The Namdong district of Incheon Metropolitan City houses the Namdong National Industrial Complex, playing a pivotal role in driving the Korean economy. The industrial complex, established in December 1989, is a key metropolitan industrial area with an annual production value of approximately 30 tril
KEPCO KPS has signed a trilateral memorandum of understanding (MOU) with X-energy and DL E&C for the development of technology and business related to non-light water reactor-type fourth generation small modular reactors (SMRs).Under this agreement, the three parties, including KEPCO KPS, will colla
The South Korean government has approved new projects worth 13.8 trillion won (US$11.5 billion) under the Economic Development Cooperation Fund (EDCF) to be implemented by 2026, with 6.5 trillion won to be disbursed. Established in 1987, the EDCF is a fund for concessional loans aimed at supporting
Pernod Ricard Korea, the Korean affiliate of the Pernod Ricard Group, donated KRW 100 million in scholarships to 54 students of National Gugak Schools to develop the Gugak (traditional Korean music) culture and to foster Gugak talents.Minju Ji, HR & Corporate Affairs Director of Pernod Ricard Korea,
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.While Secretary Yellen's key goal in 2023 was to secure TGA cash despite a massive fiscal deficit, the one for 2024 is to be improving the fiscal balance by using the tax revenue surplus. This implie
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
U.S. President Joe Biden smiles in the Roosevelt Room of the White House as he listens to a presentation by Chey Tae-won, the chairman of SK Group, via video on July 26, 2023.SK hynix is contemplating the establishment of a semiconductor packaging plant in the United States.According to multiple for
SoftBank Ventures Asia is officially changing its company name to SBVA from beginning of February 1st after The Edgeof acquired the company from SoftBank Group Corp.(SBG) in June of last year. The new SBVA embraces the concept of technological singularities and the broader impacts of the virtues of
Experts are anticipating that the economic growth rate for South Korea will reach 2.2 percent this year. This aligns with the forecasts presented by the government and the International Monetary Fund (IMF), both indicating a 2.2 percent growth. It slightly surpasses the Bank of Korea’s projection of
The Ministry of Trade, Industry and Energy plans to inject 100 billion won into companies in advanced strategic industries and key supply chain sectors that are returning (U-turn) to Korea this year. This marks a 75% increase from the previous year. The corporate tax reduction period will be extende
Korea Water Resources Corporation (K-water) participated in CES 2024 held in Las Vegas, Nevada, the U.S., from Jan. 9 to 12. It was joined by 19 partner companies, collectively providing opportunities for global market expansion.K-water’s booth attracted numerous global buyers, investors, accelerato
The government’s new entrusted operating funds for the Korea Investment Corporation (KIC), the sovereign wealth fund, have effectively ceased from 2022 until last year. Some argue that the KIC faces concerns about its international competitiveness. In a landscape where competing sovereign wealth fun
Household and corporate debt as a percentage of the gross domestic product (GDP) has decreased for the first time in five years and nine months, signaling a trend of adjustment for the surging debt due to the COVID-19 pandemic.According to preliminary third-quarter cash flow data released by the Ban
The prosecution has launched a forcible investigation into Kyungbo Pharmaceutical, accused of providing billions of won in rebates to hospitals.The Food and Drug Crime Investigation Division of the Seoul Western District Prosecutors’ Office (Chief Prosecutor Song Myung-sub) announced that they condu
Poland, on the brink of a regime change for the first time in eight years, faces concerns that defense equipment contracts signed with South Korea could be nullified following the general elections in October.According to Reuters on Dec. 10 (local time), Simon Holownia, a member of the opposition al
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
As China’s economy has expanded its independence in intermediate goods, it will be difficult for South Korea to enjoy the same benefits as in the past, according to a report on China’s growth structure transition process and the ripple effects released by the Bank of Korea (BOK) on April 4. The repo
Hanwha Systems has announced the successful launch of its self-developed “Small SAR Satellite” from the seas south of Jeju Island at exactly 2:00 p.m. on Dec. 4. This launch marks a significant milestone as it represents the first domestic development of such a satellite in South Korea. The launch v
Autonomous a2z, a member of the Venture Enterprise Association and an autonomous driving startup, disclosed on Nov. 27 that it has signed a memorandum of understanding with Horiba Mira from the U.K., focusing on future mobility.In October, Autonomous a2z successfully completed a Series B funding rou
The government has decided to extend financial market stabilization measures, currently operating at a scale of 37.4 trillion won (US$28.77 billion), until the end of next year. Additionally, flexibility measures in financial regulations, such as the banks’ liquidity coverage ratio (LCR) and the res