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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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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Man killed by fellow hunter who mistook him for wild boar
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Samsung keeps 2nd spot in smartphone image sensor market in 2020: report
Samsung Electronics Co. maintained the status as the world's second-largest vendor of mobile image sensors last year, a report showed Wednesday, as the South Korean tech giant strives to catch up to the industry leader Sony Corp. In terms of revenue, Samsung, which produces image sensors under the ISOCELL brand, had a share of 29 percent in the complementary metal oxide semiconductor (CMOS) image sensor market in 2020, according to market researcher Strategy Analytics. Samsung, also the world'
March 24, 2021
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LG Chem launches door-to-door plastic retrieval service
LG Chem said Tuesday it is working with a local start-up to launch a door-to-door plastic retrieval service. South Korea’s leading petrochemical company signed an agreement with zero-waste packaging provider Innerbottle to start a service where residents can simply put plastic waste inside a bag outside their doors and let a worker pick them up. “For example, if a customer orders a cosmetic product from a brand that uses Innerbottle’s plastic container, an eco-bag will be s
March 23, 2021
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Hyundai Motor to build its own EV-charging station brand
South Korea’s auto giant Hyundai Motor Group on Tuesday unveiled a plan to build its own high-speed charging infrastructure for electric vehicle models under the new independent brand “E-pit.” Under the new system, electric cars embedded with Hyundai Motor’s exclusive platform may operate for up to 100 kilometers upon a single five-minute charge at E-pit stations. E-pit was inspired by pit stops where motorsports race cars pause for refueling, tire replacement, repairs
March 23, 2021
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[Newsmaker] Kia union fears job cuts over online preorders
Like many global carmakers, Kia Corp. plans to take preorders online for EV6, its first all-electric vehicle built on an exclusive EV platform, slated for release here in July. But its labor union is opposing the idea, sensing a potential threat it poses to the job security of conventional sales staff. “The online preorder system introduced for the upcoming EV6 will infringe on the employment security of the sales workforce,” the Kia branch of the Korean Metal Workers’ Uni
March 23, 2021
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LG Group could face legal action over naming of its new holding company
LG Group’s plan to name its new holding company “LX” faces a setback as another company threatens legal action to stop the move, claiming rights over the name. The state-run Land and Geospatial Informatix Corporation announced Tuesday that it would take legal action against LG Group to prevent the South Korean conglomerate from using its trade name, which it has used for around 10 years. The Land and Geospatial Informatix Corp.’s steering committee met Friday to discu
March 23, 2021
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Why develop in-house game engines?
In the world of games, game engines are the ready-made architecture that developers use to design and run their games. So choosing what game engine to use from a list of readily available options from world-renowned firms is often the first step of game development. Yet, some South Korean game firms are taking a different path, choosing to spend money and resources on building their own game engines. At the forefront is Pearl Abyss, which scored 488.8 billion won ($432.5 million) and 157.3
March 23, 2021
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KAI to launch 4 more midsize satellites by 2025
After the successful launch of South Korea’s next-generation midsize satellite Monday, Korea Aerospace Industries will be in charge of sending a second one into orbit next year, the company said Tuesday. The launch of the midsize satellite No. 1 was led by the Korea Aerospace Research Institute and KAI participated as a co-developer. KAI will lead the launch of satellite No. 2 scheduled for January next year, with the help of technology transfers from the KARI. KAI will be responsible fo
March 23, 2021
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S-Oil upgrades Ulsan plant to curb sulfur and harmful vapor
S-Oil said Tuesday it has completed the upgrade of its Ulsan petrochemical plant to prevent sulfur and harmful vapor from being emitted into the air as part of an effort to accelerate the company’s environmental, social and governance efforts. According to the refinery, it has injected some 73 billion won ($64.9 million) into the expansion of its residue hydro-desulfurization capacity and the construction of a vapor combustion unit. The residue hydro-desulfurization unit, or RHDS unit,
March 23, 2021
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SK Innovation to split-off battery biz: report
SK Innovation will split off its battery unit into a wholly-owned subsidiary, a local media reported Tuesday. According to Herald Business, the Korean-language sister paper of The Korea Herald, SK Group chose a split-off over a spin-off to carve out the battery business, in a CEO meeting held earlier this year. In a spin-off scenario, the envisioned business would have become a subsidiary under SK Group, with SK Holdings and SK Innovation each holding a 33.4 percent stake in it. SK Innovat
March 23, 2021
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S. Korea 3rd-largest chip materials market in 2020: report
South Korea, home to chipmaking giants such as Samsung Electronics Co. and SK hynix Inc., was the world's third-largest market for semiconductor materials in 2020, a report showed Tuesday, moving down one spot from a year earlier after posting an under-par industry average growth. The country's chip materials market grew 3.9 percent on-year to $9.23 billion in 2020, according to the report from SEMI, a global industry association representing companies in the electronics design and manufacturi
