SKT’s veterinary diagnostic service makes debut in Australia

SK Telecom said Wednesday the official launch and promotion of its artificial intelligence-based veterinary diagnostic service, X Caliber, in Australia. The company has been gearing up for global commercialization since partnering with Australia’s largest medical devices provider, ATX Medical Solutions, last year. The service, already used in South Korea, aims to streamline the diagnostic process in veterinary clinics by providing autonomous diagnostic assistance. This marks the first inte

May 29, 2024

Incheon Airport in final phase of expansion to be world's No. 3 in passenger capacity

INCHEON -- Amid continuous growth in global aviation demand, the Incheon International Airport Corporation unveiled the fourth-phase construction project at the Incheon Airport's Terminal 2 on Tuesday, which can accommodate up to 106 million passengers annually. If successful, the plan will position Incheon Airport among the world's top three in passenger capacity, after Dubai and Istanbul. Initiated in 2017, the project is in its final stage and will begin operation by the end of th

May 29, 2024

Seoul shares open lower on auto, chemical losses

South Korean stocks opened lower Wednesday, bucking overnight gains on Wall Street as auto and chemical shares slumped. The benchmark Korea Composite Stock Price Index fell 4.19 points, or 0.15 percent, to 2,718.66 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite closed at an all-time high by advancing 0.59 percent, while the Dow Jones Industrial Average moved down 0.55 percent. The United States is set to release April's Personal Consumption Expenditures index

May 29, 2024

Samsung, Lennox set up HVAC joint venture in US, Canada

Samsung Electronics Co. said Tuesday that it has agreed to set up a joint venture with a leading provider of climate solutions for a heating, ventilation and air-conditioning and refrigeration business in the United States and Canada. According to Samsung, the newly established JV, named Samsung Lennox HVAC North America, will sell ductless AC and heat pump products in the US and Canada. The JV is 50.1 percent owned by Samsung, with the remaining stake being held by Lennox. However, Samsung did

May 28, 2024

Cheap shot? Soju by the glass gets mixed reactions

South Korea widened the range of drinks that restaurants can sell by the glass Tuesday, as drinkers increasingly prefer to consume alcohol in smaller amounts, rather than by the bottle, according to government officials. Previously, restaurants were restricted from selling most types of alcoholic beverages in individual glasses because this practice was deemed unauthorized processing by law. Although violations such as eateries selling wine by the glass were common, restaurants that broke these

May 28, 2024

Finance minister hints at tax incentives for local firms

The South Korean government is ramping up discussions on specific tax incentives aimed at enhancing the market value of local companies, with plans to conduct public hearings over the next two months. "We talked about tax incentives for the Value-up Program on several occasions. But now is the time for us to discuss more specific plans," Finance Minister and Deputy Prime Minister Choi Sang-mok told reporters on Monday. "Throughout June and July, we will host public hearings to del

May 28, 2024

Seoul shares close nearly flat as investors search for clues over rate direction

South Korean stocks closed nearly flat after choppy trading Tuesday as investors waited for clues over the direction of the US rate decision. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index edged down 0.14 points, or 0.01 percent, to close at 2,722.85. Trade volume was moderate at 432 million shares worth 11.3 trillion won ($8.31 billion), with losers outpacing gainers 467 to 401. Foreigners bought a net 45.4 billion won worth of local shares, while

May 28, 2024

S. Korean biz leaders meet with UAE president

Leaders of major South Korean conglomerates met with United Arab Emirates President Mohamed bin Zayed Al Nahyan on Tuesday in search of ways to deepen business cooperation in defense and energy areas with the oil-rich Middle East state, on the occasion of the UAE leader’s first state visit to Korea. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Chung Euisun, Hanwha Group Vice Chairman Kim Dong-kwan, HD Hyundai Vice Chairman C

May 28, 2024

[Photo News] Restoring Mongolian forest

Korean Air employees and villagers plant a tree in Baganuur, a district in Ulaanbaatar, Mongolia, on Tuesday as part of the Korean air carrier’s forest restoration campaign. The campaign started in 2004 to restore the Mongolian district from coal dust blowing from the country’s largest open-pit coal mine. So far, some 125,300 trees, including poplar trees, sea buckthorns and Siberian elms, have been planted. (Lee Sang-sup/The Korea Herald)

May 28, 2024

Hyundai Motor hires ex-Porsche engineer to lead high-performance push

Hyundai Motor Group has recruited Manfred Harrer, former lead developer of Porsche’s first all-electric vehicle Taycan, to take the helm of developing products for the Korean carmaker’s luxury brand Genesis and Hyundai Motor’s high-performance N series, the company said Tuesday. According to the auto conglomerate, Harrer has been appointed as the head of Genesis & Performance Development Tech Unit, which operates under the Research & Development Division of Hyundai Moto

