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ICT Warbetween the U.S. and China? FOCUS MONEY INDUSTRY BATTERY LITIGATION DEPENDENCE ON OVERSEAS SALES DUE TO REDUCED PROFITABILITY LG Chem Sues SK Innovation for Infringing Overseas Sales Account for Two-thirds Petrochemical Companies Pushing for Secondary Battery Trade Secrets of Top 10 Corporations' Total Sales Business Diversification MAY 2019 / VOL. 32 NO. 391 www.businesskorea.co.kr Can Korea Be a Beneficiary from ICT War between the U.S. and China? 12,000 won 05 ISSN 1016-5304 Contents 2019 / Vol.32 No.391 FOCUS 08 LG Chem Sues SK Innovation for Infringing Secondary Battery Trade Secrets NATIONAL 10 China Overtaking South Korea in Growing Number of Industries 11 South Korea and China in Direct Competition in 37% of Their Export Items: KIET U.S.-China Tariff War Forecast to Reduce South Korea's Exports by US$1.36 Bil. 12 South Korea's Exports Fall Again in April South Korea’s Export Price Index Rises for Third Consecutive Month 13 AMCHAM Korea Delegation Asks U.S. Government Not to Apply Trade Expansion Act to Korea Diplomatic Conflict between S. Korea and Japan Leading to Economic Concerns 14 Korean Government Preparing for ILO Convention Ratification 15 S. Korea to Classify Gaming Addiction as a Disease 16 Culture Ministry Opposed to Classifying Game Addiction as a Disease 17 South Korea and Denmark to Cooperate More in Renewable Energy Industry South Korea and Denmark Conclud Reinsurance Agreement for Wind Power Projects 18 President Moon Rekindles Debate over Appropriate Sovereign Debt-to-GDP Ratio 19 South Korea at Bottom of GDP Growth Chart of 21 OECD Member Countries Ministry of Economy and Finance Arbitrarily Interprets OECD Economic Outlook 2019 INTERVIEW 20 Korea Forest Service to Host Global Forest Meetings in June COVER STORY 24 The U.S. Restricts Huawei's Access to ICT Technologies MONEY 30 South Korea's Forex Reserves Slightly Decrease in April Korean Won Losing Its Value Fast 20 31 Korean Won Shows Third Largest Drop in Value Among Emerging Countries 32 S. Korean Financial Companies Expanding Presence in Southeast Asian Countries 33 Foreign Ownership of Korean Bonds Reaches a New High 34 Korea's Financial Authorities Planning to Relax '5% Rule' 35 Short Selling Surges Before Block Deals, MSCI Korea Index Rebalancing 36 Samsung Electronics Pushing for Integration of Cryptocurrencies to Samsung Pay Foreign ownership of Samsung Electronics Reaches All-time High of 57.33% 37 Korean Insurers Having Difficulty in Expanding Business Overseas 38 Fintech Industry Growing Fast in South Korea S. Korea’s Top 10 KOSPI Firms’ Q1 Operating Profit Plunges 47% 31 39 Preference for Riskfree Assets Pushes up Bond Prices 40 FSC Chairman Says Rules on ‘Chinese Wall’ Will Be Eased 41 Overseas Sales Account for Two-thirds of Top 10 Corporations' Total Sales 42 S. Korea’s Asset Management Market Exceeds 2,000 Tril. Won 43 S. Korean Investors Increasingly Purchase Overseas Stocks Individual Investors Rushing to Overseas Futures ICT 44 Samsung Electronics to Apply Game-changing GAA Technology to 3-nm Process 45 Samsung Loses Top Spot in Chip Sales to Intel for 2 Consecutive Quarters 44 04 Samsung Electronics Working with FCA and Google for Connected Car Platform 65 Petrochemical Companies Pushing for 46 Samsung’s Big Push for Non-memory Business Ruffles a Few Feathers in Taiwanese Business Diversification Semiconductor Industry 66 Korean Government to Reduce 47 Semiconductor Wafer Producers Expand Production Despite Weaker Demand Biopharmaceutical Approval Period to 48 Samsung Electronics to Develop AI Applicable to System Semiconductors Half SK Hynix Develops 1 terabit quadruple level cell chip Telemedicine Not Included in Korean 49 Samsung Electronics Unveils Industry's Best Image Sensor Government’s Latest Package for Bio- 50 Semiconductor Equipment Shipments on the Increase Health Industry 51 LG Electronics Develops Its Own AI Chip for Home Appliances 67 Korean Biopharmaceutical Firms 52 Samsung Electro-Mechanics Develops Ultra-Slim Optical 5x Zoom Camera Module Betting on Blockbuster Cancer Samsung Electro-Mechanics Focusing on MLCCs for Vehicles Immunotherapies 53 YouTube Ranks First in Application Usage in All Ages 68 DTC Genetic Testing Gets a Big Boost Facebook Files Lawsuit Against Analytic Firm Rankwave for Data Misuse from Deregulation 54 Smartphone Makers Enter Patent Competition for Next Generation Displays 69 Korea’s Drug Ministry Cancels Kolon Patent Infringement Suit Filed Against Samsung Electronics' Galaxy Fold, Galaxy S10 5G Life Sciences' Invossa license 55 Samsung Electronics Successfully Demonstrates 8K TV Satellite Broadcasting in Europe Samsung Electronics Lowers Price of 98-Inch QLED 8K TV by 30% IR & MANAGEMENT 70 Lotte Chairman meets U.S. President INDUSTRY Trump at White House 56 United States Certifies Korean Nuclear Reactor Lotte Group’s Chemical Business Unit to Energy Storage System Suppliers on Edge of Precipice Invest 3.7 Tril. Won in Korea for 3 years 57 Korea’s Automobile Exports Fall 6% in April on Year 71 SK