LG Chem, Korea’s largest petrochemical company, will shut down its styrene monomer (SM) plant at the end of March. SM is widely used in the manufacture of various petrochemical products. The company is also reportedly considering abandoning production of ethylene oxide (EO) and ethylene glycol (EG),
Taiwan’s TSMC, the worldwide leader in the semiconductor foundry industry, has surpassed 60 percent of the market share, widening its gap between with second-ranked Samsung Electronics. In the fourth quarter (October-December) of 2023, the foundry market grew about 8 percent from the previous quarte
After a period of downturn due to economic slowdown and weak demand for IT devices, the display industry is on the verge of a significant rebound. The surge in demand for Organic Light Emitting Diode (OLED)-based displays for laptops and tablets, driven by the artificial intelligence (AI) boom, is a
Global Con-tech Company Angelswing has won first in the ‘Rocket Fuel Pitch Competition’ at Saudi's LEAP 2024, securing the Technology for Humanity Award.LEAP 2024, held under the auspices of the Saudi Ministry of Communications and Information Technology (MCIT) from the 4th to the 7th of March in Ri
Samsung Display has begun the construction of the world’s first 8.6th generation organic light-emitting diode (OLED) production line. As major manufacturers such as Apple are increasing the proportion of OLED displays instead of liquid crystal displays (LCDs) in the laptop and tablet markets, Samsun
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 Display CEO Choi Joo-sun has expressed confidence that Korea will reclaim the top spot in the global display market by 2027. Speaking to reporters before the Korean Display Industry Association’s general meeting at Lotte Hotel World on March 7, Choi emphasized the need for focus and speciali
Naver Team announced on March 5 that it signed a partnership with Aramco Digital, a subsidiary of Saudi Aramco, to foster digital innovation in the Middle East and North Africa (MENA) region, including Saudi Arabia.Through this agreement, both parties aim to establish a sovereign cloud and super app
On the 27th, the Contech startup Meissa announced that it had visited Abu Dhabi, UAE, as a member of One Team Korea from the Ministry of Land, Infrastructure, and Transport.The Ministry of Land, Infrastructure, and Transport's bid support team, led by Minister Park Sang-woo, visited Abu Dhabi to mat
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
SK Bioscience announced on March 5 that its SKON employee communication application developed by the company won the communication category in the apps and software section at the iF Design Award 2024 held in Germany.This year, the iF Design Award saw competition from over 11,000 entries from 56 cou
Kumho Tire inked a technology export agreement with Saudi Arabia’s Black Arrow Tire Company (Blatco) on Feb. 28.Through this agreement, Kumho Tire will provide Blatco with technology for production of passenger car tires sold in the Middle East, including Saudi Arabia, for 20 years.Blatco, a manufac
South Korea’s exports in February of this year increased by 4.8 percent compared to the previous year, continuing the trend of “export growth” for the fifth consecutive month. Particularly noteworthy is the semiconductor exports, which recorded the highest growth rate in six years and four months. A
At the Huawei Product & Solution Launch held during MWC Barcelona 2024, Bruce Xun, President of Huawei's Global Technical Service Dept, announced the launch of Huawei's digital intelligent series of solutions in the ICT services & software field. New AI technology is applied to solutions such as Int
Naver and Samsung C&T are joining forces to expand their future business ecosystems by leveraging each other’s capabilities. On Feb. 28, Naver Cloud and Naver Labs, along with the Construction Division of Samsung C&T, announced that they have signed a Memorandum of Understanding (MOU) at the Naver 1
LG Electronics and global big tech company Meta are joining forces to develop next-generation extended reality (XR) devices. LG Electronics announced on Feb. 28 that it is officially starting strategic cooperation with Meta to accelerate its XR business.Meta’s CEO, Mark Zuckerberg, visited LG Twin T
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,
Hanwha Group has completed the acquisition of HSD Engine, the world’s second-largest low-speed engine manufacturer for ships, and changed its name to Hanwha Engine.Hanwha Group has announced on Feb. 28 that resolutions were passed during the interim shareholders’ meeting of HSD Engine held on Feb. 2
Huawei hosted the 5G Beyond Growth Summit at MWC Barcelona 2024 today. At the summit, Li Peng, Huawei's Corporate Senior Vice President and President of ICT Sales & Service discussed how carriers can achieve business success in 5G and how 5.5G will further unlock the potential of networks and create
The Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced on Feb. 25 that it held the first Korea-Qatar Smart Farm Cooperation Committee in Doha, Qatar, to promote exchanges and cooperation in the field of smart agriculture between the two countries as a follow-up to an MOU signed betwee