Saudi Vision 2030
Scope
Date
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Electric vehicles
Hyundai ties up with LG, SK for $5.3 bn US EV cell plants
Hyundai Motor Group, the leading South Korean automaker, has joined hands with LG Energy Solution Ltd. and its smaller rival SK On Co. to build elec...
Apr 21, 2023 (Gmt+09:00)
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Batteries
S.Korea to inject $15 bn in rechargeable battery sector by 2030
South Korea will invest 20 trillion won ($15.1 billion) in the rechargeable battery sector by 2030 to widen its technology gap with global competito...
Apr 20, 2023 (Gmt+09:00)
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Travel & Leisure
Korea Tourism Organization to host K-Tourist Festival in Japan
The Korea Tourism Organization announced on Thursday that it will hold a "K-Tourism Festival" on Apr. 21-22 in Hiroshima and Fukuoka, the key market...
Apr 20, 2023 (Gmt+09:00)
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Korean startups
S.Korean gov't to support domestic startups in Saudi Arabia entry
South Korea's Ministry of SMEs and Startups held on Wednesday the "K-Deep Tech Startup Meetup" event at Startup Alliance & Space in Gangnam dist...
Apr 19, 2023 (Gmt+09:00)
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Corporate strategy
POSCO International to transform into green company by 2030
POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., on Thursday unvei...
Apr 13, 2023 (Gmt+09:00)
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Batteries
LS Group' corporate value soars as EV battery market grows
LS Corp., a holding company of South Korea's LS Group, has seen its enterprise value swell by nearly 1 trillion won ($760 million) over the past yea...
Apr 11, 2023 (Gmt+09:00)
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Automobiles
Hyundai to spend $18 bn on EVs; Kia breaks ground on first PBV plant
South Korea’s largest automaker Hyundai Motor Group has unveiled its 2030 vision to become one of the world’s top three electric vehicle...
Apr 11, 2023 (Gmt+09:00)
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Tech, Media & Telecom
S.Korea to allocate 70% of annual R&D budget to eleven core tech areas
The South Korean government plans to allocate 70% of its annual R&D budget to 40 projects for research and development in eleven core industrial...
Apr 10, 2023 (Gmt+09:00)
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Korean chipmakers
S.Korean AI chip fabless Rebellions beats global chip giants in MLPerf tests
Rebellions Inc., a South Korean artificial intelligence chip design startup, beat global chip giants Qualcomm Technologies Inc. and Nvidia Corp. in ...
Apr 07, 2023 (Gmt+09:00)
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Steel
Korean Dongkuk opens 2nd Mexican color-coated steel plant
Dongkuk Steel Mill Co. opened its second color-coated steel plant in Mexico as South Korea’s third-largest steelmaker aims to expand its prese...
Mar 31, 2023 (Gmt+09:00)
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Tech, Media & Telecom
Naver to aid in Saudi’s digital transformation, green light for Neom deal
South Korea’s online business giant Naver Corp. said on Thursday it has signed an initial agreement with the Saudi Arabian government to assis...
Mar 30, 2023 (Gmt+09:00)
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Tech, Media & Telecom
Hanwha Vision participates in Asia's largest integrated security expo
Hanwha Vision (formerly known as Hanwha Techwin) announced on Thursday its participation in SECON 2023, the largest integrated security exhibition i...
Mar 30, 2023 (Gmt+09:00)
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Batteries
LS Group completes nickel sulfate plant for EV batteries
South Korea’s LS Group said on Monday it has completed construction of a new plant to produce nickel sulfate, a key raw material for next-gene...
Mar 27, 2023 (Gmt+09:00)
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Tech, Media & Telecom
Samsung, Aramco to cooperate in using industrial 5G tech
Samsung Electronics Co. and Saudi Aramco announced on Friday the signing of a strategic cooperation memorandum of understanding aimed at localizing ...
Mar 24, 2023 (Gmt+09:00)
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Korean startups
Saudi Arabia emerges as land of opportunity to Korean startups
South Korean startups rush to the Kingdom of Saudi Arabia, where the government is keen to nurture startups with innovative and disruptive ideas and...
