South Korea will invest 20 trillion won ($15 billion) in research and development of secondary batteries for electric vehicles through 2030 to secure global competitiveness, the government said Thursday. "Secondary batteries are among the country’s crucial strategic assets, along with semiconductors. Their importance cannot be stressed enough. Secondary batteries are at the center of the global ...

Hanwha Group’s acquisition of Daewoo Shipbuilding and Marine Engineering is nearing its end as South Korea’s Fair Trade Commission is expected to approve the takeover next week. The antitrust regulator on Tuesday sent Hanwha and DSME the examination report over the acquisition and decided to include the report on the agenda for the general meeting on April 26. The examination report includes an...

The professor pointed out that there are now some 1,000 NASA solar system ambassadors, whereas there were about 420 of them when he was first appointed a NASA ambassador in 2012. Born in Korea, Yun has lived in the US since 1986. Regarding the establishment of the KSAA, Yun underscored the importance of a government body that can coordinate different ministries and organizations involved in spac...

Hanwha Group’s acquisition of Daewoo Shipbuilding and Marine Engineering is facing a final obstacle, as South Korea’s Fair Trade Commission is yet to give the green light for the high-profile takeover. Since signing a megadeal worth 2 trillion won ($1.53 billion) to buy a 49.3 percent stake in DSME from the state-run Korea Development Bank in December last year, Hanwha, the nation’s seventh-larg...

South Korean game maker Netmarble and global metaverse gaming platform The Sandbox have signed a strategic partnership to enhance gaming content and provide various experiences to players, officials said Wednesday. According to the announcement, The Sandbox will set up a Netmarble intellectual property space within the K-Verse -- a specialized space dedicated to Korean culture and entertainment ...

The third launch of Nuri, the Korean homegrown space launch vehicle, has been set to take place on May 24, the Ministry of Science and ICT said Tuesday. According to the ministry, the Nuri rocket, also known as the Korean Satellite Launch Vehicle II, will blast off from the launch pad at 6:24 p.m. at the Naro Space Center in Goheung, South Jeolla Province. The preliminary launch period will be f...

LS Group Chairman Koo Ja-eun has completed a nine-day trip to Europe as the South Korean conglomerate looks to expand its presence in the electric vehicle ecosystem of the region. According to LS Group Monday, Koo visited the local production sites of LS Cable & System and Superior Essex in Germany, Poland and Serbia from April 2-9. Koo conducted on-site tours to check the manufacturing processe...

South Korea will invest 160 trillion won ($121 billion) to secure core technologies in the country’s three major sectors -- semiconductor, display and battery -- through 2027, the Ministry of Science and ICT said Thursday. “The semiconductor, display and next-generation battery sectors are the supporting technologies that have stably backed up our economy based on the super capabilities of the p...

LG Energy Solution has secured a supply chain of critical material for making electric vehicle batteries in Morocco in its efforts to bolster its readiness for toughened regulations in its key markets -- the US and Europe. According to the South Korean battery maker on Wednesday, the company signed a memorandum of understanding with Chinese lithium compounds producer Yahua to produce lithium hyd...

The US government has turned down Korea Hydro & Nuclear Power’s report on bidding for a nuclear power plant project in the Czech Republic, raising concerns that the Korean export plans of reactors may fall short due to ongoing litigation with Westinghouse Electric Co. The documents, which were submitted to the US District Court in Washington, showed Wednesday that KHNP submitted the relevant pap...

Masta Electric Vehicle on Tuesday signed a partnership with the Korean federation of small and medium business (SME) groups to support SME owners and expand its presence in the market. The two sides inked a memorandum of understanding at Masta Electric Vehicle’s exhibition booth at the Seoul Mobility Show held at Kintex in Gyeonggi Province. Representing some 20 SME groups and their 7 million m...

South Korea’s Fair Trade Commission is closely reviewing Hanwha Group’s acquisition of Daewoo Shipbuilding and Marine Engineering as it could lead to unfair trade practices if completed, officials said Monday. “The issue is that ships are used in battle. They are weapons. In terms of the weapons system, Hanwha has a high market share and possesses control over the market. There are other compani...