The three major Korean shipbuilders are struggling to attain their new order receipt targets for this year.Hyundai Heavy Industries (HHI) has received US$5.6 billion worth of new orders so far this year, about 38 percent of its target for 2018, which is set at US$14.8 billion. The figure includes th
The “K-Startup Grand Challenge,” a rigorous foreign startup accelerator program offered by the Korean government, ended a two-month long registration process and is starting overseas auditions and demo days. The final winners will be announced in December.The Ministry of SMEs and Startups and the Na
Samsung Electronics was recently sued for a violation of a patent right by a non-practicing entity (NPE) following a recent court ruling that it pay US$400 million in damages for patent infringement to the Korea Advanced Institute of Science and Technology (KAIST). In particular, as the Galaxy S9 an
SK Telecom is turning into an artificial intelligence (AI) company. The company unveiled on June 21 an artificial intelligence (AI) accelerator, which handles AI deep learning more efficiently.The company's AI acceleration solution, dubbed AI Inference Accelerator (AIX), combines hardware loaded
Genesis, Kia Motors and Hyundai Motor have topped the 2018 J.D. Power Initial Quality Study (IQS), proving that Hyundai Motor Group, which controls the three brands, has reached the world’s highest level in terms of vehicle quality.Genesis scored 68 points to come in first in both the category of th
The QLED TV group led by Samsung Electronics and the OLED TV group represented by LG Electronics, Sony, and Panasonic will have a duel to find out which group offers the highest image quality.According to the TV industry on June 21, an interesting TV evaluation test will be held on July 15 at Harefi
The Minimum Wage Commission of the Ministry of Employment and Labor held a plenary session on June 19 to start discussion on minimum wage for next year. The local labor community, which has filed a complaint with the Constitutional Court over the recently amended Minimum Wage Act, did not participat
South Korea and China have agreed to create a new industrial cluster in the Korea-China Industrial Cooperation Complex located in Saemangeum, an estuarine tidal flat on Korea’s southwestern coast.The agreement was reached at a meeting between the Ministry of Trade, Industry & Energy of South Korea a
A major economic organization has warned that the declining competitiveness of Korea's manufacturing industry could lead to job cuts in other industries.The Federation of Korean Industries (FKI) held a seminar at the FKI Hall in Yeouido, Seoul on June 7 to discuss the ongoing crises of Korea'
“It is inappropriate for Cheong Wa Dae (the Presidential Office) to step forward to explain or defend every single issue”, Prime Minister Lee Nak-yeon pointed out June 7, in response to the controversy surrounding the effects of minimum wage. The comment interprets as a measure to tighten discipline
Korea South-East Power (KOEN) has launched an emissions reduction project in Myanmar under the Clean Development Mechanism (CDM).The project calls for distributing a total of 90,000 high-efficiency cooking stoves in Myanmar over the next five years.The main heat source for cooking in Myanmar is wood
Hyundai Rotem announced on June 4 that the company landed an order for 520 carriages of electric trains valued at 908.9 billion won from the Taiwan Railway Administration (TRA).This is the largest-ever train carriage order from the Taiwanese market. Hyundai Rotem's electric carriages will be dep
The Export-Import Bank of Korea is planning to place more importance on technical assessment in screening tenders for feasibility studies on projects to be financed by the Economic Development Cooperation Fund (EDCF).The bank said on May 31 that it would increase the importance of technical assessme
China once trailed Korea with a 10 percentage point market share difference in the TV market. Yet South Korea has recently widened the market share gap again to 25 percentage points on the strength of Korean TV makers’ advanced technology and premium strategy.According to market researcher IHS Marki
The South Korean government has set up a job stabilization fund to ease the impact of a sharp hike in the minimum wage on small and medium-sized companies. The government provides up to a 130,000 won per worker from this fund for small businesses employing fewer than 30 workers..Yet the job fund has
POSCO has joined a global scramble for lithium, a key material for electrical vehicle batteries. The Korean steelmaker is promoting its lithium business as a next-generation growth engine.POSCO is pushing hard to acquire a salt lake in Argentina which has large lithium deposits, a move that follows
Hyundai Mobis has been named the Supplier of the Year by GM, North America's largest car maker. This was the first time that the Korean vehicle parts company won the honor.GM selects the Supplier of the Year via a comprehensive evaluation of about 3,000 partner companies’ product quality, develo
Dongyang Natoyan, a Korean kitchenware producer, has released an eco-friendly, smokeless frying pan that burns fine dust, smell and smoke that are generated inside the pan while cooking.The air quality in the kitchen is getting worse as the fine dust level is increasing rapidly. Since the fine dust
A Raemian apartment in Seoul. When the mother enters the front door, the air shower system starts and shakes off fine dust.When she enters the living room all refreshed and clean and waves her right hand, the curtain is opened. When she says, “Please clean the house,” the robot vacuum cleaner at the
A Singaporean government-funded research institute will invest US$41 million in Sejong Tech Valley of the Sejong City Administrative Complex to establish a biopharmaceutical developing and manufacturing company.The National Agency for Administrative City Construction (NAACC) said on May 28 that it h