Most Popular
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korean language teaching expert says demand has outstripped supply
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Conscripting women to lead to 'more babies,' claims military think tank
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Who is pollster roiling politics with claims of government string-pulling?
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Taking away phones during school hours not a human rights violation: watchdog
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Korea launches antidumping probe into Chinese steel
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[Grace Kao] Why K-pop lip-syncing doesn’t bother me
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Hyundai, Kia's Aug. US sales rise 18% despite chip shortage
Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales in the United States rose 18 percent last month from a year earlier despite the prolonged global chip shortage. Hyundai and Kia sold 130,424 vehicles in the world's most important automobile market in August, up from 110,209 units a year ago, according to the companies' sales data. Hyundai's sales climbed 14 percent to 64,335 units last month from 56,200 a year ago, while Kia's jumped 22 percent to
Sept. 2, 2022
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LG Innotek updates website as part of digital marketing scheme
Electronic components manufacturer LG Innotek said Thursday it has restructured its website to improve consumer experience and to maximize customer satisfaction. Visitors to the website can experience diverse contents ranging from technology, products, and recruitment information. Customers can subscribe to the company newsletter and may leave any questions they have about the company and its products. The most notable addition, according to the company, is the website’s new virtual show
Sept. 1, 2022
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Posco, India’s Greenko to work together on hydrogen business
Posco Holdings said Thursday that it has clinched a deal with India’s second-largest renewable energy company Greenko to cooperate in green hydrogen and ammonia production in India, as part of the steelmaker’s push toward eco-friendly energy business. Green hydrogen refers to hydrogen generated by renewable energy or from low-carbon power. It has significantly lower carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas. Green ammonia, a clean fuel
Sept. 1, 2022
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SK ecoplant invests $50m in US battery recycling firm
SK ecoplant, the engineering and construction unit under SK Group, said Thursday that it has clinched a $50 million deal to become the largest shareholder of US battery materials recycling firm Ascend Elements. The latest share purchase is part of SK ecoplant’s investments to foray into North American and European markets, according to the company. Established in 2015 in Massachusetts, Ascend Elements is a manufacturer of advanced battery materials using elements reclaimed from discarde
Sept. 1, 2022
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[Newsmaker] New jobs for tycoons’ Samsung, SK chiefs to promote Busan Expo
South Korea’s two most influential business leaders -- Samsung Electronics Vice Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won -- are set to take a rather public role in promoting the country’s bid to host the 2030 World Expo in Busan. According to local reports quoting a source at the presidential office, Lee and Chey will be named presidential envoys for Korea’s World Expo bid and that they are set to visit the UK and Japan, respectively, in their new roles. Lee
Sept. 1, 2022
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Samsung heir Lee Jae-yong to serve as presidential envoy for World Expo bid
Samsung Electronics Vice Chairman Lee Jae-yong will serve as a presidential envoy for South Korea's bid to host the 2030 World Expo in Busan, a presidential official said Thursday. Lee has been cited as among the top business executives joining the government's campaign to bring the event to the southeastern city. "Regarding Samsung Electronics Vice Chairman Lee Jae-yong, I heard that we decided to send him as a special envoy for the hosting of the expo in Busan," the officia
Sept. 1, 2022
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Samsung, SK group leaders likely to visit Britain, Japan to promote Busan World Expo bid
Top executives of the Samsung and SK groups are expected to visit Britain and Japan this month to promote South Korea's bid to host the 2030 World Expo in the southern city of Busan, sources said Thursday. Samsung Electronics Vice Chairman Lee Jae-yong is reportedly planning to visit Britain later this month after the appointment of Britain's new prime minister. SK Group Chairman Chey Tae-won is expected to visit Japan this month also as part of the government's World Expo bid cam
Sept. 1, 2022
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Korea calls on US to cooperate in resolving conflict on EVs
SEJONG -- South Korea’s Industry Minister Lee Chang-yang called for the US to take a cooperative stance on resolving the backlash from the local automobiles industry over the US Inflation Reduction Act, which is targeted to scale back subsidies to electric vehicles not assembled on American soil. Lee delivered the nation’s position during his meeting with US Ambassador to Korea Philip Goldberg in Seoul on Wednesday. He said worries among local carmakers as well as the Korean governm
Aug. 31, 2022
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Industrial giants boast hydrogen tech at H2 Meet
The world’s largest exhibition exploring the potential of hydrogen in the field of mobility kicked off in Korea on Wednesday, bringing industrial giants from in and out of the country with their latest technological achievements. H2 Mobility Energy Environment Technology, or H2 Meet in short, is the world’s only hydrogen industry exhibition. It was organized to bolster the country’s technological innovation in the hydrogen sector ranging from the energy’s production, stor
Aug. 31, 2022
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K-water inaugurates Chungju Dam's third floating solar power plant
