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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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Taking away phones during school hours not a human rights violation: watchdog
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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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[Photo news] Egg prices to rise
Egg cartons fill the shelves at a hypermarket in Seoul on Wednesday. South Korea-based Maeil Dairies raised the shipping prices of products ranging from eggs to processed milk and flavored milk up to 11 percent amid inflation woes, beginning Wednesday. (Yonhap)
June 1, 2022
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[Newsmaker] Army of service robots rolling in to replace high-cost labor in Korea
Accelerated by soaring labor costs, the reduced number of workers willing to take labor-intensive jobs and pandemic-triggered noncontact services, South Korea has seen a growing number of businesses deploying front-line service robots that have begun replacing humans in performing mundane and routine tasks. Korea’s service robot market will grow to an accumulative 230,000 robots by 2025, worth 2.8 trillion won ($2.25 billion) in value, according to market data compiled by the Inter
June 1, 2022
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Hyundai Oilbank to transition into eco-friendly energy company through new projects
Hyundai Oilbank seeks to become an eco-friendly energy company through two new projects on emission reduction technology that can be applied across the energy system. The Korean oil company said Tuesday it has been working with DL E&C on two carbon capture and utilization projects to produce construction materials such as cement and concrete with desulfurized gypsum and carbon. Hyundai Oilbank is also working with Taekyung Industry, a company responsible for 30 percent of the high purity
May 31, 2022
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Businesses step up push for hydrogen support
The South Korean government should help companies build a hydrogen economy because using the renewable energy ensures growth as businesses race to reduce their carbon footprint, Woo Tae-hee, vice chairman of the Korea Chamber of Commerce and Industry, said Tuesday at a forum on green hydrogen. “I believe it is time for us to turn the climate crisis into an opportunity to secure the hydrogen market and improve our economy with strong commitment and collective wisdom,” Woo said at the
May 31, 2022
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Companies join forces for Busan’s World Expo bid
A business-led civilian committee was launched Tuesday to support Busan’s bid to host the 2030 World Expo, one of the world's biggest international events, in the realm of the World Cup and Olympics. SK Group Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, leads the committee, while top executives of 11 conglomerates are joining to add weight to the bid from South Korea’s second-largest city. The 11 businesses include: Samsung Electron
May 31, 2022
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S. Korea has best EV infrastructure per unit in world: report
South Korea has the most established electric vehicle charging infrastructure per unit in the world, a report by an autonomous intergovernmental organization said Tuesday. The latest findings released in the Global EV Outlook 2022 by the Paris-based International Energy Agency showed that South Korea had 2.6 EVs per charging point last year. A charging point refers to the number of sockets that can charge vehicles at the same time. Among the 20 countries included in the report, South Korea h
May 31, 2022
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[Photo News] Hello Japan
Passengers get ready to depart to Fukuoka, Japan, from Gimhae International Airport near Busan on Tuesday, as the airport opened the route to the Japanese city for the first time since its pandemic closure two years ago. Gimhae became the first regional base gateway in South Korea, outside of Incheon International Airport, to resume passenger flight services to Japan.
May 31, 2022
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LG Chem, China’s Huayou Cobalt set up JV for cathode production
LG Chem said Tuesday it has set up a joint venture with Tianjin B&M Science and Technology, a materials subsidiary of Chinese miner Huayou Cobalt, to secure a stable supply of key materials for high-nickel cathodes in its latest push for electric vehicle batteries. Under the deal signed on Monday in Seoul, B&M is securing a 49 percent stake in LG Chem’s existing cathode-making unit in Gumi, North Gyeongsang Province, supplying essential materials for nickel, cobalt, manganese, an
May 31, 2022
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Hyundai E&C showcases new Hillstate apartment complex in Yangju
Local builder Hyundai Engineering & Construction opened a model house for its new Hillstate Yangju Okjeong Patio Foret housing complex on May 13. Customers can tour the model house until June 12 after making a reservation through Hillstate Patio Foret’s official website. A virtual tour is also available. The new building can accommodate up to 809 households in 84-square-meter block houses. Each three story house was designed to include two parking spaces and an electric vehicle charg
May 31, 2022
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Hyundai Engineering expands nuclear power plant business
Hyundai Engineering (HEC) set up a new division for nuclear power projects as it seeks to develop its own small modular reactors (SMR). What was previously a team has been expanded and elevated to a division, and more nuclear power specialists will join, the company said. In addition to SMRs, Hyundai Engineering plans to produce micro modular reactors and hydrogen; enter new fields such as decommissioning of aging nuclear power plants, nuclear fuel cycle, reactors for research purposes and nuc
May 31, 2022
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Hyundai E&C remediates dioxin-contaminated soil at US Army base in Incheon
Hyundai Engineering & Construction successfully remediated a large amount of dioxin-contaminated soil for the first time in South Korea. According to Hyundai E&C on Monday, the project of remediating 11,031 cubic meters of dioxin-contaminated land at Camp Market -- a US Army installation situated in Bupyeong-gu, Incheon -- was successfully completed after two years and 11 months of work. The company used the in-pile thermal desorption and thermal oxidation cleanup treatment of dioxins
May 30, 2022
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Are ‘Samsung plant,’ ‘Apple branch’ empty promises?
