The Embassy of the United Arab Emirates (UAE) has set out to actively encourage Korean SMEs, non-profit organizations and high schools to apply for the Zayed Sustainability Prize.The Zayed Sustainability Award, launched in 2008, was inspired by the sustainability and humanitarian legacy of the late
Samsung Heavy Industries announced on June 22 that it has won orders for 12 174,000-cubic-meter LNG carriers from a client in Bermuda. The contract amount is 3.331 trillion won, the largest single shipbuilding contract in the history of the shipbuilding industry.In addition, Samsung Heavy Industries
Daewoo E&C is stepping up efforts to enter overseas nuclear power plant markets.The company is the only Korean builder that can provide a total solution for the entire process of a nuclear power plant project, from design and construction to decommissioning.Daewoo E&C is pursuing the Czech nuclear p
Financial institutions in Busan City and African and Latin American ambassadors in South Korea had a meeting on June 11.Busan City announced on June 12 that it hosted Busan Familiarization Tour on June 10 and 11 by inviting Latin American and African diplomats in South Korea.Specifically, the city a
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Renewable energy boasts mid/long-term growth potential amid a continued coal price uptrend.Fossil fuel prices rise on demand for power generationDue to Russia
Kolmar Korea announced on May 25 that a delegation from Europe’s Global Cosmetics Cluster.EU (GCC.EU) visited the company’s Advanced Institute of Technology on May 23. The delegation consisted of 36 members, including Masson Christophe, CEO of Cosmetic Valley in France, as well as CEOs of member com
Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding holding company of Hyundai Heavy Industries Group, announced on May 17 that it has signed a contract with an Asian shipping company to build four large liquefied natural gas (LNG) carriers. Samsung Heavy Industries (SHI) also announc
Korea’s automobile exports amounted to US$4.4 billion in April, up 6.1 percent from the same period of 2021. Export growth was led by eco-friendly vehicles amid a global push for carbon neutrality. However, production decreased due to a shortage of semiconductors and disruptions in parts supply trig
POSCO Group will invest 25 trillion won by 2030 to secure raw materials for secondary batteries, including lithium, nickel, cobalt, graphite, and cathode and anode materials. It plans to build an independent supply chain against Chinese companies that dominate the rechargeable battery mineral and co
The South Korean government announced on May 11 that the construction of Shin Hanul Nuclear Power Plant Units 3 and 4 would start in 2025 and an application would be made next year so that Kori Units 2 can be operated beyond its service life. In the same context, it is going to change laws and natio
Cooperation between Korean battery cell makers and U.S. producers of battery raw materials can bring about win-win effects, analysts say.According to the U.S. Geological Survey, the United States ranks fourth in lithium reserves after Bolivia, Argentina and Chile. Lithium mining is in full swing as
The authors are economists of Shinhan Investment Corp. They can be reached at heekim@shinhan.com. – Ed. Rising grain prices leading to agflation fearsRising prices of agricultural products are driving agflation concerns. Global farm production was hit hard by last winter's unfavorable weather co
Kolon Life Science has licensed out its osteoarthritis cell gene treatment TG-C, also known as Invossa, to a new biotech company in Singapore in a deal worth up to 720 billion won.The company announced on April 13 that it has signed a 723.4 billion won (US$587.18 million) technology export contract
KEPCO KPS, a company specializing in power transmission and transmission facility maintenance, has won an overhaul (OH) order for 16 thermal and nuclear power plants owned by Eskom, a South African electricity public utility.The order value is approximately 22.8 billion won and the project period is
Taihan Cable and Solution announced on March 10 that it will establish a joint venture in Saudi Arabia to produce ultra-high voltage cables.It is the first ultra-high voltage cable plant to be built overseas by Taihan Cable and Solution. The company has joined hands with Mohammed Al-Ojaimi Group, a
POSCO International will create a cotton cluster in Uzbekistan 120 times the size of Yeouido in Seoul.The company's president Joo Si-bo signed a business agreement on the cotton cluster with Governor Khayrullo Bozarov of Fergana Region at its Songdo headquarters in Incheon.Uzbekistan is one of t
South Korean President Moon Jae-in announced on Feb. 24 that South Korea would join international sanctions against Russia.“The sovereignty and independence of Ukraine are inviolable, and South Korea will act as a responsible member of the international community,” he said.The Ministry of Trade, Ind
Kolmar Korea, a leading Korean cosmetics original design manufacturer (ODM), is moving to enter the Middle East market.Kolmar Korea announced on Feb. 21 that it has signed a business agreement with the International Beauty Industry Trade Association (IBITA) to explore new business opportunities in t
Ace Technology, a wireless communication equipment company, announced on Feb. 13 that it has been selected as the No. 1 supplier of base station antennas for the world’s No. 2 telecommunication service provider.Ace Technology will supply half of the total volume offered in the 2022-2023 base station
Weapons exports from South Korea are increasing at a rapid pace. The annual exports, which stood at US$1.7 billion in 2018, US$1.6 billion in 2019, and US$3 billion in 2020, jumped to US$7 billion last year, already reached US$5 billion this year, and are expected to reach US$10 billion, the fifth-l