Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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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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Netflix, streaming platforms come under fire for loose ratings
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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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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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Tycoons to push for launch of CEO-level hydrogen coalition
Leaders of four South Korean conglomerates -- Hyundai Motor, SK, Posco and Hyosung -- have agreed to launch a CEO-level consultation body for the local hydrogen economy. According to officials from the business groups on Thursday, Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won, Posco Group Chairman Choi Jeong-woo and Hyosung Group Chairman Cho Hyun-joon met at a Hyundai Motor’s research and development center early Thursday morning, where they agreed to forge
June 10, 2021
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SsangYong Motor to send off half of workforce on unpaid leave
South Korea’s financially ailing carmaker SsangYong Motor set to sending its factory workers on rotating unpaid leave for up to two years, in a desperate move to save costs and minimize layoffs under a new buyer. The company and labor union are under talks to shape up the detailed action plan, following the unionists’ recent consent to having half of the workforce on rotating unpaid leave, officials said Thursday. The plausible scenario is to divide the workers according to their
June 10, 2021
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[#WeFACE] RE100, Orsted, Amorepacific chiefs say green transition is a matter of will
For 221 of the world’s major companies to source 100 percent of electricity from renewable sources by 2030, they’ll have to spend $98 billion. But make no mistake. These members of Renewable Energy 100 -- a global initiative to use electricity generated exclusively from renewable energy -- are not burning their cash just for the greater good of saving the Earth. They’re doing this for their own good, Sam Kimmins, head of the Climate Group’s RE100 campaign, said at th
June 10, 2021
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[Exclusive] Hyundai Motor prepares ‘hydrogen’ robot taxi business in S. Korea
Hyundai Motor Group is developing a hydrogen robot taxi with the aim of launching a commercial service within the next few years. According to the nation’s top automaker, the self-driving taxi will be based on the Nexo, the company’s hydrogen fuel cell-powered SUV. “The hydrogen robot taxi is currently in the design stage. The exterior currently has cameras and sensors protruding from it, so we’re working on it. The model will be ready for mass production in one to tw
June 10, 2021
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Hyundai halts some assembly lines in S. Korea on parts shortage
Hyundai Motor Co. said Thursday it has suspended some assembly lines of its mainstay plants here due to parts supply disruptions following COVID-19 infections at a key parts supplier. Hyundai Motor suspended four out of five plants in Ulsan, 414 kilometers southeast of Seoul, on Thursday afternoon due to lack of auto components from Hyundai Mobis Co., a company spokesman said over the phone. "Several Hyundai Mobis workers were infected with COVID-19, and disrupted supplies of cockpit modu
June 10, 2021
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[Exclusive] Hanhwa eyes flying car booking service with No.1 local ride-hailing app
Hanwha Systems is seeking partnership deals with ride-hailing apps, including the industry’s biggest Kakao T, to include flying taxis on the platforms, the company said Thursday. Hanwha Systems, a defense business unit of South Korea Hanwha Group, is racing to debut a flying car by 2024 and Kakao T is one of multiple ground mobility platforms being considered as a reservation service partner. Kakao T, operated by Kakao Mobility, is South Korea’s most popular taxi hailing platfor
June 10, 2021
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No. of holding companies down in Q4
The number of holding companies in South Korea declined in the fourth quarter despite the government's efforts to encourage firms to have a more transparent governance structure, the corporate watchdog said Thursday. The Korea Fair Trade Commission said a total of 164 holding companies were registered with the antitrust regulator as of end-December last year, down from 167 three months earlier. The registered holding companies consist of 154 general holding firms and 10 financial ones. The fa
June 10, 2021
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S. Korea regains No. 1 spot in May shipbuilding orders
South Korean shipbuilders outpaced their Chinese rivals to regain the top spot in global new orders of ships in May, industry data showed Thursday. South Korea lost their No. 1 ranking to China in April, nine months after grabbing the top ranking in July 2020. South Korean shipbuilders led by Hyundai Heavy Industries Co. obtained new orders of 40 ships, or 1.42 million compensated gross tons (CGTs), beating their Chinese rivals with 37 ships, or 880,000 CGTs, according to the order book data p
June 10, 2021
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Telcos to show off mobility projects at expo
South Korean telecom operators will feature new mobility technology, from flying cars to autonomous vehicles, at the Seoul Smart Mobility Expo 2021, which kicked off at the Oil Tank Culture Park in western Seoul on Thursday. SK Telecom said it will unveil the latest developments of its unmanned aerial mobility (UAM) service project in partnership with local defense company Hanwha Systems Co., Korea Airports Corp. and the Korea Transport Institute at the three-day event. The wireless carrier sa
June 10, 2021
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Samsung releases industry's first 0.64-micrometer pixel image sensor
Samsung Electronics Co. on Thursday introduced a new mobile image sensor, the industry's smallest pixel size, as the South Korean tech giant eyes to beef up its presence in the non-memory sector. The 50-million megapixel ISOCELL JN1 is the industry's first 0.64-micrometer pixel image sensor that can deliver ultra-high resolution images and allow manufacturers to make slim mobile devices, according to Samsung. Its pixel size is 16 percent smaller than that of a 0.7-micrometer pixel image sensor
