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Reporter : Kim Hyun-bin
Sat, March 25, 2023 | 19:09
Lotte Biologics accused of stealing trade secrets from Samsung
Prosecutors have launched an investigation into a Lotte Biologics employees who is suspected of stealing Samsung Biologics' trade secrets. The Incheon District Prosecutors' Office sent investigators to search Lotte Biologics' headquarters in Lotte World Tower, Seoul, Friday.
Samsung, SK on alert over US export ban on chip equipment to China
Samsung Electronics and SK hynix are on high alert over the Biden administration's latest move to restrict the exports of U.S. semiconductor equipment and high-powered chips to China to curb the rise of the world's second-largest economy in high-tech industries, according to industry officials Sunday.
LS Electric Vietnam relocates main plant to Bac Ninh to spur growth
BAC NINH, Vietnam - LS Electric is on the verge of completing the relocation of its new plant from Hanoi to Bac Ninh, Vietnam later this month. The site of the new plant is 30,000 square meters and the area of the production facility is twice that of the existing Hanoi plant, aiming to better penetrate the Southeast Asian market, according to company officials, Thursday.
LS Electric chief aims to expand presence in Vietnam
Hanoi, Vietnam - LS Electric, a leading Korean electric company in Vietnam, is seeking to expand its presence not only in the country but throughout the ASEAN market, according to company officials, Wednesday. The expansion comes as LS Electric Chairman Koo Ja-kyun pushes to increase global market share. “LS Electric's sustainable growth must make clear that the limitations o...
US, UK expected to approve Korean Air's acquisition of Asiana Airlines
The U.S. and the U.K. are expected to approve the proposed operations under the Korean Air-Asiana Airlines acquisition deal as early as November, according to industry officials, Sunday. Korean Air expects that if approved by the U.S. and the U.K., it will have a positive effect on the European Union (EU), Japan and China competition authorities to follow suit.
Conglomerates enter emergency management, reduce investments
Major companies are taking a conservative approach as the economy is taking a rapid downturn, by shrinking investments and production to cope with the surging inflation, high exchange rates and interest rates, according to company officials, Sunday. Major domestic companies have entered emergency management amid the worsening economic situation. On Sept. 29, LG held an offlin...
KITA appoints Jeong Marn-ki as executive vice chairman
The Korea International Trade Association has appointed Jeong Marn-ki, chairman of the Korea Automobile Industry Association, as its vice chairman. “He is an expert who has deep understanding of the industry and is well-versed in trade policy,” KITA Chairman Koo Ja-yeol said.
Strengthen economic cooperation
Korea Enterprises Federation (KEF) Chairman Sohn Kyung-shik, right, speaks to Chinese Ambassador to Korea Xing Haiming during a meeting hosted by the KEF at the Westin Chosun Hotel in Seoul, Thursday. Since 2020, the KEF has invited the Chinese ambassador annually to discuss ways to strengthen economic cooperation between Korea and China. / Courtesy of the KEF
RDA helps boost global food security by sharing agricultural knowhow
The Rural Development Administration (RDA) hosted the “Korean Culture and Information Service (KOCIS) Policy Forum with the Administrator of RDA” at the Korea Press Center in Seoul, Wednesday, highlighting the RDA's official development assistance (ODA) in agricultural technology, future direction and its accomplishments.
Government urged to improve industrial regulations in line with international standards
The European Chamber of Commerce in Korea (ECCK) is calling on the Korean government to consider revising regulations on electric vehicles (EVs) and other industrial sectors to provide more procedural clarity and flexibility in line with international standards. The ECCK made the recommendations in its latest annual white paper, which contains a total of 96 comments on regula...