South Korea’s state-funded Korea Water Resources Corp. hosted Wednesday a ceremony marking the completion of Chungju Dam’s third floating photovoltaic power plant at Chungju Lake located in the North Chungcheong Province. Floating photovoltaic power plants are installed on buoys that float on bodies of water. They inflict less damage to the surrounding environment, and the water acts as a natural coolant, increasing solar panel efficiency by 10 percent, according to experts. The Ch
Aug. 31, 2022
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[Herald Design Forum 2022] EVs offers opportunity for car design innovation, says Ian Callum
Ian Callum, a British car designer who led design team of Jaguar Land Rover until recently, believes that electric vehicles open up more flexibility for designers. “Many electric cars still have a conventional look currently. But they don’t need to. Again, it is down to the designers to create this difference. Being electric is not a hindrance but an opportunity, as long as the company’s management and directors allow this freedom,” said Callum in an email interview wit
Aug. 31, 2022
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Hyundai E&C opens Hillstate Wonju Restige apartment sales
Hyundai Engineering & Construction said Wednesday it has opened a model house to initiate sales of its Hillstate Wonju Restige apartment. Located in Wonju, Gangwon Province, the apartment complex consists of 976 households, ranging in size from 84 square meters to 136 square meters. After receiving applicants between Sept. 5 and 7, the company will announce the selected residents on Sep. 15. The move-in date is scheduled for some time in January 2025. Hyundai E&C said since the apartment com
Aug. 31, 2022
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GS E&C develops bioethanol using cassava
GS Engineering and Construction said it has joined hands with a Finnish energy company to produce bioethanol using cassava peels waste in Thailand. Cassava is a nutty tasting, starchy root vegetable that looks like sweet potatoes and is grown in tropical regions. Huh Yoon-hong, president of GS E&C’s new businesses unit, and Patrick Pitkanen, director of St1 Renewable Energy (Thailand) Ltd, signed a memorandum of understanding on Monday in Bangkok on technological cooperation to produce b
Aug. 31, 2022
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Hyundai Oilbank accelerates next-generation energy development
Hyundai Heavy Industries Group’s refining affiliate Hyundai Oilbank said it has been bolstering efforts in developing next-generation energy, it said in a statement Wednesday. The refiner said it has been constructing a biodiesel production plant with an annual production capacity of 130,000 metric tons in Seosan, South Chungcheong Province, since last year, as part of its “White Bio” project. The plant is expected to be completed by 2023. White bio refers to carbon reduction
Aug. 31, 2022
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Number of startups drops 4.7% in H1
The number of startups in South Korea fell nearly 5 percent in the first half of the year due mainly to a plunge in new real estate businesses, government data showed Wednesday. A total of 696,000 new companies were set up in the country in the January-June period, down 4.7 percent from a year earlier, according to the data from the Ministry of Small and Medium-sized Enterprises and Startups. The number of newly established real estate companies sank 18.9 percent on-year, with that of hospitalit
Aug. 31, 2022
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FSS chief stresses fair competition in fintech
South Korea’s top financial watchdog said Tuesday it is seeking to support fair competition between fintech firms like Naver and Kakao. “Our hope is that all these companies meeting with us today help to cultivate a fair and transparent environment,” Gov. Lee Bok-hyun of the Financial Supervisory Service said at a meeting with the chief executives at the local tech firms. Lee and the companies discussed whether commissions that the internet platforms collect from sellers usin
Aug. 30, 2022
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SK’s investment arm to buy back shares worth W200b
SK Inc., the holding company of South Korea’s second-largest conglomerate SK Group, said it plans to buy back 200 billion won ($148 million) of its own shares, which is equivalent to some 1 percent of the market cap, the firm said Tuesday. The firm’s board of directors on Aug. 30 approved the share repurchase to enhance shareholders’ value. It marks the first step to implement the shareholders return policy and strengthen the market confidence, according to the firm. The buyb
Aug. 30, 2022
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Pay gap among companies returns to pre-pandemic level: data
While the pay gap between large conglomerates and small- and medium-sized firms here may have been narrowing during the pandemic years, the disparity appears to have returned to the pre-pandemic level more recently, a report showed Tuesday. According to a report released by the Korea Chamber of Commerce and Industry, the average wage at SMEs with less than 300 employees remained at 60.78 percent that of larger companies with 300 employees or above in 2019. The disparity inched up to 63.29 per
Aug. 30, 2022
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SK, Naver chiefs meet on metaverse cooperation
SK Group Chairman Chey Tae-won recently discussed metaverse cooperation with Naver CEO Choi Soo-yeon in bidding efforts to host the World Expo 2030 in Busan, according to industry sources Tuesday. Chey visited Naver’s recently-built headquarters 1784 in Pangyo, Gyeonggi Province, to meet the IT giant’s leader last month. The exact date of his visit was undisclosed as the visit and the meeting took unexpectedly, SK and Naver officials said. Chey who doubles as chairman of the Korea
Aug. 30, 2022
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LG Chem to expand CNT production on upbeat battery demand
South Korean chemical company LG Chem said Tuesday it is building its fourth carbon nanotube manufacturing plant to bolster its responsiveness to the rapidly growing demand globally, especially for electric vehicle batteries. Carbon nanotube, widely called CNT, is considered a next-generation material that offers equivalent level of electricity and thermal conductivity as copper and diamond, and has 100 times the strength of steel. Demand for the material has surged recently as it is used as con
Aug. 30, 2022