The Bank of Korea announced on Oct. 8 that South Korea’s exports and imports totaled US$45.15 billion and US$40.39 billion in August, respectively. Its goods account surplus fell from US$10.92 billion to US$4.77 billion in one year and hit a 67-month low.The goods account surplus has continued to de
Qatar Petroleum is expected to select builders for its LNG carriers within this year, raising expectations of the big three Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.Earlier market watchers speculated that Qatar migh
GS Engineering and Construction (E&C) will participate in a US$1.4 billion petrochemical plant project in Turkey as a major investor.The company announced on Oct. 8 that it signed a shareholder agreement with Rönesans Holding of Turkey to acquire a 49 percent stake in Ceyhan Petrokimya Endustriyel Y
Liberty Korea Party lawmaker Yoon Han-hong said on Oct. 7 that the Moon Jae-in administration’s nuclear phase-out policy has led to a total loss of 43 trillion won so far and it is divided into an 8.3 trillion won decline in Korea Electric Power Corp.’s net profit, 6.5 trillion won in renewable ener
The nation has been split into two groups, and the conflict and confrontation between them are getting worse without being addressed by politics as a system. The President is at the center of the conflict and division, and the politics of division in the streets is taking the place of systemic party
42Maru, a Korean startup specializing in question-answering artificial intelligence, announced on Oct. 8 that it has signed a memorandum of understanding with Singaporean consulting firm Intage to expand its artificial intelligence business in Southeast Asia.An MOU signing ceremony was held at the I
The Korean display industry desperately needs technological breakthroughs to break out of the current difficult situation, Lee Dong-hoon, president of Samsung Display and chairman of the Korea Display Industry Association (KDIA) said at the 10th Display Day held at JW Marriott Hotel in Seoul on Oct.
Korea Western Power Corp. announced on Oct. 7 that it has successfully tested prototypes of equipment and devices for desulfurization facilities that were produced by its own engineers through advanced 3D printing technology.The tests were carried out at a test bed installed at the company's pla
KCF Technologies (KCFT), a Korean copper foil supplier which will be soon taken over by SKC of SK Group, has begun mass production of 4-micrometer (μm) copper foil for electric vehicle (EV) batteries, becoming the industry’s first company to achieve the milestone.KCFT announced on Oct. 7 that it mas
The Big 3 Korean shipbuilders -- the Hyundai Heavy Industries Group, Daewoo Shipbuilding & Marine Engineering (DSME), and Samsung Heavy Industries -- are winning a growing number of orders for LNG-fueled vessels. They are already well recognized for their technological prowess in building LNG carrie
Lee Jae-yong, vice chairman of Samsung Electronics, flew to India to meet with leading Indian business leaders and promote the company’s mobile business.Lee visited Mumbai on Oct. 6 (local time), and was briefed on the status of Samsung’s mobile business from officials of Samsung Electronics India.
Samsung Electronics Co. will provide its science research grants for the second half of this year to a total of 26 future technology R&D projects.The 26 projects included seven in basic science, 10 in materials science and nine in information communications technology (ICT).Samsung Science & Technol
The Greenhouse Gas Inventory and Research Center of the Ministry of Environment announced on Oct. 7 that South Korea’s greenhouse gas emissions totaled a record high of 709.14 million tons in 2017, up 2.4 percent from a year earlier. The previous high was 696.7 million tons in 2013.Specifically, gre
SsangYong Motor slid two notches from third place to fifth in car sales rankings in the Korean market in September.It not only lost its third place in monthly sales to Renault Samsung but placed fifth after Mercedes-Benz for the first time this year.Hyundai Motor and Kia Motors came in first and sec
South Korean banks are seeing their earnings in China decrease due to the prolonged trade dispute between the United States and China and the slowdown in economic growth rates. However, they are showing higher profits in the Southeast Asian region, including Vietnam, thanks to the government’s New S
Pension funds and public funds, including the National Pension Service (NPS), are expected to tone down their aggressive stock purchasing after boosting the KOSPI market by purchasing large-cap stocks since August.As negative indicators of the global economy have recently been announced, an increasi
Foldable phones and dual-screen phones are competing for technology leadership in the emerging folding smartphone market. Foldable phones can be folded up and down or right and left, while dual screen phones connect two separate displays with hinges. .Foldable phones are pioneered by Samsung Electro
The South Korean government had spent 36 trillion won (US$30.08 billion) on buying U.S. arms alone over the past 13 years. The figure accounts for nearly 80 percent of the total.The Defense Acquisition Program Administration (DAPA) had imported 45.79 trillion won (US$38.25 billion) worth of overseas
Outside consultants of Hyundai Motor Group pointed out that the group’s required manpower can decrease by up to 40 percent as a result of a future change in automobile production technology.“With the focus of the industry shifting from manufacturing to service and digitalization, the group is likely
The Korea Exchange announced on Oct. 6 that Samsung Electronics, SK Hynix, Hyundai Motor, Celltrion and LG Chem were found on the KOSPI’s top 10 market cap list at the end of last year, at the end of the first half of this year and on Oct. 4 this year.POSCO, SK Telecom and Korea Electric Power Corp.