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Sitting on a cockpit mockup, Chung was briefed with Samsung CEO Han Jong-hee on its future infotainment system. “It is not an exaggeration that Samsung has really completed the full package to make an EV with the Harman acquisition, but Harman’s R&D for new products is not showing the expected l...
LAS VEGAS -- Seeking control of its own destiny, Hyundai Motor is making efforts to be self-reliant in automotive chips, its US chief told reporters at CES 2022 on Thursday. “Definitely, as one of the big OEMs, we cannot be dependent on external factors to try to have control of your own destiny,...
LAS VEGAS -- Software development is no longer a priority for only IT companies, but also for carmakers. “The car industry itself is transitioning from being manufacturing-based to digital-based, meaning that software is becoming important than ever. Hyundai Mobis is trying to combine the mechani...
South Korea may be able to collect taxes from 70-80 global firms that have earned profits in Asia's fourth-largest economy under a new landmark global tax scheme, the country's finance minister has said. Finance Minister Hong Nam-ki made the remarks Saturday in Rome as the leaders of the Group of ...
Cryptocurrency exchanges that are based outside South Korea must register with the nation's anti-money laundering body if they use the Korean currency, a top financial regulator said Tuesday. Financial Services Commission Chairman Eun Sung-soo made the remarks when asked by a lawmaker whether Bina...
Korea Investment Corp., South Korea‘s sole sovereign wealth fund, pledged to increase its exposure to alternative assets to 21 percent by 2024, from 16.1 percent as of May 2021, its Chief Executive Officer Jin Seung-ho told reporters Thursday. The institutional investor, managing $183.1 billion i...
The company said in addition to the size and diversity in green bonds, it has also ramped up its efforts to prevent a ESG bond issuer’s misuse of green bonds to ‘greenwash’ its image. Hyundai Capital said it has set up a Sustainability Financing Framework, which has been certified by DNV-GL, a g...
Per capita income in South Korea declined for the second year running in 2020, as the COVID-19 pandemic dragged the economy down to its lowest point since the 1997-1998 Asian financial crisis, data showed June 9. Per capita annual income, as measured in US dollars, shrank last year to $31,881, dow...
Some 2,800 people suspected of having purchased land for speculation purposes, including some high-profile government officials, have come under investigation since the government launched a joint probe in March to root out illicit activities in the real estate market. Many now face criminal charg...
South Korea’s central bank should raise its benchmark interest rate in the second half of the year, given the faster-than-expected pace of the economic recovery, a think tank here said. “If the Bank of Korea decides to carry out a belated rate hike, then the economy could see a bigger shock st...
Hyundai Card has decided it would not acquire the credit card business unit of Citibank Korea, which has been up for sale following its parent company’s reorganization plans in Asia, the company said May 27. ”We have initially reviewed the case but concluded not to proceed acquisition (of Cit...
South Korea’s top financial regulator said Thursday that it will host a special session ahead of the upcoming P4G Seoul Summit to discuss the finance industry’s role in the global fight against climate change. The event, “Role of Finance in Post COVID-19 Green Recovery,” will be convened vir...
Leveraged cryptocurrency trading by individuals in South Korea threatens the nation’s financial system, Bank of Korea Gov. Lee Ju-yeol said on May 27. Given the price volatility of virtual assets, increased trading in such assets leaves Korea’s financial system subject to instability, Lee said...
Finance Minister Hong Nam-ki said on May 20 that the government will roll out changes to housing policies which may include real estate taxation reforms as early as next month. While maintaining the key framework and the stance of the real estate policy announced on Feb. 4, which focuses on easi...
The South Korean government will support the development and commercialization of clean energy technologies and set up a climate response fund next year to achieve the goal of going carbon neutral by 2050. Finance Minister Hong Nam-ki said Monday that preparation for the scenario to achieve net ...
Manufacturing, retail giants unload 5-year plan to spur future growth
SK to spend W247tr on chips, battery, biopharma over next five years
LG to spend W106tr on battery, biotech, AI
BOK raises its interest rate to 1.75% to curb inflation
Korbit delists luna, vows customer protection
S. Korea becomes world’s 10th largest luxury market: report
5 local airports to resume operating 22 international routes in June
Samsung SDI, Stellantis to build $2.5b battery plant in Indiana