HYBE has become the first entertainment company in South Korea to surpass 2 trillion won in annual sales. The significant sales and streaming achievements of BTS and Seventeen have been identified as major contributors to this success.HYBE announced on Feb. 26 that its sales on a consolidated basis
Amid growing concerns about expanding trade risks in big election years in 76 countries around the world holding elections, the Korean government has decided to actively manage risk factors through a strategy meeting among industry, academia, and research centers.The Ministry of Trade, Industry and
The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced on Feb. 23 that they held an online briefing on the 2024 Secondary Battery U.S. Investment Strategy to help Korean companies break into the U.S. secondary battery market.The event was
On Feb. 20, the Incheon Free Economic Zone (IFEZ) announced the inauguration of Yoon Won-seok, the former executive vice president of the Economic and Trade Cooperation at the Korea Trade-Investment Promotion Agency (KOTRA), as its 8th Commissioner. The position of Commissioner of the Incheon Free E
The U.S. government has decided to support SK siltron with investment funding in the form of a loan to expand its production in the United States. SK siltron CSS currently operates a factory in Bay City, Michigan.The Loan Programs Office (LPO) under the U.S. Department of Energy announced on Feb. 22
Hyundai Engineering & Construction (Hyundai E&C) has been selected as the preferred negotiating partner for a major nuclear power plant project in Bulgaria, marking its return to the overseas market after 15 years.The company announced on Feb. 23 that it has solely passed the pre-qualification asses
SK telecom announced on Feb. 22 that it has successfully completed the conceptual verification of AI-based wireless transmission and reception technology for future 6G mobile communications for base stations in cooperation with NTT DoCoMo, NTT, and Nokia Bell Lab.The developed technology incorporate
Government officials from Korea, the United States, and Japan have met and agreed to strengthen trilateral cooperation to respond to the changing global environment, including supply chain instability and export controls.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Feb. 22
South Korea holds the potential to become a global battery supply base, necessitating a national strategy to realize this potential, according to claims made by industry experts. The Korea Chamber of Commerce and Industry’s Sustainability Growth Initiative (SGI) highlighted in its report on Feb. 22,
FILA announced on Feb. 23 that it has successfully installed water filtration systems at several health centers in Cambodia’s Ratanakiri province to contribute to improved living standards for local residents in one of the Southeast Asian country’s most marginalized regions.In line with its key soci
The U.S. government has announced a plan to provide over 2 trillion won (US$1.5 billion) in subsidies to the U.S.-based semiconductor company GlobalFoundries. This marks the first large-scale support initiative since the enactment of the CHIPS and Science Act (CSA) in 2022 aimed at building the semi
The Fair Trade Commission (FTC) is targeting franchise businesses owned by private equity funds. In particular, tensions within the industry have escalated recently after Mom’s Touch was fined 300 million won (US$225,989) for unfair practices towards its franchisees.Yook Sung-kwon, the Secretary Gen
Hyundai Engineering & Construction (Hyundai E&C) has become highly likely to win a project to build Kozloduy Nuclear Power Plant in Bulgaria with a total budget of nearly 19 trillion won, foreign media outlets reported.The Kozloduy Nuclear Power Plant Committee reviewed five proposals and concluded
Samsung Electronics is expanding its influence in the North American region, including Canada and the United States, by leading with its Open RAN solution. The company plans to strengthen its position in the global telecommunications equipment market, which is currently dominated by Huawei, Ericsson
SK hynix President and CEO Kwak Noh-jung stated that the company is carefully considering the selection of a site for an advanced packaging facility in the United States, targeting all states.On Feb. 19, CEO Kwak made these remarks during a meeting with the press following the regular meeting of the
KT&G has been recognized as a leading company in the climate change response and water resource management sector by Carbon Disclosure Project (CDP), a global environmental information assessment organization, achieving the Leadership grade.Following last year, the company has once again attained to
Hyundai Motor Group which runs Hyundai Motor, Kia Corp. and Genesis sold a total of 7.34 million vehicles globally in 2023, ranking third in sales, according sources in the automobile industry. This marked the second consecutive year that the group has ranked among the big three.Toyota Group, with b
Hyundai Motor Company is recalling about 90,000 Genesis vehicles in the United States due to the risk of engine fire.Hyundai Motor America is recalling a total of 90,907 vehicles, including the 2015-2016 Genesis, the 2017-2019 Genesis G80-G90, and some 2019 Genesis G70 cars, according to the Nationa
This year it is projected that the annual overseas construction contract orders for South Korean companies will reach US$40 billion. It is expected that the contract amount will expand compared to previous years through projects such as nuclear power plants, renewable energy, and investment developm
As the global political environment is expected to change due to elections in major countries, Korean industries discussed trade issues such as global policy responses with the Korean government. Companies submitted recommendations to the Korean government on trade issues, including difficulties in