Mexico Rises as the New Manufacturing PowerhouseAs the Biden administration accelerates the decoupling from the Chinese supply chain, Mexico is rapidly emerging as a new global manufacturing hub to replace China. The manufacturing boom is happening in major cities in Mexico as foreign investments targeting the U.S. market continue, and the value of the Mexican peso is also on the rise. […]
China Welcomes Korean Companies' Investment Expansion: SK Group's CommitmentAccording to Xinhua News Agency, a Chinese state-run media, Chey Tae-won, chairman of SK Group, met with He Lifeng, Chinese Vice Premier He Lifeng, on the 29th and promised to continue investing in China. Chey, who also serves as chairman of the Korean Chamber of Commerce and Industry, met with He, who was considered to […]
Tesla Breaks Barrier in China: FSD Software Likely to Enter Market After Inspection ApprovalModel 3 and Model Y Produced at Shanghai Gigafactory Pass the InspectionTesla, the Only Foreign Company to Pass For the first time, Chinese authorities have granted Tesla a compliance certificate for data security, which is the first for a foreign company. This green light paves the way for the introduction of Tesla’s Full Self-Driving (FSD) […]
EU vs. Russia: Kremlin Stands Firm Against Sanctions on LNG TradeRussia has shown the will to overcome the sanctions imposed by the European Union (EU). The Kremlin in Russia announced on the 27th that it would find a way to overcome the illegal sanctions imposed by the EU on the liquefied natural gas (LNG) business. An EU official announced last Thursday that the EU Executive […]
Mercedes-Benz Cleared of Diesel Scandal by DOJMercedes-Benz Group AG has successfully shaken off allegations of diesel emission manipulation. The U.S. Department of Justice (DOJ) announced on the 27th that it had concluded its investigation into the Mercedes-Benz diesel emission scandal and found no further allegations. Renata Jungo Brüngger, a member of the board responsible for integrity, governance, and sustainability at Mercedes-Benz, […]
EU's Surprise for Xi Jinping: Raid on Chinese CompaniesA series of investigations into Chinese companies in Europe may deepen the conflict over subsidy disputes.Foreign companies are required to report subsidies received within three years for EU public tenders.The nine-month probe focuses solely on “Chinese,”indicating a potential escalation of the issue on the future agenda. According to Bloomberg and the South China Morning Post […]
Trump's Return Could Mean Tariff Troubles for South KoreaU.S. experts predict that if Donald Trump retakes the White House and enforces a strong tariff policy, South Korea, which revised the Free Trade Agreement (FTA) during the Trump administration, may not be an exception. Eric Altbach, a partner at the consulting firm Albright Stonebridge Group, said at a U.S. presidential election outlook seminar hosted […]
Bubble Tea Billionaires: China's Latest Wealth PhenomenonBloomberg reported on the 22nd (local time) that the popularity of bubble tea in China has consecutively created billionaires. According to the report, the stocks of Sichuan Baicha Baidao, the third-largest bubble tea chain in China (hereafter referred to as ChaPanda), are set to trade on the Hong Kong stock market starting from the 23rd. […]
China's Wind Turbine Exports Skyrocketed by 60.2% Despite Market ChallengesAs price competition in China intensifies, the focus is shifting towards exports. Last year, Chinese wind turbine exports saw a significant increase. The European Union (EU) has investigated subsidies for Chinese wind turbines following electric cars and solar power. Chinese companies are speeding up exports in response to intensified domestic market competition. On the 22nd, […]
US Housing Giant Dr. Horton Beats Estimates with Robust ProfitsAnalysts have reported that D.R. Horton (DHI), a company that builds homes and sells building materials in the U.S., ‘s quarterly results were better than expected. D.R. Horton’s second-quarter (January-March) sales were $9.11 billion, a 14.2% increase year over year, and its net income was $1.17 billion, a 24.4% increase. Earnings per share (EPS) were […]
Saudi Aramco's Top Boss Backs China in Energy Dumping ControversyThe world’s largest oil producer has stepped up to defend China against Western criticism that it dumps solar panels and electric vehicles at rock-bottom prices. According to the Financial Times (FT), Amin Nasser, CEO of Aramco, said at the World Energy Congress (WEC) held in Rotterdam, Netherlands, on the 22nd (local time), “China has greatly […]
North America Embraces Korean Rice: CJ's Bibigo Sticky Rice Sales SoarLast Year’s Cooked Sticky White Rice Sales Up 20.6% to 160 billion CJ CheilJedang’s Cooked Sticky White Rice is gaining significant popularity in North America. CJ CheilJedang announced on the 23rd that the sales of Cooked Sticky White Rice exported to North America last year increased by 20.6% compared to the same period of the […]
The Decline of South Korean ReadersAccording to recent findings, about six out of ten South Korean adults did not read even a single book last year. According to the 2023 National Reading Survey released by the Ministry of Culture, Sports and Tourism on the 18th, the comprehensive reading rate, which signifies the percentage of adults who read or listened to […]
