The Korea Institute of Machinery and Materials (KIMM), an institution under the Ministry of Science and ICT, has developed an innovative process that uses renewable energy to produce ammonia at room temperature and normal pressure. This innovative technology is expected to dramatically contribute to
With the revised Act on Reporting and Use of Specific Financial Transaction Information scheduled to take effect on Sept. 25, foreign cryptocurrency exchanges are closing their services in South Korea one after another in order not to violate the law.Bitfront announced on Aug. 15 that its services i
The Korean Ministry of Food and Drug Safety said on Aug. 13 that it has conducted on-site inspections on the manufacturing facilities of instant noodle producers Nongshim and Paldo and is examining their products as it has received information that 2-chloroethanol has been found in their products ex
Hanwha Group is stepping up its efforts to secure future growth drivers through large-scale investments in the hydrogen, aerospace, and renewable energy fields.In the past two years, the group has made big investments in aerospace. Hanwha Aerospace and Hanwha Systems have gained experiences in the a
The Korea Institute of Machinery and Materials (KIMM) have successfully commercialized 2D LiDAR sensors that are mounted on equipment for transferring semiconductor wafers in partnership with SOSLAB, a professional LiDAR sensor provider.LiDAR sensors are devices that continuously emit millions of la
Hyundai Mobis surpassed 10 trillion won in sales in the second quarter of this year as sales related to electric vehicles reached an all-time high. This is the first time the company has exceeded 10 trillion won in sales in the second quarter.Hyundai Mobis posted 10.2851 trillion won in sales and 56
The U.S. dollar deposit balance in the five biggest banks in South Korea (KB, Shinhan, Hana, Woori and NH) was US$53.89 billion on Aug. 12, a decrease of US$6.366 billion from May 31.The balance increased from US$50.361 billion to US$60.255 billion from Jan. 31 to May 31. However, it decreased to US
The stock price of Samsung Electronics fell 3.38 percent to close at 74,400 won per share on Aug. 13. The price fell for the fourth consecutive day and fell 8.7 percent in that period.On Aug. 13, foreign investors’ net selling in Samsung Electronics amounted to 2,356.7 billion won and that in KOSPI
The stock price of Samsung Electronics fell 1.91 percent to 77,000 won per share and that of SK Hynix fell 4.74 percent to 100,500 won per share on Aug. 12. Both reached this year's lowest levels that day, when SK Hynix reached as low as 99,800 won per share and dipped below 100,000 won for the
The Bank of Korea announced on Aug. 12 that foreign investors showed a net investment outflow of US$3.06 billion in the South Korea stock market last month.The net outflow was US$8.23 billion in May and US$440 million in June and the net outflow for the three months is approximately 13.4 trillion wo
Samsung Electronics vice chairman Lee Jae-yong will be put on probation by the Ministry of Justice after his release on parole on Aug. 13.The Suwon Probation Committee, which oversees the Seoul Detention Center where Lee is imprisoned, has decided to apply probation to prospective parolees including
Binance is reducing its services for South Korean users as the South Korean government is trying to regulate it.Binance removed the KRW option from its currency setting in the evening of Aug. 10. Earlier, in the afternoon that day, the cryptocurrency exchange stopped providing its services in Korean
The stock prices of Samsung Electronics and SK Hynix dropped on Aug. 11 with DRAM chip prices falling. Specifically, the prices fell 2.12 percent and 6.22 percent to 78,500 won and 105,500 won per share, respectively. The former fell below 80,000 won in six trading days and the latter reached this y
SoftBank Chairman and CEO Masayoshi Son announced that he would temporarily stop investing in Chinese enterprises. South Korean individual investors investing in Chinese enterprises are paying close attention to the situation.He said on Aug. 10 that the pause would be until uncertainties related to
KT&G announced on Aug. 10 that its e-cigarette "Lil" has succeeded in entering 10 foreign countries. It has been a year since the company first exported the product to Russia in August 2020.KT&G signed a contract to supply e-cigarette Lil with Philip Morris International (PMI) for overseas sales and
As Samsung Electronics vice chairman Lee Jae-yong is to be released on parole on Aug. 13, Samsung SDI is expected to announce a large-scale investment plan soon.Domestic and foreign battery makers are laying out large-scale investment plans in line with the rapid growth of electric vehicle (EV) mark
The Economic Research Institute of the Bank of Korea said in its report on Aug. 10 that the Chinese government is extending its monetary easing policy in response to COVID-19 and its trade disputes with the United States and the policy is leading to an increase in South Korea’s exports, intermediate
The Korea Financial Investment Association announced on Aug. 10 that foreigners’ net government, monetary stabilization and bank bond purchases added up to 7.7 trillion won, 4.7 trillion won and 0.6 trillion won last month, respectively. Their bond holdings increased 6.4 trillion won to reach an all
SK Battery (tentative name), a new company to be created on Oct. 1 to handle SK Group's secondary battery business, is promoting a pre-IPO to raise trillions of won. The envisioned company plans to select investors the moment it is separated from SK Innovation, and complete transactions with the
The Korea Exchange announced on Aug. 10 that foreign investors accounted for 29.86 percent of the aggregate value of the South Korean stock market on Aug. 6, 29.9 percent on Aug. 9, and 29.61 percent on Aug. 10.According to the Korea Exchange, the ratio fell below 30 percent for the first time since