Governor Eric J. Holcomb, Secretary of Commerce David Rosenberg and Purdue University President Mung Chiang joined federal partners and executives of South Korea-based SK hynix Inc., the world’s leading producer of High-Bandwidth Memory (HBM) chips, today as the company announced plans to establish
Bank of Korea Governor Lee Chang-yong had a surprise meeting with Pan Gongsheng, the current Chinese Communist Party Committee Secretary and head of the People's Bank of China (PBC) on July 3 ahead of U.S. Treasury Secretary Janet Yellen’s visit to China. The PBC actively publicized the meeting
As Ford and CATL recently announced a plan to build a battery manufacturing plant in Marshall in the U.S. state of Michigan by investing US$3.5 billion, the U.S. Republican Party, which is conservative on diplomatic issues, is expressing concern about the project. According to foreign media reports
SK On, a leading electric vehicle (EV) battery manufacturer, announced on Dec. 6 that its joint venture (JV) with American auto giant Ford Motor Co. held a groundbreaking ceremony for an EV battery manufacturing mega campus in the United States as it embarks on steps to expand leadership in the glob
Samsung Biologics president John Rim has recently met with Eric Holcomb, governor of the U.S. State of Indiana who visited Korea, and discussed the company's potential investment in the U.S. state.Rim met with the governor on Aug. 26 at its plant in Songdo, Incheon. They discussed the current st
The Monetary Policy Board of the Bank of Korea raised the base rate by 25 basis points, from 0.75 percent to 1.00 percent on Nov. 25.The bank's action came three months after it raised the base rate from 0.5 percent to 0.75 percent in August. It had kept the base rate at 0.5 percent per annum fo
SK Group chairman Chey Tae-won is scheduled to visit Georgia of the United States around May 24 (U.S. local time) to check out the construction site of SK Innovation’s electric vehicle (EV) battery plant.Chey will visit the United States as a member of the business delegation to a Korea-U.S. summit
Georgia Governor Brian Kemp has again called for President Joe Biden to overturn the U.S. International Trade Commission’s Feb. 11 ruling on SK Innovation.In a statement issued on April 8 (local time), the governor says that without the presidential action, the long-term prospects of SK Innovation
Lawmakers of the U.S. State of Georgia have adopted a resolution calling on LG Energy Solution and SK Innovation to reach an agreement to end their electric vehicle (EV) battery dispute.The Georgia State Senate unanimously passed a resolution on March 23 (local time) urging the two Korean companies
SK Innovation reacted strongly on March 16 to LG Energy Solution’s attempt to expand its presence in the U.S. electric vehicle (EV) battery market by taking advantage of the recent U.S. International Trade Commission’s ruling.The ITC ruled last month that SK Innovation misappropriated EV battery tra
Some lawmakers from Georgia and Tennessee of the United States have sent a letter to LG Energy Solutions and SK Innovation to urge the two Korean electric vehicle battery manufacturers to settle their dispute over trade secret infringement.The letter was sent by three U.S. representatives – Republic
North Gyeongsang Province once drove the growth of South Korea’s key industries, including the electronics and steelmaking industries. But it lost much of its past glory and has in recent years been seeking to recreate itself as a prosperous region with a powerful industrial base. Early this year, G
Maryland Governor Larry Hogan said that he received COVID-19 diagnostic kits for 500,000 tests from South Korea and expressed his gratitude on April 20.Before the delivery, the number of tests in that state stood at 70,000 or so. The kits arrived at the Baltimore/Washington International Airport on
The fourth edition of the Winter Youth Olympic Games (YOG) 2024 will be held in South Korea’s Gangwon Province in the cities of PyeongChang and Gangneung, home to the Olympic Winter Games 2019, the International Olympic Committee announced in Lausanne, Switzerland, on Jan. 10 (local time).The IOC vo
Korea has renewed a US$54 billion currency swap deal with the United Arab Emirates (UAE).The Bank of Korea (BOK) announced on April 14 that BOK Gov. Lee Joo-yeol and Al Mansoori, governor of the Central Bank of the United Arab Emirates (UAE), signed the won-dirham currency swap agreement at the Inte
North Gyeongsang Province is one of the most dynamic regions in South Korea. The province’s gross regional domestic product (GRDP) recorded 103 trillion won (US$91.2 billion) in 2017, the fifth largest among local governments in Korea. The province has a strong industrial base, especially in the IT,
Hyundai Merchant Marine (HMM) president Yoo Chang-keun and Daewoo Shipbuilding & Marine Engineering (DSME) president Chung Sung-rip expressed their intention to resign more than two years ahead of their tenure. At present, Korea Development Bank (KDB) is the largest shareholder in each of the compan
The Financial Supervisory Service (FSS) has embarked on an investigation into POSCO Engineering & Construction Co. (E&C) for alleged irregularities in overseas operations. This inquiry comes three months after Justice Party spokesperson Choo Hye-sun called for an FSS probe into dubious investments o
For Choi Moon-soon, governor of Gangwon Province, 2018 must be a memorable year. In February and March, he hosted the PyeongChang Olympic and Paralympic Winter Games, which significantly enhanced the global recognition of the host city and province. In the June local elections, the governor was re-e
The Bank of Korea has raised the benchmark interest rate by 0.25 percentage points to 1.75 percent, the first hike in a year since November last year.The central bank held a plenary session of the Monetary Policy Committee on Nov. 30 and announced that it would raise the benchmark interest rate from