BDO-PTMEG-Spandex Global Industry 2018 Sales, Supply, Size, and Consumption Forecasts to 2023

The main opposition People Power Party (PPP) on Tuesday called on President Lee Jae Myung to veto a recently passed bill on a special counsel investigation into alleged fabricated indictments targeting Lee and others. The PPP made the appeal as they held a general meeting of its lawmakers outside the presidential office, slamming the bill as a measure aimed at canceling all indictments against Lee. "The special counsel bill marks the final step in a project to free Lee Jae Myung from prison," PPP leader Jang Dong-hyeok said. "It is a jailbreak bill designed to get Lee, who should be behind bars, out of jail." The legislation calls for appointing an independent counsel to investigate suspicions the prosecution under former President Yoon Suk Yeol fabricated evidence or induced false testimonies to build cases against then opposition leader Lee and others. "We must resume all trials and make Lee face the judiciary's judgment before his crimes are wiped away," Jang added. Rep. Jeong Jeom-sig, the party's floor leader, also warned, "The project to free Lee from prison will only lead to an ear

President Lee Jae Myung said Tuesday that Korea will continue to closely cooperate with the U.S. administration following the recent U.S. midterm elections, while also seeking to expand bipartisan support in Congress for issues related to the country and the alliance. Lee made the remarks at a Cabinet meeting after the opposition Democratic Party in the United States won control of both the Senate and the House of Representatives in last week's midterm elections. "After the U.S. midterm elections, many changes are expected to take place in the external environment," the Korean president said, instructing officials to prepare thoroughly for any possible changes. "Utmost attention should be paid to minimizing negative effects from external uncertainties on the domestic economy." "More important than anything would be strengthening and expanding the foundation for cooperation and trust between the two countries from the mutually beneficial perspective," Lee added, calling for efforts to ensure the implementation of bilateral diplomatic and security agreements. The president, in particular,

A joint research team at Sogang University has developed a new strategy for designing optical materials that enable efficient wavelength conversion by effectively arranging three different optically active components within a single crystal. The university said Monday that the findings were published last month in the Journal of the American Chemical Society, an internationally renowned chemistry journal. The research team was led by Ok Kang-min, a professor in the Department of Chemistry, and Jang Joon-ik, a professor in the Department of Physics. Zeng Wei, a postdoctoral researcher in the Department of Chemistry, served as the study’s first author, while Ok and Jang were co-corresponding authors. Nonlinear optical materials enable the conversion of laser light into light of different wavelengths. They are used in a wide range of applications, including high-performance lasers, precision optical measurements, optical communications and advanced photonic technologies. However, achieving superior optical performance requires more than simply combining components that respond strongly to

A small military drone operated by an Army unit crashed in a park in Gimpo, just west of Seoul, on Tuesday morning, with an investigation under way to determine the exact cause, the Army said. No civilian damage was reported. The unmanned vehicle hit the ground following a suspected communication failure during training and was later retrieved, the Army said in a notice to media. "No casualties or civilian damage have been reported, other than the damage to the aircraft itself," Army spokesperson Capt. Bae Seok-jin said in a press briefing. "The military is currently investigating the exact circumstances and cause of the incident." Bae dismissed speculation connecting the crash to North Korea, saying it occurred during training. Gimpo city officials earlier said military authorities were examining the object to determine whether it may be linked to North Korea.

Chungnam National University held an anti-corruption and integrity pledge ceremony at its Daejeon campus on Friday. University President Kim Jeong-kyoum and more than 100 faculty and staff members attended the event, according to the university. It was organized to raise awareness of integrity among university members and promote a fair and transparent organizational culture. At the ceremony, participating faculty and staff members pledged to abide by laws and principles, carry out their duties with integrity, put the public interest first, prevent corruption and strengthen public trust. They also pledged to take the lead in promoting a culture of integrity in public service. “Integrity is an important value that all university members should uphold in their daily work and everyday lives,” Kim said. “I hope everyone will continue to work together to build a transparent and fair Chungnam National University that earns the trust of its members and the local community through open and accountable administration.” Following the pledge ceremony, faculty and staff members took part in a h

LG Innotek said Tuesday that its next-generation automotive lighting module, Nexlide C+, has won a CES 2027 Innovation Award, marking the third consecutive year that its Nexlide series has received the recognition. Nexlide is LG Innotek's flexible automotive lighting brand which uses the company’s own optical design, light distribution technologies and advanced materials to enable various lighting designs in a thinner profile. LG Innotek holds more than 700 patents related to surface lighting technology. Nexlide C+ won the recognition with its capability to display two or more three-dimensional images through a single lighting module. For example, the same module can show diagonal patterns when viewed from the left and vertical patterns when viewed from the right, creating different visual effects depending on the viewing angle. The technology can be used in various parts of a vehicle, including taillights, front grille lighting and interior ambient lighting. Nexlide C+ is also less than 3 millimeters thick, allowing it to fit into narrow spaces inside vehicles. LG Innotek said it is t

