Hankook & Company, the holding company of Hankook & Company Group (formerly Hankook Tire Group), is strengthening its digital innovation capabilities through the acquisition of autonomous driving technology from driving data startup, 3Secondz.Founded in 2016 by CEO Kim Jae-woo from KAIST, startup 3S
The KF-21 Boramae, a Korean fighter jet, overcame the U.S. government’s refusal to transfer technology and started flying with an active electronically scanned array (AESA) radar of Korea’s own development. AESA radar is like the eye of fighter jets.According to Hanwha Systems on March 6, the KF-21
HMM announced on March 6 that it will provide free shipping services for Korean relief goods and residential container boxes to Türkiye, which has suffered from recent massive earthquakes.HMM, the only Korean shipping company providing regular European services, started transporting relief supplies
Korean battery makers which have been struggling in a battery price war with their Chinese competitors have begun to strike back. SK On succeeded in producing a prototype of lithium ferrophosphate (LFP) batteries in which China had previously taken the lead. The Korean battery maker even addressed t
Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, met with the prime ministers of Spain, Denmark, and Portugal in his role as a presidential envoy to ask for the three nations’ support for Busan’s bid to host the 2030 World Expo.The Korea Chamber of Commerce and Indu
U.S. Secretary of Transportation Pete Buttigieg toured the construction site of BlueOval SK’s Kentucky plant in Glendale, Kentucky of the United States on March 3 (local time) and had a meeting with employees at the site.The ceremony was attended by SK On and Ford officials including Lee Jong-han, C
Samsung Electronics will enter competition to develop more advanced chips for smartphones and PCs by starting again to develop cores for central processing units (CPUs). The Korean tech giant is planning to lower its reliance on ARM and face off with Apple by loading CPUs of its own design into smar
Statistics Korea announced on March 5 that the inventory ratio of the semiconductor sector amounted to 265.7 percent in January this year, the highest since March 1997.That month, the shipment index in that sector dropped 25.8 percent to 71.7 whereas the inventory index jumped 28 percent to 190.5.Th
Global automakers and battery companies are forging alliances and partnerships one after another. Following Ford’s decision to partner with LG Energy Solution instead of SK Energy in Turkey, General Motors (GM) has decided to build a joint venture plant with Samsung SDI instead of LG Energy Solution
Huawei announced it has joined the UNESCO Global Alliance for Literacy (GAL) as part of the company's lead up to the Mobile World Congress 2023. The announcement was made at a Digital Talent Summit co-hosted by Huawei and the Institute for Lifelong Learning (UIL) which serves as the Secretariat
Samsung SDI’s Hungarian battery plant will receive 89.6 million euros in support funds from the European Union (EU). The funds will be given for the Korean battery maker’s completion of a local battery plant which revved up the local economy and locally created decent jobs. Analysts say that Samsung
SK ecoplant recently announced that its subsidiary TES completed the construction of a 3,700-square-meter IT Asset Disposition (ITAD) plant in Las Vegas of Nevada in the United States and put the plant into operation. TES specializes in recycling electrical/electronic waste and waste batteries from
The U.S. government recently announced details as to subsidy qualifications related to the CHIPS and Science Act. According to it, subsidies will be given in exchange for manufacturing process opening and extra profit sharing.Both Samsung Electronics and SK Hynix are already being affected by the ac
The division of labor of the United States, Japan, South Korea, Taiwan and China in the global semiconductor industry that has lasted for 30 years is coming to an end as the United States is increasingly internalizing semiconductor supply chains.The U.S. Department of Commerce recently announced tha
OpenSecrets announced on March 2 that Samsung spent US$5.79 million on lobbying in the United States last year, up 56 percent from a year ago.According to the non-profit organization, the amount was US$3.91 million in 2018, somewhat decreased in 2019 to 2021, and then began to substantially increase
During the 2023 Mobile World Congress (MWC 2023), Huawei successfully held its 5th Industry Digital Transformation Summit, bringing together global industry customers, partners, and opinion leaders to discuss how digital technologies will affect our future - from the development of the world economy
The Ministry of Justice announced on March 1 that 1,595 visas for foreign shipbuilding workers were issued from January last year to January this year and those include 880 given to Vietnamese shipbuilding workers, followed by Thai (233), Uzbek (200), Indonesian (82) and Indian (56).The 1,595 worker
Hyundai Engineering announced on Feb. 28 that it had a discussion with the government of Alberta in Canada, on a small module reactor (SMR) construction project.Hong Hyun-seong, CEO of Hyundai Engineering discussed how to achieve Alberta’s “zero emission” goal with Brian Jean, minister of jobs, econ
As the US government announced conditions on payment of production subsidies under the CHIPS Act, Korean semiconductor companies have been brooding over how to respond to the conditions. This is because the United States put forward strict conditions difficult for private companies to accept such as
The business performances of Samsung Electronics and SK Hynix subsidiaries in China deteriorated significantly in 2022 due to U.S. sanctions against China and the impact of the COVID-19. To make matters worse, the U.S. government recently announced that it would set a technological limit to prevent