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
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
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
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
Japanese NAND flash semiconductor manufacturer Kioxia is reportedly reigniting merger plans with Western Digital (WD), but SK hynix remains steadfast in its opposition.According to industry sources on April 18, including reports from the Yomiuri Shimbun, Kioxia may pursue a listing on the Tokyo Stoc
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
Samsung Electronics is set to expand its research and development (R&D) organization in Silicon Valley in the U.S. for the design of artificial intelligence semiconductors. Amid a reshaping semiconductor industry focused on AI chips, Samsung plans to enhance its design capabilities to disrupt the ma
Saudi Arabia’s state-owned oil company Aramco called off a plan to expand Safaniya Oil Field, putting a damper on Hyundai E&C’s plan to reach its annual overseas order goal. The company has set a target of 6.3 trillion won for overseas orders this year.According to sources in the Korean construction
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
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
After years of double-digit growth, the global electric vehicle market is entering a chasm, considered to be a slowdown in demand just before mass adoption. Global automakers that have been aggressively investing to expand their electric vehicle lineups are scrambling for survival by making use of a
The market capitalization and operating profit of South Korea’s top 100 companies have been surpassed by those of their counterparts in Taiwan. This reversal comes as TSMC outpaced Samsung Electronics in operating profit in 2022, leading to a widening gap between the two representative companies.Acc
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
SK Group has embarked on a significant business restructuring, focusing on the future expansion of new businesses in fields like semiconductors, artificial intelligence, and carbon neutrality.According to industry sources on April 17, SK networks plans to use the proceeds from the sale of SK Rent-a-
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
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
Domestic semiconductor design houses are accelerating their expansion into the global market with plans to diversify their revenue sources by targeting overseas fabless semiconductor design companies.Industry sources revealed on April 16 that Samsung Electronics’ Foundry Business Unit’s Design Solut
Samsung Electronics announced on April 15 that it is investing US$40 billion in its semiconductor factory in Taylor, Texas, which is more than double its initial plan of US$17 billion. The U.S. government has offered a higher subsidy ratio (16% or US$6.4 billion) compared to Intel and TSMC, and the