Small and medium-sized Korean cosmetics companies are making a splash in the Japanese market.According to industry sources on May 23, small and medium-sized Korean beauty brands are making great achievements in the Japanese market as they are targeting online and offline simultaneously based on thei
HD Korea Shipbuilding & Offshore Engineering (KSOE) announced on May 19 that it has signed a contract on the construction of two petrochemical carriers (PCs) with an African shipping company. The order is 117.3 billion won (US$88.51 million). The ships will be built by Hyundai Mipo Shipbuilding and
Huawei, which has been hit hard by the U.S. ban on semiconductor equipment exports to China, made a winning move by entering the digital transformation (DX) business in the industrial field.The Chinese IT giant held the Huawei Asia-Pacific Partner Conference 2023 in Shenzhen, China, on May 17 (local
Samsung Electronics will establish a semiconductor research and development (R&D) center in Japan. The move is seen as a strategy to shorten R&D time through close cooperation with Japan’s leading material, parts, and equipment companies.Samsung Electronics is considering investing 30 billion yen (a
KB Kookmin Bank announced that KB Bukopin, a subsidiary of KB Kookmin Bank in Indonesia, signed a memorandum of understanding (MOU) with local energy company Indika Energy Group to rev up electric vehicle ecosystems in Indonesia.Established in 1970, KB Bukopin has a history of more than 50 years and
Korea Midland Power (KOMIPO) said that it explored the Philippine power market with nine excellent partners for three days from May 2 to 4.KOMIPO’s market development team held a technical seminar and a one-on-one purchase consultation session with officials from FDC Power Plant under Filinvest Grou
Samsung Electronics has suffered from an abuse of power at the hands of Broadcom, a U.S.-based semiconductor company, after a similar incident involving Qualcomm. Broadcom had proposed to the Korea Fair Trade Commission (KFTC) to pay 20 billion won (US$15 million) in stimulus funds as a voluntary co
Korea South-East Power announced that it submitted two inventions to the 2023 Geneva Invention Exhibition held in Geneva, Switzerland, from April 26 to 30, and took home a total of four prizes –- the Gold, Silver, and Saudi Arabian and Polish Special Prizes.Korea South-East Power submitted a system
“We will increase Korea’s electric vehicle production capacities five times by 2030 to grow Korea into one of the top three global future car powerhouses,” President Yoon Suk-yeol emphasized on April 11. Hyundai Motor Group also announced its strong will to seize the hegemony of the electric vehicle
The semiconductor industry and business community welcome the so-called K-Chips Act, which was passed by the National Assembly plenary session on March 30.According to the amendment to the Act on Restriction of Special Taxation, the tax deduction rate for capital investment in national strategic ind
A race to dominate the global panel market for organic light-emitting diode (OLED) panels is rapidly reshaping into a three-runner race with Korea in the front, China in the middle and Japan in the back. The three are spaced far apart.Korea is enjoying the dominance of the OLED panel market but has
On March 27, LG Display announced that it would borrow 1 trillion won (US$771 million) from LG Electronics to sharpen its OLED business competitiveness and preemptively secure operating funds. The borrowing period is three years, from March 30 2023 to March 30, 2026. Its interest rate is 6.06 percen
The interest rate gap between Korea and the United States widened to a record high as the U.S. Federal Reserve took the baby step of raising its key interest rate by 0.25 percentage points. As the possibility of overseas capital outflows increased due to the widening of differences in interest rates
Hanwha Solutions announced on March 14 that it will appoint Danielle Merfeld as chief technology officer and vice president of GE Renewable Energy, as its global chief technology officer for Q CELLS.CTO Murfeld majored in electrical engineering at the University of Notre Dame and received a Ph.D. in
As methanol-powered ships are rapidly emerging as next-generation eco-friendly ships, competition is heating up between Korean and Chinese shipbuilders about which is taking more shipbuilding orders. Until now, Korea has been leading the high value-added eco-friendly ship market, but Chinese shipbui
South Korean automakers and auto parts manufacturers are increasing their facilities in the United States and reducing those in South Korea at the same time. The domestic automotive industry, which is already decreasing in size by going electric, is likely to shrink at an increasing pace.DIC, a Hyun
An amendment to the Enforcement Decree of the Restriction of Special Taxation Act was passed on Feb. 21 so that companies investing in key industries can get tax credits before investment proof. The official announcement of the new decree is scheduled for late this month and its first effective date
Korean companies are working hard to help Turkey and Syria, which were hit hard by massive earthquakes. They are continuing to donate money and deliver relief goods for earthquake recovery and rescue work in Turkey.On Feb. 10, Samsung Electronics decided to provide a total of US$3 million in cash an
HD Hyundai announced on Feb. 8 that it will donate 10 medium-sized excavators for earthquake damage recovery work in Turkey.“We hope that this support will be of some help in speedy restoration of the damage,” an HD Hyundai official said. “HD Hyundai hopes that residents in the earthquake-stricken a
Samsung Display announced on Jan. 24 that it has succeeded in developing the world’s first large-area touch-integrated OLED display. The company has expanded the application of touch-integrated display technology from smartphone OLED panels to medium-sized notebook OLED panels. Samsung Display start