A well-known Chinese automotive manufacturer is currently under investigation by South Korean law enforcement agencies for allegedly establishing a subsidiary in South Korea and illicitly acquiring domestic battery technologies from Samsung SDI and SK on, formerly SK innovation.According to industry
Samsung Electronics and SK hynix will build the world’s largest and best semiconductor mega cluster in the southern part of Gyeonggi Province with a total investment of 622 trillion won. The Korean government will support this project by creating infrastructure and an investment environment, strengt
The Financial Services Commission (FSC) has stated that trading bitcoin spot exchange-traded funds (ETFs) violates domestic capital market regulations in South Korea. However, overseas bitcoin futures ETFs will continue to be traded as usual.On Jan. 15, the FSC announced that the issuance of bitcoin
The Korean beauty care industry is turning its eyes to the Japanese market. It is a strategy to try to rebound by targeting Japan as an alternative market as its performance weakened due to a decline in the market share of Korean cosmetics in China.LG Household and Health Care’s cumulative sales thr
The number of technical regulations notified by World Trade Organization (WTO) member countries in 2023 exceeded 4,000 for the first time ever, a record high, showing that technical barriers to trade were rising among countries.The Korean Agency for Technology and Standards under the Ministry of Tra
Cosmax, a global cosmetics original design manufacturing (ODM) company, will begin targeting emerging markets such as the Middle East and South America beginning from 2024.Last year, Cosmax operated the Emerging Markets TF for four regions -- the Middle East, South America, India, and Africa -- to s
GC Biopharma Group is approaching close to 5 trillion won in total assets, setting a milestone as the first traditional pharmaceutical group to reach the disclosure threshold for public reporting.According to the electronic disclosure system on Jan. 11, the total assets of GC Biopharma Group, includ
Hyundai Motor Company has entered into a four-year contract to receive lithium, a crucial material for electric vehicle batteries, from a Chinese supplier.China’s lithium supplier, Shenzhen Chengxin Lithium Group, announced on Jan. 11 that it has signed a contract with Hyundai Motor to supply lithiu
Kia announced on Jan. 11 that it signed a partnership with Uber at CES 2024, the world’s largest electronics and IT trade show currently being held at the Las Vegas Convention Center in the U.S.Through the agreement, both companies will work to identify the optimal vehicle specifications for Uber dr
South Korea would be hit hard if China invaded Taiwan and a war broke out, according to a forecast by Bloomberg Economics.On Jan. 9 (local time), Bloomberg Economics, an economic research institute affiliated with Bloomberg News, said the geopolitical crisis in Taiwan could intensify ahead of a pres
Following the largest fine ever imposed by the Fair Trade Commission due to a game item probability manipulation controversy, Nexon announced improvements just one week later.On Jan. 9, Nexon apologized for the recent controversy in a live broadcast starting at 6 p.m. and announced the suspension of
LS Eco Energy (formerly known as LS Cable & System Asia) has become the first Korean company to sign a large-scale long-term rare earth purchase contract in Vietnam. The contract signing is expected to stabilize LS Eco Energy’s rare earth supply chain by diversifying import sources of rare earth tha
After proudly becoming the first domestic startup to directly list on the NASDAQ, Hanryu Holdings is facing a red light for its continued listing just half a year after going public. Hanryu Holdings is the holding company of Hanryu Bank, which operates the Korean wave fandom platform FANTOO. FANTOO
CES2024, the world's largest IT show, has begun in Las Vegas, U.S. The Las Vegas Convention Center (LVCC), the main venue for CES2024, and the entire city where the show floor is located are bustling with exhibitors and visitors from around the world.Compared to CES2023, which resumed last year afte
STX has secured a stake in a local lithium mine in Peru to secure lithium, a key material for secondary batteries and trade lithium concentrates.STX announced on Jan. 9 that it has secured a stake in a lithium mine located in Puno Province in southeastern Peru and an off-take right to sell lithium c
With the re-addition of Guatemala, the only Central American country that had previously withdrawn from the Free Trade Agreement (FTA) with South Korea and Central American nations, the FTA has reached its final completion.The Ministry of Trade, Industry, and Energy (MOTIE) announced that it formall
Hyundai Motor Company today presented its vision for a hydrogen-powered, software-driven transformation beyond mobility applications at CES 2024. Under the theme ‘Ease every way,’ the company held its Media Day at the Mandalay Bay Convention Center in Las Vegas to highlight its future blueprint for
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
FILA Holdings announced a new leadership structure on Jan. 8, naming FILA USA President Todd Klein to take on the newly created role of Global Brand President. Klein will report to FILA Holdings and join the board of FILA Luxembourg, a wholly owned subsidiary of FILA Holdings that oversees FILA’s gl
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