The South Korean government is planning to apply zero tariffs to battery materials this year. At the same time, the Chinese government is planning to remove its subsidies for electric vehicles made in China in stages. Under the circumstances, South Korean battery manufacturers’ competitiveness is ex
SK Group's three information and communication technology (ICT) affiliates -- SK Square, SK Telecom, and SK Hynix -- have formed a “consultative body” to strengthen their global businesses. The three companies plan to set up an investment fund worth one trillion won to invest in semiconductors,
SK Innovation, GS Caltex, S-Oil and Hyundai Oilbank imported 112.3 million barrels of crude oil from the United States last year, up 10 percent from a year ago. As a result, South Korea became the biggest U.S. crude oil importer in Asia last year.South Korea’s crude oil import from the United States
SK Group has entered the U.S. cell and gene therapy (CGT) contract development and manufacturing organization (CDMO) market. It has entered both the European and U.S. CGT CDMO markets.SK Inc., the group's holding company, announced on Jan. 9 that it has become the second-largest shareholder of C
Samsung Electronics’ quantum dot (QD)-organic light emitting diode (OLED) TV has nabbed the Best of Innovation award at CES 2022, which kicks off in Las Vegas of the United States on Jan. 5 (local time). Samsung Electronics has decided not to display the product at this year's CES, but industry
Orion Corp., Korea's leading confectionery company, has put a halt to production of potato chips due to difficulties in securing potatoes.The U.S. state of Idaho, the world’s largest potato producing region, suffered a big drop in its potato harvest due to abnormal high temperatures caused by cl
KGC Ginseng Corp. (KGC) has released a world map of best-selling CheongKwanJang Red Ginseng products by country.China takes the lion’s share in the overseas red ginseng market. Like Korea, China has a Lunar New Year culture, so ginseng sales in January and February exceed more than 20 percent of ann
Daewoong Pharmaceutical's operating profit in 2021 is estimated to have soared five times from the previous year. The profit growth was driven by increased exports of Nabota and a licensing-out deal for a treatment for gastroesophageal reflux disease.Securities companies estimate Daewoong Pharma
Samsung Electronics is aiming to mass-produce 3-nm semiconductors in June to overtake TSMC. A Taiwanese media outlet forecast that Samsung Electronics and TSMC will have a big match in the 2-nm process in 2025.Taiwan's IT media outlet DigiTimes reported on Jan. 4 that TSMC, the world's large
Coway Co. unveiled its latest environmental home appliance innovations at the Consumer Electronics Show (CES) 2022 on Jan. 5.The company exhibited its latest innovations in mattresses, water purifiers, air purifiers, and bidets.To engage with more people worldwide, Coway is featuring exhibited produ
The net assets of Mirae Asset TIGER U.S. Philadelphia Semiconductor Sector NASDAQ ETF crossed 1 trillion won on Dec. 29, 2021, Mirae Asset Management announced on Jan. 4.The company explained that it is the largest semiconductor-themed exchange-traded fund (ETF) listed on the Korea Exchange.Accordin
Hyundai Motor Group’s growth in the U.S. market is accelerating, led by Genesis, green and recreational vehicles.The group’s current annual sales record in the U.S. market is 1,422,603, which was recorded in 2016. In the United States, it sold 1,275,223 cars in 2017, 1,267,619 in 2018, 1,325,345 in
Samsung Electronics is flexibly operating the production lines of its semiconductor plant in Xian, China as the lockdown of the city is prolonged.The company said that it is taking steps to ensure that a prolonged lockdown of Xian does not disrupt its services to customers. It said its measures incl
Osstem Implant, South Korea's top dental implant manufacturer, announced on Jan. 3 that it has sued its employee, identified by his surname Lee, for embezzlement. The estimated amount of the embezzlement is 188 billion won, which amounts to 91.81 percent of the company’s equity capital of 284.7
The Ministry of Science and ICT said that 5G services in South Korea do not affect aviation safety.Earlier, it was reported in the United States that C-band 5G services to be launched soon may cause aircraft altimeter malfunction. Regarding this point, the ministry explained that the United States a
Samsung Electronics and SK Group are set to make large-scale investments to expand their system semiconductor business.Samsung Electronics broke ground for Line 3 (P3) at its Pyeongtaek Campus in Gyeonggi Province in April 2021. The P3 plant, scheduled to be completed in the second half of 2023, wil
South Korea’s annual exports hit an all-time high of US$644.54 billion last year, with a year-on-year growth of 25.8 percent. In 2021, its annual imports exceeded US$600 billion for the first time in history and its annual trade value hit an all-time high of US$1.2596 trillion.The Ministry of Trade,
South Korea is selling mines without prudence, while the importance of the electric vehicle battery industry is continuing to increase and China is strengthening its mineral supply chains.The Korea Resources Corp. is planning to sell its 33 percent stake at the Ambatovy nickel mine in Madagascar. Th
The Korea Customs Service announced on Dec. 30 that 13,076,000 South Koreans conducted overseas direct purchase at least once between January and November this year.According to it, those in their 40s account for 32.3 percent of them, followed by 30s (30.5 percent), 50s (15.6 percent) and 20s (14.7
Samsung SDI took the wraps off its battery brand PRiMX on Dec. 29. The battery maker aims to further boost the image of its batteries through the branding strategy.Samsung SDI is the industry's first player to adopt a branding strategy. The company has completed the registration of its trademark