Hyundai Rotem, as a leading contender in the terrestrial weapon systems, is recognized globally for its top-tier competitive and technological prowess. Its market strategy includes an impressive portfolio of terrestrial weapon systems from the latest K2 tanks to wheeled armored vehicles and a compre
Hanwha Ocean unveiled its latest combat vessel, a domestically produced medium-sized 3,000-ton submarine, and a future unmanned command and control ship at Seoul International Aerospace & Defense Exhibition (ADEX) 2023, which runs until Oct. 20, as announced on Oct. 19.The showcased KSS-III Batch-II
The European Union (EU) has shown interest in incorporating nuclear power generation into the scope of the “Net-Zero Industry Act (NZIA),” which supports environmentally friendly industrial investments. This development could provide impetus to South Korea's efforts to promote the international expa
South Korean defense industry firms have entered into a second-stage weapons export contract with Poland worth 30 trillion won (US$22.12 billion). This would elevate South Korea to the fourth-largest defense industry exporter worldwide in one go. However, the finalization of the contract, which was
The Korea International Trade Association (KITA) announced on Oct. 16 that it held a Rebuild Ukraine Business Dialogue in Warsaw, Poland, in collaboration with the Ukrainian Chamber of Commerce and Industry and the Korea-Ukraine New Building Association (KUNBA).The event was held to discuss ways to
Hyundai Engineering & Construction (Hyundai E&C) hosted a special lecture titled “The Innovation and Advancement of Nuclear Power Technology and Future Energy” on October 11th at the company's headquarters in the Jongno district of Seoul. The guest speaker for the event was Dr. Kris Singh, the found
South Korea has signed a Free Trade Agreement (FTA) with the United Arab Emirates (UAE), marking its first such agreement with a Middle Eastern country and its 24th FTA overall.The Ministry of Trade, Industry and Energy announced that Ahn Deok-geun and Thani bin Ahmed Al Zeyoudi concluded Comprehens
Korea Hydro & Nuclear Power (KHNP) inked a consortium agreement on Oct. 12 with Romania’s nuclear agency, SNN, based in Bucharest, along with Canada’s Candu Energy and Italy’s Ansaldo Nucleare, to collaboratively undertake the equipment improvement project for Romania’s Cernavoda Unit 1.The project,
The Carbon Free Alliance (CF Alliance), proposed by President Yoon Suk-yeol during the UN General Assembly last month, has been officially launched in South Korea on Oct. 12. Major domestic corporations, including Samsung, Hyundai, SK, LG, POSCO, and Hanwha, have joined the CF Alliance.The Ministry
Iranian funds, frozen in South Korea and later released, have once again become a topic of controversy. This is because the possibility was raised that the US$6 billion of Iranian funds, which had been held up in South Korea, were suspected to have been transferred to the Palestinian militant group
As the sole operator of nuclear power plants in the country, Korea Hydro & Nuclear Power (KHNP) has turned its attention towards revitalizing nuclear small and medium-sized enterprises which have been struggling with a shortage of projects. The initiative begins with the Shin Hanul Nuclear Power Pla
Last month, during the United Nations General Assembly, President Yoon Suk-yeol proposed the Carbon Free Alliance (CFA). Leading corporations such as Samsung Electronics, SK Hynix, and Hyundai Motor, which previously committed to RE100 (100% renewable energy), have now joined the alliance. The shift
As the global energy market is rapidly changing, South Korea, the world’s third-largest importer of liquefied natural gas (LNG) after Japan and China, is also closely monitoring the situation.According to the Korea Customs Service on Sept. 3, South Korea’s cumulative LNG import volume and import val
On Sept. 20, President Yoon Suk-yeol proposed the formation of a “Carbon Free Alliance” to the international community during the United Nations General Assembly held in New York. This proposal includes bringing forward Carbon-Free Energy (CFE), which encompasses nuclear power and hydrogen energy, a
The Korea Fair Trade Commission (KFTC) has punished U.S. semiconductor company Broadcom for allegedly forcing Samsung Electronics to sign a long-term contract to purchase parts for smartphones.The Korean market watchdog announced on Sept. 21 that it has decided to slap a fine of 19.1 billion won (US
Westinghouse clarified its position on Sept. 19 (local time) that it will appeal to the U.S. District Court in Washington, D.C. with regard to the court’s ruling to dismiss a lawsuit filed by Westinghouse to block Korea Hydro & Nuclear Power (KHNP)’s export of nuclear reactors via a statement from D
A nighttime view of the Wolseong Nuclear Power Plant Shin-Wolseong Units 1 and 2Despite a lawsuit filed by U.S. nuclear company Westinghouse against Korea Hydro & Nuclear Power (KHNP) to hinder its standalone nuclear power exports being dismissed by a U.S. court, Westinghouse has indicated its inten
On Sept. 18 (local time), a U.S. court has dismissed a lawsuit filed by U.S. nuclear power company Westinghouse to prevent Korea’s state-run nuclear power generator Korea Hydro & Nuclear Power (KHNP) from exporting its independently developed nuclear reactors.KHNP is a rival of Westinghouse. The Kor
The government is entering into follow-up work to pursue the joint development of lithium mines proposed by Ukrainian President Volodymyr Zelensky.During a meeting with the Ministry of Land, Infrastructure, and Transport (MOLIT) press corps on Sept. 18, Minister Won Hee-ryong said, “President Zelens
KEPCO KPS, led by CEO Kim Hong-yeon, has secured a power plant maintenance contract in South Africa valued at approximately 850 billion won.KEPCO KPS signed an agreement to maintain 16 thermal and nuclear power stations owned by South Africa's electricity company, ESKOM, at a sum of 848 billion won.