Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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Foreign investment pledges shrink 11% in 2020
Foreigners’ investment pledges to South Korea dropped 11.1 percent last year due to the effects of the coronavirus outbreak, government data showed Tuesday. According to the Ministry of Industry, Trade and Energy, foreigners pledged investments worth $20.75 billion in 2020, down from $23.33 billion a year ago. Of the investment pledges, the amount executed came in at $11.09 billion, a 17 percent dive on-year from $13.36 billion. “Foreign direct investment decreased significan
Jan. 12, 2021
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Game companies break out of shells to seek future growth
South Korean game companies are making bold strides into the financial sector through partnerships with a group that needs innovation more than anyone else: legacy banks. Game companies, though quick to adopt latest technologies such as artificial intelligence, lack a testing ground to train and advance their innovations beyond the virtual spaces inside games. Legacy banks, on the other hand, has tons of quality data and a massive client base, but fall short of digital tools to digest and
Jan. 12, 2021
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LG-GM EV battery JV to hire 1,100 employees by 2022
Ultium Cells, the electric vehicle battery joint venture between LG Energy Solution and General Motors, will hire 400 employees by the end of this year and 700 more by the end of next year, LG and GM said Tuesday. Founded in December 2019, the fledgling Ultium Cells currently has staff for human resources, training and workplace safety management. It is building a $2.3 billion facility in Lordstown, Ohio, with an annual production capacity of more than 30 gigawatt-hours. “Ultium Cells
Jan. 12, 2021
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Hanwha Techwin wins security system supply deal in Egypt
Hanwha Techwin Co., a surveillance tech firm in South Korea, said Tuesday it has signed a deal with the Egyptian government to supply security solutions for its state-run projects. Under the deal with the Ministry of Military Production in Egypt, the company will set up security systems in some 10 cities, which includes surveillance camera installments in major facilities. The value of the deal was not disclosed. Hanwha Techwin said some of its products will be manufactured by Egyptian electro
Jan. 12, 2021
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Google's cloud gaming service to be available on LG's smart TVs
LG Electronics Inc. on Tuesday said Google's cloud gaming service will be available on its smart TVs as the South Korean tech powerhouse eyes to expand its TV sales with better service offerings. LG said it will be the first TV manufacturer to support Google's Stadia via its smart TV platform webOS. The company expects the new service to be launched on its smart TVs in the second half of 2021. "Supporting Stadia on LG TVs is our commitment to customers that gaming is an increasingly impor
Jan. 12, 2021
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Hyundai's Avante compact named North American Car of the Year
South Korea's Hyundai Motor Co. said Tuesday its Avante compact has been named this year's North American Car of the Year in the passenger car segment. The Avante, the Genesis G80 sedan and the Nissan Sentra sedan advanced to the finalists for the 2021 North American Car of the Year, Utility of the Year and Truck of the Year (NACTOY). NACTOY chose the Avante over the two models due to its innovative design and advanced features, such as a digital key and high fuel efficiency, Hyundai said in a
Jan. 12, 2021
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LG 'well positioned' to become auto solutions leader with Magna JV deal: CEO
LG Electronics Inc. is "well positioned" to become one of the industry's leaders in the area of electric and connected vehicles with its agreement to set up a joint venture with Canadian auto parts maker Magna International Inc., the company's chief executive said. Brian Kwon, the CEO of LG Electronics, appeared at Magna's press conference for the all-digital Consumer Electronics Show (CES) 2021 on Monday (US time) and revealed his hopes for the new joint venture with Magna, which is
Jan. 12, 2021
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LS Electric aims for 10 percent annual growth
LS Electric, a South Korean producer of power solutions, aims to grow 10 percent annually and generate 70 percent of its earnings from overseas, the company said Monday. Unveiling a corporate vision for the next decade, the company’s Chairman Koo Ja-kyun urged executives and employees to act proactively to go beyond its traditional businesses of electricity and automation and transform into a global digital leader. “The company must continue to evolve to find new business oppor
Jan. 11, 2021
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S. Korea hands out 3rd disaster relief funds to small businesses
South Korea will start doling out the third round of disaster relief funds to small businesses hit hard by the COVID-19 pandemic, officials said Monday. Some 2.76 million people are set to receive up to 3 million won ($2,731), depending on the size and nature of the business. The Ministry of SMEs and Startups has sent out text messages to 2.76 business owners, starting 8 a.m., offering guidelines on the subsidy application and timeline. The beneficiary pool comprises some 116,000 businesses
Jan. 11, 2021
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Kia rolls out new version of flaship SUV Mohave
Kia Corp., South Korea’s second-biggest carmaker and affiliate of Hyundai Motor Group, said Monday that it has rolled out the 2021 version of its flagship premium sport utility vehicle Mohave. The renewed vehicle marks the first product launch since the company changed its logo and brand slogan -- from Kia Motors to Kia Corp. in a move to step beyond conventional automaker to comprehensive mobility platform operator. “The 2021 Mohave is noted for a number of newly added user conve
