SK Group announced on June 22 that they are backing a project to build a memorial in commemoration of the 70th anniversary of the Korea-U.S. alliance. The memorial will honor the late Colonel William E. Weber and General John Kirk Singlaub, both renowned figures of the alliance and heroes of the Kor
POSCO Group is aggressively growing its secondary battery materials business by investing 1.5 trillion won (US$1.2 billion) to build a nickel and precursor production plant in Pohang, North Gyeongsang Province, Korea in partnership with a Chinese company. The precursor is a material just before bein
Korea Investment Management (KIM) has decided to launch the Korean securities industry’s first Japan-themed exchange traded fund (ETF) as the Japanese stock market continues to renew its zenith.KIM will launch Korea’s first ETF that focuses on specific industries in Japan in the second half of this
The Korean business community criticized the Supreme Court’s ruling that labor union members who engage in illegal labor disputes must be held individually liable for damages, calling it a “ruling that undermines the fundamentals of the rule of law at industrial sites.”“The Supreme Court’s ruling cr
Samsung C&T’s Construction Division announced on June 20 that it has won the Fubon Aozihdi Development Project, a project issued by Fubon Life Insurance, a subsidiary of Fubon Financial Group, a major financial group in Taiwan.The Fubon Aozihdi Development Project, located in Kaohsiung, Taiwan’s sec
The South Korea-Iraq Joint Committee, which has been suspended for the past six years, is set to resume this year. The government plans to support Korean companies to secure large projects underway in areas such as Bismayah New City in Iraq.The Ministry of Land, Infrastructure, and Transport announc
Hanwha Aerospace announced on June 20 that they have entered into a Memorandum of Agreement (MOA) with UK-based 'Vertical Aerospace' (VA) for the development of Urban Air Mobility (UAM) components.The MOA signing ceremony took place at the Paris Air Show in France on June 19, with Hanwha Aer
Korea Hydro & Nuclear Power (KHNP) has set up a task force to bid for a facility improvement project at Romania’s Chernaboda Nuclear Power Plant No. 1.KHNP established the task force on June 7 in order to take on a contract for the facility improvement project at Chernaboda Nuclear Power Plant No. 1
Tesla has announced it had received a corrective order from the Korea Fair Trade Commission (KFTC) for false and exaggerated advertising. It has been approximately six months since the KFTC declared it would issue a corrective order to Tesla.On June 19, a notice was posted on the Tesla Korea website
Samsung and LG are showing mixed results in the automotive electronics domain that both companies have chosen as their new growth drivers. Samsung has spent an astronomical amount of money, close to 10 trillion won, to take over Harman, but has not been able to generate much synergy with the company
Nvidia’s stock price has nearly doubled since the beginning of the year due to the artificial intelligence (AI) craze. Therefore, the U.S. semiconductor company surpassed US$1 trillion (about 1,275 trillion won) in market capitalization at the close of trading on June 13 (local time), becoming the s
Hanwha announced on June 16 that it will participate in the Paris Airshow, which will be held at Le Bourget Airport near Paris, France, from the June 19 to 25.Hanwha Aerospace and Hanwha Systems will operate a unified exhibition hall and run the Space Zone, Air Mobility Zone, and Air Zone, gathering
CJ Logistics announced on June 16 that it has signed a “Strategic Business Agreement for Global Logistics Activation” at the headquarters of Evergreen in Taoyuan City, Taiwan.Evergreen is a worldwide shipping company that transports container cargo globally, ranking 6th in the world in terms of ship
Following the Korean Supreme Court’s decision to reduce the liability of the Hyundai and SsangYong labor unions for damages from illegal strikes, business leaders and experts said it will become increasingly difficult to build a mutually balanced labor-management relationship.On June 15, the Supreme
The world's first four-wheeled robot that can freely climb stairs, a drone managing Lotte World Tower, the tallest building in Korea, and an AI-based music service platform are all products of startups that Hyundai Motor Group has invested in.The Hyundai Motor Group announced on June 15 that it
Hoban Construction is set to be hit with a fine of over 60 billion won for unfair internal trading practices, specifically supporting the businesses of the controlling shareholder's descendants via “swarm bidding.” This penalty is the third-highest in the history of unfair internal trading incid
Some media outlets reported that the U.S. government has approved Gotion High Tech to build a cathode and anode plant to supply lithium iron phosphate (LFP) batteries in the United States. Gotion is one of China’s top four battery makers.On June 14, Fox News reported that the Committee on Foreign In
On the 50th anniversary of World Environment Day, Huawei and IUCN highlighted smart solutions for supporting effective and fair management and governance of protected and conserved areas, and the growing importance of technology in tracking threatened species and protecting their natural habitats.Hu
HD Hyundai’s shipbuilding subsidiary, Hyundai Vietnam Shipbuilding (HVS), has recently received orders for two petroleum product carriers (PC vessels) from an African shipping company, bringing its cumulative total to 199 ships over 15 years since entering the shipbuilding business.Founded in 1996 a
Samsung C&T announced its participation in a Small Modular Reactor (SMR) project in Romania.On June 13 (local time), Samsung C&T’s construction division signed a memorandum of understanding (MOU) with Nuclearelectrica, Romania’s state-owned power corporation; E-INFRA; Nova Power & Gas; and U.S.-base