Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
3
Korean language teaching expert says demand has outstripped supply
-
4
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
K-pop CEOs sidestep key issues at National Assembly audit
-
7
Who is pollster roiling politics with claims of government string-pulling?
-
8
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
9
Taking away phones during school hours not a human rights violation: watchdog
-
10
Korea launches antidumping probe into Chinese steel
-
With sales ban looming, Korean shampoo maker mulls relocating to US
South Korean hair care brand Moda Moda said Friday it is considering relocating its core business to the US in the face of a sales ban of its popular hair coloring shampoo by the nation’s drug agency. “If the Ministry of Food and Drug Safety sticks to sales ban on our coloring shampoos, we have no choice but to moving our business to the US,” a Moda Moda official said. The official added the company’s US headquarters is currently located in New York but there are pla
March 25, 2022
-
Posco Chemical expects to secure full in-house lithium supply in 2024
Posco Chemical Co., a unit under South Korean steel giant Posco, said Friday it expects to be able to secure more than 90,000 tons of lithium through in-house supply, backed by the parent firm's aggressive investment in the key material for rechargeable batteries. By 2024, Posco Chemical will procure from Posco Group all 91,000 tons of lithium it needs to make 225,000 tons of cathode materials annually, the chemical company said. Its self-sufficiency rate is forecast to reach 102 percent, it sai
March 25, 2022
-
S. Korea logs record low trade deficit in IP rights in 2021
South Korea's deficit in the trade of intellectual property rights touched a record low in 2021 on increased exports of cultural content, central bank data showed Friday. The nation's deficit in the intellectual property account stood at $30 million last year, compared with a $2.02 billion shortfall in 2020, according to preliminary data from the Bank of Korea (BOK). Exports of products and services subject to intellectual property right payments came to $20.86 billion, up from $15.42 billion fr
March 25, 2022
-
Kia to build purpose-built vehicle plant in S. Korea
Kia Corp., South Korea's second-biggest carmaker, said Friday it will build a purpose-built vehicle (PBV) plant in one of its domestic plants, as it strives to become a future mobility solutions provider. Kia plans to complete the PBV plant by the end of 2024 and start operations in 2025, according to media reports. "A building in (the company's) Hwaseong plant will be converted into a PBV plant. The timeframe for the plant's construction and production in Hwaseong has yet to be decided,&qu
March 25, 2022
-
Hanwha Solutions to add stake in REC Silicon
South Korean energy-to-material firm Hanwha Solutions plans to acquire a 4.67 percent stake in Norway-based polysilicon manufacturer REC Silicon for $44 million to achieve a full-fledged US solar supply chain, the company said Thursday. Hanwha will buy the stake from Norwegian renewable energy investment firm Aker Horizons. With the deal, Hanwha will become the largest shareholder of REC Silicon that is listed on the Oslo Stock Exchange. Earlier in January, Hanwha bought a 16.67 percent stak
March 24, 2022
-
KCCI chief willing to join Yoon’s corporate agenda setting
SK Group Chairman Chey Tae-won, who doubles as head of the Korea Chamber of Commerce and Industry, on Wednesday showed high expectations about the private sector playing a bigger role in the agenda-setting process of the incoming Yoon Suk-yeol government. “I think it may be the time to rethink the role of the private sector,” Chey told reporters in an interview marking his first anniversary as the chief of the nation’s largest business lobby. “In the past, the governm
March 24, 2022
-
Posco breaks ground on lithium plant in Argentina
Posco Holdings said Thursday that construction of a plant in Argentina kicked off to commercialize lithium, a key material for electric vehicle battery production. With the lithium extraction plant in Argentina and Posco’s mining rights in the South American country, the company will be able to entirely manage production of lithium hydroxide, which is used in the production of cathode material for lithium-ion EV batteries. Lithium is extracted from brine or seawater, which is rich
March 24, 2022
-
SK Biopharmaceuticals working on seizure detection device: CEO
SK Biopharmaceuticals is in the process of developing a new device that can record brain activities to sense signs of seizure as part of the company’s efforts in strengthening its digital therapeutics, CEO Cho Jeong-woo said Thursday. “The drive for digital therapeutics means that we are working on developing AI-driven platforms for new drugs based on the data that we have compiled over the last 30 years of our expertise in (central nervous system),” said Cho in an online pre
March 24, 2022
-
SK ecoplant to break ground on Norway’s biggest road project
SK ecoplant, the construction arm under SK Group, will kick off a $2.2 billion road construction project in Norway this year, becoming the first South Korean builder to enter the Nordic market. The company said Thursday it has recently signed a financial close and a concession agreement with the Norwegian Public Roads Administration for building the Rv555 Sotra Connection, a four-lane road that connects Bergen and Oygarden. The Public Private Partnership (PPP) deal marks the largest single con
March 24, 2022
-
SPC opens two more Paris Baguette stores in Indonesia
SPC Group said on Thursday it has opened its third Paris Baguette store in Jakarta, Indonesia, and will open a fourth one in nearby Bekasi later this month. The latest bakery cafe opening comes just four months after the South Korean bakery giant opened its first Paris Baguette store in Indonesia in November last year in Jakarta’s Ashta District 8 shopping mall. The third store is located in the center of the ground floor of Pondok Indah Mall, one of Jakarta’s five largest premium
