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
Netflix, streaming platforms come under fire for loose ratings
-
6
S. Korea, Singapore seal supply chain agreement
-
7
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
8
20 minors registered as CEOs making over 100 million won
-
9
Yoon honors veterans of Korean War in trip to Philippines
-
10
K-pop CEOs sidestep key issues at National Assembly audit
-
Siemens Korea appoints Chung Ha-joong as CEO
Siemens Korea announced Wednesday the promotion of Chung Ha-joong to president and chief executive officer. Chung, who served as vice president prior to the appointment, will oversee all businesses of the German technology giant’s Korean unit, effective Friday, while also serving in his current role as head of smart infrastructure and CEO of Siemens Mobility Ltd., Seoul, the firm said. Since joining Siemens Korea in 2000, the new chief has taken up various key roles in energy, mobili
Oct. 1, 2021
-
Domestic sales of Samsung's new foldable smartphones to top 1m units
Domestic sales of Samsung Electronics Co.'s new foldable smartphones -- the Galaxy Z Fold3 and the Galaxy Z Flip3 -- are likely to top 1 million units this weekend, industry officials said Friday, as the tech giant tries to popularize the foldable category. The third generation of the Galaxy Z series is set to surpass the 1 million sales milestone just about a month after its launch on Aug. 27, according to the officials in the telecom industry. Such a sales pace is similar to that of the Galaxy
Oct. 1, 2021
-
SK additionally invests W65b in US alternative milk maker
SK Inc., the holding firm of South Korean conglomerate SK Group, said Friday it has additionally invested 65 billion won ($55 million) in Perfect Day, a US alternative milk maker, following 54 billion won of funds last year. SK said it joined the latest round of funding for Perfect Day, which drew $350 million from several global investors, including Horizon Ventures, Temasek, CPP Investments and Bob Iger. Perfect Day, known for its animal-free dairy products, launched an ice cream brand "B
Oct. 1, 2021
-
Doosan forms new hydrogen R&D firm ‘Doosan H2 Innovation’
Doosan Group said Thursday it has established “Doosan H2 Innovation” to consolidate the group’s hydrogen research and development efforts currently dispersed across different affiliates. According to South Korea’s No. 15 conglomerate, the newly established company will take a central role of the group’s development of solid oxide fuel cells, or SOFCs. SOFCs are third-generation fuel cells that can offer longer life spans and greater efficiency than conventional m
Sept. 30, 2021
-
SK turns oil extracted from plastic waste into clean raw materials
SK Geo Centric has become the first company in South Korea to utilize oil extracted from plastic waste as a feedstock to manufacture petrochemical products, the company said Thursday. Formerly known as SK Global Chemical, the petrochemical subsidiary of SK Innovation began pumping waste plastic oil mixed together with crude oil into the production line of its plant in Ulsan to manufacture various products including gasoline, diesel, aviation fuel and naphtha. “Starting October, SK Geo C
Sept. 30, 2021
-
Genesis unveils GV60 electric SUV with facial recognition
Hyundai Motor’s luxury brand Genesis unveiled on Thursday the GV60, its first electric car based on its exclusive EV-dedicated modular platform. The coupe-style crossover SUV is fitted with a 77.4 kilowatt-hour battery and can travel up to 451 kilometers on a single charge, the automaker said in a statement. Priced at between 60 and 70 million won ($50,570-$59,000), the GV60 comes in three types: rear-wheel drive, four-wheel drive and a four-wheel performance version. The GV60 is t
Sept. 30, 2021
-
LS Electric factory wins nod for technological innovation
A smart factory from LS Electric was awarded at the World Economic Forum for its innovative technologies and efforts to increase energy efficiency, the company said Thursday. According to the South Korean power solutions producer, its smart factory in Cheongju, North Chungcheong Province, was among winners of the “Lighthouse Factory” title awarded to factories that set an example in the manufacturing industry for effectively utilizing next-generation technologies like artific
Sept. 30, 2021
-
POSCO breaks ground on battery recycling plant
POSCO, the world's fifth-largest steelmaker by output, said Thursday it has broken ground on a 120 billion won ($101 million) plant that will extract nickel and lithium, key materials for electric vehicle batteries. The plant by POSCO HY Clean Metal is capable of extracting nickel, lithium and cobalt from 12,000 tons of black mass annually. The recycling plant is set to be completed in the second half of next year in Yulchon Industrial Complex in South Jeolla Province. POSCO said it will receive
Sept. 30, 2021
-
S. Korea actively reviewing trans-Pacific trade pact
South Korea's trade ministry said Thursday it is reviewing joining a mega free trade pact comprising Asia-Pacific countries in line with its goal to play a leading role in trade in the region. "South Korea is considered an ideal partner for the CPTPP in terms of its competitiveness in different industries and technologies," Trade Minister Yeo Han-koo said during a meeting with local trade experts. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is the
Sept. 30, 2021
-
Galaxy Z Fold3 can be used as digital car key for Genesis GV60
Samsung Electronics Co. said Thursday its latest smartphones, including the Galaxy Z Fold3, will be able to be used as a digital car key for a new electric vehicle from South Korean luxury automaker Genesis. The tech giant said its ultra-wideband (UWB)-based digital car key service with its Galaxy smartphones will be available for the Genesis GV60. At its Unpacked event in January, Samsung said it is working with several automakers, including Audi, BMW, Ford and Genesis, to develop digital key s
