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Trump’s imminent drug tariffs spark alarm in Korean pharma
US President Donald Trump announced Tuesday that his administration will soon impose tariffs on imported pharmaceuticals, which had previously been exempt from major "reciprocal" tariff measures, raising alarm across Korea’s pharmaceuticals and biotech industries. According to multiple foreign news outlets, Trump made the statement during a dinner hosted by the National Republican Congressional Committee in Washington. There, he suggested that pharmaceuticals companies would likely "relocate ope
April 12, 2025 -
Ikea Korea launches first Seoul store, bolsters 'omnichannel' presence
Ikea Korea announced that it would open its first store in Seoul, Ikea Gangdong, on Thursday, while unveiling plans to ramp up investment to better meet the needs of Korean consumers. “Koreans have a strong interest in home furnishing products, and the country is one of the most active markets for online purchases of our products,” said Isabel Puig, CEO and chief sustainability officer of Ikea Korea, at a preopening press event Friday. “Next year, we plan to invest 30 billion won in automation s
April 11, 2025 -
US shows willingness to handle tariff talks smoothly with S. Korea: trade minister
The US has expressed a willingness to handle the tariff negotiations with South Korea and Japan as smoothly as possible, Seoul's Trade Minister Cheong In-kyo said Friday, describing the US' openness as a key outcome of his visit to Washington. "We held various discussions aimed at ensuring smooth trade relations with the Trump administration," Cheong told reporters at Incheon International Airport upon returning from his two-day visit to Washington. Cheong's trip marked the first of its kind by
April 11, 2025 -
Trump hints at outsourcing vessels from Korean shipbuilders
US President Donald Trump has once again indicated the intention to work with allies to build ships while rebuilding America’s shipbuilding sector, but this time, he hinted at the possibility of buying ships from other countries, raising the potential for collaboration with Korean shipbuilders. “We are going to be rebuilding our shipbuilding business,” said Trump during a White House Cabinet meeting in Washington on Thursday. “We may order ... (we) would have to go to Congress for this, but we m
April 11, 2025 -
‘The most humane is the most advanced’: Innovate Korea 2025 reimagines AI through a human lens
From Celltrion Chair Seo Jung-jin to K-pop star G-Dragon, "Squid Game" star Lee Jung-jae and Go legend Lee Se-dol — Innovate Korea 2025 brought together leaders from across industries, connecting them over a single theme: humanity in the age of artificial intelligence. The event unfolded into a festival of technology and the arts — a stage where innovation itself became a celebration of humanity and connection. “Ironically, the key to surviving in this world lies with humans. We need to come tog
April 11, 2025 -
LS Electric wins W36b energy storage deal in Japan
LS Electric, a Korean producer of power solutions, announced Friday that it has secured a 36 billion won ($20.7 million) energy storage project in Japan, reinforcing its position in the country’s clean energy market. As part of the project, LS Electric will build a 90-megawatt-hour energy storage facility in Miyagi prefecture in northeastern Japan. The company is part of a consortium that includes local construction firms. Scheduled for completion in April 2027, the facility will store electrici
April 11, 2025 -
LS Eco Energy joins $150m wind farm project in Philippines
LS Eco Energy, a Vietnam-based cable manufacturer under Korea’s LS Cable & System, announced Friday that it will supply electric cables for a $150 million wind farm project in the Philippines. The company’s Vietnamese subsidiary, LS-VINA, will supply medium- and low-voltage cables for the Kalayaan 2 wind farm, a 100-megawatt project located in Laguna province, about 100 kilometers southeast of Manila. Scheduled for completion in 2026, the wind farm is expected to provide clean energy to up to 85
April 11, 2025 -
SK chief visits Taiwan to bolster ties with TSMC ahead of HBM4 launch
