Germany has enjoyed an amicable relationship with China. But China’s economic crisis is putting Germany on pins and needles. Voices are growing in Germany that the country needs to decouple from China to reduce risks from internal issues such as a Chinese real estate slump and the US-China conflict.
The world’s largest semiconductor foundry, TSMC, announced on Sept. 19 that it plans to achieve RE100 ten years ahead of its original goal set for 2050. Furthermore, the company has increased its renewable energy consumption goal for 2030 from 40% to 60% of its total consumption.TSMC revealed that,
FuelCell Energy (CEO Jason Few), a global leading company in fuel cell technology innovation, in collaboration with Toyota Motor North America (TMNA, CEO Tetsuo Ogawa), officially announced the successful completion of the “Tri-gen System.”FuelCell Energy's 'Tri-gen' stands as the world's pioneering
The world’s largest semiconductor contract manufacturing company, Taiwan-based TSMC, is considering focusing its investments in Japan as challenges arise with its U.S. expansion.On Sept. 18, according to industry and foreign media, TSMC is considering building additional factories beyond their exist
Samsung Biologics announced on Sept. 18 that it has signed a contract manufacturing organization (CMO) agreement worth US$242 million (321.3 billion won) with BMS. The agreement entails the supply of biopharmaceuticals to BMS over the next seven years, extending until 2030.BMS, ranked 7th globally i
KEPCO KPS, led by CEO Kim Hong-yeon, has secured a power plant maintenance contract in South Africa valued at approximately 850 billion won.KEPCO KPS signed an agreement to maintain 16 thermal and nuclear power stations owned by South Africa's electricity company, ESKOM, at a sum of 848 billion won.
Hyundai Engineering & Construction (Hyundai E&C) announced on Sept. 17 that it participated in the Poland Krynica Economic Forum as a member of a joint public-private South Korean delegation, where discussions were held with Eastern European countries on strategies for entering the next-generation s
On Sept. 14, HD Hyundai’s HD Hyundai Energy Solution announced that it has signed a solar module supply contract with Portugal’s MCA Company amounting to 130 MW. The total contract value is 422 billion won (US$318 million).Under this contract, HD Hyundai Energy Solution will supply approximately 200
South Korea has taken the first step toward injecting US$2.3 billion into Ukraine’s reconstruction.The Ministry of Land, Infrastructure and Transport (MOLIT) of South Korea organized the first public-private Ukraine Reconstruction Cooperation Delegation and sent the delegation to Ukraine’s capital c
Samsung C&T’s Trading & Investment Division announced on Sept. 14 that its U.S. renewable energy subsidiary, Samsung C&T Renewables, has signed a sale and development service agreement for a 3 gigawatt (GW) solar and energy storage system (ESS) project in southern Texas with Sunraycer Renewables, a
The Arion-SMET, a multipurpose unmanned vehicle developed by Hanwha Aerospace, will undergo a performance test at a US Marine Corps training center.Hanwha Aerospace announced on Sept. 4 that it recently signed a contract on the Foreign Comparative Testing (FCT) Program with the U.S. Department of De
The investment company SK enpulse of SKC’s semiconductor material business announced on Sept. 13 that it will sell its wet chemical business, currently operated in China, to local semiconductor and display material company Yaker Technology, and its cleaning business to investment specialist Sunyang
The Supreme Court of Korea has justified the Korea Fair Trade Commission (KFTC)’s decision to punish Citibank and JPMorgan Chase for allegedly colluding to bid on a currency swap contract. The ruling means that if a bidder cooperates with another participant during a bidding process to agree on the
South Korean defense firms holding approximately 70 trillion won in order backlogs are actively moving forward with facility investments.According to industry sources on Sept. 12, Korea Aerospace Industries (KAI) plans to invest 1.408 trillion won (US$1.062 billion) in facility establishment and pur
South Korea’s semiconductor industry is focusing on improving its financial health in the second half of the year, pivoting around High Bandwidth Memory (HBM) for DRAM and reducing NAND output.On Sept. 12, the semiconductor sector anticipates that DRAM prices will cease their decline and enter a sig
HD Hyundai Heavy Industries, Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering), and Samsung Heavy Industries, the top three in the domestic shipbuilding industry, have finalized this year’s wage and collective bargaining agreements in a timely manner. With an enhanced production capac
HD Hyundai’s HD Hyundai Electric announced on Sept. 10, local time, that it has signed a contract worth 678 billion won with Saudi’s power transmission and transformation construction specialist Al Gihaz. The products procured this time are intended for the “Mountain Substation,” which Al Gihaz is n
It has been revealed that domestic construction companies are displaying strong performances in overseas construction orders this year.According to the International Contractors Association of Korea on Sept. 10, the amount of overseas construction orders for the past January to August reached US$21.
As the power struggle between the U.S. and China continues, recent moves by Middle Eastern countries, long-standing allies and the largest weapon importers from the U.S., are noteworthy.According to industry sources and foreign media on Sept. 9, Saudi Arabia, Qatar, Kuwait, and the United Arab Emira
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