WASHINGTON, Dec. 19 (Korea Bizwire) — Hackers linked to North Korea stole more than US$1.3 billion from crypto platforms this year, marking the largest ever annual amount that they have raked in from hacking activities, a report from a blockchain analysis firm showed Thursday. Chainalysis released its analysis on North Korea-affiliated hackers’ activities, saying that [...]
SEOUL, Dec. 20 (Korea Bizwire) – A drillship participating in a major resource exploration project in the East Sea began its first drilling operation early Friday, the state-run oil company said, marking the full-fledged start of the search for an estimated 3.5 billion to 14 billion barrels of oil and gas. The announcement followed the [...]
SEOUL, Dec. 20 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday its U.S. unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor. LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Korea’s ambitious “Blue Whale Project,” aimed at exploring oil and gas reserves off the coast of Pohang, is facing significant hurdles due to political turmoil, budget cuts, and opposition from local fishermen. The drilling vessel West Capella began operations on December 17, drilling 2 kilometers into the seabed at [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Korean industry and academia have proposed creating a “KSMC” (Korea Semiconductor Manufacturing Company), modeled after Taiwan’s TSMC, to address challenges facing the nation’s semiconductor industry. The plan, revealed at a seminar held by the National Academy of Engineering of Korea (NAEK) on December 18, aims to build a [...]
SEOUL, Dec. 19 (Korea Bizwire) — Samyang Foods Inc., famous for its Buldak spicy ramen, said Thursday it will invest 201.4 billion won (US$139 million) to build its first overseas plant in China by early 2027 to meet the growing local demand for its products. Samyang plans to establish a subsidiary in Singapore in the [...]
SEOUL, Dec. 19 (Korea Bizwire) — Doosan Enerbility Co. said Thursday it plans to supply key components for a small modular reactor (SMR) project by TerraPower LLC, a nuclear reactor startup founded by Bill Gates, in the United States. The South Korean nuclear power plant builder said it has signed a contract with TerraPower to [...]
SEOUL, Dec. 19 (Korea Bizwire) – Nearly one-third of South Korea’s small and medium-sized exporters report being negatively impacted by the country’s ongoing political turmoil, according to a survey conducted by the Korea Federation of SMEs. The survey, conducted from December 10 to 13 among 513 exporting SMEs, revealed that 26.3% of respondents had experienced [...]
SEOUL, Dec. 19 (Korea Bizwire) – The Korea Consumer Agency (KCA) announced on December 18 that domestic brands demonstrated superior value for money in a comprehensive quality and safety evaluation of 10 wireless headphone models currently available in the market. The evaluation covered a wide range of models across different price points and countries of origin: [...]
SEOUL, Dec. 18 (Korea Bizwire) – Samsung Biologics announced on December 18 that it will invest in U.S.-based biotech company Generate Biomedicines through the Samsung Life Science Fund, a venture fund established to advance life sciences innovation. The Samsung Life Science Fund, jointly capitalized with KRW 240 billion ($167 million) by Samsung Biologics, Samsung C&T [028260], [...]