Hyundai Engineering & Construction (E&C) is on the cusp of entering the global top 10, having secured the 11th spot in the “Top 250 International Contractors” ranking for 2023, as announced by the U.S.-based construction engineering magazine Engineering News Record (ENR). ENR annually ranks global c
Naver has unveiled HyperClova X, a new generative artificial intelligence (AI) platform. Naver will build an AI ecosystem and establish a model for mutual growth with Korean startups through the AI platform.At the DAN23 Conference held at the Grand InterContinental Seoul Parnas on Aug. 24, Choi Soo-
Kim Byung-gu, the head of LG Display’s automotive business group and executive vice president, unveiled LG Display’s OLED displays designed for automotive use and introduced the entire portfolio of premium brands involved in automotive production and development for the first time at IMID 2023, whic
The key focus of the economic collaboration announced at Camp David between South Korea, the U.S., and Japan is the mitigation of “China Risk.” This cooperative effort is aimed at countering China’s growing influence in high-tech industries by jointly tackling supply chain disruptions and technologi
Hapag-Lloyd, based in Germany and the fifth-largest shipping company in the world, is currently considering participating in the acquisition bid for Hyundai Merchant Marine (HMM), the largest shipping company in South Korea, which is currently offering a sale.According to investment banking (IB) ind
The Korean Ministry of Science and ICT will enter the global market for open radio access network (ORAN) services in earnest with the public-private partnership front and center.On Aug. 16, the ministry announced the direction of its ORAN policies and will hold a proclamation ceremony for the ORAN I
SK telecom (SKT) today announced that it is investing additional USD 100 million in Anthropic, an AI safety and research company based in San Francisco. This follows the previous investment from SK Telecom Venture Capital (SKTVC), the Silicon Valley-based venture capital arm of SKT. SKT has entered
Samsung Electronics will announce a new vision for system semiconductors at the Samsung Tech Day 2023 to be held this October. The Korean semiconductor giant will flesh out its plans to develop and produce “semicon humanoids,” or more human-like robots, with human sensory functions such as smelling
Woori Bank announced on Aug. 6 that it entered into a strategic alliance on Aug. 4 with BuildBlock, a U.S. real estate investment platform company, to provide comprehensive real estate investment services.BuildBlock is a Korean startup headquartered in Silicon Valley and was selected as a promising
The semiconductor battle between the United States and China is escalating. The U.S. has imposed sanctions on semiconductor exports to China, citing threats to national security, to which China responded by blocking exports of key semiconductor minerals. The U.S. is now considering restricting even
LS Group has augmented its new investment plan for the Saemangeum National Industrial Complex by an additional 840.2 billion won (US$642.35 million), expanding its initial 1 trillion won commitment. This move signifies LS Group’s resolute endeavor to pursue “full domestic production” in the competit
On July 3, CJ Logistics announced that it has signed a strategic partnership memorandum of understanding (MOU) with the 7th global container shipping company, Japan’s Ocean Network Express (ONE).Through this business agreement, both companies have agreed to actively cooperate in providing competitiv
As global automakers such as Hyundai, Volkswagen, and Ford are establishing new electric vehicle production bases primarily in North America, domestic auto parts and electronics firms are following suit in droves. Even secondary suppliers are concentrating their new investments and employment in the
South Korea, the United States, and Japan recently and simultaneously announced that a trilateral summit involving President Yoon Suk-yeol of Korea, President Joe Biden of the United States, and Prime Minister Fumio Kishida of Japan will be held at Camp David, the U.S. Presidential Retreat, on Aug.
SK Inc. has laid out an ambitious plan to invest 23 trillion won (US$17.82 billion) in eco-friendly initiatives by 2025, with a primary focus on “energy transition.” SK Group Chairman Chey Tae-won has shown keen interest in transforming SK’s business landscape from a petroleum-centric structure to o
China’s decision to impose export controls on gallium and germanium beginning on Aug. 1 in response to U.S. export restrictions has Korean semiconductor, display, and battery industries on edge.According to industry sources on July 31, the Korean semiconductor, display, and secondary battery industr
On July 27, SK telecom held the “Global Telco AI Alliance CEO Summit” in the Seoul Walkerhill hotel, attended by key executives from leading global telecommunications companies in Europe, the Middle East, and Asia. SK telecom and other global telecommunications companies have come together as one te
Samsung Electronics and LG Display are expanding their alliance to include 77-inch organic light-emitting diode (OLED) TVs after the 83-inch models. The alliance with LG Display is expected to expand to LCDs due to a patent dispute between Samsung Electronics and BOE of China.According to industry s
KT Group will invest 15 billion won in Moreh, a Korean artificial intelligence (AI) infrastructure software company. The company plans to make a major change in domestic AI service and solution ecosystems that rely on Nvidia’s software by joining forces with companies with unique technologies in the
Korea Aerospace Industries (KAI) is actively pursuing exports of its FA-50 light attack aircraft to the United States, the world’s largest defense market. The export is expected to be worth 44 trillion won (US$35 billion), and, if successful, it would greatly boost the global standing of the Korean