December 01, 2021

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EDITOR'S PICKS

• Markets 
  

  Race for EV charging stations intensifies for market dominance

  　Amid the global transition to electric vehicles, carmakers are moving fast to set up a charging infrastructure in Korea not only to increase their sales, but to gain dominance in a country where no clear market leader has yet surfaced. 　For automakers, building recharging points, which are still in the nascent stage here in terms of both numbers and maintenance, has become pivotal to overcoming electric vehicles’ general and biggest weakness -- a shorter driving range. 　According to go

• Markets 
  

  SK Inc.-SK Materials merger paves way for W5tr investment in battery, chip, display materials

  　A merger between SK Inc. and SK Materials has been completed to pave the way for a 5 trillion won ($4.2 billion) investment in key businesses including battery, chip and display materials, officials said on Nov. 30. 　“By 2025, SK Inc. will invest a total of 5.1 trillion won into four key sectors -- battery materials, power and compound semiconductors, semiconductor materials and displays,” a company official said. 　The core business SK Inc. will absorb from SK Materials is anodes

• Markets 
  

  Laos rises as hidden gem for developers

  　Laos is fast emerging as a land of opportunity for land developers, ahead of a highly anticipated launch of a new high-speed train connecting the Southeast Asian country with China next month. 　The Thatluang Lake Special Economic Zone, the only economic zone in the capital city of Vientiane, in particular, is expected to benefit, providing a boost for the local economy and luring foreign investors. 　Korean real estate investment firm D&C Mineun held a weeklong promotional seminar on Nov

• Markets 
  

  Celltrion signs COVID-19 treatment supply contract with 9 European countries

  　Celltrion Healthcare has inked supply contracts for its COVID-19 antibody treatment Regkirona with nine European countries as of Nov. 29, the company said on Nov. 30. 　Under the contract, Celltrion Healthcare, an affiliate of local biopharmaceutical company Celltrion, plans to roll out an initial supply of 150,000 vials of Regkirona to the countries before the end of the year. The amount is enough to treat 50,000 people. 　More supply orders of the antibody are expected to be placed in consi

• Markets 
  

  Dunamu to launch video chat metaverse platform

  　Dunamu, the operator of cryptocurrency exchange Upbit, said Nov. 30 that it had launched the beta version of its video chat metaverse platform, pushing the boundary between the real world and virtual reality. 　Metaverse refers to virtual communities that let users interact in real time. 　On 2ndblock, the metaverse platform, a video chat window automatically pops up when users’ avatars are close by, and users can see each other’s faces through webcams. They can also actively commun

• Markets 
  

  Shinhan completes review of stablecoin cross-border transfer technology

  　South Korea’s Shinhan Bank said on Nov. 30 that it has completed its review of its cross-border wiring and transfer technology for stablecoins, but remained cautious on its actual adoption. 　Stablecoins are a form of cryptocurrency designed to have a stable value tied to traditional government-backed currencies, or to a commodity such as gold, to dodge the volatilities of Bitcoin and other cryptocurrencies. 　“With the stablecoin transactions growing overseas, including JP Morgan&

• Markets 
  

  Sovereign fund head touts ESG, impact investment

  　ESG and impact investment will offer a new way for investors to make financial returns while leaving a positive, social and environmental impact, and South Korea hopes to spread the practice of “responsible investment,” Kore Investment Corp. CEO Jin Seoung-ho said Nov. 30. 　The chief of the country’s sovereign wealth fund said ESG investment, which looks at environmental, social and governance factors, and impact investment, which aims to make money and measureable social cha

• Markets 
  

  S. Korea to closely monitor omicron woes on financial market

  South Korea’s vice finance minister said Nov. 29 that the government plans to keep close tabs on the financial market for possible volatilities and woes caused by the emergence of the omicron variant of the COVID-19 virus. “There is a possibility that the volatilities in the global financial market could be expanded by the emergence of the omicron variant,” First Vice Finance Minister Lee Eog-won said at a macroeconomic meeting of government officials and the private sector.