SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the updated COVID-19 vaccine (NVX-CoV2601) developed by Novavax, a global company advancing protein-based vaccines with its Matrix-M™ adjuvant, has received an emergen
South Korean shipbuilding companies are actively considering the construction of overseas production bases to address a shortage of manpower. However, some are raising concerns about potential “technology leakage” arising from the construction of overseas shipyards.According to industry sources on N
JW Holdings has commenced the full-scale export of “WINUF Central 736-1085 ml,” a three-chamber comprehensive nutritional fluid product, to Asia Pharma LLC in Mongolia, as announced on Nov. 28.JW Holdings, overseeing JW Group’s global operations, had previously secured an exclusive supply contract f
On Nov. 27, Incheon Free Economic Zone Authority (IFEZ) announced that a delegation of 11 researchers, including Professor Han Nam-sik, AI Center Director at the Milner Research Institute affiliated with the University of Cambridge, and Senior Researcher Georgia Sakkoziorga visited IFEZ. They toured
In 2024, 165,000 foreign workers will enter Korea on non-professional work visas (E-9). This will be the highest number ever. The industries they can work in will also be expanded to include restaurants, mining and forestry.The Ministry of Employment and Labor announced the decision in a meeting of
Coway Co., Ltd., the “Best Life Solution Company,” announced today that its Seoul-based R&D Center, the Coway Environmental Technology Research Institute, has been recognized as an international testing laboratory by the Korea Laboratory Accreditation Scheme (KOLAS) for the 22nd consecutive year.The
The number of venture companies with annual revenue exceeding 100 billion won (US$76.8 million) last year reached the record high of 869, the highest figure in history. The growth rate also set a new record, achieving an unprecedented 17.6 percent increase, or 130 companies, compared to the previous
Korean railroad companies such as Korea National Railway, KORAIL and Hyundai Rotem will participate in a Ukrainian railway reconstruction project in earnest.The Korean Ministry of Land, Infrastructure, and Transport, Korea National Railway and KORAIL announced on Nov. 22 that they formed the Railway
With Chinese authorities set to begin controlling graphite exports, a key raw material for anode materials for batteries, in December, they held an event with Korean companies only to explain how they will enforce their export control policy.This was the first time China, which has played the weapon
This year marks the first time that the number of countries importing Korean kimchi has surpassed 90. The global popularity of Korean kimchi, often attributed to the Hallyu wave and health trends such as vegetarianism, is leading the way in showcasing K-food on the international stage.According to t
The average wages of employees belonging to the “Big 3” shipyards in South Korea -- HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean -- have increased by approximately 15% in the past year. Particularly noteworthy is Hanwha Ocean, where the average wage surged by around 12 mil
K.S.PEARL, a cosmetic ingredient specialist company established in 1986, has been supplying innovative and safe cosmetic ingredients and stands shoulder to shoulder with global material companies. Recently, K.S.PEARL has attracted the attention of the industry.This attention comes as K.S.PEARL succe
As a result of President Yoon Suk-yeol’s visit to the United States for the Asia-Pacific Economic Cooperation (APEC) summit, four American companies, including General Motors (GM) and DuPont, have decided to invest a total of US$1.16 billion in South Korea.The Ministry of Trade, Industry, and Energy
Hyundai Engineering announced on Nov. 16 that it participated in the 2023 Rebuild Ukraine Exposition, held in Warsaw, Poland, from Nov. 14 to 15, and signed two memoranda of understanding (MOUs) for cooperation in “Modular Construction Projects” and “Fertilizer and Chemical Business.”Hosted by Ukrai
SK Geo Centric breaks ground on the world’s first integrated waste plastic recycling complex in Ulsan, opening a new chapter for South Korea’s circular economy. This world’s first factory is expected to enhance South Korea’s capabilities in tackling domestic environmental issues related to plastics
Korean researchers have developed a world-class ruthenium (Ru) catalyst for ammonia decomposition that will accelerate production of clean hydrogen by extracting hydrogen from ammonia, the key to the hydrogen economy quickly and in large quantities. Above all, the world does not have a commercial pr
Seven key areas have been proposed to lead Korea’s future in 2040. On Nov. 14, the National Academy of Engineering of Korea (NAEK) hosted the Industrial Strategy for Tomorrow (IS4T) Forum at Josun Palace Hotel to share the results of its research on global future scenarios about 2040 and Korea’s res
According to the Korean Ministry of Strategy and Finance on Nov. 14, Korea’s overseas direct investment (ODI) totaled US$15.31 billion from the first quarter to the second quarter of 2023. The amount was 22.9 percent lower than US$19.84 billion a year ago. The decline was the largest in 14 years sin
The Ministry of Trade, Industry and Energy announced on Nov. 14 that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$17.06 billion, while imports recorded US$12.61 billion, resulting in a provisional trade surplus of US$4.44 billion.Notably, the incre