The Export-Import Bank of Korea (Korea Eximbank) announced on March 7 that it has inked a memorandum of understanding (MOU) with the United States Department of Energy (DOE) for cooperation in the fields of supply chain and eco-friendly energy.Yoon Hee-sung, the president of the Korea Eximbank, sign
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced today that the company broke ground on a major expansion of its vaccine manufacturing plant, L HOUSE, located in Andong, Gyeongsangbuk-do, South. The groundbreaking c
Researchers in South Korea have developed the world’s first artificial intelligence (AI) semiconductor that operates at ultra-high speeds with minimal power consumption for processing large language models (LLMs), based on principles that mimic the structure and function of the human brain. The semi
Michael B. Kim, Haverford College alumnus, founder-chairman of one of Asia’s largest private equity firms, and best-selling novelist has been appointed chair of the Haverford College Board of Managers.Haverford College announced on March 6 (local time) that Kim will lead the board of trustees as cha
Crypto.com, trusted by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, has signed a memorandum of understanding (MoU) with Altava Group, a vertical AI fashion tech company delivering innovative virtual experiences and products for majo
The Korean government and three major Korean shipbuilders -- HD Korea Shipbuilding & Offshore Engineering (KSOE), Samsung Heavy Industries, and Hanwha Ocean -- will invest 9 trillion won to secure future super-wide gap technologies for the Korean shipbuilding industry.The Ministry of Trade, Industry
Lotte Chemical is reportedly considering the sale of its Malaysian subsidiary Lotte Chemical Titan (LC Titan).According to industry sources on Mar. 6, Lotte Chemical is searching for potential buyers for LC Titan, including Korean and foreign petrochemical companies and large private equity funds (P
Hyundai E&C, along with U.S.-based Holtec International, signed a business agreement for jointly participating in the U.K. Atomic Energy Authority (UKAEA)’s SMR technology competition with U.K.-based Balfour Beatty and Mott MacDonald at the Korean Embassy in London of the United Kingdom on March 5.T
The Korea Fair Trade Commission (KFTC) conducted an on-site investigation into AliExpress, the shopping platform of the Chinese Alibaba Group, which is suspected of violating consumer protection obligations.According to industry sources on March 6, the KFTC recently sent investigators to the Seoul o
KEB Hana Bank announced that its German subsidiary, “KEB Hana Bank Germany,” has obtained an international credit rating of “Aa3” from Moody’s, one of the world’s top three credit rating agencies.KEB Hana Bank (D) AG, a wholly-owned subsidiary of KEB Hana Bank, has been operating in Frankfurt, Germa
NPCore, a cybersecurity company specializing in network and endpoint security, recently conducted a cybersecurity workshop in Kuala Lumpur, Malaysia, in collaboration with its local partner, TechLab. The event, held on February 29th, was particularly timely, given the recent spate of cyber threats i
On the 27th, the Contech startup Meissa announced that it had visited Abu Dhabi, UAE, as a member of One Team Korea from the Ministry of Land, Infrastructure, and Transport.The Ministry of Land, Infrastructure, and Transport's bid support team, led by Minister Park Sang-woo, visited Abu Dhabi to mat
Samsung Electronics has refuted its labor union’s claim that many of its workers suffer from mental health problems such as sleep disorders and depression.In its online newsroom on March 4, Samsung Electronics claimed that the labor union’s claims regarding a report on a survey on the status of labo
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
It has been confirmed that recent complaints from domestic consumers using China’s Alibaba shopping platform AliExpress have sharply increased.According to the response data on “the status of consumer consultations related to AliExpress-related complaints and damage compensation” received by the off
The domestic defense industry has gained new momentum through the revision of the Export-Import Bank of Korea (Korea Eximbank) Act. It is expected to accelerate towards achieving the goal of US$20 billion in defense exports this year.On Feb. 29, a bill to amend the Korea Eximbank Act, which increase
Last year, South Korea’s gross national income (GNI) per capita reached US$33,000, marking a rebound for the first time in a year. The annual real gross domestic product (GDP) growth rate was recorded at 1.4 percent.According to the “2023 Preliminary 4th Quarter and Annual National Income” report re
Miky Lee, vice chairwoman of CJ Group, has been recognized as a visionary influencing Hollywood in the United States.According to CJ ENM on March 5, Vice Chairwoman Lee was featured in the special edition “2024 Hollywood Issue” of the prestigious American entertainment magazine Vanity Fair.Since 199
SeAH Holdings announced on March 5 that it was selected as one of the Most Ethical Companies in the World for 2024 by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This marks the first time a South Korean company has achieved this recognition. Sin
Hugel, Inc. announced on March 4 that it has obtained product approval from the U.S. Food and Drug Administration (FDA) for its botulinum toxin product Letybo in 50-unit and 100-unit dosages on Feb. 29, local time. This FDA approval marks Hugel as the first and only company in South Korea, and the t