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Reporter : Kim Hyun-bin
Fri, August 19, 2022 | 23:12
Lee Jae-yong attends groundbreaking ceremony for Giheung R&D complex
Samsung Electronics Vice Chairman Lee Jae-yong visited the company's Giheung campus for the groundbreaking ceremony for its next-generation semiconductor R&D complex, according to the company, Friday. This visit was Lee's first public appearance since being pardoned by President Yoon Suk-yeol on the Aug. 15 National Liberation Day.
New FTC chief vows to remove 'unnecessary' regulations to spur business activities
Han Ki-jeong, the nominee for the Fair Trade Commission (FTC) chairman, pledged to remove all “unnecessary” regulations and establish fair market rules once his nomination is confirmed as the head of the antitrust agency, he said Friday. "I think that unnecessary regulations should be boldly overhauled for a free market economy so that businesses can run freely," Han said on ...
SK Inc., SK Energy acquire US energy company Atom Power
SK Inc. and SK Energy announced they will acquire the management rights of Atom Power, an American energy solution company, for $150 million, the company said, Thursday. “Through the acquisition of Atom Power, we will secure the core technology of the energy solution business and use it as a stepping stone to implement an energy solution platform and discover various business...
Will Inflation Reduction Act impact Hyundai, Kia's EV sales in US?
The implementation of the Inflation Reduction Act (IRA), signed by U.S. President Joe Biden, Tuesday (local time), is expected to have a short-term impact on Hyundai Motor Group's U.S. electric vehicle (EV) sales in the coming years, according to industry officials and analysts, Thursday. The IRA provides tax credits and subsidies for EVs manufactured in the U.S., which could...
SK chief meets Bill Gates to share commitments for global health
SK Group Chairman Chey Tae-won met with Bill Gates, co-chair of the Bill & Melinda Gates Foundation, in Yeouido, Seoul, to discuss shared commitments to global health, Tuesday. SK Bioscience and the Bill & Melinda Gates Foundation have collaborated since 2013, with the foundation funding SK Bioscience's efforts to develop several products, including a typhoid vaccine, a non-r...
Asiana's soaring debt causes concerns for Korean Air
Asiana Airlines' financial structure continues to deteriorate as its debts have soared due largely to foreign exchange losses as a result of the won's falling value against the dollar, according to industry officials, Tuesday. In the first half of this year, Asiana's debt soared to 13.39 trillion won, up by 835 billion won ($638 million) from a year earlier. The continuous ri...
Bill Gates arrives in Korea
Microsoft founder Bill Gates, co-chairman of the Bill and Melinda Gates Foundation, arrives at Seoul Gimpo Business Aviation Center (SGBAC) in the Korean capital, Monday. Gates has been invited to speak at the National Assembly during his stay in Korea during Aug. 15-17, and is expected to meet with President Yoon Suk-yeol and key business leaders during his visit. Yonhap
Hyundai Motor Group becomes world's No. 3 automaker in sales volume
Hyundai Motor Group is now the world's third-largest automaker in terms of sales volume. Hyundai Motor Group said Monday that its global sales volume from January to June of this year stood at 3.3 million vehicles, coming in third behind Volkswagen Group, which sold 4 million vehicles, and Toyota, which ranked first with 5.1 million vehicles sold.
LCCs struggle despite increased int'l passenger demand
Local low-cost carriers (LCC) are deeply concerned despite a rise in international passenger demand, as the competition for Southeast Asian routes is intensifying due to difficulties entering the most popular destinations - Japan and China. Many experts believe it will be difficult for LCCs to improve their financial structure despite a surge in international flight demand.
Korea lacks data to operate autonomous vehicles
Amid intensifying competition to gain an edge in the self-driving vehicle market, concerns are rising that Korea might lose in the game as it lacks data to implement autonomous driving. Industry experts stress that a better environment should be established to accumulate autonomous driving data as in other leading countries such as China and the U.S. According to KMPG, a glob...
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