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In 2024, South Korea plans to implement a new hydrogen classification system.
The Ministry of Trade, Industry, and Energy of South Korea announced on Wednesday that beginning in 2024, the country will adopt a new clean hydrogen certification system that will assess businesses' carbon footprints according to the total amount of carbon emissions rather than the method of...
S. KOREA SAW A RECORD INCREASE IN EXPORTS BY 41.1% IN APRIL
Highlights –
- S. Korea saw a record increase in exports by 41.1% in April.
- Exports grew on demand for chips and automobiles.
- Outbound shipments in April were reported to be $51.1 billion.
- Stronger demand for laptops and othe...
S. KOREA’S EXPORTS OF COVID-19 VIRUS RELATED GOODS ROSE $5.9 BILLION
Highlights –
- S. Korea’s exports of COVID-19 virus related goods rose $5.9 billion.
- The country's overall exports came to $512.8 billion, down 5.4 percent from 2019.
- Exports of medical test kits surged $4.5 billion in 2020.
SK HYNIX’S PROJECT TO BUILD NEW SEMICONDUCTOR COMPLEX APPROVED
Highlights –
- SK Hynix’s project to build new semiconductor complex approved.
- The project is said to be of $106 billion and is a move to ease supply shortages.
- The company has completed all the necessary administrative procedures...
S. KOREA’S EXPORTS OF MEDICAL PRODUCTS ROSE TO $4.67 BILLION IN 2020
Highlights –
- S. Korea’s exports of medical products rose to $4.67 billion in 2020.
- Exports to the EU saw a significant rise on-year in 2020.
- South Korean trade and medical officials vowed with EU counterparts to make joint effor...
S. KOREA TO BOOST CIVIL-MILITARY TIES IN 2021 BY INVESTING $182 MILLION
Highlights –
- S. Korea to boost civil-military ties in 2021 by investing $182 million.
- The South Korean government plans to carry out more than 200 projects centered around state-of-the-art technologies.
- The government increased the bu...
S. KOREA’S EXPORTS OF AUTOMOBILES INCREASE BY 35 PERCENT IN FEBRUARY
Highlights –
- S. Korea’s exports of automobiles increase by 35 percent in February.
- In February, outbound shipments of automobiles were 161,886 units.
- Hyundai saw overseas sales increase by 40.4 percent in terms of units. ...
S. KOREA LAUNCHES NEW COMMITTEE WITH BUSINESS GROUPS TO CUT GREENHOUSE GASES
Highlights –
- S. Korea launches new committee with business groups to cut greenhouse gases.
- The new committee has been formed from businesses of chip and display industries.
- The committee will make joint efforts to develop environmenta...
S. KOREA CONGLOMERATES TO INVEST $38.2 BILLION IN THE HYDROGEN INDUSTRY
Highlights –
- S. Korean conglomerates to invest $38.2 billion in the hydrogen industry.
- SK, Hyundai Motor, POSCO, Hanwha, and Hyosung are ready to invest in a wide range of hydrogen infrastructure.
- SK Group plans to invest 18.5 trillio...
S. KOREA’S EXPORTS RISE IN FEBRUARY BY 9.5 PERCENT
Highlights –
- S. Korea’s exports rise in February by 9.5 percent.
- The country’s exports came to $44.8 billion last month.
- The imports rose by 13.9 percent to $42.1 billion.
- Outbound shipments of chips expanded 13...
S. KOREA’S RETAIL SALES ROSE BY 6 PERCENT IN JANUARY
Highlights –
- S. Korea’s retail sales rose by 6 percent in January.
- Due to the pandemic more consumers purchased daily necessities from online stores.
- In January, combined sales of 26 major offline and online retailers reached 12...
S. KOREA BY 2030 TO INCREASE NUMBER OF ECO-FRIENDLY CARS TO 7.85 MILLION
Highlights –
- S. Korea by 2030 to increase number of eco-friendly cars to 7.85 million.
- The country vision’s to go fully carbon neutral by 2050.
- South Korea has been the 4th largest exporter of electric cars in 2020.
- T...
S. KOREA’S INDUSTRY MINISTRY TO RAISE $179 MILLION FOR ECO-FRIENDLY AUTOMOBILES
Highlights –
- S. Korea’s industry ministry to raise $179 million for eco-friendly automobiles.
- The ministry has reached an MOU with a bunch of industrial and financial partners.
- The government plans to invest 50 billion won. ...
S. KOREA TO PROVIDE $27.4 BILLION IN GREEN AND DIGITAL SECTOR EXPORTS
Highlights –
- S. Korea to provide $27.4 billion in green and digital sector exports.
- The country will provide low-interest loans to exporters in such fields through 2025.
- The country also plans to expand official development assistance...
HYUNDAI ANNOUNCES TO START PILOT PROJECT TO REUSE BATTERIES FOR ELECTRIC VEHICLE
Highlights –
- Hyundai announces to start pilot project to reuse batteries for electric vehicle.
- S. Korea has decided to give regulatory exemptions for business models on the reuse of EV batteries.
- Hyundai has also decided to provide a ...
S. KOREA EXPECTS EXPORTS OF CHIPS TO TOP AT US$100 BILLION IN FY 2021
Highlights –
- S. Korea expects exports of chips to top at US$100 billion in FY 2021.
- The expected projection is said to increase by 10.2 percent on-year to $109.3 billion in 2021.
- The country’s two leading memory chipmakers are S...
EXPORTS IN SOUTH KOREA DECRESED BY 5.4 PERCENT IN 2020
Highlights –
- Exports in South Korea decreased by 5.4 percent in 2020.
- In 2020, the outbound shipments came to the US $512.8 billion.
- The country’s imports moved down to 7.2 percent on-year to $467.2 billion.
- Outbound ...
SOUTH KOREA’S RETAIL SALES IN NOVEMBER PEAKED TO 6.3 PERCENT
Highlights –
- South Korea’s retail sales in November peaked at 6.3 percent.
- The combined of 26 major offline and online retailers reached 12.41 trillion won in November.
- Online platforms saw their sales jump 17 percent over the p...
HYUNDAI ELECTRIC TO DIG DEEPER INTO SUSTAINABLE ENERGY MARKET WITH PACIFICO ENERGY KOREA
- Hyundai Electric & Energy Systems Co. said Wednesday it will dig deeper into the renewable energy market in cooperation with Pacifico Energy Korea, a South Korean unit of US Pacifico Energy.
- Under the preliminary deal with renewable energy developer Pacifico Energy Korea, H...
Japan partially lifted curbs on exports to South Korea of a chip content
SEOUL, Dec. 20 (Yonhap) — In an apparent gesture of goodwill ahead of next week's trilateral summit with Seoul and Beijing, Japan partially lifted curbs on exports to South Korea of a chip content, one of three items subject to recent restrictions.
Yet Seoul said that while it...