The deficit in South Korea’s consolidated fiscal balance hit an all-time high as the government increases welfare spending amid a falling tax revenue due to an economic downturn.Corporate tax revenue decreased 600 billion won (US$501.46 million) on year in August due to companies’ poor performance,
Samsung Electronics announced on Oct. 8 that the operating profit of its IT and mobile (IM) division, which is in charge of the company’s smartphone business, is estimated at 2 trillion to 2.5 trillion won (US$1.67 billion to 2.09 billion) in the third quarter of this year. The figure increased up t
Samsung Electronics announced on Oct. 7 that it has developed the world’s first 12-layer 3D through silicon via (TSV) technology for cutting-edge semiconductor packaging, which is to allow signal transmission to and from a semiconductor chip and protect the chip from external shocks during chip moun
The Bank of Korea announced on Oct. 8 that South Korea’s exports and imports totaled US$45.15 billion and US$40.39 billion in August, respectively. Its goods account surplus fell from US$10.92 billion to US$4.77 billion in one year and hit a 67-month low.The goods account surplus has continued to de
Qatar Petroleum is expected to select builders for its LNG carriers within this year, raising expectations of the big three Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.Earlier market watchers speculated that Qatar migh
Liberty Korea Party lawmaker Yoon Han-hong said on Oct. 7 that the Moon Jae-in administration’s nuclear phase-out policy has led to a total loss of 43 trillion won so far and it is divided into an 8.3 trillion won decline in Korea Electric Power Corp.’s net profit, 6.5 trillion won in renewable ener
The Korean display industry desperately needs technological breakthroughs to break out of the current difficult situation, Lee Dong-hoon, president of Samsung Display and chairman of the Korea Display Industry Association (KDIA) said at the 10th Display Day held at JW Marriott Hotel in Seoul on Oct.
Hankook Tire & Technology announced on Oct. 7 that it will supply high-performance tire Ventus S1 Evo 3 SUV to the 3rd-generation Cayenne, a sports utility vehicle (SUV) of Porsche.Hankook Tire, which first partnered with Porsche through the supply of tires for the crossover SUV model Macan, signed
KCF Technologies (KCFT), a Korean copper foil supplier which will be soon taken over by SKC of SK Group, has begun mass production of 4-micrometer (μm) copper foil for electric vehicle (EV) batteries, becoming the industry’s first company to achieve the milestone.KCFT announced on Oct. 7 that it mas
The Big 3 Korean shipbuilders -- the Hyundai Heavy Industries Group, Daewoo Shipbuilding & Marine Engineering (DSME), and Samsung Heavy Industries -- are winning a growing number of orders for LNG-fueled vessels. They are already well recognized for their technological prowess in building LNG carrie
LG Electronics Inc. delivered an earnings surprise in the third quarter. The company announced on Oct. 7 that it posted record high sales in the July-September period contrary to market expectations.The company's temporary estimates of third-quarter sales and operating profit reached 15.70 trill
SsangYong Motor slid two notches from third place to fifth in car sales rankings in the Korean market in September.It not only lost its third place in monthly sales to Renault Samsung but placed fifth after Mercedes-Benz for the first time this year.Hyundai Motor and Kia Motors came in first and sec
Pension funds and public funds, including the National Pension Service (NPS), are expected to tone down their aggressive stock purchasing after boosting the KOSPI market by purchasing large-cap stocks since August.As negative indicators of the global economy have recently been announced, an increasi
Foldable phones and dual-screen phones are competing for technology leadership in the emerging folding smartphone market. Foldable phones can be folded up and down or right and left, while dual screen phones connect two separate displays with hinges. .Foldable phones are pioneered by Samsung Electro
The Korea Exchange announced on Oct. 6 that Samsung Electronics, SK Hynix, Hyundai Motor, Celltrion and LG Chem were found on the KOSPI’s top 10 market cap list at the end of last year, at the end of the first half of this year and on Oct. 4 this year.POSCO, SK Telecom and Korea Electric Power Corp.
The South Korean economy is getting worse and worse. Its exports and capital expenditures fell for 10 months and nine months in a row from a year earlier, respectively. Although the South Korean government is mentioning a global economic slowdown, experts are pointing out that the deterioration is d
Google has blocked Huawei Mate 30 users from installing Google apps such as Google Map, YouTube and Gmail. Under the circumstance, Huawei’s presence in global markets such as Europe is likely to be further affected.The latest flagship smartphone of the company, which was unveiled in Germany on Sept.
[비지니스코리아=정민희 기자] 한화그룹의 대표적 사회공헌 프로그램인 ‘한화와 함께하는 서울세계불꽃축제 2019’가 10월 5일 토요일 저녁 7시부터 약 2시간 동안 여의도 63빌딩 앞과 이촌지구 한강공원 일대에서 성황리에 개최됐다.2000년 첫 행사 이후 올해로 17회째를 맞은 이번 불꽃축제에는 한국, 스웨덴, 중국 등 3개국 대표 불꽃팀이 참여했다. 총 10만여 발의 다채롭고 환상적인 불꽃이 가을 밤하늘을 수놓으며, 가족, 연인, 친구 등 100만여명의 관람객들에게 잊지 못할 가을밤의 추억을 선사했다.올해 불꽃축제는 ‘가장 빛나는
[비지니스코리아=윤영실 기자] KOTRA는 중소벤처기업부, 소상공인시장진흥공단과 함께 4,5일 이틀간 서울 코엑스에서 ‘2019 프랜차이즈 해외진출 상담회(GFBP 2019)’를 개최한다고 밝혔다.국내 프랜차이즈 기업의 해외진출을 돕는 이번 상담회는 ’프랜차이즈 서울‘ 전시회와 연계해 진행된다.이번 상담회에는 미국, 아세안(ASEAN), 러시아 등 10개국에서 온 40개사 바이어와 국내 프랜차이즈 기업 약 140여개가 참가해 열띤 상담을 벌이고 있다.프랜차이즈는 창업 초기 위험부담이 낮은 비즈니스 모델로 안정적인 로열티 수익을 창출
KT announced on Oct. 3 that it has signed a memorandum of understanding (MOU) with Korea Midland Power (KOMIPO) to build smart power plants based on 5G communications technology.Under the agreement, KT will build a 5G network at power plants and cooperate with KOMICO in developing 5G services for sm