South Korean Trade Minister Yeo Han-koo remarked on Sept. 29 that he is well aware of concerns over the U.S. government’s demand regarding semiconductor manufacturers’ confidential information, and the South Korean government would try to minimize damage.The U.S. government had a meeting with those
Volkswagen and Toyota announced this month that they would invest 57 trillion won in EV battery production. Their purposes are the same, that is, self-supply. In other words, the two biggest companies in the global automotive industry are planning to produce EV batteries on their own.This is likely
SKC’s board of directors has voted down the company’s plan to set up a joint venture with Nexeon, a U.K. company that produces silicon anode materials for electric vehicle batteries.The company has been promoting a joint venture with Nexeon as part of its bid to become the world's No. 1 mobility
Market research firm SNE Research said on Sept. 29 that the batteries of the electric vehicles that were registered between Jan. 1 and Aug. 31 this year added up to 162 GWh, 139.3 percent from a year ago.That includes 39.7 GWh supplied by LG Energy Solution, 8.8 GWh by SK Innovation and 7.9 GWh by S
The possibility of early tapering by the Fed led to a rapid rise in U.S. government bond yield and South Korean stock and bond market fluctuations. Evergrande risks affected the markets, too.KOSPI fell 1.22 percent to close at 3,060.27 points on Sept. 29, when the lowest point was 3,030.60. Institut
Hana Financial Group announced on Sept. 28 that it has signed a strategic business agreement with Tishman Speyer, one of the largest real estate investment companies in the United States.On hand at the online signing ceremony were Lee Jong-seung, vice president of global business at Hana Financial G
Samsung Electronics is close to finalizing the construction of a US$17 billion semiconductor foundry in Taylor, a city in Williamson County in the U.S. state of Texas, Reuters reported on Sept. 29 (U.S. local time), quoting sources with knowledge of the matter.Samsung, however, said it is continuing
DL Chemical's board of directors decided on Sept. 27 to acquire a 100 percent stake in Kraton, a U.S. petrochemical company, for US$1.6 billion (US$46.5 per share).Kraton consists of two business divisions -- polymer and chemical. It operates 13 production plants and five R&D centers in major ma
The Korea-America Association, the Korea Industry Alliance Forum, the Korea Chamber of Commerce and Industry, the American Chamber of Commerce in Korea, and the Korea Federation of SMEs held an industrial cooperation conference on Sept. 27.There, participants stressed the importance of mutual cooper
The U.S. government told semiconductor manufacturers, including Samsung Electronics, SK Hynix, TSMC and Intel, to submit their confidential information by Nov. 8. It mentioned that the demand is to find out the cause of the ongoing global chip shortage and the information includes client lists, inve
South Korean automakers are facing reverse discrimination due to excessive regulations related to autonomous driving, remote parking and remote software update.One of the typical examples is Tesla’s Smart Summon feature, which is to bring a Tesla car at a distance of up to 60 meters. However, accord
The Federation of Korean Industries sent a thank-you letter on Sept. 27 to U.S. Senator Jerry Moran, who claimed that South Korea should be excluded from Section 232 of the Trade Expansion Act of 1962.Early this month, the senator urged the U.S. Department of Commerce and the Office of the United St
Doosan Fuel Cell will export hydrogen fuel cells for the first time in Korea. The company announced on Sept. 27 that it will hold a ceremony at its plant in Iksan, North Jeolla Province, to mark the nation's first exporting of hydrogen fuel cells.Doosan Fuel Cell will install four 440 kW hydroge
A battery production company established by BlueOvalSK, a joint venture between U.S. automaker Ford and Korean battery maker SK Innovation will build the largest battery production plant ever in the United States. SK Innovation and Ford announced on Sept. 27 (U.S. local time) the locations of the ba
POSCO Chemical is stepping up efforts to build a value chain for anode materials, ranging from raw materials mining to production of intermediate raw materials and finished materials.POSCO Chemical, the only company in Korea that produces both cathode and anode materials, is speeding up the construc
Democratic Party of Korea lawmaker Youn Kwan-suk said on Sept. 26 that some governments are opposed to Korean Air’s acquisition of Asiana Airlines for the possibility of restriction of market competition.The deal must be approved by the governments of South Korea, the United States, China, Japan, th
The Korea Institute of Energy Technology (KENTECH), which is scheduled to open in March next year as the world's only university specializing in energy, recently organized the first Energy Forum to shed light on the development of alternative energy sources for carbon neutrality. Following are e
The White House and the U.S. Department of Commerce convened a meeting to discuss the ongoing global semiconductor shortage. The meeting is scheduled to be attended by Samsung Electronics, TSMC, Apple, Intel, Ford, GM, Microsoft, Daimler and BMW.The meeting is likely to focus on the enhancement of t
KT announced on Sept. 23 that it won the Telecommunications Service Innovation Award and the Best 5G Core Network Technology Award at the 5G World Awards 2021 held in London, the United Kingdom on Sept. 22 (local time).This year, KT participated in two categories of the award program, the telecommun
KB Kookmin Bank announced on Sept. 23 that it has signed a memorandum of understanding (MOU) on investment banking (IB) with Lloyd Banking Group of the United Kingdom.The MOU allows KB Kookmin Bank to jointly invest in real estate syndicated loans to be arranged by Lloyd Banking Group. The two compa