SsangYong Motor Co., part of India's Mahindra Group, announced on Dec. 2 that the company sold a total of 10,754 units in November 2019 -- 9,240 units in domestic sales and 1,514 in exports.SsangYong’s November sales increased 5.5 percent from the previous month, driven by domestic sales growth.

Hyundai Steel has difficulty raising the prices of its automotive steel sheets through negotiations with automakers. It needs to raise the prices of its products to improve the bottom line, but the main buyers are its two sister companies, Hyundai Motor and Kia Motors.It is still unclear whether the

Kolon Global announced on Dec. 2 that it has signed a strategic business agreement with drone startup Carta to jointly develop smart construction technology using a drone platform.Through this agreement, Kolon Global will provide Carta with infrastructure for technology development, including a test

The Korean biotech ecosystem appears to have reached maturity as a growing number of small and medium-sized companies hit the jackpot in addition to such large companies as SK Biopharm and Celltrion.South Korean Biotech venture companies posted about 5 trillion won in technology export in the second

South Korean automakers’ domestic sales and exports for last month fell 2.47 percent and 1.76 percent from a year earlier, respectively. Hyundai Motor Group is likely to fail to meet its annual sales target for the fifth consecutive year and GM Korea is likely to come in last among the five South Ko

The Institute for Basic Science announced on Dec. 2 that its Center for Integrated Nanostructure Physics, led by director Lee Young-hee, has developed a two-dimensional material as thin as an atomic layer and generating more electricity in proportion to light energy.The material is expected to impro

SK Innovation is planning to build an electric vehicle (EV) battery manufacturing plant in Yancheng, China by investing US$1.05 billion. It is likely to become SK Innovation’s second EV battery manufacturing plant in China behind its plant in Changzhou.SK Innovation’s plan has to do with Kia Motors’

Hyundai Motor has surpassed Toyota of Japan to become the world's number one seller of hydrogen-powered cars.Hyundai Motor began to mass-produce hydrogen-fueled electric cars for the first time in the world in 2013.The number of hydrogen-powered cars sold domestically until October this year was

As China, which consumes 40 billion packets of instant noodles or ramen a year, increases ramen imports from overseas, South Korea has been found to be the main beneficiary.According to a report released by the Korea Trade-Investment Promotion Agency (KOTRA) on Nov. 30, China’s ramen imports soared

The Ministry of Trade, Industry and Energy announced on Dec. 1 that South Korea’s exports totaled US$44.1 billion in November this year, down 14.3 percent from a year ago to show a year-on-year decline for the 12th consecutive month.“External uncertainties such as U.S.-China trade disputes and the g

An offshore plant order drought will continue into next year, affecting the three major Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries, industry analysis reports say.One major reason is that big projects are being canceled one

Global non-practicing entities (NPEs) are found to have used neglected Korean patents in launching attacks on Korean companies such as Samsung Electronics and LG Electronics.Patent experts say that Korean companies need to upgrade their patent management and utilization systems to survive global int

SK Chemicals announced on Nov. 27 that the U.S. Food and Drug Administration (FDA) has given the nod to its dementia treatment patch SID710 (element name: Rivastigmine). SID710 has become the first dementia treatment patch developed in Korea to receive FDA approval.SK Chemicals developed SID710 in 2

Hyundai Motor’s plant in India has emerged as the auto giant’s largest overseas production base.The company’s Indian plant rolled out 583,737 vehicles in the first 10 months of this year, down 2.97 percent from the same period of last year. But the figure was higher than the output of the company’s

SK Innovation is facing an unfavorable decision in its legal battle with LG Chem over electric vehicle (EV) batteries.The U.S. International Trade Commission (ITU) said on Nov. 27 that the Office of Unfair Import Investigations (OUII) handed in to the court a written opinion advising it to accept a

A global smart farm management company, uLikeKorea Co. announced on Nov. 28 that it has successfully developed the world’s first bio-capsule for sheep health management. With the newly developed bio-capsule, uLikeKorea plans to enter the global sheep market (1.2 billion sheep in the world) and will

BMW plans to spend more than 2 billion euros (about 2.5919 trillion won) on purchasing auto components from Korean companies next year, up 30 percent from this year.“We will significantly increase our purchase of auto components from Korean partners including Samsung SDI and SK Telecom,” said Pieter

Easy insurance registration is becoming a reality for e-commerce business owners.Global e-commerce platform Cafe24 and KB Insurance signed a MOU on Nov. 27 at the KB Insurance headquarters in Gangnam Seoul to support and vitalize insurance services specifically catered to e-commerce merchants.Under

Geely, China's No. 1 car brand, will make a foray into the Korean electric vehicle (EV) market. The automaker plans to target the Korean market with one-ton small and 2.5-ton medium-sized electric trucks loaded with Korean batteries.Geely New Energy Commercial Vehicle Group, a subsidiary of Geel

The United States Court of International Trade (USCIT) put the brakes on the U.S. Commerce Department’s tariffication on South Korean steel products, pointing out that the department’s Particular Market Situation (PMS) provision application to South Korean carbon steel pipes for ordinary piping lack