Last year, South Korea’s gross national income (GNI) per capita reached US$33,000, marking a rebound for the first time in a year. The annual real gross domestic product (GDP) growth rate was recorded at 1.4 percent.According to the “2023 Preliminary 4th Quarter and Annual National Income” report re
The Ministry of Trade, Industry and Energy announced this year it will invest a total of 1.141 trillion won in research and development (R&D) for materials and components technology, focusing on creating a significant lead in advanced industries, stabilizing supply chains, and achieving carbon neutr
SK D&D, the real estate development arm of SK Group, announced on March 4 that it held a board meeting and completed its spin-off into two entities: SK D&D and SK eternix.As a result of the spin-off, SK D&D will focus on real estate operations, while SK eternix will specialize in renewable energySK
The battery industry is set to unveil a bunch of new technologies at Interbattery 2024, Korea’s largest secondary battery industry show.LG Energy Solution will take the wraps off its cell to pack (CTP) product at InterBattery 2024 which will run from Feb. 6 to 8 at COEX in Seoul.Cell-to-pack technol
For four consecutive years, South Korea has maintained its position as the top country among 34 advanced and emerging markets worldwide in terms of household debt relative to gross domestic product (GDP). As of the end of last year, the ratio stood at 100.1 percent, slightly lower than the previous
SK on, a battery subsidiary of SK Innovation, a leading global battery manufacturer, announced today it will showcase battery cells highlighting advanced fast-charging solutions along with various products demonstrating its latest R&D achievements at the upcoming battery exhibition in Seoul.The Adva
LG Electronics and global big tech company Meta are joining forces to develop next-generation extended reality (XR) devices. LG Electronics announced on Feb. 28 that it is officially starting strategic cooperation with Meta to accelerate its XR business.Meta’s CEO, Mark Zuckerberg, visited LG Twin T
SK enmove announced on Feb. 28 that it has signed a memorandum of understanding for collaboration in the field of next-generation cooling solutions with SK telecom, South Korea’s leading telecommunications company, and Iceotope, a U.K.-based specialist in liquid cooling solutions. The signing ceremo
HD Hyundai Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries (HHI), Hyundai Mipo Shipbuilding, and Hyundai Samho Heavy Industries announced on Feb. 28 that they recently held a Marine Platform Technology Council meeting with Siemens Digital Industries Software at Hyundai Mipo Shipyard
During MWC Barcelona 2024, the Net5.5G-oriented products and solutions were launched by the President of Huawei's Data Communication Product Line, Leon Wang. He noted that new ultra-broadband applications such as immersive terminals and AIGC have brought new opportunities to carriers. In addition, n
Incheon Metropolitan City announced on Feb. 27 that European global investment firms had delivered letters of intent to Mayor Yoo Jeong-bok, expressing their intention to invest a total of US$6 billion in the city.On Feb. 26, Mayor Yoo received letters of intent for investments in Paris, France, fro
By combining three key factors—AI-powered real-time translation technology, expertise in professional translation, and know-how in video production—Flitto enhances the competitiveness of K-content and expands its reachFlitto (CEO Simon Lee, KOSDAQ 300080), an AI data solution and professional transl
Huawei hosted the 5G Beyond Growth Summit at MWC Barcelona 2024 today. At the summit, Li Peng, Huawei's Corporate Senior Vice President and President of ICT Sales & Service discussed how carriers can achieve business success in 5G and how 5.5G will further unlock the potential of networks and create
The Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced on Feb. 23 that they held an online briefing on the 2024 Secondary Battery U.S. Investment Strategy to help Korean companies break into the U.S. secondary battery market.The event was
The Ministry of SMEs and Startups announced it will hold the K-Business Day in the Middle East 2024 export consultation session on Feb. 27 in Riyadh, Saudi Arabia, and on Feb. 29 in Dubai, the UAE, in collaboration with the Korea Federation of Small and Medium Enterprises. This initiative aims to su
On Feb. 20, the Incheon Free Economic Zone (IFEZ) announced the inauguration of Yoon Won-seok, the former executive vice president of the Economic and Trade Cooperation at the Korea Trade-Investment Promotion Agency (KOTRA), as its 8th Commissioner. The position of Commissioner of the Incheon Free E
Consumers of Samsung Electronics’ Galaxy S22 series have filed a compensation lawsuit claiming that the Game Optimizing Service (GOS) installed in the product series degraded device performance. Samsung Electronics countered, stating, “There is a significant difference from the incident related to p
South Korea holds the potential to become a global battery supply base, necessitating a national strategy to realize this potential, according to claims made by industry experts. The Korea Chamber of Commerce and Industry’s Sustainability Growth Initiative (SGI) highlighted in its report on Feb. 22,
The legal battle between the sons of the founder of Hanmi Pharmaceutical -- Lim Jong-yoon and Lim Jong-hoon -- and the OCI Group has intensified. OCI Group holds a significant stake in Hanmi Science, the parent company of Hanmi Pharmaceutical Group. The legal battle remains on the question of integr
Governor Kim Jin-tae addressed the plenary session of the 325th Extraordinary Session of the Gangwon State Council on the 14th, delivering a New Year's speech. He expressed, "The recently discussed 4-day workweek will be a significant opportunity for the state," and asserted his determination to "th