In an unprecedented move, the U.S. government has decided to grant a massive US$19.5 billion subsidy to its domestic semiconductor company, Intel. This amount is nearly double the combined expected subsidies for Samsung Electronics, which is anticipated to receive $6 billion, and Taiwan’s TSMC, expe
While major countries such as the United States, Japan, and the European Union (EU) are rushing to provide subsidies for semiconductors, there are growing voices that Korea will lose the global semiconductor war if it does not subsidize Korean companies such as Samsung Electronics and SK hynix, citi
The U.S. Congress began to keep Hyundai and Kia in check as the two Korean automakers continue to enjoy the growth of their electric vehicle sales in the U.S. market. The U.S. Congress made a thing of their business strategy of discounting subsidized electric vehicles through a lease car exception u
The U.S. Department of Defense is reported to have withdrawn a plan to support Intel with semiconductor subsidies of US$2.5 billion.According to Bloomberg on March 13, the Department of Defense held an informal meeting and decided to cancel the plan to support Intel with US$2.5 billion in subsidies.
As the global semiconductor war has become a hot race among nations, major countries such as the United States, China, and Japan have been providing large cash support to their own companies or foreign companies that make investments in their semiconductor industries to boost the growth of their sem
Since taking office in early July 2022, Ongjin County Mayor Moon Kyung-bok has been busy listening to the voices of his residents. This has been producing remarkable positive results.In 2023, Ongjin County paved the way for a new leap forward, including finalizing a plan for the construction of Baek
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
The Korean government has set the goal of seeing Korean green companies achieve 100 trillion won in overseas exports by 2027. To this end, it plans to proactively discover demand for overseas environmental businesses. In particular, it aims to build a sustainable foundation for an overseas expansion
General Motors (GM) is considering investing to build a plug-in hybrid electric vehicle (PHEV) production facility at its Bupyeong plant in Incheon, Korea.GM is considering investing in the construction of a PHEV facility at its Bupyeong plant, according to sources in the automobile industry on Feb.
The U.S. government has announced a plan to provide over 2 trillion won (US$1.5 billion) in subsidies to the U.S.-based semiconductor company GlobalFoundries. This marks the first large-scale support initiative since the enactment of the CHIPS and Science Act (CSA) in 2022 aimed at building the semi
Global electric vehicle registrations, excluding those in China, crossed 5.5 million units in 2023, marking a growth rate of 30 percent. Hyundai and Kia also fared well, ranking fourth in global deliveries.About 5,648,000 electric vehicles were registered globally in 2023, excluding those China, up
News about BYD’s entry into South Korea has drawn attention to changes in the share of the South Korean electric vehicle market dominated by Hyundai Motor. BYD is a Chinese electric vehicle maker. Experts predict that BYD’s price competitiveness will play a big role in determining its success in the
China is dominating the global battery market backed by overwhelming growth in its home market. Stopping China’s rise in the global battery industry has become a big challenge for Korea, which ranks second in the market behind Chinese companies as well as the United States and Europe.Six of the worl
On Feb. 7, Bloomberg reported that Tesla sold only one unit of the Model Y in Korea in January, citing Korean market research firm CarIsYou and government data.The growth of the electric vehicle market in Korea slowed as high interest rates and inflation have kept consumers from spending, while conc
Samsung Electronics is gearing up for the commencement of operations at its semiconductor contract manufacturing foundry in Taylor, Texas, in the U.S. by deploying manufacturing-related personnel in the second half of the year. If the current situation persists, there should be no issues with starti
LG Chem has signed a massive cathode material supply contract worth 25 trillion won with General Motors (GM). With the U.S. Tennessee cathode material plant at its core, LG Chem plans to strengthen its cooperation in the North American market alongside GM.LG Chem announced on Feb. 7 that it had sign
Korean carmakers and car importers are in a flurry of activity as the Korean Ministry of Environment laid out a plan on Feb. 6 to change subsidies for electric vehicles (EVs) in 2024. According to the revised plan, Hyundai and Kia will remain at the same level, while mid-sized Korean-based carmakers
The Ministry of Trade, Industry and Energy (MOTIE) has set a target of US$700 billion for South Korea’s exports next year, with a plan to attract US$35 billion in foreign direct investment in Korea and US$150 trillion in private investment.MOTIE Minister Ahn Duk-geun said in a briefing at the Sejong
The U.S. government is expected to pay the first-quarter subsidies under the CHIPS Act, or Semiconductor Support Act, signaling significant benefits for Intel, Samsung Electronics, and Taiwan’s TSMC, all of which have invested in local operations. According to foreign media reports on Jan. 29, the J
Following the election of an anti-China candidate in the Taiwanese presidential election, the geopolitical risks associated with Taiwan, a central player in the global semiconductor supply chain, have elevated the roles of Southeast Asian countries like Malaysia, Singapore, and Vietnam as new global