After assuming office, the newly appointed president of POSCO International, Lee Gye-in, has opted for the global expansion of the driving motor core division as his first move.POSCO International approved the construction of a new driving motor core plant in Poland and a second plant in Mexico duri
Hyundai Engineering & Construction (Hyundai E&C) has become highly likely to win a project to build Kozloduy Nuclear Power Plant in Bulgaria with a total budget of nearly 19 trillion won, foreign media outlets reported.The Kozloduy Nuclear Power Plant Committee reviewed five proposals and concluded
Gaudio Lab, a leading AI audio technology company, is set to participate in MWC 2024 to showcase innovative AI audio technologies that will be essential for the new era of spatial computing.Gaudio Lab will host its booth in the KOTRA Korea Pavilion at MWC Barcelona, where attendees can have a sneak
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
Netflix, a dominant player in the online video streaming service (OTT) industry, is persisting in its non-response to government pressure to lower subscription fees, raising concerns about increasing burdens on domestic OTT companies. Experts argue that to improve equity between domestic and interna
Korea Western Power (KWP) has secured a landmark solar power project in the United Arab Emirates (UAE), marking the first time a South Korean company has won such a large-scale solar power project in the country. This project represents the largest single solar power project ever won by a Korean com
Executives and experts from domestic e-commerce companies such as Coupang are collaborating to develop strategies in response to the aggressive expansion efforts of Chinese e-commerce platforms including AliExpress and Temu.According to industry sources on Feb. 14, the Ministry of Trade, Industry an
Korea’s four major oil refiners are posting a gradual drop in their exports to China. They are diversifying their export destinations to Australia, Japan, and other countries to fill the void. China used to be Korea’s top petroleum product export market.According to the Korea National Petroleum Asso
SK on has announced a supply agreement to receive natural graphite from its American anode material partner, Westwater Resources. This acquisition of American-sourced graphite strengthens SK on’s response capability to the Inflation Reduction Act (IRA).On Feb. 12, SK on disclosed that it had finaliz
Hanwha Solutions Q CELLS Division is set to simultaneously launch a new series of solar modules, the Q.TRON G2, in Korea and Europe in February. Following its pioneering mass production of the globally dominant Passivated Emitter Rear Cell (PERC) cells and modules, Hanwha Q CELLS now becomes the fir
Competition to land a nuclear power plant order from the Czech Republic has been reorganized into a two-runner race between Korea and France after the United States has withdrawn from the competition. The scale of the nuclear power plant project has also increased from one to four reactors and the p
Hanwha Ocean and Hanwha Aerospace presented their state-of-the-art defense technologies to Dr. David Perry, President of the Canadian Global Affairs Institute (CGAI), who visited Hanwha facilities from January 23-24. The CGAI is recognized as Canada’s leading source of expertise on global affairs an
CJ Logistics announced on Jan. 31 that it has entered into a strategic partnership for logistics cooperation with Saigon Co.op, a Vietnamese state-owned retail chain giant.Through this partnership, both companies plan to establish a joint task force to collaboratively operate a new logistics center
Samsung Display has relinquished its leading position in the foldable Organic Light-Emitting Diode (OLED) market to Chinese display manufacturer BOE in the last quarter of the previous year.According to the market research firm Display Supply Chain Consultants (DSCC) on Jan. 30, Samsung Display’s ma
AI audio company Gaudio Lab announced on Jan. 30 that its Just Voice technology has been named a finalist in the Audio Experience category of the Innovation Awards at South by Southwest (SXSW).SXSW began in 1987 as a small music festival in Austin, Texas and has grown to become a conference and fest
Hanwha Ocean and Hanwha Aerospace presented their state-of-the-art defense technologies to Dr. David Perry, President of the Canadian Global Affairs Institute (CGAI). The CGAI is recognized as Canada’s leading source of expertise on global affairs and Dr. Perry’s visit is timely as Hanwha is laying
Despite halting operations at their Russian appliance factories for over a year due to the Ukraine war, Samsung Electronics and LG Electronics have not yet decided to sell. Instead, they are considering minimizing losses by leasing these facilities to local businesses.According to industry sources o
Positive tangible results are being made by the Korean Ministry of Trade, Industry and Energy (MOTIE) and the CF Alliance pursuing a strategy to expand carbon-free power sources in the industrial sector.Major countries such as the United Kingdom, France, the Netherlands, and the United Arab Emirates
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
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