Germany, once considered the growth engine of Europe, is mired in an economic slump. The International Monetary Fund (IMF) has projected that Germany will experience negative growth of 0.3 percent this year, making it the only G7 country among the seven major economies to undergo a contraction. The
In August, exports outperformed expectations, surpassing seasonal factors such as summer vacations. The year-on-year decline in exports narrowed to single digits, and the decline in semiconductor exports to China also moderated compared to the previous month.According to the Ministry of Trade, Indus
The divergence in stock performance between e-commerce leader Coupang and the offline retail giant Emart is deepening. Throughout this year, Coupang’s stock has continued to rise as its growth prospects become more prominent, while Emart has seen its stock plummet to its lowest point amid an increas
The achievement pace of order targets for South Korea’s “Big 3” shipbuilders has shown a slowdown compared to previous years. This development is attributed to a decrease in orders compared to last year and the impact of selective orders due to limited dockyard capacity.According to shipbuilding ind
From January to July this year, the accumulated export value of ramen surpassed US$500 million for the first time, marking a historic high for the period. The success and popularity of K-content such as dramas and movies are believed to have contributed to this growth.According to the Korea Agro-Fis
The Biden administration, which is weaponizing semiconductor exports as a diplomatic tool, has set its sights on a new location other than China: the Middle East, a region known for its close ties with China. They’ve abruptly imposed controls on the export of AI-specific semiconductors to the Middle
The Korean Institute for Industrial Economics & Trade (KIET) revealed in its report titled “Global Non-Memory Semiconductor Market Landscape and Policy Implications” on Sept. 3 that last year Korea’s market share in the global non-memory semiconductor sector was a mere 3.3%, which is only one-third
The “Nujio’qonik” project, in which SK ecoplant plays a vital role, has achieved a significant milestone in its total three phases, valued at 15 Billion USD project. The project has successfully secured sites for wind power generation required for its three phases, building upon the ongoing activiti
A TV war has heated up between two Korean home appliance giants – Samsung Electronics and LG Electronics – at IFA 2023, Europe’s largest consumer electronics and information technology show. While the two Korean TV giants are leading the premium TV market with their strong technological competitiven
Hyundai Motor Group is faced with complicated situations in its business operations in France after France’s announcement of a draft decree to subsidize electric vehicles based on carbon emissions. While the draft decree is not as worrisome as the U.S. Inflation Reduction Act (IRA), it will be a tot
Korean Actress Hyeri, who is also a former member of Korean girl group “Girl’s Day,” revealed that she did not receive a refund after having her airplane seat unilaterally downgraded. Therefore, Delta Air Lines offered an apology in a statement.According to Delta Air Lines, some first-class passenge
On Aug. 31, Celltrion announced it has completed the product approval application for its autoimmune disease therapeutic “CT-P43,” a biosimilar of STELARA (ustekinumab), to Australia’s Therapeutic Goods Administration (TGA).Celltrion applied for CT-P43’s product approval in Australia for all indicat
KT announced on Aug. 31 that it will be hosting a conference with the Global System for Mobile Communications Association (GSMA) named Mobile 360 Asia Pacific (M360 APAC) at the Westin Chosun Hotel in central Seoul Sept. 7-8.The M360, held continentally, witnesses participation from over 1,000 major
On Aug. 31, Huawei Korea announced the signing of a memorandum of understanding (MOU) the day before with Dankook University to promote domestic ICT development and talent nurturing.Through this agreement, Huawei Korea will provide Dankook University students with hands-on technical training and lec
Korea is expected to become the third country in the world to have an independently developed anthrax vaccine.The Korea Disease Control and Prevention Agency (KDCA) announced on Aug. 31 that it plans to apply for a product license from the Ministry of Food and Drug Safety in October after completing
Demand for carbon fiber, which has come into the spotlight as a future material for the hydrogen era, is on the uptick. It is 10 times stronger than iron and also lighter, making it suitable for high-pressure hydrogen storage. It is expected to become a key material in the renewable energy and aeros
Korea Easy Payment Foundation, the official operator of ZeroPay, announced the introduction of Alipay+ global cross-border digital payments and marketing solutions at over 1.7 million merchants across South Korea, in a move to further ensure a smooth and convenient experience for Asian tourists.Star
The food and alcoholic beverage industry has fallen into a unique pop-up store. In particular, pop-up stores with stories that can show the brand's philosophy, history, and characteristics, not just introducing products, are increasing. In this era when pop-up stores have become a necessity, not an
Chinese lithium iron phosphate (LFP) batteries will be brought to Korea in large numbers. As electric buses and electric scooters that use LFP batteries have penetrated the Korean market, major automakers are also expanding the volume of Chinese-made LFP batteries for electric vehicles. The problem
Korean entertainment agency Attract has succeeded in securing investment from Singapore’s Evergreen Group Holdings.The company announced on Aug. 31 that it has received a major investment from Evergreen Group Holdings. The exact amount of the investment has been kept under wraps.Evergreen Group Hold