Jan. 11, 2021
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Hanwha launches new collaborative robots to target $1b market
Hanwha has introduced a new line of collaborative robots, making a foray into the fast-growing global collaborative robot market, it said Monday. “The HCR-3A, HCR-5A and HCR-12A models can handle an object weighing 3 kilograms, 5 kilograms and 12 kilograms, respectively, with enhanced designs and compatibility compared to previous models,” the company said in a press release, introducing its three new Hanwha Collaborative Robots with five new functions. Robot AI 3D Vision improv
Jan. 11, 2021
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LG Display vows to make OLEDs mainstream
LG Display will push to ship 7 million to 8 million units of its organic light-emitting diode TV panels this year, aiming to catapult OLEDs into the mainstream global TV market. The Korean display firm on Monday showcased an upgraded OLED technology with a broader panel size spectrum for the Consumer Electronics Show 2021. The company’s high-end OLED panels feature newly developed diodes that emit 20 percent brighter light than previous OLED models. The new technology will first be appl
Jan. 11, 2021
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Korea Shipbuilding wins W288b in orders
Korea Shipbuilding & Offshore Engineering Co. said Monday that it has won a combined 288 billion won ($263 million) in orders from three companies in Liberia, Oceania and Asia. Under the deal with a Liberian company, a 174,000-cubic meter liquefied natural gas (LNG) carrier to be built by Hyundai Samho Heavy Industries Co. will be delivered by the second half of 2023, Korea Shipbuilding said. The deal has an option to build two 174,000-cubic meter LNG carriers and one liquefied petroleum g
Jan. 11, 2021
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Doosan Infracore's excavator sales up 22% on-year in 2020 in China
South Korea's top construction equipment maker Doosan Infracore Co. said Monday that its excavator sales in China rose 22 percent last year from a year earlier on the back of infrastructure investment expansion by the Chinese government. Doosan Infracore sold 18,686 excavators in the country last year, compared with 15,270 units in 2019, which is its highest annual sales since 2011, when it sold about 16,700 units, the company said. Doosan Infracore sold 21,800 excavators in 2010 in China, whi
Jan. 11, 2021
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LG Electronics inks partnership with esports firm Gen.G
LG Electronics Inc. on Monday said it has signed a partnership with the global esports organization Gen.G to better target young consumers amid the pandemic. Under the deal, the two sides agreed to seek various business opportunities in the global esports industry and cooperate in promoting LG UltraGear gaming monitor and notebook products. LG believes the partnership can boost its marketing for the MZ generation, which refers to those born between 1980 and the early 2000s as a combination of
Jan. 11, 2021
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Hyundai halts plant in S. Korea on coronavirus case
Hyundai Motor Co. said it halted operations at one of its domestic plants Monday morning as an employee was infected with the new coronavirus. Hyundai Motor suspended its Asan plant, which produces the Sonata and Grandeur sedans, at 6:45 a.m., and the suspension will continue until 3:30 p.m., a company spokesman said over the phone. Hyundai has adjusted production at its local plants since early last year when the coronavirus outbreak began to affect vehicle sales. Last month, Hyundai halted
Jan. 11, 2021
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Samsung SDI to reinforce safety for defective battery cells
Samsung SDI is charting a hard course to ward off battery defects, holding a symbolic ceremony to put an end to faulty small lithium-ion batteries. According to a source familiar with the matter, the South Korean battery producer will hold an internal ceremony this week at its facility in Cheonan, South Chungcheong Province, under the resolute will of CEO Jun Young-hyun to eradicate any lax attitude toward potential fire hazards stemming from faulty batteries. Included will be a kind of vow by
Jan. 10, 2021
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Samsung Display to ink 1st collective agreement with labor union
The management and labor union of Samsung Display Co. said Sunday that they will sign a collective agreement this week for the first time among the electronic affiliates of Samsung Group, which declared it would scrap its "no labor union" policy last year. A ceremony to sign the agreement will be held at 3 p.m. on Thursday, they said. The labor union launched in February last year as a member of the Federation of Korean Trade Unions (FKTU), one of the two largest local labor umbrella
Jan. 10, 2021
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Hyundai Motor Group pushes for project to reuse waste EV batteries
Hyundai Motor Group, the world's fifth-largest automotive group, said Sunday that it will carry out a pilot project to reuse batteries used for electric vehicles (EVs) at solar power plants. The move follows the Ministry of Trade, Industry and Energy's recent decision to give regulatory exemptions for new business models based on reusing EV batteries. Before, it was difficult for companies to push for such projects as the country has no regulations related to the reuse of worn-out EV batteries.
Jan. 10, 2021
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[Eye Plus] Gapyeong’s garden of fantastic lights
At Garden of Morning Calm, an arboretum in Gapyeong, Gyeonggi Province, once the trees shed their leaves and their botanical splendor fades, bright lights fill the conservatory for the “Starlight Garden Festival.” Every year between December and March, ecofriendly light-emitting diode bulbs are placed throughout the 330,000 square-meter garden using the trees as a canvas. The result is a massive garden lit with fluorescent colors, with giant illuminated sculptures
Jan. 9, 2021