The Small but Strong Global Company Fostering project led by the Korea Institute for Advanced Technology (KIAT) is playing the role of a stepping stone for promising small and medium-sized Korean enterprises that want to go global.Support projects usually proceed in the following order –- an explana

Samsung Heavy Industries (SHI) has successfully tested its 5G-based autonomous and remote control navigation system.SHI and SK Telecom (SKT) announced on Dec.10 that they have completed the development of an autonomous and remote control navigation test platform, which connects Daejeon and Geoje thr

Global e-commerce platform Cafe24 announced that its free font launched in August has breached the 3 million download mark in just 3 months. The font is proving to be very popular with users with its average daily downloads reaching over 30,000.Cafe24’s free font has significantly minimized the comp

Hyundai Motor Co. and Kia Motors Corp. are shifting the focus of their eco-friendly car marketing strategy from hybrid cars to electrified vehicles including electric vehicles (EVs) and fuel cell electric vehicles (FCEVs). Electrified vehicles accounted for a mere 0.5 percent of green car sales in 2

Daewoo Shipbuilding & Marine Engineering (DSME) has won a US$380 million order for three high-value-added vessels including one LNG carrier.DSME announced on Dec. 9 that it received an order for one LNG carrier and two ultra-large crude oil carriers from Maran Gas and Maran Tankers under Angelicouss

CJ CheilJedang is trying to increase its liquidity by selling real estate assets and this shows the sense of crisis of CJ Group as a whole. CJ CheilJedang has conducted mergers and acquisitions aggressively for years in order to realize an economy of scale, but its debt ratio has risen before any sy

Electric vehicles (EVs) loaded with batteries from LG Chem and SK Innovation were reportedly included in China's white list for subsidies. It is the first time since 2016 that EVs running on Korean batteries are included in the subsidy list.The Chinese Ministry of Industry and Information Techno

South Korean shipbuilders won US$16.4 billion (19.5 trillion won) worth of shipbuilding orders in the first 11 months of this year, beating their Chinese rivals who posted US$15.3 billion (18.2 trillion won) during the same period, according to data released by Clarksons Research on Dec. 9.The stati

Incheon Port Authority (IPA) cohosted “2019 Korea Brand Expo” with Lotte Home Shopping in Los Angeles, the United States on Dec. 3-4 to encourage Korean small and medium-sized enterprises (SME) to advance overseas.A total of 73 SMEs and startups participated in the expo and held talks with buyers on

With the implementation of new IMO regulations around the corner with regard to the sulfur content of ship fuel, an increasing number of countries are prohibiting the port entry of ships equipped with scrubbers. Under the circumstances, South Korean shipbuilders are expected to win a number of new o

Hanwha Systems will make a foray into the air taxi market. The company announced on Dec. 8 that the Committee on Foreign Investment in the United States (CFIUS) has finally approved its US$25 million investment in Overair (formerly known as K4 Aeronautics), a leading air taxi company. Hanwha Systems

Samsung Galaxy placed first in this year’s Top 100 Brands of Korea released by BrandStock on Dec. 8. It claimed the top spot of the BrandStock Top Index (BSTI) for nine consecutive years.BrandStock said Samsung Galaxy has strong upside potential in terms of brand value as the share of Samsung Electr

The completion ceremony for the third and fourth units of the Shin-Kori Nuclear Power Plant was held on Dec. 6. The third-generation nuclear power plants have been put into commercial operation ahead of those of the United States and Europe to prove the excellence of South Korea’s nuclear power gene

South Korean and Chinese entrepreneurs and former government officials had a meeting in Seoul on Dec. 5 and agreed to support an early conclusion of the two countries’ Regional Comprehensive Economic Partnership (RCEP). The meeting was co-hosted by the Korea Chamber of Commerce and Industry and the

The National Institute of Environmental Research announced on Dec. 5 that the Mercedes-Benz EQC 400 4Matic has a maximum driving range of 171 kilometers at seven degrees Celsius below zero whereas the range is 309 kilometers at 25 degrees Celsius above zero. The company’s first pure electric vehicle

Kia Motors is ready to launch new models in India to expand its local market presence.The company announced on Dec. 5 that it held a ceremony to mark the completion of a plant in Anantapur, Andhra Pradesh, India. Built on a site of ​​2.16 million square meters, the new factory is a state-of-the-art

LG Chem of Korea and General Motors (GM) of the United States agreed on Dec. 5 (local time) to set up a joint venture for electric vehicle (EV) batteries in Ohio, the United States.The two companies have agreed to invest more than US$2 billion to build the plant in Rosetown, Ohio, with each side put

From Jan. 1, 2020, less than one month from now, vessels around the world will be subject to IMO 2020, a new environmental regulation that lowers the limit for sulfur content of ship fuel oil from 3.5 percent to 0.5 percent.Shipping companies have three options to lower sulfur content in vessel fuel

Hyundai Motor Co. will invest 61 trillion won by 2025 to accelerate its transformation into a smart mobility solution company. The automaker plans to reinforce its capabilities in the two pillars of its future business -- AI-based mobility products and services. It aims to begin volume production of

Unionized Hyundai Motor workers elected Lee Sang-soo, a utilitarian candidate, as their new leader instead of Moon Yong-moon, a hawkish candidate. They won 21,838 votes and 21,433 votes, respectively. Much attention is being paid to whether the unexpected election result will lead to a change in lab