March 23, 2021
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Daewoo Shipbuilding resumes Okpo shipyard operation after virus-caused closure
Daewoo Shipbuilding & Marine Engineering Co. said Tuesday that it has resumed the operation of its shipyard one day after its closure due to new coronavirus infections. The shipbuilder suspended work at its shipyard in Okpo, Geoje Island, 398 kilometers south of Seoul, on Monday to conduct virus tests for its employees. Two confirmed cases were reported after virus tests for 2,400 employees. (Yonhap)
March 23, 2021
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Oriental Brewery to raise prices of some beers next month
Oriental Brewery, South Korea's largest brewer, plans to raise prices of some beers next month because of a rise in beer tax, a company official said Monday. The prices of its major beer products, including Cass Fresh and Cass Light, will go up by an average of 1.36 percent from April 1, according to the OB official. Under the new policy, the factory price of a 330-milliliter bottle of Cass Fresh will rise from 845.97 won ($0.75) to 857.90 won. OB, which accounts for about 60 percent of the
March 22, 2021
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HMM deploys 2 new ships to cope with soaring freight rates
South Korea's leading shipper, HMM Co., said Monday it has deployed two additional ships to cope with soaring freight costs amid the new coronavirus pandemic. HMM will operate two additional 16,000 twenty-foot-equivalent unit (TEU) ships, according to the Ministry of Oceans and Fisheries. TEU is a measure used for the capacity of container transportation. The launch came around a month earlier than the original schedule of April. South Korea earlier announced a plan to add eight shipping vess
March 22, 2021
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[Advertorial] LG Energy Solution widens battery ‘super gap’ through technology dominance
LG Energy Solution is widening a “super gap” with its competition based on know-hows accumulated throughout 30 years of battery business. According to South Korea’s leading battery firm, it poured more than 5.3 billion won ($4.6 billion) into research and development over the past decade and secured 23,610 battery patents as a result, which is at least 10 times as many as that of a leading Chinese battery player as of last year. Equipped with more than 2,500 R&D perso
March 22, 2021
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Hanwha secures Korea’s first mixed hydrogen combustion tech
Hanwha General Chemical said Monday that it had become the first South Korean company to own mixed hydrogen combustion technologies. Mixed hydrogen combustion burns natural gas together with hydrogen to generate electricity. This method of generating electricity can cut carbon emissions by more than 30 percent, according to Hanwha Group’s chemicals unit, and can significantly reduce nitrogen oxide emissions, which cause fine dust issues. “Hanwha General Chemical acquired a 100
March 22, 2021
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European firms ‘optimistic’ about doing business in Korea: survey
European companies operating here are generally optimistic over Seoul’s growing importance as business venue but also pointed out the rigid regulatory environment, the European Chamber of Commerce in Korea said Monday. According to the Business Confidence Survey 2020, 51 percent of respondents said that South Korea’s strategic importance is increasing, while 41 percent replied that its importance remains the same as before. A year earlier, only 34 percent recognized the country&rsq
March 22, 2021
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Mando clinches suspension parts supply deal with Volkswagen
South Korean auto parts maker Mando said Monday that it had signed a strategic partnership deal with German automaker Volkswagen to provide some 50 suspension units. It is the single-largest order that Mando has received for the given product category. Starting June next year until 2033, the Korean company will manufacture and supply the parts directly in Europe, with an anticipated annual production capacity of 6 million units. Connecting a vehicle to its wheels, suspension units -- typica
March 22, 2021
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Samsung launches customizable water purifier in S. Korea
Samsung Electronics Co. on Monday launched a customizable water purifier in South Korea as the tech giant eyes to expand sales amid the pandemic-induced stay-at-home trend. Samsung said the BESPOKE water purifier, which was first unveiled at the all-digital Consumer Electronics Show 2021 in January, is now available in South Korea at prices between 739,000 won ($650) and 1.299 million won. The overseas launch schedule of the product has yet to be determined, Samsung added. The new water pu
March 22, 2021
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Kepco keeps electricity rate amid virus pandemic
The state-run Korea Electric Power Corp. (KEPCO) on Monday said it has decided to maintain the current electricity rate for the second quarter despite increased fuel costs, in line with the country's efforts to ease the burden on the public amid the virus pandemic. KEPCO adopted flexible electricity rates linked to global fuel prices this year, in a move to improve its profitability. South Koreans were previously charged under a fixed-rate electricity billing system. Under the current system,
March 22, 2021
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GS Energy to build LNG-powered plant in Vietnam
GS Energy Corp., an energy unit of South Korean conglomerate GS Group, said Monday it will build and operate a power plant fired by liquefied natural gas (LNG) in Vietnam. GS Energy said it will build a 3 gigawatt LNG-fired power plant in southern Vietnam in a deal estimated at 3.5 trillion won (US$3 billion). The Korean company said it will sign a power purchase agreement with the state-run Vietnam Electricity Group to begin commercial production in 2027. In 2019, GS Energy signed an initial
March 22, 2021