Samsung SDI launches new battery brand PRiMX

Samsung SDI has unveiled its new battery brand “PRiMX,” which stands for a prime battery for maximum experience, to better convey its corporate identity that pursues super-gap technology. The rebranding portrays the philosophy of the firm’s new CEO Choi Yoon-ho, who took the post earlier this month. In his inaugural speech, Choi said, “Let’s together embark on a journey of true No. 1 ... based on super-gap technology and best quality.” “Samsung SDI h

IndustryDec. 29, 2021

Samsung Electronics invests in 3D avatar platform Ready Player Me

Samsung Electronics has invested in Ready Player Me, a 3D avatar platform for the metaverse that allows users to explore virtual worlds with one consistent identity, according to a press release Wednesday. Samsung Next, Samsung Electronics’ subsidiary investing in startups with promising technologies, participated in a $13 million series A funding round led by a venture capital Taavet+Sten. According to Ready Player Me, the funding will be used to grow its global presence as the defaul

IndustryDec. 29, 2021

Seoul shares open lower on ex-dividend date

South Korean shares opened lower Wednesday as institutional and foreign investors dumped shares on the ex-dividend date. The benchmark Korea Composite Stock Price Index (Kospi) fell 17.81 points, or 0.59 percent, to 3,002.43 in the first 15 minutes of trading. Overnight, Wall Street showed mixed results amid persistent concerns over the COVID-19 pandemic. The Dow Jones Industrial Average rose 0.26 percent to 36,398.21, but the tech-focused Nasdaq composite index fell 0.56 percent to 15,781.72

MarketDec. 29, 2021

[Interactive] Posco named world’s most competitive steelmaker for 12th year

South Korea’s top steelmaker Posco said it was named the world’s most competitive steelmaker in a global industry report for the 12th consecutive year. In an annual assessment of 35 steelmakers worldwide, global steel information service provider World Steel Dynamics gave Posco the top mark of 8.54 points out of 10, according to the South Korean company. The WSD report, which ranks the steelmakers based on 23 categories, gave top scores for Posco in eight segments, including techno

IndustryDec. 29, 2021

[Interactive] Exports of fishery goods up over 20% through October

South Korea’s exports of fishery products grew 20.5 percent on-year in the first 10 months of this year, data showed. Outbound shipments of fishery products reached $2.24 billion during the January-October period, compared to $1.86 billion tallied a year earlier, according to the data from the Ministry of Oceans and Fisheries. Exports to China rose 48.1 percent to $540 million, and those to the United States and the European Union surged 24.2 percent and 39.4 percent, respectively. Sales

EconomyDec. 29, 2021

Manufacturers' biz sentiment improves for January amid robust exports

South Korean manufacturers' business sentiment improved for January on optimism that the country's exports remain strong despite the global pandemic, central bank data showed Wednesday. The business sentiment index (BSI) for local manufacturers came to 92 for December, up from 88 for this month, according to the data from the Bank of Korea (BOK). The index measures manufacturers' prospects for business conditions in the following month. A reading below 100 means pessimists outnumber optimists.

EconomyDec. 29, 2021

Number of female business leaders in Korea rises to 2.2 million

SEJONG -- The number of women representing small and large businesses in Korea increased by 366,000 over the past five years, data showed Tuesday. In particular, they outnumbered male presidents in private educational services and lodging and food services. According to Statistics Korea, the number of businesses in the nation came to 6.01 million at the end of 2020. About 2.2 million, or 36.7 percent, of them had female presidents, involving chief executives in the case of conglomerates. The

EconomyDec. 28, 2021

[Best Brand] Samsung C&T wins undersea power network order in UAE

Samsung C&T said it has signed a deal to build an undersea high-voltage direct current network that connects the United Arab Emirates’ offshore oil production facilities and Abu Dhabi’s land power network. Samsung C&T said it would form a consortium with Belgian construction company Jan De Nul for the engineering, procurement and construction project worth 3.5 trillion won ($3 billion). Samsung C&T’s portion of the project amounts to 2.7 trillion won. This brin

MarketDec. 28, 2021

Experts on market 2022: Stocks to rebound, home price rise to slow

South Korean shares could recede early next year but will gradually pick up speed in robust rebound on upbeat corporate earnings and consumer sentiment, while the home price rise will slow but with room for a moderate hike, market experts here said. 　 The benchmark Kospi -- which hit a record high on July 6 this year at 3,305 amid ample liquidity and pandemic recovery hopes -- could reach as high as 3,480 next year, though it could also dive down as low as 2,710, according to analysts citi

MarketDec. 28, 2021

Korea Shipbuilding wins W583b frigate order from Philippines

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Tuesday it has received a 583 billion won ($490 million) order to build two patrol frigates for the Philippines. KSOE is the shipbuilding subholding company of Hyundai Heavy Industries Group, the world's biggest shipbuilder by orders. Under the deal signed with the Southeast Asian country's defense ministry, KSOE's main affiliate Hyundai Heavy Industries Co. will build two 3,100-ton patrol frigates for the country by 2025, the compa

