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
Samsung Chairman Lee Jae-yong ambitiously invested 9 trillion won (approximately US$8 billion at the time) in the company Harman, and after a span of about six years Harman has now firmly established itself as a robust and integral part of Samsung Electronics’ business portfolio.In Samsung Electroni
As Japan has set a national goal of “Semiconductor Leadership Recovery,” it is pouring a significant investment into semiconductor company Rapidus. However, Rapidus has recently run into an “emergency to secure profitability.” The company set a goal to mass-produce advanced 2-nanometer semiconductor
Since December last year, the global frenzy over the generative AI known as ChatGPT has rapidly increased the demand for high-performance DRAM, also called High Bandwidth Memory (HBM), capable of processing large-scale data.According to sources in the semiconductor industry on July 31, domestic memo
SK nexilis, an SKC subsidiary investing in copper foil for secondary batteries, announced on July 31 that they have signed a business agreement on July 28 to explore the establishment of a joint venture with Toyota Tsusho, a trading affiliate of the Toyota Group, to produce and supply copper foil in
Samsung Electronics and LG Electronics are gearing up to participate in the upcoming IAA Mobility 2023 event scheduled to take place in Munich, Germany, in early September. As these tech giants aggressively steer their businesses towards the burgeoning market of automotive electric and electronic co
The trend of collaborations between domestic and foreign enterprises of various sizes to achieve success in new drug development is on the rise. Such collaborations are viewed within the industry as a potential model for “Korean-style Open Innovation” in the pharmaceutical and biotech sectors.Accord
LG Chem announced that it will invest in the separator business in the United States within this year and establish a local supply system for separators by 2027.“As for the separator business, LG Chem is promoting customer diversification while having discussions with customers on appropriate produc
The newly appointed CEO, Lee Hak-jae, is set to propel Incheon International Airport’s logistics services into a new era. His leadership promises to infuse fresh vitality into the airport’s logistics operations and fulfill his vision of establishing Incheon as a global logistics hub.Born in 1964, Pr
Hyundai Motor and Kia are joining hands with BMW, General Motors, Honda, Mercedes-Benz, and Stellantis to establish a joint venture to build an electric vehicle charging network in the United States.On July 27, Hyundai Motor and Kia, along with GM and seven other major automakers, announced in a joi
On July 27, SK telecom held the “Global Telco AI Alliance CEO Summit” in the Seoul Walkerhill hotel, attended by key executives from leading global telecommunications companies in Europe, the Middle East, and Asia. SK telecom and other global telecommunications companies have come together as one te
Hyundai Motor Group Chairman Chung Eui-sun has initiated efforts to secure groundbreaking technology in the battery sector. Collaborating with prominent scholars and experts in the domestic battery sector, the company aims to bolster research in next-generation batteries with a particular emphasis o
On July 24, SKC announced in its 2023 Sustainability Report that it plans to achieve more than 15% market share in the global silicon anode material market, a key component for next-generation secondary batteries, by 2032, aiming to become one of the top 3 in the market.“Given the solid position of
Samsung SDI and Stellantis, a global automaker, are investing approximately US$3.2 billion (4 trillion won) to build a second electric vehicle battery plant in the United States. This move, following the establishment of their joint venture just over a year ago, has been evaluated as a step towards
During the 151st edition of The Open, held in Liverpool, England, from July 20 to 23, Doosan actively engaged in promotional efforts to support the campaign for hosting the Busan World Expo, referred to as Busan Expo, in the area.As an official sponsor of The Open, Doosan effectively conveyed the me