Daewoo E&C wins W1tr plant project in Turkmenistan

South Korean builder Daewoo Engineering & Construction has been selected as the winning bidder for a mineral fertilizer plant project in Turkmenistan, valued at approximately 1 trillion won ($730 million), according to the company Monday. The project involves the construction of a mineral fertilizer plant in Turkmenabat, 450 kilometers east of the capital Ashgabat. The plant will have an annual production capacity of 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate,

Oct. 21, 2024

LG Chem to develop plant-based cosmetics ingredient

LG Chem said Thursday that it plans to commercialize an eco-friendly ingredient derived from plant-based oils for cosmetic products, becoming the first to do so. The South Korean chemicals giant is set to develop functional cosmetics using 100 percent bio-based 3-hydroxypropionic acid, a compound produced through the microbial fermentation of plant materials. This marks the first time 3HP will be applied as a cosmetics ingredient. While 3HP is considered as an innovative bio-material with vast p

Oct. 17, 2024

Job Korea’s Klik to host networking event for foreign talent

Klik, Korea’s largest foreign talent recruitment service, operated by Job Korea, announced Wednesday that it will host a networking event for international students and job seekers on Oct. 24. Organized to ease the often difficult process of job hunting for foreigners and create stronger ties within Korea’s expatriate community, “Klik Happy Hour” will offer practical tips for job seekers, including guidance on how to effectively use the Klik platform. In addition to infor

Oct. 16, 2024

[Photo news] Deacon whisky debuts in Korea

Pernod Ricard Korea on Tuesday debuted its premium blended Scotch whisky, The Deacon, in collaboration with Sovereign Brands. The whisky blends peaty Islay and fruity Speyside varieties, offering a smoky yet sweet flavor. "The Deacon captures our innovative style, delivering luxury, uniqueness, complexity and balance, while being easy to enjoy," said Brett Berish, CEO and founder of Sovereign Brands, at a showcase event held in Seoul on Tuesday. (Pernod Ricard Korea)

Oct. 15, 2024

Hanwha eyes another shipyard takeover in US

Hanwha Group, South Korea’s defense-to-energy conglomerate, is looking to expand its shipbuilding and maritime businesses in the United States as it appears to be contemplating a second American shipyard acquisition. Mike Smith, who was appointed as the CEO of Hanwha Defense USA in August, a US subsidiary of Hanwha Aerospace, said in Washington last week that Hanwha is “not done” when asked whether Hanwha’s purchase of Philly Shipyard was a one-time deal. Hanwha Group ann

Oct. 15, 2024

Paris Baguette opens 600th overseas store in Canada

The Korean bakery brand Paris Baguette has opened its 600th overseas store, the newest one in Toronto, Canada, just a year after celebrating its 500th store, the brand's company SPC Group announced Tuesday. This new location marks Paris Baguette’s seventh store in Canada. Paris Baguette has been expanding rapidly over the past year, recently securing agreements to enter new markets in Southeast Asia, including Thailand, Brunei and Laos. By the end of this year, the brand plans to open

Oct. 15, 2024

Hyosung chair meets Vietnamese PM in Hanoi

Hyosung Group Chairman Cho Hyun-joon met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Monday, seeking government support for the chemical, textile and construction conglomerate’s new business ventures in Vietnam. The meeting focused on Hyosung’s ongoing investments and potential expansion into environmentally friendly and high-tech sectors, the group said Tuesday. Hyosung executives, including Vice Chairman Lee Sang-woon, and senior Vietnamese officials were also in a

Oct. 15, 2024

Samsung Biologics unveils new platform

Samsung Biologics announced Monday that it has launched S-HiCon, a new platform specializing in high-concentration formulation development, designed to meet rising demand for high-concentration biopharmaceuticals. The company officially introduced the platform at Bio Japan 2024, a biotechnology expo held from Wednesday to Friday in Yokohama, Japan. A webinar explaining the platform was also released via the company's official website Monday. S-HiCon is designed to meet increasing market dem

Oct. 14, 2024

JTI Korea takes consumer-centric strategy ahead of heated tobacco launch

Japan Tobacco Group subsidiary JTI Korea is sharpening its focus on a consumer-first approach as it prepares to launch its first heated tobacco product in Korea by year-end, part of the company’s broader strategy to foster sustainable growth amid shifting market conditions, JTI Korea said Monday. As a company that has been recognized as a "Top Employer in South Korea" for five consecutive years, David Wheeler, general manager of JTI Korea, in a message to employees emphasized the

Oct. 14, 2024

Hanwha zeroes in on arms exports to North America

Hanwha Aerospace is gearing up to showcase its latest land weapons systems at the US Army’s Annual Meeting & Exposition, known as AUSA, in Washington, as the Korean defense firm looks to score exports to the North American defense sector, the company said Friday. Hanwha Aerospace plans to display its wheeled self-propelled howitzer, uncrewed transport robotic vehicle and modular charge system at the upcoming arms trade show slated to take place from Monday to Wednesday. In particular,

