KG Mobility (KGM) announced on Feb. 22 that it posted sales of 116,699 units and 3.78 trillion won (US$2.84 billion), operating income of 5 billion won and net profit of 1.2 billion won based on an unconsolidated basis in 2023.KGM said the results were driven by productivity improvements and cost re
SK telecom announced on Feb. 22 that it has successfully completed the conceptual verification of AI-based wireless transmission and reception technology for future 6G mobile communications for base stations in cooperation with NTT DoCoMo, NTT, and Nokia Bell Lab.The developed technology incorporate
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company has obtained prequalification (PQ) certification from the World Health Organization (WHO) for its typhoid conjugate vaccine (TCV), ‘SKYTyphoid®
Doosan Digital Innovation (DDI) announced that it held the Quantum Accelerator Program Kick-off Event at Doosan Tower in Bundang near Seoul on Feb. 20.The event was hosted by DDI’s Head of Corporate Digital (HoD) responsible for Doosan Group’s IT-DT strategy, and was attended by DDI President Park S
Government officials from Korea, the United States, and Japan have met and agreed to strengthen trilateral cooperation to respond to the changing global environment, including supply chain instability and export controls.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Feb. 22
Cell Biotech announced on Feb. 22 that it has obtained the highest level of safety recognition from the U.S. Food and Drug Administration (FDA), the Generally Recognized As Safe (GRAS) certification, for 11 Korean probiotic strains. Through this validation, Cell Biotech has added certification for 1
HL Group’s HL Mando has officially launched a joint venture with China’s automotive parts company, Tianrun Industry Technology, related to the manufacturing of electric steering for commercial vehicles. The joint venture, Tianrun Mando, will have a total capital investment of 100 million renminbi, w
LG Energy Solution has embarked on establishing a solid supply chain for the expansion of its lithium iron phosphate (LFP) battery business.On Feb. 22, LG Energy Solution announced a long-term supply contract for LFP cathode materials used in electric vehicles (EVs) and Energy Storage Systems (ESS)
South Korea holds the potential to become a global battery supply base, necessitating a national strategy to realize this potential, according to claims made by industry experts. The Korea Chamber of Commerce and Industry’s Sustainability Growth Initiative (SGI) highlighted in its report on Feb. 22,
FILA announced on Feb. 23 that it has successfully installed water filtration systems at several health centers in Cambodia’s Ratanakiri province to contribute to improved living standards for local residents in one of the Southeast Asian country’s most marginalized regions.In line with its key soci
CJ Logistics announced on Feb. 22 that it has established an integrated logistics center for the globally renowned shoe brand Crocs in Icheon, Gyeonggi Province.Spanning an area of 20,000 square meters, the new facility can handle up to 50,000 boxes per day, doubling the capacity compared to the pre
The Export-Import Bank of Korea (Korea Eximbank) announced on Feb. 22 that it has signed a memorandum of understanding (MOU) with Germany’s KfW IPEX-Bank (KfW IPEX) for cooperation in the field of advanced industries and supply chains.KfW IPEX is a subsidiary fully owned by the German federal govern
Root Energy Inc., Korea’s leading renewable energy local acceptance solution provider as well as a certified B Corp, has successfully raised KRW 20 billion (approx. USD 15 million) crowdfunded by residents of Suwon-ri, Hallim-eup, Jeju Island. It makes the Korea’s largest offshore wind farm Jeju Hal
Samsung is set to hire a large amount of foreign talent in the research and development (R&D) sector. According to industry sources on Feb. 21, Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Biologics, Samsung Bioepis, and Samsung Heavy Industries
The Korea Evaluation Institute of Industrial Technology (KEIT) opened the Korea-Germany Supply Chain Technology Cooperation Center at the Fraunhofer Institute for Ceramic Technologies and Systems IKTS in Dresden, Germany, on Feb. 20 to help stabilize global supply chains in key industries.The openin
Kumho Tire has achieved a series of excellent results in a tire performance test conducted by ADAC, a world-class automotive magazine published in Germany.In the summer tire performance test organized by ADAC Magazine, which has a 120-year history and the largest circulation in Germany, Kumho Tire’s
Hyundai Engineering announced on Feb. 21 that its landscape structures “Weaving Garden” and “Cloud Shade” won the Winner award at Asia Design Prize 2024.The Asia Design Prize is the largest international design competition in Asia. This year, Professor Shingo Ando from the prestigious Kyoto Universi
The legal battle between the sons of the founder of Hanmi Pharmaceutical -- Lim Jong-yoon and Lim Jong-hoon -- and the OCI Group has intensified. OCI Group holds a significant stake in Hanmi Science, the parent company of Hanmi Pharmaceutical Group. The legal battle remains on the question of integr
The National Pension Service (NPS) issued an explanatory statement regarding the report by domestic media on Feb. 14, titled “NPS’ Overseas Alternative Investment Assets: Solely Trusting and Passing Verification to Asset Managers.”On the same day, the media reported that the NPS is accepting the pro
Foreign investors who invest in domestic stocks and bonds will see significant improvements in the complex foreign exchange procedures they have faced so far. It is expected that the accessibility of foreign investors to the domestic market and the Korean won will improve.The Bank of Korea and the M