Most Popular
-
1
'Culinary Class Wars' producers deny trying to spice up results
-
2
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
3
Ex-president's daughter investigated for drunk driving accident
-
4
Seoulites celebrate coexistence at Wellness Seoul 2024
-
5
S. Korea, Singapore seal supply chain agreement
-
6
Netflix, streaming platforms come under fire for loose ratings
-
7
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
8
20 minors registered as CEOs making over 100 million won
-
9
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
10
K-pop CEOs sidestep key issues at National Assembly audit
-
[Photo News] Eco-friendly vehicles highlighted at DIFA Expo
Marking its 5th anniversary, the Daegu International Future Auto, or DIFA, Expo kicked off on Thursday at EXCO, a convention center in Daegu, where local and global automotive firms show off their technology for eco-friendly vehicles and electric car batteries. Hyundai Motor Group displayed its new electric vehicle IONIC5 along with a model of its E-pit station, which can charge 80 percent of the vehicle’s EV battery capacity within 18 minutes. The photo above shows NEXO, Hyu
Oct. 23, 2021
-
Hydrogen yacht maker Vinssen aims to develop ammonia-powered ships
Vinssen, a South Korean company that manufactures hydrogen powertrains for ships, said Friday it has joined hands with local partners to utilize liquid ammonia to power ships. The company, which unveiled the country’s first commercialized hydrogen electric boat at Busan International Boat Show this year, will collaborate with the Korea Institute of Energy Research and domestic engineering firm CES to develop technologies and equipment to break ammonia into hydrogen, which then can be uti
Oct. 22, 2021
-
Posco International Q3 net up 25.4% on brisk sales
Posco International Corp. said Friday its third-quarter earnings swelled more than 25 percent from a year ago on strong sales stemming from rising material costs. Its consolidated net income came to 69 billion won ($58.5 million) in the July-September period, up 25.4 percent from a year earlier, the trading arm of top steelmaker Posco said in a regulatory filing. Operating profit also soared 38.7 percent on-year to 148.5 billion won in the three-month period, with sales spiking 80.6 percent to 9
Oct. 22, 2021
-
DLS sales in S. Korea plunge 51.2% in Q3
The issuance of derivatives-linked securities (DLS) in South Korea tumbled more than 50 percent on-year in the third quarter of the year amid the coronavirus pandemic, data showed Friday. The country's DLS sales stood at slightly over 3 trillion won ($2.6 billion) in the July-September period, down 51.2 percent from a year earlier, according to the data from the Korea Securities Depository (KSD). The amount was also down 27.7 percent from the previous quarter. DLS tracks the performance of in
Oct. 22, 2021
-
Korean Air partners with Boeing for UAV development
Korean Air Lines Co., South Korea's biggest carrier, said Friday it has partnered with Boeing to jointly develop an unmanned aerial vehicle (UAV) in preparation for future mobility demand. Korean Air signed a memorandum of understanding with Boeing's subsidiary Insitu for technical cooperation to develop a lightweight and modularized tactical vertical take-off and landing (VTOL) UAV at the 2021 Seoul International Aerospace and Defense Exhibition (ADEX), the company said in a statement. "
Oct. 22, 2021
-
Hyundai Construction Equipment to sell industrial vehicle division
Hyundai Construction Equipment Co. said Thursday it has signed a deal with its holding company Hyundai Genuine Co. to sell its industrial vehicle division for 136 billion won ($115.8 million). The deal set to go into effect on Jan. 1, 2022, is intended to focus on the construction equipment sector by purchasing stakes in construction equipment affiliates in China and Brazil, Hyundai Construction Equipment said in a regulatory filing. The industrial vehicles refer to forklifts and
Oct. 21, 2021
-
Samsung SDI begins test run of cathode factory in S. Korea
South Korean battery maker Samsung SDI Co. said Thursday it has began its test run of a cathode-producing factory, jointly set up with a local cathode manufacturer. The EcoPro EM factory, located in Pohang, 374 kilometers southeast of Seoul, will conduct the test run until the end of this year before starting the mass-production of cathode from the first half of next year. Cathode is a key component that determines the capacity and average voltage of a lithium-ion battery. Samsung SDI and E
Oct. 21, 2021
-
SK Plasma to supply blood products to Singapore
SK Plasma, a subsidiary of SK Discovery, said on Thursday it has been selected as the provider of blood products to Singapore for six years from 2023. As the first South Korean pharmaceutical company to win an order in Singapore’s state-run blood product project, SK Plasma will sign a contract with the Southeast Asian country this year, and produce albumin and human immunoglobulin using blood plasma from Singapore. Singapore’s Health Sciences Authority is known for having high qual
Oct. 21, 2021
-
Samsung Heavy wins approval for storage tank, carrier for hydrogen transport
Samsung Heavy Industries Co. said Thursday it has won an approval in principle (AIP) for the conceptual design of a storage tank and carrier to transport liquefied hydrogen, from Lloyd's Register, a British ship quality assurance and risk management company. AIP for the conceptual design means a certification agency has reviewed it and confirmed it meets the agency's technical requirements and standards for safety. The conceptual design of a membrane-type storage tank and 160,000-cubic meter
Oct. 21, 2021
-
Daewoo Shipbuilding grabs W232b order for 1 LNG carrier
Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday that it has bagged a 232.2 billion won ($197.6 million) deal to build a LNG carrier. The deal, signed with an Oceanian company, calls for DSME to deliver the vessel by September 2024, the shipbuilder said in a regulatory filing. Not including the latest deal, DSME has won $8.58 billion worth of orders so far this year for 46 ships, one wind turbine installation vessel (WTIV), one submarine and two offshore facilities, alrea
Oct. 21, 2021
-
Doosan Heavy signs maintenance deal for UAE nuclear plant
South Korean power plant builder Doosan Heavy Industries & Construction Co. said Thursday it has signed a maintenance service deal for a reactor at the Barakah nuclear power plant in the United Arab Emirates (UAE). Under the deal with Nawah Energy Co., the operator of the nuclear power plant, Doosan Heavy will conduct maintenance services for turbines, generators and parts related to the nuclear reactor of the nuclear power plant for three months beginning in April 2022, it said in an emai
Oct. 21, 2021
-
Posco Chemical Q3 net income up 496.6% to W40.9b
POSCO Chemical Co. on Thursday reported its third-quarter net income of 40.9 billion won ($34.8 million), up 496.6 percent from a year earlier. The company said in a regulatory filing that it posted 31.5 billion won in operating profit for the quarter, compared with 19.4 billion won a year ago. Sales rose 29.9 percent to 505 billion won. The operating profit was 9.4 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency
Oct. 21, 2021
-
Naver's Q3 net up nearly 40% on pandemic-driven biz
Naver Corp. said Thursday its net profit jumped 37.1 percent in the third quarter from a year earlier largely due to a stellar performance of its content businesses amid the new coronavirus pandemic. Net profit reached 322.7 billion won ($274.8 million) in the July-September period, compared with a profit of 235.3 billion won a year earlier, South Korea's top internet portal operator said in a press release. Operating income reached a quarterly high of 349.8 billion won during the cited period
Oct. 21, 2021
-
5 companies to recall over 19,000 vehicles over faulty parts
Ford Sales & Service Korea, Hyundai Motor Co. and three other companies will voluntarily recall more than 19,000 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers in South Korea and vehicle importers due to problems with vehicle components. The three other companies are Porsche, Honda Motor Korea and Tera Motors which sells electric two-wheelers, the Ministry of Land, Infrastructure and Transport said in a state
Oct. 21, 2021
-
[Newsmaker] Edison Motors likely preferred bidder for troubled SsangYong Motor
Edison Motors, a little-known electric bus manufacturer, seems likely to emerge as the preferred bidder for SsangYong Motor, South Korea’s longest-running car brand, which has experienced debt troubles in recent years. The Seoul Bankruptcy Court said a consortium led by Edison Motors is the only remaining bidder, effectively making it the preferred buyer. Its competitor, another consortium led by EV firm Electrical Life Business and Technology, was excluded from the list as it failed
Oct. 20, 2021
-
Kumho Group looked into most times by antitrust watchdog for violation
Among major Korean conglomerates, Kumho Group has been under the microscope of Korea’s Fair Trade Commission the most, a lawmaker revealed Wednesday. According to data submitted by the FTC to Rep. Kim Hee-gon of the main opposition People Power Party, the state-run antitrust watchdog’s Business Group Bureau in charge of overseeing company irregularities has conducted 10 investigations into Kumho over the past four years. Since September of 2017 when the bureau was established up
Oct. 20, 2021
-
K Shipbuilding to join forces with Norwegian firm for smart ships
Midsized shipyard K Shipbuilding Co., formerly known as STX Offshore & Shipbuilding Co., said Wednesday it has signed a preliminary deal with Kongsberg Digital AS to cooperate on digital technologies for smart ships. Under the deal with the Norwegian company that has technologies for autonomous ships, K Shipbuilding will narrow the technology gap with large shipbuilders in the area of smart ships, the company said. K Shipbuilding also showed its autonomous navigation system called K-ADIS o
Oct. 20, 2021
-
KOGAS propels new LNG businesses
As part of its long-term vision to shift to eco-friendly energy, Korea Gas Corp. plans to push ahead with four new businesses using liquefied natural gas. LNG is considered an eco-friendly fuel as it emits 100 percent less sulfur oxides and dust compared to existing fuels for ships, 20 percent less carbon dioxide and up to 99 percent less fine dust. As the International Maritime Organization limited the sulfur content of ships’ fuel oil to 0.5 percent, global demand for LNG-powered ships
Oct. 20, 2021
-
Korea’s exports to emerging markets to slow after US tapering: KITA
Once the US Federal Reserve begins to pull back next year the stimulus they have provided during the pandemic, it could slow South Korea’s exports to emerging economies that are fiscally fragile, a state-run think tank has warned. A report by the Institute for International Trade under the Korea International Trade Association showed that the US “tapering” after global financial crises in the past increased uncertainties in emerging economies and affected Korea’s exports
Oct. 20, 2021
-
Genesis GV70 named Motor Trend SUV of the Year
The 2022 Genesis GV70 has been named Motor Trend's SUV of the year, beating a list of high profile contenders from Ford Motor Co. and Stellantis, Hyundai Motor Group said Wednesday. The GV70 outshined 35 competing models such as the Ford Bronco, Ford Mustang Mach-F, Jeep Grand Cherokee and Jeep Wrangler 392 and 4xe in terms of design, sporty performance, value and safety features, Hyundai said in a statement. Stellantis is a 50:50 joint venture recently set up through the merger of US carmaker
Oct. 20, 2021