UAE AIM Foundation
Scope
Date
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Tech, Media & Telecom
LG Innotek gears up for FC-BGA substrate mass production
South Korea’s LG Innotek Co. is preparing to mass produce flip chip ball grid array (FC-BGA) substrates from the fourth quarter of this year, ...
Jan 30, 2023 (Gmt+09:00)
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Automobiles
GM Korea to launch Trax, Cadillac EV; likely turn to profit this year
GM Korea Co. expects to turn to profit this year after years of losses as the South Korean subsidiary of the US auto giant plans to bring six new an...
Jan 30, 2023 (Gmt+09:00)
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Bio & Pharma
Nibec gets approval for its bone graft biomaterials in Colombia, Mexico
South Korea's bioactive peptide technology company Nibec Co. said on Friday that it has obtained product approval for the sale of two types of denta...
Jan 27, 2023 (Gmt+09:00)
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Shareholder activism
KT&G refuses activist funds' call for ginseng biz spinoff
KT&G Corp., the world’s fifth-largest tobacco maker, on Thursday refused activist funds' requests to spin off and list its ginseng unit wh...
Jan 27, 2023 (Gmt+09:00)
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Korean chipmakers
SK Hynix unveils industry’s fastest mobile DRAM chip LPDDR5T
SK Hynix Inc., the world’s second-largest memory chipmaker, said on Wednesday it has developed the world’s fastest mobile DRAM chip and ...
Jan 25, 2023 (Gmt+09:00)
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Electronics
Carrier’s Korea JV aims to raise sales with cold chain biz
Carrier Global Corp.’s joint venture in South Korea aims to ramp up sales with the cold chain business, the series of actions and equipment ap...
Jan 22, 2023 (Gmt+09:00)
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Artificial intelligence
LIG Nex1 opens AI research lab jointly with Korea Robot Institute
LIG Nex1 Co. said on Wednesday that it held an "AI Co-Lab" opening ceremony at the Seoul office of the Korea Institute of Robot and Convergence (KIR...
Jan 20, 2023 (Gmt+09:00)
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Bio & Pharma
LG Chem completes acquisition of US biotech firm AVEO
LG Chem Ltd. is set to complete its $571 million purchase of the US biotech firm AVEO Pharmaceuticals Inc. on Friday, which would strengthen its ant...
Jan 19, 2023 (Gmt+09:00)
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Aerospace & Defense
KAI signs agreement with Northrop Grumman to develop UAVs
Korea Aerospace Industries Ltd. (KAI) said on Thursday that it signed a memorandum of agreement (MOA) in relation to "technical cooperation on verti...
Jan 19, 2023 (Gmt+09:00)
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Bio & Pharma
Medytox to build plant for finished toxin products in Dubai
South Korea's biopharmaceutical company Medytox Inc. will build a plant for finished products containing botulinum toxin in the United Arab Emirates...
Jan 17, 2023 (Gmt+09:00)
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Cryptocurrencies
WeMade sets up blockchain corporation in UAE
WeMade Co., South Korea's game developer and publisher and the issuer of cryptocurrency WeMix, set up WeMix MENA Ltd. in the United Arab Emirates (U...
Jan 17, 2023 (Gmt+09:00)
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Business & Politics
South Korean companies ink $6.1 billion MOUs with UAE partners
ABU DHABI – Business leaders from South Korea and the United Arab Emirates (UAE) have signed 24 initial agreements worth at least $6.1 billion...
Jan 17, 2023 (Gmt+09:00)
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Business & Politics
UAE’s sovereign funds to invest $30 billion in South Korea
ABU DHABI – The United Arab Emirates will invest $30 billion in South Korea across strategic sectors, including the nuclear power, defense, hy...
Jan 16, 2023 (Gmt+09:00)
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Batteries
SK-Ford JV likely to raise $4 bn via US loan program
Glendale, Kentucky -- A battery joint venture between South Korea’s SK On Co. and Ford Motor Co. is likely to raise about $4 billion in a US g...
Jan 15, 2023 (Gmt+09:00)
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Bio & Pharma
SK Inc. eyes significant growth in bio business from 2024
SAN FRANCISCO – SK Inc., the investment and holding company of South Korea’s SK Group, expects significant growth in its biopharma...
