Hyundai Engineering and Construction (E&C) announced on July 10 that it has signed US$2.7 billion contracts with Saudi Aramco to execute Package 6 and Package 12 of the Marjan Development Program.A contract signing ceremony was held at the Saudi Aramco Dharan Office in Saudi Arabia on July 8 with th

Hyundai Motor Co. has moved up the start of its volume production of autonomous vehicles to 2024, around the time when Mercedes, BMW and other global automakers are expected to begin mass production of self-driving cars.Hyundai Motor plans to introduce sophisticated autonomous driving technology tha

South Korea’s direct investment in Japan came to 317 billion won (US$268.30 million) in the first quarter of this year, up 42 percent, or 95 billion won (US$80.41 million), from a year earlier.South Korean companies invested 25.90 billion won (US$22.01 million) in January, 49.50 billion won (US$42.0

The Hi-Touch Marine and Stationary Engine (HiMSEN Engine) developed by Hyundai Heavy Industries has entered the Indian nuclear power plant market.Hyundai Heavy Industries said on July 9 that it has recently signed an agreement with India's privately-owned power company Powerica to supply an emer

Korean shipbuilders took first place for two consecutive months in June by landing half of the global shipbuilding orders.Global shipbuilding orders totaled 660,000 CGTs or 18 vessels in June, according to Clarkson Research, a U.K. analyst of the shipbuilding industry, on July 9. Korea accounted for

The labor union of Samsung Electronics Service, a company that is responsible for repairing Samsung Electronics products, is set to go on strike.If the union walks out, Samsung Electronics Service will become the second company, following SI, among Samsung Group affiliates to suffer a strike due to

Shin Hak-cheol, vice chairman of LG Chem, confidently said on July 9 that even if Japan restricts exports of battery materials, LG Chem can overcome it by diversifying raw material supply sources.“We are already writing scenarios to be prepared," Shin said in his first news conference since taking o

Korea Electric Power Corp. (KEPCO) announced on July 9 that it has developed a sulfur hexafluoride (SF6) refining device which recycles SF6 emissions from discarded shutters and transformers.SF6 is a greenhouse gas whose global warming effects are 23,900 times those of carbon dioxide. SF6 is used as

A South Korean consortium led by Korea Airports Corp. (KAC) has won a 35 bilion won (US$30 million) deal to oversee the construction of Chinchero International Airport in Peru. KAC has also landed a deal to operate Manta Airport in Ecuador until 2050.KAC announced on July 9 that the South Korean con

LG Display CTO Kang In-byeong said on July 9 that the company is currently testing Chinese and Taiwanese hydrofluoric acid with regard to Japan’s semiconductor and display material export restrictions. “The impact of the restrictions on our OLED panel and rollable TV production is nothing to worry a

Cross-shareholding arrangements among affiliates of South Korean chaebol business groups are becoming a thing of the past under the government's strong corporate reform drive. The South Korean government held its third meeting on chaebol reform and fair economy on July 9. The first and second me

UlikeKorea Co., a Korean ICT startup well-known for its "LiveCare" livestock healthcare technology, announced on July 9 that it has surpassed 500 million data points for cattle disease big data, including data on foot-and-mouth disease, ketosis, and mastitis.UlikeKorea was established in 2012 and la

Samsung Heavy Industries has built the world’s largest container ship that is 400 meters long, 61.5 meters wide and 33.2 meters high.Samsung Heavy Industries said on July 8 that it had successfully completed the construction of a 23,000-TEU container ship that can carry 23,756 20-foot containers at

The price of polysilicon, a core material for solar modules, has plummeted by more than 50 percent in less than one and a half years. Korean polysilicon producers, who have been suffering from a price war that was sparked off by Chinese companies more than a year ago, are being pushed to the point o

NXC Corp. CEO Kim Jung-ju has recently informed potential buyers of his company of his decision to scrap the bidding process. Kim recently sent an e-mail to participants in the public tender through Morgan Stanley, the leading manager of the sale. He also individually contacted the leaders of the co

Hyundai Motor America is recruiting a lot of people across the United States for sales prediction and analysis and engineer positions. Hyundai Motor’s sales in the United States showed a positive growth for 11 months in a row until last month, led by its new SUVs. Under the circumstances, the compan

Samsung Electronics vice chairman Lee Jae-yong flew to Japan on July 7 to deal with Japan’s display and semiconductor material export restrictions. The next day, he discussed the issue with a number of local entrepreneurs, expressing concerns that the restrictions may negatively affect Samsung Elect

Samsung C&T has won a multi-purpose mall project worth 270 billion won in Malaysia.The company announced on July 7 that it has recently received a letter of acceptance for its bid on the KLCC Podium Building project from Arah Moden, a property developer in Malaysia.The US$179 million project involve

SK Trading International (SKTI), a subsidiary of SK Innovation that specializes in trading of petroleum products, will expand its supply of low-sulfur oil to the Asia-Pacific region six-fold next year as demand for low-sulfur oil for ships is expected to surge due to the new environmental regulation

Hanmi Pharmaceutical announced on July 3 that its partner Janssen has returned the rights of the obesity and diabetes treatment HM12525A that the Korean pharmaceutical company has licensed out for 1 trillion won.Hanmi Pharmaceutical does not have to return a down payment of US$105 million (about 123