Hyosung Corp. announced on June 20 that visiting Vietnamese Deputy Prime Minister Vuong Dinh Hue has promised to provide full support for Hyosung’s investment projects in Vietnam during his meeting with its chairman Cho Hyun-joon.Hyosung is building a US$1.2 billion polypropylene (PP) plant and a se

A technique that can easily diagnose cancer with only a small amount of plasma has been developed. Unlike antibody-based technology that diagnoses individual cancers, it can be used as a complementary technology to existing cancer diagnosis because it can diagnose various types of cancer at a time.T

Hyundai Pharmaceutical announced on June 20 that it has launched Korea’s first Parkinson's disease treatment Ropinirole hydrochloride (HCl).The original product is global pharmaceutical company GSK's Requip tablet, and the Ropinirole drug market is worth 12 billion won based on the IQVIA dat

The Ministry of Trade, Industry and Energy announced on June 20 that seven industrial technologies including 500 kV power cable design and production have been newly designated as the core industrial technologies of South Korea.The other six are related to large-diameter semiconductor wafer producti

Brain drain from South Korea is becoming increasingly noticeable in various industries, ranging from semiconductor to electric vehicle (EV) battery.The International Institute for Management Development (IMD) recently announced that South Korea ranked 43rd out of 63 countries last year, with a score

LG Display has topped the global automotive display panel market in terms of shipments for the first time.Global automotive display shipments totaled 36.329 million units in the first quarter of this year, down 10.0 percent from 40.32 million units in the same period of last year, global market rese

LG Display will supply liquid crystal display (LCD) panels to Apple for its high-end monitor “Pro Display XDR,” which was unveiled at WWDC 2019 on June 3.The 32-inch 6k monitor has become famous for its ultra-high price of US$4,999. The panel for this expensive display is also priced at US$1,500 per

A majority of unionized workers of GM Korea has voted for strike action, paving the way for the labor union of the struggling automaker to go on strike legally when the National Labor Relations Commission (NLRC) fails to resolve a dispute between the management and union through arbitration. The lab

SDJ Corp. chairman Shin Dong-joo, who has been fighting a legal battle against his younger brother, Lotte Group chairman Shin Dong-bin, over the control of Korea’s fifth largest business group, has virtually surrendered to the latter.He said he would not submit a proposal for dismissal of Shin Dong-

Korea Exchange (KRX) has decided to postpone its decision on whether to delist Kolon TissueGene Inc. which caused the Invossa debacle.KRX said on June 19, “We will extend the deadline of the ongoing Invossa investigation considering the needs for additional investigations to decide on whether to inc

Amid an economic downturn, the debt repayment ability of South Korean companies and business owners has got worse. One out of three firms is unable to generate enough operating profit to pay the interest on its loans. As small business owners are struggling due to weak domestic demand, they have to

The South Korean cloud computing market has been dominated by global players such as Amazon Web Services and Microsoft, whose combined market share is currently as high as 80 percent. South Korean IT companies are trying to make a breakthrough with multi-cloud attracting much attention these days an

Hyundai Motor Group announced on June 10 that subscribers to connected car services of the Hyundai, Kia and Genesis brands have surpassed 1 million as of June 18.The automotive group expects the figure reach 1.5 million by the end of this year.Hyundai and Kia entered the connected car market with th

The Chinese Embassy in Korea has proposed a meeting with the Korea Automobile Manufacturers Association (KAMA).Industry insiders say that on the surface, the embassy proposed the meeting to promote cooperation between the two countries in the field of automobiles and parts, but a more practical inte

GS Engineering & Construction (GS E&C) will enter the solar power generation market of Ukraine as an independent power producer (IPP), becoming the first Korean company to build solar power plants in the Eastern European country.GS E&C announced on June 19 that it will start a project to develop 24

LG CNS has released new services aimed at facilitating digital transformation of corporations based on cloud computing, artificial intelligence (AI), big data, robot process automation, and blockchain.The company presented its business plans at Tech Day 2019 held on June 19 at LG Science Park in Seo

Samsung Electronics has been recognized as a reliable desktop and laptop PC brand in the United States.The company was ranked first in a recent computer reliability survey conducted by Rescuecom, a U.S. computer service franchise.Rescuecom publishes the Computer Reliability Report on a regular basis

Speculation is rife about the possibility of SK Hynix Inc. strengthening its system semiconductor business.SK Hynix is expected to post 6.44 trillion won (US$5.49 billion) in sales and 822.80 billion won (US$701.39 million) in operating profit in the second quarter, according to market tracker FnGui

General Motors Co. Chairman Mary Teresa Barra announced restructuring plans last year to downsize the workforce by 18,000 in North America and shut down seven plants around the world. In addition, she said she would close down two more overseas plants which fail to make a profit at the end of this y

Korea Electric Power Corp. (KEPCO) announced on June 19 that it has been selected as a preferred bidder for the construction and operation of Dededo Natural Gas-Fired Combined Cycle Power Plant (200 MW) in Guam.This marked the first time that a Korean company won an order for the construction of a U