[Photo News] Tradition meets technology

LG Electronics said Sunday it has unveiled its new brand experience zone, called “Another Hanok,” for its latest energy-efficient home appliances, in Madrid, Spain. Styled on a traditional Korean house or "hanok," the net-zero space features the company’s artificial intelligence-based heating, ventilation and air conditioning solutions for corporate clients. (LG Electronics)

June 16, 2024

High schoolers' green startup Torus offers AI-powered food waste solution

US-based eco-friendly startup Torus said Friday it has offered its food waste handling service to 38 households in West Windsor, New Jersey, to connect waste producers and composting companies through an artificial intelligence-based matching system. This project, supported by Green Matters, a civic organization dedicated to environmental justice including climate issues, officially ran through Sunday, but Torus plans to continue the project afterward. Founded in December 2023 by Zikang Jiang, a

June 14, 2024

Doosan Bobcat breaks ground on new plant in Mexico

Doosan Bobcat, a South Korean industrial machinery builder under Doosan Group, has broken ground on a new manufacturing plant in Monterrey, Mexico, to handle increasing demand for loaders in the North American market, the company said Friday. Officials from Doosan Bobcat and the Mexican local government took part in the groundbreaking ceremony held on Thursday local time. The new overseas site will be Doosan Group’s first manufacturing facility in Mexico. Doosan Bobcat will invest $300 mil

June 14, 2024

Nongshim to build W229b logistics center on robust overseas sales

Nongshim, the top ramyeon manufacturer in South Korea, said Friday it plans to invest 229 billion won ($166 million) to build a new logistics center in Ulsan, South Gyeongsang Province, largely driven by increasing overseas sales in recent years. The new Ulsan logistics facility will enhance the company’s distribution network, facilitating connections between ingredient suppliers and its ramyeon production plants in Gumi and Busan. Nongshim said that the company is considering constructing

June 14, 2024

Line Pay service to be terminated in Japan next year: LY

LY Corp., the operator of popular mobile messenger Line, has announced its plan to terminate its Line Pay service in Japan next year, amid criticism over Japan's apparent pressure to shed Naver Corp., South Korea's biggest internet portal operator, from LY. LY, a 50-50 joint venture between Japan's SoftBank and South Korea's Naver, said Thursday the mobile payment service will be terminated by April 30, 2025, in Japan, citing "optimal allocation of management resources.&

June 14, 2024

KGC taps into Malaysia's top health store chains

Korea Ginseng Corp., the leading ginseng product manufacturer in the country, announced on Thursday its plans to introduce its flagship health functional food products to Guardian and Watsons, the top health and beauty stores in Malaysia, as part of efforts to expand its presence in Southeast Asia. This initiative follows a recent increase in health awareness in Malaysia, a significant economic player in the region, which has led to growth in the health-functional food market from 1.5 trillion w

June 14, 2024

Coupang’s Rocket Delivery faces antitrust fine

South Korean e-commerce giant Coupang is in trouble, as the nation’s antitrust watchdog has flagged the company for allegedly promoting its own private label products -- particularly those eligible for its signature Rocket Delivery service -- on its platform’s algorithm-driven ranking system. On Thursday, the Korea Fair Trade Commission issued a fine of 140 billion won ($102 million) along with prosecution against Coupang, arguing that the company engaged in "consumer deception&

June 13, 2024

Denmark recalls 3 types of Buldak ramyeon for extreme spiciness

The Danish government has recalled three types of spicy ramyeon Buldak products made by the Korean manufacturer Samyang Roundsquare simply because they are too spicy. On Tuesday, the Danish Veterinary and Food Administration, under the Ministry of Food, Agriculture and Fisheries, ordered a recall of three types of Buldak Spicy Noodles, citing a risk of acute poisoning due to high levels of capsaicin in the products. The food safety agency stated, “The total levels of capsaicin in a single

June 12, 2024

Hyosung Heavy to ramp up output of power transfomers in Korea, US

Hyosung Heavy Industries announced Wednesday its plans to expand its ultra-high voltage transformer factories in the US and Korea to meet increasing global demand for electricity infrastructure. The company will add a test line and expand the existing testing and production facilities at its ultra-high voltage transformer plant in Memphis, Tennessee. This expansion is expected to double the production capacity of the plant. Simultaneously, the Changwon plant in South Gyeongsang Province, which i

June 12, 2024

SK Ecoplant eyes bigger footing in Vietnam’s solar market

South Korean energy and environmental solutions provider SK Ecoplant said Tuesday that it is ramping up efforts to seek a bigger footing in Vietnam’s solar panel market with a recent solar panel installation within an industrial complex. The company held a ceremony on Monday to celebrate the completion of a solar panel rooftop for a plant owned by Samil Vina, a Vietnam-based textile exporter located in Dong Nai province. All energy generated from the 1-megawatt solar power plant will be us

