Seoul Semiconductor announced on March 5 that it has filed a patent lawsuit against global retailer Amazon in the Unified Patent Court in Europe seeking a ban on the sale of infringing products.Seoul Semiconductor and its affiliates have obtained 15 injunctions against infringing manufacturers and s
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
Miky Lee, vice chairwoman of CJ Group, has been recognized as a visionary influencing Hollywood in the United States.According to CJ ENM on March 5, Vice Chairwoman Lee was featured in the special edition “2024 Hollywood Issue” of the prestigious American entertainment magazine Vanity Fair.Since 199
Samsung Electronics is set to make a groundbreaking reveal at an Nvidia event, showcasing a physical High Bandwidth Memory (HBM) 3E 12-tier (H), which is slated for mass production in the first half of this year.As Nvidia, a key customer of HBM, prepares to launch its next-generation artificial inte
HLB disclosed on March 4 that its board of directors has approved the issuance of 60 billion won in convertible bonds to domestic private equity funds and others. The primary purpose of this fundraising is to secure operational funds. Although the company currently holds over 65 billion won in cash
Hugel, Inc. announced on March 4 that it has obtained product approval from the U.S. Food and Drug Administration (FDA) for its botulinum toxin product Letybo in 50-unit and 100-unit dosages on Feb. 29, local time. This FDA approval marks Hugel as the first and only company in South Korea, and the t
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
Hanwha Foodtech, which is led by Hanwha Hotel & Resort Vice President Kim Dong-seon, the third son of Hanwha Group Chairman Kim Seung-youn, has acquired U.S.-based robot pizza brand “Stellar Pizza.”In January, Hanwha Foodtech signed a memorandum of understanding (MOU) with Serve Automation, the pare
The Korean government has set a higher plant order intake target for this year than 2023 and will provide intensive support to help Korean plant builders attain the goal. This is because the global plant market is expected to grow and Korean companies’ order-taking competitiveness has been strengthe
Only 14 percent of South Koreans work in large companies, versus 58 percent of Americans.Koh Young-sun, a senior research fellow at the Korea Development Institute (KDI), presented this statistic in a report titled “A Need for More Large-Company Jobs” released on Feb. 27, emphasizing the need to exp
South Korea’s exports in February of this year increased by 4.8 percent compared to the previous year, continuing the trend of “export growth” for the fifth consecutive month. Particularly noteworthy is the semiconductor exports, which recorded the highest growth rate in six years and four months. A
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
Lee Woong-yeol, the honorary chairman of Kolon Group, along with the corporation itself, have been indicted on charges related to the tampering of the ingredient of Invossa Injection, a treatment for osteoarthritis. The first trial is anticipated to conclude in the first half of the year, with a dec
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,
Woori Financial Group has established a strategic partnership with Mubadala, the sovereign wealth fund of the United Arab Emirates (UAE), between their respective subsidiaries.According to sources in the financial sector on Feb. 28, Woori Venture Partners, a subsidiary of Woori Financial Group, sign
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
On Feb. 26 (local time), Korea Hydro & Nuclear Power (KHNP) signed a letter of intent (LOI) with Centrus Energy Corp., a U.S. nuclear fuel and services supplier, in Washington, D.C., to pursue stable nuclear fuel supply.The latest LOI builds upon the memorandum of understanding (MOU) signed in April
The Ministry of Science and ICT announced that it participated in the ministerial session held at the Mobile World Congress (MWC) 2024, the world’s largest mobile exhibition in Barcelona, Spain, on Feb. 27. During the event, it introduced the South Korean government’s policies regarding the safe uti
Samsung Electronics and SK telecom have embarked on forming alliances with global operators to lead the development of 6G and integrate Large Language Models (LLM) into their services. While Samsung Electronics is co-establishing a consortium with big tech companies across various sectors such as te
Domestic game companies are putting significant effort into capturing the Middle East market. Based on “oil money,” this region possesses high financial power and purchasing capability but is still an untapped market due to inadequate communication infrastructure and other issues. Although the uncer