Shinsegae, the operator of Korea's major department store chain, on Tuesday reported its third-quarter net profit of 119 billion won ($88.5 million), a 146.4 percent jump from a year earlier. The retailer said in a regulatory filing that operating profit for the July-September period increased 64.7 percent on-year to 164.3 billion won. Revenue also inched up 1.2 percent to 1.65 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 84.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Genesis is stepping up competition in the full-size luxury SUV market with the full-electric GV90, taking aim at German rivals — BMW and Mercedes-Benz — as it seeks to carve out a bigger share of the lucrative high-end segment. The brand unveiled on Tuesday pricing for the GV90, its first full-size flagship SUV, starting at 139.5 million won ($103,000) in Korea. This places the vehicle in a similar price range to the BMW X7 and Mercedes-Benz GLS, positioning Genesis to compete directly for buyers who have traditionally favored German luxury SUVs. The launch represents a significant test for Genesis, which has spent years building its reputation as a premium brand, but has yet to establish the same level of recognition as BMW and Mercedes-Benz in the upper reaches of the luxury market. The GV90 sets itself apart from its rivals with an all-electric powertrain, along with a focus on rear-seat comfort and advanced technology. It uses a 123.5-kilowatt-hour battery, the largest among Hyundai Motor Group's electric vehicles (EVs), and can travel up to 500 kilometers on a single charge. The

Samsung Electronics and LG Electronics are expected to face growing pressure on their TV businesses, as rising prices of Chinese-made LCD panels drive up production costs, particularly for low- and mid-range TVs. According to market tracker Omdia, the cash cost of a 65-inch LCD TV open cell is projected to rise from $112 in 2025 to $116.80 this year and $124.55 in 2027, as higher component and material prices increase manufacturing costs. An open cell refers to an LCD panel before the backlight and other components are assembled into a complete display module. Omdia noted that three Chinese panel makers — CSOT, HKC and BOE — sent official letters to their clients outlining plans to raise prices for some panels starting in September or the fourth quarter. According to another market tracker, TrendForce, LCD panel prices have remained flat, with 55-inch and 65-inch panels holding steady at $123 and $173, respectively, in October and November. However, Omdia expects LCD TV panel makers to successfully raise prices in December as “rising costs approach a tipping point.” LG Electronic

The International Women's Forum Korea (IWF Korea) held one-on-one mentoring sessions for local startups in North Jeolla Province on Saturday to help them evaluate their business strategies and prepare for overseas expansion. IWF Korea said Tuesday that it hosted the "Local Startup Value-Up: Local to Global" mentoring program in Jeonju, North Jeolla Province. The program was organized as part of the 2026 J-Startup Festa and held in conjunction with the 11th Startup Jeonbuk Entrepreneurship Expo in Jeonju's Hanok Village. It was jointly sponsored by the Ministry of SMEs and Startups, North Jeolla Province and the city of Jeonju, with the Jeonbuk Center for Creative Economy and Innovation, the Jeonbuk Business Agency, investment firm Krypton and IWF Korea participating in its organization. The initiative aimed to help local startups leverage regional assets and brands, strengthen their competitiveness as they grow and expand into overseas markets. “Startups based in regional communities can pursue growth with global markets in mind from the very beginning," said Kim Ji-won, organizing co

Samsung Electronics said Tuesday it has supported 1,000 startups, helping attract a cumulative 2.2 trillion won ($1.6 billion) in investment. Notably, the Korean tech giant selects promising entrepreneurs and startups for its C-Lab initiative, choosing 30 companies this year, the company said. Of the selected startups, 15 are currently conducting technology verification projects with Samsung Electronics, with the company seeking to identify further opportunities for business collaborations. Twelve of the startups are based outside the Seoul metropolitan area, Samsung said. Samsung has operated regional C-Lab hubs in the central city of Daegu and the southwestern city of Gwangju since 2023 to foster regional economic development. At an event held Tuesday at its R&D center in southern Seoul, representatives from six startups took the stage to share their growth stories and examples of business collaboration. One of the startups was Config Intelligence, a two-year-old startup, is developing data technologies to train and deploy artificial intelligence (AI) systems for robots. The company has a

Hanwha Aerospace said Tuesday it has become the first company in Korea to win type approval for a marine hydrogen fuel cell from the Korean Register, the country’s ship classification society. The company said this is only the fifth time worldwide that a classification society has granted type approval to a hydrogen fuel cell for ships. Classification societies are independent bodies that set and enforce technical standards for how ships are built and operated. Type approval certifies that a product meets international maritime standards and the society’s own rules. Without it, a hydrogen fuel cell cannot be installed on ships or on offshore structures such as drilling vessels. To receive approval, the manufacturer must prove both performance and safety in harsh sea conditions. Hanwha Aerospace said its system passed marine environment tests for conditions such as vibration and tilting. It also passed the Korean Register’s review of its manufacturing process and quality control system. Hydrogen fuel cells make electricity from a reaction between hydrogen and oxygen, and their only