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
Standard Chartered Group said in its report on Nov. 25 that South Korea's exports are likely to reach approximately US$1 trillion in 2030.“The global total exports are expected to increase from US$17.4 trillion to US$29.7 trillion from 2020 to 2030,” it said, adding, “In that period, South Korea
SK On, a battery-making subsidiary of SK Innovation, will promote a pre-IPO placement to attract investments worth 3 trillion won.SK On recently selected Deutsche Securities and JP Morgan as advisors to offer shares to private investors before an official listing.“We are considering various strategi
Hanwha Solutions announced on Nov. 24 that it has signed a contract to invest US$100 million in Lancium Technologies in Houston, Texas. Through this investment, Hanwha Solutions will secure a seat on the board of directors of the U.S. startup, which specializes in data center power management.Lanciu
Samsung Electronics vice chairman Lee Jae-yong returned home on Nov. 24 from a business trip to North America for the first time in five years.“I feel under heavy pressure after listening to the voices of our officials in the U.S. and seeing the harsh market realities in person,” Lee said, upon arri
Hyundai Engineering & Construction (Hyundai E&C) has signed a teaming agreement with Holtech International, a diversified energy company in the United States, to develop small modular reactors (SMRs) and promote new businesses together.The two companies agreed to cooperate in all aspects of the SMR
Kolmar Korea has reportedly purchased a 150,000-square-meter plant site in Olyphant, Pennsylvania, for about US$1.5 million.The acquisition of the plant site suggests that the company would expand its investment in the United States.Industry analysts say that Kolmar Korea appears to be changing its
Samsung Electronics announced on Nov. 24 that it would build a new semiconductor manufacturing facility in Taylor, Texas. The estimated US$17 billion investment in the United States is intended to boost production of advanced logic semiconductor solutions that power next-generation innovations and t