June 10, 2021
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LG Electronics unveils mobile app for pedestrian safety
LG Electronics Inc. on Thursday unveiled a mobile application for pedestrian safety as the South Korean tech giant eyes to beef up its presence in the software sector despite its planned departure from the smartphone business. The Soft V2X, with V2X standing for "vehicle to everything," is LG's smartphone solution for pedestrian protection. The app can warn users of collision risks between pedestrians and vehicles, as well as possible car-to-car crashes, to prevent road accidents. Th
June 10, 2021
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SK Telecom to conduct spinoff in November, split its stock 5 to 1
SK Telecom Co., South Korea's top wireless carrier, decided Thursday to spin off a new investment company in November to expand its foothold in new tech sectors, as well as conduct a 5-for-1 stock split aimed at improving shareholder value. The wireless carrier's board of directors approved the spinoff plan, and the new company, tentatively named SKT Investment Co., will be split on Nov. 1, according to a company regulatory filing. Under the spinoff, SK Telecom's shares will be divided 6-for-4
June 10, 2021
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S. Korean businesses dissent expansion of ‘Google tax’
South Korea’s business circles have submitted a petition to the Organization for Economic Cooperation and Development expressing concerns over the global move to expand the range and rate of digital services tax. The Federation of Korean Industries said Wednesday that it has submitted a joint statement on behalf of industries here, addressing OECD Secretary-General Mathias Cormann. “The move to excessively expand the range of digital services tax and to raise its tax rate would con
June 9, 2021
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Hyundai Motor chief wins top accolade at 2021 Autocar Awards
Hyundai Motor Group Chairman Chung Euisun has won the top prize at the 2021 Autocar Awards for his contribution to the global car industry, the company said Wednesday. The Issigonis Trophy, named after car designer Sir Alec Issigonis, is the award given to a standout individual within the industry who is deemed to have delivered an exceptional level of success. “In the last decade, Hyundai Motor Group has grown into one of the world’s leading car firms, and Chairman Chung has be
June 9, 2021
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SK Innovation mulls developing new cylindrical and prismatic battery cells
SK Innovation said Wednesday that it was considering producing new kinds of electric vehicle batteries, including cylindrical and prismatic battery cells, to expand its customer base. At South Korea’s biggest battery expo, Inter Battery, held at Coex in Seoul this week, SK Innovation battery chief Jee Dong-seob confirmed that the company was preparing to diversify its product portfolio, which currently consists only of pouch-type cells. “We are reviewing the development of cyli
June 9, 2021
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Kakao’s Kim Beom-su sets up foundation to make social impact
Kim Beom-su, the founder of mobile messenger firm Kakao, has established a charity foundation aimed at making positive social impact, Kakao said Wednesday. The Brian Impact foundation, named after Kim’s English name, aims to support businesses that seek to provide solutions to social problems, expand employment opportunities through research and development projects or engage in business related to future-leading technologies, such as artificial intelligence. “The purpose of Brian
June 9, 2021
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Samsung Heavy to develop small module reactor-powered ship
Samsung Heavy Industries Co. said Wednesday that it has teamed up with a local nuclear research institute to develop nuclear-powered ships. Under the cooperation with the Korea Atomic Energy Research Institute (KAERI), Samsung Heavy plans to develop molten salt reactors, a kind of small module reactor using molten fluoride salts as the primary coolant, at low pressure, which have been emerging as a carbon-zero nuclear energy source. Samsung Heavy will tap into the market of floating nuclear po
June 9, 2021
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LS Cable & System bets on advanced wires for electric vehicles
LS Cable & System aims to expand its footprint in the global electric vehicle components market, with high-voltage and lightweight aluminum wires, the company said Wednesday. According to the cable manufacturing unit of South Korea’s LS Group, the firm is exclusively supplying enamel wires for Hyundai Motor’s first electric vehicle, the Ioniq 5. Coated with advanced insulation material, the wires can cope with up to 800 volts, allowing rapid charging of the vehicle. The Anyang,
June 9, 2021
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Samsung develops 8nm RF chip process tech
Samsung Electronics Co. said Wednesday it has developed an 8-nanometer (nm) process technology for radio frequency (RF) chips as the South Korean tech giant eyes to beef up its foundry service for 5G mobile semiconductors. Samsung said its 8nm foundry will deliver 5G single-chip RF solutions supporting sub-6-gigahertz to millimeter wave spectrum. A RF integrated circuit is a semiconductor used for radio frequency signal receiving or transmission and analog-digital conversion in connection with
June 9, 2021
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SK Gas to build hydrogen production complex in Ulsan
SK Gas aims to build a hydrogen value chain complex in Ulsan by 2025, encompassing raw material sourcing, production, storage and distribution. At the envisioned complex which will sit on a 140,000-square-meter plot of land, the company plans to build facilities for hydrogen extraction as well as liquid hydrogen storage and distribution. SK Gas plans to utilize the company’s existing supply channels of liquefied natural gas and liquefied petroleum gas to extract hydrogen from. The com
June 9, 2021