Gyeong-Jin Min

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Heavy inheritance, gift taxes spur rich Koreans to emigrate to Singapore

Oct 22, 2024 | kedglobal.com | Gyeong-Jin Min |Lan Heo |Ji-hye Min |Seo-woo Jang

A South Korean co-CEO of a blockchain investment firm with hundreds of millions of dollars in assets moved to Singapore last year to avoid the Northeast Asian country’s heavy inheritance and gift taxes. The cases of South Korean emigrants with assets of 100 billion won ($72.4 million) from Asia’s fourth-largest economy to the city-state were estimated to hit a record high last year, indicating Seoul’s high inheritance and gift taxes may have accelerated the exodus of the local rich, lawyers said.
Korea’s top landscaping firm Dawon to expand in SE Asia

Aug 15, 2024 | kedglobal.com | Hyung-Chang Choi |Gyeong-Jin Min

South Korea’s Dawon Landscape & Construction Co. aims to expand its business in Southeast Asia as it beat out major domestic builders such as Samsung C&T Corp. in this year's evaluation by construction and specialty contractor associations.
S.Korean supreme court reaffirms $800 mn fine against Qualcomm

Apr 13, 2023 | kedglobal.com | Gyeong-Jin Min |Jin-Seong Kim |Sul-gi Lee

South Korea‚Äôs Supreme Court on Thursday reaffirmed the country‚Äôs largest-ever penalty of 1.03 trillion won ($800 million) imposed on Qualcomm Inc. over its unfair business practices against chipset and handset makers. The highest court ended a six-year legal fight between South Korea‚Äôs Fair Trade Commission (FTC) and Qualcomm, rejecting the US wireless technology giant‚Äôs appeal against the penalty levied in 2016.
KoreaтАЩs Micro Digital to supply bioreactors to major US firm

Mar 20, 2023 | kedglobal.com | Gyeong-Jin Min

Micro Digital Co., South KoreaтАЩs only bioreactor maker, is set to ink a supply deal with a major US biopharmaceutical producer to expand its global business. тАЬWe will sign a formal contract to supply bioreactors to a company in North America as early as the first half,тАЭ Micro Digital CEO Kim Kyungnam told The Korea Economic Daily on Monday, declining to provide details such as the name of the buyer.
Korea's Daedong to speed up growth on smart farming machines

Feb 16, 2023 | kedglobal.com | Gyeong-Jin Min

Daedong Corp., South KoreaтАЩs top agricultural machinery manufacturer, aims to accelerate growth based on new businesses such as smart machines, farms and future mobility, after enjoying healthy earnings last year thanks to strong tractor sales in North America. Daedong said on Thursday it plans to concentrate on qualitative and quantitative development in its core smart farming machinery business, to extend overall growth.
SGC Solutions expands overseas sales channels for its brand Glasslock - KED Global

Jan 31, 2023 | kedglobal.com | Gyeong-Jin Min

South Korea's glassware maker SGC Solutions said Tuesday that it has signed a memorandum of understanding (MOU) with the Korea Small & Medium Business Export Association to support and facilitate global exports. The accord was signed to further expand and promote overseas sales of SGC Solutions' brands such as Glasslock Baby and Boena, in addition to its flagship glass container brand "Glasslock," by taking advantage of the association's global network.
Korean tractor exports hit record high of $1.3 bn in 2022

Jan 25, 2023 | kedglobal.com | Gyeong-Jin Min

South Korean tractor exports hit a new record high for the second consecutive year in 2022, according to Korea Customs Service on Jan. 24. Korea's leading agriculture equipment makers such as Daedong Corp. and TYM Corp. are ramping up their manufacturing capacity to expand sales, targeting North America. The yearly exports of Korean tractors logged $847 million in 2015 and have fallen to $500 million-$600 million since then.