The Ministry of Economy and Finance (MOEF) is hosting the Korea-Africa Economic Cooperation Ministerial Meeting for the first time in five years. Following the minister-level meeting, a joint declaration will also be announced.The MOEF has announced that the 7th Korea-Africa Economic Cooperation Min
Tensions are escalating in the battery market as Chinese companies consistently establish factories in the U.S., leading to some speculating that the Biden administration’s electric vehicle policy has shifted from a “complete exclusion” of China to a “partial allowance.”According to foreign media an
Amid the global restructuring of the semiconductor supply chain, Samsung Electronics and SK hynix are likely to be the most affected by decisions related to U.S. licenses.On Sept. 11, the Korea Institute for International Economic Policy (KIEP) reported in its Global Semiconductor Supply Chain Restr
KT announced on Sept. 11 that it has signed a memorandum of understanding (MOU) with Singapore Post (SignPost), Singapore’s public postal and logistics company, to jointly develop a new business model.Through this collaboration, KT and SingPost will run pilot programs for digital logistics transport
Hankook & Company Group, holding a subsidiary group Hankook Tire, co-hosted ‘The 1st Hankook & Company Group – KAIST AI Competition’ with the Korea Advanced Institute of Science Technology Graduate School of Data Science (KAIST GSDS) to reinforce employee capabilities in areas such as AI and Big Dat
Three defense units of the Hanwha Group (Hanwha Aerospace, Hanwha Ocean, and Hanwha Systems) participated in MSPO 2023, Europe’s premier defense exhibition held in Kielce, Poland, from Sept. 5 to 8 (local time), laying the groundwork for expansion in the European market.On Sept. 5, during MSPO, Hanw
Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho met with Uzbekistan’s Deputy Prime Minister for Economic Affairs to finalize a plan to enable Korean companies to receive an unpaid amount for the Surgil Project after six years.According to the Korean Ministry of Trade, Indust
The Born2Global Center, which supports Information and Communication Technology (ICT) startups in their overseas ventures, is set for a new beginning as a foundation a decade after its establishment.The Ministry of Science and ICT (hereafter referred to as MSIT) announced that the K-ICT Born2Global
Samsung Biologics and Celltrion have made it to the top 10 of the World’s Most Trusted Healthcare Companies, a list jointly compiled by the American weekly magazine Newsweek and global market research firm Statista.According to Newsweek on Sept. 8, Samsung Biologics secured the second position in th
Doosan Enerbility announced on Sept. 8 that it has signed a memorandum of understanding (MOU) with Indonesia Power (IP) concerning the conversion of power plants to eco-friendly operations for the reduction of exhaust gas emissions in Indonesia.Through this agreement, both companies have decided to
Equinor, a Norwegian broad energy company, announced the signing of a Memorandum of Understanding (MoU) with POSCO International on September 7. Under the MoU, the companies will explore a broad energy transition collaboration across offshore wind, hydrogen value chains, steel and LNG supply.The agr
The Export-Import Bank of Korea (Korea Eximbank) announced on Sept. 7 that it has signed a memorandum of understanding (MOU) with Export Finance Australia (EFA) at its headquarters in Seoul to collaborate on stabilizing the core mineral supply chain. EFA, Australia’s official export credit agency, s
South Korea and Japan are set to resume their regular financial supervision meetings, or shuttle meetings, that had been suspended since 2017. Financial Services Commission (FSC) Chairman Kim Joo-hyun plans to visit Japan in early October to discuss expanding financial exchanges. This development co
Of the 1.75 million foreigners living in South Korea in 2022, two out of 10 faced discrimination at shops, restaurants, banks, and workplaces, according to a survey by Statistics Korea.Statistics Korea’s Statistics Research Institute released the results of its analysis on “Foreign Residents’ Lives
A hydrogen engine for passenger cars that uses hydrogen as fuel has been developed for the first time in Korea amid fierce competition for hydrogen mobility technology around the world.A joint research team led by Dr. Choi Young of the Mobility Powertrain Research Center at the Korea Institute of Ma
According to the Federation of Korean Industries (FKI) on Sept. 6, Chairman Ryu Jin, who took office as the 39th chairman, reaffirmed friendly relations by sending congratulatory letters to over 40 partner organizations in major countries and international institutions worldwide. He also proposed th
China is devising strategies to bypass the United States in both semiconductor and electric vehicle (EV) battery sectors. As the Joe Biden administration seeks to exclude China through the Inflation Reduction Act (IRA), Chinese companies are entering full-fledged efforts to neutralize the U.S. block
Yuhan Corp. announced that it will collaborate with Cyrus Therapeutics, a biopharmaceutical company with targeted proteolysis development technology, to jointly develop new anti-cancer drugs and candidates.The two companies will conduct basic research on anti-cancer drug development, the joint devel
KT is set to enhance the performance of its mega-scale AI ‘Mi:dm’ in collaboration with the Vector Institute of Canada, one of the world’s premier AI research institutions.On Sept. 5, KT revealed that it had discussed collaboration in the mega-scale AI domain with the Vector Institute at the KT Inst
Vice Chairman Kim Dong-kwan of Hanwha met with President Andrzej Duda of Poland during the afternoon of Sept. 5, local time, at the Hanwha booth at the MSPO, Poland’s International Defense Industry Exhibition.Vice Chairman Kim explained to President Duda about Hanwha’s cutting-edge technology that e