Jan 13, 2023 (Gmt+09:00)
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Aerospace & Defense
Hanwha Systems opens UAE branch as core base for Mideast exports
South Korea's Hanwha Systems Co. on Thursday opened a branch office in Abu Dubai, the United Arab Emirates in the wake of the company's business gro...
Jan 13, 2023 (Gmt+09:00)
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Aerospace & Defense
KAI aims to become world's No. 7 aerospace company by 2050
Korea Aerospace Industries Ltd. (KAI) seeks to become the world's No. 7 aerospace company by 2050, aiming to rival the likes of global defense giant...
Jan 13, 2023 (Gmt+09:00)
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Hydrogen economy
SK E&S, Plug Power agree to strengthen hydrogen partnership
SK E&S CEO Choo Hyung-wook met with Plug Power CEO Andy Marsh at CES 2023 in Las Vegas on Jan. 5 to discuss ways to strengthen cooperation in th...
Jan 11, 2023 (Gmt+09:00)
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Korean Innovators at CES 2023
Lotte Chem to raise sales 65% with more advanced materials
LAS VEGAS -- South Korea’s Lotte Chemical Corp. seeks to ramp up sales 65% in nearly 30 years by increasing production of advanced materials, ...
Jan 09, 2023 (Gmt+09:00)
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Energy
Seoul in talks to share nuclear plant export profits with Westinghouse
Korea Hydro & Nuclear Power Co. and its parent company Korea Electric Power Corp. are in discussion with Westinghouse Electric Corp. to share pr...
Jan 09, 2023 (Gmt+09:00)
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Korean Investors
Mirae Asset buys logistics center in India for $17 mn
Mirae Asset Global Managements Co. said on Friday that it has invested 21 billion won ($17 million) in a large logistics center in Mumbai to become ...
Jan 06, 2023 (Gmt+09:00)
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Bio & Pharma
Samjin Pharm to undertake joint ADC R&D with Novelty Nobility
SamjinPharmaceutical announced Wednesday that it has signed a joint research agreement with Novelty Nobility Inc., a company specializing in antibod...
Jan 04, 2023 (Gmt+09:00)
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Future mobility
Hyundai’s Supernal, Microsoft to collaborate on UAM projects
Supernal LLC, the urban air mobility affiliate of South Korea’s top automaker Hyundai Motor Co., and US tech giant Microsoft Corp. have agreed...
Jan 04, 2023 (Gmt+09:00)
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Automobiles
Hyundai, Kia aim to outpace industry growth in 2023
The Hyundai Motor Group is aiming to boost sales by 10% this year from 2022, above an estimated single-digit growth in the global automotive market....
Jan 03, 2023 (Gmt+09:00)
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Tech, Media & Telecom
Sejong kicks off private 5G business for exclusive use for industrial safety
Sejong Telecom, Inc. a mid-sized facilities-based telecommunications business and ICT platform company in South Korea, will launch a private 5G bu...
Jan 03, 2023 (Gmt+09:00)
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Korean games
Qatar, UAE spend most on Korean games, pushing back China, US
Middle Eastern countries have emerged as a blue ocean for the South Korean game industry, ranking first in both per-capita usage amount and playtime...
Jan 02, 2023 (Gmt+09:00)
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Electric vehicles
Hyundai to consider EV assembly plant in Saudi Arabia
Hyundai Motor Group, South Korea’s top automaker, plans to consider building an assembly plant for electric vehicles and internal combustion e...
Jan 01, 2023 (Gmt+09:00)
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Electric vehicles
Hyundai Motor to boost EV leasing in US for tax credits from 2023
South Korean electric vehicles for lease are forecast to receive US tax credits under the Inflation Reduction Act (IRA) as new guidelines of the law...
Dec 30, 2022 (Gmt+09:00)
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ESG
CJ Logistics aims to achieve carbon neutrality goal by 2050
South Korea's parcel delivery company CJ Logistics said on Friday that it will achieve carbon neutrality by 2050 for a more sustainable future in lo...
Dec 30, 2022 (Gmt+09:00)
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Energy
Hyundai Electric to switch to 100% renewable energy by 2040
Hyundai Electric, a power equipment and energy solution affiliate of HD Hyundai, said on Thursday it would convert 100% of the electricity used at a...
Dec 29, 2022 (Gmt+09:00)