The Ministry of Commerce of China made a preliminary determination on March 22 that some stainless steel products imported from South Korea, Indonesia, Japan and the European Union have been dumped.The products in question include stainless steel ingots and hot-rolled products. Claiming that the pro

Renault Samsung Motors will launch a compact sports utility vehicle (SUV) in the Korean market next year. The carmaker plans to fill the vacuum to be created by the discontination of the Nissan Rogue production from this September by boosting sales of the new SUV.Renault Samsung Motors planned to la

Hyundai Mipo Dockyard, a subsidiary of Hyundai Heavy Industries Group, announced on March 21 that it recently inked a contract with an Asian shipping company to build three 2,500-TEU container ships worth 120 billion won.The container ships are each 197 meters long, 32.5 meters wide and 16.8 meters

Daewoo Engineering & Construction (E&C) Co. announced on March 21 that it signed a memorandum of understanding (MOU) on the construction of a 450 MW power generation facility at Western Mountain Combined Cycle Power Plant with General Electricity Co. of Libya (GECOL) at its headquarters on March 20.

SK Innovation Co., South Korea's top oil refiner, has decided to spin off its materials business unit that the company has been promoting as its new growth engine.The company announced on March 21 that its shareholders have approved a plan to spin off its electronic materials unit at the shareho

Ilyang Pharmaceutical announced on March 21 that it will export its seasonal influenza vaccine to Bangladesh, following the Bangladesh health authority’s approval given on March 20.The deal is meaningful for Ilyang as it represent’s its first overseas export after entering the vaccine business.Throu

Hyundai Mobis announced on March 20 that it has signed a memorandum of understanding (MOU) with Yandex, Russia's largest internet search engine provider, for joint development of a deep learning-based autonomous driving platform at its ICT Research Center in Yongin, Gyeonggi-do.Hyundai Mobis and

Samsung BioLogics announced on March 20 that it has concluded a contract development organization (CDO) contract with Eutilex, a Korean biotech company, to develop cancer immunotherapies.The two companies expect to accelerate the development of new drugs through synergy between Samsung BioLogics'

Renault Samsung Motors is standing at a crossroads. Renault Group in France has recently announced a plan to reorganize its regional headquarters system, which would transfer Renault Samsung Motors from the Asia and Pacific headquarters to the Africa, the Middle East, India and the Pacific headquart

Doosan Heavy Industries & Construction Co. has won a large-scale thermal power plant construction project in Indonesia.The company announced on March 20 that it has signed a deal with Indonesia’s PT Indo Raya Tenaga (IRT) to build Jawa 9 and 10 power stations. It formed a consortium with Indonesia’s

SK Innovation announced on March 20 that it held a groundbreaking ceremony for an electric vehicle (EV) battery plant at Commerce, Jackson County, Georgia in the United States on March 19 (local time).The plant represents SK Innovation’s first direct investment in the United States and is expected t

The U.S. Department of Commerce recently decided to apply an anti-dumping duty rate of percent to plated steel sheets Hyundai Steel exports to the United States.Back in May 2016, the department imposed an anti-dumping duty of 47.8 percent on Hyundai Steel, 8.75 percent on Dongkuk Steel, and 28.28 pe

Sungjee Construction Co. announced on March 15 that it has signed a memorandum of understanding (MOU) with Indonesian state-owned port company PT. Pelabuhan Indonesia 1 (Persero) for joint development of Tanjung Sauh Container Port.The project calls for building a container port on Batam Island in t

The labor union of Renault Samsung Motors will go on strike only at some selected work sites in order to put pressure on the management.The company’s labor union and management have failed to narrow differences since the breakdown of intensive negotiations held early March. Experts say that no deal

Lee Won-hee, president of Hyundai Motor, has recently expressed his aspiration to elevate the automaker to third place in the global electric vehicle (EV) market.Lee said at an "Investor Day" event held at the end of February that Hyundai Motor would ramp up its electric car models to 44 by 2025, in

Hyundai Motor and Kia Motors will invest US$300 million (338.4 billion won) in Ola Cabs, the largest car hailing company in India, the two companies announced on March 19.Hyundai Motor and Kia Motors have inked an agreement on investment and strategic business cooperation with Ola Cabs. Under the ag

Global rating agency Standard & Poor's (S&P) has warned that the credit ratings of South Korean companies can be downgraded this year.S&P released a report on South Korean companies on March 19. “The credit ratings of South Korean companies seem to have entered a cycle of gradual decline from th

SK Innovation Co. has raised its stake in Beijing BESK Technology Co. (BESK), an electric vehicle (EV) battery producer jointly established with China’s state-run Beijing Electronic and Beijing Automotive Industry Holdings, from 40 percent to 49 percent.The company set up the joint venture company i

Hyundai Motor Co. is developing an electrification platform which turn commercial vehicles, including large trucks, into environmentally friendly cars. This is part of its preemptive response strategy to brace for a higher demand of green commercial vehicles worldwide. The electrification platform i

Korean employers are protesting against the Economic, Social and Labor Council for social dialogues, saying that the council is discussing the ratification of the ILO Basic Agreement in favor of the labor.The Korea Employers Federation (KEF) became furious as members of the Labor-Management Relation