It is forecast that private investment in the field of biopharmaceuticals will reach 17.7 trillion won by 2030. To facilitate this, the government plans to allocate a budget of 2.1 trillion won for research and development (R&D), workforce training, and other initiatives to act as a facilitator.On A
Samsung Display saw its market share for smartphone Organic Light-Emitting Diode (OLED) panels fall below 50% for the first time last year, facing intense competition from Chinese manufacturers. The surge in market share for companies like BOE, which have secured exclusive supplies for Chinese smart
In the past 2-3 weeks, a shortage of enterprise solid-state drives (SSDs), a NAND flash memory product, has been observed. This is due to the AI boom and the subsequent construction of data centers by global big tech companies, with a particularly explosive increase in demand for storage devices nee
SK hynix announced on April 1 that it has developed the semiconductor industry’s first neon gas recycling technology in collaboration with the domestic specialty gas company TEMC. This achievement comes just over a year after starting the development of recycling technology with a domestic material,
HD HHI announced on March 29 that it has been selected by Peru’s state-run SIMA Shipyard as a preferred bidder for joint local production of four ships: a 3400-ton frigate, a 2200-ton offshore patrol vessel and two 1500-ton landing ships. They are worth a total of US$462.9 million.HD HHI will design
With the passing of Hyosung Group Chairman Emeritus Cho Seok-rae on March 29, his sons, Chairman Cho Hyun-joon and Vice Chairman Cho Hyun-sang, are expected to take the helm of the business group.Hyosung Group formalized the establishment of a new holding company through its board of directors in Fe
Despite a downturn in the industry, petrochemical companies in South Korea have reportedly invested a record amount in research and development (R&D). This move is interpreted as part of a differentiation strategy to enhance competitiveness in new business areas such as high-value added (specialty)
The global community is on edge following reports that China plans to eliminate products from American companies Intel and AMD. This move surpasses mere retaliation against the United States’ intensified semiconductor export restrictions, indicating China’s confidence in its own technological develo
Samsung Electronics and LG Electronics are both making strides in the smart factory sector.According to market research firm MarketsandMarkets on March 31, the global smart factory and automation industry market size is expected to grow from US$86 billion in 2022 to US$140.9 billion by 2027. Markets
Lotte Group has revealed its determination to achieve operational efficiency through selection and concentration and to enhance corporate value by restructuring its business structure.At the 57th regular shareholders’ meeting of Lotte Holdings held at Lotte World Tower in the Songpa district of Seou
Samsung Electronics has introduced a sample version of its next-generation graphics DRAM, GDDR7. Graphics DRAM, along with High Bandwidth Memory (HBM), is considered a profitable product in the Artificial Intelligence (AI) memory lineup.According to industry sources on March 28, Samsung Electronics
Samsung Display Executive Director Jung Seok-woo announced plans to expedite the production of RGB-based micro OLEDs at the OLED Korea conference held at the K Hotel in Seoul on March 28.During his presentation on the Development Strategy for AR/VR in Future Displays, Jung emphasized the collaborati
Doosan Enerbility is making its entry into the aircraft engine business, leveraging its accumulated expertise in power generation gas turbines to broaden its business domain and secure differentiated gas turbine technology.On March 26, Doosan Enerbility announced that it had added “aircraft engine m
An analysis by the World Wildlife Fund (WWF) suggests that the average person ingests as many as 5 grams of microplastics weekly – that’s the equivalent of eating a whole credit card. While the exact effects of plastics on human health are still relatively unknown, the World Health Organization (WHO
Hyundai Motor Group announced on March 27 that it will hire 80,000 people and invest 68 trillion won in Korea over the next three years from this year to 2026. The plan is expected to create about 198,000 decent new jobs.The announced investment in Korea is a significant increase from the 56.2 trill
The K21 Infantry Fighting Vehicle, produced by Hanwha Aerospace, is highly likely to be exported to Latvia this year.Hanwha Aerospace is currently participating in the Latvian Army’s armored vehicle replacement project with its K-21 Infantry Fighting Vehicle. The project involves about 100 units and
Samyang, which has been expanding its high-tech materials business since its 100th anniversary, will launch its battery materials business in earnest.Samyang announced on March 26 that it has invested 3 billion won in Solid Ionics, a solid-state electrolyte development and production company. Samyan
Genesis, a division of Hyundai Motor, will add a high-performance trim called “Magma” to all its models from 2025 starting with the GV60, just like premium automaker rivals Mercedes-Benz and BMW have AMG and M as their high-performance luxury trims.Genesis took the wraps off the GV60 Magma Concept C
A scenario analysis has been conducted on the aftermath of the U.S. presidential election, which poses a major risk to the Korean secondary battery industry for electric vehicles which is expected to expand supply in earnest beginning from 2025.If U.S. presidential hopeful Donald Trump, who has ment
As Korean battery companies are struggling amid slowing growth in the global electric vehicle market, they are expected to improve their profit margins despite falling sales in 2024.“This year, LG Energy Solution and Samsung SDI are expected to maintain profit margins in the 5 percent range, while S