In the first quarter of this year, Korea’s exports to the United States surpassed those to China for the first time since the second quarter of 2003.Exports to the U.S. are expected to remain strong for the foreseeable future, driven by foreign direct investment (FDI) in the manufacturing industries
Osstem Implant, the world’s leading dental implant company in sales, faced measures including the recommendation for dismissal of its CEO following embezzlement amounting to around 220 billion won. The Securities and Futures Commission (SFC) under the Financial Services Commission resolved on such m
The 21st Huawei Analyst Summit (HAS) kicked off in Shenzhen. Themed "Thrive with Intelligence", the event brought together more than 500 analysts, think tank researchers, and other guests from around the world to explore what's coming next in the age of intelligence, where the ICT industry is headin
In the wake of overcoming a slump in the Chinese market, South Korea’s cosmetics exports have successfully diversified into markets such as the U.S., Japan, and Vietnam, showcasing a positive growth trend. According to a report released on April 18 by the Korea International Trade Association’s Inte
Kolmar Korea has discovered the hair loss mitigation effects of Sophora flavescens extract and has presented their findings at an international academic conference, marking the industry’s first such patent application. The discovery and subsequent presentation have garnered global attention.On April
Jo Joo-wan, the CEO of LG Electronics, is set to meet with Microsoft’s CEO Satya Nadella to discuss the artificial intelligence business. Following Meta, LG Electronics is establishing AI collaboration relations with global “Big Tech” firms preparing for future ventures.According to sources in the c
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
bereum co.,ltd, a specialist in postbiotic, led by CEO Hwan Kwon Il, has signed an export and supply contract worth $980,000 for postbiotic pet food with Tecnocalidad of Colombia, under the leadership of CEO Harvey Ibanez Ortiz.Tecnocalidad is a subsidiary responsible for product imports of Agrocamp
The collective net worth of Korea’s 50 Richest on the 2024 Forbes list rose slightly to US$115 billion from $106 billion, amid the country’s global chipmaking ambitions. The complete list can be found at www.forbes.com/korea, as well as in the April/May issue of Forbes Asia and the May issue of Forb
Hanwha Systems (CEO: Sung-Chul Eoh) released images of various locations on Earth taken by its small SAR satellite on April 18th, successfully launched on December 4th, 2023.The images taken by Hanwha Systems' small SAR satellite were transmitted from an altitude of 650 kilometers above the Earth. T
The finance ministers of South Korea and Japan jointly announced that they could take appropriate measures to address recent volatility in the foreign exchange markets, signaling a readiness for “verbal intervention.” It appears that South Korea and Japan are joining hands to engage in a “currency w
HD Hyundai Heavy Industries announced on April 16 that it had signed a contract worth 640.6 billion won to jointly construct four naval vessels with the Peruvian state-owned SIMA Shipyard. Selected as the priority negotiating partner at the end of last month, the contract was formalized within appro
The water industry is generally defined as the business of producing and supplying potable water and industrial water needed for households and industries, as well as transporting and treating wastewater. The water industry is expected to steadily grow due to factors such as worsening water scarcity
Upstage, a pioneering AI company specializing in large language models (LLMs) and Document AI, today announced that it has raised $72 million in a Series B. With this latest investment, Upstage has now raised over $100 million since its founding in October 2020, making it the most-funded South Korea
In the global competitive race for artificial intelligence (AI) technology, South Korea is losing its core competitive edge as top talent is turning away from the country. Foreign companies, with their overwhelming financial power, are successfully attracting these skilled individuals.According to t
Samsung Electronics Co., Ltd., a world leader in advanced memory technology, today announced that it has developed the industry's first LPDDR5X DRAM supporting the industry’s highest performance of up to 10.7 gigabits-per-second (Gbps).Leveraging 12 nanometer (nm)-class process technology, Samsung h
The Korea Research Institute of Ships and Ocean Engineering (KRISO) announced on April 16 that it has launched a new research program aimed at developing core technologies for small modular reactor (SMR)-powered ships and floating SMR power generation platforms from this year through 2028.SMRs, a ze
Finance ministers of Korea, the United States, and Japan will meet for the first time ever in Washington, D.C., the United States on April 17.The Ministry of Strategy and Finance announced on April 16 that Deputy Prime Minister and Minister of Finance Choi Sang-mok will leave for the United States t
HD Hyundai Group’s shipbuilders have achieved 73 percent of this year’s order target in the first 100 days of this year. In particular, they are enjoying a boom in eco-friendly ships for the first time in 15 years, as they have been selecting only high-value-added vessels to fill its docks.According
Much attention is paid to geopolitical risks in the Middle East, which have accounted for the largest share of overseas construction orders to Korean construction companies in the first quarter of this year.A total of 183 Korean construction companies won 171 orders in 63 countries around the world