Eco-friendly car exports, including hybrid, electric, and hydrogen vehicles, recorded US$18 billion in the first nine months of this year, outpacing the total eco-friendly car exports of US$16.1 billion in the previous year.According to a “September 2023 Automotive Industry Trends” report released b
South Korea’s major government-run banks and commercial banks, including the Korea Development Bank, the Export-Import Bank of Korea, Kookmin Bank, and Woori Bank, are planning to provide multi-million-dollar loans for Hanwha Group’s 24 trillion won (US$17.71 billion) investment in a U.S. liquefied
Refiners are shifting their business focus from refining margins to biofuels. They are looking to grow their eco-friendly biofuel business, as the use of biofuels may rise in order to reduce carbon in line with a global low-carbon agenda.According to industry sources on Oct. 17, the European Union (
SK pharmteco will participate at the CPHI 2023 in Barcelona and prepare a dedicated booth at the event. As a multi-modality CDMO with expertise in small molecule active pharmaceutical ingredients (APIs) and biopharmaceuticals, SK pharmteco aims to present its business competitiveness and actively pu
It has been revealed that the amounts of fines and penalties imposed on domestic commercial banks in foreign countries have increased by 180 times in just three years.Based on the data obtained by Kim Jong-min, a member of the opposing Democratic Party, from the Financial Supervisory Service, fines
South Korean defense industry firms have entered into a second-stage weapons export contract with Poland worth 30 trillion won (US$22.12 billion). This would elevate South Korea to the fourth-largest defense industry exporter worldwide in one go. However, the finalization of the contract, which was
According to industry sources on Oct. 17, SK hynix recently collaborated with the data processing platform company HazelCast to publish a white paper on the application of Compute Express Link (CXL) technology.SK hynix has revealed empirical results indicating that by using the next-generation CXL m
As the global aviation industry accelerates its efforts to introduce Sustainable Aviation Fuels (SAF) for carbon emission reduction, it appears that no South Korean airport has made it onto the list of “SAF-supplying Airports” designated by the International Civil Aviation Organization (ICAO). Conce
Just last month, a substantial amount of approximately 11 trillion won (US$8.14 billion) in Korean won was withdrawn from the U.S. dollar deposits of the top five domestic commercial banks. It is analyzed that people exchanged dollars for won to capitalize on exchange rate differentials with the won
The Korea International Trade Association (KITA) announced on Oct. 16 that it held a Rebuild Ukraine Business Dialogue in Warsaw, Poland, in collaboration with the Ukrainian Chamber of Commerce and Industry and the Korea-Ukraine New Building Association (KUNBA).The event was held to discuss ways to
Airbus SE has once again emphasized its commitment to establishing a Research and Development (R&D) center in South Korea. It has been confirmed that the aerospace giant plans to supply over 60 aircraft to domestic airlines in the near future.Speaking at a press conference on Oct. 16 at the Lotte Ho
Korea Shipbuilding & Offshore Engineering announced on Oct. 16 that it has decided to equip two 45,000㎥ medium-sized LPG carriers, which the Belgian shipping company Exmar had ordered in March, with ammonia dual-fuel engines.The ammonia-propelled LPG carriers, with dimensions of 190 m in length, 30.
The North Gyeongsang Province Government announced on Oct. 15 that a North Gyeongsang Province economic mission to the United States, including Governor Lee Chul-woo, visited the headquarters of Overair, an urban air mobility (UAM) company based in California, on Oct. 13 (local time).The economic de
Korea Hydro & Nuclear Power (KHNP) inked a consortium agreement on Oct. 12 with Romania’s nuclear agency, SNN, based in Bucharest, along with Canada’s Candu Energy and Italy’s Ansaldo Nucleare, to collaboratively undertake the equipment improvement project for Romania’s Cernavoda Unit 1.The project,
KT has set its sights on extending the wireless quantum encrypted communication data transmission range from the current 2 km to 10 km by next year. Achieving lossless data exchange up to a distance of 10 km, from the ground to the stratosphere, could significantly reduce the potential hacking threa
Huawei kicked off the 14th Global Mobile Broadband Forum in Dubai, UAE. Li Peng, Huawei's President of Carrier BG, delivered a keynote at the event. In his speech, Li called on global carriers and industry partners to rise to the occasion, address increasing demands on networks, and make the most of
Semiconductor equipment companies are accelerating their research and development (R&D) efforts in tandem with the commercialization of equipment for High Bandwidth Memory (HBM) processes, which is a next-generation memory semiconductor.According to industry sources on Oct. 11, Hanmi Semiconductor r
On Oct. 11, Hyundai Rotem announced that it had received a pamphlet from the local government of Ukraine, expressing gratitude for the pivotal role their railway vehicles played in safely evacuating war refugees.The top right of the pamphlet reads, “Hyundai trains became one of the lifelines for Ukr
As the U.S. marks one year since the implementation of the Inflation Reduction Act (IRA), sales of eco-friendly South Korean cars in the U.S. have reached an all-time high, securing the industry’s second-highest market share. This development contrasts sharply with concerns raised last August that K
The U.S. Congressional Research Service (CRS) has pointed out that the U.S. sanctions on 28-nm semiconductors have a strategic hole. There are also reports that large U.S. semiconductor manufacturers are lukewarm about cooperating with U.S. authorities, giving the United States unexpected difficulti