Chong Kun Dang Pharmaceutical, a leading biotechnological and pharmaceutical company in South Korea, is poised to achieve a nearly sevenfold increase in operating profit in the fourth quarter of last year compared to the same period the previous year. This remarkable growth is attributed to the tech
Following the passing of the late Lee Kun-hee, the former chairman of Samsung, in 2020, it has been revealed that the mother and two daughters of the Samsung owning family, including Hong Ra-hee, the former director of the Leeum Samsung Museum of Art; Lee Boo-jin, the CEO of Hotel Shilla; and Lee Se
The Incheon Free Economic Zone Authority announced that Yoo Jeong-bok, mayor of Incheon Metropolitan City, participated in the Consumer Electronics Show 2024 being held from Jan. 9 to 12.At this year’s CES 2024, Incheon is operating a 132.23 square meter pavilion in the North Hall of the Las Vegas C
Samsung Electronics’ stock price has been struggling to reach the 80,000-won (US$60.61) mark. On Jan. 9, the company concluded the market at 74,700 won, recording a decrease of 1,800 won, or 2.35%, compared to the previous day. Although Samsung Electronics briefly rose to 77,000 won in the early mar
Starting from the second half of this year, South Korean companies will have the option to settle export and import payments in Korean won when engaging in trade transactions with certain countries from the Association of Southeast Asian Nations (ASEAN). This move is expected to allow businesses to
In the fourth quarter of last year, the annual performance of South Korea’s largest container shipping company HMM and bulk carrier operator Pan Ocean plummeted due to a slump in the shipping industry.According to financial information firm FnGuide on Jan. 8, the estimated performance consensus for
The police have initiated a forced investigation into Il-Yang Pharmaceutical, which is under suspicion of stock price manipulation.According to the police on Jan. 5, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency executed a search and seizure warrant at the headquarte
LG Electronics continued its strong performance in 2023, setting new records in sales for the third consecutive year and achieving significant growth. Notably, in the fourth quarter of 2023, its operating profit surged by an impressive 350.9% compared to the same period last year, demonstrating soli
The majority of Chinese companies listed on the South Korean stock market have experienced a sharp decline in their stock prices over the past year. This is attributed to the economic downturn in China last year, which worsened investor sentiment towards Chinese companies coupled with accumulated di
As the Hang Seng China Enterprises Index (HSCEI) in Hong Kong experiences a sharp decline, a substantial loss in equity-linked securities (ELS) linked to this index is anticipated, with outstanding sales of related products reaching a staggering 20 trillion won. Concerns are mounting over potential
The government’s new entrusted operating funds for the Korea Investment Corporation (KIC), the sovereign wealth fund, have effectively ceased from 2022 until last year. Some argue that the KIC faces concerns about its international competitiveness. In a landscape where competing sovereign wealth fun
According to market research firm Euromonitor, in 2023, the average coffee consumption per adult in South Korea reached 405 cups per year, more than double the global average of 152 cups. This marks the highest consumption rate among major Asian countries, translating to more than one cup of coffee
More than four out of 10 listed companies in Korea were unable to pay interest with money they made, according to a recent survey. High interest rates and stagflation worsened the business environment, raising red flags on their financial conditions.As of the third quarter of 2023, 710 of 1,674 list
In 2023, foreign direct investment (FDI) in Korea exceeded US$32.7 billion, a record high. High-tech materials, parts, and equipment such as semiconductors, secondary batteries, and biotech items led the increase in FDI in Korea.According to the Ministry of Trade, Industry and Energy on Jan. 4, FDI
The overseas non-performing loan portfolios of the four major banks in South Korea surged to nearly 300 billion won in just one year. The rapid increase raised concerns as delinquency amounts spiked due to the impact of high-interest rate shocks, prompting warnings about the management of overseas f
The government has announced its intention to reduce the ratio of household debt to gross domestic product (GDP) to below 100 percent by the year 2027.On Jan. 4, the government released the “2024 Economic Policy Direction,” outlining its strategy for managing household debt.According to the Bank for
The Financial Supervisory Service (FSS) announced on Jan. 4 that it has uncovered additional evidence of illegal short selling amounting to tens of billions of won, following the detection of naked short selling by global investment banks BNP Paribas and HSBC.In a New Year’s press conference for in-
Starting in the second half of this year, non-index-linked general public funds will be directly listed on the Korea Exchange and traded like exchange traded funds (ETFs). With increased convenience for investors and reduced sales commissions, expectations are high for the revitalization of the fund
Park Hyun-joo, chairman of Mirae Asset Group, has pledged to donate 25 percent of his stake in Mirae Asset Consulting to the Mirae Asset Hope Foundation to foster national talent.Mirae Asset Group announced on Jan. 2 that Park, the founder of the group, signed a donation agreement with the Mirae Ass
On Jan. 2, President Yoon Suk-yeol announced, “I will push for the abolition of the Financial Investment Income Tax.” This move is expected to spark controversy as it involves the cancellation of an agreement with the opposition party.On this day, President Yoon attended the “2024 Securities and Der