As POSCO Holdings announced its first quarterly earnings under new Chairman Jang In-hwa, control of business development speeds by business division has become a hot topic.The company has set an investment budget of about 10.8 trillion won for this year, but the amount is likely to be reduced. The p
SK hynix achieved unexpectedly strong performance in the first quarter, surpassing market expectations.The company announced on April 25 that it recorded 12.43 trillion won (US$9.04 billion) in sales and 2.89 trillion won in operating profits, representing a 23 percent operating profit margin, and 1
SK hynix plans to invest 20 trillion won in Cheongju to expand its high-bandwidth memory (HBM) production capacity. This move is interpreted as an effort to maintain its leading position amid intensifying HBM competition.On April 24, SK hynix announced that its board of directors has approved the pr
Taiwan, a major hub for the world’s top semiconductor companies, has experienced a series of earthquakes, leading to temporary delays in semiconductor supply and potential price hikes.On April 23, the industry reported that over 50 aftershocks, ranging from magnitude 3.0 to 6.3, struck eastern Taiwa
The Federation of Korean Industries (FKI) will hold a seminar on “Global Economic Turbulence: Prospects and Implications for the World and Korean Economy” from 09:30 on Tuesday, April 30 at the FKI Tower Conference Center in Yeouido.The seminar is being held to assess the global economic impact of r
The collective net worth of Korea’s 50 Richest on the 2024 Forbes list rose slightly to US$115 billion from $106 billion, amid the country’s global chipmaking ambitions. The complete list can be found at www.forbes.com/korea, as well as in the April/May issue of Forbes Asia and the May issue of Forb
Anticipations are growing for the Korean shipbuilding industry’s entry into the U.S. warship maintenance, repair and overhaul (MRO) business as the U.S. Secretary of the Navy, who is in charge of the U.S. Navy’s weapons procurement and budget, has praised the capabilities of the Korean shipbuilding
The government plans to invest 500 billion won over the next five years in five additional specialized complexes for materials, parts, and equipment, aiming to develop them into core bases for the supply chain. Space, aerospace, defense, and hydrogen are newly added as strategic technology sectors,
The author, Hyungcho Chung, is the founder and CEO of Scomot -- Ed.We might think that data storage is something that has come about in the tech age of the past few decades. This simply isn’t the case. We have been storing data for centuries, allowing us to process information, keep records and comm
Samsung Display Executive Director Jung Seok-woo announced plans to expedite the production of RGB-based micro OLEDs at the OLED Korea conference held at the K Hotel in Seoul on March 28.During his presentation on the Development Strategy for AR/VR in Future Displays, Jung emphasized the collaborati
Hyundai Motor Group announced on March 27 that it will hire 80,000 people and invest 68 trillion won in Korea over the next three years from this year to 2026. The plan is expected to create about 198,000 decent new jobs.The announced investment in Korea is a significant increase from the 56.2 trill
SG is a leading domestic asphalt concrete maker. We expect to see: 1) significant improvement in public procurement orders following the end of regulations on SMEs; 2) market share expansion for the firm’s ecosteel asphalt concrete; and 3) benefits for the newly established Ukrainian subsidiary afte
On March 15, Chong Kun Dang announced that as part of the Harvard Business School's 'Korea Trek 2024' program, 55 students visited its headquarters on March 13th.The Harvard Business School Korea Trek is a training program that introduces students to Korean culture, society, industry, and history. I
Top executives of LG’s major affiliates visited the headquarters of Mercedes-Benz in Germany. A lot of attention is being paid to whether or not the visit will lead to further cooperation between LG and Mercedes-Benz in the automotive electronics business.Top executives of LG’s major affiliates in t
On March 13, the U.S. House of Representatives passed a bill to ban TikTok, a Chinese video platform, from being downloaded in the United States due to security concerns. The bill was approved with an overwhelming majority of 352 votes in favor and 65 against. Europe is also engulfed in national sec
Hyundai Motor Group Chairman Chung Eui-sun met with Arkansas Governor Sarah Huckabee Sanders, a close confidant of former President Trump.According to industry reports on March 12, Chung met with Sanders during her visit to Korea and discussed possible cooperation between the two sides. He was accom
Even after surpassing the “psychological resistance level” of 100 million won, bitcoin continues its upward trend in the domestic market.In particular, a phenomenon known as the “kimchi premium” is observed, where the price of bitcoin in the domestic market is forming higher than that in the U.S. ma
A medical waste treatment system, which is capable of 99.9999 percent sterilization by using high-temperature and high-pressure steam, has been developed for the first time in the country.The Korea Institute of Machinery and Materials (President Seog-Hyeon Ryu, hereinafter referred to as KIMM), an i
LG Chem, Korea’s largest petrochemical company, will shut down its styrene monomer (SM) plant at the end of March. SM is widely used in the manufacture of various petrochemical products. The company is also reportedly considering abandoning production of ethylene oxide (EO) and ethylene glycol (EG),
Despite a slowdown in electric vehicle (EV) demand, Panasonic, a Japanese battery company, is considering further investment in its De Soto, Kansas, factory in the United States to increase production capacity for the 4680 cylindrical battery, which has five times the energy capacity of existing bat