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
The K-UAM One Team consortium, consisting of Korean Air, Hyundai Motor, and KT, has successfully validated the world’s first integrated operational system using 5G aviation networks for Urban Air Mobility (UAM).On April 24, Korean Air announced that it, along with Hyundai Motor, KT, Incheon Internat
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
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
Europe’s views are changing in favor of nuclear power generation. Many European countries agree that nuclear power is necessary for carbon neutrality and energy security. They are also investing in new technologies such as small modular reactors (SMRs). Europe has a growing interest in South Korea,
The operating profits of the four major domestic groups -- Samsung, SK, Hyundai Motor, and LG -- last year showed a decrease of over 65 percent compared to 2022.The Korea CXO Research Institute, specializing in corporate analysis, released a report containing the findings on April 24.Specifically, t
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
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
Samsung Electronics and SK hynix did not pay corporate taxes last year as they both recorded operating losses due to the downturn in the semiconductor industry.According to Samsung Electronics’ business report released on April 23, the company recorded an operating loss of 11.52 trillion won (US$8.3
Chinese electric multiple unit rapid transit cars, which dominated the U.S. electric rapid transit car market through price war, are being withdrawn from the market one after another due to safety issues and rising costs. Hyundai Rotem, which has struggled due to the price war, is aggressively pursu
Global leading tire company Hankook Tire & Technology (Hankook Tire)’s iON evo SUV, a high-performance tire specially designed for electric vehicles, has received the highest rating, “Exemplary” in a tire test conducted by the German automotive magazine Auto Bild. Through this, a company once again
Round eight of this season’s ABB FIA Formula E World Championship in the principality of Monaco is the next highlight for the Hankook iON Race. On the 27th of April, the spotlight in the second-smallest country in the world will be on the fully electric racing series. The 3.337-kilometer circuit, wh
Both Samsung Electronics and SK hynix, the two leading semiconductor giants in South Korea, closed lower. The decline was influenced by a simultaneous sharp drop in semiconductor stock prices, with Nvidia falling by 10 percent in the U.S. market.In the KOSPI market on April 22, Samsung Electronics c
As Samsung Electronics launches its new all-in-one personal computer (PC), Intel, the provider of the central processing unit (CPU), has announced its intention to work with Samsung Electronics to develop the AI PC market together.Bae Tae-won, vice president of the Intel Korea Samsung Business Divis
With the ongoing competition in the AI semiconductor sector, the foundry (contract chip manufacturing) industry is facing a new challenge due to stagnant demand and overcapacity. Concurrently, the rivalry for dominance in the high-bandwidth memory (HBM) segment, a crucial component in AI, is intensi
Lee Jae-yeon, vice president of SK hynix’s next-generation semiconductor research and development division, the Global Revolutionary Technology Center, stated on April 22 that “Emerging Memory will set a new paradigm for the AI era.”Emerging Memory refers to memory technology based on new forms or p
ArkData, a specialist in real-time data replication (CEO: Ko Kwang-yeon), has announced official support for real-time data extraction and replication for the latest version of TmaxTibero's Tibero (Tibero) DBMS, Tibero 7.The product that supports replication for Tibero 7 is ArkData's 'Ark for CDC'.
Interest in the Chinese e-commerce platform that surged in the Korean market with its low-price strategy appears to be waning. The average usage time for the AliExpress app (combining Android and iOS) has plummeted to levels last seen three years ago, and the transaction volume is also at a meager l
The number of affiliates belonging to Korea’s conglomerates crossed 3,000 for the first time in 2023. The increase is the result of business diversification in response to an unstable global business environment, but the increase has generated many negative side effects.As of May 2023, the number of
The New Zealand Wine Festivals, which promise an unforgettable experience of New Zealand culture and remarkable wines, are returning this year by popular demand. The events in Seoul and Busan will leverage the growth and recognition of an array of New Zealand’s premium wines.“New Zealand wine is a f