Domestic construction companies have shown a consecutive two-year increase in the amount of construction projects secured overseas, riding an upward trend.According to the International Contractors Association of Korea (ICAK) on Jan. 22, the total value of construction projects secured by domestic c
Samsung Biologics announced on Jan. 22 that it has been awarded the Platinum medal, the highest rating given only to the top 1% of companies, in Environmental, Social, and Governance (ESG) evaluation by EcoVadis, a global sustainability assessment firm.Established in France in 2007, EcoVadis evaluat
Eric Sangyub Sung, chairman of the Korea Venture Business Association and CEO of Intellian, emphasized the necessity of globalization for the growth of venture businesses. In a New Year’s event for the innovative venture industry held on Jan. 19 at EL tower in the Seocho district of Seoul, Chairman
The government is set to implement a comprehensive plan for “smart cities” incorporating new technologies. The primary focus is accelerating the entry into foreign markets through the restructuring of the “K-City Network” project. This initiative aims to strengthen the global competitiveness of Kore
Samsung Biologics is expected to continue to post the highest growth rate in the global contract development manufacturing organization (CDMO) industry this year after posting record-high business results in 2023.A consensus forecast for Samsung Biologics’ revenue growth was 22 percent last year, ac
South Korea’s six major high-tech strategic industries have seen their shares in export markets plummet, losing ground to rival countries. The six strategic industries include semiconductors, displays, secondary batteries, future vehicles, biotech, and robotics.The six industries’ exports in 2022 wa
South Korea should increase its semiconductor exports to China regardless of its relations with the United States in order to develop its semiconductor industry, a Chinese media outlet asserted.“Given that South Korea’s economy is heavily dependent on the semiconductor industry, it is understandable
Pernod Ricard Korea, the Korean division of the wine and spirits company Pernod Ricard, will operate a pop-up space featuring Glenburgie, a single malt released by its modern classic Scotch whisky brand Ballantine’s, at Lotte World Mall Atrium from January 24 to February 12.Ballantine’s Glenburgie s
Hana Bank announced on Jan. 17 (local time) that it has been honored with the “Best Trade Finance Provider in Korea 2024,” an award presented by the global financial and economic publication Global Finance.With the latest award, Hana Bank has achieved a remarkable feat by winning the “Best Trade Fin
Hanwha Life Insurance President Kim Dong-won attended the Davos Forum held in Switzerland from Jan. 15 to 19.Visiting Davos for the second consecutive year, President Kim Dong-won conducted over 10 business meetings during the event. He focused on determining the direction of Hanwha Life Insurance’s
LG Chem announced on Jan. 18 that it has signed a master agreement in Rome, Italy, with ENI to establish a joint venture for next-generation bio-oil. The signing ceremony was attended by key figures including Claudio Descalzi, CEO of ENI; Stefano Ballista, CEO of ENI Live; Vice Chairman Shin Hak-che
Hyundai Motor India Ltd. (HMIL) has completed acquisition and assignment of identified assets at General Motors India’s Talegaon Plant in Maharashtra. The acquisition has been completed post fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and
Samsung Electronics has incorporated its next-generation mobile application processor (AP), the Exynos 2400, into the latest premium smartphone, the Galaxy S24 series.On Jan. 17, Samsung Electronics hosted Galaxy Unpacked 2024 at the SAP Center in San Jose, California, in the U.S., where they unveil
Minister of SMEs and Startups Oh Young-Ju met with the startup winners of the CES 2034 Innovation Awards on Jan. 18 for a discussion.The meeting, held at the Seoul Center for Creative Economy & Innovation, aimed to encourage the representatives of the winning ventures and startups and to listen to t
LG Innotek is speeding up its entry into the camera market for autonomous driving and the optical component market for Extended Reality (XR) by joining forces with a global lens manufacturing enterprise.LG Innotek announced on Jan. 18 that it has signed a main contract with AOE Optoelectronics, a Ta
Almac, a Korean electric vehicle (EV) parts company, announced on Jan. 18 that it has signed a new contract with Kenona, a U.S. EV parts company, to supply EV platform frame parts worth 10.7 billion won (US$8.00 million).The ordered parts will be supplied from February to October. Almac will supply
Hyundai Motor and Kia Corp. sold more than 1.1 million vehicles in Europe in 2023, setting a new record for annual sales.Hyundai and Kia sold 1,106,467 units in Europe in 2023, up 4.3 percent year on year according to the European Automobile Manufacturers’ Association (ACEA) on Jan. 18. This surpass
POSCO International announced on Jan. 18 that it has secured an order for 1.03 million units of drive motor cores. These cores will be utilized in electric vehicles of the Seltos class, which Hyundai Motor and Kia Motors plan to produce locally in Europe from 2025 to 2034. The drive motor cores will
The won-dollar exchange rate has been on the rise, leading to an influx of foreign selling. The KOSPI index experienced volatility as foreign investors unloaded their holdings, causing it to fall below the 2440 level from the previous day.On the morning of Jan. 18, the KOSPI is indicating a modest r
SK telecom announced on Jan. 17 that it has signed a memorandum of understanding (MOU) with Vetology Innovations of the United States, targeting the U.S. market with its product, named X Caliber, during the world’s largest veterinary event, VMX2024, currently underway in the U.S.X Caliber is a diagn