to Unify Its Oil Refining and 58 South Korea's Automobile Production Drops 0.6% in Q1 Chemicals Value Chains in China 59 U.S. to Exempt Korean Automobiles from Any Future Tariffs: Bloomberg SK Innovation Vows to Increase Electric 60 Hyundai and Kia Suffer 30% Drop in Sales in China in April Vehicle Battery Production 20-Fold by Hyundai Sports Sedan Genesis G70 Outrunning BMW and Mercedes Benz Models 2025 61 4 Major Korean Business Groups Begin a Race to Preempt E-mobility Market 72 Cho Won-tae Confirmed as Hanjin 62 South Korean EV Battery Manufacturers Excluded from Chinese Subsidies Yet Againat Group’s Next Chairman a Crossroads 63 Chinese Shipbuilders Outdo Korean Dockyards in Order Receipt SCIENCE & TECHNOLOGY 64 HMM’s Worsening Capital Erosion Puts KDB in a Dilemma 74 Korean Researchers Find Way to Produce Hydrogen and Graphene Using Egg Shell Looking for a house, apartment or office? Korean Research Team Develops More Effective Anticancer Treatment by Real Estate & Relocation Co, LTD. Enhancing NK Cell Function We look forward to helping you to find your next dream property anywhere in Seoul. 75 Korea and United States to Co-Develop Lunar Lander Payloads 1. Residential or Commercial Property Searching 3. After Service New Technology Reduces Thermal Power - Ability to explore and reserve a variety of properties - Moving arrangements and furniture set-up - Recommendations of suitable properties - Interior decoration and design Plants’ Fine Dust Emissions by 90% - Enrollment in fire, theft and other types of insurance 2. Contract 4. Support LIFESTYLE - Careful review of all related documents - Registration of residence at the local district office, etc - Negotiation of drafting terms and other conditions - School enrollment for children, etc 76 LG Household & Health Care Takes over - Closing lease agreement in contract - Assistance for opening a bank account, etc Avon’s Business in U.S. and Canada Amorepacific Group Beefs Up Partnership with Lazada Group 77 Beauty Blockchain Firm Cosmochain Attracts US$2.50 Mil. Investment from Head Office 02) 730-0001 www.rentcorea.com email. [email protected] U.S. Hedge Fund Corporate Headquarters : RentCorea B/D 1F~2F, #36-1, Seongbuk-dong, Seongbuk-ku, Seoul, Korea. Over 378,000 Foreign Patients Visit Registration No.209-06-83139. Permit No.9230000-1709. The President/Realtor. Kiwan, Sung. South Korea Last Year 05 Korea’s Most Influential Business Monthly Since 1983 TO OUR READERS Urgent Are Better Publisher: Park Jung-hwan Chief-in-Editor: Yu Kun-ha General Editor: Lee Kwang-soo South Korea-Japan Supplementary Editor: Lee Song-hoon Managing Editor: Youn Won-chang Culture/Tourism Editor: Choi Mun-hee Reporter: Cho Jin-young, Marie Kim, Jung Suk-yee, Jung Min-hee, Relations Michael Hurh, Sara Rai Contributing Writers: Seok Joon, Suh Bo-yun, Gho Chang-soo Designer: Jang Seung-eun International Liaison: Sara Rai Each of the bilateral relations between the Advertising Manager: Jung eui-jung Administration Manager: Jung Min-hee United States and China, between Japan and Circulation Manager: Lim Moon-joo China, and between the two Koreas is changing PUBLISHED BY : BusinessKorea Co., Ltd. : 301 Samdo Building, 12-1 Yeoido-dong, Yeongdeungpo-gu, Seoul, Korea 150-010 fast. The U.S.-Japan alliance has evolved fast under the Shinzo Abe adminis- Mailing Add.: 301 Samdo Building, 12-1 Yeoido-dong, Yeongdeungpo-gu, Seoul, Korea 150-010 tration, expanding its scope to the Indo-Pacific region. The bilateral relations Tel: (02)578-3220 Fax: (02)578-3224 Government Registration Number: RA-2743 Dated March 18, 1983. between Japan and China are improving, too. Printed by Hwashin Printing Tel: (02)2277-0624 On the other hand, the alliance between the United States and South Korea is not working well. After the Washington-Pyongyang summit in Hanoi failed Overseas Representatives Australia in February this year, the North showed no response at all to South Korean McLean Media Representations Pty., Ltd. P.O.Box 544, Newtown NSW 2042, Australia President Moon Jae-in’s proposal for summit talks while launching short- Tel: (612) 519-6455, Fax: (612) 577-1614 Belgium range ballistic missiles. Chinese President Xi Jinping also canceled his plan to Staf Wuyts, AD International Bld. Lambermont 140 B-1030 Brussels, Belgium visit Seoul next month, which the two governments had pushed with the G20 Tel: (02) 216-0730, Fax: (02) 216-4632 Canada Osaka summit nearing. Globe Media International 444 Front Street West, Toronto, Ontario, Canada M5V 2S9 In short, South Korea is in a dire diplomatic situation without crisis con- Tel: (416) 585-5415, Tlx: 06-219629, Fax: (416) 585-5275 Finland trol. With inter-Korean negotiations at an impasse and the trade war between Seppo Lehtinen, Seppo Lehtinen Oy Fredrikinkatu 33 B, 00120 Helsinki, Finland the United States and China posing significant concerns, the relations between Tel: (90) 611471, 647412, Tlx: 12-2814 sigco sf, Fax: (90)609114 Germany South Korea and Japan are getting worse and worse.
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