KT announced its vision to transform into an AICT company, combining its telecommunications capabilities with IT and AI, at MWC 2024, marking the start of its full-fledged leap into becoming a leading enterprise in global AI and ICT.At the recently concluded MWC 2024, KT received high praise for sho
Samsung Electronics and Naver have unveiled their jointly developed artificial intelligence (AI) semiconductor, which has been in development over the past year. Known for its power efficiency being approximately eight times greater than chips from competitors like Nvidia, this product is expected t
KT is set to enhance the performance of its mega-scale AI ‘Mi:dm’ in collaboration with the Vector Institute of Canada, one of the world’s premier AI research institutions.On Sept. 5, KT revealed that it had discussed collaboration in the mega-scale AI domain with the Vector Institute at the KT Inst
On July 28, Doosan Enerbility completed a continuous 240-hour operational test of its first domestically produced gas turbine engine with 270 MW output and initiated commercial operation at the Gimpo Combined Heat and Power Plant operated by Korea Western Power (KOWEPO). Through this achievement, KO
Samsung C&T will promote a large-scale modular (prefabricated) house construction project in Neom City or Riyadh in Saudi Arabia through joint investment with the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia.Minister of Land, Infrastructure and Transport Won Hee-ryong sign
Major Korean companies are ramping up their investments in Indonesia, which they regard as a base for advancing into Southeast Asia. Korean companies' investments are made in diverse sectors, including electric vehicles, batteries, petrochemicals, and biotechnology. The Indonesian government is
The Incheon Free Economic Zone (IFEZ) is the first-ever free economic zone in Korea. Since its inception in 2003, it has been serving as an excellent role model for free ecnomic zones (FEZs) in Korea and other countries. Last year, it accounted for more than 80 percent of foreign direct investment p
South Korea's first casino and hotel complex Paradise City opened its doors in Yeongjongdo, west of Seoul, on April 20.“Paradise City was the best challenge suited for Paradise Group, a first mover in the tourism industry in Korea,” Paradise Group Chairman Chun Phil-lip said at a media briefing on t
Samsung SDI’s solar cell energy business has flopped. The company acquired the business from Samsung Electronics for 161.3 billion won (US$159.8 million) back in July 2011. But the electric parts manufacturer is known to be suffering from such poor solar cell performance that it won't unveil specifi
Hyundai Engineering & Construction (Hyundai E&C) won a plant construction project worth approximately 5 trillion won (US$4.8 billion) in Venezuela. The total value of orders received by Korean builders during the first half of this year reached a record high of US$37.5 billion with the project, incr
For closer and faster cooperation with the International Thermonuclear Experimental Reactor (ITER), KEPCO Engineering & Construction Company (KEPCO E&C) opened a representative office in France.On June 6, about 20 guests including the CEO of KEPCO E&C Park koo-woun, Secretary General of ITER Osamu M
President Park Geun-hye met with Sheikh Mohammed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, on May 20 and promised to work more closely together in the field of nuclear power generation. She also asked for greater participation of Korean companies in mega-scale projects for the construction
The popularity of Korean builders is on the rise worldwide thanks to their high technological strength and reliability. “GS Engineering & Construction’s residue fluid catalytic cracking technology is second to none in the world, and I would like to keep partnering with GS E&C for our future projects
The Korean government is moving swiftly to sign more FTAs within the first half of this year. In particular, it is focusing on the conclusion of the Korea-China FTA and the accession to the Trans-Pacific Partnership (TPP). In addition, more deals are expected to be signed with Canada, New Zealand, a
In 2014, the Korean economy is forecast to show a gradual recovery thanks to increasing exports, mainly led by the automobile and petrochemical sectors. However, the display industry is likely to face at least some challenges, as the global demand for, and price of, panels is on the decline.The Mini
Foreign news outlets have poured out reports about Korea as an IT powerhouse for years. CNN reported last year that Korea ranked first both in Internet penetration rate (82.7%) and smart phone penetration rate (78.5%), adding that the figure astonishingly amounts to 97.7% in the age group of 18 to 2
POSCO supplied 100% of the thick plates used in Shell’s FLNG project won by Samsung Heavy Industries. The steelmaker announced on November 12 that it completed the supply of 27 types of 150,000 tons of thick plates through the past 14 months for Shell’s project to develop the Prelude Gas Field locat
SK Engineering & Construction has won the Wasit Gas Plant project, launched by state-run Aramco of Saudi Arabia. The project is made up of four packages. SK E&C alone clinched three of the projects; construction of facilities for gas processing, natural gas liquids (NGL) fractionation and sulfur rec
The Korean government aims to join the ranks of the top five plant construction leaders of the world by 2015. In this vein, it needs a comprehensive strategies and supports from public sector as well as private sector. BusinessKorea interviewed with Nam Ki-man, Director General for Manufacturing Ind