GOHEUNG, South Jeolla Province -- South Korea’s homegrown Nuri rocket, also known as the Korea Space Launch Vehicle-II, was waiting for the arrival of the satellites that it will carry into orbit later this month at the Naro Space Center in Goheung, South Jeolla Province, on Wednesday. Successfully placing the satellites into the targeted orbit will be key for upcoming launch as the Nuri rocket readies for its third flight. “The first and second launches were about developing capabil

Technology May 7, 2023

HD Korea Shipbuilding & Offshore Engineering, an intermediate holding company of South Korean heavy industries conglomerate HD Hyundai, has bagged 12 orders for liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carriers worth 2.79 trillion won ($2.08 billion) in a span of less than a week. According to the shipbuilder, HD KSOE on Tuesday signed a contract with an Oceanian customer to build two 200,000-cubic-meter LNG carriers. The shipbuilder inked a contract with a European cust

Industry May 2, 2023

SK E&S, a green energy company under South Korean conglomerate SK Group, and Plug Power, a US developer of hydrogen fuel cell systems, will invest 1 trillion won ($747 million) in strengthening Korea’s hydrogen industry, SK E&S said Tuesday. According to the announcement, the investment will be made through the two companies’ joint venture, SK Plug Hyverse, established last year. SK E&S and Plug Power will invest 510 billion won and 490 billion won, respectively, to build

Technology May 2, 2023

The South Korean government plans to unveil its industry strategy for advanced robots before the end of the first half of the year as the country looks to foster its robotics sector and competitiveness on the global stage, according to Trade Minister Lee Chang-yang. “The Korean government will provide support for strengthening the competitiveness of cutting-edge robot companies, creating a new market and establishing global footholds,” said Lee during his visit to Boston Dynamics --

Industry April 30, 2023

“As a human who has looked at the Earth from space with the naked eye, I’ve come to a position where it is very difficult for me to ignore the problems on Earth. And that is something that all astronauts have in common,” said Yi So-yeon, Korea’s one and only astronaut, in an interview with The Korea Herald on April 25. Yi became the first Korean to travel to space when Soyuz TMA-12, a Russian space mission to the International Space Station, was launched on April 8, 2008.

Technology April 30, 2023

The final puzzle piece for Hanwha Group's ambitions in becoming a global defense company has fallen into place. With antitrust regulators approving the acquisition of Daewoo Shipbuilding and Marine Engineering, the group's business operations now span all three areas of air, land and sea. Hanwha, whose core businesses are its aerospace and defense systems, previously tried to acquire DSME in 2008 with Hanwha Group Chairman Kim Seung-yeon leading the takeover. But the global financial c

Industry April 27, 2023

South Korea and the United States have elevated space cooperation, seeking a stronger space alliance as the two countries agreed to join hands for space exploration and space science. “I hope that growing bilateral collaboration in space will also enable the two allies to play a leading role in ensuring that the benefits of space exploration are shared by all people around the world and take the helm in establishing fair and rational principles for the use of outer space,” said Presi

Foreign Affairs April 26, 2023

SK On will invest 470 billion won ($352 million) in expanding its domestic research and development capabilities through 2025, the South Korean battery maker said Monday. According to SK On, the company will upgrade its existing R&D foothold in Daejeon, also known as the Institute of Battery Technology, and newly establish a pilot plant for developing next-generation batteries and a global validation center at the same site. Parts of the investment plan have already begun, as the battery mak

Industry April 24, 2023

Hankook Tire & Technology said Monday that the South Korean tire maker inked a supply contract with Chinese all-electric vehicle manufacturer Leapmotor, expanding the company’s presence in one of the world’s biggest EV markets. According to the Korean company’s announcement, Leapmotor’s sports utility vehicle C11 will be equipped with Hankook Tire’s Ventus S1 evo3 ev, a high-performance tire specifically designed for EVs. The EV-tailored tire offers optimized fu

Mobility April 24, 2023

Ferry Porsche gave birth to the Porsche 356 ‘No. 1’ Roadster with his team in 1948, breathing life into his dream of the ideal sports car and marking the beginning of one of the most recognized auto brands in the world. The founder of Porsche said, “In the beginning, I looked around and could not find quite the car I dreamed of, so I decided to build it myself." Commemorating the 75th anniversary of the legendary brand’s establishment this year, Porsche has been cond

Mobility April 21, 2023

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 competition for technological supremacy. It is the power of EVs in times of carbon neutrali

Industry April 20, 2023

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 opinion to impose corrective measures to ban discrimination against competitors under th

Industry April 19, 2023

Space is not just about new opportunities for future industry, but changing perspectives and presenting challenges and dreams for generations to come, says Paul Yun, a Korean American solar system ambassador for NASA. “What would be wise for Korea is to utilize space to its fullest to bring out every positive factor from it. If space can become a bigger area, not all smart children will be trying to go to medical school. If more children chase space-related dreams, Korea’s space ecos

Technology April 17, 2023

LG Chem, South Korea’s chemical giant, and Huayou Cobalt, China’s leading cobalt refiner, will invest 1.2 trillion won ($918 million) to build a battery material plant in Gunsan, North Jeolla Province, according to reports Sunday. Citing anonymous industry sources, the reports said the two companies will officially sign the partnership Wednesday to jointly establish a production site for precursors. Precursors are core materials of cathode materials, one of the four critical battery

Industry April 16, 2023

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-largest conglomerate, has obtained approval from other necessary antitrust authorities o

Industry April 16, 2023