IndustryDec. 28, 2021

Seoul shares end higher on foreign, institutional buying

Seoul shares closed higher on Tuesday as foreign and institutional investors scooped up market heavyweights following overnight US gains. The local currency fell against the US dollar. After a choppy session, the benchmark Korea Composite Stock Price Index (Kospi) went up 20.69 points, or 0.69 percent, to 3,020.24 points. Trading volume was moderate at about 593 million shares worth some 11.9 trillion won ($10.1 billion), with gainers outnumbering losers 524 to 333. Individuals sold a net 1.9

MarketDec. 28, 2021

[Best Brand] GC Pharma rolls out new high-content multivitamin

GC Pharma has recently launched a new high-content multivitamin called B-max Meta B. B-max Meta B contains 30 milligrams of bisbentiamine that passes through the blood brain barrier to help the human brain’s metabolism, the company said. The product also has high amounts of vitamin B12, vitamin D, magnesium and zinc to aid people in controlling their health, it added. The new supplementary multivitamin is the latest addition to CG Pharma’s B-max series, which began rolling out in

IndustryDec. 28, 2021

[Best Brand] Coway’s new induction cooktop in high demand

Home appliances company Coway said its new induction cooktop is enjoying high demand thanks to its auto cooking function, as more consumers are choosing to cook at home rather than eat out amid the pandemic. The auto cooking function of Coway’s Noble Induction Freedom, launched in November, saves the trouble of watching and controlling the heat for pots and pans to keep the contents from burning or boiling over. When cooking rice in a pressure cooker, for example, the cooktop automatic

ConsumerDec. 28, 2021

[Best Brand] aT, driver behind kimchi exports

Korea Agro-Fisheries & Food Trade Corporation (aT) has been at the center of promoting kimchi overseas, expanding the fermented dish’s presence in the United States and increasing its global exports. Located in Naju, South Jeolla Province, the state-owned company overlooks the distribution and transaction of all agricultural goods produced in Korea. One of its recent efforts is promoting kimchi in the United States and abroad. The firm has been particularly upping its activities i

ConsumerDec. 28, 2021

[Best Brand] Lotte Card offers best payback deals for millennials, Gen Z

Lotte Card recently launched a new credit card series that aims to offer best deals for shopping, dining out and more for millennials and Gen Z customers. The four cards under its so-called Loca Likit series – Loca Likit 1.2, Loca Likit Eat, Loca Likit Play and Loka Likit Shop – offers its users different discounts and cost-effective options for the shops they want. Loca Likit 1.2 pays 1.2 percent cash back on dining, cafe and food delivery apps and 1.5 percent back discount on o

MarketDec. 28, 2021

[Best Brand] Dunamu puts investor protection first

Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit, is putting priority on protecting investors in the fast-growing crypto market by correcting deposit errors and strengthening its security systems. The blockchain company has recently returned 154 billion won ($130 million) to investors who had mistakenly deposited money into other people’s blockchain wallets. Since 2017, there have been 32,770 cases of deposit errors and Dunamu has managed to correct 96.6 perce

TechnologyDec. 28, 2021

S. Korea to double electric, hydrogen cars in 2022 in net zero emission drive

South Korea plans to double the number of electric and hydrogen vehicles on its roads next year as part of efforts to achieve its goal of net zero carbon emission by 2050. The government will seek to bring up the number of electric and hydrogen cars in use to about 500,000 in 2022, from the current level of about 248,000 units, the environment and four other ministries said in their joint announcement of policy plans for next year. Under the plans, the numbers of electric cars will rise by 200

TechnologyDec. 28, 2021

[Best Brand] Samsung Biologics rises as global supply chain for COVID-19 vaccines

Samsung Biologics, the major biopharmaceutical unit of Korea’s Samsung Group, has become a global manufacturing hub for COVID-19 vaccines and drugs, joining forces with global drugmakers to curb the widespread pandemic. In the last two years, the pharmaceutical giant has landed contracts with five companies -- Eli Lilly, AstraZeneca, Moderna, GreenLight Biosciences and GlaxoSmithKline -- to manufacture their COVID-19 vaccines and drugs. On Dec. 14, the company expanded its earlier deal

IndustryDec. 28, 2021

Posco gives up hydrogen fuel cell opportunities in Asia

Posco Energy, a subsidiary of South Korean steel giant Posco, surrendered its exclusive rights to market, manufacture and service FuelCell Energy’s advanced hydrogen fuel cells in Asia. In a statement announced Tuesday, the two firms reached a settlement to end a license dispute that had begun in 2015. As a result, Posco will relinquish its exclusive rights to the Connecticut-based firm’s molten carbonate fuel cells, or MCFCs, in Asia. Though Posco will no longer be able to manufa

IndustryDec. 28, 2021

[Best Brand] Forever Living Products offers top quality aloe products

Since its market entry to South Korea in 1988, Forever Living Products, the US aloe product manufacturer, has been offering high quality aloe products ranging from cosmetics to dietary supplements to Korean customers.  “Aloe can be a great source of enhancing one’s immune system, especially at this time when COVID-19 pandemic is ongoing. It is highly recommended to take care of one’s immune system and skin health with Forever Aloe Gel which has been certified by IASC,&rd

IndustryDec. 28, 2021