[From the Scene] SKIET develops world’s most heat-resistant battery separator

DAEJEON -- “You shouldn’t be looking at your smartphones while you are walking around the (SK) R&D campus,” said Lee Su-hyun, group leader of the management support department at SK IE Technology, a battery materials subsidiary of SK Innovation, as he greeted a group of reporters at the SKIET Research and Development Center on Friday. “We have this rule called SGR meaning Safety Gold Rule on this research site to discourage employees from looking at their smartphones

Sept. 23, 2024

Daewoo E&C chairman seeks community support for Czech nuclear project

South Korean builder Daewoo Engineering & Construction said Monday it donated over 316 million won ($236,000) to the Czech Republic’s Trebic District, as part of its efforts to foster support in the region where a Korean consortium was selected as the preferred bidder for the construction of nuclear power plants. According to Daewoo E&C, the donation will be used to purchase fire trucks for Namest nad Oslavou, a municipality located about 11 kilometers from Dukovany in Trebic Distr

Sept. 23, 2024

Korean snack exports expected to hit record high in 2024

South Korean snack exports will likely hit a record high of $700 million this year, riding the wave of popularity of Korean culture and food overseas. From January to August, exports of Korean snacks were tallied at $494.2 million, marking a 15.4 percent increase compared to the same period last year, according to the Ministry of Agriculture, Food and Rural Affairs on Monday. Snacks were the third-largest export in the agricultural sector, following instant noodles and tobacco products. By mid-S

Sept. 23, 2024

Naver to establish Middle East unit for global expansion

Naver Corp., the operator of South Korea's leading internet portal, said Monday it has plans to establish a Middle Eastern unit in Saudi Arabia within this year as part of efforts to expand its global business. The new unit, tentatively named Naver Arabia, will be in charge of Naver's business projects in Saudi Arabia, including the creation of a digital twin platform for five Saudi cities and the development of an Arabic-based large language model, according to the Korean company. Nav

Sept. 23, 2024

Yuhan, Janssen halt next-gen cancer drug collaboration

South Korean pharmaceutical giant Yuhan announced Friday it has terminated its collaboration with Janssen Biotech on the development of a next-generation targeted anticancer drug, citing the strong efficacy of its existing treatment, which has reduced the need for further development. According to the company’s regulatory filing, Yuhan and Janssen have amended their research partnership to discontinue the further development of a fourth-generation epidermal growth factor receptor (EGFR) ty

Sept. 20, 2024

Porsche Korea appoints new CEO

Porsche Korea announced on Friday the appointment of Mathias Busse as its new Chief Executive Officer and Representative Director. Busse, currently serving as Senior Director for the German market at Volkswagen Commercial Vehicles, will succeed Holger Gerrmann, who has led the company since 2019. Busse brings over 25 years of experience in the automotive industry, having held key leadership roles such as CEO of Porsche Taiwan Motors and Porsche Retail Hamburg GmbH. “We are grateful to have

Sept. 20, 2024

Hyundai Motor officially becomes KT’s largest shareholder

Hyundai Motor Group has officially become the largest shareholder of KT, one of the three main mobile carriers in Korea, the government said Thursday. After months of review, the Ministry of Science and ICT decided to approve the change in KT's largest shareholder, concluding that it does not harm the public interest. In March this year, the National Pension Service, the former biggest shareholder of KT, sold about 2.88 million shares of KT to lower its stake to 7.51 percent from 8.53 perce

Sept. 19, 2024

GS Caltex supplies eco-friendly fuel to Japan’s Narita Airport

South Korean oil refiner GS Caltex said Thursday that it has supplied some 5,000 kiloliters of sustainable aviation fuel to Japan’s Narita International Airport, as part of its efforts to expand its carbon reduction business. The fuel was produced by GS Caltex by blending conventional aviation fuel with sustainable aviation fuel provided by Neste, a leading biofuel producer in Finland. The supply deal was facilitated by Japanese trading company Itochu Narita Airport plans to sell the fuel

Sept. 19, 2024

LG Electronics partners with Ricoh to bolster B2B push

LG Electronics announced a new partnership with Ricoh, a leading global office solutions company, on Thursday, aiming to strengthen its competitiveness in the global business-to-business market. The memorandum of understanding, signed by Ricoh's President of digital services Takahiro Irisa and Paik Ki-mun, head of LG Electronics' information display business division, focuses on exploring new digital transformation services and expanding their B2B offerings. “We will strengthen

Sept. 19, 2024

Hanwha Ocean pledges W1.97tr to strengthen shipyard safety

Hanwha Ocean, a leading Korean shipbuilding and offshore company, announced on Wednesday plans to invest 1.97 trillion won ($1.49 billion) over the next three years to improve safety at its shipyard facilities. "After a thorough review of safety feedback from both internal and external experts, as well as the overall safety conditions at our shipyards, we have determined that a comprehensive overhaul of our current safety management system is needed," said Kim Hee-cheul, CEO of Hanwha

