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Friday, March 29, 2024

BUSINESS

Posco Int’l inks oil and gas contract with Indonesia

Posco International and Indonesia’s state-run Pertamina Hulu Energi (PHE) signed a production-sharing agreement with the Indonesian government for an offshore oil and gas field...

IMF trims Korea’s 2023 growth forecast to 1.4 percent

International Monetary Fund lowered Korea’s growth outlook by 0.1 percent to 1.4 percent for this year in its latest forecast released Tuesday despite an...

Watchdog issues warnings to Chinese banks in Korea

The financial watchdog warned Chinese banks operating in Korea over their violation of duty in reporting corporate information. The Financial Supervisory Service (FSS) informed the...

Netflix’s password sharing crackdown to hit Korea

Netflix’s crackdown on password sharing is making its way toward Korea, with a growth in both revenue and subscriber numbers that the streaming giant...

Korean orders accelerate for Tesla’s low-price Model Y

Tesla’s unconventional low-price strategy seems working in Korea so far, with surging orders of the latest Shanghai-made Model Y. Over 20,000 orders have been made...

Naver joins global AI race with expanded range of services

Naver will unveil its hyperscale artificial intelligence (AI) service HyperClova X next month alongside a line of further affiliated services within this year, joining...

U.S. road renamed ‘SK Boulevard’ in dedication of SK On

After driving some 70 miles east of Atlanta, the capital city of Georgia, a road named SK Boulevard comes into view. The road, near SK...

Hyundai reveals technology for ‘self-healing’ cars of the future

Got a small scratch on your car bumper? Do not worry, it would have fixed itself in less than two hours. Forgot to charge your...

Korea sets 2024 minimum hourly wage at 9,860 won

Korea raised the minimum hourly wage for 2024 by 2.5 percent to 9,860 won ($7.8) amid weak economic growth. The Minimum Wage Commission made the...

Commercial vehicles lead Chinese automakers’ Korean invasion

Slowly but surely, China is expanding its presence in the Korean auto market with its competitively priced commercial electric vehicles. One third of new commercial...