In February, automobile exports, production, and domestic sales declined from the same month of 2023 and the previous month of January.The descent was attributable to a slowdown in the growth of electric vehicle sales in both the Korean and overseas markets, as well as a drop in production and shipp
While major countries such as the United States, Japan, and the European Union (EU) are rushing to provide subsidies for semiconductors, there are growing voices that Korea will lose the global semiconductor war if it does not subsidize Korean companies such as Samsung Electronics and SK hynix, citi
The European Patent Office (EPO) announced on March 19 (local time) that it had received a record number of patent applications in 2023. This indicates the attractiveness of the European technology market and the increase in research and development investments by companies.In 2023, the number of pa
Patent applications originating from the Republic of Korea at the European Patent Office (EPO) grew by 21% last year, according to the EPO’s Patent Index 2023 published today. This was the highest growth rate among the 20 leading innovating countries, and more than five times the average growth at t
Sam Bird (GBR) beats the heat with the Hankook iON Race to win the ABB FIA Formula E World Championship race in the Brazilian megacity of São Paulo. Despite an ambient temperature of 35 degrees, rising to around 60 degrees on the asphalt at the 2.933-kilometer high-speed circuit around the Anhembi S
Kumho Tire plans to invest more than 1 trillion won to build its inaugural factory in Europe by 2027. The company intends to evaluate incentives and tax benefits pledged by four countries -- Romania, Serbia, Portugal, and Turkey -- including the size of subsidies, before finalizing the factory’s loc
On March 13, the U.S. House of Representatives passed a bill to ban TikTok, a Chinese video platform, from being downloaded in the United States due to security concerns. The bill was approved with an overwhelming majority of 352 votes in favor and 65 against. Europe is also engulfed in national sec
For the fourth consecutive month, semiconductor exports have shown double-digit growth rates, leading the charge in exports. With increases in exports across various components such as displays and computer/peripheral devices, the Information and Communication Technology (ICT) sector as a whole is s
Hyundai Mobis has reportedly surpassed the production record of 51 trillion won last year. This achievement is attributed to the increased orders for global completed cars, including those from Hyundai Motor and Kia Motors.According to the business report disclosed by Hyundai Mobis on March 12, the
As the global semiconductor war has become a hot race among nations, major countries such as the United States, China, and Japan have been providing large cash support to their own companies or foreign companies that make investments in their semiconductor industries to boost the growth of their sem
POSCO International has embarked on expanding its electric vehicle component business by signing a contract worth 1.16 trillion won (US$882.46 million) for the supply of rare earth permanent magnets for electric vehicles.The company announced on March 12 that its U.S. subsidiary has recently secured
Kia announced on March 10 that its flagship electric vehicle, the EV9, has been named as the 2024 U.K. Car of the Year.The U.K. Car of the Year is selected each year by a 30-member judging panel of locally based automotive journalists who vote on vehicles launched in the last 12 months. Participatin
SK ecoplant has partnered with the global resort company Therme Group to advance the development of a European-style spa and resort in Songdo.On March 8, SK ecoplant announced the signing of a memorandum of understanding (MOU) with Therme Group for the resort development and construction, as well as
Samsung Bioepis announced on March 10 the clinical results of SB5, a biosimilar to the blockbuster drug Humira, at the American Academy of Dermatology (AAD) Annual Meeting held in San Diego, California, in the U.S. on Feb. 8 (local time). This study aimed to verify whether SB5 can be interchangeably
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company broke ground on a major expansion of its vaccine manufacturing plant, L HOUSE, located in Andong, Gyeongsangbuk-do, South. The groundbreaking c
KEB Hana Bank announced that its German subsidiary, “KEB Hana Bank Germany,” has obtained an international credit rating of “Aa3” from Moody’s, one of the world’s top three credit rating agencies.KEB Hana Bank (D) AG, a wholly-owned subsidiary of KEB Hana Bank, has been operating in Frankfurt, Germa
Seoul Semiconductor announced on March 5 that it has filed a patent lawsuit against global retailer Amazon in the Unified Patent Court in Europe seeking a ban on the sale of infringing products.Seoul Semiconductor and its affiliates have obtained 15 injunctions against infringing manufacturers and s
Incheon International Airport Corporation (IIAC) announced on March 5 that it signed a memorandum of understanding (MOU) with Munich Airport to expand educational cooperation at the Munich Airport Education Center in Germany on March 4.About 15 people attended the signing ceremony, including IIAC Pr
Since the beginning of this year, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has achieved over 50 percent of its 2024 annual order target within just two months.HD KSOE announced on March 4 that it had signed construction contracts for two medium-sized liquefied petroleum gas (LPG) carri
Four low-cost carriers (LCCs) -- Jeju Air, Air Premia, Eastar Jet, and Air Incheon -- participated in a preliminary tender for the sale of Asiana Airlines’ cargo business division.The four LCCs submitted letters of intent (LOIs) after UBS, the sale organizer, finished accepting LOIs for the prelimin