K-News Bulletin

Ultium Cells is investing 2.7 trillion won ($2.4 billion) in a battery factory in Spring Hill, Tennessee, the company’s shareholders announced Saturday.
 
Owned 50-50 by LG Energy Solution and General Motors, the joint venture is already building a 2.7-trillion-won battery plant in Lordstown, Ohio.


Full Article: https://koreajoongangdaily.joins.com/2021/04/18/business/industry/lg-energy-solution-ultium-cells-general-motors/20210418153202071.html

President Moon Jae-in stressed the need for evolution of Korea’s industries as the global economy changes after the Covid-19 pandemic. 
 
“The global economy currently is undergoing a massive change,” Moon said during a meeting with CEOs of leading Korean companies including Samsung Electronics, Hyundai Motor and SK hynix and top government officials including Finance Minister Hong Nam-ki on Thursday.


Full Article: https://koreajoongangdaily.joins.com/2021/04/15/business/economy/Moon-Jaein-biz-meeting-Semiconductor-race-Job-Biden-infrastructure/20210415174100464.html 

Gross employment increased for the first time in more than a year in March, another sign that economic recovery is on the way.
 
In March, the total number of people working in the country was 26.9 million, up 314,000 on year, according to Statistics Korea. It is the first on-year rise in 13 months.
 
The base effect helped boost the number, as employment dropped dramatically last year at the outset of the pandemic.


Full Article: https://koreajoongangdaily.joins.com/2021/04/14/business/economy/job-recovery-Covid19-strangle-on-service-Youth-jobs-increase/20210414152300459.html

U.S. President Joe Biden is urging chip producers including Samsung Electronics to ramp up production in the U.S., complicating Samsung’s investment plans. 
 
In a virtual summit held on Monday, Biden talked to leaders of semiconductor, automobile and other tech companies. Samsung Electronics President Choi Si-young, who heads its foundry business division, participated along with senior executives of competitors TSMC and Intel. 

Full Article: https://koreajoongangdaily.joins.com/2021/04/13/business/industry/Samsung-Electronics-TSMC-Intel/20210413185700464.html

Actor Youn Yuh-jung won best supporting actress at the 74th British Academy of Film and Television Arts (Baftas) Sunday, just a week after she became the first Korean to bag best supporting actress at the Screen Actors Guild Awards for her performance in “Minari.”
 
After her name was announced by presenter David Oyelowo, Youn began her thank you speech by paying condolences on the death of Prince Philip, the Duke of Edinburgh and the first President of the Baftas. 


Full Article: https://koreajoongangdaily.joins.com/2021/04/12/entertainment/movies/Youn-Yuhjung-Baftas/20210412181400402.html

LG Energy Solution and SK Innovation agreed to settle the high-profile battery trade secret dispute at 2 trillion won ($1.8 billion), putting an end to a 713-day legal fight that was hampering both firm's battery business amid a global electric vehicle (EV) boom.
 
The two companies came to a last-minute agreement Sunday morning, a day ahead of the April 11 presidential review deadline to overturn the U.S. International Trade Commission (ITC) ruling which effectively banned SK Innovation from its EV battery business in the United States for the next 10 years.


Listen to the full story in this week’s episode. Subscribe to the K-News Bulletin to listen to Korea’s biggest headline of the day, written by staff reporters of the Korea JoongAng Daily.


Full Article: https://koreajoongangdaily.joins.com/2021/04/11/business/industry/lg-energy-solution-sk-innovation-battery/20210411182600476.html

The United States is prepared to engage in “some form of diplomacy” with North Korea if it will lead to denuclearization, the White House said Wednesday.
 
“We have a clear objective as it relates to North Korea,” Jen Psaki, the White House spokesperson, said in a press briefing in Washington, which is “denuclearizing the Korean Peninsula.” She added that Washington will continue in the meantime to enforce sanctions and consult with its allies and partners. 


Listen to the full story in this week’s episode. Subscribe to the K-News Bulletin to listen to Korea’s biggest headline of the day, written by staff reporters of the Korea JoongAng Daily.


Full Article: https://koreajoongangdaily.joins.com/2021/04/08/national/diplomacy/White-House-Joe-Biden-Pentagon/20210408165000493.html

Samsung Electronics expects a first-quarter operating profit of 9.3 trillion won ($8.3 billion) as strong smartphone and consumer electronics sales balanced weaker chip performance.
 
The figure, which is up 44.19 percent on year and 2.76 percent on quarter and was released in an earnings guidance announcement Wednesday, beat FnGuide's market consensus of 8.9 trillion won, despite a major shutdown at a chip plant in Austin, Texas.


Listen to the full story in this week’s episode. Subscribe to the K-News Bulletin to listen to Korea’s biggest headline of the day, written by staff reporters of the Korea JoongAng Daily.


Full Article: https://koreajoongangdaily.joins.com/2021/04/07/business/industry/Samsung-Electronics-Galaxy-S21/20210407184300365.html

Youn Yuh-jung became the first Korean to win best female actor in a supporting role for her performance in “Minari” at the 27th Screen Actors Guild Awards on Monday, bringing her a step closer to a possible Oscar win. 
 
When her win was announced by presenter Henry Golding, a look of amazement spread over Youn’s face. 


Listen to the full story in this week’s episode. Subscribe to the K-News Bulletin to listen to Korea’s biggest headline of the day, written by staff reporters of the Korea JoongAng Daily.


Full Article: https://koreajoongangdaily.joins.com/2021/04/05/entertainment/movies/Youn-Yuhjung-best-supporting-actress-SAG/20210405163100412.html

Confidence among manufacturers hit a 27-month high as vaccinations promise to bring the world out of the Covid catastrophe.
 
The Business Survey Index (BSI) for the second quarter hit 99, according to the Korea Chamber of Commerce and Industry (KCCI) on Sunday, up around 30 percent from the previous quarter's 75. 


Listen to the full story in this week’s episode. Subscribe to the K-News Bulletin to listen to Korea’s biggest headline of the day, written by staff reporters of the Korea JoongAng Daily.


Full Article: https://koreajoongangdaily.joins.com/2021/04/04/business/economy/economy-kcci-bis/20210404175000422.html