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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20 minors registered as CEOs making over 100 million won
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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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K-pop CEOs sidestep key issues at National Assembly audit
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Who is pollster roiling politics with claims of government string-pulling?
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Man killed by fellow hunter who mistook him for wild boar
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Audi Volkswagen Korea executive named to lead imported car association
South Korea's imported car business lobby group said Thursday it has appointed an Audi Volkswagen Korea executive as its new chief to help their members gain a bigger share in the local passenger vehicle market. Till Scheer, group managing director of Audi Volkswagen Korea, will serve as the 15th chairman of the Korea Automobile Importers and Distributors Association (KAIDA) from March to February 2024, KAIDA said in a statement. "With a heavy sense of responsibility, I aspire to find solut
Feb. 24, 2022
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S. Korea seeks int'l cooperation for stable supply chains amid Ukraine tensions
South Korea's top trade official met with foreign envoys to Seoul on Thursday and discussed ways of cooperation to ensure stable supplies of key materials amid global supply chain disruptions and simmering tensions surrounding Ukraine, the industry ministry said. The meeting took place in Seoul between Trade Minister Yeo Han-koo and ambassadors and charge d'affaires of nine resource-rich nations -- Indonesia, Canada, Malaysia, Vietnam, the Philippines, the United Arab Emirates, Mexico, Brazil an
Feb. 24, 2022
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Producer prices gain 0.9% in Jan. on high energy costs
South Korea's producer prices made an upturn in January amid rising oil and other raw material prices, central bank data showed Thursday. The producer price index, a major barometer of consumer inflation, stood at 114.24 in January, up 0.9 percent from a month earlier, according to the preliminary data from the Bank of Korea (BOK). Producer prices remained flat in December after recording the 13th consecutive month of an increase. Compared with a year earlier, producer prices climbed 8.7 percent
Feb. 24, 2022
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ATKO supplies leather for Hyundai Transys’ future mobility seat
ATKO planning, a Korea-based sustainable leather manufacturer, said Wednesday it has supplied recycled leather to Hyundai Transys’ future mobility seat concept, which was unveiled at the Lineapelle International Leather Fair held in Milan this month. The Lineapelle leather show is the largest of the kind and lays out the future vision of the automotive industry. This year, the trade show was held under the theme “Shift to Regenerative Mobility”, latching onto the global trend
Feb. 23, 2022
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What's behind Shinsegae's W4tr bet on Yeouido landmark?
From eBay Korea to a pro baseball team and vineyards, Shinsegae Group has been on a shopping spree recently, and its latest target is IFC Seoul, a landmark complex in Yeouido, western Seoul. According to industry sources, Shinsegae Property, a developer affiliated with the retail giant, has joined a heated race to acquire the IFC complex worth an estimated 4 trillion won ($3.34 billion) as part of a consortium with IGIS Asset Management. Other suitors shortlisted in a recent second bid inclu
Feb. 23, 2022
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Foreign invested companies hold back investment plans as pandemic continues
Most companies with foreign investors in South Korea have not yet been able to make investment plans for this year, due to the prolonged COVID-19 pandemic, according to a survey from the Federation of Korean Industries released Wednesday. Of the foreign-invested companies with more than 100 employees surveyed, 91.1 percent said they are yet to come up with an investment plan (64.4 percent) or do not plan to make an investment this year (26.7 percent). Only the remaining 8.9 percent of them hav
Feb. 23, 2022
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HDC Hyundai Development appoints new safety executive
HDC Group’s construction arm HDC Hyundai Development Co. said Wednesday that it has appointed its vice president Jung Ik-hee as its new Chief Safety Officer. Jung, 56, joined the firm in 1995 and has overseen the management at major construction sites until 2019. In 2020, he served an executive role to manage the local projects and engineering technology with his experience on sites. HDC Hyundai Development Co. said the new CSO was named as part of safety improvement efforts driven
Feb. 23, 2022
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Korea’s supply chain risks resurface over Ukraine crisis
South Korean companies are closely monitoring the situation as Western sanctions on Russia over the Russia-Ukraine geopolitical crisis may threaten the supply chains of the country’s key exports such as semiconductors, batteries and automotives. According to industry sources Wednesday, the prices of aluminum and nickel -- key minerals for EV batteries -- hit all-time highs in 14 years and 11 years, respectively, as the United States prepares sanctions against Russia for invading Ukr
Feb. 23, 2022
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Samsung Heavy wins W1tr LNG ship order from Africa
Samsung Heavy Industries Co. said Wednesday it has received a 1 trillion-won ($840 million) order to build four liquefied natural gas carriers for an African shipper. Under the deal, Samsung Heavy will deliver the four environment-friendly LNG ships to the unidentified shipper by September 2025, the company said in a statement. "We expect more LNG ship orders this year on increasing demand for LNG shipments and the International Maritime Organization's adoption of stricter environment regul
Feb. 23, 2022
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HanmiGlobal acquires TWG to cash in on US infrastructure boom
