EOFlow Co., a provider of wearable drug delivery solutions, announced on Dec. 8 that it has signed a contract with PT Prasasti Nusantara Sukses of Indonesia to supply 45.3 billion won worth of 'EOPatch,' a disposable and wearable insulin pump.The company said the contract amount represented
The U.S. Federal Trade Commission (FTC) has filed a suit against Nvidia to block its acquisition of Arm, a British semiconductor design company, saying the deal would stifle competition.“The FTC is suing to block the largest semiconductor chip merger in history to prevent a chip conglomerate from st
SK Group chairman Chey Tae-won said that his group has no plan to build a semiconductor manufacturing plant in the United States, adding, however, that it is studying preconditions for such an investment.The U.S. is a huge market but human resources and cost are problems, Chey said in an interview w
Competition in the electric vehicle (EV) battery market is narrowing to a two-runner race between Korea and China. While Korean battery makers are joining forces with U.S. automakers, Chinese battery companies are also bulking up based on subsidies and tax support from the Chinese government.The tot
The Korea Institute for International Economic Policy said in its recent report that more thorough supply chain risk management is required regarding South Korean industrial items highly dependent on Japan and more long-term efforts are required for source technology development and supply chain div
SK Group chairman Chey Tae-won met with Conni Jonsson, chairman of Swedish investment company EQT Partners AB, which is affiliated with the Wallenberg Family, on Dec. 3 and discussed ways to cooperate with each other.The Wallenberg Family is considered one of the world’s best business groups in the
A survey has found that Hyundai Motor Co. is the No. 1 brand that is searched on Google with “incorrect spellings.” Although the number of searches is increasing due to the increased brand interest in Hyundai Motor, many foreigners searched for the Korean automaker with an incorrect spelling due to
SK Group is seeking to appease the Chinese government after the United States put the brakes on its plan to bring in advanced semiconductor equipment to its Chinese plant.Seo Jin-woo, the group's vice chairman in charge of its China business, met with Wu Zhenglong, governor of Jiangsu Province,
SK Group’s holding company SK Inc. has merged with SK Materials, a semiconductor and display material affiliate. The merged company was officially launched on Dec. 1SK Inc. announced the merger plan in August. It decided to merge SK Materials in a bid to secure a competitive advantage in four areas
The Born2Global Center announced on Nov. 30 that its member company, VisualCamp, was named one of the three grand finalists in the Frontier Digital Technology sector of SLINGSHOT 2021, a startup pitching contest in Singapore.SLINGSHOT is an event held as part of Singapore Week of Innovation and Tech
The Ministry of Trade, Industry and Energy announced on Nov. 30 that the combined capacity of the fuel cell power generation facilities built in South Korea before November this year is 714 MW, the largest in the world, and the capacity is 174 MW larger than that of the United States, which has the
Hyundai Engineering announced on Nov. 30 that it has won a super-large gas plant construction project worth about 2 trillion won from Saudi Arabia’s state-run oil company Aramco.On hand at the signing ceremony in Saudi Arabia were Kim Chang-hak, president of Hyundai Engineering, and Abdulkarim A. Al
The Defense Acquisition Program Administration (DAPA) recently held a meeting on defense technology protection and announced that it would set up a new agency for tighter security control in the defense sector.This has to do with the fact that cyberattacks targeting South Korean defense companies ar
The popularity of Korean foods is increasing worldwide. According to the Korea International Trade Association, South Korea’s food and beverage exports totaled US$5,324.49 million for the first eight months of this year, up 16.3 percent from a year ago. The export figure exceeded US$7 billion last y
The Federation of Korean Industries said in its report on Nov. 28 that the government and the private sector need to work more closely together for global supply chain restoration, with value chain uncertainties increasing due to COVID-19 and U.S.-China disputes.“The joint effort has to take the for
Samsung Group has decided to invest 240 trillion won over the three years from 2021, 180 trillion won at home and 60 trillion won overseas. Of the 60 trillion won set aside for overseas, 20 trillion won will be used to build a new foundry in Taylor, Texas of the United States.Samsung plans to invest
Samsung Electronics has decided to build its second U.S. foundry in Taylor, Texas. Related incentives from the federal and state governments are estimated to add up to US$4 billion.For example, the city government decided on Nov. 9 to apply a factory site-related property tax cut of 92.5 percent, 90
LG Energy Solution will invest US$681 million (about 788.1 billion won) in its subsidiary in Michigan of the United States.LG Chem announced on Nov. 26 that its subsidiary LG Energy Solution made the decision at a board meeting on Nov. 25. LG Energy Solution plans to make the investment in installme
Samsung Electronics and SK Hynix ramped up their market shares in the NAND flash market in the third quarter of 2021.Samsung Electronics’ NAND flash sales in the third quarter of 2021 rose 16.5 percent from last quarter to reach US$6.51 billion. Sales growth was driven by increased demand from the s
Deputy Prime Minister Hong Nam-ki announced on Nov. 25 that the South Korean government would come up with a plan within this year regarding inclusion of the South Korean stock market in the MSCI World Index.MSCI indices constitute an important benchmark frequently referred to by major global invest