The exchange rate between the Korean won and the U.S. dollar has surged by more than 7 percent this year, surpassing the magnitude of the increase during the global financial crisis from 2008 to 2009.On April 19, the won-U.S. dollar exchange rate concluded trading at 1,382.2 won in the foreign excha
Korea’s secondary battery exports were in a slump with the steepest downward curve among the 15 major items in the first quarter of this year, down more than 20 percent. However, the Korean government expects the slump to be a temporary one due to a plunge in raw material prices, and secondary batte
Lithium-for-earth and Hydro Lithium announced on Jan. 31 that two technologies invented by Dr. Jun Woong -- Lithium Extraction from Saline and Other Sources (CULX), and Environmentally Friendly Lithium Hydroxide Production Using Water (CULH) -- have recently been granted patent registrations in mult
South Korean battery companies are reportedly exploring the possibility of establishing a lithium processing plant in Chile, the world’s largest holder of lithium reserves. According to Bloomberg on Jan. 19 (local time), Invest Chile, the foreign investment promotion agency of the South American nat
Following the spread of COVID-19, North Korea’s real gross domestic product (GDP) has experienced three consecutive years of negative growth, leading to a widening income gap of up to 30 times per capita between North and South Korea. Last year, North Korea’s population was approximately half the si
POSCO Holdings has succeeded in localizing electrodialysis membranes, a key component for lithium extraction, with a small but promising Korean company.On Dec. 14, POSCO Holdings and WSK announced that they signed a business agreement to jointly develop electrodialysis membranes for lithium producti
This year marks the first time that the number of countries importing Korean kimchi has surpassed 90. The global popularity of Korean kimchi, often attributed to the Hallyu wave and health trends such as vegetarianism, is leading the way in showcasing K-food on the international stage.According to t
In the ratio of corporate debt to South Korea’s gross domestic product (GDP), it has been revealed that the country has moved from the fourth to the third position globally in just three months.According to the world debt report released by the Institute of International Finance (IFF) on Nov. 16, co
'H2 MEET 2023', the world's largest hydrogen industry exhibition, will host its largest-ever event at KINTEX 1 in Goyang, Gyeonggi Province for 3 days from Wednesday, September 13 to Friday, September 15.This exhibition is hosted by the H2 MEET Organizing Committee (Chaired by Nam-hoon Kang, Chairma
SK nexilis, an SKC subsidiary investing in copper foil for secondary batteries, announced on July 31 that they have signed a business agreement on July 28 to explore the establishment of a joint venture with Toyota Tsusho, a trading affiliate of the Toyota Group, to produce and supply copper foil in
According to the POSCO Group on July 9, non-steel sectors accounted for 58% of total sales last year, outstripping the sales of steel, which had been the group’s cash cow.POSCO Group’s non-steel business enhancement began with the acquisition of the Hombre Muerto salt lake in Argentina in 2018. Afte
The Korean government has requested the United States expand the list of recognized countries for battery minerals in connection with the electric vehicle tax credit in the Inflation Reduction Act. It also asked for clarification on the meaning of “foreign entities of concern (FEOCs)” from which bat
POSCO HOLDINGS is set to expand its lithium production base with the initiation of the second stage of brine lithium production in Argentina.On June 28, a groundbreaking ceremony was held at the Salar de Hombre Muerto salt flat, located at an altitude of 4,000 meters in Argentina.The newly initiated
The South Korean government has asked the U.S. to clearly define the Chinese companies from which it should not be procuring essential minerals for electric vehicle batteries under the conditions of subsidy tax credit payments in the U.S. Inflation Reduction Act (IRA).According to a U.S. government
Recently, the won-dollar exchange rate has fluctuated the most among major currency exchange rates. This sharp change in the value of the won has been blamed on Korea’s trade deficit.According to the Bank of Korea (BOK)’s June Monetary and Credit Policy Report, the rate of changes in the won’s excha
Korea’s stock market gained the fifth most among the Group of 20 (G20) in May. This growth was driven by strong stock prices of semiconductor companies.According to the Korea Exchange on June 4, the KOSPI rose 3.02 percent in the month of May. The KOSPI, which closed at 2501.53 on the last trading d
As competition intensifies in the electric vehicle (EV) market, a “supply chain war” over key battery minerals is heating up. Not only battery cell and material companies that directly need minerals, but also automakers and energy companies have jumped into the mineral acquisition battle.General Mot
POSCO Group is ramping up its investment not only in procuring lithium and nickel, which are secondary battery materials, but in producing cathode and anode materials for batteries.According to industry sources on May 17, POSCO Holdings is investing heavily in secondary battery materials such as lit
The rapid growth of the electric vehicle market and a sharp increase in sales of the three Korean battery makers are bringing big profits to Chinese companies that dominate the market for key battery materials such as lithium. Korean battery makers depend on Chinese companies for close to 90 percent
An increasing number of governments are controlling the supply of EV battery minerals such as lithium and nickel.The examples include Chile. The Chilean government announced on April 20 that its lithium industry would be nationalized. Chile has the largest lithium reserves and is the second-largest