SK Group Chair Chey Tae-won visited Taiwan this week to strengthen partnerships with TSMC and other key players in the semiconductor and IT industries, accompanied by SK hynix CEO Kwak Noh-jung. According to industry sources on Friday, Chey departed for Taiwan on Wednesday and held a closed-door meeting with executives of Taiwan Semiconductor Manufacturing Co. His visit comes ahead of SK hynix’s planned mass production of its next-generation AI memory chip, HBM4, which incorporates TSMC’s base d
April 11, 2025 -
IGNITE Thailand-Korea Business Forum
Herald Media Group, the Royal Thai Embassy in Korea, and the Industrial Estate Authority of Thailand will co-host the IGNITE Thailand-Korea Business Forum at Lotte Hotel Seoul on April 22 and 23. Aimed at deepening bilateral economic cooperation between Korea and Thailand, the event marks the 67th anniversary of diplomatic relations between the two nations and will feature a large delegation of high-ranking Thai government officials and top corporate executives. Over the course of two days, arou
April 11, 2025 -
LS Cable & System secures W200b high-voltage grid deal in Singapore
Korean grid facility manufacturer LS Cable & System announced Thursday that it has signed a 200 billion won ($137 million won) contract to supply ultrahigh-voltage electric cables for a power grid project in Singapore. Under the agreement, LS Cable & System will be responsible for the manufacturing, construction and installation of 230-kilovolt underground grid cables. The project is led by Singapore Power Group, the state-run power distributor in Singapore. The cables will form part of a grid t
April 10, 2025 -
MBK faces headwinds amid regulatory probes
Future course of fundraising overshadowed by series of probes into Homeplus investment MBK Partners could face challenges in fundraising while embroiled in controversies surrounding South Korea’s No. 2 hypermarket chain, as public funds turn wary due to compliance risks, according to industry sources. Following Homeplus’ application for a court-led rehabilitation, MBK has been pressured by multiple governmental bodies. MBK wholly owns the discount supermarket franchise as a portfolio company. In
April 10, 2025 -
LG unveils hall of fame to honor customer-driven innovation
LG Group has inaugurated a hall of fame honoring life-changing innovations the conglomerate has achieved -- a symbolic gesture encapsulating Chair Koo Kwang-mo’s management philosophy of prioritizing customer value. The new installation was unveiled at the LG Academy in Icheon, Gyeonggi Province, during the 2025 LG Awards on Wednesday. It serves not only as a tribute to past recipients of the prestigious award, but also as a cultural beacon to inspire innovation and a customer-centric focus acro
April 10, 2025 -
Smart roads to the rescue: New AI-based system aims to prevent roadkill
The South Korean government is pioneering efforts to reduce roadkill with the deployment of advanced artificial intelligence technology. On Wednesday, the Ministry of Environment launched a pilot program for its Animal Road Accident (Roadkill) Prevention System, designed to detect wildlife on roadways using image recognition AI. The system is currently being tested on two provincial roads: one in Yangpyeong, Gyeonggi Province, and the other in Pyeongchang, Gangwon Province. This innovative syste
April 10, 2025 -
Taihan Cable wins W52b cable supply project in South Africa
Korean manufacturer of electric wires and cables Taihan Cable & Solution said Thursday that its South African subsidiary has secured a 52 billion won ($35.6 million) power grid project, strengthening the company’s foothold in the region amid rising demand for grid expansion. Under the contract, Taihan’s local branch M-Tec will supply medium- and low-voltage cables as well as overhead conductors to Eskom, South Africa’s state-run power utility. South Africa, which has long been plagued by frequen
April 10, 2025 -
Samsung AI robot Ballie to feature Google's Gemini
Samsung Electronics announced Thursday that its home AI companion robot Ballie will integrate Gemini, Google Cloud’s generative AI technology, to enable more natural and conversational interactions to work through everyday tasks effectively. Announcing the expanded partnership at this year's Google Cloud Next 2025, Samsung said it plans to launch Ballie this summer. The collaboration follows the successful integration of Gemini on Google Cloud into Samsung's Galaxy S24 smartphone series last yea
April 10, 2025