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AI, defense, mobility in focus as Korea’s business leaders gather in UAE
As South Korean President Lee Jae Myung began his state visit to the United Arab Emirates on Monday, industry attention turned to a high-level Korea-UAE business roundtable set for Wednesday in Abu Dhabi, where around 15 top Korean business leaders are expected to join. Co-hosted by the Korea Enterprises Federation and the Korea Trade-Investment Promotion Agency, the forum is designed to accelerate private-sector cooperation between the two countries across defense, energy, artificial intelligen
Nov. 18, 2025 -
Hyosung to expand Memphis site into largest transformer plant in US
Hyosung Heavy Industries said Tuesday that it will invest an extra $157 million in expanding its high-voltage transformer manufacturing plant in Memphis, Tennessee, to turn it into the largest transformer production facility in the United States. According to Hyosung, the expansion will increase the Memphis site’s production capacity by 50 percent through 2028. This is expected to solidify the Korean firm’s top leadership in the US market as the sole player capable of designing and manufacturing
Nov. 18, 2025 -
Daewoo E&C delivers 18,000 housing units, tops private-sector supply
Daewoo Engineering & Construction recorded the largest housing supply volume among South Korea’s private builders this year, delivering more than 18,000 residential units nationwide amid rising concerns over supply shortages, the company said Wednesday. Known for its flagship Prugio brand, launched in 2003, The company continues to update its portfolio through the biennial Prugio Edition initiative, which reflects evolving lifestyle trends by introducing new themes and products every two years.
Nov. 18, 2025 -
Posco CEO vows tech innovation, resource push amid global uncertainty
Posco Group CEO Chang In-wha reiterated that the group will prioritize technical innovation and securing resources as a key strategy to navigate an uncertain business climate at the group’s annual tech forum in Pohang, North Gyeongsang Province, on Tuesday, according to the company. “We will accelerate technology development by pushing large-scale projects that pursue an unassailable technological edge through 'One-Team' participation between field sites and research centers,” Chang said during
Nov. 18, 2025 -
Hyundai Motor launches 1st group-level cyberthreat team: sources
Hyundai Motor Group has created its first group-level cyberthreat response team amid a rise in cybersecurity risks across various industrial sectors, according to industry sources Tuesday. The cyberthreat response team, led by Yang Ki-chang, head of the group's Integrated Security Center, will oversee vulnerability assessments, threat monitoring and incident responses involving cybersecurity across all group affiliates, the sources said. Previously, Hyundai Motor Group units handled cyberattack
Nov. 18, 2025 -
SK hynix set to boost AI readiness with expanded Yongin investment: experts
SK hynix Inc.'s expanded investment plan for its new chip cluster will bolster its responsiveness to soaring global demand for memory chips amid the artificial intelligence boom, industry watchers said Tuesday. During a meeting held Sunday with President Lee Jae Myung and leaders of other major conglomerates, SK Group Chairman Chey Tae-won said SK hynix aims to increase investment in the Yongin semiconductor cluster, just south of Seoul, beyond the initially proposed 128 trillion won ($85.5 bill
Nov. 18, 2025 -
Samsung Electronics Chairman Lee departs for UAE for business talks
Samsung Electronics Chairman Lee Jae-yong departed for the United Arab Emirates (UAE) on Monday for a business roundtable aimed at strengthening cooperation between the two countries' business communities. Lee is expected to discuss collaboration in advanced technologies, including artificial intelligence (AI), with UAE officials. The roundtable will take place on the second day of President Lee Jae Myung's trip to the country, following visiting the mausoleum of the UAE's founding president, Za
Nov. 17, 2025 -
Samsung ramps up Taylor chip complex with 1,000 staff moves
Samsung Electronics is accelerating the development of its new semiconductor fabrication complex in Taylor, Texas, as the company begins relocating employees to a newly completed six-story office hub at the center of the site, industry sources said Monday. The Taylor Economic Development Corporation said in a LinkedIn post that Samsung Austin Semiconductor will move roughly 1,000 employees into the office building over the next two quarters. “The fabrication facility is expected to be operationa
Nov. 17, 2025 -
Hyundai Glovis ships Korean K2 tanks, K9 artillery to Poland
Hyundai Glovis announced Monday that it successfully transported 20 K2 tanks from Hyundai Rotem and 21 K9 self-propelled howitzers from Hanwha Aerospace to the port of Gdansk, Poland, on Thursday. The shipment strengthens the company’s push into the defense and breakbulk logistics business, following its earlier delivery of K9 howitzers to Estonia — a move that showcased its capabilities in handling sensitive military cargo. Industry sources note that defense equipment is closely tied to nationa
Nov. 17, 2025 -
Hanwha Life boosts global talent push
Hanwha Life said Monday that it is strengthening its long-term strategy to cultivate globally competitive finance and tech talent, expanding programs that connect young professionals with international networks, mentorship and real-world industry exposure. At the core of this push is Lifeplus, the company’s financial co-brand dedicated to developing next-generation leaders. Through its global talent platform, Hanwha Life has been investing in initiatives that help young Koreans gain insights fro
Nov. 17, 2025 -
LG Energy Solution bets on homegrown LFP with 2027 launch
LG Energy Solution has become the first Korean battery-maker to lock in a domestic production schedule for lithium iron phosphate batteries, reinforcing its position as the only non-Chinese producer of LFP cells amid accelerating worldwide demand for lower-cost, high-stability batteries. The company said Monday that its Ochang plant in Cheongju, North Chungcheong Province, will begin commercial production of LFP batteries for energy storage systems in 2027, starting with one gigawatt hour of ann
Nov. 17, 2025 -
HD Hyundai wins W10b electric forklift order in Venezuela
HD Hyundai XiteSolution said Monday it has secured a more than 10 billion won ($6.9 million) contract to supply electric forklifts to Empresas Polar, marking the Korean machinery maker's largest order since entering the Latin American market. The deal for 230 electric forklifts includes 178 units in the 2-ton class and 52 units in the 3-ton and 4.5-ton classes. Deliveries to Empresas Polar, Venezuela’s largest food producer, are set to be completed by January, the company said. HD Hyundai XiteSo
Nov. 17, 2025 -
Korean firms see China overtaking in all major export sectors by 2030
South Korean companies predict China will overtake the country in competitiveness across 10 major export industries, spanning semiconductors, electronics, automobiles, shipbuilding and batteries, in the next five years, an industry survey showed Monday. The Federation of Korean Industries surveyed 200 leading companies across the country’s top export sectors, assessing their competitiveness against China, the US and Japan. The industries covered in the survey were semiconductors, displays, elect
Nov. 17, 2025 -
SK to pour 128 tln won into domestic investment through 2028
South Korean conglomerate SK Group said Sunday it will invest 128 trillion won ($87.9 billion) through 2028 in the domestic market, with a focus on chip manufacturing to meet the growing demand in artificial intelligence fields. The chip-to-chemical enterprise will build four large-scale semiconductor fabrication plants over the years in its main Yongin chip cluster, south of Seoul, with the amount of investment likely to increase to up to 600 trillion won. The announcement came after SK Group C
Nov. 16, 2025 -
Samsung to invest W450tr in next 5 years for new facilities, R&D in Korea
Samsung Electronics said Sunday it will invest 450 trillion won ($309.2 billion) in the next five years to build new manufacturing plants in South Korea for its key affiliates. The announcement came after Samsung Electronics Chairman Lee Jae-yong met with South Korean President Lee Jae Myung along with chiefs of other conglomerates to discuss the recent tariff agreement with the US and their companies' domestic investment. Samsung said part of the 450 trillion won investment will be spent on fac
Nov. 16, 2025