HD Hyundai Shipbuilding & Offshore Engineering (HSOE) announced on March 6 that it has founded the Nuclear Energy Maritime Organization (NEMO) with leading global nuclear energy organizations.NEMO, which has its secretariat in London of the United Kingdom, will work with the International Maritime O
The Korea Fair Trade Commission (KFTC) conducted an on-site investigation into AliExpress, the shopping platform of the Chinese Alibaba Group, which is suspected of violating consumer protection obligations.According to industry sources on March 6, the KFTC recently sent investigators to the Seoul o
Taihan Cable & Solution Co. announced on March 6 that it is set to supply a high-voltage power grid worth approximately US$38 million to the global infrastructure group Balfour Beatty.This project involves the construction of a new 132 kV high-voltage power grid in the northern region of the U.K. It
STX Corporation, a global trade and development company, is expanding its presence in the Middle East by successfully completing its second transaction to Iraq through its business-to-business (B2B) platform “TrollyGo.” With a significant monthly increase in users in the Middle East region, there ar
NPCore, a cybersecurity company specializing in network and endpoint security, recently conducted a cybersecurity workshop in Kuala Lumpur, Malaysia, in collaboration with its local partner, TechLab. The event, held on February 29th, was particularly timely, given the recent spate of cyber threats i
Seoul Semiconductor announced on March 5 that it has filed a patent lawsuit against global retailer Amazon in the Unified Patent Court in Europe seeking a ban on the sale of infringing products.Seoul Semiconductor and its affiliates have obtained 15 injunctions against infringing manufacturers and s
Samsung Electronics has refuted its labor union’s claim that many of its workers suffer from mental health problems such as sleep disorders and depression.In its online newsroom on March 4, Samsung Electronics claimed that the labor union’s claims regarding a report on a survey on the status of labo
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
SK Bioscience announced on March 5 that its SKON employee communication application developed by the company won the communication category in the apps and software section at the iF Design Award 2024 held in Germany.This year, the iF Design Award saw competition from over 11,000 entries from 56 cou
It has been confirmed that recent complaints from domestic consumers using China’s Alibaba shopping platform AliExpress have sharply increased.According to the response data on “the status of consumer consultations related to AliExpress-related complaints and damage compensation” received by the off
The domestic defense industry has gained new momentum through the revision of the Export-Import Bank of Korea (Korea Eximbank) Act. It is expected to accelerate towards achieving the goal of US$20 billion in defense exports this year.On Feb. 29, a bill to amend the Korea Eximbank Act, which increase
Miky Lee, vice chairwoman of CJ Group, has been recognized as a visionary influencing Hollywood in the United States.According to CJ ENM on March 5, Vice Chairwoman Lee was featured in the special edition “2024 Hollywood Issue” of the prestigious American entertainment magazine Vanity Fair.Since 199
SeAH Holdings announced on March 5 that it was selected as one of the Most Ethical Companies in the World for 2024 by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This marks the first time a South Korean company has achieved this recognition. Sin
Last quarter, the global semiconductor industry witnessed a nearly 30% increase in DRAM revenue compared to the previous quarter. According to TrendForce, a market research firm based in Taiwan, on March 5, global DRAM revenue reached US$17.46 billion in the fourth quarter, marking a 29.6% growth fr
The Ministry of Trade, Industry and Energy announced this year it will invest a total of 1.141 trillion won in research and development (R&D) for materials and components technology, focusing on creating a significant lead in advanced industries, stabilizing supply chains, and achieving carbon neutr
The former chief technology officer (CTO) of Kakao Bank, who sparked controversy by exercising stock options worth some 7 billion won (US$5.25 million) immediately after Kakao Bank’s listing, has been nominated as the new CTO of Kakao.According to the IT industry on March 4, it has been reported tha
Since the beginning of this year, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has achieved over 50 percent of its 2024 annual order target within just two months.HD KSOE announced on March 4 that it had signed construction contracts for two medium-sized liquefied petroleum gas (LPG) carri
Hanwha Foodtech, which is led by Hanwha Hotel & Resort Vice President Kim Dong-seon, the third son of Hanwha Group Chairman Kim Seung-youn, has acquired U.S.-based robot pizza brand “Stellar Pizza.”In January, Hanwha Foodtech signed a memorandum of understanding (MOU) with Serve Automation, the pare
Hanwha Ocean announced on March 4 that it signed a memorandum of agreement (MOA) to build 12 liquefied natural gas (LNG) carriers with a Middle Eastern shipping company.Hanwha Ocean did not disclose the client but it is believed to be Qatar Energy, the state-run energy company of Qatar.Qatar Energy
Kumho Tire inked a technology export agreement with Saudi Arabia’s Black Arrow Tire Company (Blatco) on Feb. 28.Through this agreement, Kumho Tire will provide Blatco with technology for production of passenger car tires sold in the Middle East, including Saudi Arabia, for 20 years.Blatco, a manufac