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
Samsung SDI and General Motors (GM) have announced their plans to construct a joint venture electric vehicle battery plant in the state of Indiana in the U.S., with mass production set to begin by 2026.On June 13 (local time), the companies announced their decision to build the joint venture in New
Global automotive companies are speeding up the process of battery internalization. Batteries account for about 30-40% of the cost of electric vehicles (EVs), making them a key component. If they are successfully developed in-house, significant price competitiveness can be achieved.According to indu
The United States is officially shifting its Chinese strategy from “decoupling” to “derisking.”On June 4, White House National Security Advisor Jake Sullivan said in a CNN program, “The U.S. economy does not seek to decouple from China, it seeks to derisk it.” This came more than two months after he
HD HHI and Hanwha Ocean, two arch-rivals in the Korean defense industry, are set to go head-to-head to take an 80 trillion won (US$62 billion) Canadian submarine project and a frigate order for the Korean Defense Acquisition Program Administration (DAPA).HD HHI and Hanwha Ocean are both gearing up t
Korea and Saudi Arabia will establish a US$160-million joint fund.The fund will be set up as part of a memorandum of understanding (MOU) between Korea and Saudi Arabia on investment cooperation and support for startups, which was signed during a meeting with Korean President Yoon Suk-yeol and Saudi
Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry (KCCI), revealed the mutual cooperation of the Korean and Japanese business communities, stating that "we will connect the 2030 Busan World Expo (Busan Expo) with the 2025 Osaka-Kansai Expo in Japan as a single solutio