Kim Jong Un's Push for Economic Self-Sufficiency: What You Need to KnowNorth Korea’s Chief Secretary Kim Jong Un attended a groundbreaking ceremony for a local industrial factory in Sungcheon County. (Photo=Rodong Sinmun-News1) North Korea is currently developing local industrial factories in 20 cities and counties. According to North Korean media, these factories, including essential food, daily necessities, and clothing, are being constructed to align with each […]
IMF Warns: 'U.S. and Chinese Fiscal Deficits Are a Grave Risk to the Global Economy'US fiscal deficit to hit 7.1% of GDP next year, triple the average for advanced economiesChina’s fiscal deficit to reach 7.6%, double the average of emerging countriesUS debt also affects inflation…high inflation-high interest rate vicious circle The International Monetary Fund (IMF) warned on the 17th (local time) that the massive fiscal deficit in the United […]
US, Japan, and South Korea Unite Against Economic ChallengesDuring the meeting, the finance ministers of South Korea, the US, and Japan gathered for the first time. They aimed to recognize the recent changes in economic and financial conditions, including the depreciation of the won and yen and China’s offensive on low-cost products. They also agreed to continue discussing issues discussed between the three […]
China Slashes U.S. Treasury Holdings: Set to Fall Behind UKAs China cuts its holdings of U.S. Treasuries, it is expected to drop to the third-largest holder of U.S. Treasuries after the United Kingdom. According to United News on the 18th, the U.S. Treasury Department reported on the 17th (local time) that as of the end of last February, the Chinese government’s holdings of U.S. […]
Surveillance Tech in North Korea on the RiseNorth Korea’s distribution of surveillance cameras is making it increasingly difficult for its citizens to evade the government’s watchful eye, according to recent reports. On the 16th (local time), the American think tank 38 North published a report assessing the strengthening of surveillance systems in North Korea. The report was based on interviews with defectors […]
Fed Chair Powell: No Plans for Interest Rate Cut Amid Strong EconomyJerome Powell, Chair of the U.S. Federal Reserve (Fed), has scuttled the market’s hopes for a cut in the benchmark interest rate. According to the Wall Street Journal (WSJ) on the 16th (local time), Powell said at an economic forum in Washington, D.C., “Recent indicators have not given us more confidence. Rather, it suggests that […]
SK Group Chairman Delivers on Investment Promise to President BidenChairman Chey Tae Won of SK Group emphasized that he kept his investment promise with U.S. President Joe Biden by establishing SK Hynix’s advanced packaging facilities. On the 17th, Chey posted on his LinkedIn, “SK Hynix announced on the 3rd that it will build an advanced packaging (post-processing) facility for HBM (High Bandwidth Memory) DRAM, […]
Mexico Rises as the New Manufacturing Powerhouse As the Biden administration accelerates the decoupling from the Chinese supply chain, Mexico is rapidly emerging as a new global manufacturing hub to replace China. The manufacturing boom is happening in major cities in Mexico as foreign investments targeting the U.S. market continue, and the value of the Mexican peso is also on the rise. […]
China Welcomes Korean Companies' Investment Expansion: SK Group's Commitment According to Xinhua News Agency, a Chinese state-run media, Chey Tae-won, chairman of SK Group, met with He Lifeng, Chinese Vice Premier He Lifeng, on the 29th and promised to continue investing in China. Chey, who also serves as chairman of the Korean Chamber of Commerce and Industry, met with He, who was considered to […]
Tesla Breaks Barrier in China: FSD Software Likely to Enter Market After Inspection Approval Model 3 and Model Y Produced at Shanghai Gigafactory Pass the InspectionTesla, the Only Foreign Company to Pass For the first time, Chinese authorities have granted Tesla a compliance certificate for data security, which is the first for a foreign company. This green light paves the way for the introduction of Tesla’s Full Self-Driving (FSD) […]
EU vs. Russia: Kremlin Stands Firm Against Sanctions on LNG Trade Russia has shown the will to overcome the sanctions imposed by the European Union (EU). The Kremlin in Russia announced on the 27th that it would find a way to overcome the illegal sanctions imposed by the EU on the liquefied natural gas (LNG) business. An EU official announced last Thursday that the EU Executive […]
Mercedes-Benz Cleared of Diesel Scandal by DOJ Mercedes-Benz Group AG has successfully shaken off allegations of diesel emission manipulation. The U.S. Department of Justice (DOJ) announced on the 27th that it had concluded its investigation into the Mercedes-Benz diesel emission scandal and found no further allegations. Renata Jungo Brüngger, a member of the board responsible for integrity, governance, and sustainability at Mercedes-Benz, […]
EU's Surprise for Xi Jinping: Raid on Chinese Companies A series of investigations into Chinese companies in Europe may deepen the conflict over subsidy disputes.Foreign companies are required to report subsidies received within three years for EU public tenders.The nine-month probe focuses solely on “Chinese,”indicating a potential escalation of the issue on the future agenda. According to Bloomberg and the South China Morning Post […]
Trump's Return Could Mean Tariff Troubles for South Korea U.S. experts predict that if Donald Trump retakes the White House and enforces a strong tariff policy, South Korea, which revised the Free Trade Agreement (FTA) during the Trump administration, may not be an exception. Eric Altbach, a partner at the consulting firm Albright Stonebridge Group, said at a U.S. presidential election outlook seminar hosted […]
