A cutting-edge CXL IP startup, Panmnesia, announced its participation as the main sponsor at the inaugural CXL Consortium Developer Conference 2024 (CXL DevCon 2024), set to take place in April in Santa Clara, California, USA. Panmnesia will showcase the Compute Express Link (CXL) interoperability o
On April 25, the Presidential Advisory Council on Science & Technology held a full council meeting at the presidential office in Yongsan, Seoul, to discuss the three major technology initiatives aimed at propelling South Korea to a leading position in the global arena.The government has finalized it
SK telecom announced on April 25 that it has become the first telecommunications company in South Korea to obtain the international standard certification for AI Management System under ISO/IEC 42001. The ISO/IEC 42001 standard was designed to ensure that companies and organizations can build and op
Lotte Group has sold “Lotte World Adventure Shenyang” in China. It marks over seven years since construction was halted at the end of 2016 due to China’s retaliation over the deployment of the Terminal High Altitude Area Defense (THAAD) system. Lotte World Shenyang was envisioned as a large-scale pr
SK hynix achieved unexpectedly strong performance in the first quarter, surpassing market expectations.The company announced on April 25 that it recorded 12.43 trillion won (US$9.04 billion) in sales and 2.89 trillion won in operating profits, representing a 23 percent operating profit margin, and 1
Hanwha Aerospace has signed an additional executive contract with Polish Armaments Agency for supplying 72 more Chunmoo Multiple Rocket Launcher Systems (MRLS), preceded by the framework contract and first executive contract, both signed in 2022.Worth around 2.27 trillion KRW (1.6 B USD), the contra
Seoul Mayor Oh Se-hoon held a press briefing at Seoul City Hall on April 24 to announce a comprehensive plan to develop the Han River. The plan is a sequel to the Great Han River Project launched in March last year with the goal of creating a waterfront city in Seoul.Accordingly, the city aims to cr
Hanwha Life Insurance has become the first domestic insurance company to venture into overseas banking.The company announced on April 24 that it will acquire a 40 percent stake in Nobu Bank held by Lippo Group, the sixth largest conglomerate in Indonesia. The process of equity investment will be fin
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
Korean shipbuilding stocks have been rallying as expectations grow that the Korean shipbuilding industry will enjoy reflective benefits from US sanctions against China.According to the Korea Exchange on April 23, Hanwha Ocean closed at 34,750 won (US$25.35), down 2550 won, or 7.92 percent, from Apri
President Yoon Suk-yeol held a summit with Romanian President Klaus Iohannis at the Yongsan presidential office on April 23 to discuss bilateral cooperation. It is the first bilateral summit in Korea in 16 years since 2008. Yoon visited the Lithuanian capital Vilnius for a North Atlantic Treaty Orga
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
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
The Federation of Korean Industries (FKI) will hold a seminar on “Global Economic Turbulence: Prospects and Implications for the World and Korean Economy” from 09:30 on Tuesday, April 30 at the FKI Tower Conference Center in Yeouido.The seminar is being held to assess the global economic impact of r
Netflix Services Korea has begun an administrative lawsuit against Korea’s tax authorities over 78 billion won (US$57 million) in tax imposed on the OTT giant. Much attention is being paid to see how the Korean court will rule on the unfair practice of global platform companies such as Netflix not p
Seoul is considering establishing an international school in the international financial center of Yeouido in Seoul. The idea is to create a comfortable environment for foreigners to live in Seoul in order to attract more overseas investment.The Seoul Metropolitan Government will launch a service to
The opposition party’s landslide victory in the 22nd general election is expected to disrupt the Korean government’s planned new trade strategy. A plan to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which requires parliamentary approval, is likely to be pus
HLB has opened an office in the Cambridge Innovation Center (CIC) in Boston, Massachusetts, in the United States, to strengthen its collaboration with global pharmaceutical giants and to support its subsidiaries’ expansion into overseas markets.Through the Boston office, HLB plans to strengthen comm
Hanon Systems, a leading global automotive thermal management supplier for electrified mobility, has been named a GM Supplier of the Year in General Motors’ 32nd annual Supplier of the Year awards in Miami, Florida.A global, cross-functional team at GM recognized 86 of its best suppliers for perform
With U.S. President Joe Biden directing the Office of the U.S. Trade Representative (USTR) to triple tariffs on Chinese steel and aluminum, attention is turning to impacts the action will have on Korea’s steel industry.According to the Korean government and the Korean steel industry on April 17, the