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2 weeks ago | 
koreajoongangdaily.joins.com | Lee Jae-Lim |Park Eun-Jee
Korea’s shipbuilding industry, recently thrust into the global spotlight amid repeated praise from U.S. President Donald Trump, has grown to match world-class standards over the past six decades — driven by strong government backing under former President Park Chung Hee and bold investments by major conglomerates.
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2 months ago | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Home > Business > Industry dictionary The unit price of Korea's exported vehicles last year fell for the first time in eight years amid a prolonged slowdown in EV sales, data showed Sunday. The country exported 2.78 million units worth $64.1 billion last year, according to data by the Korea Automobile Manufacturers Association. The average exporting price per unit totaled $23,048, down $221 from a year earlier.
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2 months ago | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Major banks will expedite efforts to lower interest rates on the back of mounting pressure from financial authorities to better reflect benchmark policy rate cuts. Woori Bank plans to lower household loan rate margins by up to 0.29 percentage points on Friday, after the end of Lunar New Year holiday, following similar moves by Shinhan Bank and KB Kookmin Bank.
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2 months ago | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Korean Air will begin operating two eco-friendly Airbus A350-900 aircraft on short-haul routes to Japan from Monday. The A350-900 is a wide-body aircraft measuring 66.89 meters (219.5 feet) in length and 17.05 meters in height. It is designed for long-haul routes with an operational range of over 12,000 kilometers (7,456 miles), enabling direct service to all regions of Europe and most major cities in North America.
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Jan 20, 2025 | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Home > Business > Industry dictionary HD Hyundai Electric will spend 396.8 billion won ($273.7 million) by the end of 2026 to expand its domestic and overseas power facilities in response to the growing demand driven by the growth of AI-related applications and rising power needs of data centers.
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Jan 20, 2025 | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Home > Business > Industry dictionary LG CNS, the tech arm of LG Group, will collaborate U.S. startup Bear Robotics on the operation and control of autonomous mobile robots (AMRs) for the logistics sector. The companies will initially develop large AMRs designed for heavy industries, as well as smaller AMRs to continuously transport items within LG CNS’s automated logistics facilities, LG CNS said on Monday.
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Jan 20, 2025 | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Samsung Heavy Industries has secured its first order of the year, a 379.6 billion won ($261.5 million) contract to build a liquefied natural gas (LNG) carrier. The vessel is scheduled to be delivered by June 2027 to an undisclosed shipping company in Oceania, according to Samsung Heavy Industries’ electronic disclosure released Monday. With this order, the shipbuilder’s LNG carrier order backlog reached 84 vessels, totaling to $19.1 billion.
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Jan 17, 2025 | 
koreajoongangdaily.joins.com | Lee Jae-Lim
SAN FRANCISCO — Hugel, a Kosdaq-listed aesthetic company, is set to enter the North American market this year following a favorable ruling by the U.S. trade regulator in a lawsuit seeking to block its distribution efforts in the country.
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Jan 17, 2025 | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Home > Business > Industry dictionary SAN FRANCISCO — Lotte Biologics, a late entrant to the contract manufacturing industry, is striving to catch up to its crosstown rival, Samsung Biologics, with new leadership and an aggressive expansion of manufacturing facilities located in the United States and Korea.
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Jan 16, 2025 | 
koreajoongangdaily.joins.com | Lee Jae-Lim
Home > Business > Industry dictionary Audio report: written by reporters, read by AI SAN FRANCISCO — Samsung Biologics is poised to secure multiple deals for its new antibody-drug conjugate (ADC) business, which is set to commence operations in the first quarter of this year. The news comes within a month of the Korean drugmaker's announcement that construction of its ADC-dedicated facility in Songdo, Incheon, was completed.
