Hanwha Systems initiated its operations in 1978 with the production of night vision goggles, one of its electronic optical products. Today, the company stands as a radar sensor and communication specialist, leading the forefront in the advanced defense electronics industry. Hanwha Systems offers ind
Specialized organizations have predicted that the impact of China’s graphite export control will be resolved within three months. This is because there have been similar cases in the past and it is difficult for China to consume all the graphite produced in China alone. However, South Korean battery
Founded in 1977, Hanwha Aerospace has become a leading company in the aerospace industry in South Korea. Today, its products serve not only aerospace but also the defense and marine sectors. With an unwavering focus on customer-centric quality management, technological innovation, and product compet
In the third quarter (July-September) of this year, the Korean economy continued to grow thanks to a recovery in exports and consumption in the private sector. However, uncertainties surrounding outlooks on growth for the fourth quarter have increased with consumer and business sentiment deteriorati
There seems no end in sight in the growth of Korea’s trade deficit with China. This is due to a significant drop in Korea’s exports of high-tech products such as semiconductors and displays to China.Korea’s exports and imports from China reached US$91.6 billion and US$107.3 billion, respectively, in
The KOSPI index has fluctuated amid consecutive adverse developments, returning to its January levels. Compared to the annual high of 2,667.07 on Aug. 1, it has declined by 13.7 percent.On Oct. 26, the KOSPI index closed at 2,299.08, marking a 2.17 percent decline, while the KOSDAQ index concluded a
During his six-day state visits to Saudi Arabia and Qatar, President Yoon Suk-yeol secured business contracts totaling $202 billion (27.3 trillion won). With these trips, he concluded his diplomatic rounds with the “Big 3” Middle Eastern countries, which began with a visit to the United Arab Emirate
On Oct. 26, KGC Korea Ginseng Corporation announced its participation in North America’s largest health food ingredient exhibition, SupplySide WEST 2023.For the first time this year, KGC Korea Ginseng Corporation operated a JUNG KWAN JANG booth at the ingredient exhibition, showcasing a variety of r
South Korea’s defense industry is projected to post robust results in the third quarter, with both sales and operating profits expected to increase compared to last year.According to industry sources on Oct. 26, as third-quarter results for domestic defense companies are to be announced by the end o
The Korea-Canada Project Exploration and Investment Collaboration Business Forum was held at the Four Seasons Hotel in the Jongno district of Seoul on Oct. 25.The Korea Trade Insurance Corporation (K-SURE) held a joint meeting with the Export Development Canada (EDC) on Oct. 25 to strengthen the exp
Hyundai Rotem, as a leading contender in the terrestrial weapon systems, is recognized globally for its top-tier competitive and technological prowess. Its market strategy includes an impressive portfolio of terrestrial weapon systems from the latest K2 tanks to wheeled armored vehicles and a compre
On Oct. 24, Yoon Hee-sung, the president of the Export-Import Bank of Korea (KEXIM), stated that he anticipates the scale of the second round of defense exports to Poland to be “slightly larger than 30 trillion won (US$22.26 billion).”During a parliamentary audit of the National Assembly’s Strategy
Chairman Kang Seok-hoon of Korea Development Bank has expressed his intention to not push for a forced sale in connection with the shipping company HMM. Regarding the merger of Korean Air and Asiana Airlines, he mentioned the possibility of a low recovery of public funds and put pressure on the Asia
Medytox announced on Oct. 24 that it has withdrawn its application to China’s National Medical Products Administration (NMPA), which was filed in 2018 for the import of its Meditoxin product (export name: Neuronox). Instead, the company will actively push for its entry into the Chinese market with i
China’s move to control exports of graphite, a key raw material for secondary batteries, beginning from the end of the year has put the Korean battery industry on alert. The Korean industry is more than 90 percent dependent on China for graphite. This means that it is a real challenge for the indust
During President Yoon Seok-yeol’s state visit to Saudi Arabia, a total of 46 memoranda of understanding (MOUs) and contracts were signed at the 2023 Korea-Saudi Investment Forum. This signifies a boost in economic cooperation between the two nations across various industries, including electric vehi
A video of a worker urinating on raw materials at a Tsingtao Beer plant in China has raised questions about whether the video will make a change in the imported beer market in Korea.“Korea is highly concerned about food hygiene and has some anti-China sentiments, so the video is bound to give the ne
A forecast suggests that South Korea’s potential growth rate will fall below 2 percent for the first time this year and is expected to further decrease to 1.7 percent next year. The factors contributing to the decline in growth rate include issues related to low birth rates, an aging population, and
LS Cable & System announced a plan to build a submarine cable production plant in the United States in a press conference held at LS Cable & System’s Donghae factory on Oct. 19.“We have confirmed the construction of a plant in the United States and are considering building a plant in Europe,” Kim Hy
The Korea Chamber of Commerce and Industry (KCCI) suggested in a report that Korea cooperate with major Middle Eastern countries such as Saudi Arabia, the United Arab Emirates (UAE), and Qatar in the fields of future energy, electric vehicles and defense.The KCCI released the report on economic coop