The Bank of Korea said in its report on Nov. 7 that South Korea is more vulnerable than Japan and China to the ongoing manufacturing production setbacks in Indonesia, Thailand, Vietnam, Malaysia and the Philippines.“The five ASEAN states’ manufacturing production fell 7 percent or so in the third qu
Korea’s three major battery makers, which have announced massive investment plans for the United States, are shifting their focus to Europe. They are looking to secure an edge with next-generation batteries in a price war with Chinese battery companies.As the three battery companies have decided to
The deadline for chipmakers’ submission of their supply chain information to the U.S. government is only one day away. Samsung Electronics and SK Hynix are reportedly mulling over the level of disclosure until the last minute.The two companies are expected to submit their data to the U.S. government
Solid Energy System (SES), a U.S. battery startup which received investments from Korean conglomerates, including Hyundai Motor, SK and LG, has unveiled its next-generation lithium metal battery, which it aims to commercialize by 2025.The company currently has its headquarters in Singapore and test
EcoPro BM announced on Nov. 1 that it would invest two trillion won to build cathode material production facilities in the United States and Europe.The company made this announcement in an ECO-Friendly Day event at the Eco-Battery Pohang Campus in Pohang, North Gyeongsang Province, on Nov. 4.It plan
Green ETFs in South Korea are showing low rates of return unlike U.S. and Chinese ETFs of the same type.According to industry sources, those in the United States are recording a rate of return of over 20 percent these days, and the 10 most profitable ETFs in the market include multiple green ETFs. T
SK On, a battery subsidiary of SK Innovation that is speeding up the development of lithium iron phosphate (LFP) batteries, has decided to produce pouch-type LFP batteries.LFP batteries are mainly produced by China's CATL and BYD, and these companies specialize in the prismatic type. Jumping int
“Let’s assume that the South Korean government demands Intel’s technological data and client information. Is there any possibility that the U.S. government will accept it?” said an employee in a Korean semiconductor company.Since the beginning of this year, the White House has had three meetings rel
The stock price of Plug Power, a U.S. hydrogen energy company which received a joint investment from SK Inc. and SK E&S, has soared, providing the two Korean companies with a valuation gain of about 800 billion won.SK Inc. and SK E&S invested about 1.85 trillion won (about US$1.6 billion) together i
Hyundai Motor Co. will produce the Genesis GV70 electric vehicle (EV) model at its plant in Alabama of the United States starting from early next year. The GV70 EV will become the first EV model of either Hyundai Motor or Kia to be produced in the United States. Analysts say Hyundai Motor has made t
Thailand, Singapore, Brunei, Laos, Cambodia and Vietnam as six ASEAN members submitted their ratification instrument regarding the Regional Comprehensive Economic Partnership (RCEP) to the secretariat of the ASEAN on Oct. 28.The RCEP agreement becomes effective 60 days after ratification instrument
Raw material shortages triggered in China are seriously affecting global industries. Experts point out that China is weaponizing its resources under U.S. pressure, although it is mentioning carbon neutrality and electric power shortage as reasons. More and more countries are having talks with China
The Ministry of Trade, Industry and Energy announced on Nov. 3 that its minister Moon Sung-wook and U.S. Secretary of Commerce Gina Raimondo would meet soon to discuss the U.S. demand for semiconductor companies’ sensitive information and data.The companies include Samsung Electronics and SK Hynix a
SK Group chairman Chey Tae-won has held a series of meetings with key U.S. political and business figures in Washington, D.C.Chey visited Washington, D.C. from Oct. 27 to Nov. 1 (local time) and met with political and business figures, including Republican Senate floor leader Mitch McConnell, to dis
Hyundai Motor Group has risen to third place in the global car sales rankings for the first time in its history.Cumulative global sales of Hyundai Motor Co. and Kia Corp. in the first nine months of this year were tentatively tallied at 5,032,045 units, according to the data from the global automobi
The Korea Economic Research Institute said in its recent report that the EV battery and drug industries of South Korea, which are heavily dependent on Chinese raw materials, are likely to take a significant hit as the United States is continuing to reshape global supply chains in order to reduce its
The Nikkei reported on Nov. 2 that the Japanese government is considering shortening the quarantine period of those who enter for business purposes from 10 days to three and the new quarantine period may become effective on Nov. 8.Previously, the period was two weeks regardless of the purpose of ent
POSCO Chemical is gearing up to build a cathode material plant in the United States, a plan that was announced early this year. Starting next year, it will gradually expand its overseas production bases to Europe and other parts of the world.POSCO Chemical is closely examining investment conditions
The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT applied for feasibility studies in September this year regarding the development of next-generation small modular reactors. In their application for the 583.2 billion won project, they clarified that the development is fo
The United States and the European Union recently ended their trade disputes in the steel and aluminum industries. The United States’ tariffs on steel and aluminum imported from the European Union will be lowered from 25 percent and 10 percent to zero, and the European Union’s 10 percent retaliatory