BMW Group Korea will now carry out all electric vehicle and software development, as well as certifications in Korea.“Korea is BMW’s fifth-largest market globally, and this year we became the No. 1 brand in premium cars, including electric vehicles,” said Jochen Goller, a member of the Board of Mana
Samsung Electronics Chairman Lee Jae-yong (left) and BMW CEO Oliver Zipse (right) talk about BMW’s latest electric car, the New i7, at the BMW Driving Center in Yeongjongdo, Incheon, Korea, in December 2022.Germany’s BMW Group said on April 15 that it bought about 6.535 trillion won worth of auto pa
Artificial Intelligence (AI), deep partner collaboration, and building a strong ecosystem foundation were championed as next-level growth engines to new opportunities in industry digitisation at the recent Huawei Cloud APAC Partner Connection Summit 2024.Huawei Cloud Asia Pacific hosted approximatel
Among domestic construction companies, GS Engineering & Construction (GS E&C) has received the highest number of defect judgments in the last five years, with a total of 1,646 cases.According to the Ministry of Land, Infrastructure and Transport on March 24, GS E&C had 3,284 defects reported to the
A medical waste treatment system, which is capable of 99.9999 percent sterilization by using high-temperature and high-pressure steam, has been developed for the first time in the country.The Korea Institute of Machinery and Materials (President Seog-Hyeon Ryu, hereinafter referred to as KIMM), an i
South Korean fashion company ShinWon Corporation (CEO: JJ Park) is conducting the global campaign #WithUs to commemorate International Women’s Day.Every year on March 8th, designated by the United Nations (UN) in 1975, is International Women's Day. Celebrating its 116th year this year, International
The Namdong district of Incheon Metropolitan City houses the Namdong National Industrial Complex, playing a pivotal role in driving the Korean economy. The industrial complex, established in December 1989, is a key metropolitan industrial area with an annual production value of approximately 30 tril
Hanjin announced on Jan. 26 that it will expand its overseas bases to a total of 42 this year to foster its global business.This year, Hanjin will establish 17 subsidiaries and a total of 42 bases in 22 countries including Thailand, Bangladesh, Morocco, and Hungary to build a logistics network conne
The government is set to implement a comprehensive plan for “smart cities” incorporating new technologies. The primary focus is accelerating the entry into foreign markets through the restructuring of the “K-City Network” project. This initiative aims to strengthen the global competitiveness of Kore
Iljin Electric disclosed on Jan. 16 that it secured a contract with Malaysia’s state-owned electricity utility, Tenaga Nasional Berhad (TNB), on Jan. 9. The US$36 million contract involves the supply of materials and connection construction for a 52.4 km, 275 kV high-voltage underground cable projec
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
South Korean passports took second place in the global passport power rankings. They moved up one spot from third place last year.The number of countries that give visa-free entry to Korean passport holders stood at 193, which means Korean passports claim second place, tied with Finland and Sweden,
Ahead of its Galaxy Unpacked event in the United States, Samsung Electronics has embarked on a campaign to promote ‘Galaxy AI’ at major landmarks around the world.On Jan. 7, Samsung Electronics announced the launch of digital outdoor advertisements for its Galaxy Unpacked 2024 event across 13 countr
Nexon Korea, the operator of the online game MapleStory, is set to face a hefty fine of more than 10 billion won from the Korea Fair Trade Commission for selling game items with virtually zero chance of being won.The KFTC announced on Jan. 3 that it would impose a corrective order and a fine of 11.6
The Incheon Port Authority (IPA) has announced that as of Dec. 22, the container traffic at Incheon Port has surpassed 3.35 million TEU and is projected to approach a total of 3.45 million TEU. This figure is expected to set a new record high.Notably, the export performance of used cars is anticipat
On the morning of Dec. 23 a fire broke out at POSCO’s Pohang Works, temporarily halting the operation of three blast furnaces. The government and POSCO said that the restart of the furnaces after putting out the fire would not cause any major disruption to the production and supply of products. Howe
Contents First, a global leader in digital comics specializing in IP development, production, distribution, and transmedia, announced today that it will begin publishing English e-book versions of romance fantasy web novels popularized by its Tappytoon reading platform. The Broken Ring: This Marriag
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 Korean government has decided to lower Korea’s import dependence on 185 key items for semiconductors, secondary batteries, automobiles and shipbuilding to 50% by 2030. As of last year, Korea’s import dependence averaged 70%, with some items exceeding 90%.The Ministry of Trade, Industry and Energ
The government is opening up industrial research and development (R&D) to foreign institutions to discover and develop key technologies in areas vulnerable to becoming weak links in South Korea’s flagship industry value chains, such as “technology critical for leapfrogging,” “next-generation growth-