Samsung Electronics and SK hynix are making strides in commercializing “On-sensor AI” technology for image sensors, aiming to elevate their image sensor technologies centered around AI and challenge the market leader, Japan’s Sony, in dominating the next-generation market.At the “SK Tech Summit 2023
The National Tax Service (NTS) announced on Dec. 28 that it has collected 1.35 trillion won (US$1.05 billion) in tax assessments in the area of overseas tax evasion alone through tax investigations conducted this year. The figure exceeds the average annual collection for the three years before the C
Last month witnessed a turnaround in domestic production and consumption with an increase, while investments declined for the second consecutive month.According to the “Industrial Activity Trends for November 2023” report released by Statistics Korea on Dec. 28, overall industrial production, exclud
Shinhan Card announced on Dec. 28 that Shinhan Finance, its subsidiary in Kazakhstan, will receive a joint investment of approximately 31 billion won over the next five years following the completion of a partnership agreement with Aster, a top-tier automotive dealer in Kazakhstan.The agreement enab
South Korea’s exports will fall by 10% if the world’s major economies split into two groups and strengthen trade barriers against each other, according to a report. However, if Korea promotes export diversification, it will be able to significantly reduce adverse effects.According to the Bank of Kor
The Supreme Court’s ruling that it is not illegal to have employees work more than 52 hours in a week, regardless of the number of hours worked per day, is expected to allow small and medium-sized enterprises (SMEs) to make their working hours more flexible and cut labor costs.On Dec. 25, the Suprem
As a consequence of the aftermath of the Russia-Ukraine war, Samsung Heavy Industries has suspended the production of blocks and components for 10 out of 15 liquefied natural gas (LNG) carriers contracted with a Russian shipyard. This move aligns with the international community’s collaborative effo
Taihan Cable & Solution announced on Dec. 26 that it has secured an order for a 380 kilovolt (kV) high-voltage power grid project from Germany’s TenneT. The contract is valued at 60 billion won (US$46.28 million).The project involves the construction of a 380 kV underground cable network to expand t
Harim Group, selected as the preferred bidder for the acquisition of HMM, announced in its official statement on Dec. 26 that it intends to utilize HMM’s cash reserves, or retained earnings, to enhance global competitiveness.In the statement, Harim Group emphasized, “The cash assets held by HMM shou
The rivalry in the advanced 2-nanometer (nm) semiconductor process among leading chipmakers from South Korea, Taiwan, and the United States is expected to intensify next year.According to industry reports on Dec. 25, global foundry leaders – Taiwan’s TSMC (first in the industry), South Korea’s Samsu
Samsung Electronics has postponed the start of mass production at its new semiconductor factory in Taylor, Texas, to the year after next. Initially, mass production was expected to begin by next year. The delay is speculated to be due to issues related to U.S. government subsidies and various permit
Samsung Heavy Industries (SHI) and Hanwha Ocean, two of the three major Korean shipbuilders along with HD Korea Shipbuilding & Offshore Engineering (KSOE), are expected to fail to meet their annual order targets set earlier this year by the end of December.According to sources in the shipbuilding in
Leading defense industry companies in South Korea, including Hanwha Aerospace, Korea Aerospace Industries (KAI), LIG Nex1, Hyundai Rotem, and Hanwha Ocean, have hit “contract jackpots” in countries like Poland and Australia, marking a significant shift for South Korea from a defense equipment import
According to the International Contractors Association of Korea (ICAK) on Dec. 25, the total value of construction contracts in the Middle East, including Saudi Arabia and the United Arab Emirates (UAE), has reached US$8.38 billion from the beginning of the year to the end of November this year, mar
SK ecoplant is positioning itself as a domestic powerhouse in offshore wind power, one of the most prominent eco-friendly energy business alongside the solar power business. SK ecoplant is jointly developing an offshore wind power ocean energy project. The project is to build floating and fixed offs
Dong-A Socio Group’s specialty drug affiliate, Dong-A ST, will enter the ADC market through the acquisition of an antibody-drug conjugate (ADC) linker platform company. ADCs are a treatment that combines an antibody that combines a target antigen with a cytotoxic drug as a linker and is known for it
In the future, cryptocurrency issuing companies will no longer be able to arbitrarily recognize profits or assets.The Securities and Futures Commission (SFC) under the Financial Services Commission (FSC) announced on Dec. 21 that it had passed the “Supervisory Guidelines for Accounting Treatment of
Following the spread of COVID-19, North Korea’s real gross domestic product (GDP) has experienced three consecutive years of negative growth, leading to a widening income gap of up to 30 times per capita between North and South Korea. Last year, North Korea’s population was approximately half the si
As Kakao Corporation and its executives face trial over allegations of stock manipulation involving SM Entertainment, controversy arises within Kakao Pay, a subsidiary that has been pursuing the acquisition of management rights of Siebert Financial, a U.S.-based securities firm, since the beginning
POSCO International is rapidly transforming into an eco-friendly comprehensive business company and a business platform provider.POSCO International announced on Dec. 19 that, in its first year since the merger with POSCO Energy, it has successfully established three major business value chains -- e