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
The U.S. government is considering imposing countervailing duties on South Korean and Russian oil country tubular goods (OCTG). South Korean steel pipe manufacturers are facing increasing difficulties with a quota already applied to steel exports from South Korea to the United States.The United Stat
Hanryu Bank, a Korean cultural wave platform company, is taking steps to list its stocks on U.S. NASDAQ. The company is the first Korean startup to knock on the door of NASDAQ.Hanryu Bank announced on Nov. 22 that it has recently selected Aegis Capital Corp. as the lead manager of its IPO. The compa
SK Hynix president Lee Seok-hee has dismissed concerns that it may not be able to introduce extreme ultraviolet lithography equipment to its plant in China due to opposition from the United States.“We still have enough time,” Lee said at a meeting with reporters after attending a ceremony for the 14
South Korean electric vehicle battery manufacturers are expanding their supply chains in Europe as well as the United States. This is because the ongoing U.S.-China trade disputes may lead to their production setbacks in the United States.LG Energy Solution, which is running a plant in Poland, is co
South Korean Trade Minister Yeo Han-koo had a meeting with U.S. Trade Representative Katherine Tai in Seoul on Nov. 19 and said on Nov. 22 that they discussed South Korea’s role in the United States’ new economic framework in the Indo-Pacific region.At present, the United States is expanding its coo
The U.S. Meat Export Federation announced on Nov. 22 that South Korea was the largest U.S. beef importer in the first three quarters of this year whereas it was Japan last year.In that period, South Korea’s U.S. beef imports totaled 194,660 tons, up 4 percent from a year ago. It includes 59,101 tons
The author is a freelance journalist and Google News PR specialist. She can be reached at virginia.sagal.media@gmail.com. -- Ed. The South Korean government, led by liberal President Moon Jae-in, announced in July 2021 a new K-Deal that looks to invest more than 160 trillion won ($138 billion) in di
The author is a freelance journalist and Google News PR specialist. She can be reached at virginia.sagal.media@gmail.com. -- Ed. According to research, the American business sector may be assumed to be backed by a significant powerful Asian economic force, with Asian-owned businesses making up appro
Hyundai Motor Group chairman Chung Eui-sun said on Nov. 22 that his company would not produce electric vehicle batteries on its own. It marked the first time that the group’s chairman clarified his position on internalizing battery production. Following Tesla, global automakers, including Volkswagen
Samsung Electronics vice chairman Lee Jae-yong, who is on a business trip to the United States, met with senior White House officials and U.S. Congressmen to discuss semiconductor supply chain issues.In addition, Lee met with executives of Microsoft (MS) and Amazon to discuss cooperation in such fie
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on Nov. 21 that South Korean pharmaceutical and biotech companies’ technology exports since the beginning of this year are 11.4049 trillion won in total.According to the association, the figure including undisclosed contract
Nowadays, both the United States and China are putting increasing pressure on South Korean enterprises so that they do not increase their investment in China and the United States, respectively. The two superpowers are their most important trade partners and their concerns are growing under the circ
Lunit, a medical artificial intelligence (AI) solution developer, announced on Nov. 18 that the U.S. Food and Drug Administration (FDA) has cleared its AI-powered breast cancer diagnosis solution "Lunit INSIGHT MMG."Lunit INSIGHT MMG is one of the company's most mature radiology products which a