The Japanese government mentioned history disputes between South Korea and Japan after the presidential election in South Korea. “The two states’ joint efforts are essential for peace and prosperity, both regionally and globally,” Japanese Prime Minister Fumio Kishida said on March 10.According to J
Taihan Cable and Solution announced on March 10 that it will establish a joint venture in Saudi Arabia to produce ultra-high voltage cables.It is the first ultra-high voltage cable plant to be built overseas by Taihan Cable and Solution. The company has joined hands with Mohammed Al-Ojaimi Group, a
Hanwha Corp. signed a 984.6 billion won contract with the Ministry of Defense of Saudi Arabia on March 8 after Hanwha Defense signed a two trillion won contract with the government of Egypt last month to export K-9 howitzers. The item and the other specifics of the former contract are confidential.T
The United States banned crude oil imports from Russia on March 8. International oil prices are likely to keep rising for a while, and the South Korean economy is likely to take a hit. That day, the WTI price reached US$129.44 per barrel before closing at US$123.7, the highest since August 2008.Acco
POSCO Chemical will build a joint venture cathode material plant in Quebec, Canada, with General Motors (GM) of the United States.The two companies announced on March 8 that they are working with the governments of Canada and Quebec to build a new US$400-million facility in Becancour, Quebec, to pro
South Korean enterprises are being increasingly affected by the war in Ukraine, as the geopolitical risk and sanctions against Russia are leading to soaring raw material prices.The price of nickel per ton surged 44.28 percent to US$42,995 on March 8, when the price of aluminum per ton amounted to US
LG Energy Solution has obtained a patent license on cathode materials from CAMX Power, a U.S. battery material developer.The company will utilize CAMX's globally patented and already commercialized high-nickel cathode platform GEMX.The GEMX platform is one of the core intellectual property right
The prosecution forbade GM Korea president & CEO Kaher Kazem from leaving South Korea on March 3. He is currently in litigation regarding an illegal worker dispatch allegation and is scheduled to become an SAIC-GM vice president on June 1.The prosecution started investigations in 2019 and his overse
Hanmi Pharmaceutical’s osteoarthritis treatment injection Hyaluma went on sale in the United States on March 1.The Korean drugmaker announced on March 7 that it has started selling Hyaluma throughout the United States in partnership with Arthrex, a global medical device company.Athrex distributes ro
SeAH Besteel announced on March 7 that it will supply three spent nuclear fuel transport and storage containers to Orano TN in the United States. The company took an order for 17 spent nuclear fuel transport and storage containers from the U.S. company in September 2019.Spent nuclear fuel transport
South Korean defense companies’ stock prices are rising fast after the outbreak of the war in Ukraine. For example, from Feb. 24 to March 4, those of LIG Nex1, Korea Aerospace Industries, Hanwha Aerospace and Hanwha Systems jumped 21.7 percent, 16.5 percent, 20.8 percent and 11.6 percent, respective
The South Korean government announced on March 7 that it would halt all transactions with the sovereign wealth fund and the central bank of Russia starting from March 8.Earlier, the European Union excluded seven Russian banks, including Rossiya Bank, from SWIFT on March 2. Rossiya Bank was not on th
Japanese electric vehicle battery manufacturers are expanding their facilities in the United States.News outlets reported that Panasonic is purchasing land in Kansas and Oklahoma in order to produce more 4680 batteries to be supplied to Tesla. The investment is estimated at billions of dollars and t
Roscosmos announced on March 4 that it sent its Soyuz rocket on a launch pad at the Baikonur Cosmodrome in Kazakhstan back to the assembly building.The rocket was supposed to be launched that day with 36 space Internet satellites of OneWeb. “The satellites will be launched only if those are not used
The U.S. government exempted South Korea from the implementation of the Foreign Direct Product Rule (FDPR) against Russia and the South Korean government is expanding its Russia-related export restrictions in response. South Korean enterprises welcomed the news while saying that uncertainties still
.South Korean enterprises are in a serious dilemma amid a new Cold War between China and Russia on the one hand and the United States and its allies on the other. For the past 20 years, the South Korean government has maintained a strategic ambiguity to minimize damage to those enterprises. Now, how
Hyundai Engineering has signed a contract with Encina, a renewable products technology developer in the United States, to provide front end engineering design (FEED) for a plastic waste recycling plant in the United States.The company is likely to win the main engineering, procurement, and construct
Taihan Cable & Solution announced on March 3 that its U.S. subsidiary T.E. USA has additionally won a 60-billion-won ultra-high-voltage power grid supply project in California.This project involves building a 230kV underground power grid to link large offshore wind power generation complexes and pow
The European Union announced on March 2 that it has excluded seven Russian banks from SWIFT. Every activity of the seven banks is scheduled to be blocked starting from March 12. The seven banks do not include Sberbank and Gazprombank, which are major Russian banks related to energy transactions.Sber
Samsung Electronics’ presence In the global mobile application processor (AP) market is decreasing amid a two-way race between Taiwan’s MediaTek and Qualcomm of the United States.Samsung Electronics’ market share stood at only 4 percent in the fourth quarter of 2021, said market research firm Counte