The United States and China are ramping up their competition over South Korean semiconductors. Following China's sanctions on U.S. semiconductor firm Micron, the two nations are locked in a struggle to fill the resulting gap. China, which had previously launched harsh criticisms such as “playing
The battery industry is on high alert as the guidelines of the U.S. Inflation Reduction Act (IRA), specifically concerning “Foreign Entities of Concern (FEOC),” could be released as early as June. This comes with the apprehension that if major procurement and refining companies for core battery mine
SK bioscience announced on May 30 that its in-house developed COVID-19 vaccine “Sky Covione” (European name: Sky Covion) has received formal authorization from the U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) for primary vaccination (first and second doses) in adults aged 18
The Korea Institute of Machinery and Materials (President Sang-jin Park, hereinafter referred to as KIMM), an institute under the jurisdiction of the Ministry of Science and ICT, signed an MOU in the fields of advanced manufacturing and robotics with research institutes in Spain and Greece, two of E
POSCO FUTURE M and GM's cathode joint venture, Ultium CAM, will receive investment incentives from Canada. On May 29 (local time), the Canadian federal and Quebec provincial governments announced significant financial support for the construction project of Ultium CAM's cathode factory.The a
SK hynix announced today that it has completed the development of the industry’s most advanced 1bnm, the fifth-generation of the 10nm process technology, while the company and Intel began a joint evaluation of 1bnm and validation in the Intel Data Center Certified memory program for DDR5 products ta
Korean company Doosan Enerbility has taken a big step toward mass-producing nuclear fusion energy.Doosan Enerbility announced on May 29 that it has shipped a pressurizer to the International Thermonuclear Experimental Reactor (ITER). The device was designed and manufactured by Doosan Enerbility. The
As competition intensifies in the electric vehicle (EV) market, a “supply chain war” over key battery minerals is heating up. Not only battery cell and material companies that directly need minerals, but also automakers and energy companies have jumped into the mineral acquisition battle.General Mot
The Indo-Psacific Economic Framework (IPEF), a U.S.-led economic cooperative formed to counter China, has released its first significant result: a supply chain agreement involving 14 participating countries. The main aspect of this agreement is a joint response by the participating nations to supply
Hyundai Motor Group has announced on May 26 that it has held a contract signing ceremony with LG Energy Solution to establish an electric vehicle (EV) battery cell joint venture factory in the U.S. by 2025.The joint venture factory will be constructed in Bryan County, Georgia, where the Hyundai Moto
On May 25, HanAll Biopharma and Daewoong Pharma announced a joint development agreement on potential treatments for degenerative neurological diseases. The agreement centers on ATH-399A, a leading candidate for Parkinson's disease treatment, currently under development at NurrOn Pharmaceuticals.
Senior members of the Ukrainian and Polish governments asked Korean Minister of Land, Infrastructure, and Transport Won Hee-ryong to make investment in the Three Seas Initiative (3SI) during Won’s visit to Poland to discuss Korea’s participation in Ukraine’s reconstruction project.The 3SI envision t
The United States and the European Union (EU) are preparing a joint regulatory proposal to limit Chinese investment in high-tech sectors such as semiconductors. They are stepping up their pressure on Beijing after the leaders of the Group of Seven (G7) announced a joint response to China’s economic
The Korean government has reportedly asked the U.S. government to double the limit for Korean companies receiving CHIPS Act subsidies in ramping up their semiconductor production capacities in China. The U.S. Department of Commerce is finished accepting opinions and will announce a finalized CHIPS A
Korean battery material companies, including LG Chem, are accelerating the localization of key precursor materials for cathodes following the implementation of the U.S. Inflation Reduction Act (IRA) this year. As domestic production is expected to increase significantly from next year, attention is
Hana Financial Group announced at the United Nations Environmental Programme Finance Initiative (UNEP FI) Asia-Pacific Roundtable held in Korea that it will take the lead in "expanding investments in the field of biodiversity" for sustainable finance in the Asia-Pacific region. The UNEP FI is an int
Recently, the secondary battery industry and the automotive industry have been competing for leadership in battery packs. While battery companies prefer turnkey supply from battery cells to modules and packs, the automotive industry has a position that it cannot lose out on the lead in manufacturing
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the company’s CEO, Jaeyong Ahn presented methods for equitable access of vaccine in the world at the Regionalized Vaccine Manufacturing Collaborative (RVMC) Side
LIG Nex1 will be making its first appearance at the Langkawi International Maritime & Aerospace Exhibition LIMA 2023. This global exhibition takes place on the island of Langkawi, Malaysia, running from May 23 to 27.This year, the 16th instance of the LIMA event, is an international showcase in the
The United Arab Emirates (UAE), which pledged US$30 billion in investment in Korea during a bilateral summit in January, has set out to make that investment in Korea. It is reviewing investment opportunities worth US$2 billion in Korea, focusing on priority investment cooperation areas such as energ