South Korea’s exports posted double-digit growth in January, led by a recovery in semiconductor exports.Korea’s exports totaled US$54.69 billion in January, while Korea’s imports totaled US$54.39 billion, according to the Korean Ministry of Trade, Industry and Energy (MOTIE).Exports increased 18 per
U.S. President Joe Biden smiles in the Roosevelt Room of the White House as he listens to a presentation by Chey Tae-won, the chairman of SK Group, via video on July 26, 2023.SK hynix is contemplating the establishment of a semiconductor packaging plant in the United States.According to multiple for
Italian supercar brand Lamborghini sold more cars in South Korea than in its home country of Italy in 2023.Lamborghini, which celebrated its 60th anniversary in 2023, sold 10,112 units globally, up 10 percent from the previous year, the company said on Jan. 31. This was the first time Lamborghini ha
South Korean trading firm SK Networks is joining hands with the Bow Capital, the U.S.-based venture capital firm, to pursue a transformation into an investment company focused on the artificial intelligence (AI) sector.SK Networks announced the signing of a memorandum of understanding (MOU) for the
The Korea Investment Corporation (KIC) announced on Jan. 29 that it has established its fifth overseas hub, following the opening of offices in New York, London, Singapore, and San Francisco.The new hub is the Mumbai office in India, marking the KIC’s first overseas presence in an emerging market. T
South Korea’s economy continued to grow slowly throughout the year of 2023 with an annualized growth rate in the low 1 percent range. Exports are expecting it to continue to improve, but a strong rebound is unlikely this year as domestic demand remains weak.The Bank of Korea (BOK) released prelimina
Among the seven emerging markets, it has been analyzed that the most significant outflow of foreign funds has occurred in South Korea in the past three months, following China. It is interpreted that foreign investors who withdrew from the Chinese stock market prefer other emerging markets like Viet
Hyundai Wia announced on Jan. 24 that it signed contracts to supply a total of 1.450 trillion won (US$1.086 billion) worth of constant velocity joints with European and North American automakers in 2023.Constant velocity joints are core parts of automobiles that transmit power generated by motors or
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
Military representatives from six of the countries operating the prestigious 155mm/52-calibre K9 Self-Propelled Howitzer (SPH), developed by Hanwha Aerospace, have convened in Helsinki, Finland, for the annual K9 User Club meeting.For this year’s meeting, the third of its kind since 2022, Finland, w
3D Factory, a South Korean global platform dedicated to the development of the metaverse, announced on Jan. 22 that it has been selected as the advertising planner and executor for the entire Taif region of Saudi Arabia. This public project was commissioned by the Ministry of Municipal and Affairs a
Hyundai Motor India Ltd. (HMIL) has completed acquisition and assignment of identified assets at General Motors India’s Talegaon Plant in Maharashtra. The acquisition has been completed post fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and
POSCO International announced on Jan. 18 that it has secured an order for 1.03 million units of drive motor cores. These cores will be utilized in electric vehicles of the Seltos class, which Hyundai Motor and Kia Motors plan to produce locally in Europe from 2025 to 2034. The drive motor cores will
It has been revealed that South Korea completed defense exports to Poland last year surpassing 1.5 trillion won, including FA-50 light combat aircraft and K9 self-propelled howitzers.With the addition of such large-scale defense exports, Poland has swiftly emerged as South Korea’s fifth-largest trad
The number of technical regulations notified by World Trade Organization (WTO) member countries in 2023 exceeded 4,000 for the first time ever, a record high, showing that technical barriers to trade were rising among countries.The Korean Agency for Technology and Standards under the Ministry of Tra
Cosmax, a global cosmetics original design manufacturing (ODM) company, will begin targeting emerging markets such as the Middle East and South America beginning from 2024.Last year, Cosmax operated the Emerging Markets TF for four regions -- the Middle East, South America, India, and Africa -- to s
Doolim-Yaskawa, a leader in the robot-based automation industry, is supplying a painting automation solution to Hyundai Motor Group's US car factory. Last month, they completed the Off-Line Test (OLT) of their robot system in their own factory and announced that they are currently working on a proje
Hyundai Motor India Limited (HMIL), announced Rs 6 180 Crore investment plans in the state of Tamil Nadu (this includes Rs 180 crore towards a dedicated ‘Hydrogen Valley Innovation Hub,’ in association with IIT- Madras). This is in addition to the Rs 20 000 Crore investment planned in a phased manne
In India, where global corporations and investors are focusing their attention as the “next China,” Mirae Asset Global Investments is gaining influence in the local market by surpassing 1 trillion won in assets under management (AUM) with its exchange-traded funds (ETFs).According to the asset manag
In 2024, Korean shipbuilders are likely to benefit from an increase in tanker orders because of increased distances for crude oil transportation due to the prolonged war in Ukraine, rising unrest in the Red Sea region, the gateway to the Suez Canal, and a shortage of shipbuilding slots with Chinese