Ahead of Wednesday’s local elections, candidates are making their last-minute plea for votes, with some of them talking big to take advantage of big name companies and their huge investment plans unveiled recently. Politicians offering populist pledges is nothing new during election campaigns, but this year their rhetoric appears to have gained some weight as they come along with a series of new investment plans, worth a combined 1,000 trillion won ($800 billion), announced by the nation
May 30, 2022
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[Photo News] Fresh Monday
Buses are seen operating in central Seoul on Monday. Bus and taxi drivers are eligible for the COVID-19 cash handouts worth 3 million won ($2,400) as part of the government‘s 62 trillion won extra budget bill, which was approved by the parliament on the same day.
May 30, 2022
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Korea to double chip talents
South Korea will double the number of professional semiconductor talents by implementing chip-company-licensed departments and strengthening graduate programs at major science institutes across the country, the Ministry of Science and ICT said Monday. Science Minister Lee Jong-ho met with industry leaders including chiefs of Samsung Electronics and SK hynix as well as presidents of four major science institutes -- KAIST, GIST, DGIST and UNIST -- to discuss ways to cooperate for nurturing semic
May 30, 2022
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Unspent value on prepaid coffee cards, online coupons record W270b—mostly from Starbucks
The South Korean coffee industry has accumulated approximately 270 billion won ($216 million) worth of unspent stored value on prepaid cards and online coupons, said People’s Power Party lawmaker Yun Chang-hyun on Monday, citing a report from the Fair Trade Commission. About 92 percent of the unredeemed balance -- 250 billion won out of the 270 billion won -- came from Starbucks Korea, according to the report. Unspent stored value refers to the balance that is charged on gift cards and
May 30, 2022
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LS seeks new momentum in electrification
As he took office in January, LS Group Chairman Koo Ja-eun vowed an “ambidextrous management” to maximize synergy between existing core businesses and new businesses for the future. “With advanced technology in electricity and materials in one hand, and future technologies such as artificial intelligence, big data and Internet of Things in the other, we will offer solutions of customer-oriented value in a balanced manner,” Koo said. It comes as Koo and Myung Roe-hyun, c
May 30, 2022
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SK Broadband bolsters ESG management
South Korean internet provider SK Broadband has said it will broadcast movies recognized at the 19th Seoul International Eco Film Festival on its internet protocol television platform B tv starting Thursday. The movies screened at the festival will be broadcast exclusively on B tv and Mobile B tv platforms four times a day between June 2 and June 8. SK Broadband has been sponsoring the event for the second year running. SK Broadband has also filmed its own documentary titled “Countdown
May 30, 2022
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Remote work tests S. Korea's corporate hierarchy, culture
Behind South Korea's rapid industrial growth was a military-like corporate culture that united workforces for a shared goal: the company's success and my family‘s well being. The mantra “your company is your family” propelled the tremendous drive toward economic prosperity but also gave validity to tough corporate culture and hierarchy. The decades-old corporate culture, however, is now being forced to change for a new generation of the workforce who finds daily 9-to-6 office h
May 29, 2022
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Collaboration new marketing strategy in Korea’s alcohol industry
Food companies are seeking to cooperate together within the industry to appeal to the younger generation who have become an important consumer demographic. Lotte Chilsung Beverage, the beverage unit of South Korean conglomerate Lotte Group, said Friday it would launch a makgeolli-flavored soft drink product in collaboration with Korean traditional liquor company Kooksoondang Brewery, starting Wednesday. Makgeolli cider, or “maksa” for short, is a cocktail of Korean rice wine calle
May 27, 2022
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Manufacturing, retail giants unload 5-year plan to spur future growth
South Korea’s manufacturing and retail conglomerates released a combined 115 trillion won ($90 billion) investment plan on Thursday to achieve low-carbon digital transformation and create new jobs, joining a relay of announcements heralding a business-friendly new administration. Steelmaking giant Posco Group said it would invest 53 trillion won to pursue eco-friendly steelmaking by deploying electric furnaces. It said it would secure new technologies and raw materials that are crucial f
May 26, 2022