Governor Eric J. Holcomb, Secretary of Commerce David Rosenberg and Purdue University President Mung Chiang joined federal partners and executives of South Korea-based SK hynix Inc., the world’s leading producer of High-Bandwidth Memory (HBM) chips, today as the company announced plans to establish
Hanwha Aerospace is working with the Korea Aerospace Research Institute to develop a next-generation launch vehicle (KSLV-III) that significantly improves on the performance of the Nuri (KSLV-II). Based on a public-private partnership, the company looks to strengthen its launch vehicle technology an
The Korean government and three major Korean shipbuilders -- HD Korea Shipbuilding & Offshore Engineering (KSOE), Samsung Heavy Industries, and Hanwha Ocean -- will invest 9 trillion won to secure future super-wide gap technologies for the Korean shipbuilding industry.The Ministry of Trade, Industry
The Korean government has set a higher plant order intake target for this year than 2023 and will provide intensive support to help Korean plant builders attain the goal. This is because the global plant market is expected to grow and Korean companies’ order-taking competitiveness has been strengthe
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,
Samsung Electronics, SK hynix, and other major semiconductor firms have called for government attention and support in relation to the U.S. government’s impending subsidy payments.During a “Public-Private Semiconductor Strategy Meeting” held on the morning of Feb. 26 at the Korea Chamber of Commerce
Daewoo Engineering & Construction announced on Feb. 8 that Chairman Jung Won-joo visited India from the 31st of last month to the 6th of this month, where he held meetings with several business figures, including Vice Foreign Minister Dammu Lavi at the Ministry of Foreign Affairs, and executives fro
The government has recently come up with a new plan for the promotion of the robot industry, aiming to invest over 3 trillion won (US$2.24 billion) in the public and private sectors by 2030 to deploy one million robots across various industrial and societal sectors.The Ministry of Trade, Industry, a
In 2023, overseas construction orders totaled US$33.31 billion, exceeding US$30 billion for the fourth consecutive year. However, it is just short of the target of US$35 billion.According to the Ministry of Land, Infrastructure, and Transport (MOLIT) on Jan. 8, 321 Korean overseas construction compa
The Korean government has temporarily postponed the dispatch of an additional reconstruction cooperation team to Ukraine. This is due to a combination of changes in the international situation due to the prolonged Ukraine-Russia war and a reshuffle of the Yoon Suk-yeol administration of Korea.Accord
Samsung Electronics is set to establish an advanced semiconductor packaging research and development (R&D) base in Yokohama, Japan. The company plans to invest 40 billion yen into this area by 2028.The Japanese Ministry of Economy, Trade and Industry, along with the city of Yokohama, announced on De
The government has set a goal to expand the K-Robot market to a scale of 20 trillion won by 2030 as the future growth engine. A combined investment of over 3 trillion won from both public and private sectors is planned with the objective of deploying one million robots across various industries, inc
The government will scale up the global share of Korean electric vehicle (EV) chargers to 10 percent from the current one percent by 2030. It will also provide support to foster competitive charger manufacturers.The Ministry of Trade, Industry and Energy (MOTIE) of Korea announced its policy directi
The Korean construction industry is expected to surpass US$30 billion in overseas orders for the fourth consecutive year. However, it is still up in the air that it will be able to reach the target of US$35 billion set in the first half of this year.The amount of overseas construction orders given t
Hyundai Engineering & Construction announced on Nov. 8 that it has signed a strategic business agreement with Korea Midland Power and the Korea Overseas Infrastructure & Urban Development Corporation (KIND) to jointly develop solar power generation projects in the United States.Through this agreemen
Specialized organizations have predicted that the impact of China’s graphite export control will be resolved within three months. This is because there have been similar cases in the past and it is difficult for China to consume all the graphite produced in China alone. However, South Korean battery
Flitto (CEO Simon Lee, KOSDAQ 300080), a global integrated language platform and AI data solution provider, announced on the 16th its participation as an exhibitor at Expand North Star 2023, a highly anticipated expo along with GITEX Global. The AI data company will be joining the expo ecosystem as
Seoul Metropolitan Government (SMG) and the World Smart Sustainable Cities Organization (WeGO) will award the inaugural Seoul Smart City Prize on Monday, Sept. 25.Established this year by WeGO and SMG, the prize aims to promote human-centered smart city initiatives. It recognizes efforts by city gov
The government is entering into follow-up work to pursue the joint development of lithium mines proposed by Ukrainian President Volodymyr Zelensky.During a meeting with the Ministry of Land, Infrastructure, and Transport (MOLIT) press corps on Sept. 18, Minister Won Hee-ryong said, “President Zelens