SAMSUNG E&A (formerly Samsung Engineering), a total solutions provider for the global energy industry, announced today that it recorded an operating profit of KRW 209.4 billion in the first quarter exceeded the market forecast (KRW 196 billion), continuing a solid performance trend.Through the Q1 pr
Volvo Group Korea, a specialized excavator manufacturer, announced on April 24 that it has completed the construction of Asia’s first group battery pack production facility at its Changwon Plant in South Gyeongsang Province, South Korea.On April 23, Volvo Group Korea held a ceremony at the Changwon
LG Energy Solution has declared war against technology theft, believing that patent infringement by overseas battery-related manufacturers in regions like China and Europe is severe. The company’s own investigation revealed 580 cases of confirmed patent infringement. They are ready to pursue legal a
Macrogen, a global genome analysis company, has officially started building the largest Global Genome Center in Asia.The Incheon Free Economic Zone Authority announced that Macrogen held a groundbreaking ceremony on April 24 at the Advanced Industry Cluster in Songdo International City, Zone 5, for
The upcoming Nintendo Switch 2, the first new gaming device from Japan’s Nintendo in eight years, is expected to incorporate a significant amount of technology from Samsung Electronics. It is predicted that a wide range of Samsung products, from displays to memory and foundry services, will be used,
The Korean construction industry is on edge due to the conflict between Israel and Iran and between Israel and Hamas, which has led to a decline in orders from the Middle East and concerns about lower profitability due to rising raw material prices. The Middle East is a big overseas market for Korea
Toss Lab, the provider of the enterprise collaboration tool JANDI, announced that it has been honored with the 'Technology Rising Star Partner of the Year' award at the AWS Partner Summit Seoul 2024. This prestigious award is presented to an AWS Independent Software Vendor (ISV) partner that has dem
It has been revealed that global SPA brand H&M is struggling to overcome challenges in the domestic market.According to the Financial Supervisory Service’s electronic disclosure system on April 24, the operating profit of Hennes & Mauritz AB, the operator of H&M, for the fiscal year 2023 from Decemb
Huawei launched its game-changing RAN Intelligent Agents. The RAN Intelligent Agents introduce a set of telecom foundation model, RAN digital twins system (RDTS), and intelligent computing power to empower 5.5G with intelligence, according to Eric Zhao, Vice President and Chief Marketing Officer of
HD Hyundai Heavy Industries (HHI) announced on April that it has signed a memorandum of understanding (MOU) with Philly Shipyard in Pennsylvania of the United States to provide new shipbuilding and maintenance, repair and overhaul (MRO) services for US naval and government vessels for the U.S. gover
Doosan Enerbility will carry out a modernization project to improve the performances of old power plants and build environmental facilities in Kazakhstan.Doosan Enerbility announced on April 24 that it has signed a memorandum of understanding (MOU) with the Ministry of Energy of Kazakhstan and KEPCO
With Canadian Export Promotion, International Trade and Economic Development Minister Mary Ng leading a large-scale trade mission to Korea, high-level business leaders from both countries have come together to call for expanding cooperation in not only traditional industries such as energy but in cu
China’s Alibaba Group, the parent company of AliExpress, which has been embroiled in controversy for selling knockoffs and distributing low-quality, unauthorized goods in Korea, is reportedly considering making a 100 billion won equity investment in Korean women’s fashion application Ably, causing a
Samsung Bioepis announced on April 23 that it has received final marketing authorization from the European Commission (EC) for Pyzchiva (project name SB17, ustekinumab), a biosimilar to Stelara. Pyzchiva’s active substance name is ustekinumab.Pyzchiva is the fourth autoimmune disease treatment devel
OCI Holdings announced on April 23 that it will expand its solar power business in earnest after signing a memorandum of understanding (MOU) for investment cooperation with the Malaysian central government at the KL20 Summit 2024, a global investment attraction event held in Kuala Lumpur, Malaysia,
Hyundai Mobis, a global leading company in the electric vehicle supplier, announced the construction of a new plant in Spain, the heart of Europe's automotive market. Mobis currently operates battery system production facilities in Korea, China, and the Czech Republic and is building several more in
Taiwan, a major hub for the world’s top semiconductor companies, has experienced a series of earthquakes, leading to temporary delays in semiconductor supply and potential price hikes.On April 23, the industry reported that over 50 aftershocks, ranging from magnitude 3.0 to 6.3, struck eastern Taiwa
At one point, 8 out of 10 Chinese smartphones used Organic Light Emitting Diode (OLED) panels from Korean companies. Now, that number has plummeted to less than 2 out of 10, indicating a dramatic drop in the market share of Korean companies as China encourages the use of domestically produced compon
Samsung Electronics has launched a next-generation NAND flash product with the industry’s highest-stacked semiconductor cells. With the surge in artificial intelligence (AI) demanding vast amounts of image and video data, the value of NAND storage is also rising.On April 23, Samsung Electronics anno
Deutsche Bank has today announced it has been appointed by Euroclear Bank SA/NV as Cash Settlement and Foreign Exchange Bank (under Euroclear direct link) with the Korea Securities Depository (KSD). The mandate is to support South Korean government bond activity for Korea Treasury Bonds (KTBs) and M