China has received recognition from the American Bureau of Shipping (ABS) and others for its world-leading technological capabilities in the field of ultra-large liquefied natural gas (LNG) carriers, noting it as the largest in the world.According to industry sources and foreign reports on Sept. 9,
As the power struggle between the U.S. and China continues, recent moves by Middle Eastern countries, long-standing allies and the largest weapon importers from the U.S., are noteworthy.According to industry sources and foreign media on Sept. 9, Saudi Arabia, Qatar, Kuwait, and the United Arab Emira
Despite the slowing growth of the domestic electric vehicle market, sales of imported brands have increased.According to the new registration statistics from the Korea Imported Car Association (KAIDA) on Sept. 10, the number of imported electric vehicles sold in the domestic market from January to A
Three defense units of the Hanwha Group (Hanwha Aerospace, Hanwha Ocean, and Hanwha Systems) participated in MSPO 2023, Europe’s premier defense exhibition held in Kielce, Poland, from Sept. 5 to 8 (local time), laying the groundwork for expansion in the European market.On Sept. 5, during MSPO, Hanw
The washer-dryer is evolving from a vertically stacked washing machine and dryer to an all-in-one product that fully integrates the two appliances.On Sept. 10, according to industry sources, both LG Electronics and Samsung Electronics showcased their new washer-dryer products at IFA 2023, Europe’s l
As tensions intensify between the U.S. and China over smartphones equipped with Huawei’s self-developed 5G chips, uncertainty surrounding the Chinese plants of Samsung Electronics and SK hynix is expected to deepen.According to industry sources and foreign media on Sept. 10, after Huawei unveiled tw
Foreigners switched to selling in the Korean stock and bond markets in August. Foreigners sold more than 1 trillion won worth of Korean stocks in August alone, pushing down their share of listed Korean stocks to the lowest point this year.According to a report about August 2023 foreigner Korean stoc
Choi Yoon-beom, chairman and CEO of Korea Zinc, explored ways to cooperate in various fields in a private meeting with Bahlil Lahadalia, chairman of the Indonesian Investment Coordinating Board.Chairman Choi held a discussion about four areas in Jakarta, Indonesia, on Sept. 6. The four areas were co
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that Ana Brnabić, Prime Minister of the Republic of Serbia (Serbia) has visited the SK bioscience headquarters and signed a memorandum of understanding (MOU) with the compa
Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho met with Uzbekistan’s Deputy Prime Minister for Economic Affairs to finalize a plan to enable Korean companies to receive an unpaid amount for the Surgil Project after six years.According to the Korean Ministry of Trade, Indust
The Korean government will listen to the opinions of experts from various sectors to spread super-sized artificial intelligence (AI) not only to the science and technology fields but to all aspects of society such as law, medicine, education, and defense. It is planning to launch a project to suppor
The Born2Global Center, which supports Information and Communication Technology (ICT) startups in their overseas ventures, is set for a new beginning as a foundation a decade after its establishment.The Ministry of Science and ICT (hereafter referred to as MSIT) announced that the K-ICT Born2Global
Samsung Biologics and Celltrion have made it to the top 10 of the World’s Most Trusted Healthcare Companies, a list jointly compiled by the American weekly magazine Newsweek and global market research firm Statista.According to Newsweek on Sept. 8, Samsung Biologics secured the second position in th
Doosan Enerbility announced on Sept. 8 that it has signed a memorandum of understanding (MOU) with Indonesia Power (IP) concerning the conversion of power plants to eco-friendly operations for the reduction of exhaust gas emissions in Indonesia.Through this agreement, both companies have decided to
Hanmi Pharmaceutical has invested US$7 million to secure 670,000 shares in Canadian biotech firm Aptose Biosciences. According to pharmaceutical industry sources on Sept. 8, Hanmi Pharmaceutical announced its decision to acquire 668,449 shares of Aptose through a stock purchase agreement. This follo
The U.S.-China semiconductor battle has escalated into a “mineral war.” China, possessing core materials for semiconductors and electric vehicle batteries, is playing its mineral export restriction card in response to U.S. controls on semiconductor technology. Concerns over China’s weaponization of
SK hynix’s American subsidiary, Solidigm, has closed its South Korean branch. This move is a part of a global operational efficiency initiative due to declining conditions in the memory semiconductor market.Industry sources reported on Sept. 8 that Solidigm is in the process of closing its smaller g
Samsung Electronics has been surpassed by U.S.-based company Intel, landing it in the second spot in global semiconductor sales rankings.According to market research firm Omdia on Sept. 8, Samsung Electronics’ semiconductor sales for Q2 (April-June) totaled US$9.45 billion, falling behind Intel’s US
As global demand for offshore wind power continues to grow, the associated submarine cable market is also rapidly expanding.According to industry sources on Sept. 8, the Taiwanese government has begun the selection process for development companies related to offshore wind power projects for 2028-20
Korea’s current account posted a surplus for the third consecutive month in July, but it was a recessionary surplus as imports fell more than exports. In particular, a surge in overseas travel led to a larger deficit in the travel account, making the size of the service account deficit 36 times larg