Coupang is making a significant entry into the 500-trillion-won luxury market by acquiring Farfetch, the world’s largest luxury platform. Farfetch boasts a collection of 1,400 luxury brands, including Chanel and Hermes, catering to global consumers in 190 countries such as the United States and the
Samsung Electronics and Naver have unveiled their jointly developed artificial intelligence (AI) semiconductor, which has been in development over the past year. Known for its power efficiency being approximately eight times greater than chips from competitors like Nvidia, this product is expected t
Warburg Pincus, the oldest private equity firm and a leading global growth investor, today announced that, through its Warburg Pincus Asia Real Estate Fund (“WPARE”), it will establish a logistics and industrial real estate joint venture - QUBE Industrial with MQ Logistics (“MQ”), one of South Korea
To defend the leadership of Cho Hyun-bum, the chairman of Hankook & Company, the holding company of Hankook Tire, his father, Cho Yang-rae, the honorary chairman, has stepped forward as a “white knight,” acquiring an additional 0.32 percent stake in the company. Hyosung Advanced Materials, led by Ch
In the Chinese display industry, leading companies BOE and TCL CSOT are ramping up their investments in Organic Light Emitting Diode (OLED) panels, a domain traditionally dominated by Korean firms, especially in the sectors of laptops and tablets. The move has raised alarms in the industry.On Dec. 1
As the automotive industry shifts its focus from hardware to software, South Korean companies are accelerating their drive towards Software-defined Vehicles (SDVs). SDVs are cars controlled and managed by software. Domestic car and parts manufacturers are actively developing solutions and preparing
Doosan Robotics announced on Dec. 14 that it signed a memorandum of understanding (MOU) on Dec. 13 (local time) with Schiphol International Airport in the Netherlands and the Danish company Cobot Lift for the supply of the Schiphol International Airport Collaborative Robot Luggage Handling System.Do
Samsung Electronics and SK hynix are set to gain from synergy with American Applied Materials (AMAT) and Lam Research following the Dutch company ASML establishing a Research and Development (R&D) center in South Korea, based on market share in the semiconductor equipment industry.According to the s
The government has set a goal to expand the K-Robot market to a scale of 20 trillion won by 2030 as the future growth engine. A combined investment of over 3 trillion won from both public and private sectors is planned with the objective of deploying one million robots across various industries, inc
With Cho Hyun-sik, the advisor of Hankook & Company and the eldest son of the tire maker’s honorary chairman, preparing to take over the leadership in collaboration with MBK Partners, Cho Yang-rae, the honorary chairman of Hankook & Company, is once again offering support to Chairman Cho Hyun-bum, t
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
Flitto (CEO Simon Lee, KOSDAQ 300080), a leading language data and translation service provider, announced on the 14th that it had discussions on plans to collaborate on AI technology with three emerging AI startups representing the ASEAN region at its Seoul headquarters on the 12th.The three ASEAN
LG Chem announced on Dec. 13 that it will hold a groundbreaking ceremony for the largest anode material factory in North America on Dec. 19 in Clarksville, Tennessee. This comes 13 months after signing a memorandum of understanding (MOU) with the state of Tennessee for the construction of the anode
Samsung Electronics and Dutch semiconductor equipment company ASML are set to invest a total of 700 million euros to build a future semiconductor technology research and development (R&D) center in South Korea. The center’s primary goal is to develop ultra-fine manufacturing processes and necessary
HD Hyundai Vice Chairman Chung Ki-sun met with the Saudi Arabian Minister of Industry and Mineral Resources to discuss strengthening business cooperation with Saudi Arabia.On Dec. 13, Vice Chairman Chung met with H.E. Bandar Ibrahim Alkhorayef, Saudi Minister of Industry and Mineral Resources, and H
Offshore plants, the main cause of the shipbuilding industry’s prolonged recession, are making a comeback. Demand for offshore plants is changing from oil to eco-friendly energy such as offshore wind power and liquefied natural gas (LNG). It is expected to become a new growth driver for Korean shipb
LS Group has signed a memorandum of understanding (MOU) with Saudi Arabia, the world’s leading oil exporter, for business cooperation and market entry.On Dec. 12, LS Group Chairman Koo Ja-eun met with Saudi Arabian Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef and CEO of the I
Answering AI startup 42Maru (CEO D.K Donghwan KIM) announced that it has signed agreements in the areas of Generative AI services and Hyper-scale AI during a state visit economic delegation to the United Kingdom.During President Yoon Suk Yeol's state visit to the United Kingdom from November 21st to
SK Group Chairman Chey Tae-won has not stopped his overseas business travels, going to the United States and Europe towards the end of the year in December.The SK chairman visited SK hynix America in San Jose and three affiliates and investors, including Gauss Labs and Lunar Energy, in the United St
Korean battery manufacturers are focusing on silicon anode materials as a key strategy to reduce dependence on Chinese graphite, a major weakness of K-batteries. This next-generation material is estimated to have an energy density about 10 times higher than the graphite-based anode materials current