June 11, 2024

Hyundai Mobis unveils giant panoramic display for cars

Hyundai Mobis, the parts and service arm of Hyundai Motor Group, said Tuesday it has showcased M.VICS 5.0, the new addition to the company’s in-vehicle digital cockpit series, as part of its efforts to lead the global competition in electrified vehicle parts technology development. First launched in 2021, the M.VICS series is an infotainment system installed in front of the driver and passenger seats, providing various driving information and media content while enabling external communica

June 11, 2024

[Photo News] Summer poem

Korean refiner S-Oil displays a refreshed billboard at its headquarters in Mapo-gu, western Seoul, on Tuesday with "Diary of a Grass Leaf" by Korean poet Han Sang-soon. It reads: "Sunshine, you make me sparkle in shades of green." Set against a backdrop of a lush, sunlit forest, the display is designed to convey a refreshing feeling of summer. This update continues S-Oil’s tradition since 2016 of integrating cultural elements into its corporate environment to inspire em

June 11, 2024

[Hello India] Krafton eyes bigger footing in India

Krafton, the developer of the popular shooting game PUBG: Battlegrounds, is looking to go beyond the boundaries of its main sector -- developing and publishing games -- in India in the long term as the company is focused on becoming a local publisher offering popular games in the world’s most populous country. “The biggest goal for now is to become a true local publisher that publishes games beloved by the Indian game market besides BGMI,“ said Sohn Hyun-il, CEO of Krafton Indi

June 5, 2024

S. Korean toilet paper firm sold to Indonesian firm

Monalisa Co., a major South Korean toilet paper company, said Tuesday it has been sold to Indonesian paper-manufacturing company Arch Peninsula SDN.BHD. NHPEA Tissue Holdings AB, the largest shareholder of MSS Holdings Co. which has Monalisa as a major affiliate, signed an agreement Saturday to sell its entire stake in MSS to the Indonesian firm, Monalisa said in a regulatory filing. The share purchase agreement will be finalized when the seller and the buyer satisfy each other's precedin

June 4, 2024

HD Hyundai to develop AI technology for ships

HD Hyundai has partnered with global leaders in the maritime classification and registration sectors to develop a new structure for ships by removing blind spots on vessels, the Korean shipbuilding conglomerate said Tuesday. For the development of AI technology, HD Hyundai signed a memorandum of understanding with the American Bureau of Shipping and the Liberian Registry at Posidonia 2024, one of the world’s largest shipping exhibitions, held in Athens, Greece this week. About 2,000 compan

June 4, 2024

Kakao launches K.ride for foreign travelers

Kakao Mobility, the operator of Korea's leading taxi-hailing service Kakao T, said Tuesday that it has introduced a new application for foreign visitors called "K.ride" to make their mobility in Korea more convenient. Previously, only those with a Kakao Talk account, the most popular messaging app in Korea, could access Kakao T. However, now users can easily create an account using their Google or Apple accounts and phone numbers via K.ride. Payments can also be made with credit o

June 4, 2024

LG Chem inks biggest corporate purchase of wind power in Korea

LG Chem said on Friday that it has secured a 20-year deal to purchase clean electricity from two wind farms in South Korea, as part of its efforts to reduce carbon emissions and achieve net zero by 2050. Facilitated by the state-run utility Korea Electric Power Corporation, LG Chem formed a power purchase agreement with ST International, an energy trading company, and Shinhan Asset Management, the owners of the two wind farms, with a combined capacity of 241 megawatts, located in Yeongdeok and Y

May 31, 2024

Posco breaks ground for W1.5t nickel and precursor plants

South Korean steel giant Posco Group said Friday that it held a ground-breaking ceremony for its new plants dedicated to nickel and precursor production, as part of efforts to secure a stable supply chain for secondary battery materials. For this project, Posco partnered with CNGR, a Chinese company renowned for its global leadership in precursor production. In January, Posco Holdings and CNGR established Posco CNGR Nickel Solution, their 60:40 joint venture specializing in nickel refining. Addi

May 31, 2024

Hanwha Ocean bolsters its Canadian submarine partnerships

Hanwha Ocean has bolstered its partnerships with Canadian companies to strengthen its submarine businesses, the Korean shipbuilder said Friday. According to the company, Hanwha Ocean signed a teaming agreement with CAE, a Canadian simulation technologies developer that provides integrated live, virtual and constructive training solutions for defense forces, at Canada's largest defense and security trade show CANSEC in Ottawa. Hanwha Ocean and Hanwha Aerospace were the only Korean firms to p

May 31, 2024

Hanwha makes Time's top 100 most influential companies list

Hanwha Group has made the list of Time magazine's 100 Most Influential Companies in the world for the first time, as the only Korean company recognized this year. The list, which was unveiled on Thursday, described Hanwha as the "Lockheed Martin" of Asia, pointing out that the conglomerate had a good business year amid the ongoing global geopolitical crises. The US magazine noted that Hanwha Aerospace's market value jumped 69 percent last year to top $7.8 billion through sign

May 31, 2024