Hyundai Motor and Kia Corp. have decided to use lithium-iron phosphate (LFP) batteries produced by Indian companies in their customized electric vehicle models for the Indian market. Localizing batteries that account for 40 percent of the cost of producing electric vehicles is a way to lower prices
Samsung Electronics’ largest labor union opposed wage negotiation issues has secured the right to go on strike backed by overwhelming support in a member vote, sowing the seed of the first strike in the company’s history.On April 8, Samsung Electronics’ largest union, the Nationwide Samsung Electron
Despite challenging business conditions, South Korean petrochemical companies have been disclosed to make record-high investments in research and development (R&D). This strategic initiative is seen as an endeavor to strengthen competitiveness in emerging business sectors like high-value added (spec
Foreign investors are shedding their holdings in secondary stocks in each industry and concentrating on the top stocks. With the resurgence of confidence in the semiconductor sector, they are buying both the top and secondary stocks in the semiconductor industry, but their interest seems to be focus
As Hanwha Ocean assumes control of wind power generation and plant operations from Hanwha Corporation, it is initiating a full-scale expansion of its offshore wind value chain.According to industry sources on April 8, Hanwha Ocean is poised to acquire the wind power business from Hanwha Corporation’
During his visit to the United States, Treasury Secretary Janet Yellen met with China’s “second-in-command,” Premier Li Qiang, raising concerns once again over China’s issue of overproduction. Premier Li responded by stating that the low-cost production of solar panels and electric vehicles, which t
SK hynix has announced it will begin mass production of its 6th generation (1c) 10nm (nanometer) class DRAM within the third quarter of this year, positioning itself ahead of Samsung Electronics, which has plans for mass production by the end of the year.Industry insiders revealed on April 8 that SK
Seegene Inc., a leading South Korean company providing a total solution for PCR molecular diagnostics, announced today that Prof. Dame Jenny Harries, Chief Executive of the UK Health Security Agency (UKHSA), visited its headquarters located in Seoul Korea, on March 27.According to the company, Prof.
South Korea’s current account surplus has been in the black for 10 consecutive months as the South Korean semiconductor industry has recovered. The main positive factor is that the nation’s current account surplus is expected to continue as demand for semiconductors will grow this year.According to
While global ship orders in 2024 fell from 2023, orders for high-value-added ships such as liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carriers are on the rise, bringing smiles to Korean shipbuilders.According to Clarkson Research, a British shipbuilding and shipping market analyst
Recent opinion polls suggest that former President Donald Trump is leading in the race in swing states among potential candidates for the upcoming November U.S. presidential election, raising concerns about trade pressure from the United States. During his tenure, former President Trump considered t
Recently, it has been observed that the market capitalization of POSCO Group and Eco Group has evaporated by over 20 trillion won within a month due to the deteriorating performance of the secondary battery industry in the domestic stock market.According to the Korea Exchange on April 7, the combine
LG Innotek announced on April 7 that it has developed a “high-performance Light Detection and Ranging (LiDAR)” that triples the detection distance in adverse weather conditions compared to its predecessors.LiDAR, which uses infrared rays to measure distances, is considered an essential component for
With the global surge in artificial intelligence (AI) prompting major tech companies like Apple to consider incorporating next-generation glass substrates in semiconductor processes, South Korean conglomerates including SKC, Samsung Electro-Mechanics, and LG Innotek have joined the fray, heralding a
With the amendment of the Export-Import Bank of Korea Act, the legal capital limit for the Export-Import Bank of Korea (Korea Eximbank) has significantly increased. However, there is a discrepancy between the government and industry regarding how and how much the government will invest in Korea Exim
LG Energy Solution is investing 7.2 trillion won to build a battery production plant in Arizona in the U.S. This investment represents the largest single battery plant investment in history. Despite concerns about a “chasm” in the electric vehicle market, which refers to a temporary slowdown in mass
Korea’s shipbuilding order intake surpassed China’s for the first time in three years in the first quarter of 2024.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that shipbuilding orders in the first quarter of this year totaled US$13.6 billion, surpassing China’s US$12.6 billio
Governor Eric J. Holcomb, Secretary of Commerce David Rosenberg and Purdue University President Mung Chiang joined federal partners and executives of South Korea-based SK hynix Inc., the world’s leading producer of High-Bandwidth Memory (HBM) chips, today as the company announced plans to establish
The government plans to invest 500 billion won over the next five years in five additional specialized complexes for materials, parts, and equipment, aiming to develop them into core bases for the supply chain. Space, aerospace, defense, and hydrogen are newly added as strategic technology sectors,
In the span of 9 months, the number of South Korean users on the Chinese e-commerce platform TEMU has increased elevenfold. With the surge in user numbers, TEMU has been actively seeking to establish a South Korean corporation and is on the lookout for domestic advertising agencies to intensify its