Finance Minister Choi Sang-mok (center) speaks during a meeting with economy-related ministers including SMEs and Startups Minister Oh Young-ju (left) and First Vice Science Minister Lee Chang-yune (right) at the government complex in Seoul, Wednesday. (Yonhap) The South Korean government will inject 8.8 trillion won ($6.45 billion) next year to advance the country’s semiconductor ecosystem

SEOUL, Oct. 10 (Yonhap) -- German-based tech company Merck on Thursday launched a new research and development (R&D) center for a key semiconductor material for artificial intelligence (AI) chips in South Korea in a bid to respond quickly to customer needs here. The Korea Spin-on-Dielectric (SOD) Application Center, located in Anseong, 65 kilometers south of

SEOUL, Oct. 2 (Yonhap) -- Samsung Heavy Industries Co., the world's third-largest shipbuilder by orders, said Wednesday it has received a 678.3 billion-won (US$514 million) liquefied natural gas (LNG) order. Samsung Heavy has obtained the deal from an unidentified shipper in Asia and plans to deliver the LNG ships by April 2027, the company said

SEOUL, Sept. 27 (Yonhap) -- HD Korea Shipbuilding & Offshore Engineering Co., a major South Korean shipyard, said Friday it has secured a 674.6 billion-won (US$511.3 million) order to build four container ships from an Asian shipper. HD Hyundai Samho Heavy Industries Co., one of HD Korea Shipbuilding's three shipbuilding units, will construct the vessels

SEOUL, Sept. 19 (Yonhap) -- GS Caltex Corp., South Korea's second-biggest refiner by sales, said Thursday it has exported sustainable aviation fuel (SAF) to a Japanese trading company. Last week, GS Caltex supplied 5,000 kiloliters of SAF to Itochu Corp., which has delivered the environment-friendly fuel to Narita International Airport, the company said in a

SEOUL, Sept. 12 (Yonhap) -- Hyundai Motor Co. said Thursday it will expand collaboration with U.S. auto giant General Motors Co. (GM) across key strategic areas, including vehicle and clean energy technologies, to create a synergy effect in the global market. Under a memorandum of understanding signed, Hyundai and GM will push for joint production

SEOUL, Sept. 5 (Yonhap) -- LS Cable & System Ltd., South Korea's biggest cable company, said Thursday it aims to achieve 10 trillion won (US$7.5 billion) in sales in 2030 by winning more submarine cable and internet data center cable deals. The 2030 sales target is 61 percent higher than the 6.22 trillion won the

SEOUL, Aug. 28 (Yonhap) -- Samsung SDI Co., a South Korean battery maker, said Wednesday it has signed a formal deal with global automaker General Motors Co. to jointly build electric vehicle (EV) batteries in the U.S. state of Indiana. Under the deal, the two companies will invest a combined US$3.5 billion to build the

SEOUL, Aug. 23 (Yonhap) -- Hanwha Aerospace Co., the defense industry unit of South Korea's Hanwha Group, said Friday it has completed building its first overseas plant in Australia to produce self-propelled howitzers and armored vehicles there. The Hanwha Armoured Vehicle Centre of Excellence (H-ACE) will begin the production of the AS9 self-propelled howitzer and

SEOUL, Aug. 20 (Yonhap) -- The industry ministry said Tuesday that it has resumed negotiations with Malaysia to secure a bilateral free trade agreement as South Korea aims to broaden its trade portfolio. The fourth round of negotiations for the FTA kicked off in Kuala Lumpur for a four-day session, marking the first meeting since