GM Korea has reached the milestone of 10 million cars in exports in its 21st year in Korea with vehicles ranging from the Chevrolet Aveo and the Spark to recent models such as the Trailblazer and the Trax Crossover.GM Korea announced on Dec. 7 that it has crossed the 10 million unit mark in cumulati
A top European Commission (EC) official has given a positive assessment for the first time to remedial measures submitted by Korean Air to the EC for its merger with Asiana Airlines.“We have seen very positive progress on some of the proposals in Korean Air’s remedial measures,” EC Justice Commissio
EOFLOW announced on Dec. 7 that it has terminated its acquisition contract with Medtronic, which was initially signed in May. The company disclosed the termination of the acquisition contract with Medtronic, leading to the withdrawal of the paid-in capital increase and the annulment of the stock tra
Doosan Robotics has set the goal to become the leading company in the global collaborative robot market, excluding China. A collaborative robot refers to a robot that works in the same space as humans. To achieve this, the company plans to expand its product lineup from 13 to 17 models by 2026 and a
A Chinese state-run think tank expressed the view that South Korea’s concerns sparked by China’s recent withholding of customs clearance for urea exports from China to South Korea can be resolved through friendly negotiations.“Two years ago, during a urea shortage situation in South Korea, China urg
Automakers are making changes in their strategies as they grapple with the increasingly complex rules of the Inflation Reduction Act (IRA), which subsidizes electric vehicles built in North America while excluding Chinese supply chains. Some automakers are looking to keep Chinese companies as partne
Mirae Asset Global Investments announced on Dec. 5 the listing of two new Exchange Traded Funds (ETFs) on the Korea Exchange: the “TIGER U.S. Tech TOP10INDXX (H) ETF (472160)” and the “TIGER U.S. Tech TOP10 Bond Mixed ETF (472170).”The TIGER U.S. Tech TOP10INDXX (H) ETF invests in the top 10 market
The new regional head of the Hyundai Motor’s labor union, the largest single union in the country, has pledged to introduce a “4-day workweek” starting next year. This commitment has reignited the debate over reduced working hours, often described as a “hot potato” in the industry.On Dec. 6, Hyundai
In a collective lawsuit related to suspicions of intentional performance degradation of the Apple iPhone smartphone in the United States, some domestic consumers have won a partial victory.On Dec. 6, the 12-3 Civil Division of the Seoul High Court ruled in favor of seven consumers in the appeal tria
SK Group Chairman Chey Tae-won, who visited Washington, D.C., on Dec. 4 (local time) reiterated his proposal for the formation of a trilateral economic union, saying, “If South Korea and Japan develop into a single market-type economic partnership like the European Union, it will not only create tre
The government is opening up industrial research and development (R&D) to foreign institutions to discover and develop key technologies in areas vulnerable to becoming weak links in South Korea’s flagship industry value chains, such as “technology critical for leapfrogging,” “next-generation growth-
Samsung Electronics and TSMC are building semiconductor ecosystems around their foundry plants in the United States, engaging in a fierce battle to secure customer orders.According to industry sources on Dec. 5, Amkor, the world’s second-largest packaging company, announced on April 30 an investment
"NPCore," a specialized artificial intelligence-based cybersecurity solutions company led by CEO Han Seung Chul, has been awarded the "Top Exporter of One Million Dollars" by the Korea International Trade Association. The company has continuously challenged itself to expand into overseas markets, wi
Due to a slump in the global economy, auto demand is expected to decline in Korea and Korea’s car exports are expected to increase slightly as Korean car makers still have waiting orders. Therefore, Korea’s car production is expected to remain flat next year.The Korea Automobile and Mobility Associa
Korea Hydro & Nuclear Power (KHNP) has signed a memorandum of understanding (MOU) with Nusantara Power, a subsidiary of the Indonesian electric power company PLN, for the introduction and construction of innovative Small Modular Reactors (SMR) in Indonesia. The MOU was signed on Dec. 1 (local time)
South Korea’s exports rose nearly 8 percent in November, marking the second month of growth after October. According to November import and export trends released by the Ministry of Trade, Industry and Energy (MOTIE) on Dec. 1, exports reached US$55.8 billion last month, up 7.8 percent from the same
The U.S. government has clarified a regulation denying subsidies for electric vehicles with parts made by Chinese state-affiliated companies by stating that it includes joint ventures with foreign entities outside of China if the ownership stake of the Chinese company in the venture exceeds 25%. It
SK Group Chairman Chey Tae-won has proposed the formation of an economic partnership between Korea and Japan to proactively address the changes to the global economy caused by geopolitical conflicts and divisions.“The era of a single global market has passed due to geopolitical conflicts, climate ch
General Motors (GM) has asked LG Energy Solution to give the U.S. automaker up to 85 percent of the advanced manufacturing production credits (AMPCs) which the Korean automaker will receive through their U.S. battery joint venture, according to industry sources on Nov. 30. This is much more than GM’
Samsung SDI, which has been restructuring its battery materials business and strengthening its capabilities in battery cell manufacturing, is now actively investing in cathode materials. The company’s shift in focus has drawn significant attention as it departs from its previous strategy of streamli