Chinese e-commerce giant Alibaba Express announced a consumer protection policy on March 14 that offers unconditional returns and refunds within 90 days for cross-border online purchases. Additionally, it has officially launched a customer service hotline and plans to invest about 1.5 trillion won o
For the fourth consecutive month, semiconductor exports have shown double-digit growth rates, leading the charge in exports. With increases in exports across various components such as displays and computer/peripheral devices, the Information and Communication Technology (ICT) sector as a whole is s
After the Korean government has announced a strategy to secure 33 key minerals used in high-tech industries, including lithium and graphite, by reducing its dependence on China to 50 percent by 2030, Korea’s dependence on China for some key items began to shrink in 2023.Korea’s lithium hydroxide imp
The United States targeting Chinese-made goods as part of its supply chain localization and trade war strategies is expected to affect China’s shipbuilding industry after the Chinese semiconductor industry.According to the Financial Times (FT) and other foreign media outlets, U.S. President Joe Bide
Even after surpassing the “psychological resistance level” of 100 million won, bitcoin continues its upward trend in the domestic market.In particular, a phenomenon known as the “kimchi premium” is observed, where the price of bitcoin in the domestic market is forming higher than that in the U.S. ma
Hyundai Mobis has reportedly surpassed the production record of 51 trillion won last year. This achievement is attributed to the increased orders for global completed cars, including those from Hyundai Motor and Kia Motors.According to the business report disclosed by Hyundai Mobis on March 12, the
LG Chem, Korea’s largest petrochemical company, will shut down its styrene monomer (SM) plant at the end of March. SM is widely used in the manufacture of various petrochemical products. The company is also reportedly considering abandoning production of ethylene oxide (EO) and ethylene glycol (EG),
Hyundai Motor Group will launch a large-scale electric vehicle recall. It is the largest voluntary recall in three years since the automaker entered the market with an electric vehicle-only platform (E-GMP) in 2021. Hyundai and Kia will replace faulty integrated charging control units (ICCUs) in som
LG Electronics will invest US$60 million in AI-based autonomous service robot startup Bear Robotics based in Silicon Valley of the United States.LG Electronics announced on March 12 that it has entered into a share subscription agreement to invest US$60 million in Bear Robotics to acquire a stake in
As the global semiconductor war has become a hot race among nations, major countries such as the United States, China, and Japan have been providing large cash support to their own companies or foreign companies that make investments in their semiconductor industries to boost the growth of their sem
The Korea Chamber of Commerce and Industry announced on March 12 that it appointed Vice Chairman Cho Hyun-sang of Hyosung as the new chairman of the Korea-Vietnam Economic Cooperation Committee on March 11.The Korea-Vietnam Economic Cooperation Committee was jointly established by the Korea Chamber
Global Con-tech Company Angelswing has won first in the ‘Rocket Fuel Pitch Competition’ at Saudi's LEAP 2024, securing the Technology for Humanity Award.LEAP 2024, held under the auspices of the Saudi Ministry of Communications and Information Technology (MCIT) from the 4th to the 7th of March in Ri
Doosan Enerbility is participating in Saudi Arabia's largest combined cycle power plant project.The company announced on March 11 that it has signed a contract with SEPCO-3 to supply equipment for the Taiba 1 Integrated Cycle Power Plant and Qasim 1 Combined Cycle Power Plant in Saudi Arabia. With t
Incheon Metropolitan City and Shinhan Bank announced that they have signed a memorandum of understanding (MOU) at the Incheon City Hall meeting room on March 11 to secure the hosting of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea in 2025.At the signing ceremony, Mayor of Inche
Four Seasons Hotel Seoul ushers in a new era of excellence with the appointment of Michael Schmid as General Manager.A pioneering multi-lingual hospitality veteran and strategic visionary, Michael is a felicitous new addition to the dynamic creativity and high-care curation of Four Seasons hospitali
Choi Yoon-ho, president and CEO of Samsung SDI, announced on March 6, at the opening ceremony of InterBattery 2024, the largest battery exhibition in South Korea held in COEX, Gangnam, Seoul, that “46 mm diameter batteries will be sufficiently ready for mass production by early 2025,” and the exact
SK on is set to develop a high-nickel nickel-cobalt-manganese (NCM) battery capable of traveling 300 km on a 5-minute charge.During a keynote speech at The Battery Conference held at COEX in the Gangnam district of Seoul on March 7 as part of the largest battery exhibition in South Korea, InterBatte
Mirae Asset Global Investments announced on March 7 that its Canadian ETF subsidiary, “Horizons ETFs,” will change its name to “Global X Canada” starting from May.“Horizons ETFs,” acquired by Mirae Asset Global Investments in 2011, is the fourth-largest ETF operator in Canada. At the time of acquisi
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company broke ground on a major expansion of its vaccine manufacturing plant, L HOUSE, located in Andong, Gyeongsangbuk-do, South. The groundbreaking c
Samsung Biologics announced on March 6 that it has entered into a contract manufacturing organization (CMO) production agreement valued at 381.9 billion won (US$287.0 million) with UCB, which is headquartered in Belgium. This agreement is an increase to the contract signed in 2017 with the company,