Industry | BusinessKorea

Thursday, August 24, 2017

Industry

South Korea’s intellectual property trade deficit reached an all-time low of US$600 million in the first half of this year.
IP Trade Deficit
24 August 2017 - 1:00pm
The Bank of Korea announced on August 22 that South Korea’s intellectual property trade deficit reached an all-time low of US$600 million in the first half of this year. For reference, the deficit...
Around 49% of South Korean small and medium-sized exporters that have production bases abroad are considering increasing their overseas production.
Increasing Overseas Production
24 August 2017 - 1:00pm
The Korea International Trade Association released a report on August 23 via the Institute for International Trade. According to the report, approximately 49% of South Korean small and medium-sized...
The Korea Development Bank is planning to ask Chairman Park Sam-koo to notify whether he will exercise his right of first refusal as China’s Qingdao Doublestar Tire made an official request to creditors to cut the sale price of Kumho Tire.
Another Chance for Chairman Park?
24 August 2017 - 12:30pm
China’s Qingdao Doublestar Tire, the preferred bidder of Kumho Tire, made an official request to creditors to cut the sale price of Kumho Tire by 16 percent, or 155 billion won (US$137.45 million)....
The industrial economic relations between S. Korea and china is changing from vertical complementary to horizontal specialization and competition.
Turning Point in Relationship
24 August 2017 - 12:00pm
South Korea sees five out 10 major export and import items to China and from China, such as semiconductor, flat display and wireless communication devices – overlap, facing growing competition with...
A developer at the Electronics and Telecommunications Research Institute (ETRI) demonstrates an automatic interpretation technology while wearing a wearable headset without touching a smartphone.
Automatic Interpretation Machine
23 August 2017 - 10:30am
An automatic interpretation technology that makes possible seamless interaction between users and smartphones without the need of a medium such as a screen developed by a South Korean research team...
Kim Hyun-jong, trade minister of Korea and Robert Lighthizer, US Trade Representative (USTR) are participating in a special session of the Korea-US FTA Joint Committee at the Lotte Hotel in Seoul, Korea on August 22.
No Result from Special Session
23 August 2017 - 9:00am
The US Trade Representative (USTR) who visited Seoul to begin a negotiation to revise the Korea-US Free Trade Agreement (FTA) returned empty-handed. The US aimed to prune trade deficits by hastily...
Samsung Bioepis and Japan's Takeda Pharmaceutical will co-fund and collaboratively develop innovative therapies rather than transferring new candidate materials or technologies.
Milestone for Biopharma Development
22 August 2017 - 5:00pm
Samsung Bioepis Co., a biopharmaceutical affiliate of Samsung, announced on August 21 it has entered into a strategic collaboration agreement with Japan's Takeda Pharmaceutical Co., the largest...
General Motors (GM) launched a US$5,000 small new energy vehicle named the Baojun E100 which does not reveal its identity.
Foreign Brand Use Prohibited
22 August 2017 - 5:00pm
Chinese authorities began to take steps to prevent foreign brands from being exposed in the Chinese electric car market. China's National Development and Reform Commission recently rejected an...
O-film's fingerprint recognition module for smartphones (Source: O-film).
Posing Threat to Korean Firms
22 August 2017 - 5:00pm
O-film, a Chinese smartphone component maker, ranked first in fingerprint recognition module market shares in the world last year. The company achieved a rare feat thanks to a spike in its...
The US auto industry is strongly demanding the revision of the Korea-US Free Trade Agreement (FTA).
Claiming ‘High Import Barrier’
22 August 2017 - 4:45pm
The US auto industry is strongly demanding the revision of the Korea-US Free Trade Agreement (FTA). Both Korea and the US will start discussion on the revision of the agreement on FTA revision on a...
The rendering image of a coal-fired power plant to be built on Matarbari Island in Bangladesh.
Construction Deals
21 August 2017 - 12:15pm
POSCO Engineering & Construction Co (POSCO E&C). has won a deal to construct a coal-fired power plant in Matarbari Island in Bangladesh, along with Japanese trading firm Sumitomo Corp. The...
The Bank of Korea said that more attention should be paid to the potential negative effects  following the introduction of new robot technology.
Potential Negative Effect
21 August 2017 - 11:30am
The Bank of Korea said in its report that more attention should be paid to the potential negative effects on employment and income distribution which can result from the introduction of new robot...

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