Stratasys, a 3-D printing company, said Thursday it would unveil its latest prototyping and additive manufacturing solution at tech exhibition Simtos in Kintex exhibition center in Goyang from Apr. 3 to 7. Prototypes are basic models designed with only key functions in order to verify and improve performance before new products are launched. Additive manufacturing is a 3-D printing application that stacks and combines layers of base materials to make 3-D products. At the Stratasys booth, visitor

Industry March 30, 2018

A former ambassador to Saudi Arabia, Kwon Pyung-oh, has been appointed as the new chief of the Korea Trade-Investment Promotion Agency, the organization said Thursday.KOTRA said his inaugural ceremony would be held Monday. He had served as an ambassador to Saudi Arabia since November 2015, after working as chief of the Trade Ministry’s trade promotion division from 2013 to 2015. Kwon has a bachelor’s degree in trade from Hankuk University of Foreign Studies. He joined the government force in 198

Industry March 29, 2018

The Korea Herald is publishing a series on South Korea’s business environment for foreign companies and investors. This is the second installment. -- Ed. A lack of trust between the government and companies is among the biggest problems for companies doing business in Korea, according to the chairman of the board of governors of the American Chamber of Commerce in Korea.“The government and companies in Korea don’t trust each other. The government thinks the company management is not transparent

Industry March 29, 2018

Korea and the US officially announced Wednesday that they have reached an agreement in principle to the revision of their bilateral trade deal, including an exemption of tariffs on Korean steel, ending three months of talks. The joint statement released by South Korean Trade Minister Kim Hyun-chong and US Trade Representative Robert Lighthizer read, “Today, Minister Kim and Ambassador Lighthizer are pleased to announce that Korea and the US have reached an agreement in principle on the general t

Industry March 28, 2018

The Korea International Trade Association said Wednesday it has set up an office in Dubai, the first regional arm in the Middle East and Africa, following President Moon Jae-in’s latest visit to the United Arab Emirates. 　The office will support small and mid-sized companies jumping into the markets of the Middle East and Africa, provide them with trade and market information and speak for the interests of Korean companies by building a network. “Through the UAE office, we hope many excellent Ko

Industry March 28, 2018

Daewoo Engineering & Construction is slated to start selling apartment units of Cheongju Hillspark Prugio from next month. The apartment complex will be located in Cheongwon-gu, Cheongju, the capital and largest city of North Chungcheong Province. A perspective view of Cheongju Hillspark Prugio (Daewoo Engineering & Construction)Cheongju Hillspark Prugio, which recently began construction, will contain a total of 777 households, with the area for each apartment ranging between 75 square meters a

Industry March 27, 2018

South Korea has been exempted from US steel tariffs in return for cutting its exports volume by 30 percent, Korea’s trade minister said Monday after returning from a third round of talks on revising the Korea-US free trade agreement in Washington a day earlier.The steel tariff was put on the negotiation table after the Trump administration signed an order to impose a 25 percent tariff on imported steel earlier this month.Korea will be the first nation the US has excluded from the list.  Trade Mi

Industry March 26, 2018

South Korea and the United States have reached an agreement “in principle” on renegotiation of their free trade agreement, said the trade minister who returned from the US on Sunday, signaling that three-month-long talks have come to an end.The two countries started renegotiating the deal after the Trump administration called for a revision in June last year on the grounds of the nation’s growing trade deficit with Korea. “As for the trade deal and the US steel tariff issue, we reached an agreem

Industry March 25, 2018

The Korea Herald is publishing a series of features and interviews on South Korea’s business environment for foreign companies and investors. This is the first installment. -- Ed. Amid the steady growth of foreign direct investment in Korea in the past decade, foreign companies doing business here say the market and consumers are attractive, but the ambiguous regulations are a headache. Foreign direct investment in Korea has nearly doubled over a decade from $11.7 billion in 2008 to $22.8 billio

Industry March 21, 2018

South Korea will foster global, competitive midsized companies through financial and regulatory support with the aim of creating an additional 130,000 jobs over the next five years, the government said Monday.The Ministry of Trade, Industry and Energy announced its plan to increase the number of midsized companies from 3,558 in 2015 to 5,500 by 2022, with the additional goal of increasing the number of companies generating more than 1 trillion won ($910 million) in sales from 34 in 2018 to 80 by

Business Feb. 5, 2018

DAEGU -- A top executive at Hyundai Motor Group, South Korea’s largest automaker, hinted Thursday at a strategic partnership with Samsung Electronics, which has been expanding into the vehicle component business in recent months. When asked by The Korea Herald about a possible partnership with the South Korean tech giant to develop electronic vehicle components and infotainment systems, Hyundai Motor Group Vice Chairman Kwon Moon-sik said, “We will do so.” But regarding the plan and timeline, th

Mobility Nov. 23, 2017

The fifth-generation network is a key factor for up-and-coming data-oriented technologies.Virtual reality, self-driving automobiles, artificial intelligence and the Internet of Things, which will be at the forefront of future industries, require a network that can transmit massive data seamlessly.  (123rf)To keep pace with the future connected world, Korean telecom operators KT, SK Telecom and LG Uplus are speeding up the development of the fifth-generation mobile network, or 5G network, with th

Technology Sept. 24, 2017

Korean telecom operators are seeking partnerships with Israeli automotive tech firm Mobileye to maximize their presence in the self-driving car industry by combining their fast network capacities with the company’s big data technologies. Mobileye, which was acquired by Intel for $15.3 billion in March, is a leading advanced driver-assistance system solution provider to most global automakers. ADAS solution is a vehicle safety system which alerts drivers to potential collisions or accidents, by g

Industry Aug. 10, 2017

Samsung Electronics said Wednesday it unveiled the world’s largest-capacity Vertical-NAND memory solutions amid growing demand for data-intensive applications across many industries using artificial intelligence and Internet of Things technologies. The world’s largest memory chip maker showcased 1-terabit V-NAND technology and an array of new solid state drives at the annual Flash Memory Summit held in California on Tuesday. Samsung said these solutions will be at the forefront of enabling data-

Industry Aug. 9, 2017