SK gas has disclosed on Dec. 6 that it will acquire 18,200 shares of GridFlex, a U.S. electric sales company, for about 69.7 billion won (US$52.8 million).Following the acquisition, SK gas’s stake in the company will rise to 80%, with the acquisition scheduled for April 30, 2025. SK gas has stated t
The government is opening up industrial research and development (R&D) to foreign institutions to discover and develop key technologies in areas vulnerable to becoming weak links in South Korea’s flagship industry value chains, such as “technology critical for leapfrogging,” “next-generation growth-
With assets totaling 10.4 trillion won (US$7.91 billion), Hankook & Company, formerly known as the Hankook Tire Group, currently ranking 40th in the business sector, has reignited a power struggle among siblings. After a slump in 2021, the management dispute between the brothers is resurfacing, mark
Daewoo Engineering & Construction (E&C) announced that Chairman Jeong Won-ju, having completed his schedule in Singapore, proceeded to Indonesia, which is celebrating the 50th anniversary of diplomatic relations with Korea. In Indonesia, he continued discussions with key stakeholders to explore busi
Hanwha Aerospace has secured a second phase contract for exporting 152 K9 self-propelled howitzers, worth approximately 3.4 trillion won, following their initial deal in August last year to export 212 units worth around 3.2 trillion won.On Dec. 4, Hanwha Aerospace announced the signing of this secon
Korea Hydro & Nuclear Power (KHNP) has signed a memorandum of understanding (MOU) with Nusantara Power, a subsidiary of the Indonesian electric power company PLN, for the introduction and construction of innovative Small Modular Reactors (SMR) in Indonesia. The MOU was signed on Dec. 1 (local time)
Alibaba Group’s 1688.com will open its platform in South Korea in February next year with a local partner in Korea. 1688.com is a business-to-business (B2B) platform with high price competitiveness and a wide range of products.KOSDAQ-listed Neorigin recently formed DC Virus, a joint venture with Chi
The U.S. government has clarified a regulation denying subsidies for electric vehicles with parts made by Chinese state-affiliated companies by stating that it includes joint ventures with foreign entities outside of China if the ownership stake of the Chinese company in the venture exceeds 25%. It
Kumho Tire announced on Nov. 30 that it signed a memorandum of understanding (MOU) with European petrochemical group Synthos for the joint development of sustainable tire raw materials. Both companies plan to collaborate on a project for the research and development of NdBR using Bio-Butadiene (Bio-
General Motors (GM) has asked LG Energy Solution to give the U.S. automaker up to 85 percent of the advanced manufacturing production credits (AMPCs) which the Korean automaker will receive through their U.S. battery joint venture, according to industry sources on Nov. 30. This is much more than GM’
Samsung SDI, which has been restructuring its battery materials business and strengthening its capabilities in battery cell manufacturing, is now actively investing in cathode materials. The company’s shift in focus has drawn significant attention as it departs from its previous strategy of streamli
The U.S. Department of the Treasury is set to announce detailed regulations on “Foreign Entities of Concern” (FEOC), which excludes some companies from electric vehicle tax incentives under the Inflation Reduction Act (IRA), on Dec. 1 (local time). The South Korean battery industry is closely monito
NPCore, an AI-based cybersecurity solution specialist (hereafter referred to as NPCore), with CEO Han Seung Chul, announced today that it has successfully completed raising 8 billion won in investment through a Pre-IPO. Last month, NPCore received a TI-1 grade from NICE evaluation information's inve
Hyundai Motor Company and Kia Corp. have developed the world’s first next-generation drive system that dramatically boosts vehicle design flexibility by placing electric vehicle drive components inside wheels. This new system can realize the utilization of the space between wheels, which was previou
Lotte Chemical has pioneered the domestic development of manufacturing technology for separator coating materials to address the instability of lithium metal anodes.Lotte Chemical announced on Nov. 28 that it has completed the development and domestic patent application for manufacturing technology
On Nov. 25 (local time), construction began on Hyundai Motor’s electric vehicle-dedicated factory, “Hyundai Motor Group Metaplant America (HMGMA),” in Ellabell, Georgia, the U.S.Alongside the increase in automobile exports, the export of automotive parts is also on the rise. As the supply of finishe
South Korean shipbuilding companies are actively considering the construction of overseas production bases to address a shortage of manpower. However, some are raising concerns about potential “technology leakage” arising from the construction of overseas shipyards.According to industry sources on N
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the company’s board of directors has decided to invest in the expansion of L HOUSE, a vaccine manufacturing plant of SK bioscience located in Andong, South Korea to ap
NESTYLE, Inc., a creative platform company, introduces AI-Zac Novel, a new form of web novel creation and subscription platform. It can be said to be a Korean-style Radish that has been developed further with AI technology than the global Radish, which has been very popular as a creative platform in
Autonomous a2z, a member of the Venture Enterprise Association and an autonomous driving startup, disclosed on Nov. 27 that it has signed a memorandum of understanding with Horiba Mira from the U.K., focusing on future mobility.In October, Autonomous a2z successfully completed a Series B funding rou