March 24, 2022
-
Samsung chief’s mother sells stakes to pay taxes
Hong Ra-hee, Samsung Electronics Vice Chairman Lee Jae-yong’s mother, reportedly sold her shares in the company worth 1.3 trillion won ($1.06 billion) in a block trade Wednesday, the latest stake sale by the Samsung family being carried out apparently to pay inheritance taxes. According to industry sources on Thursday, Hong entrusted the sale of her 0.33 percent stake in Samsung Electronics to KB Bank in September last year and the stake was sold in a block deal through Morgan Stanley an
March 24, 2022
-
Hyundai Motor chairman reelected as executive director
Shareholders of Hyundai Motor Co. have reelected Chairman Euisun Chung as executive director for another three years, the company said Thursday. Chung will begin his extended director role on April 1 to lead the South Korean automotive group's transition into the provider of future mobility solutions, such as autonomous driving and electric vehicles, Hyundai said. The chairman's three-year directorship at Hyundai Mobis Co. ends in February 2023. He is expected to be reelected as executive direct
March 24, 2022
-
Posco breaks ground on lithium plant in Argentina
South Korean steel giant Posco said Thursday it has broken ground on a lithium hydroxide plant in Argentina. The $830 million project calls for the establishment of the plant near the Salar del Hombre Muerto salt lake in northern Argentina, with an annual production capacity of 25,000 tons of lithium hydroxide. The plant is expected to be completed in the first half of 2024, and the capacity is enough to meet demand from 600,000 electric vehicles, according to Posco. The annual output will be ex
March 24, 2022
-
S. Korea's snack exports hit record high last year
South Korea's exports of snacks hit a record high last year on the back of demand by stay-at-home consumers amid the COVID-19 pandemic and the popularity of the Korean pop culture, customs data showed Thursday. Exports of snacks came to an all-time high of $466 million last year, up 13.1 percent from a year earlier and extending their gains to the second straight year, according to the data from the Korea Customs Service. Snack shipments also rose 16.6 percent to $75 million in the first tw
March 24, 2022
-
SK E&S acquires US EV charging platform operator
SK E&S Co., the natural gas provider under South Korean conglomerate SK Group, said Thursday it has acquired a US electric vehicle (EV) charging platform operator as part of its push for green energy business. The acquisition of EverCharge Inc., a California-based startup, also included the takeover of its management, the company said in a release, without disclosing the details of the transaction. SK E&S said in a regulatory filing that it is investing $400 million in its US subsidiary
March 24, 2022
-
Nat'l brand positively impacts foreign buyers' purchases of Korean goods: poll
Nearly 7 in 10 foreign buyers think that South Korea's national brand is having a positive impact on their purchases of products from Asia's fourth-largest economy, a poll showed Thursday. According to the survey of 213 foreign buyers, 72.9 percent of the respondents replied that their imports of South Korean goods have been affected positively by the country's national brand. Slightly over 25.4 percent said South Korean products remind them of high quality, followed by reasonable prices with 16
March 24, 2022
-
[UP IN THE AIR] ‘Only few will succeed in air taxi commercialization’
The race to come out on top in the future mobility sector is reaching a fever pitch. Market estimates show there are at least 200 global carmakers, aircraft manufacturers, telecommunication firms and startups working on developing urban air mobility (UAM) or flying cars. And Korean companies are no exception. Hanwha Systems, the country’s major defense electronics and related smart technologies and infrastructure service provider, is seeking to pivot its airspace business to target the g
March 23, 2022
-
LG Energy Solution, SK On win hefty incentives in US, Hungary
LG Energy Solution and SK On, two Korean battery makers that are increasingly expanding their production base in key markets for electric vehicles, have recently won hefty incentives in the US and Europe, respectively. On Tuesday, the state of Michigan approved a package of incentives worth about $600 million for LG Energy Solution, including $565 million in government subsidies and $132.6 million in tax cuts. The incentives come after the battery maker announced a new investment of $1.7 bil
March 23, 2022
-
Nexon launches Dungeon & Fighter Mobile
South Korean gaming giant Nexon will launch Dungeon & Fighter Mobile -- the latest title of the developer’s megahit intellectual property -- on Thursday, the company said Wednesday. Similar to the PC version, the mobile title is a fast-paced 2D anime-styled side scrolling action game combined with elements of role-playing games and based on a continuously developing storyline. Dungeon & Fighter is one of Nexon’s most popular franchises as the PC version has 850 million re
March 23, 2022
-
Eximbank helps finance world’s longest suspension bridge in Turkey
The Export-Import Bank of Korea said it provided 600 million euros ($661.6 million) in financial support for the construction of the world’s longest suspension bridge, which opened last week in Turkey. The 2,023-meter Canakkale Bridge, built by a consortium of South Korea’s DL E&C and SK ecoplant, and Turkey’s Yapi Merkezi and Limak, connects Europe and Asia over the Dardanelle Strait. The 3.13 billion-euro project to build and operate the bridge and an 88.4-kilometer hig
March 23, 2022