A top European Commission (EC) official has given a positive assessment for the first time to remedial measures submitted by Korean Air to the EC for its merger with Asiana Airlines.“We have seen very positive progress on some of the proposals in Korean Air’s remedial measures,” EC Justice Commissio
비지니스코리아 Jasmine Choi (pr@businesskorea.co.kr)Chinese panel manufacturer BOE is poised to overtake Samsung Display as the world leader in foldable panels by the end of the year, propelled by the aggressive market expansion of Chinese smartphone makers.Market research firm DSCC reported on Dec. 7 that
The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.Seasonal demand from new smartphone release to concentrate in 4QLX Semicon registered operating profit of KRW14.9bn (+91% QoQ) on sales of KRW412.8bn (-9% QoQ) for 3Q23. With its client hit by delays in the
The new regional head of the Hyundai Motor’s labor union, the largest single union in the country, has pledged to introduce a “4-day workweek” starting next year. This commitment has reignited the debate over reduced working hours, often described as a “hot potato” in the industry.On Dec. 6, Hyundai
The government is opening up industrial research and development (R&D) to foreign institutions to discover and develop key technologies in areas vulnerable to becoming weak links in South Korea’s flagship industry value chains, such as “technology critical for leapfrogging,” “next-generation growth-
With assets totaling 10.4 trillion won (US$7.91 billion), Hankook & Company, formerly known as the Hankook Tire Group, currently ranking 40th in the business sector, has reignited a power struggle among siblings. After a slump in 2021, the management dispute between the brothers is resurfacing, mark
In the third quarter, as the global NAND flash market saw a slight increase in sales, major companies also reported growth in revenue. Samsung Electronics maintained its lead with the number one market share, while SK hynix climbed from third to second place.Market research firm TrendForce reported
As China’s economy has expanded its independence in intermediate goods, it will be difficult for South Korea to enjoy the same benefits as in the past, according to a report on China’s growth structure transition process and the ripple effects released by the Bank of Korea (BOK) on April 4. The repo
Hanwha Systems has successfully launched South Korea’s first domestically designed and manufactured small Synthetic Aperture Radar (SAR) satellite, a low-orbit Earth observation satellite. This marks the first time a South Korean private company has independently developed, launched, and operated an
It has been revealed that the outstanding corporate loans of the five major commercial banks in South Korea have surged by over 65 trillion won since the beginning of this year. With the government and financial authorities seeking to restrain household loans, there is increasingly intense competiti
Korea Hydro & Nuclear Power (KHNP) has signed a memorandum of understanding (MOU) with Nusantara Power, a subsidiary of the Indonesian electric power company PLN, for the introduction and construction of innovative Small Modular Reactors (SMR) in Indonesia. The MOU was signed on Dec. 1 (local time)
Hanwha Systems has announced the successful launch of its self-developed “Small SAR Satellite” from the seas south of Jeju Island at exactly 2:00 p.m. on Dec. 4. This launch marks a significant milestone as it represents the first domestic development of such a satellite in South Korea. The launch v
According to the semiconductor industry on Dec. 2, Samsung Electronics has made significant progress with its extreme ultraviolet (EUV) lithography technology. At the recent KISM2023 academic conference in Busan, Samsung Electronics DS Division’s Fellow, Kang Young-seok, detailed the current state a
Sport utility vehicles (SUVs) are dominating the Korean new car market this year. More than six out of 10 new models sold this year were SUVs.A total of 767,979 SUVs, including recreational vehicles (RVs) such as minivans, were sold in Korea from January to October this year, according to industry s
The small and medium-sized enterprise (SME) sector is urging the swift passage of the “Business Succession Support Act” currently under consideration in the National Assembly, advocating for businesses to opt for continuity rather than closure. This comes as numerous companies consider closure inste
Autonomous a2z, a member of the Venture Enterprise Association and an autonomous driving startup, disclosed on Nov. 27 that it has signed a memorandum of understanding with Horiba Mira from the U.K., focusing on future mobility.In October, Autonomous a2z successfully completed a Series B funding rou
The Korean nuclear power industry has growing anticipation for exporting nuclear power plants to Europe.Korea and the United Kingdom signed nine memoranda of understanding (MOUs) on nuclear power cooperation on the occasion of Korean President Yoon Suk-yeol’s state visit to the United Kingdom on Nov
In 2024, 165,000 foreign workers will enter Korea on non-professional work visas (E-9). This will be the highest number ever. The industries they can work in will also be expanded to include restaurants, mining and forestry.The Ministry of Employment and Labor announced the decision in a meeting of
China has overtaken Germany as the top exporter of electric vehicles (EVs) to Korea.Korea’s imports of Chinese EVs totaled US$172 million in October, according to the Korea International Trade Association (KITA). That’s more than double the amount of Korea’s German EV imports (US$70 million). This i
Jusung Engineering, a semiconductor, display, and solar equipment company, has carved a mythical path in the barren land of domestic ventures. This year marks its 30th anniversary. Established in 1993, the company has experienced various challenges but has achieved remarkable growth through continuo