SKC, the chemical unit of SK Group, has joined hands with Indonesia’s leading petrochemical producer, Chandra Asri, to expand its burgeoning eco-friendly materials business in Southeast Asia, according to an industry source familiar with the matter on Thursday. According to the source, Ecovance, a subsidiary of SKC, inked a memorandum of understanding with the Indonesian firm on their business partnership last month. Under the agreement, the two companies plan to develop products using Eco

The competition in the chip industry is an “all-out war,” President Yoon Suk Yeol said Thursday, vowing to back local chipmakers with interagency support amid the intensifying tech competition between the US and China. “The government and the private sector should come together to ride out challenges ahead. … The government will closely work with allies like the US to resolve issues involving the industry,” Yoon said at a meeting attended by senior officials, lawma

South Korea has acceded to the Digital Economy Partnership Agreement in an effort to expand its digital trade network, becoming the first partner outside of its founding members of Chile, New Zealand and Singapore, Seoul's industry ministry said Friday. As the world's first plurilateral digital pact, the DEPA calls for the establishment of key rules on digital trade issues, such as digital identities, cross-border data flows and artificial intelligence. It came into effect in January 2