General Motors (GM) is considering investing to build a plug-in hybrid electric vehicle (PHEV) production facility at its Bupyeong plant in Incheon, Korea.GM is considering investing in the construction of a PHEV facility at its Bupyeong plant, according to sources in the automobile industry on Feb.
The Namdong district of Incheon Metropolitan City houses the Namdong National Industrial Complex, playing a pivotal role in driving the Korean economy. The industrial complex, established in December 1989, is a key metropolitan industrial area with an annual production value of approximately 30 tril
The Fair Trade Commission (FTC) is targeting franchise businesses owned by private equity funds. In particular, tensions within the industry have escalated recently after Mom’s Touch was fined 300 million won (US$225,989) for unfair practices towards its franchisees.Yook Sung-kwon, the Secretary Gen
The criticism against Chinese e-commerce companies, which aggressively enter the domestic market with ultra-low prices, is growing due to their disregard for relevant laws while operating within the country. There are numerous complaints about these companies consistently sending advertisements that
Hyundai Motor Group which runs Hyundai Motor, Kia Corp. and Genesis sold a total of 7.34 million vehicles globally in 2023, ranking third in sales, according sources in the automobile industry. This marked the second consecutive year that the group has ranked among the big three.Toyota Group, with b
Samsung Electronics’ 5G communication equipment is being supplied to the telecommunications operator TELUS, which has embarked on strengthening its 5G network by establishing Canada’s first Open Radio Access Network (OpenRAN).TELUS announced on Feb. 17 through its newsroom that it is expanding its c
SK telecom and KT have announced their plans to showcase advanced technologies based on artificial intelligence (AI) at the Mobile World Congress (MWC) 2024, which opens on Feb. 26 in Barcelona, Spain. SKT is set to occupy a large exhibition space of 992 square meters in the Fira Gran Via Hall 3, un
News about BYD’s entry into South Korea has drawn attention to changes in the share of the South Korean electric vehicle market dominated by Hyundai Motor. BYD is a Chinese electric vehicle maker. Experts predict that BYD’s price competitiveness will play a big role in determining its success in the
LG Chem has signed a massive cathode material supply contract worth 25 trillion won with General Motors (GM). With the U.S. Tennessee cathode material plant at its core, LG Chem plans to strengthen its cooperation in the North American market alongside GM.LG Chem announced on Feb. 7 that it had sign
Hyundai Glovis has secured four of the world’s largest pure car and truck carriers (PCTCs). They are expected to help alleviate a shortage of vessels for the Korean automobile industry.Hyundai Glovis announced on Feb. 6 that it signed a memorandum of understanding (MOU) with Korea Ocean Business Cor
Hyundai Motor India, Ltd. (HMIL) is reportedly pushing for an initial public offering (IPO) on the Indian stock market later this year. HMIL is a wholly owned subsidiary of Hyundai Motor Company.According to media outlets in India, HMIL is in early-stage negotiations for an IPO later this year. Hyun
South Korea has emerged as the leader in mobile communication speed among major countries in the Asia-Pacific region, with its 5G technology also ranked as the fastest globally.According to OpenSignal, a British market research firm, South Korea recorded the fastest mobile download speed of 140.2 Mb
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
China Unicom Beijing and Huawei have successfully deployed a pilot large-scale 5.5G network in Beijing to provide continuous coverage in three key areas, including Beijing Financial Street in the city center, the landmark Beijing Long Distance Call Building, and multipurpose Workers' Stadium. This f
The race to dominate the 2-nanometer (nm) semiconductor technology is heating up at the beginning of the year, a key battleground among global foundry (semiconductor contract manufacturing) companies.According to industry sources on Jan. 29, major foundry enterprises like Samsung Electronics, TSMC,
Samsung Electronics is set to launch its new Galaxy S24 series in China, featuring “Erniebot,” an artificial intelligence (AI) chatbot developed by Baidu as a response to OpenAI’s ChatGPT.According to foreign media reports on Jan. 29 (local time), Baidu announced that Samsung Electronics will utiliz
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
Samsung Electronics is set to revolutionize the Chinese smartphone market with its upcoming artificial intelligence (AI) phone, the Galaxy S24 series, featuring Baidu's generative AI. This strategy, aimed at enhancing AI service quality through collaboration with various AI partners and capturing th
At the beginning of this year, the Consumer Electronics Show (CES) 2024, the world’s largest consumer electronics and IT exhibition, brought into focus the trend of “on-device AI,” or artificial intelligence operating within the device. The emergence of devices equipped with this technology is injec
As international oil prices and refining margins both experienced a simultaneous decline in the fourth quarter of last year, the oil industry’s performance was once again placed in a state of emergency.In the worst-case scenario, four major oil companies -- SK Energy, GS Caltex, S-Oil, and HD Hyunda