Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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S. Korea, Singapore seal supply chain agreement
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Netflix, streaming platforms come under fire for loose ratings
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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K-pop CEOs sidestep key issues at National Assembly audit
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Samsung SDI partners up with Stellantis for joint battery factory in US
Samsung SDI has signed an agreement with Stellantis to form a joint venture to build an electric vehicle battery factory in the United States, industry sources said Tuesday. Samsung SDI’s move draws a parallel with LG Energy Solution, which announced a day earlier that it would a create a joint venture with the same global auto group and construct a 40 gigawatt-hour EV battery plant in the US. While details remain unclear, such as the monetary value of the partnership deal, Stellantis
Oct. 19, 2021
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IB Korea launches agave wine-based cocktail
Beer importer The IB Korea said it has begun local sales of an agave wine-based cocktail named Uptown Margarita, a brand of Texas-based distillery and winery Southern Champion. After the 1.5-liter Uptown Margarita showed strong sales, The IB Korea imported the 750-milliliter Uptown Margarita and 750-ml Uptown Pina Colada as well, and plans to begin sales of mini cocktails named BuzzBalls next month. The Uptown Wine Cocktails are currently sold at E-mart, GS25, Lotte Big Market and Mega Mar
Oct. 19, 2021
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LIG Nex1 showcases satellite navigation, cargo drones
LIG Nex1 is showcasing a range of cutting-edge technologies under development, including large cargo drones powered by hydrogen fuel cells at the Seoul International Aerospace and Defense Exhibition, being held from Tuesday through Saturday. The defense company is also presenting the Korean Positioning System, a local version of the Global Positioning System, at the biennial defense exhibit at Seoul Air Base. The KPS, a 3.72 trillion-won ($3.15 billion) project that wil
Oct. 19, 2021
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Samsung SDS rolls out smart shipping platform for exporters
Samsung SDS, an IT solution provider affiliated with Samsung Group, has rolled out a one-stop freight shipping solution for local exporters. Dubbed Cello Square 4.0, the platform is designed to provide a one-stop solution for freight shipping to small and medium-sized companies that experience difficulty keeping up with complex export and import procedures, as well as to track the cargo’s delivery status. Utilizing the latest digital technologies such as artificial intelligence, the in
Oct. 19, 2021
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LG Chem develops plastic that can replace aluminum, eyes solar panel frame market
LG Chem said Tuesday it has developed a new type of plastic that is as durable as aluminum but 50 percent lighter, with plans to apply the raw material for frames of solar panels and auto components. According to South Korea’s leading chemical company, the new materia -- LUPOY EU5201 -- is designed to withstand long-term exposure to sunlight and exhibits strong resistance to heat and erosion. The material is also able to maintain its original color despite sunlight, as it is resistant to
Oct. 19, 2021
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Korea to build autonomous ship, test it in Ulsan
South Korea will construct an autnomous ship able to carry 300 people by 2022 and operate it in coastal waters off Ulsan to conduct feasibility tests on key technologies. According to the Ministry of Trade, Industry and Energy, the 45 billion-won ($38.1 million) project aims to gain a track record for the 2,800-ton ship and verify core technologies to be mounted on it, such as carbon emission reduction and engine optimization technologies. At the same time, the Industry Ministry will establis
Oct. 19, 2021
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Posco locally develops special steel pipes for hydrogen transportation
South Korean steelmaker Posco has succeeded in locally producing special steel pipes for hydrogen transportation and will supply them for the first time to the city of Ansan, Gyeonggi Province, the company said Tuesday. Until now, South Korea has relied on imported, small-caliber seamless steel pipes with a width about 15 centimeters for hydrogen transportation. Bigger pipes, as wide as 20 centimeters, are needed to carry the big volume of hydrogen transfer needed in the hydrogen test bed ci
Oct. 19, 2021
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Hyundai Glovis partners with Air Products to establish global hydrogen supply chain
Hyundai Glovis, the logistics arm of Hyundai Motor Group, is joining hands with Air Products & Chemicals, a US-based industrial gas manufacturer, to speed up the development of a liquefied hydrogen supply chain, the company said Tuesday. Hyundai Glovis CEO Kim Jung-hoon signed the supply chain agreement during a videoconference with Air Products & Chemicals Asia President Wilbur Mok as well as Korea unit CEO Kim Kyo-young. “We expect a great synergy from the partnership, a
Oct. 19, 2021
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No. of employees in food service segment rebounds amid job recovery
The number of employees in the food service segment rebounded in April from a year earlier as the job market recovered amid the economic recovery, data showed Tuesday. The number of people employed at restaurants and eateries reached 1.6 million in April, 65,000 more than the previous year, according to Statistics Korea. The tally rebounded from October 2020 when the number of such workers fell 179,000, marking a record on-year fall. Still, the total number of workers in the food service segm
Oct. 19, 2021
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CJ ENM in talks for taking over SM Entertainment: source
CJ ENM, a leading entertainment and media company, is in talks to bring K-pop powerhouse SM Entertainment under its control, a source with direct knowledge of the talks has said. The deal, if realized, would see the birth of an entertainment giant that could shake the Korean pop cultural scene. SM, one of the country's top K-pop agencies, manages such idol groups as EXO, Red Velvet, NCT and aespa that have a large following abroad. "It is true that CJ is in some kind of talks with SM in
