LG Chem announced on Jan. 18 that it has signed a master agreement in Rome, Italy, with ENI to establish a joint venture for next-generation bio-oil. The signing ceremony was attended by key figures including Claudio Descalzi, CEO of ENI; Stefano Ballista, CEO of ENI Live; Vice Chairman Shin Hak-che
South Korean battery companies are reportedly exploring the possibility of establishing a lithium processing plant in Chile, the world’s largest holder of lithium reserves. According to Bloomberg on Jan. 19 (local time), Invest Chile, the foreign investment promotion agency of the South American nat
Hyundai Motor India Ltd. (HMIL) has completed acquisition and assignment of identified assets at General Motors India’s Talegaon Plant in Maharashtra. The acquisition has been completed post fulfilment of certain conditions and receipt of regulatory approvals from relevant government authorities and
Samsung Electronics has incorporated its next-generation mobile application processor (AP), the Exynos 2400, into the latest premium smartphone, the Galaxy S24 series.On Jan. 17, Samsung Electronics hosted Galaxy Unpacked 2024 at the SAP Center in San Jose, California, in the U.S., where they unveil
Minister of SMEs and Startups Oh Young-Ju met with the startup winners of the CES 2034 Innovation Awards on Jan. 18 for a discussion.The meeting, held at the Seoul Center for Creative Economy & Innovation, aimed to encourage the representatives of the winning ventures and startups and to listen to t
Cho Hyun-sang, vice chairman of Hyosung Group, attended the World Economic Forum (WEF, also known as the Davos Forum) to communicate with global leaders and explore new business opportunities for Hyosung Group, a global company in the materials sector.This year marks the 54th World Economic Forum, h
LG Innotek is speeding up its entry into the camera market for autonomous driving and the optical component market for Extended Reality (XR) by joining forces with a global lens manufacturing enterprise.LG Innotek announced on Jan. 18 that it has signed a main contract with AOE Optoelectronics, a Ta
Almac, a Korean electric vehicle (EV) parts company, announced on Jan. 18 that it has signed a new contract with Kenona, a U.S. EV parts company, to supply EV platform frame parts worth 10.7 billion won (US$8.00 million).The ordered parts will be supplied from February to October. Almac will supply
HD Korea Shipbuilding & Offshore Engineering (KSOE) and Samsung Heavy Industries announced on Jan. 18 that they have won two orders for very large ammonia carriers (VLACs) side by side. As demand for ammonia, an eco-friendly energy, is rising, more shipping companies are preparing to transport it by
Hyundai Motor and Kia Corp. sold more than 1.1 million vehicles in Europe in 2023, setting a new record for annual sales.Hyundai and Kia sold 1,106,467 units in Europe in 2023, up 4.3 percent year on year according to the European Automobile Manufacturers’ Association (ACEA) on Jan. 18. This surpass
The Ministry of Trade, Industry and Energy (MOTIE) announced on Jan. 18 that Deputy Trade Minister Yang Byung-nae met with a delegation of companies, including Solid Power Chief Operating Officer Derek Johnson, who visited the ministry to discuss cooperation in the field of next-generation batteries
Hwang Joo-ho, the CEO of Korea Hydro & Nuclear Power (KHNP), has been engaging in activities to secure the Dukovany new nuclear power plant project in the Czech Republic for two days from Jan. 16.On Jan. 17, CEO Hwang visited the Czech Power Company (CEZ) and the Czech Ministry of Industry and Trade
POSCO International announced on Jan. 18 that it has secured an order for 1.03 million units of drive motor cores. These cores will be utilized in electric vehicles of the Seltos class, which Hyundai Motor and Kia Motors plan to produce locally in Europe from 2025 to 2034. The drive motor cores will
A forecast has emerged predicting substantial growth in South Korea’s exports this year. On Jan. 18, the Bank of Korea (BOK) published an issue note titled “Assessment and Insights on Global Growth and Trade Post-Pandemic – BOK Issue Note.”The BOK foresees an expansion in South Korea’s export growth
The won-dollar exchange rate has been on the rise, leading to an influx of foreign selling. The KOSPI index experienced volatility as foreign investors unloaded their holdings, causing it to fall below the 2440 level from the previous day.On the morning of Jan. 18, the KOSPI is indicating a modest r
The Large Language Model (LLM) developed by MOREH, an AI infrastructure solution company, ranked first globally with a high score of 77.29 points in the ‘Open LLM Leaderboard’ evaluation run by Hugging Face, the world’s largest machine learning platform.'Open LLM Leaderboard' is a development platfo
SK telecom announced on Jan. 17 that it has signed a memorandum of understanding (MOU) with Vetology Innovations of the United States, targeting the U.S. market with its product, named X Caliber, during the world’s largest veterinary event, VMX2024, currently underway in the U.S.X Caliber is a diagn
SK D&D and SK gas announced on Jan. 16 that they have established a joint venture, SA Grid Solutions, with Apex Clean Energy, a U.S.-based renewable energy company, and signed an investment agreement for an Energy Storage System (ESS) business.Previously, in December 2023, SK D&D and SK gas founded
Hanmi Pharmaceutical Group’s eldest and second sons, President Lim Jong-yoon and President Lim Jong-hoon, have filed an injunction against the merger of Hanmi Group and OCI Group.President Lim Jong-yoon, through the X (formerly Twitter) account of his personal company Corey Group, announced on Jan.
Samsung Electronics’ Device Solutions (DS) Division executives have decided to freeze their salaries in response to the division’s deteriorating performance.The executives of the Samsung Electronics DS Division held an emergency executive meeting on Jan. 17 to reaffirm their commitment to swiftly en