H2KOREA, a private-government body launched to promote hydrogen convergence alliance, will step up hydrogen cooperation with Australia.H2KOREA chairman Moon Jae-do and Fiona Simon, CEO of the Australian Hydrogen Council, announced on Nov. 12 that Korea and Australia have signed an agreement on mutua
Hyundai Motor has won the World Rally Championship (WRC), one of the world's top-class motor sports races. This is the first time that a Korean car has won the auto racing championship recognized by the Federation Internationale de l'Automobile (FIA) as the highest class of international ral
Samsung Electronics, which has been persistently attacked by non-practicing entities (NPEs) or “patent trolls,” has filed a complaint with a U.S. court to prevent an NPE from litigating repeatedly. As the number of lawsuits filed by NPEs against Korean companies steadily increased to reach 580 over
With Korea’s vehicle output falling rapidly, the number of employees in the automobile industry declined by about 10,000 this year. That is, about 1,000 workers per month have left the industry. As the automobile industry, which is a foundation of the Korean manufacturing industry, undergoes a crisi
Techfin Asia 2019, which will take place in Seoul on Dec. 5-6, is aimed at discovering how far the disruptive technologies can go in today’s developed financial sector.On the agenda of Techfin Asia 2019 will be artificial intelligence (AI), big data, blockchain, cloud computing, open banking, e-comm
The Ministry of Trade, Industry and Energy announced on Nov. 12 that it designated Jeju City as a regulation-free zone for more convenient electric vehicle (EV) charging services.Specifically, five private companies will set up an EV charger sharing network so that approximately 10,000 chargers in J
Samsung Heavy Industries’ labor and management representatives have recently visited Malaysia together to attend an event organized by the company’s client. It is a stark contrast to situations at other Korean shipbuilders that are still suffering from labor conflicts.Nam Joon-woo, president of Sams
Global display makers have waged intense competition to lead the liquid crystal display (LCD) market in recent several years and now they are turning their eyes to the rapidly expanding organic light emitting diodes (OLED) market.Samsung Display and LG Electronics, which are strong in small and larg
HDC Hyundai Development Co. took over Asiana Airlines by suggesting a price of approximately 2.4 trillion won whereas the other bidders suggested less than two trillion won. It is too early to pop the champagne though. HDC and its partner Mirae Asset Daewoo are supposed to deal with important issues
Korea’s electric vehicle (EV) exports for this year have more than doubled from those of 2018 as EV sales by Hyundai Motor Co. and Kia Motors Corp. are expanding in major markets such as the United States and the European Union.Korea’s EV exports amounted to US$2,566 million in the January-October p
Sangyo Times chief editor Izumiya Wataru said at a seminar on Nov. 11 that South Korean semiconductor companies need to focus more on next-generation memory chips and devices rather than material import replacement while maintaining their current value chain based on a win-win relationship with Japa
The Fair Trade Commission (FTC) of South Korea announced on Nov. 11 that a total of 23 large business groups were under a group-wide holding company system as of September this year, up from 22 a year ago.The FTC defined the group-wide holding company system as the total assets of the holding compan
As Morgan Stanley Capital International (MSCI) has recently announced a plan to rebalance its emerging market index, Korea’s stock market has been divided over whether it will cause an outflow of funds.MSCI has announced that it will raise the proportion of China A-shares in its emerging market (EM)
Cracks were reportedly found on 13 out of 150 Boeing 737 Next Generation (NG) planes operated by Korea’s airlines, prompting the Korean government to ban the operation of all the 737 models. Korean Air, and Jeju Air and other low-cost carriers (LCC) which are operating Boeing’s 737NG jets are likely
Korean Air CEO Woo Ki-hong said on Nov. 11 that the South Korean government’s excessive regulations and excessively customer-oriented policies led to the current issues related to Asiana Airlines.“Trade disputes between South Korea and Japan have deteriorated South Korean airlines’ business conditio
The Federation of Korean Industries (FKI) announced on Nov. 11 that the number of Chinese tourists visiting South Korea, which amounted to 8,068,000 in 2016, dropped to 4,790,000 last year in the wake of the China National Tourism Administration’s ban on group travel to South Korea implemented in Au
KT announced on Nov. 10 that it has launched a pilot “Giga Energy Manager Building” service that efficiently manages and controls energy in mid-sized and large buildings based on artificial intelligence (AI).The Giga Energy Manager Building service combines a building automation system (BAS) with KT
LG Electronics filed a patent infringement lawsuit against TCL of China with the Mannheim District Court and the Dusseldorf District Court in Germany on Nov. 6.The gist of the lawsuit is that some of the technologies applied to TCL’s feature phones and smartphones violated LTE standard patents held
China is about to issue a digital version of the yuan based on blockchain and cryptocurrency technologies. Its five-year plan for fintech firm growth, which resulted in global fintech giants such as Alibaba and Tencent, comes to an end next year and the issuance is likely to become another quantum j
With the IMO 2020 sulphur regulations set to go into effect from next year, the price difference between bunker C oil, a type of residue oil, and gasoline, kerosene and diesel is widening. Demand for bunker C oil, a fuel with a high sulphur content, is sharply decreasing in the marine fuel market.Ac