Bubble Tea Billionaires: China's Latest Wealth Phenomenon Bloomberg reported on the 22nd (local time) that the popularity of bubble tea in China has consecutively created billionaires. According to the report, the stocks of Sichuan Baicha Baidao, the third-largest bubble tea chain in China (hereafter referred to as ChaPanda), are set to trade on the Hong Kong stock market starting from the 23rd. […]
China's Wind Turbine Exports Skyrocketed by 60.2% Despite Market Challenges As price competition in China intensifies, the focus is shifting towards exports. Last year, Chinese wind turbine exports saw a significant increase. The European Union (EU) has investigated subsidies for Chinese wind turbines following electric cars and solar power. Chinese companies are speeding up exports in response to intensified domestic market competition. On the 22nd, […]
US Housing Giant Dr. Horton Beats Estimates with Robust Profits Analysts have reported that D.R. Horton (DHI), a company that builds homes and sells building materials in the U.S., ‘s quarterly results were better than expected. D.R. Horton’s second-quarter (January-March) sales were $9.11 billion, a 14.2% increase year over year, and its net income was $1.17 billion, a 24.4% increase. Earnings per share (EPS) were […]
Saudi Aramco's Top Boss Backs China in Energy Dumping Controversy The world’s largest oil producer has stepped up to defend China against Western criticism that it dumps solar panels and electric vehicles at rock-bottom prices. According to the Financial Times (FT), Amin Nasser, CEO of Aramco, said at the World Energy Congress (WEC) held in Rotterdam, Netherlands, on the 22nd (local time), “China has greatly […]
North America Embraces Korean Rice: CJ's Bibigo Sticky Rice Sales Soar Last Year’s Cooked Sticky White Rice Sales Up 20.6% to 160 billion CJ CheilJedang’s Cooked Sticky White Rice is gaining significant popularity in North America. CJ CheilJedang announced on the 23rd that the sales of Cooked Sticky White Rice exported to North America last year increased by 20.6% compared to the same period of the […]
The Decline of South Korean Readers According to recent findings, about six out of ten South Korean adults did not read even a single book last year. According to the 2023 National Reading Survey released by the Ministry of Culture, Sports and Tourism on the 18th, the comprehensive reading rate, which signifies the percentage of adults who read or listened to […]
Kim Jong Un's Push for Economic Self-Sufficiency: What You Need to Know North Korea’s Chief Secretary Kim Jong Un attended a groundbreaking ceremony for a local industrial factory in Sungcheon County. (Photo=Rodong Sinmun-News1) North Korea is currently developing local industrial factories in 20 cities and counties. According to North Korean media, these factories, including essential food, daily necessities, and clothing, are being constructed to align with each […]
IMF Warns: 'U.S. and Chinese Fiscal Deficits Are a Grave Risk to the Global Economy' US fiscal deficit to hit 7.1% of GDP next year, triple the average for advanced economiesChina’s fiscal deficit to reach 7.6%, double the average of emerging countriesUS debt also affects inflation…high inflation-high interest rate vicious circle The International Monetary Fund (IMF) warned on the 17th (local time) that the massive fiscal deficit in the United […]
US, Japan, and South Korea Unite Against Economic Challenges During the meeting, the finance ministers of South Korea, the US, and Japan gathered for the first time. They aimed to recognize the recent changes in economic and financial conditions, including the depreciation of the won and yen and China’s offensive on low-cost products. They also agreed to continue discussing issues discussed between the three […]
China Slashes U.S. Treasury Holdings: Set to Fall Behind UK As China cuts its holdings of U.S. Treasuries, it is expected to drop to the third-largest holder of U.S. Treasuries after the United Kingdom. According to United News on the 18th, the U.S. Treasury Department reported on the 17th (local time) that as of the end of last February, the Chinese government’s holdings of U.S. […]
Surveillance Tech in North Korea on the Rise North Korea’s distribution of surveillance cameras is making it increasingly difficult for its citizens to evade the government’s watchful eye, according to recent reports. On the 16th (local time), the American think tank 38 North published a report assessing the strengthening of surveillance systems in North Korea. The report was based on interviews with defectors […]
Fed Chair Powell: No Plans for Interest Rate Cut Amid Strong Economy Jerome Powell, Chair of the U.S. Federal Reserve (Fed), has scuttled the market’s hopes for a cut in the benchmark interest rate. According to the Wall Street Journal (WSJ) on the 16th (local time), Powell said at an economic forum in Washington, D.C., “Recent indicators have not given us more confidence. Rather, it suggests that […]
SK Group Chairman Delivers on Investment Promise to President Biden Chairman Chey Tae Won of SK Group emphasized that he kept his investment promise with U.S. President Joe Biden by establishing SK Hynix’s advanced packaging facilities. On the 17th, Chey posted on his LinkedIn, “SK Hynix announced on the 3rd that it will build an advanced packaging (post-processing) facility for HBM (High Bandwidth Memory) DRAM, […]
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