Mar 23, 2023 (Gmt+09:00)
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Korean startups
Wave Lifestyle Tech signs MOU with Saudi gov't to expand robot business
Wave Lifestyle Tech, a South Korean foodtech robot company, said on Monday that it has signed a memorandum of understanding with Saudi Arabia’...
Mar 21, 2023 (Gmt+09:00)
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Carbon neutrality
Hyundai Motor opens Habitat One exhibition in Seoul
Hyundai Motor Co. announced on Sunday that it will host a "Habitat One" exhibition at Hyundai Motor Studio Seoul in Gangnam, Seoul, showcasing a fut...
Mar 20, 2023 (Gmt+09:00)
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Food & Beverage
Nongshim lands deal to export smart farms to Saudi Arabia
South Korea's food and beverage giant Nongshim Co. will export smart farms to Saudi Arabia, following a similar deal with the United Arab Emirates (...
Mar 13, 2023 (Gmt+09:00)
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Travel & Leisure
H2O Hospitality signs MOU with Ministry of Investment of Saudi Arabia
H2O Hospitality Ltd., a South Korean company specializing in digital transformation in the hospitality and leisure industries, announced on Monday t...
Mar 13, 2023 (Gmt+09:00)
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Petrochemicals
Hyundai E&C consortium breaks ground on $7 bn S-Oil Shaheen project
A South Korean consortium led by Hyundai Engineering & Construction Co. has embarked on building 9.26 trillion won ($7 billion) petrochemical fa...
Mar 10, 2023 (Gmt+09:00)
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ESG
POSCO Flow to assist World Vision in transportation of relief goods
POSCO Flow, a logistics partner of World Vision, agreed on Tuesday to help transport relief and sponsorship goods for the humanitarian organization ...
Mar 08, 2023 (Gmt+09:00)
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Companies
Hanwha Techwin changes name to Hanwha Vision
South Korea’s Hanwha Techwin on Wednesday changed its name to Hanwha Vision and unveiled its new corporate image. On the reason for the n...
Mar 02, 2023 (Gmt+09:00)
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Bio & Pharma
Korea United Pharm signs contract to supply medicines to Saudi Arabia
Korea United Pharm. Inc. announced on Monday that it signed a contract to supply nine types of medicines, including 11 anticancer drugs, to Saudi ph...
Feb 20, 2023 (Gmt+09:00)
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Bio & Pharma
S.Korea's Hwajin Medical gets FDA sales approval for syringes
HLB Therapeutics Co. announced Thursday that Sofjec, a syringe produced by its subsidiary Hwajin Medical, has been approved for sale by the US Food ...
Feb 17, 2023 (Gmt+09:00)
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Travel & Leisure
KTO steps up Korean tourism promotion in Saudi Arabia
The Ministry of Culture, Sports and Tourism, along with the Korea Tourism Organization (KTO), are accelerating their efforts to promote Korean touri...
Feb 16, 2023 (Gmt+09:00)
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Bio & Pharma
EOFlow's insulin injection pump starts to be sold in UAE
South Korea's medical device maker EOFlow Co. started selling the wearable insulin pump EOPatch in the United Arab Emirates.The company said on Tues...
Feb 15, 2023 (Gmt+09:00)
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Robotics
Samsung Electronics, KAIST join forces to train robotics experts
Samsung Electronics Co. has partnered with the Korea Advanced Institute of Science and Technology (KAIST) to cultivate specialists in robotics. On M...
Feb 14, 2023 (Gmt+09:00)
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Real estate
Zigbang signs agreement with Saudi's National Housing Company
On Monday, South Korean proptech company Zigbang announced a partnership with Saudi Arabia's National Housing Company with the goal of digitalizing ...
Feb 13, 2023 (Gmt+09:00)
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Korean startups
Seoul to run $3.9 billion fund for startups over 4 years
The local government of South Korea’s capital city Seoul this year will launch its own vision fund, dubbed the Seoul Vision 2030 Fund, to inve...
Feb 09, 2023 (Gmt+09:00)
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Hydrogen economy
Lotte Chemical, RWE, Mitsubishi form alliance for clean ammonia
South Korea's Lotte Chemical Corp. has joined forces with German energy company RWE and Japan's Mitsubishi Corporation to create a global consortium...
Feb 08, 2023 (Gmt+09:00)
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