GlobalEconomic GlobalEdition

September 22, 2021

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Webzen officially launches mobile MMORPG ‘Mu Archangel 2’

2021.09.10 09:25

Webzen (CEO Kim Tae-young) has launched new mobile game service ‘Mu Archangel 2’ in Korea.Webzen’s new game ‘Mu Archangel 2’ is the official sequel to mobile MMORPG ‘Mu Arc Angel.’ In the game, gamers can develop team and fight with characters representing this game such as black knights, black wizards, and fairies simultaneously. Characters can be selected in duplicate, and gamers can form more than 50 kinds of their own corps by utilizing the two characteristics of each character.Also, the need for ‘farming’ to get items that is needed for each class and combination increased. It pr
SK Innovation to receive 10 trillion won worth of cathode materials from EcoPro BM

2021.09.10 09:24

SK Innovation will receive 10 trillion won worth of cathode materials from a cathode material manufacturer EcoPro BM.SK Innovation announced on the 8th that it has signed a contract with EcoPro BM to purchase 10 trillion won worth of cathode materials for 3 years from 2024 to 2026.Also, the two companies have decided to expand their cooperation in various areas, such as joint investment in material business related to cathode materials, expansion of factories in Korea and foreign countries, and recycling waste batteries.Through the contract, SK Innovation is planning to lead the high-performan
Hanwha Aerospace to utilize space resources… Join hands with government-funded research institute

2021.09.10 09:22

Hanwha Aerospace has joined hands with 6 government-funded research institutes to boost ISRU (In situ resource utilization) projects. Hanwha Aerospace announced on the 9th that it has signed a MOU agreement for ISRU with government-funded research institutes at the Korea Institute of Geoscience and Mineral Resources (KIGAM) in Daejoen. This is the first time that Korea aerospace company has signed an ISRU-related agreement with government-funded research institutes.In the signing ceremony, CEO of Hanwha Aerospace Shin Hyun-woo, and presidents of all 6 institutes, including president of the Kor
Appreciate Coal India's initiative to replace diesel with LNG in heavy mining machinery: Rawmatt Industries

2021.09.09 11:19

Coal India Limited (CIL), one of India's largest coal producers plan to retrofit its diesel-run heavy mining equipments like dumpers with LNG kits in a bid to significantly reduce carbon emission and save around INR 500 crore annually. CIL fulfils the needs of more than 80 per cent of the country's coal requirements. Through this green push, under its pilot project CIL is retrofitting two 100-tonne dumpers with LNG kits to study the efficiency and outcome on the performance parameters of the heavy machinery used for transportation of coal in mines.Over the years, the exponential growth of indu
JSPL prepays USD 106 million debt for Australian entity

2021.09.09 11:15

Jindal Steel and Power Limited (JSPL) on Wednesday said that it has made a pre-payment of USD 106 million (about Rs 777.4 crore) to the lenders of its Australian entity.Without sharing further details, the steelmaker said the prepayment has helped the company reduce the "Australian debt" by approximately 50 per cent. In a statement, V R Sharma, Managing Director of JSPL said, "We are paying back to lenders before time in order to strengthen our balance sheet. The company is aligned with the India growth story and we want to become a net debt-free company by FY23 through accelerated deleveragin
Price and dependence on China for raw materials of battery has increased….. Many miles to go to ‘localization of lithium hydroxide’

2021.09.09 10:55

Interest in battery raw materials has been increasing as well as batteries. For example, lithium hydroxide is a raw material for cathode materials that is highly dependent on China.According to the industry on the 8th, lithium hydroxide prices increased 86% year-on-year as of August.The lithium hydroxide is used for the production of large lithium-ion batteries such as electric vehicles (EV) and energy storage systems (ESS). It is the material that can be easily synthesize with nickel. When lithium is added to nickel, cobalt, and manganese, the cathode material is produced. Cathode materials a
GS and POSCO join hands and Lotte build a factory… ‘Hydrogen Competition’ is on fire

2021.09.09 10:53

Before the launch of the ‘Hydrogen Business Council,’ which involves 10 Korean major companies, including Hyundai Motor, SK, and POSCO, companies have announced their blueprints related to hydrogen business. As collaboration between companies and large-scale investment plans are continuously unveiled, the competition for leadership over the hydrogen ecosystem and eco-friendly businesses is becoming fierce.On the 7th, GS Group Chairman Huh Tae-soo and POSCO Group Chairman Choi Jung-woo met with presidents of both affiliates to officially signed a cooperation in new businesses such as hydrogen
Hyundai Heavy Industries’ competition rate for IPO bidding is 276:1 on the closing day and subscription deposit surpassed 38 trillion won

2021.09.09 10:51

Hyundai Heavy Industries' competition rate for general IPO bidding on the closing day rose to 276:1. The subscription deposit surpassed 38 trillion won.According to Mirae Asset Securities, the lead manager of Hyundai Heavy Industries' listing, on the 8th, the competition rate for IPO bidding is 276.24:1 as of 2 p.m. that day.A total of 4,608,003 shares will be offered but 1,272,926,480 shares have been placed. The number of bidding shows 1,388,659.By broker, the competition rate of Mirae Asset Securities is 294.02:1, Korea Investment & Securities 287.97:1, Hana Financial Investment 257.09:1, K
BBQ is the 5th fastest growing restaurant brand in the U.S.

2021.09.08 17:52

Fried chicken franchise Genesis BBQ is growing rapidly in the U.S. market. It is one of the brand which is growing fast and listed in the top 500 restaurant brands in the U.S. in sales.BBQ announced on the 8th that BBQ ranked 5th in the ‘Top 25 fastest-growing restaurant brand in the U.S.’ released by a global dining industry media Nation's Restaurant News.Nation's Restaurant News, established in 1956, is a specialized media in the restaurant industry and has many subscribers and public confidence. On the 7th, it selected 25 brands which is showing fastest growing in the U.S. market based on

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Government’s account turns to deficit of 50 trillion won… the largest amount in 11 years

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