With Chinese authorities set to begin controlling graphite exports, a key raw material for anode materials for batteries, in December, they held an event with Korean companies only to explain how they will enforce their export control policy.This was the first time China, which has played the weapon
Hyundai Motor Group and U.S.-based company Aptiv’s autonomous driving joint venture, Motional, are starting production of the IONIQ 5 Robotaxi in Singapore.According to Motional on Nov. 22, production has begun at the Hyundai Motor Group Singapore Global Innovation Center (HMGICS) for the IONIQ 5 Ro
This year marks the first time that the number of countries importing Korean kimchi has surpassed 90. The global popularity of Korean kimchi, often attributed to the Hallyu wave and health trends such as vegetarianism, is leading the way in showcasing K-food on the international stage.According to t
The Korea Startup Forum (Chairman Jae-Wook Park, hereinafter referred to as KSF), the organizing organization of the global startup festival COMEUP, announced that COMEUP 2023, which was held at Dongdaemun Design Plaza (DDP) for three days from November 8 to 10, attracted about 66,000 people. It was
Korea has only 0.5 percent of the world’s specialized AI talent. Out of 30 countries, Korea placed only 22nd in AI talent retention.The Federation of Korean Industries (FKI) released a report on AI Talent Acquisition Strategies and Implications for Korea, the United States and China on Nov. 20. The
“An accelerated reorganization of global supply chains that began after the U.S.-China hegemony war has led to the emergence of alternative countries as alternative production bases that can replace China,” said Lee Sang-won, head of product strategy at Korea Investment Management at an India & Viet
Korea’s real gross domestic product (GDP) is expected to rise by 2.0 percent next year from this year, according to the state-run Korea Institute for Industrial Economics and Trade (KIET) in its 2024 Economic and Industrial Outlook report released on Nov. 20. The relatively conservative forecast is
Hyundai Motor Group’s three car brands -- Hyundai, Kia and Genesis -- sold 173,428 units in the U.K. passenger car market in the first 10 months of this year, up 8.7 percent year on year, according to the Society of Motor Manufacturers and Traders (SMMT) on Nov. 20. Their market share stood at 10.8
The export revenue of ramen, which celebrates its 60th anniversary this year, has surpassed 1 trillion won for the first time in history.According to trade statistics from the Korea Customs Service on Nov. 20, the export revenue of ramen for the first 10 months of this year reached US$785.25 million
South Korean conglomerates, including Samsung and LG, are set to unveil new home appliances, mobile technologies, and mobility (automotive) solutions at CES 2024, the world’s largest electronics trade show held in the United States, embarking on extensive promotional activities.According to industry
SK ecoplant, in collaboration with EcoPro and TES, is set to establish a battery recycling plant in Hungary. This strategic move will capitalize on Hungary's status as a European Battery Production Hub, where a number of global battery and electric vehicle companies are present, ensuring a steady su
As Korea, China, and Japan continue to compete in the world shipbuilding market, China took the lion’s share of large oceangoing vessel orders in 2022, according to a report.According to an annual report on the shipping and shipbuilding markets by ship brokerage firm Barry Rogriano Salis (BRS) Group
In the ratio of corporate debt to South Korea’s gross domestic product (GDP), it has been revealed that the country has moved from the fourth to the third position globally in just three months.According to the world debt report released by the Institute of International Finance (IFF) on Nov. 16, co
As a result of President Yoon Suk-yeol’s visit to the United States for the Asia-Pacific Economic Cooperation (APEC) summit, four American companies, including General Motors (GM) and DuPont, have decided to invest a total of US$1.16 billion in South Korea.The Ministry of Trade, Industry, and Energy
Kolmar Korea Holdings has been recognized as a leading company in sustainable management in South Korea for the second consecutive year, owing to its achievements in environmental, social, and governance (ESG) management.The company announced on Nov. 16 that it was appointed to the 2024 Lead Group d
Contrary to the prevailing pessimism earlier this year, foreign media analysis suggests that the South Korean economy is exhibiting an encouraging trend.In his column on Nov. 15 (local time), Bloomberg opinion columnist Daniel Moss assessed the South Korean economy stating, “Critical exports are in
Korea Zinc is constructing an “All-in-One Nickel Smelter” in Ulsan incorporating state-of-the-art eco-friendly smelting technology.On Nov. 15, Korea Zinc held a groundbreaking ceremony for the nickel smelter in the Onsan Industrial Complex in Ulju County, Ulsan, which will have an annual production
Hyundai Engineering announced on Nov. 16 that it participated in the 2023 Rebuild Ukraine Exposition, held in Warsaw, Poland, from Nov. 14 to 15, and signed two memoranda of understanding (MOUs) for cooperation in “Modular Construction Projects” and “Fertilizer and Chemical Business.”Hosted by Ukrai
Pulmuone USA announced on Nov. 15 the expansion of its fresh noodle production line at its facility in Gilroy, California, initiating full-scale operations early last month. This enhancement enables an annual production capacity of 24 million packs (based on 190 g per pack) of fresh noodles, a move
According to the Korean Ministry of Strategy and Finance on Nov. 14, Korea’s overseas direct investment (ODI) totaled US$15.31 billion from the first quarter to the second quarter of 2023. The amount was 22.9 percent lower than US$19.84 billion a year ago. The decline was the largest in 14 years sin