South Korean project management company HanmiGlobal said Wednesday it has acquired Tarr Whitman Group, a Seattle-based construction support consulting firm, to further expand its business to the US market. TWG will operate as a business unit within Otak, another US subsidiary of HanmiGlobal, and continue to focus on project control services for Otak and TWG clients. Following an integration of the two firms’ human resources, IT, and finance systems, HanmiGlobal hopes to serve a larger cl
Feb. 23, 2022
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LIG Nex1 showcases robots, drones in UAE
LIG Nex1 showcased its robots, unmanned surface vehicles and surveillance drones at an international exhibit in the United Arab Emirates, hoping to expand exports to and technological cooperation in the Middle East. The South Korean defense company took part in the Unmanned Systems Exhibition and Conference, which was held in Abu Dhabi from Feb. 21 through 23. Among LIG Nex1’s products on display were nonpowered muscle assistance robots called LEXO, short for lower extremity skeleton, un
Feb. 23, 2022
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Renault Samsung SM6 upgrades safety, convenience features
While keeping its overall look intact, the 2022 Renault Samsung SM6 has upgraded safety and convenience features such as LED matrix vision headlamps in all of its trims. Like most European cars, the SM6, which is sold as the Renault Talisman in Europe, has kept its unique design, despite having had minor facelifts over the six years since its launch. The LED matrix vision headlamps are smart headlamps that can automatically adjust their brightness using 18 LEDs on each side depending on traffi
Feb. 23, 2022
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Hyundai Motor's executive Luc Donckerwolke picked as 2022 World Car Person of the Year
The World Car Awards has chosen Luc Donckerwolke, Hyundai Motor Group's executive vice president for design and chief creative officer, as the 2022 World Car Person of the Year, the group said Wednesday. Donckerwolke, a Belgian native, was chosen for playing a leading role in designing a number of highly innovative new models, including the Hyundai IONIQ 5, Genesis GV60 SUV and Kia EV6, according to a Hyundai Motor spokesman. The former Lamborghini and Bentley designer was named head of the Hyun
Feb. 23, 2022
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HDC, victims’ families agree on compensation over Gwangju accident
Bereaved families of six victims discovered dead at HDC Hyundai Development Co.’s construction site in Gwangju last month said they had reached an agreement with the firm Tuesday. Although the families did not disclose the exact amount of the compensation, they said they had to “give in a lot” in terms of the amount. The agreement comes two weeks after the last victim was discovered at the construction site, almost a month after the facade and concrete floors of the 39-
Feb. 22, 2022
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LG Energy Solution aims big after IPO
LG Energy Solution was listed on the main Kospi bourse in January, 30 years after the company took its first step as a pioneer in the rechargeable battery business in 1992. Its next goal is to become “a company that is trusted and loved by customers.” LG Energy Solution’s initial public offering set several records, raising capital of more than 10 trillion won ($8.3 billion) and attracting 114.1 trillion won in deposits from some 4.4 million retail investors. As the first K
Feb. 22, 2022
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FTC grants conditional approval for Korean Air-Asiana merger over monopoly concern
The South Korean antitrust regulator granted a conditional approval on Tuesday for a merger between South Korea’s two biggest air carriers to prevent monopoly in the country’s aviation industry. The Fair Trade Commission’s decision was made after concluding that Korean Air’s acquisition of Asiana Airlines might limit competition. After the merger, the two air carriers would operate around 48.9 percent of international flights from South Korea and 62 percent of domestic
Feb. 22, 2022
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SK ecoplant acquires Singaporean recycling tech firm for $1b
SK ecoplant said Tuesday it has acquired TES, a Singapore-based electronic waste recycling company, for $1 billion as part of efforts to expand its presence in the burgeoning waste management market. The construction arm of SK Group said it signed a deal to buy a 100 percent stake in TES from Navis Capital Partners, a private equity firm, in Singapore on Monday. TES supplies waste management solutions for electronic devices and components to major IT equipment manufacturers. Its services inc
Feb. 22, 2022
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LG, Google launch Expert AI Alliance
LG Group said Monday it has formed an alliance with Google to create a global artificial intelligence ecosystem. According to the South Korean conglomerate, the partnership named Expert AI Alliance, will utilize LG AI Research’s hyperscale AI “Exaone” to create a new customer experience. Google will provide its cloud to accelerate the learning process of Exaone. Thirteen founding members are LG AI Research, LG Electronics, LG Chem, LG Uplus, LG CNS, Google, Woori Bank, Shut
Feb. 22, 2022
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Solus Advanced Materials to build new factory in Quebec
Solus Advanced Materials, which supplies electric vehicle battery materials to Tesla, will break ground on a new factory in Quebec, Canada, in July, the company said Monday. Once completed, the Quebec facility will begin the mass production of copper foils of up to 17,000 tons starting the second half of 2024. The annual production capacity could potentially expand up to 60,000 tons. Formerly known as Doosan Solus, the South Korean company manufactures copper foils that go inside EV batter
Feb. 22, 2022
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Celltrion's autoimmune disease biosimilar wins further approval in Europe
South Korean pharmaceutical giant Celltrion Inc. said Tuesday that a high-concentration version of its autoimmune disease biosimilar Yuflyma has won approval from European drug authorities. The European Medicines Agency (EMA) gave the green light to Celltrion's application to sell Yuflyma -- a biosimilar referencing blockbuster drug Humira by AbbVie Inc. The drug is used to treat patients with multiple chronic inflammatory diseases, such as rheumatoid arthritis and psoriasis, according to Celltr
Feb. 22, 2022