SK hynix President and CEO Kwak Noh-jung stated that the company is carefully considering the selection of a site for an advanced packaging facility in the United States, targeting all states.On Feb. 19, CEO Kwak made these remarks during a meeting with the press following the regular meeting of the
In South Korea, Apple has recorded its highest-ever market share. According to market research firm Counterpoint Research, last year, Apple exceeded a 25% market share in the domestic smartphone market for the first time, having increased its market share by 1 percentage point annually since 2020 an
The European Union (EU)’s decision to approve a Korean Airlines-Asiana Airlines merger is fast approaching, drawing more attention from the airline industry. While many experts believe that approval will be given with some conditions, a formal outcome has not come out, keeping both airlines on edge.
Civic groups in Pohang, North Gyeongsang Province, collectively known as the “POSCO Citizens’ Response Committee,” held an urgent executive committee meeting on Feb. 12 to formally oppose the nomination of former POSCO President Jang In-hwa as the CEO candidate for POSCO Holdings.The Citizens’ Commi
The CEO Candidate Recommendation Committee of POSCO Holdings finally chose former POSCO President Jang In-hwa, a long-time POSCO insider, with rich experience in the steel business.POSCO Holdings held an extraordinary board meeting on Feb. 8 and resolved to select former POSCO President Jang In-hwa
A contract worth US$3.2 billion has been finalized to export the KM-SAM2 (Cheongung) ballistic missile system, also known as the Korean Patriot Missile, to Saudi Arabia.The Korean Ministry of National Defense announced on Feb. 6 (local time) a contract for the export of 10 M-SAM2 batteries signed be
Hyundai Rotem’s U.S. subsidiary has won an electric vehicle supply order. The company announced on Feb. 6 that Hyundai Rotem USA was selected as the final bidder for the LA Metro electric train supply project ordered by the Los Angeles County Metropolitan Transportation Authority. The business is va
Japan’s Sony Group has surpassed Samsung Electronics in operating profit for the first time in 24 years. Just 14 years ago, the combined operating profit of nine major Japanese electronics companies did not even reach half of Samsung Electronics’. With Sony’s strong performance last year, however, i
South Korea’s share of China’s import market fell to 6 percent last year. This is the lowest level in 30 years since 5.2 percent in 1993, the year after the establishment of diplomatic relations between South Korea and China. South Korea also slipped to third place in the rankings of countries from
EcoPro announced that it exported approximately 107,000 tons of high nickel cathode materials in 2023, up 24.4 percent from 86,000 tons in 2022. EcoPro’s high nickel cathode material exports exceeded 10,000 tons for the first time in 2018 with 16,000 tons and then steadily increased to 18,000 tons i
South Korea’s foothold in the Chinese market is narrowing while its dependency on imports from China is growing. The relationship that used to yield the most trade surplus for South Korea with China seems to have reversed.According to the Korea International Trade Association (KITA) on Jan. 28, Chin
SK hynix announced on Jan. 25 that it plans to more than double the production capacity of High Bandwidth Memory (HBM) this year compared to the previous year. This move is part of the company’s strategy to capture the new demand from artificial intelligence (AI) applications.This shows the confiden
Hanon Systems, a global automotive thermal energy management solution company based in Korea, announced on Jan. 24 that its cumulative production of R744 electric compressors utilizing eco-friendly refrigerants has exceeded 500,000 units.The company produces eCompressors utilizing R744 at its Palmel
NEOPIN, a decentralized crypto banking service, announced today that it has signed a strategic business agreement (MOU) with Catalyze Research (Catalyze), a web3 and blockchain consulting firm, and Futureverse, a metaverse, artificial intelligence (AI), and infrastructure development company, to exp
Daewoo Engineering and Construction announced on Jan. 23 that it has completed the construction of the Mumbai Trans Harbour Sea Link, the longest sea bridge in India.In 2018, Daewoo E&C started its participation in the the Mumbai Trans Harbour Sea Link construction project through a joint venture wi
Lotte Biologics recently announced the signing of a strategic business agreement with NJ Bio, a U.S.-based Contract Research Organization (CRO) specializing in non-clinical and clinical contract research, to provide one-stop Antibody-Drug Conjugate (ADC) services. Established in 2018, NJ Bio, based
In 2023, the volume of kimchi exports turned to growth, reaching a new record high. The global K-content craze had an impact on the increase in kimchi exports, experts say.According to the Korea Customs Service on Jan. 21, South Korea exported 44,041 tons of kimchi in 2023, up 7.1% from 41,118 tons
South Korea’s six major high-tech strategic industries have seen their shares in export markets plummet, losing ground to rival countries. The six strategic industries include semiconductors, displays, secondary batteries, future vehicles, biotech, and robotics.The six industries’ exports in 2022 wa
Hwang Joo-ho, the CEO of Korea Hydro & Nuclear Power (KHNP), has been engaging in activities to secure the Dukovany new nuclear power plant project in the Czech Republic for two days from Jan. 16.On Jan. 17, CEO Hwang visited the Czech Power Company (CEZ) and the Czech Ministry of Industry and Trade
A forecast has emerged predicting substantial growth in South Korea’s exports this year. On Jan. 18, the Bank of Korea (BOK) published an issue note titled “Assessment and Insights on Global Growth and Trade Post-Pandemic – BOK Issue Note.”The BOK foresees an expansion in South Korea’s export growth