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Samsung SDI’s EV Battery Factory in Xi’an Begins Operations
Chinese BatteriesSamsung SDI held a ribbon-cutting ceremony for its electric vehicle battery manufacturing plant in Xi’an, China on Oct. 22. The company started the construction of the manufacturing...
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KT to Run World’s Largest Submarine Cable Network
Under the SeaKT announced on Oct. 22 that it is to take part in the New Cross Pacific (NCP) Project as a coordinator and set up and run a network operation center for the project in Busan City. The...
View ArticleUAMCO to Function as Corporate Restructuring Company
Bad BankUAMCO is getting into the business of restructuring insolvent companies next month by raising a fund of 4.2 trillion won (US$3.7 billion). It is expected that stocks and bonds worth up to 28...
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Korea Behind Japan, China in Investment into New Zealand's Growing Economy
Investing in New ZealandNew Zealand Gov't Hopes Korean Investment into New Zealand from Korea Matches Korean TradeThe New Zealand Investment Seminar was held by New Zealand Trade & Enterprise at...
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Doubts about Policy Impact of Wage Peak System in Korea
Wage Peak MisgivingsOn Sept. 13, a tripartite commission consisting of Minister of Employment and Labor Lee Ki-kweon representing the government, Chairman of the Korea Employers Federation Bahk...
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Gov't Scraps Requirement for Foreign Investor to Hand in Written Consent to...
Less Red TapeFrom now on, foreign investors will not need to turn in written consent to provide personal information when they make investments in domestic stocks. Korean securities firms have required...
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Samsung Decides on Compensation for Industrial Leukemia Victims
Money for CancerOn Oct. 21, Samsung Electronics announced that the company agreed on the size of the compensation for 30 people who retired after working at its semiconductor work sites, and paid them...
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Hyundai Steel Develops High-strength Steel Plates
Complex, Delicate SteelHyundai Steel announced on Oct. 23 that the company succeeded in the development of a tough 32 kg strength steel plate that can be used in the side-outers of vehicles for the...
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LG Electronics to Foster In-house Venture Business
Ventures Under UmbrellaLG Electronics is ready to operate an internal corporate venture system. This seems to be an attempt to boost its profits and seek new breakthroughs amid sluggish smartphone...
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Foreign Capital Eyes Korean Fintech Startups
Eye on the MoneyForeign capital in the U.K., China, and the U.S. have an eye on domestic fintech startups. They are planning to foster domestic fintech companies with investments of hundreds of...
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Number of Samsung Pay Users in Korea Breaks One Million Mark
Pay MilestoneSamsung Electronics announced on Oct. 25 that the number of Samsung Pay users in Korea topped one million two months after the release of the mobile payment service. According to Samsung...
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Controversy over Radioactive Cement Still Wet
Tainted by JapanControversy over radioactive cement is coming back to the surface, although cement manufacturers are claiming that they have specific evidence that the coal ash they import from Japan...
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TPP Likely to Affect Korean Exporters to U.S. Market
Shifting Export LandscapeJapan’s accession to the Trans-Pacific Partnership (TPP) is predicted to intensify the competition between Korean and Japanese companies in the United States, with the latter...
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Korea’s Job Creation Capacity on Decline
Making Fewer JobsThe Hyundai Research Institute released a report on job creation capabilities by industry since the global financial crisis on Oct. 25, and said that Korean industries recorded an...
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China’s Tsinghua Unigroup Eyeing SSD Market
SSD Market FluctuationA new market report says that Tsinghua Unigroup, a new rising star in the global semiconductor industry, is targeting the solid state drive (SSD) market where Samsung is enjoying...
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Rigging Scandal Puts VW Dealerships in Korea at Greatest-ever Risk
VolkshameThe Volkswagen scandal drove down Volkswagen car sales and weakened its brand power in Korea. It is now threatening the survival of Volkswagen dealerships by blocking cash flow into them....
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Largest Christmas-themed FAIR in ASIA Opens at KINTEX
Christmas FairA fair specialized about Christmas will take place from Dec. 11 to 20 at the KINTEX Convention Center located in Goyang City, Gyeonggi Province. Co-hosted by EXPORUM, an exhibition...
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POSCO Case Building Consensus between Labor, Management
Wage Peak SystemThe wage peak system in Korea is not legally enforced, and there is a variety to the forms that the system takes in different companies. For instance, the age at which the salaries of...
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Korea Aims to Localize Skyscraper Design Technology
Scraping the Sky LocallyThe government will begin to localize design technologies for skyscrapers such as the 555-meter-tall Second Lotte World, the 305-meter-tall Northeast Asia Trade Center, and...
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National Defense Committee Members Calling for KFX Project Budget Reduction
Fighter Plane DetailsThe Korean Fighter Experimental (KFX) project has come to a critical juncture, as some members of the National Defense Committee of the National Assembly are mentioning the...
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