To respond to the growing pressure to meet net-zero pledges, steelmakers around the world must work together to find ways to decarbonize steelmaking, mostly likely with the use of hydrogen, the chief of South Korea’s top steel manufacturer said Wednesday. Hosting the Hydrogen Iron & Steel Making Forum 2021, the world’s first international forum on hydrogen steelmaking, Posco Chairman Choi Jeong-woo highlighted the need for urgent, concerted action as an industry and an open pla

Industry Oct. 6, 2021

Japan’s export restrictions on three key industrial materials critical for South Korea’s chip and display industries has had little impact against the target materials, but worsened overall trade between the two countries, a major business representation group here said Tuesday. Releasing an analysis, the Federation of Korean Industries urged Japan and its new Prime Minister Fumio Kishida to lift the export restrictions the country imposed against Korea in July 2019. According t

Industry Oct. 5, 2021

DUBAI, United Arab Emirates -- The Korea Pavilion at the pandemic-delayed Expo 2020 Dubai finally opened Friday, taking visitors on a journey of the present and future of Korea. The fifth-largest exhibition site at the fair, which was the world’s largest event since the global virus crisis, the Korea exhibit dazzled visitors with 1,597 colorful, rotating cubes mounted outside the building in what is meant to represent the dynamism of its culture and people. Inside, a plethora of advance

Industry Oct. 4, 2021

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

Industry Sept. 29, 2021

South Korea has long been in love with large luxury cars. Compact cars, despite their practicality and suitability for city traffic, are regarded as only for rookies, or those with thin wallets. But that’s before Casper. Hyundai Motor’s first A-segment release in 19 years, the mini sport utility vehicle has President Moon Jae-in, among others, signed up for preorders. It is creating buzz unseen for many years in the compact car segment for its unique, toy-like design and funct

Mobility Sept. 29, 2021

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

Industry Sept. 28, 2021

In this time of escalating rivalry for technology hegemony, it is crucial for countries to stake claims on advanced technologies in core industries in order to survive the patent war, South Korea’s intellectual property agency chief said Monday. As for South Korea, the country should work on improving research and development productivity, and also utilize big data analytics for patent protection, Kim Yong-rae, commissioner of the Korean Intellectual Property Office, said in an interview

Industry Sept. 28, 2021

Technology is advancing at a dizzying speed, bringing future mobility closer to us. Scenes of driverless vehicles cruising down smart roads and up in the skies no longer sound like science fiction. Against such a backdrop, the idea of design should go beyond just making products look good. It should also be about planning the experience of users, says Kwon Young-jin, who leads Hyundai Motor Group’s Zer01ne Playground, an open innovation platform. “Hyundai Motor Group seeks to rep

Mobility Sept. 23, 2021

Posco said Friday it has established a 1 million-ton production facility for giga steel, an ultrahigh-strength steel product used for cars. Amid the expanding global market for eco-friendly cars and rising demand for lightweight vehicles, Posco said it has invested about 500 billion won ($425 million) since 2017 to build and expand the production facility for the high-strength steel inside the Gwangyang steel mill in Gwangyang, South Jeolla Province. “Since its first production of steel

Industry Sept. 17, 2021

Hyundai Motor Group has begun test operating a robot to inspect safety at its automotive plant, in collaboration with robotics startup Boston Dynamics, the group said Friday. Hyundai Motor Group, which operates two leading automotive companies Hyundai Motor and Kia, said it has deployed Spot, Boston Dynamics’ quadruped robot, to inspect safety at Kia AutoLand Gwangmyeong, Kia’s automotive plant facility in Gyeonggi Province. It is the first joint project between Hyundai and Bosto

Mobility Sept. 17, 2021

SKC, the chemical affiliate of SK Group, will cooperate with Kuwait’s state-operated petrochemical giant Petrochemical Industries Company to expand its environment-friendly plastic business in Kuwait, the company said on Friday. PIC is the world’s fifth petrochemical firm by production volume. SKC and PIC established the joint venture SK picglobal in March 2020. SKC said the company inked a memorandum of understanding with PIC and SK picglobal in Los Angeles on Thursday there to

Industry Sept. 17, 2021

Genesis will implement face recognition technology on its GV60, the brand’s first electric sport utility vehicle planned, Hyundai Motor, the firm behind the automobile brand, said Thursday. According to the automaker, the new technology dubbed Face Connect will allow drivers to control a car -- opening the door and starting the car -- using their biometric data instead of a smart key. This would allow the driver to close the car with the smart key inside, or not need to carry keys at a

Mobility Sept. 16, 2021

From the lighting down to the sparkling floor that resembles the asphalt of a racing circuit, AMG Seoul is all about the heart-racing experience it offers high-performance car enthusiasts.  Korea's first AMG Brand Center -- a special dealership store for Mercedes-AMG vehicles -- opened Aug. 5, presenting some of the German automaker’s most distinctive high-performance vehicles. The center, located in Seoul’s Gangnam area, is the brand’s sixth dealership store in the wo

Mobility Sept. 14, 2021

South Korea’s Fair Trade Commission is probing Kakao Group founder Kim Beom-su for alleged misreporting of the company’s de facto holding company in violation of the country’s fair trade act. According to industry insiders on Monday, the antitrust watchdog recently conducted site investigations at Kakao Corp. and K Cube Holdings, after finding that the group has left out necessary information or falsely reported about K Cube Holdings, an investment firm fully owned by Kim, o

Industry Sept. 13, 2021

The ways to buy a car are expanding into the non-face-to-face realms of home shopping TV networks and dedicated websites, taking the hassle out of having to visit a dealership for a new set of wheels. Renault Samsung Motors said Sunday it is launching the Master van on GS Retail’s home shopping channel GS My Shop after it saw successful sales of its electric vehicle Zoe in July. The automaker said they decided to expand the sales route to home shopping programs for the 15-person van am

Mobility Sept. 12, 2021