme of “Public Policy Establishment Cases Utilizing Big Data” at Shinhan Card's headquarters on May 18, inviting policy makers from the Hungarian Ministry of Finance and the National Tax Administration of Hungary.The seminar was
Hyundai Mobis is set to introduce M.Brain, a new brainwave-based technology for vehicles and healthcare, to be utilized for child psychological counseling.Hyundai Mobis announced on May 17 that it had improved the design and wearability of M.Brain, a driver inattentiveness monitoring system using br
Kia is considering investing in building a new electric vehicle (EV) production plant in Mexico. The move is seen as a step toward increasing local production in response to the U.S. Inflation Reduction Act (IRA). As the IRA provides subsidies in the form of tax credits only for electric vehicles pr
Ahead of the start of a mandatory environmental, social, and governance (ESG) disclosure system in Korea, the Korean business community has called for a slowdown in the pace of the introduction of the system. They argue that if the mandatory ESG disclosure system scheduled for 2025 is pushed forward
On the one-year anniversary of President Yoon Suk-yeol’s inauguration, management and labor are sharply divided in their evaluations of President Yoon’s labor policies.The Korea Enterprises Federation (KEF), which represents the interests of employers, released the results of a public opinion survey
CJ CheilJedang announced on May 2 that it will launch a project to discover and nurture promising young Korean chefs to further accelerate the spread of Korean foods around the world.The project is led by Lee Seon-ho, the eldest son of CJ Group Chairman Lee Jae-hyun.First, CJ CheilJedang will suppor
The world has a plastic problem. This was the clear realization that drove Konrad Becker and his three co-founders in 2021 to establish Would You Love (WYL), a Seoul-based startup with a mission to make the world more sustainable. Motivated by reports that Korea was responsible for some of the world