The U.S. government is highly likely to designate copper foil, a battery material, as a core mineral in the Inflation Reduction Act (IRA). This is expected to strengthen the position of Korean copper foil companies as Chinese companies are blocked from entering the fast-growing U.S. battery market.A
On Aug. 9 (local time), the U.S. federal government made a decision to regulate American capital investment in China’s advanced technology sector. This marks an escalation of the economic battle between the U.S. and China, expanding its front from trade and technology to the investment domain. This
A lot of attention is being paid to whether ARM, a British fabless company and subsidiary of SoftBank, which is led by Chairman Masayoshi Son, will be able to succeed in going public in the United States with support from major global companies such as Samsung Electronics, Apple, and Intel.According
The domestically developed messenger ribonucleic acid (mRNA) COVID-19 vaccine, which has the fastest development speed in South Korea, is poised to be sold abroad, but is delayed due to a lack of funds for Phase 3 clinical trials. The development started with government policy fund support to secure
LG Energy Solution announced on August 8th that it has established a joint venture with Huayou Cobalt Co., China's top cobalt producer, creating the first Sino-Korean battery recycling company in China. The contract signing ceremony for the joint venture was held at Huayou Cobalt Co.’s headquart
Samsung Electronics and SK hynix will showcase next-generation memory solutions at the world’s largest flash memory semiconductor event in the United States.The two Korean companies will participate in the Flash Memory Summit 2023, which will be held at the Santa Clara Convention Center on Aug. 8-10
A new service has been launched to help passengers board domestic flights using only a PASS application on their smartphones, eliminating the need for physical identification and paper boarding passes.On Aug. 7, SK Telecom, KT, LG Uplus, and the Korea Airports Corporation jointly announced the launc
Hana Financial Group announced on Aug. 2 (local time) that it has signed a business agreement with State Bank of India (SBI) for global business expansion. The State Bank of India is India’s largest state-owned commercial bank with branches in 25 regions worldwide, including the U.S. and China.The t
Methanol-fueled ships have eclipsed liquefied natural gas (LNG) vessels, claiming the premier position for the highest number of environmentally friendly ship orders placed from January to July this year. South Korea’s shipbuilding sector, which has been cultivating its technological expertise in me
LS Group has augmented its new investment plan for the Saemangeum National Industrial Complex by an additional 840.2 billion won (US$642.35 million), expanding its initial 1 trillion won commitment. This move signifies LS Group’s resolute endeavor to pursue “full domestic production” in the competit
On July 3, CJ Logistics announced that it has signed a strategic partnership memorandum of understanding (MOU) with the 7th global container shipping company, Japan’s Ocean Network Express (ONE).Through this business agreement, both companies have agreed to actively cooperate in providing competitiv
The business of separators, one of the core materials of batteries, is flying high as demand for batteries has climbed. Separators are one of the four main elements that make up a battery, along with anode materials, cathode materials, and electrolytes.The global separator market is expected to grow
Korean battery makers are changing their production targets even as they are building plants. This is in response to the rapidly growing demand for batteries. Spurred on by support from North American countries, battery makers are increasingly changing production plans for plants that are barely com
On Aug. 2, the Korea National Railway announced that it has secured a contract for the “Preliminary Survey for the Construction and Operation of Tajikistan’s Urban Railway” as part of the “2023/24 KSP Policy Consultation Project” managed by the Ministry of Strategy and Finance and implemented by the
SK Inc. has laid out an ambitious plan to invest 23 trillion won (US$17.82 billion) in eco-friendly initiatives by 2025, with a primary focus on “energy transition.” SK Group Chairman Chey Tae-won has shown keen interest in transforming SK’s business landscape from a petroleum-centric structure to o
Chinese battery companies have been pushing to establish factories in South Korea one after another. It is a strategy to circumvent regulations under the U.S. government’s Inflation Reduction Act (IRA), analysts say. It is expected that the companies will try to enter the U.S. and European markets b
India has blocked Chinese automakers from investing in India. This is expected to give Hyundai Motor Group of Korea reflective benefits as the Korean automaker is expanding its investments in India.According to foreign media outlets including the Economic Times of India, Chinese electric vehicle mak
Eight domestic insurance companies invested more than 400 billion won (US$312.74 million) in the construction of the world’s largest biomass power plant in the U.K. However, due to delays in construction and operation, they had to write off over half of the invested funds, resulting in significant l
LG Energy Solution, Samsung SDI, and SK On, the three major battery manufacturers in South Korea, have achieved remarkable performance in the second quarter of this year, marking a historic milestone in quarterly revenue driven by a surge in electric vehicle sales.According to the Financial Supervis
India, a formidable force in the Information Technology (IT) sector and the world’s most populous country, is making rapid strides to establish itself as a “Global Semiconductor Hub,” attracting the attention of both American and Taiwanese semiconductor companies. Similar to President Joe Biden’s pu