LS MnM announced on Aug. 29 that they have signed a memorandum of understanding (MOU) on environmental, social, and governance (ESG) issues with the global mining company Anglo American on Aug. 28.Anglo American, a multinational mining company headquartered in London, the U.K., specializes in the pr
Despite the rain on the afternoon of Aug. 28, the streets of Myeongdong in Seoul were bustling with foreign tourists. However, groups of Chinese tourists were noticeably absent. Volunteers stationed around the area were busier assisting in English and Japanese than in Chinese.China recently allowed
Last year, South Korea reported its lowest birthrate since the initiation of birth statistics in 1970. The average number of births expected in a woman’s lifetime has dropped to 0.7. Annual births have also fallen below 250,000, intensifying concerns about a “population cliff.”According to the birth
The government has supplied more than 10,000 workers, both nationals and foreigners, to the shipbuilding industry in the first half of this year. Out of these, foreign workers totaled 8,300.According to the Ministry of Trade, Industry, and Energy and the Ministry of Justice, a total of 11,104 produc
The preliminary estimate indicates that in this year’s second quarter, the GDP of the member countries of the Organisation for Economic Co-operation and Development (OECD) grew by 0.4% compared to the previous quarter. South Korea recorded a growth rate of 0.6%, tying with the United States for 10th
On Aug. 30, HJ Shipbuilding & Construction announced the naming ceremony for two 5,500 TEU container ships at its Yeongdo shipyard in Busan. Commissioned by a European shipowner, these vessels are named “Zim Danube” and “Zim Ganges.”These ships are two of the four eco-friendly container ships ordere
HYUNDAI STEEL announced on Aug. 30 that its Ulsan Plant 2 recently obtained a renewable energy offshore wind farm certification from Det Norske Veritas (DNV), a Norwegian classification society. This certification ensures Hyundai Steel meets basic criteria for both domestic and international offshor
On Aug. 30, CKD (Chong Kun Dang) Healthcare announced that its PKG Identity Design project won a silver award in the packaging category at International Design Excellence Award (IDEA) 2023. IDEA is a prestigious design competition in North America initiated in 1980 and organized by the Industrial De
AmorePacific’s “AESTURA” is set to officially launch in the Japanese market on Sept. 1. The product line will be showcased at 12 branches of “Atocosme,” Japan’s largest beauty specialized platform and multi-brand shop. The A-SICA 365 lineup, making its debut in the Japanese market, is developed base
Coupang Play, the fastest-growing OTT service in Korea, has completed its executive reinforcement within the engineering organization and is accelerating its efforts to enhance the product experience. The executives appointed by Coupang Play are Rohit Puri, Head of Engineering, and Sekwon Choi, Head
The Ministry of SMEs and Startups (MSS) announced that it held the Fabless Challenge, an event to select and support promising fabless semiconductor companies, at the KBIZ DMC Tower in collaboration with Samsung Electronics, on Aug. 29.The Fabless Challenge has been held since last year to strengthe
President Yoon Suk-yeol has picked up the biotech industry as a future growth driver and is determined to support it. To this end, the government’s budget for biotech R&D for 2024 has been expanded by 12 percent. Starting from 2024, the government will launch large-scale R&D projects to develop vacc
Global leading tire company Hankook Tire & Technology (Hankook Tire) introduced its exclusive technology system for ‘iON,’ a tire brand designed for electric vehicles (EVs), to accelerate the efficiency in Research & Development (R&D) process and to enhance customer communication.Hankook Tire establ
The Korean government sees eye to eye with major Korean semiconductor giants, including Samsung Electronics and SK hynix, regarding developing advanced packaging technology for semiconductors.The Ministry of Trade, Industry and Energy (MOTIE) announced on Aug. 29 that it signed an agreement with sem
LS Group will focus on strengthening its global competitiveness in secondary batteries through a Korean battery alliance. It has set a goal to produce 120,000 tons of precursors, a core material for secondary batteries, annually from 2029.According to LS Group on Aug. 29, Koo announced the group’s v
Defense contractor Poongsan announced on Aug. 29 that it has succeeded in developing a 155 ㎜ projectile with a significantly increased range. The range of current mass-produced projectiles is about 40 kilometers, but the range-extending projectile developed this time reaches about 60 kilometers.The
Major Korean petrochemical companies have been downsizing or selling off their film businesses, which were once significant business areas. This is because they find themselves in a situation where they cannot sell their products at fair prices, as China has increased production with low-priced prod
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced on Aug. 29 that it will initiate an inspection of the Social Overhead Capital (SOC) projects being undertaken in the Saemangeum region of Jeollabuk-do, or North Jeolla Province. The ministry intends to examine the necessity, feasi
The procurement for the El Dabaa project in Egypt and the tritium removal facility (TRF) project in Romania, which were secured after the inauguration of the Yoon Suk-yeol administration, will begin in October. This will unlock a total of 104 items with a value of 800 billion won (US$603.77 million)
Taiwan’s prominent Korean online community, “Pomosa,” has recently been buzzing with excitement over the “Coupang Taiwan Rocket Delivery” trend. Since the latter half of last year, Coupang has expanded its presence in Taiwan, offering millions of essential products, such as major groceries and daily