Nawah Energy, a joint venture between Korea Electric Power Corporation (KEPCO) and the Emirates Nuclear Energy Corporation (ENEC), announced that the Unit 4 reactor of the Barakah Nuclear Energy Plant in the UAE successfully reached its first criticality on March 1.Following the acquisition of the o
The Hyundai Research Institute (HRI) has forecasted that the South Korean economy will enter a recovery phase after passing its lowest point this year.According to a report titled “Now is an Important Time to Form an Early Economic Cycle Bottom” released by the HRI on March 3, there is a high possib
South Korea’s exports in February of this year increased by 4.8 percent compared to the previous year, continuing the trend of “export growth” for the fifth consecutive month. Particularly noteworthy is the semiconductor exports, which recorded the highest growth rate in six years and four months. A
For four consecutive years, South Korea has maintained its position as the top country among 34 advanced and emerging markets worldwide in terms of household debt relative to gross domestic product (GDP). As of the end of last year, the ratio stood at 100.1 percent, slightly lower than the previous
SK on, a battery subsidiary of SK Innovation, a leading global battery manufacturer, announced today it will showcase battery cells highlighting advanced fast-charging solutions along with various products demonstrating its latest R&D achievements at the upcoming battery exhibition in Seoul.The Adva
SK enmove announced on Feb. 28 that it has signed a memorandum of understanding for collaboration in the field of next-generation cooling solutions with SK telecom, South Korea’s leading telecommunications company, and Iceotope, a U.K.-based specialist in liquid cooling solutions. The signing ceremo
The trend of improved terms of trade in South Korea has continued for the eighth consecutive month. This is attributed to the slowdown in the decline of export prices, which has resulted in import prices decreasing more significantly than export prices.Exports of semiconductors, the largest export i
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,
Seed Group, a leading company under the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has taken a significant step towards revolutionising the travel industry in the Middle East and North Africa (MENA) region through its strategic partnership with Seoul-based hospitality tech startup ONDA.Wit
On Feb. 26 (local time), Korea Hydro & Nuclear Power (KHNP) signed a letter of intent (LOI) with Centrus Energy Corp., a U.S. nuclear fuel and services supplier, in Washington, D.C., to pursue stable nuclear fuel supply.The latest LOI builds upon the memorandum of understanding (MOU) signed in April
The Ministry of Science and ICT announced that it participated in the ministerial session held at the Mobile World Congress (MWC) 2024, the world’s largest mobile exhibition in Barcelona, Spain, on Feb. 27. During the event, it introduced the South Korean government’s policies regarding the safe uti
HYBE has become the first entertainment company in South Korea to surpass 2 trillion won in annual sales. The significant sales and streaming achievements of BTS and Seventeen have been identified as major contributors to this success.HYBE announced on Feb. 26 that its sales on a consolidated basis
The Korean government has set the goal of seeing Korean green companies achieve 100 trillion won in overseas exports by 2027. To this end, it plans to proactively discover demand for overseas environmental businesses. In particular, it aims to build a sustainable foundation for an overseas expansion
HD Korea Shipbuilding & Offshore Engineering (KSOE) recently signed a contract on the construction of four 174,000-cubic-meter liquefied natural gas (LNG) carriers with an Oceania-based shipping company.The LNG carriers are valued at US$270 million per vessel, which is US$5 million more than the pre
Daewoo Engineering & Construction (Daewoo E&C) announced on Feb. 26 that it had completed the installation of the ultra-low-temperature heat exchanger at the Nigeria Liquefied Natural Gas (NLNG) Train 7 Project on Feb. 9. The heat exchanger is the main core process that accounts for 70 to 80 percent
After assuming office, the newly appointed president of POSCO International, Lee Gye-in, has opted for the global expansion of the driving motor core division as his first move.POSCO International approved the construction of a new driving motor core plant in Poland and a second plant in Mexico duri
The author, Hyungcho Chung, is the founder and CEO of Scomot -- Ed.What is an Abacus?An abacus is an ancient tool used for calculating and counting that has been used for centuries. It is composed of a wooden frame with a series of rods arranged in rows, each containing a specific number of beads. T
A Korean-owned Ireland-based semiconductor company is reportedly among companies included in a list of those under U.S. sanctions against Russia.According to the Irish Times in Dublin, Ireland-based Cubit Semiconductor was included in the sanctions announced by the U.S. Department of the Treasury’s
Hyundai Engineering & Construction (Hyundai E&C) has been selected as the preferred negotiating partner for a major nuclear power plant project in Bulgaria, marking its return to the overseas market after 15 years.The company announced on Feb. 23 that it has solely passed the pre-qualification asses
Government officials from Korea, the United States, and Japan have met and agreed to strengthen trilateral cooperation to respond to the changing global environment, including supply chain instability and export controls.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Feb. 22