IMF raises 2021 growth projection for S. Korea from 3.1% to 3.6%
Mar 26, 2021 02:58 am UTC| Economy
The International Monetary Fund (IMF) raised its growth forecast for South Korea from its estimate in January of 3.1 percent to 3.6 percent, citing robust exports and the countrys fiscal policy support. The revision was...
Intel to challenge Samsung, TSMC in chipmaking, foundry biz
Mar 25, 2021 23:42 pm UTC| Economy
Intel Corp. is challenging foundry sector leaders Taiwan Semiconductor Manufacturing Co. (TSMC) and Samsung Electronics Co. with plans of significantly expanding its advanced chip manufacturing capacity and jumping into...
S. Korean regulator fines 4 auto parts makers 82 billion won over price collusion
Mar 25, 2021 01:33 am UTC| Economy
The Korea Fair Trade Commission (KFTC) fined four auto parts producers a combined 82.4 billion won for colluding to fix bidding prices of vehicle parts in 99 rounds of bidding by Hyundai Motor Co. and its affiliate Kia...
S. Korea loses spot as 2nd largest chip materials market to China
Mar 23, 2021 23:24 pm UTC| Economy
South Koreas revenue for chip materials grew 3.9 percent on-year to US$9.23 billion in 2020, but it was not enough to retain its spot as the second-largest market for semiconductor materials, losing to China whose posted...
S. Korea's intellectual property trade deficit widens in 2020
Mar 23, 2021 23:12 pm UTC| Economy
South Koreas intellectual property rights deficit widened in 2020 to $1.87 billion from $530 million in 2019, as patent payments by firms increased, according to data from the Bank of Korea (BOK). The countrys exported...
US whiskey makers pursue immediate suspension of EU tariffs
Mar 22, 2021 23:52 pm UTC| Economy
The Distilled Spirits Council of the United States urged top US trade envoy Katherine Tai to pursue an immediate suspension of the European tariffs and to secure agreements removing them. The council emphasized that the...
Oil: why higher prices will complicate the energy transition
Mar 22, 2021 13:34 pm UTC| Economy
The oil price is on a rollercoaster. Having crashed into negative territory just last April, the price of Brent crude climbed all the way to US$70 (50) earlier in March. It has since slid below US$64. So where is it...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects