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DN Solutions, Korea’s biggest and the world's No. 3 machine tool maker by market share, has pledged to continue strengthening its US businesses as it gears up for what could be Korea’s biggest initial public offering in three years. “DN Solutions’ market share in the US jumped to the second place from the fourth place last year,” said DN Solutions CEO Kim Won-jong in a press conference at the Conrad Seoul on Friday. “We will turn the US tariff policies into opportunities. We want to become the s
South Korean Minister of Trade, Industry and Energy Ahn Duk-geun said eliminating the US' “reciprocal” tariffs against Korea and resolving auto-related issues were the top priorities of upcoming high-level talks in Washington. Ahn is set join Deputy Prime Minister and Finance Minister Choi Sang-mok for the first “2+2” trade consultation with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer at 8 a.m. Thursday in Washington (9 p.m. Thursday, Korea time). “Basically, o
Korean energy companies, namely Hanwha Qcells and OCI Holdings, are expected to benefit from the United States’ decision to impose tariffs of up to 3,500 percent on solar energy imports from Southeast Asia. Earlier this week, the US Department of Commerce released the final tariff amounts planned for solar cells from Cambodia, Malaysia, Thailand and Vietnam. The antidumping and countervailing duties seek to protect American solar panel manufacturing. The decision came after the American Alliance
LG Chem said Tuesday it was working to strengthen a company-wide culture focused on customer needs by sharing internal examples of customer-oriented practices. Since 2021, the company has been collecting case studies that highlight how its employees across various departments have worked with customers to address their business challenges. The cases are shared with employees on a monthly basis and are recognized through an annual award program, which includes a top prize of up to 30 million won
Korea’s leading shipbuilder HD Hyundai announced Tuesday that its largest shipyard, HD Hyundai Heavy Industries, has secured a conceptual design project from the South Korean Navy for an uncrewed surface combat vessel. Under the project, HD HHI will outline the vessel’s conceptual framework, including the required performance and technologies, as well as strategies for acquiring those capabilities. The design phase is scheduled for completion by December. According to the company, the future ves
A batch of Chinese submarine cables has arrived at Korea’s largest single offshore wind farm project under construction in the West Sea, according to sources familiar with the matter, raising concerns about a potential breach of Korea’s maritime security. According to the sources, the Chinese submarine cables manufactured by Hengtong Optic-Electric Co., China’s biggest cable company, were delivered to the island of Songido, where construction is due to start Tuesday on an onshore substation for
The port fee on China-made ships announced by US President Donald Trump's administration is expected to benefit Korean shipbuilders, particularly in the container carrier segment, where firms here have seen their global market share decline amid China’s growing dominance, market analysts say. NICE Credit Investment, a Korean credit rating agency, stated that the new fee could help Korean shipbuilders narrow the competitive gap in the container ship market, in a report released earlier in April.
LG CNS, the IT solutions arm of LG Group, said Monday it had held a forum to highlight how mathematical optimization can tackle complex business challenges, inviting clients from industries including manufacturing, telecommunications, shipbuilding, logistics and chemicals. The inaugural AX Optimization Forum was held Friday at the Conrad Seoul in Yeouido, showcasing innovation cases based on mathematical optimization and exploring related technical trends. The company said the forum was the firs
Samsung Biologics, the biotech arm of Samsung Group, celebrated its 14th anniversary on Monday and reaffirmed its commitment to global biopharmaceutical leadership, guided by a growth strategy built on three pillars: production capacity, portfolio diversification and global expansion. After posting a record 4.5 trillion won ($3.2 billion) in sales last year, the company is now aiming for 5 trillion won this year — just five years after it first crossed the 1 trillion won mark in 2020. “Over the
Earlier this month, China imposed new restrictions on exports of rare earth minerals, its latest salvo in the intensifying trade standoff with the US. The move, an apparent retaliation against Washington’s aggressive tariffs, has raised alarm in the US, which relies on China for around 70 percent of these vital minerals used in everything from semiconductors and electric vehicles to military equipment. The April 4 restrictions apply to seven rare earth elements -- samarium, gadolinium, terbium,
Trump Jr. to visit Korea next week at invitation of Shinsegae chairman
Hyundai Motor posts record Q1 sales, profit despite US tariff woes
Who owns AI art? AI-generated Ghibli selfies spark legal debate
Kakao Bank CEO pledges AI leadership at Thai fintech forum
LG Electronics receives top supplier award from Toyota
Korea, Thailand resume EPA talks to boost trade ties
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