Oct. 19, 2021
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SK E&S funds W500b for US affiliate to invest in US energy firm
SK E&S Co., the natural gas provider under SK Group, said Monday it will invest some 500 billion won ($421 million) in its US affiliate, SK E&S Americas, to buy a stake in a US renewable energy firm. In a regulatory filing, SK E&S said it will buy 505 billion won worth of shares in SK E&S Americas, in a bid to invest up to $400 million in Rev Renewable. Rev Renewable is focused on the development and operation of energy storage, as well as renewable projects. Rev Renewable, an
Oct. 18, 2021
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GS Energy to import ADNOC’s blue hydrogen to South Korea
GS Energy said Monday it will bring blue hydrogen produced by Abu Dhabi National Oil Co., the United Arab Emirates’ biggest energy producer, to South Korea as part of its environmental, social and governance efforts towards creating a hydrogen economy. According to the energy unit of South Korean conglomerate GS Group, the blue hydrogen will be extracted from natural gas in Abu Dhabi and brought to Korea in the form of ammonia. GS Energy will then use the ammonia as a fuel to generate ele
Oct. 18, 2021
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LG Energy Solution, Stellantis team up for joint battery factory in US
LG Energy Solution and global automaker Stellantis said Monday they will form a joint venture in the United States to target the fast-growing North American electric vehicle market. The partnership will break ground on a new EV battery manufacturing facility in the second quarter next year. Scheduled for commercial operation by the first quarter of 2024, the new factory is to churn out 40 gigawatt-hours of EV batteries annually. “The name and the location of the joint venture haven&rsq
Oct. 18, 2021
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247,000 self-employed people lost job in past year: report
Some 247,000 sole proprietors have lost jobs amid prolonged social distancing regulations in the wake of the COVID-19 pandemic, data showed Monday. According to Yonhap News Agency’s analysis, 247,000 people who were self-employed in mid-September last year lost their jobs and fell into the category of the unemployed and economically inactive within the past 12 months. The report defines unemployed as those who are able and willing to work and who have been in search of a job but unable
Oct. 18, 2021
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Korea Shipbuilding grabs W416b order for 2 container carriers
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has signed a 416 billion-won ($350.4 million) deal to build two container carriers. Under the deal with a shipping company in the Marshall Islands, Hyundai Samho Heavy Industries Co. will build the vessels and deliver them by April 2024, the shipbuilding holding company said in a regulatory filing. KSOE, the subholding company of Hyundai Heavy Industries Holdings Co. (HHIH), has three shipbuilders -- Hyundai Heavy Industries
Oct. 18, 2021
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Samsung Heavy wins $1.7b order for 7 shuttle tankers
Samsung Heavy Industries Co. said Monday that it has signed a $1.7 billion order to provide design, parts and blocks for seven shuttle tankers. Under the deal with a company in Eurasia, Samsung Heavy Industries will supply design, parts and blocks for the vessels by January, 2027, the company said in a regulatory filing. Shuttle tankers refer to oil tankers plying between offshore oilfields and oil plants on land to transport crude. With the latest order, the shipbuilder has won a combined $1
Oct. 18, 2021
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S. Korea, Sweden to hold forum on joint responses to illegal fishing
Around 100 South Korean and Swedish maritime officials and experts will gather this week for a forum to explore ways to curb illegal fishing, South Korea's oceans ministry said Monday. During the four-day forum set to kick off Tuesday, officials from the governments and major international organizations, such as the International Maritime Organization and the Food and Agricultural Organization, and maritime experts will discuss ways to better implement international agreements on illegal, unrep
Oct. 18, 2021
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S. Korea to actively respond to US info-sharing request on chipmakers: minister
South Korean Finance Minister Hong Nam-ki said Monday the country plans to closely cooperate with local chipmakers to respond to the US' latest request for them to share information on their supply chains. The US Department of Commerce has recently asked global chipmakers, including Samsung Electronics Co., to share information on inventories, demand and other details by Nov. 8 to "help improve trust and transparency within the supply chain." The request spawned concerns about the lea
Oct. 18, 2021
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Major tour agencies forecast to swing to profit in 2022
South Korea's major travel agencies are expected to recover from the prolonged fallout of the COVID-19 pandemic and swing to a profit in 2022 on growing demand for overseas travel, a market tracker said Monday. Local brokerage houses have projected that industry leader HanaTour could register a consolidated operating income of 3.9 billion won ($33 million) in the coming year, a sharp turnaround from an operating loss of 114.9 billion won last year, according to financial information provider Fn
Oct. 18, 2021
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More firms ease virus rules as vaccination speeds up
South Korean companies are ending strict pandemic-era rules and restrictions, resuming overseas trips and in-person meetings, as offices prepare to gradually shift to the “living with COVID-19” phase set to start next month. The move is also in line with rising vaccination rates across the country. According to data from the Korea Disease Control and Prevention Agency, 78.7 percent of the population had completed at least a first dose of a COVID-19 vaccine, while 64.6 perce
Oct. 17, 2021