South Korean President Yoon Suk Yeol will embark on state visits to Saudi Arabia and Qatar this weekend to bolster economic and future-oriented tech collaborations with the Middle East countries, amid mounting regional security concerns over the Israel-Hamas conflict. Kim Tae-hyo, first deputy director of South Korea's National Security Office, told reporters Thursday that Yoon is scheduled to visit Riyadh, the Saudi Arabian capital, from Saturday to Tuesday, followed by Doha, Qatar, fo

LG Chem Ltd. and GS Caltex Corp. plan to produce a prototype of a material for biodegradable plastics next year, as they step up cooperation for the development of the eco-friendly raw material, the companies said Friday. LG Chem and GS Caltex signed an agreement in 2021 to develop technology for the production of the material called 3-Hydroxypropionic Acid (3HP). Plastic made from 3HP can be used to replace various disposable materials. In July of last year, they started construction on a plant

South Korean oil refiner GS Caltex announced Thursday that it has secured a partnership with Posco International to expand their presence in the biofuel industry, accelerating efforts toward a green transformation. The agreement was signed at the Posco Center in Gangnam, Seoul, Thursday, with top executives including GS Caltex CEO Hur Sae-hong and Posco International Vice Chairman and CEO Jeong Tak in attendance. Through a joint venture, the two will build the new refinery facility in Kalimantan

ZHONGSHAN, China, Oct. 12, 2023 /PRNewswire/ -- The industry enters the peak season with booming business opportunities in the golden autumn. Catching the eye of global lighting professionals, the 29th China (Guzhen) International Lighting Fair ("Lighting Fair") is to be held in Guzhen Town, Zhongshan City, Guangdong Province, China from October 22 to 26, 2023! On the theme of "Guzhen Lights up the World", Guzhen Lighting Fair is positioned to be specialized, market-oriente

BMW Korea said Thursday it will install 1,000 new chargers for electric vehicles in South Korea next year, almost doubling the number of its EV chargers in the country. Under its “Charging Next” project, BMW Korea plans to make the new chargers compatible with all EVs, not just BMW EVs. The German automaker currently operates 920 charging points nationwide and plans to complete the installation of more to reach a total of 1,100 by the end of the year. With the additional 1,000 charge

Major South Korean refiners are expected to post a turnaround in their third quarter earnings, recovering from losses and dismal profits in the previous quarter, on the back of stronger margins amid rising oil prices, according to analysts Friday. SK Innovation Co., the energy unit under SK Group, is forecast to log 667.5 billion won (US$498 million) in the operating profit for the July-September period, turning around from a loss of 107 billion won in the previous three months, according to the

SEOUL, South Korea, Sept. 27, 2023 /PRNewswire/ -- Wayne Hills Bryant A.I., often referred to as "Wayne Hills", recently announced a groundbreaking research project through its U.S. division. The initiative, named "Wayne Hills Neural Network A.I.", is aimed at developing an A.I. system capable of producing video content directly from human thoughts. Wayne Hills Neural Network A.I Central to this innovation is the utilization of Brain-Computer Interface (BCI) te

This April, tragedy narrowly averted a GS Construction Consortium’s apartment construction site in Geomdan New Town, Incheon. The upper layers of an underground parking garage, designated as a children's playground, gave way, triggering a chain collapse. While no casualties were reported as the accident happened late at night, the subsidence revealed a grim scenario had it occurred post-completion. A month later, GS Engineering & Construction, the builder, admitted to omitting ste

SEOUL, South Korea, Sept. 14, 2023 /PRNewswire/ -- Great Place to Work®, a global evaluation organization established in 1990, conducts research on trust management and disseminates it in collaboration with 150 countries worldwide, including the United States, Europe, and Japan. The organization selects and announces, "Best Workplaces" in each country, such as the "Fortune 100 Best Companies to Work For®" in the United States, "100 Best Workplaces in Europe™

South Korean stocks finished lower Wednesday, as rising global oil prices renewed concerns about inflation and the continued push for monetary tightening by major economies. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 18.84 points, or 0.73 percent, to close at 2,563.34, extending a losing streak to the second session. Trading volume was moderate at 415.9 million shares worth 7.55 trillion won ($5.66 billion), with losers outpacing gainers 5

South Korean energy firm GS Caltex and the country's flag carrier Korean Air said Tuesday that an aircraft using biojet fuel aimed at decreasing the aviation industry's carbon footprint was scheduled to take off toward Los Angeles. During a pilot operation ceremony at Incheon Airport on Tuesday, Kim Chang-soo, GS Caltex's executive vice president and director of Mobility & Marketing; Cho Sung-bae, Korean Air's senior vice president of procurement; and representatives from

GS Engineering and Construction has unveiled its European-style modular residential unit at this year's IFA, one of the world's largest consumer appliance trade shows held in Berlin from Sept. 1-5. Called Smart Cottage, the latest product began construction using modular manufacturing in May. The project was a joint collaboration between GS E&C’s Poland-based subsidiary modular company Danwood SA and South Korean electronics giant LG Electronics. The modular unit combines G

L’Oreal Korea, making its 30th anniversary this year, said Friday it would boost collaboration with South Korean partners to ride the K-beauty boom around the world. “Korea has a very strategic and strong role to play within the ecosystem of the North Asia Beauty Triangle,” Fabrice Megarbane, president of the company’s North Asia Zone and CEO of L’Oreal China, during a press conference at the Korean unit’s headquarters in southern Seoul. The North Asia Beauty

Sapeon, a global AI semiconductor company that spun out from SK Telecom last year, announced Wednesday it concluded its Series A financing round, securing over 60 billion won ($45.4 million) in investments. With the latest round, the company's valuation now exceeds 500 billion won. Ascent Equity Partners led the financing as the primary investor. Other key investors included GS Group affiliates like Daebo Communication & Systems Corp., Hana Financial Group, Mirae Asset Venture Investmen

South Korean builder GS Engineering & Construction, facing an unprecedented business suspension for up to 10 months over the recent collapse of an underground parking lot it built, seems to have no other way but to go abroad to seek new business opportunities for the time being, industry sources said Monday. According to an official from the Ministry of Land, Infrastructure and Transport, the government will push to suspend the company’s operations for eight months under the land minister&