COVID-19 self-test kit exports from South Korea are increasing again with regard to the omicron variant spreading worldwide.This month, SD BioSensor signed large-scale contracts with the United States and Singapore. Specifically, the contracts total 136.9 billion won and the supply to Singapore is i
The United States has made clear its intention to reorganize the semiconductor manufacturing ecosystem around the United States. U.S. President Joe Biden and Intel CEO Pet Gelsinger announced on Jan. 21 (U.S. local time) that Intel will invest US$20 billion to build two semiconductor production plan
The Ministry of Economy and Finance announced on Jan. 23 that it has paid Iran’s U.N. contributions using Iran’s frozen funds in South Korea.The payment of US$18 million was completed on Jan. 21 after Iran’s request on Jan. 13. Iran lost its voting right in the U.N. General Assembly on Jan. 12 for a
The Ministry of Science and ICT, SK Telecom, KT and LG U+ are planning to come up with a dedicated line-based quantum cryptography communication business model this month so that enterprises and institutions can apply quantum cryptography to their information and communication networks using quantum
Samsung Electronics is expanding its presence in the global 5G equipment market. Following the start of 5G services in the United Kingdom, Samsung’s 5G network business is expected to gain momentum with the launch of 5G services in the United States.Vodafone’s British subsidiary launched the first c
Major Korean companies are on alert as the White House has told the U.S. semiconductor industry to be ready for new restrictions on exports to Russia if Moscow invades Ukraine.The U.S. National Security Council (NSC) told executives of the U.S. Semiconductor Industry Association (SIA) to be ready fo
Hanmi Pharmaceutical announced on Jan. 20 that it will speed up the production of a generic version of Merck & Co.'s COVID-19 pill, molnupiravir (product name: Lagevrio), for supply to 105 low- and middle-income countries.Hanmi Pharmaceutical is one of the three Korean generic drug manufacturers
YouTube launched annual subscription plans for YouTube Premium and YouTube Music Premium users on Jan. 19. The prices are US$107.99 and US$89.99, respectively. For reference, the monthly subscription fees are US$12 and US$10, respectively.The plans were launched in the United States, Canada, Mexico,
Samsung Electronics is speeding up research and development (R&D) of 3D DRAMs. The semiconductor giant has started to reinforce related organizations, such as recruiting personnel.In the past, DRAMs were produced by lining up transistors and capacitors on a plane. However, as DRAM capacity exceeded
KT announced on Jan. 18 that it has signed an agreement with Yandex Self Driving Group (SDG), an affiliate of Russia’s largest IT company Yandex, for business cooperation in AI, robots, and autonomous driving.The agreement was signed at the Yandex Autonomous Driving Improvement Center in Moscow, Rus
The United Arab Emirates (UAE) is accelerating its hydrogen economy development by utilizing the Barakah Nuclear Power Plant, which was built by South Korean companies, whereas the South Korean government is not planning on nuclear power-based hydrogen production.“We are considering utilizing nuclea
Hanwha Systems announced on Jan. 17 that it has inked a contract with the United Arab Emirates (UAE) to export multi-functional radars (MFRs) for the Cheongung-II medium-range surface-to-air missile (MSAM) systems. The contract is worth about US$1.1 billion.The MSAM system known as Cheongung is an i
LIG Nex1 announced on Jan. 17 that it has signed a contract to export 2.6 trillion won worth of the Cheongung II mid-range surface-to-air guided weapon systems to the United Arab Emirates (UAE).The Cheongung II is a medium-range and medium-sized surface-to-air intercept system developed with Korean
The top four South Korean business groups are focusing on mutual cooperation rather than competition. This trend is particularly conspicuous in the automotive industry with regard to future car development.When it comes to those such as electric vehicles, it is not easy for a single automaker to cov
Sisley-L, a global artist and NFT expert who became famous by winning the highest bid for a young artist at a Christie's auction, is attending one of the world's top 3 art shows, the LA ART Show. In the past, she attended an invitational exhibition at SAATCHI Gallery, London, with which worl
Foreign game companies are increasingly copying South Korean companies’ games and the South Korean government is doing nothing, according to those in the industry.At present, Krafton USA and Singapore-based Garena are in litigation over the former’s PUBG: Battlegrounds. Apple and Google are also inv
An increasing number of South Korean startups are relocating their headquarters overseas and turning their organizations in South Korea into subsidiaries. Coupang accelerated this trend last year by going public in New York instead of South Korea, and Riiid is planning to do the same.In fact, this h
The U.S. Semiconductor Industry Association said in its recent report that Chinese companies’ share in the global semiconductor market is likely to rise from 9 percent to 17 percent from 2020 to 2024. “The scale of the Chinese semiconductor sector is estimated to reach US$116 billion in 2024 by show
Apple Korea’s sales amounted to approximately seven trillion won and its corporate tax payment was 31.3 billion won last year, when it sent 873 billion won, more than 700 percent of its net profit, to its U.S. parent company. For reference, Google Korea’s sales were 220.1 billion won last year, the
The Ministry of Trade, Industry and Energy announced on Jan. 12 that the three major South Korean electric vehicle battery manufacturers are scheduled to participate in 85 percent of the large-scale battery manufacturing facility construction projects scheduled for 2022 to 2025 in the United States