Chinese shipyards are sweeping up orders for methanol-powered ships, an eco-friendly, low-carbon type of vessel, as South Korea’s shipbuilding industry seeks to take orders for high-value vessels. In particular, China is expanding orders based on its capacity to produce and supply methanol, raising
ONDA, a South Korean hospitality technology startup, has forged a strategic partnership with Dunqian International, a leading Taiwanese hotel group, to promote tourism in Taiwan.ONDA announced it has signed a Memorandum of Understanding (MOU) with Dunqian International, Taiwan's leading smart hotel
The South Korean battery industry, on the brink of achieving an annual export milestone of US$10 billion, has seen a slowdown in its growth momentum. This deceleration is attributed to a reduction in battery demand due to a slowdown in electric vehicle (EV) demand, along with the relocation of produ
Hanwha Group is showcasing its cutting-edge aviation technology, including fighter jet engines, to countries in the Middle East, including Saudi Arabia.Hanwha Aerospace, Hanwha Systems, and Hanwha Ocean, the defense affiliates of Hanwha Group, announced their participation in the World Defence Show
South Korea has emerged as the leader in mobile communication speed among major countries in the Asia-Pacific region, with its 5G technology also ranked as the fastest globally.According to OpenSignal, a British market research firm, South Korea recorded the fastest mobile download speed of 140.2 Mb
The government plans to allocate 910 billion won (US$679.87 million) to a seed fund, intending to establish a 1.7 trillion won venture capital. Notably, the government’s investment is scheduled to be executed entirely within the first quarter, providing a ray of hope for the cash-strapped venture in
The government has announced its plan to expand the global Korean cuisine industry to a scale of 300 trillion won by 2027. The strategy involves increasing the number of overseas Korean restaurants to 15,000 and more than tripling the number of Michelin-starred Korean restaurants compared to the cur
The upcoming introduction of Alibaba Group’s B2B shopping platform “1688.com” to the domestic market has raised concerns within the domestic e-commerce industry. The sector is already grappling with the competitive pricing strategies of Chinese direct procurement platforms such as AliExpress and Tem
Hana Securities announced on Feb. 1 that it is establishing a foreign investment solution team to expand its customer base to non-resident foreigners.Last year, the foreign investor registration system, which had been criticized as one of the obstacles for foreign investors in domestic investments,
Hahn & Company, South Korea’s largest private equity firm, announced today that it has acquired 100% of the SK Group’s semiconductor fine ceramics business for US$270 million (KRW360 billion). Under Hahn & Co.’s ownership, the company will operate under a new name, Solmics.Solmics produces high-puri
U.S.-based Aptiv, Hyundai Motor Group’s partner in autonomous driving technology development, will stop funding for its joint venture with the Korean automaker Motional. After six years of preparations, the company’s commercialization of unmanned autonomous taxis (robotaxis) has been delayed and its
South Korea’s exports posted double-digit growth in January, led by a recovery in semiconductor exports.Korea’s exports totaled US$54.69 billion in January, while Korea’s imports totaled US$54.39 billion, according to the Korean Ministry of Trade, Industry and Energy (MOTIE).Exports increased 18 per
Hironic, a specialist in beauty medical devices, announced the signing of a four-party memorandum of understanding (MOU) on Jan. 31 at the JW Marriott Hotel Seoul with the City of Taylor, Texas in the U.S.; Mastern America LLC; and The Economic Development Corporation (EDC) of Taylor, Texas.This MOU
The U.S. semiconductor equipment industry has voiced the opinion that companies from allied countries, including South Korea and Japan, should also be subject to the same level of comprehensive regulations that they face in the process of exporting to China. There is speculation within South Korea t
Sam Altman, CEO of OpenAI, who visited Korea to expand the artificial intelligence semiconductor ecosystem and met with top executives of Samsung Electronics and SK hynix, is now set to visit American semiconductor firm Intel.According to industry sources on Feb. 1, Intel CEO Pat Gelsinger announced
Samsung Electronics has partially halted the construction of its fifth semiconductor plant in Pyeongtaek, Gyeonggi Province.According to industry sources on Feb. 1, Samsung C&T sent a notice to some subcontractors at the construction site of the fifth plant on Jan. 30, stating that “due to the circu
IMM Investment has joined the United Nations Principles for Responsible Investment (UN PRI) to strengthen responsible investment.As of January 2024, IMM Investment announced that it officially signed and completed the formal membership process with the UN PRI. IMM Investment stated that the membersh
The sale of ECORBIT, which is considered the key element in the normalization of Taeyoung Engineering & Construction, is gaining momentum with the selection of lead managers. UBS and Citigroup Global Markets Securities, two global investment banks (IBs), have been assigned the task.According to sour
Cho Dong-chul, the president of Korea Development Institute (KDI), publicly issued a stark warning on government debt, going so far as to state, “The country will collapse.” In particular, he cautioned that South Korea’s national debt-to-gross domestic product (GDP) ratio could skyrocket to over 250
The pharmaceutical patent disputes between domestic biosimilar companies and original pharmaceutical firms are escalating.According to industry sources on Jan. 31, Samsung Bioepis and Celltrion are embroiled in patent disputes with original pharmaceutical companies.Alexion Pharmaceuticals, a subsidi