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1 charge = 528 km drive? Korea slaps Tesla with fine for misleading advertising A South Korean regulatory body has fined Tesla 2.8 billion won (US$2.2 million) for exaggerating the performance of its cars.It was also fined 1 million won for violating the Electronic Commerce Act b Wed, 04 Jan 2023 17:25:58 GMT
Samsung moves into robotics sector with 56.9B won investment in Korean maker Samsung Electronics is investing 58.9 billion won (US$46.3 million) into the KOSDAQ-listed robotics startup Rainbow Robotics.Rainbow Robotics’ stock price responded to the news by skyrocketing to near Wed, 04 Jan 2023 17:22:22 GMT
S. Korea’s exports to China drop as US-bound exports climb With South Korea recording its greatest ever trade deficit last year, exports to China fell by over 4% from the previous year, with China-bound exports accounting for less than 25% of total exports.Ex Tue, 03 Jan 2023 16:42:51 GMT
S. Korea’s financial stress index upgraded to crisis level Korea’s financial stress index (FSI), which shows the state of the short-term vulnerabilities in the domestic financial system, has entered the crisis stage.The situation has taken a sharp turn for th Fri, 23 Dec 2022 17:44:24 GMT
Ahead of presidential pardons, Korea’s chaebols curry favor with major investment pledges Certain of Korea’s chaebol businesses have been hard at work ahead of the special presidential pardons planned for the New Year, hoping for pardons and reinstatement for their leaders with criminal hi Wed, 21 Dec 2022 17:09:26 GMT
S. Korean factories go idle amid cold winter for domestic production The smokestacks of major Korean corporations are cooling as predictions of an economic downturn become a reality. In the country’s major industries of smartphones, home electronics and petrochemicals, Tue, 20 Dec 2022 17:17:20 GMT
Economic cold snap forecast to hit Korea by early 2023 amid freeze in consumption “We have more work to do.”These were the words of US Federal Reserve Chair Jerome Powell following a decision last Thursday to further raise the policy interest rate.The move dashed market hopes that Mon, 19 Dec 2022 17:14:33 GMT
Hanwha’s takeover of Daewoo shipbuilding: Next step on road to becoming global defense firm? The Hanwha Group is now the owner of Daewoo Shipbuilding &amp; Marine Engineering (DSME) after participating in a rights offering worth 2 trillion won (US$1.5 billion) on Friday.Hanwha is taking the f Mon, 19 Dec 2022 17:00:13 GMT
Top executives of Samsung, BMW talk strengthening EV battery cooperation Samsung Electronics announced Sunday that its chairperson had met with BMW’s top executive to discuss ideas including cooperation on electric vehicle (EV) batteries.According to the company, Lee Jae-y Mon, 19 Dec 2022 16:55:25 GMT
Korea poised to hit $50B trade deficit, more than doubling record With Korea certain to post its first trade deficit in 14 years this year, the annual trade deficit may surpass its record high and hit US$50 billion for the first time ever.According to trade balance Wed, 14 Dec 2022 15:54:20 GMT
Income gap between richest, poorest 10% of Koreans widens to 21-fold How much money does a household ranked in the top 10% for income in South Korea make in a year?The answer last year was an average of 190,420,000 won (US$146,000). Members of this bracket had average Wed, 14 Dec 2022 15:35:58 GMT
Korean battery sector tense after Chinese firm slips by IRA and heads to US The decision by a China-based battery company to invest large amounts in the US while the US has been trying to exclude China from the electric vehicle (EV) supply chain through its Inflation Reductio Thu, 08 Dec 2022 17:25:36 GMT
Court orders SK’s chief Chey to pay out 66.5B won to wife Roh in divorce A court on Tuesday approved the divorce of SK Group Chairman Chey Tae-won and Roh So-young, the director of Art Center Nabi.The ruling comes seven years after Chey initially expressed his desire for a Wed, 07 Dec 2022 17:18:36 GMT
Korea sees historic wealth gap, worst income inequality figures in years The wealth inequality in Korea has reached its highest level ever. The income gap between low- and high-income groups has also taken a turn for the worse for the first time in five years.Debt held by Fri, 02 Dec 2022 17:27:22 GMT
Korea to see shrinking auto sales, exports, production in 2023 despite uptick in global demand Global automobile demand is expected to rise next year, but South Korean automobile production will fall amid the effects of factors including the US’ Inflation Reduction Act (IRA), analysts are predi Tue, 22 Nov 2022 17:29:16 GMT

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