China-based CATL, the world’s leading electric vehicle battery company, has unveiled a lithium iron phosphate (LFP) battery that can cover up to 400 km on a 10-minute charge. With the increasing adoption of LFP batteries in the global electric vehicle market, the news has caught the attention of Sou
Samsung Electronics’ sales in China for the first half of this year have declined by more than 12 trillion won compared to the same period last year. There are visible signs of Samsung’s movement away from China, with both the number of their operational facilities and employees in the country on th
Hankook Precision Works Co., Ltd., an affiliate of Hankook & Company, and 3D printing specialist company Tera Works co-launched a new 3D Printing Convergence Technology Center at the Hankook Engineering Lab in Yuseong-gu, Daejeon Metropolitan City, driving new momentum in new businesses using 3D pri
Korea’s trade balance in the information and communications technology (ICT) industry provisionally reached a surplus of US$3.19 billion in July after a slowdown in a drop in exports from April to June.The Ministry of Trade, Industry and Energy (MOTIE) said on Aug. 16 that ICT exports reached US$14.
The U.S. International Trade Commission (ITC) has conceded a defeat in the five-year-long washing machine war between the United States and Korea, but Korean companies are complaining that a more complicated situation is facing them. Samsung Electronics and LG Electronics have been able to increase
The Korean Ministry of Science and ICT will enter the global market for open radio access network (ORAN) services in earnest with the public-private partnership front and center.On Aug. 16, the ministry announced the direction of its ORAN policies and will hold a proclamation ceremony for the ORAN I
Silicon, a material for anode materials, is emerging as a “game changer” that will significantly increase driving ranges on a single charge or shorten charging time.According to the secondary battery material industry on Aug. 16, leading Korean companies such as SK, LG, and POSCO have begun preempti
Hyundai Motor has wrapped up the acquisition of a plant from General Motors (GM) in India, which has emerged as the world’s third-largest auto sales market. This will enable the Korean carmaker to build a production system with a minimum capacity of 1 million units in India.In addition, when the exp
Despite a sharp decline in operating profits, the top 50 companies in the stock market (KOSPI) have increased their workforce by more than 13,000 employees.According to the semi-annual reports released on Aug. 16, the combined operating profit of the top 50 companies in the KOSPI index, excluding fi
Samsung Electronics has secured Groq, a U.S.-based artificial intelligence (AI) semiconductor company, as the first customer for its foundry facility located in Taylor, Texas, the United States.On Aug. 15 (local time), Groq, an AI chip and accelerator specialized fabless semiconductor design company
SK on, a battery-focused subsidiary of SK innovation, is planning to invest 1.5 trillion won (US$1.12 billion) by 2025 to construct its third battery factory in Seosan, South Chungcheong Province, which is a key production hub in South Korea. This marks the company’s return to domestic investments a
Samsung Electronics has established a research and development (R&D) organization in Silicon Valley in the United States with the aim of enhancing its competitiveness in next-generation semiconductors. This decision is seen as a response to the growing uncertainties caused by economic downturns and
In the first half of this year, the combined research and development (R&D) investments of Korea’s leading battery manufacturers, LG Energy Solution, Samsung SDI, and SK innovation, surpassed 1 trillion won for the first time on a half-year basis.According to industry sources on Aug. 16, the R&D inv
Global air freight rates have declined for the fourth consecutive month by over 40%. This is perceived as a setback for Korean Air, which requires new market entrants for its merger with Asiana Airlines.On Aug. 16, according to freight analysis firm Xeneta, the global average monthly spot air freigh
Samsung SDI is set to construct a lithium iron phosphate (LFP) battery production line at its Ulsan factory, marking the first of its kind in South Korea.According to industry and government sources on Aug. 16, Samsung SDI is in discussions with the Ulsan city officials about building a next-generat
Despite Hyundai Motor’s global factory operation rate exceeding 100% during the first half of this year, a decrease was observed in some countries, including Vietnam, compared to the same period last year.According to Hyundai’s semi-annual report on Aug. 16, excluding the Chinese joint venture, the
La Boutique Bleue Cell Beauty (LBB) has inked an export agreement worth 800 billion won with multinational conglomerate Shinwha Group.The Shinwha Group, with which LBB has signed this deal, has overseas subsidiaries in major countries including China, Hong Kong, Vietnam, the U.S., and France. It ope
The FA-50 has made history in Korean aviation by successfully completing its inaugural flight in European skies amid cheers from the Polish public.Korea Aerospace Industries, Ltd. (KAI) announced on Aug. 16 that two FA-50GF jets, the first and second units supplied to the Polish Air Force, successfu
HUGEL is speeding up its venture into the European market, securing permissions for its hyaluronic acid (HA) fillers in countries like Denmark and Hungary. Having already launched HA fillers in Germany, the U.K., and Spain, Hugel aims to increase its market share by expanding into more countries.Acc
Kolmar BNH announced on Aug. 16 that its Eumseong plant, located in North Chungcheong Province, has received GMP certification from the Australian Therapeutic Goods Administration (TGA). Previously, Kolmar BNH’s Sejong plant was certified by TGA GMP in 2021. The TGA oversees pharmaceuticals and medi