December 04, 2021

• 
• 
• 

EDITOR'S PICKS

• Markets 
  

  SK Group retains CEOs, delays decision on chairman’s brother

  　SK Group, the nation’s third-largest conglomerate, seems to be opting for  stability rather than drastic changes in its year-end executive reshuffle, retaining all the CEOs at its key affiliates. 　While maintaining the top brass, 133 new executives are receiving promotions, the largest class in the past three years, in an apparent move to add weight to its new growth engine businesses that are still in their nascent phases with the potential to lead the group’s future. 　&ld

• Markets 
  

  [Herald Interview] Do you have a best friend at the office? Human connection crucial for work efficiency, says behavioral scientist

  　After COVID-19 forced many aspects of our lives to become more isolated, the world is making a gradual move to return to how we used to be. Commuting to work has resumed and team lunches have been revived, although people still wear their masks and transparent acrylic panels have been erected between people at the tables. 　Although South Korea kicked off its “living with COVID-19” scheme with eased social distancing rules on Nov. 1, still today many are suffering from social isola

• Markets 
  

  #2nd urea crisis? Four metals China can weaponize against EV battery firms

  　The ongoing urea solution shortage in South Korea is just the trailer. The real movie hasn’t even started yet. 　China can always send another wave of supply chain crises to Korea, and next time, the electric vehicle battery industry could be the target. 　According to Hana Financial Investment Thursday, electric vehicle batteries manufactured in South Korea by LG Energy Solution, Samsung SDI and SK On are heavily dependent on Chinese metals. 　“The three companies source 71 perc

• Markets 
  

  Drug Ministry cancels approval of 6 botulinum products

  　The licenses of six botulinum drugs will be revoked on Dec. 13, the Ministry of Food and Drug Safety announced Nov. 2. 　The Drug Ministry said the drugs were being sold in the country without obtaining the state approval to sell them in the domestic market. 　The drugs are four of Hugel’s Botulax units and two of Pharma Research Bio’s ReNTox units. 　The Drug Ministry will also shut down Pharma Research Bio’s production for six months, citing that the biopharmaceutical fir

• Markets 
  

  Posco Chemical enters US EV battery market via GM joint venture

  　Posco Chemical and General Motors will form a joint venture and build a factory in North America to locally produce key electric vehicle materials, the two companies announced on Nov. 2. 　Once completed in 2024, the new facility will produce and supply cathodes to Ultium Cells, a joint venture between GM and LG Energy Solution, which is building two EV factories in Ohio and Tennessee. Though size and location remain unclear, this is Posco Chemical’s first expansion to the US. 　Cathodes

• Markets 
  

  Korea to foster 89,000 more software talents by 2025

  　South Korea will foster 89,000 more people specialized in software technology by 2025 to cope with a shortage of digital talent in the future, the Ministry of Science and ICT said on Nov. 2. 　Unveiling the government’s plan to support younger generations in times of digital transformation, the ministry said a total of 413,000 software professionals will be supplied over the next five years. The government’s original plan was to raise 324,000 software talents, but the expected dema

• Markets 
  

  Incheon Airport’s debt ratio nears 70% over plunging travel demand

  　Incheon Airport on Nov. 2 forecast its debt ratio to spike to nearly 70 percent this year due to a plunge in flight operations and travelers amid the COVID-19 pandemic. 　The airport operator said in a press conference that flight operations are likely to have dropped 19 percent from last year, and travelers by 70 percent on-year. 　The downturn has hurt revenue, as the airport’s sales stood at 490.5 billion won ($416 million), a 55 percent drop from last year. 　The airport sought to res

• Markets 
  

  ’Political blessing’ needed to launch EARC

  　 The biggest obstacles in implementing the East Asia Railway Community are stalled inter-Korean relations and geopolitical confrontation between China and the US, a former presidential adviser told a Transport Ministry forum on Nov 2. 　“The EARC is needed to overcome the continental-maritime divide along the Korean Peninsula, which is the old relic of the Cold War system, to open a new horizon of prosperity by tapping into the northern frontier to facilitate functional spillover effects