POSCO, the world's fifth largest steelmaker in terms of steel production, was ranked first in terms of competitiveness for the 10th consecutive year. In particular, POSCO led steelmakers in high value-added products, processing cost, and technology innovation.World Steel Dynamics (WSD), the worl
Although the South Korean government has an ambitious plan to make the nation an international financial hub, another foreign bank is closing down its business in Korea this year. Starting with the shutdown of Goldman Sachs’ branch in 2017, Royal Bank of Scotland (RBS), Banco Bilbao Vizcaya Argentar
South Korea’s financial watchdog is planning to introduce artificial intelligence (AI) technology in examining private equity funds.The Financial Supervisory Service announced on June 18 that it has started a process to select a company that will develop an artificial intelligence (AI) system to sup
SK Engineering & Construction (SK E&C) has become the first Korean builder to enter the Western European propane dehydrogenation (PDH) plant market by winning a front end engineering design (FEED) project for a PDH plant in Belgium.SK E&C announced on June 18 that it has signed a FEED contract with
Hyundai Motor and Kia Motors have developed a new brake technology that allows drivers to adjust the braking power of the brake pedal according to their preference.The automakers said their “Flex Brake” technology is the first of its kind in the world that enhances the sensibility and safety of driv
LG CNS will work with Microsoft to develop digital workplace solutions for business innovation.LG CNS announced on June 17 that it has signed a strategic partnership (MOU) with Microsoft for digital transformation cooperation, which includes the development of next-generation business environment in
SKC Co., chemical and tech material producing unit of South Korean conglomerate SK Group, has recently acquired KCF Technologies Co. (KCFT), an electric vehicle copper foil maker, from LG Group. Accordingly, all eyes are on whether SK Group will be able to hit the jackpot again as it did by acquirin
The number of companies which have decided to pay out interim dividends in the first half of this year has increased compared to last year. With investors’ interest in stock dividends growing due to low interest rates, more and more companies are paying out interim dividends as there are growing cal
Partnerships between global automakers and electric vehicle (EV) battery producers are booming.Volkswagen, the world's No. 1 carmaker, has decided to invest a total of 900 million euros to build a new battery production plant in Norway jointly with Northvolt, a battery maker in Sweden, industry
Intel, which has been suffering a supply shortage of central processing units (CPUs) from last year, chose Samsung Electronics as its foundry service provider instead of Taiwan’s TSMC, the largest foundry firm in the world. This seems to be a strategic decision not to upset the U.S. government which
A New Zealand Tech Roadshow is visiting Korea this week for a series of events designed to connect innovative New Zealand tech firms with tech-savvy Korean counterparts.The roadshow is supported by the New Zealand Chamber of Commerce in Korea, known as “The Kiwi Chamber,” and the New Zealand Embassy
SK Group held the 2019 SK Global Forum in New Jersey and California of the United States on June 15 (local time).SK Group has been holding the annual event since 2012 to recruit core talent in its major growth fields such as energy, chemicals and ICT. Each year, top executives of major SK affiliates
South Korean companies’ foreign direct investment (FDI) hit an all-time high of US$14.11 billion in the first quarter of this year with a year-on-year growth of 44.9 percent, the highest since Q1, 2017, the Ministry of Economy and Finance announced on June.The manufacturing sector’s FDI reached a re
SK Telecom, BA Solutions, Silla University, the ROK Army 53rd Infantry Division, and Hanbit Drone tested their illegal drone response system on June 12 and the entire course of the simulated training was checked at the provisional command center installed in the auditorium of the university. The gua
LG Chem will set up an electric vehicle battery joint venture with Geely Auto, the largest automaker in China. This marks the first time that LG Chem sets up a joint venture with a carmaker to manufacture batteries for electric vehicles. Industry analysts view it as a bold move to enter the Chinese
SKC will acquire KCF Technologies (KCFT), a major manufacturer of battery copper foil for electric vehicles.SKC announced on June 13 that it has decided to acquire a 100 percent stake in KCFT for 1.2 trillion won (US$1.14 billion) and signed a share purchase agreement (SPA) with global private equit
While the government is planning various policies to revitalize manufacturing industries, SK C&C has come up with a digital transformation platform based on artificial intelligence, cloud, and big data to help manufacturing companies improve productivity.SK C&C released early this year eight "Accuin
Intellectual Property 5 (IP5), which consists of the national patent offices of the United States, South Korea, Japan, China and Europe, agreed to work together on a better international patent system in preparation for the Fourth Industrial Revolution. The heads of the patent offices had their 12th
An increasing number of foreign cryptocurrency exchanges are entering the South Korean market, attracted by its particularly high cryptocurrency trading volume-to-population ratio and lack of regulations related to cryptocurrency exchange establishment.On the other hand, South Korean cryptocurrency
The number of 5G subscribers exceeded one million as of June 10, the Ministry of Science and ICT said on June 12. 5G mobile phones sold about 230,000 units during the first month of 5G services, exceeding the initial adoption pace of 4G services.The surge in 5G subscribers in the initial period is a