Sept. 30, 2021
-
Hanwha Q Cells' solar power plant in Texas comes online
Hanwha Q Cells, a solar solutions unit of South Korean conglomerate Hanwha Group, said Thursday it has completed the construction of a 168-megawatt solar power plant in the United States. Hanwha Q Cells said its US unit has recently begun operation of the solar farm in Fannin County, Texas, which is enough to power about 30,000 households a year. It is the second solar plant with over 100 MW capacity built in Texas, following a 235 MW facility in 2018, the firm said. Hanwha Q Cells has been expa
Sept. 30, 2021
-
Posco to hold international forum for greener steel
Global steelmakers will come together to find ways to decarbonize steelmaking in a forum organized by Posco, the South Korean steel giant said Wednesday. The Hydrogen Iron & Steel Making Forum 2021, set to take place from Oct. 6-8 on both offline and online channels, is expected to provide a platform for industrywide discussion for major players around the world to join the global movement to reduce carbon emissions. “Hydrogen-based steel production technology is yet to be realize
Sept. 29, 2021
-
Korea changes regulations too quickly: ECCK chief
Rules and regulations tend to change too quickly in South Korea without adequate input from stakeholders, often leaving foreign companies doing business here perplexed, the chief of the European Chamber of Commerce in Korea said Wednesday. “In many instances, the new policies lack the adequate evaluation on whether they will have the desired effect without unintended consequences,” Dirk Lukat, chairperson of the ECCK, said at an online press conference. The chief and other senio
Sept. 29, 2021
-
[Photo News] Energy is the next chip
Energy Vice Minister Park Ki-young (front center) poses with representatives of member companies of the Energy Alliance, a private sector-led association launched in April, at Lotte Hotel in Seoul on Wednesday. The event, which was the group’s first meeting with the government, was attended by GS Energy CEO Hur Yong-soo, Posco Energy CEO Jeong Ki-Seop, Hanwha Energy CEO Jung In-sub, Hyosung Vice President Hwang Yoo-eon, Doosan Fuel Cell CEO Yoo Soo-kyung, DL Energy Vice Chairman a
Sept. 29, 2021
-
LG Electronics to post solid Q3 earnings on home appliance biz: analysts
LG Electronics Inc. is likely to report solid third-quarter earnings, analysts said Wednesday, as its mainstay home appliance business is expected to offset a slump from vehicle components and B2B units. The South Korean tech giant was projected to log a record 18.3 trillion won ($15.4 billion) in sales in the July-September period, up 8.2 percent from a year earlier, on a consolidated basis, while its operating profit was estimated to jump 16.9 percent on-year to 1.1 trillion won over the perio
Sept. 29, 2021
-
S. Korea accounts for one-third of global EV battery market in Jan.-Aug. period
Three South Korean electric vehicle (EV) battery makers accounted for about a third of the global market in the first eight months of the year, but they are facing toughening competition with Chinese rivals, a market research firm said Thursday. The trio -- LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. -- accounted for 34.8 percent of the global EV battery market in the January-August period, inching down from 35 percent a year ago, according to the data from SNE Research. LG En
Sept. 29, 2021
-
S. Korea begins countermeasure against Britain's steel safeguard
South Korea has started the process for countering Britain's extension of safeguard measures against its steel exports, the trade ministry said Wednesday. In July, Britain extended its safeguard measures against steel imports from South Korea for another three years together with the European Union. South Korea and Britain have been in talks to resolve the dispute, but they have failed to iron out differences, prompting Seoul to move to seek a countermeasure. The ministry said Seoul has recently
Sept. 29, 2021
-
DL Chemical acquires Kraton for $1.6b to take lead in global SBC plastic market
DL Chemical, the world’s largest producer of polybutene, said Tuesday it will acquire Texas-based specialty chemical manufacturer Kraton for $1.6 billion to bolster its presence in the US and European markets. According to the subsidiary of South Korea’s DL Holdings, it will purchase the full stake of Kraton at $45.60 per share. DL will spend $2.5 billion in total, as it will also take over the US firm’s net debt of $900 million. The acquisition will allow DL Chemical to ma
Sept. 28, 2021
-
Controversial workplace disaster law to take effect in Jan
A new law aimed at improving safety and protection for employees from industrial accidents by punishing those responsible has been endorsed by the Cabinet on Tuesday, despite criticisms from both employer and employee groups. President Moon Jae-in and his Cabinet members approved the enforcement decree for the so-called workplace disaster law, paving the way for its effectuation in January. The law itself passed the National Assembly in January. It seeks to enhance safety management by incre
Sept. 28, 2021
-
Daesung chief pins hope on microbes to turn waste into biodegradable plastic
Daesung Group Chairman Younghoon David Kim on Tuesday presented his vision for a waste-free world by harnessing the power of living microorganisms. Speaking to The Korea Herald at the 2021 Daesung Haegang Microbes Forum in Seoul, he said his energy conglomerate is investing to transform methane emitted from garbage buried inside landfills into useful resources such as biodegradable plastic. “Until now, we have utilized resources made of dead microorganisms, such as oil. It’s ti
Sept. 28, 2021