S. Korea's kimchi exports up 35% in first 4 months of 2021
May 25, 2021 23:57 pm UTC| Economy Business
South Koreas exports of kimchi reached US$61.1 million in the first four months of 2021 to advance 35 percent on-year, on the growing demand for healthier foodstuffs amid the pandemic. Japan accounted for $31 million of...
LG Energy allocates 400 billion won to replace China-made ESS batteries over fire risk
May 25, 2021 23:55 pm UTC| Economy Business
South Korean battery maker LG Energy Solution will spend an estimated 400 billion won to voluntarily replace lithium-ion batteries used in Chinese-made energy storage systems (ESS) over potential fire risks. LG Energy...
Hyundai Engineering's bid selected for Poland plant project
May 25, 2021 23:52 pm UTC| Economy Business
A Hyundai Engineering Co. consortium has been selected as the preferred bidder for a US$2.4 billion project to utilize naphtha from a petrochemical complex in Poland to be used in the production of ethylene. The...
S. Korea to assist auto chip parts makers with tax benefits, other financial support
May 25, 2021 23:44 pm UTC| Economy Business
South Korea will provide tax incentives and financial support to corporate projects to develop eight key parts and materials, such as automotive chips and rare-earth permanent magnets used for electric vehicles. The...
US federal funding could result in up to 10 new chip factories
May 25, 2021 23:40 pm UTC| Economy Business
A proposed $52 billion boost in US federal funding for semiconductor production and research could unlock private capital resulting in up to 10 new factories, according to US Commerce Secretary Gina Raimondo. The...
Renault-Nissan workers in India go on strike today due to company's failure on COVID safety demands
May 25, 2021 23:36 pm UTC| Economy Business
Renault-Nissans workers at its car plant in Tamil Nadu, southern India will go on strike today for the failure of the company to meet their COVID-related safety demands. The strike threat comes ahead of a court hearing...
Japan's Kawasaki Heavy builds world’s liquid hydrogen tanker
May 25, 2021 23:32 pm UTC| Economy Business
Kawasaki Heavy Industries Ltd. has now developed the worlds first liquified hydrogen tanker expected to be used for Japans goal of utilizing hydrogen and ammonia as the fuel for 10 percent of electric power generation by...
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