Korean companies are keeping a close eye on the aftermaths of the arrest of Meng Wanzhou, vice chairwoman of China's telecom giant Huawei.The world's No. 1 telecom equipment provider, Huawei has been seeking to expand its presence in Korea. Korean semiconductor companies are keeping a close

These days, an increasing number of South Korean auto parts manufacturers are working with Chinese automakers. Industry analysts point out this would improve the quality of Chinese cars, posing a threat to South Korean carmakers such as the Hyundai Motor Group.It is because of Hyundai’s slump that t

The Japanese government decided on Dec. 10 to exclude Chinese telecommunications companies Huawei and ZTE from public procurement.According to the Nihon Keizai Shimbun, the Japanese government has finalized a guideline that it will take security risks into account in procuring information-communicat

A second biotech startup boom is underway in Korea, according to a researcher of the Korea Research Institute of Bioscience and Biotechnology (KRIBB).Venture capital companies’ investments in biotech companies soared more than 85 percent this year from last year, and more than 300 biotech companies

Hyundai Motor and Kia Motors renewed their sales records for earth-friendly cars this year as sales of electric cars more than doubled.According to the Korean automobile industry on Dec. 9, Hyundai and Kia sold 257,661 green cars in the domestic and overseas markets in the January-November period of

Korea Development Bank (KDB) is struggling with restructuring of big ailing corporations put under its care.For example, KDB should determine within this month whether to invest US$375 million in GM Korea. Under a normalization plan, GM Korea is supposed to receive US$750 million in investment from

Hyundai Glovis has won international certification for healthcare logistics and is ready to muscle into the global healthcare logistics market, which is dominated by multinational logistics companies.Hyundai Glovis announced on Dec. 7 that it won ISO 13485 certification from the British Royal Standa

Hanwha Group chairman Kim Seung-youn, who is currently visiting Vietnam, has met with the chairman of Vietnam’s largest business group to discuss cooperation in manufacturing, finance and tourism.Kim met with Pham Nhat Vuong, chairman of the Vin Group, at the latter’s office in Hanoi, Vietnam on Dec

Hyundai Mipo Dockyard has entered the small and medium-sized LNG carrier market by winning an order to build a small LNG carrier from a Norwegian client.The company announced on Dec. 7 that it signed a contract with Knutsen OAS Shipping of Norway to build a 30,000 cubic meter LNG carrier worth US$77

P&G Korea has decided to withdraw from the sanitary napkin market in 30 years after entering the Korean market. The company’s management has judged that there is no merit to continue the business in Korea.According to the hygienic band industry on Dec. 6, P&G Korea halted Whisper Sanitary Napkin pro

LG Chem will supply 12V low voltage system (LVS) batteries to German automaker BMW. It is not a contract for supplying batteries for electric vehicles, but it is notable that the company has entered the exclusive BMW supply chain. LG Chem is now in a supply relationship with many of global automaker

The total output of the South Korean biotech industry topped 10 trillion won (US$9 billion) in 2017 for the first time ever, led by the growth of the biomedicine sector. The industry’s annual exports showed a year-on-year growth of 11.2%.According to the Ministry of Trade, Industry and Energy, the c

The SK Group is speeding up global business expansion. According to the business community on Dec. 5, the number of overseas affiliates owned by the SK Group grew by a whopping 26 in the past year from 295 in the third quarter of last year to 321 in the third quarter of this year.The group’s expansi

Korea Hydro & Nuclear Power (KHNP) President Chung Jae-hoon, who is currently staying in the United Arab Emirates (UAE), has clarified the ongoing controversy over the UAE's recent deal with a French firm regarding the management of its Barakah nuclear power plant.“The long-term service agreemen

Global leading companies are expanding investment in the Songdo Bio Cluster in Incheon to supply their products to South Korean biotech firms. They are flocking to Songdo as it is the manufacturing base of Samsung BioLogics Co. and Celltrion Inc., which have already grown into global biotech compani

POSCO C&C has completed a new factory capable of producing 400,000 tons of color steel sheets. The company can now supply one million tons of galvanized and color steel sheets a year as it has already secured a capacity to produce 600,000 tons of hot-dip galvanized steel sheets.POSCO C&C held a cere

LS Industrial Systems has acquired the energy grid tie (EGT) business unit of Parker Hannifin, the largest energy storage system (ESS) company in North America.The Korean company announced on Dec. 5 that it has signed a contract to take over all assets of the EGT business unit including production f

Shin Dong-bin, chairman of the Lotte Group, discussed investment expansion and cooperation with Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi on Dec. 4, the group said on Dec. 5.In the meeting, Shin explained the status of Lotte's operations in Vietnam and requested cooperation and support

K-water, a state-run corporation specializing in water resources development, has won a hydroelectric power project worth US$211 million in the Solomon Islands.The Korean corporation announced on Dec. 5 that it would sign a contract on the Tina River hydroelectric power generation project with the S

SsangYong Motor Co. has launched its first direct overseas sales company in Australia, announcing a new start to expand global sales, the company announced on Dec. 5.SsangYong Motor held a brand launching ceremony on Nov. 29 and 30 (local time) at the Crown Metropol Hotel in Melbourne, Australia, at