Taiwan made an official application on Sept. 22 for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It is likely to lead to opposition from China.The Taiwanese government has had talks with CPTPP members since last week. According to it, Taiwan has ma
SK Group will invest 700 billion won in the silicon carbide (SiC) semiconductor wafer business as part of its bid to become the No. 1 player in the world high-tech material market by 2025.SK Inc., the group’s holding company, recently announced that it will invest 5.1 trillion won in high-tech mater
Doosan Group is seeking to preempt the hydrogen market by mobilizing all of its affiliates' capabilities.In the field of hydrogen fuel cell, Doosan Fuel Cell is leading the domestic market with its unrivaled technology. The company mainly produces phosphoric acid fuel cells (PAFCs). It attained
The Korea International Trade Association announced on Sept. 22 that South Korea imported 30.64 million tons of LNG for the first eight months of this year, up 20 percent from a year ago. For reference, South Korea’s LNG imports were the largest in 2018 and the imports for the first eight months of
Cardinal One, a new corporation set up by HAAH Automotive of the United States, has joined the EL B&T Consortium, which participated in the main tender for SsangYong Motor.Electric vehicle and battery manufacturer EL B&T announced on Sept. 16 that it formed a consortium with Cardinal One and Pavilio
Red ginseng brand CheongKwanJang of Korea Ginseng Corp.(KGC) announced on Sept. 16 that it opened “Ginseng Museum Cafe by CheongKwanJang” in Manhattan, New York on Sept. 14 (local time).Ginseng Museum Café is the world's first experiential store created by CheongKwanJang. It combines a museum wi
The Court of Appeals for the Federal Circuit (CAFC) maintained on Sept. 13 the ruling of the Patent Trial and Appeal Board (PTAB) that two out of First Face’s three patents are valid. First Face filed a patent infringement lawsuit regarding the three patents against Apple in July last year, the PTAB
The Institute for International Trade of the Korea International Trade Association said in its report on Sept. 16 that South Korean products’ share in the U.S. market hit a 10-year high of 3.3 percent last year, when South Korean products’ shares in the Taiwanese and Japanese markets edged up to 10.
Shinhan Financial Group Chairman Cho Yong-byung met with the U.K.'s High-level Climate Action Champion Nigel Toping at Shinhan Financial Group's main office in central Seoul on Sept. 14 and discusses the role of domestic private financial companies in achieving carbon neutrality in Asia.The
Rivian, a U.S. electric vehicle startup, has released the world’s first electric pickup truck, ahead of Tesla and General Motors. Of note, the vehicle is loaded with batteries from Samsung SDI.On Sept. 14, CNBC and other U.S. economic media outlets reported that Rivian rolled out a commercial electr
The Institute for International Trade of the Korea International Trade Association said in its report on Sept. 15 that a total of 139 investigations related to import regulations were initiated worldwide in the first half of this year, down 41 percent from a year ago.The number dropped from 111 to 4
The battery business unit of SK Innovation is expected to become an independent corporation through SK Innovation’s extraordinary shareholder meeting scheduled for Sept. 16. The scope of business of the new company is expected to include EV battery manufacturing, battery life cycle services and ener
Asiana Airlines’ 1.5 trillion won capital increase, a prerequisite for Korean Air's acquisition of the struggling airline, will be postponed again due to the delay of business combination reviews by fair trade authorities in major countries, including Korea.Asiana Airlines was expected to increa
Lotte Holdings announced on Sept. 14 that it has recently opened the Design Management Center and appointed Bae Sang-min, a professor of industrial design at KAIST, as the head of the center.Bae graduated from Parsons School of Design in the United States and has been serving as a professor at KAIST
Hyundai Motor Co. has postponed the release of its latest electric vehicle model IONIQ 5 in the U.S. market to winter from the originally scheduled fall. This seems to be due to the continued shortage of automotive semiconductors.Hyundai Motor's U.S. subsidiary (HMA) changed the IONIQ 5’s expect
Korea’s ICT exports and imports in August amounted to US$20.27 billion and US$11.38 billion, respectively, posting a trade surplus of US$8.89 billion, the Ministry of Science and ICT said on Sept. 14.In August, ICT exports climbed 33.2 percent compared to a year ago. They have been on the rise for 1
SK Materials will enter the silicon anode material business to expand its secondary battery materials business.SK Materials has joined forces with Group 14 Technology of the United States to produce silicon anode materials. Founded in Seattle in 2015, Group 14 Technology is a company with technologi
LG Chem has joined hands with Archer Daniels Midland (ADM), one of the world's four major grain processing companies, to establish a bioplastic joint venture.LG Chem vice chairman Shin Hak-chul exchanged heads of agreement (HOAs) with ADM chairman Juan Luciano at ADM's main office in Chicago
South Korea’s share in the global semiconductor market fell from 23.6 percent in 2018 to 18.4 percent in 2020 and the South Korean government needs to provide more support so that the competitiveness of the industry can be enhanced, an industry leader said on Sept. 14.“The global semiconductor marke
JW Bioscience, a subsidiary of JW Life Science, announced on Sept. 14 that it has signed a non-exclusive technology licensing-out contract on multiple biomarker CFB and CA19-9 with Swedish diagnostic company Immunovia AB.The original patented technology is a diagnostic technology that can detect pan