South Korean builder Daewoo E&C said on Tuesday its design prowess has been recognized again with a prestigious design award, continuing its winning streak through its brands, including their flagship apartment brand Prugio. The company said two of its entries won Bronze Prizes at the Good Design Award 2022 -- an esteemed design award ceremony hosted by the Ministry of Trade, Industry and Energy...

Alabama, Georgia cited as possible locations for new W2.5tr battery plant; Separate deal with LG Energy Solution 'imminent'

Financial damages and disruptions in logistics services are anticipated to increase further among oil suppliers and businesses in the cement and construction industries if the nationwide walkout of truckers continues, industry sources said Tuesday. Some local gas stations have started to report supply shortages, and the cement industry has reported an accumulated loss of 64.2 billion won ($48.4 ...

The Korea International Trade Association is hosting a two-day trade fair from Tuesday to help local companies form international partnerships with global buyers. The 2022 Korea Grand Sourcing Fair, a hybrid event held both online and offline, is taking place at the Coex Convention and Exhibition Center in southern Seoul with 211 buyers from 36 nations and around 750 Korean companies participati...

US President Joe Biden will visit SK Siltron CSS in Michigan, the American branch of silicon wafer maker SK Siltron under South Korea's SK Group, on Tuesday, according to the White House and industry sources here. The surprise visit will mark the president’s first visit to a Korean semiconductor facility in the US. The US president was expected to arrive at the plant Tuesday afternoon, the late...

The Korea International Trade Association suggested introducing battery swapping as a solution that could boost South Korea’s electric vehicle transition, the association said in a report released Monday. Battery swapping is touted as an emerging solution for EVs, particularly in China. The technology allows drivers to switch a drained battery with a fully charged one in just a few minutes, inst...

South Korea is heavily reliant on China for its semiconductor exports, and it should diversify its overseas markets to mitigate associated risks of decline in trade with the neighboring country, a report said on Monday. According to statistics released from the Korea International Trade Association, South Korea’s semiconductor exports to China from January to September was $42 billion, rising 1....

South Korea’s second-largest steelmaker Hyundai Steel said Sunday that its submerged arc welding A671/A672 had been recognized as a World Class Korean Product. With the new addition, Hyundai Steel now boasts a total of 12 World Class Korean Products. The number is the largest among its peers in the steel-making industry, a feat that the company has maintained for 18 consecutive years. The World...

South Korean steel giant Posco said Sunday its production plants in Pohang and Gwangyang have received the ResponsibleSteel accreditation, becoming the first Asian company to win the honor. ResponsibleSteel, a nonprofit organization set up in 2016, awards steel businesses with accreditation for fulfilling some 370 criteria, including enviornmental, social and governance efforts. The review proce...

Line-backed food delivery platform becomes first Thai startup to get funding from Singapore's GIC

Plana, a South Korean startup dedicated to building vertical takeoff and landing aircraft powered by hybrid e-powertrains, said Friday that Dr. Kim Hyun-soon from Agency for Defense Development has joined the company as vice president. Kim, who is an R&D expert in developing unmanned aerial vehicle (UAV) systems, spent over 25 years developing aerospace and UAV systems at the state-run agency. ...

The nationwide strike by truck drivers caused supply disruptions across the cement and steel industries on Friday, with other sectors like auto and petrochemicals feared to bear the brunt if the protest prolongs. Cement factories were unable to ship most of the daily supply of 200,000 tons the previous day as bulk cement tanker drivers joined the strike, the cement industry association said Frid...

President Yoon Suk-yeol warned the government could use an executive order to force striking truckers to return to work. Yoon issued the warning in a Facebook post late Thursday night after thousands of members of the Cargo Truckers Solidarity Union, under the wing of the Korean Confederation of Trade Unions, launched a nationwide strike to demand the extension of a freight rate system guarantee...

As South Korea is seeing a widening trade deficit on sluggish global demand amid an economic slowdown, finding new markets for export has become ever more important. The Public Procurement Service, which procures, supplies and manages goods and services for public organizations, also supports Korean companies to tap into the overseas procurement market, the size of which amounted to $12.8 trilli...

SK Inc, the strategic investment arm of SK Group, said Thursday it invested in a food-tech startup specializing in cultured salmon, in a bid to diversify its investment portfolio in food business. The holding unit of the nation's third-largest conglomerate said it invested 10 billion won ($7 million) in Wildtype, a United States-based producer of cultured salmon. Cultured salmon is salmon that ...