Samsung, Kia and other major Korean companies spent a record amount of money on lobbying the U.S. government in 2023 as they prepared for uncertainties in their trade environments.Last year, Samsung Group (Samsung Semiconductor, Samsung Electronics America and Samsung SDI America) spent US$6.3 milli
The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that Trade Minister Cheong In-kyo held the 8th Multilateral Trade Strategy Meeting with the MOTIE and related ministries on Jan. 29.In preparation for the 13th Ministerial Conference (MC-13) of the World Trade Organization (WTO) to
Four labor unions representing Samsung affiliates, including Samsung Electronics, Samsung Display, Samsung Fire & Marine Insurance, and Samsung Biologics, will merge to form a consolidated labor union. The launch of this mega labor union is scheduled for the end of this month. The establishment of t
Doosan Enerbility is advancing its efforts to supply carbon-neutral power generation technologies, including Carbon Capture, Utilization, and Storage (CCUS) and ammonia co-firing, renewables, and hydrogen to Thailand. On Jan. 29, the company announced the signing of a memorandum of understanding (MO
The world’s most efficient quantum dot (QD) solar cell has been developed by the Ulsan National Institute of Science and Technology (UNIST). A quantum dot solution and a device used in the development of the solar cell can maintain high performance even after long-term storage, taking a step closer
Experts are anticipating that the economic growth rate for South Korea will reach 2.2 percent this year. This aligns with the forecasts presented by the government and the International Monetary Fund (IMF), both indicating a 2.2 percent growth. It slightly surpasses the Bank of Korea’s projection of
Bone regeneration is a complex process, and traditional methods such as bone grafting and growth factor delivery have been limited by high costs. In this context, a piezoelectric material designed to promote bone tissue growth has been developed.KAIST announced on Jan. 25 that a research team led by
The Ministry of Trade, Industry and Energy (MOTIE) announced that the amendment to the “Act on Trade Adjustment Assistance” passed through the National Assembly plenary session on Jan. 25.As part of the measures to strengthen the manufacturing sector in response to the implementation of Free Trade A
Seegene announced on Jan. 24 its collaboration with Microsoft to promote a technology-sharing project aimed at realizing the vision of a “World Without Disease” during a meeting in London, the U.K.Through this collaboration with Microsoft, Seegene plans to share its unique Syndromic Quantitative PCR
Hanon Systems, a global automotive thermal energy management solution company based in Korea, announced on Jan. 24 that its cumulative production of R744 electric compressors utilizing eco-friendly refrigerants has exceeded 500,000 units.The company produces eCompressors utilizing R744 at its Palmel
HMM held a naming ceremony for the HMM Garnet, a 13,000 TEU container ship, on Jan. 24.The HMM Garnet, built to enhance HMM’s eco-friendly competitiveness and diversify its fleet, is the first delivered vessel of the 12 13,000 TEU container ships in contracts signed with HD Hyundai Heavy Industries
Hyundai Mobis announced on Jan. 24 that it has developed human-centric interior lighting technology specialized for future mobility environments.The new technology realizes a system where interior lighting interacts with users by recognizing their biorhythms and preferred usage environment and showi
The Korea Institute of Energy Research (KIER) will join forces with leading European industries, academia, and research centers in an international collaboration to develop carbon-neutral technologies.KIER has been officially selected by the European Union’s Horizon Europe Program as part of a conso
The first round of official negotiations to improve the Korea-U.K. Free Trade Agreement (FTA) are being held in Seoul.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Jan. 23 that more than 50 delegates from both countries are participating in the negotiations, led by Ahn Chang
NEOPIN, a decentralized crypto banking service, announced today that it has signed a strategic business agreement (MOU) with Catalyze Research (Catalyze), a web3 and blockchain consulting firm, and Futureverse, a metaverse, artificial intelligence (AI), and infrastructure development company, to exp
LIG Nex1 is set to participate in the “UMEX 2024” exhibition, focused on robotics and unmanned technologies, beingheld in Abu Dhabi, the United Arab Emirates, from Jan. 23 for a duration of three days.The company will showcase locally optimized robot and unmanned systems at the UMEX 2024 exhibition,
The author, Sam seog Ko, is a distinguished professor at the College of AI Convergence at Dongguk University and former commissioner of the Korea Communications Commission -- Ed.The global streaming service Netflix is rapidly changing the media market. Especially during the corona pandemic, media ex
On Jan. 22, Hanwha Vision announced the launch of the X-Series network video recorders (NVRs) that satisfies the U.S. National Defense Authorization Act (NDAA) and offers outstanding performance including the highest level of security and safety.The X-Series NVRs are three models: a 64-channel model
Financial Services Commission (FSC) Vice Chairman Kim So-young recently stated, “If more foreign financial companies expand their presence in South Korea, pioneer new markets and introduce new products, promoting innovation and competition, it will greatly contribute to the development of the South
Samsung Biologics announced on Jan. 22 that it has been awarded the Platinum medal, the highest rating given only to the top 1% of companies, in Environmental, Social, and Governance (ESG) evaluation by EcoVadis, a global sustainability assessment firm.Established in France in 2007, EcoVadis evaluat