The Inclusive Framework held an online general meeting on Oct. 8 and finalized the Pillar 1 and 2 agreements and action plans on the digital tax. As a result, multinational IT companies doing business in South Korea such as Amazon, Google, Facebook and Netflix are likely to have to pay more taxes in
SK E&S and Plug Power have signed a joint venture contract for joint business in the Asian hydrogen market. Their stakes in the joint venture are 51 percent and 49 percent, respectively.They are planning to build a gigafactory and an R&D center for hydrogen fuel cell and water electrolysis equipment
Samyang Foods announced on Oct. 5 that it will establish Samyang Foods Shanghai Limited in Shanghai, China, in December, following the launch of Samyang America in Los Angeles in August.China and the United States are Samyang Foods’ major markets that account for 45 percent and 15 percent of oversea
Samsung Electronics was ranked 14th in the Global Top 100 Brand Corporations 2021, which was released by the European Brand Institute (EBI), a brand consulting firm based in Vienna, Austria, on Oct. 4. Samsung Electronics was the only Korean company included in the list.Samsung Electronics' bran
Korean Air announced on Sept. 28 that it has completed a transfer of its IT systems to Amazon Web Services (AWS). Korean air announced the transfer plan in November 2018.Korean Air is the first large airline to complete a transfer of its enterprise IT system to a cloud computing service.Korean Air h
Red ginseng brand CheongKwanJang of Korea Ginseng Corp.(KGC) announced on Sept. 16 that it opened “Ginseng Museum Cafe by CheongKwanJang” in Manhattan, New York on Sept. 14 (local time).Ginseng Museum Café is the world's first experiential store created by CheongKwanJang. It combines a museum wi
Rivian, a U.S. electric vehicle startup, has released the world’s first electric pickup truck, ahead of Tesla and General Motors. Of note, the vehicle is loaded with batteries from Samsung SDI.On Sept. 14, CNBC and other U.S. economic media outlets reported that Rivian rolled out a commercial electr
The Korea Fair Trade Commission announced on Sept. 14 that it decided to impose a fine of 207.4 billion won, along with a corrective order, on Google. This is against app preloading, a main business model of Google. According to the commission, it constitutes an unfair trade practice and an abuse of
Competition in the global foundry market is expected to heat up as Qualcomm, a big global foundry client, suggests the possibility of starting business cooperation with Intel, which has re-entered the foundry business.Qualcomm CEO Cristiano Amon recently expressed his full support for the EU plans t
Global retail giant Amazon is reportedly planning to enter the TV market. According to U.S. economic media outlet Business Insider, Amazon is planning to introduce 55- to 75-inch models to the U.S. marketAmazon has been internally preparing to launch its TV models for more than two years. Amazon is
Competition is heating up in the e-commerce and subscription sector of South Korea with 11Street now in the sector in collaboration with its parent company SK Telecom and Amazon.The first form of the collaboration is a paid subscription service starting from 4,900 won a month and providing direct pu
Google is developing chips on its own for use in Chromebooks. At present, Google Chromebooks come with Intel and AMD CPUs.Nikkei Asia recently reported that Google tablet PCs and Chromebooks equipped with Google CPUs are planned to be released in 2023. The company is planning to release the Pixel 6
The United States International Trade Commission (USITC) has initiated a patent infringement investigation related to Samsung Electronics and LG Electronics at the request of Sonrai Memory.The plaintiffs including the non-practicing entity are claiming that Samsung Electronics and LG Electronics inf
LG Household and Health Care is targeting the luxury hair care market by acquiring American hair care brand Arctic Fox.The company announced on Aug. 31 that it has signed a contract to acquire a 56 percent stake in Boinca, a U.S. company that owns Arctic Fox, for US$100 million.Arctic Fox is a vegan
AIA Life announced on Aug. 31 that AIA Vitality T Healthy Habit is now available on SK Telecom’s new T Universe platform, opening access to Korea’s leading health, and wellness and insurance program as a service to all customers.AIA Vitality will be offered together with two of SK Telecom’s new subs
Cryptocurrency exchange UPbit recorded a 24-hour trading value of 12,438.2 billion won at 08:55, Aug. 30. The combined trading value at the four major exchanges including UPbit was 13,841.8 billion won at that moment, whereas KOSPI recorded a trading value of slightly over 11 trillion won on Aug. 27
Samsung Electronics, Amazon and Tesla CEO Elon Musk expressed their objection to Nvidia’s ARM acquisition. The possibility of M&A failure is rising, with competition authorities opposed to it as well.ARM is the largest semiconductor chip designer in the United Kingdom and its clients include Apple,
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. For Tesla’s D1 processor, packaging technology will be the key process. We recommend paying attention to domestic back-end process players. EDA companies, such as Synopsys and Cadence, should also ben
SK Telecom is seeking to preempt the global market for 5G mobile edge computing (MEC) in partnership with Korean 5G telecommunication equipment manufacturers HFR and NTELS.5G MEC technology is designed to provide hyper-low-latency communication to users by deploying small data centers at base statio
The Bank of Korea announced on Aug. 19 that South Korea's external financial assets increased by US$85 billion to an all-time high of US$2,073.4 billion in the second quarter of this year."Securities investment increased by US$50.9 billion with foreign stock markets rallying and equity securitie