Sept. 18, 2024

Naver Map starts providing natural disaster information

Naver Corp.'s mobile map application has begun providing real-time service on natural disaster information starting this week, the company said Sunday. Naver Map now provides information about earthquakes, typhoons, heavy snow and rain downpours affecting South Korea on its app based on sources from the Korea Meteorological Administration (KMA) and other weather authorities, according to the company. In detail, users can check information about earthquakes with a magnitude of 3.5 or higher

Sept. 15, 2024

Daegu Homeplus gets fresh look with enhanced features, new brands

South Korean discount chain Homeplus announced Friday that it reopened its Chilgok branch in Daegu earlier this month, in an aim to refresh the branch into a leading regional shopping complex. The Homeplus Mega Food Market at Chilgok is the only large-scale retailer serving northern Daegu, separated from the bustling southern part of the city by the Geumho River. Homeplus expects the renovated store to be a central hub for the local community, offering an exceptional shopping, dining and enterta

Sept. 13, 2024

Celltrion secures contract to supply Herzuma to Brazil for 5th year

South Korean biosimilar giant Celltrion will continue to supply trastuzumab biosimilar Herzuma to Brazil, the company announced Friday. The company won the bid to supply a trastuzumab biosimilar to the Brazilian Federal Government for the fifth consecutive year. Under the contract, Celltrion will provide 660,000 vials of Herzuma through 2025. Celltrion remains the sole trastuzumab provider for the Brazilian government, with its Herzuma accounting for more than 50 percent of the market annually.

Sept. 13, 2024

Pulmuone launches frozen gimbap in China

South Korean food giant Pulmuone said Thursday that it has become the first Korean food company to introduce frozen gimbap into the Chinese market by selling its products at a leading retailer there. Pulmuone’s Tuna Kimbap, sold in packs of three rolls, is now available at Sam's Club, which operates 49 stores in China. A full 136,000 units will be exported to China by September, with plans to export a total of 620,000 units annually, the company said. The product packaging brandishes

Sept. 12, 2024

Nexon to split off Mintrocket, developer of 'Dave the Diver'

Nexon on Wednesday announced its decision to split off Mintrocket, the South Korean game company's sub-brand known for its hit title, "Dave the Diver," in the effort to bolster its autonomy and create a more innovative environment for developing games. Mintrocket, which began as Nexon's sub-brand in 2022 under the motto of "creative and speedy development," came up with "Dave the Diver" -- a single-player, action-adventure game that requires players to con

Sept. 11, 2024

Hanwha to add 600 jobs in hiring spree for global push

Hanwha Group’s three affiliates -- Hanwha Aerospace, Hanwha Ocean and Hanwha Systems -- have set out to find the best talent to take the lead in global defense, aerospace and maritime into the future. According to Hanwha on Wednesday, the three firms plan to hire some 600 university graduates looking for their first jobs in the second half of this year, marking the biggest number of new employees for the three companies in either half of the year in at least over a decade. Hanwha Aerospace

Sept. 11, 2024

Celltrion Remsima SC hits record share in Australia in Q1

Celltrion’s Remsima SC, the world’s only subcutaneous formulation of infliximab, has reached a record market share in Australia, the Korean biosimilar giant announced Wednesday. According to data from pharmaceutical market research firm IQVIA, Remsima SC achieved a 20 percent market share for the first time in the first quarter of the year, a surge since its market debut in 2021. Celltrion said Remsima SC gained popularity in Australia for its convenience, allowing patients to admini

Sept. 11, 2024

Strike hits production at key Samsung electronics plant in India

SRIPERUMBUDUR (Reuters) -- Samsung Electronics' production at a plant in southern India was disrupted for a second day by hundreds of employees striking for higher wages on Tuesday, as top executives sought to resolve a rare episode of labour unrest. South Korea-based Samsung, India's biggest consumer electronics company, counts the country as a key growth market, competing with the likes of LG Electronics to make everything from televisions and refrigerators to smartphones. The strike

Sept. 10, 2024

Samsung SDI to sell polarizing film biz to China’s Wuxi for W1.1tr

Samsung SDI has decided to sell its polarizing film business to China’s Wuxi Hengxin Optoelectronic Materials for 1.12 trillion won ($833.3 million) as the company aims to focus on honing the competitiveness of its electronic materials unit, the Korean battery maker said Tuesday. Polarizing films, optical films that allow displays to show an image by controlling the amount of light, affect the image quality of the screen. According to the company’s regulatory filing, Samsung SDI&rsqu

Sept. 10, 2024

Taihan completes Kuwait’s first fiber optic cable plant

South Korean electric wire maker Taihan Cable & Solution announced Tuesday that it has completed Kuwait’s first fiber optic cable factory, as the company aims to localize production and tap into the Middle East’s growing demand for 5G network infrastructure. The factory, a joint venture with Kuwaiti construction and trade company Rank, held its grand opening on Monday local time in the Mina Abdulla industrial area. Equipped with advanced production and testing facilities, the 5,0

Sept. 10, 2024