Samsung Electronics, SK hynix, and other major semiconductor firms have called for government attention and support in relation to the U.S. government’s impending subsidy payments.During a “Public-Private Semiconductor Strategy Meeting” held on the morning of Feb. 26 at the Korea Chamber of Commerce
Starbucks Korea has halted sales of its sparkling water Perrier following a quality control controversy.Starbucks Korea announced on Feb. 26 that it has preemptively suspended sales of Perrier from Feb. 1 following quality control issues raised by the brand’s overseas manufacturer.Perrier is a spark
Amid growing concerns about expanding trade risks in big election years in 76 countries around the world holding elections, the Korean government has decided to actively manage risk factors through a strategy meeting among industry, academia, and research centers.The Ministry of Trade, Industry and
By combining three key factors—AI-powered real-time translation technology, expertise in professional translation, and know-how in video production—Flitto enhances the competitiveness of K-content and expands its reachFlitto (CEO Simon Lee, KOSDAQ 300080), an AI data solution and professional transl
The Korean government has set the goal of seeing Korean green companies achieve 100 trillion won in overseas exports by 2027. To this end, it plans to proactively discover demand for overseas environmental businesses. In particular, it aims to build a sustainable foundation for an overseas expansion
HD Korea Shipbuilding & Offshore Engineering (KSOE) recently signed a contract on the construction of four 174,000-cubic-meter liquefied natural gas (LNG) carriers with an Oceania-based shipping company.The LNG carriers are valued at US$270 million per vessel, which is US$5 million more than the pre
The Korea Expressway Corporation (KEC) announced on Feb. 26 that it signed a memorandum of understanding (MOU) on Feb. 23 with the Road Development Authority (RDA) of Mauritius for the consulting services related to the maintenance of the A1-M1 cable-stayed bridge as part of a follow-up initiative o
Daewoo Engineering & Construction (Daewoo E&C) announced on Feb. 26 that it had completed the installation of the ultra-low-temperature heat exchanger at the Nigeria Liquefied Natural Gas (NLNG) Train 7 Project on Feb. 9. The heat exchanger is the main core process that accounts for 70 to 80 percent
After assuming office, the newly appointed president of POSCO International, Lee Gye-in, has opted for the global expansion of the driving motor core division as his first move.POSCO International approved the construction of a new driving motor core plant in Poland and a second plant in Mexico duri
Chinese e-commerce giant Alibaba’s AliExpress has come under fire once again, this time embroiled in controversy surrounding sexually explicit content following on issues regarding counterfeit products. Concerns have been raised over the platform’s uncontrolled search terms, advertisements, and imag
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
The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced on Feb. 23 that they held an online briefing on the 2024 Secondary Battery U.S. Investment Strategy to help Korean companies break into the U.S. secondary battery market.The event was
A Korean-owned Ireland-based semiconductor company is reportedly among companies included in a list of those under U.S. sanctions against Russia.According to the Irish Times in Dublin, Ireland-based Cubit Semiconductor was included in the sanctions announced by the U.S. Department of the Treasury’s
Korea’s Anti-Corruption & Civil Rights Commission (ACRC) has dismissed HD Hyundai Heavy Industries’ complaint against the results of a bid to build the next frigate for the Korean Navy.According to industry sources, the ACRC recently sent a resolution to dismiss HD HHI’s complaint about the results.
The Ministry of SMEs and Startups announced it will hold the K-Business Day in the Middle East 2024 export consultation session on Feb. 27 in Riyadh, Saudi Arabia, and on Feb. 29 in Dubai, the UAE, in collaboration with the Korea Federation of Small and Medium Enterprises. This initiative aims to su
On Feb. 20, the Incheon Free Economic Zone (IFEZ) announced the inauguration of Yoon Won-seok, the former executive vice president of the Economic and Trade Cooperation at the Korea Trade-Investment Promotion Agency (KOTRA), as its 8th Commissioner. The position of Commissioner of the Incheon Free E
On Feb. 23, KB Kookmin Bank held the grand opening ceremony of KB Prasac Bank in Phnom Penh, the capital city of Cambodia.Approximately 700 individuals attended the event, including the Governor of the National Bank of Cambodia Chea Serey and the Ambassador of Cambodia to Korea Chring Botum Rangsay
Hyundai Engineering & Construction (Hyundai E&C) has been selected as the preferred negotiating partner for a major nuclear power plant project in Bulgaria, marking its return to the overseas market after 15 years.The company announced on Feb. 23 that it has solely passed the pre-qualification asses
KG Mobility (KGM) announced on Feb. 22 that it posted sales of 116,699 units and 3.78 trillion won (US$2.84 billion), operating income of 5 billion won and net profit of 1.2 billion won based on an unconsolidated basis in 2023.KGM said the results were driven by productivity improvements and cost re
SK telecom announced on Feb. 22 that it has successfully completed the conceptual verification of AI-based wireless transmission and reception technology for future 6G mobile communications for base stations in cooperation with NTT DoCoMo, NTT, and Nokia Bell Lab.The developed technology incorporate