Hanwha Solutions announced on Nov. 18 that it will acquire a 16.67 percent stake in REC Silicon ASA, a leading producer of high-purity polysilicon, for a total of US$160.47 million.Headquartered in Fornebu, Norway, REC Silicon ASA, is running two polysilicon plants in the United States, supplying hi
U.S. Trade Representative Katherine Tai is likely to have a meeting with South Korean entrepreneurs in Seoul on Nov. 20.According to experts, the meeting is to stress the importance of their participation in supply chain reformation led by the United States. She is likely to put pressure on them for
A Chinese media outlet reported on Nov. 17 that CATL of China, the world's largest battery manufacturer, has opened a branch in Korea.Analysts say that CATL made the move to supply lithium iron phosphate (LFP) batteries to Hyundai Motor.The Korean branch is CATL’s fifth office after those in Jap
Korea Development Bank (KDB) has set up a venture capital (VC) firm in Silicon Valley of the United States to invest in promising startups around the world. KDB has become the first Korean state-run bank to set up a VC firm overseas.KDB announced on Nov. 16 (U.S. local time) that it has opened "KDB
Hanmi Pharmaceutical announced on Nov. 17 that its CCR4 target immuno-cancer drug "FLX475," which is under joint development with Rapt and MSD of the United States, has reduced the size of a tumor metastasized to a gastric cancer patient by 58 percent.Hanmi Pharmaceutical presented a poster introduc
The Korean mid-range surface-to-air missile (M-SAM), "Cheongung II," will be exported to the United Arab Emirates for the first time. The contract amount is expected to reach about US$3.5 Billion (4 trillion won), the largest in the history of the Korean defense industry.The Cheongung is the core we
The United States announced that it would form a new economic framework in the Indo-Pacific region early next year while organizing a new trade council with Japan. According to experts, both are to suppress the influence of China. The announcement was made the day after the first online summit betwe
SK Group acquired a European gene and cell therapy (GCT) contract manufacturing organization (CMO) company in March. Now it is in talks to take over a U.S. company in the same business field.SK Inc., the group’s holding company, announced on Nov. 16 that it was in exclusive talks with the Center for
Merdeka 118 (formerly known as KL 118), a skyscraper currently under construction in Kuala Lumpur, Malaysia, is expected to become the world's second-tallest skyscraper when finished next year. The project, being carried out by Samsung C&T, is slated for completion in the third quarter of next y
Samsung Electronics will conduct a 6G frequency test using its telecom equipment in the United States this week.Samsung Research America (SRA), the company’s research arm in the U.S., has recently received approval from the U.S. Federal Communications Commission (FCC) on the use of radio frequencies
The Institute of International Finance said in its report on Nov. 15 that South Korea’s household debt-to-GDP ratio was 104.2 percent at the end of the second quarter of this year. The ratio is the highest among those of the 37 countries it covered and Hong Kong followed South Korea with 92 percent,
The Ministry of Trade, Industry and Energy held a meeting on Nov. 15 at the Korea Carbon Industry Promotion Agency and announced that South Korea’s carbon material technology is currently 80 percent of the level of that of industry leaders.In the carbon material industry, carbon fibers, artificial g
Taihan Cable & Solution announced on Nov. 15 that it has won a power grid project in western California.The company will supply medium voltage (MV) cables worth 60 billion won for about three years until October 2024.The latest order boosted Taihan Cable & Solution’s order intake from the United Sta
The Korea Automotive Technology Institute announced that 71,006 electric vehicles were sold in South Korea for the first nine months of this year, up 96 percent from a year ago. “The South Korean electric vehicle market was the seventh-largest in the world in that period whereas it was the eighth-la
The Korea International Trade Association announced on Nov. 15 that South Korea’s import dependence on China is at least 70 percent in the case of as many as 79 items, including 28 that are particularly vulnerable to China’s export restrictions.“We looked into the 100 items with the highest degrees
The Korea Insurance Research Institute announced on Nov. 12 that South Korean households’ debt-to-disposable income ratio was 190.6 percent in 2019. “For reference, the ratio was 252.6 percent in Denmark, 232 percent in the Netherlands, 210.1 percent in Australia, 104.1 percent in the United States,
Samsung Electronics vice chairman Lee Jae-yong left for Canada and the United States on Nov. 14. It marks Lee's first overseas business trip since his release from prison on parole on Aug. 13 and his first business trip to the United States since 2016. Lee is expected to finalize the selection o
Hanwha Q CELLS announced on Nov. 11 that it will develop the Sputnik Energy Storage System (ESS) Complex in Hunt County, Texas of the United States.This marks the first ESS development project conducted exclusively by Hanwha Q CELLS. The ESS complex is not combined with a solar or wind power plant.T
The Korean Intellectual Property Office (KIPO) said on Nov. 11 that Korean companies, including affiliates of Hyundai Motor Group and LG Group, are rapidly increasing their self-driving patent applications.According to KIPO, a total of 24,294 self-driving patent applications had been filed with the
The Ministry of Land, Infrastructure and Transport conducted an urban air mobility (UAM) demonstration at Gimpo Airport on Nov. 11. The Flight demonstration was conducted with a two-seater multicopter developed abroad, and various aerial vehicles developed at home and abroad were exhibited at the ai