May 28, 2024

Hanwha to showcase defense prowess at Canada trade show

Hanwha Group's two defense units -- Hanwha Ocean and Hanwha Aerospace -- said Tuesday that they would be showcasing their latest marine and ground weapon systems at this week's CANSEC, Canada's largest defense and security trade show. Held annually in Ottawa, CANSEC features over 280 companies and representatives from 50 countries. This year's event runs from Wednesday to Thursday, and will be the first in which Hanwha Group has taken part. Hanwha Ocean will present the KSS-I

May 28, 2024

Korea's privacy watchdog denies Tesla Autopilot probe

South Korea's privacy watchdog has denied claims from a news report suggesting the agency is specifically investigating Tesla for potential privacy violations related to the carmaker's Autopilot system. The Personal Information Protection Commission clarified that its current efforts are part of a broader privacy policy initiative that involves all smart cars and self-driving mobility systems, not just Tesla’s Autopilot. On Tuesday, a local daily reported that the Personal Information Prot

May 28, 2024

SK C&C, Hana team up to develop smart battery plant machines

SK Inc. C&C, an IT solutions unit of SK Group, said Tuesday that it inked a memorandum of understanding to jointly develop plant machines tailored for secondary battery manufacturing with Hana Technology, a local equipment maker, eyeing exports to North America and Europe. Hana’s key equipment will be supplied to be transformed by using SK’s digital factory operation know-how and other advanced technologies like artificial intelligence and big data. The machines will be capable o

May 28, 2024

[Photo News] Power of optimism

LG Electronics’ new “Optimism your feed” campaign video is played on a signage screen at Times Square in New York. The tech giant said Tuesday it has teamed up with online influencers to spread the power of optimism among young social network service users. The campaign is part of LG’s new brand identity “Life’s Good.” (LG Electronics)

May 28, 2024

[Photo News] Knit for kids

Asiana Airlines crew members pose for a photo with knitted accessories that will be sent to children in developing countries on Tuesday. After years of pandemic disruptions, the nation's second-largest air carrier has recently resumed its inflight knitting campaign, in which passengers can make knitted mufflers and hats to be donated to children in need. (Asiana Airlines)

May 28, 2024

S. Korean conglomerates double executives specialized in AI within a year: data

Korea’s top 30 conglomerates have doubled the number of artificial intelligence specialists in executive management and board of director positions in the space of a year, shows data released Tuesday. According to Leaders Index, a local business analysis and research center, which reviewed first-quarter regulatory filings submitted by 295 companies from the 30 business groups, there are now 187 executive-level managers specializing in AI. This figure marks a significant increase from the f

May 28, 2024

Biz leaders of S. Korea, UAE discuss enhancing bilateral economic, biz partnership

Business leaders of South Korea and the United Arab Emirates on Tuesday discussed ways to enhance economic cooperation and develop business partnerships in new industries, such as clean energy and ICT, a major business lobby here said. The Korea-UAE Business Investment Forum, held in Seoul during the state visit of UAE President Mohamed bin Zayed Al Nahyan, brought together around 200 government officials and business leaders, including South Korean Trade Minister Cheong In-kyo and UAE Minister

May 28, 2024

Seoul shares open lower on tech slump

South Korean stocks opened lower Tuesday due to losses in tech shares, with investors also waiting for more hints on the future course of US key rates. The benchmark Korea Composite Stock Price Index fell 4.82 points, or 0.18 percent, to 2,718.17 in the first 15 minutes of trading. Top tech giant Samsung Electronics lost 0.26 percent, while No. 2 chipmaker SK hynix gained 0.99 percent. Leading battery maker LG Energy Solution dropped 0.96 percent, and Samsung SDI fell 1.57 percent. Naver, which

May 28, 2024

S. Korean biz leaders to meet with UAE president

South Korean business leaders, including Samsung Electronics Co. Chairman Lee Jae-yong, will meet with the President of the United Arab Emirates in Seoul to explore cooperation in various economic and technological sectors, industry sources said Monday. According to the sources, Lee, along with Euisun Chung of Hyundai Motor Group and Chey Tae-won of SK Group, will have tea with UAE President Mohammed bin Zayed Al Nahyan somewhere in Seoul on Tuesday. Other business leaders, including Hanwha Grou

May 27, 2024

S. Korea’s finance chief in talks for China visit

South Korean Finance Minister and Deputy Prime Minister Choi Sang-mok said Monday that he is in talks for bilateral meetings with his Japanese and Chinese counterparts following this week’s trilateral summit of the three countries in Seoul. “Upon the invitation from the Chinese government, we are discussing detailed schedules for a possible visit to China. I expect to discuss diverse issues, including supply chains,” the nation’s top policymaker said at a press conference

May 27, 2024