Oct. 11, 2024

Lotte chief vows sustainable cacao sourcing in Ghana

Lotte Group Chairman Shin Dong-bin, alongside executives from the group's Korean and Japanese subsidiaries, visited Ghana to support the sustainable sourcing of cacao, a key ingredient in their signature chocolate product. As part of the Sustainable Cocoa Bean Project, a joint initiative by Lotte's Korean and Japanese branches, the visit included Lee Young-gu, head of Lotte's food division; Lee Chang-yeop, CEO of Lotte Wellfood; and Genichi Tamatsuka, CEO of Lotte Holdings. Lotte

Oct. 10, 2024

[Herald Interview] NineWatt reveals the simple path to smarter urban energy use

How can cities contribute to achieving carbon neutrality? According to Kim Young-rok, CEO of NineWatt, it is simpler than you might think. “When people think about energy efficiency, they often think of expensive, high-tech solutions,” Kim said. “But before you jump into cutting-edge technologies, the key is to optimize what’s already there -- the buildings you visit every day. The real question is: how do we do that efficiently?” Founded in 2019, NineWatt is a Kore

Oct. 10, 2024

Hanwha Group marks 72nd anniversary as 'great challenger'

Hanwha Group Chairman Kim Seung-youn has reiterated the company's approach to overcoming crises as a “Great Challenger,” expressing the need to take more proactive and leading measures rather than waiting for market conditions to turn favorable. “Driven by unwavering beliefs that do not compromise with the currents of the times and a relentless dedication to being the best, we will overcome the waves of crises and write a new history for Hanwha,” said Kim in a video

Oct. 10, 2024

LS Group on smooth sail for double growth by 2030

LS Group, a South Korean cable and industrial electric machinery conglomerate, is looking to achieve the vision to double its total assets value to 50 trillion won ($37 billion) by 2030 as it welcomes more opportunities for its existing businesses in the era of artificial intelligence while investing in the sectors of batteries, electric vehicles and semiconductors. Since taking the helm of the conglomerate in January 2022, LS Group Chairman Koo Ja-eun has vowed to invest 20 trillion won or more

Oct. 9, 2024

AliExpress Korea chief questioned on product safety at Assembly audit

AliExpress Korea CEO Ray Zhang expressed the company’s commitment to enhancing product safety during a parliamentary audit, where he faced criticism from South Korean lawmakers for the platform’s failure to stop the sale of hazardous products despite previous pledges to do so. The audit, led by the Trade, Industry, Energy, SMEs and Startups Committee on Monday, was convened to address growing concerns about unsafe products circulating on Chinese e-commerce platforms. These platforms,

Oct. 8, 2024

US ambassador discusses battery supply chain at Posco Future M plant

Posco Future M CEO Yoo Byung-ok and US Ambassador to South Korea Philip Goldberg have discussed the importance of stabilizing supply chains as the Korean battery material and chemical producer struggles to cope with declining anode prices due to competition from China. According to Posco Future M on Tuesday, the US Ambassador visited the Korean company’s artificial graphite anode plant in Pohang, North Gyeongsang Province, the previous day. “Despite being the only alternative for sta

Oct. 8, 2024

LG Energy Solution pledges to double sales by 2028

LG Energy Solution on Monday vowed to double its annual sales by 2028 based on expanding and diversifying battery businesses outside of electric vehicles while continuing to secure technological leadership in the EV battery sector. “We will not settle at producing and selling batteries anymore, but we will establish a paradigm of subscription economy for batteries based on our battery diagnosis and management technologies,” said Kim Dong-myung, CEO of LG Energy Solution, during the c

Oct. 7, 2024

Asiana to increase excess baggage fees on intl. flights in Jan.

Asiana Airlines Inc. announced Sunday it will increase fees for excess baggage on its international flights starting Jan. 2, 2025. Those fees apply to baggage in excess of the airline's free allowance. Fees for baggage exceeding the quantity limit will go up by as much as 40,000 won ($29.66) depending on routes, Asiana said. For short-haul routes within 90 minutes from Korea, the excess baggage fee will rise from 60,000 won per piece to 90,000 won. For flights to Europe, Africa and Oceania,

Oct. 6, 2024

[Photo News] Genesis shines on red carpet

Supported by Hyundai Motor Group’s luxury brand Genesis, the Busan International Film Festival celebrates its 29th year. Over 100 Genesis G90 Black and GV80 Coupes will chauffeur top directors, actors, and festival officials to the outdoor theater. Beyond the red carpet, Genesis will offer test drives of the GV60, GV70 EV and G90 Black along Busan’s scenic coastal roads. Guests can also visit an interactive booth to preview films from the comfort of the G80 and GV80 Coupe. This year

Oct. 4, 2024

SK Enmove secures iodine supply from Chile’s SQM

SK Enmove, a lubricant subsidiary of SK Innovation, has secured a stable supply of iodine by partnering with SQM, the world’s largest iodine producer based in Chile, in efforts to take the lead in the next-generation automotive refrigerants market, the company said Thursday. As iodine is a crucial material for producing high-efficiency automotive refrigerants, SK Enmove plans to develop advanced refrigerants that offer superior cooling and heating performance in comparison to the existing

Oct. 3, 2024