Finding the right talent for the right company has become harder than ever before as the COVID-19 outbreak has dealt a heavy blow to the global economy and created a massive pool of jobs seekers at the worst possible gridlock. Deputy Prime Minister and Finance Minister Hong Nam-ki called the slump in job markets “grave” as the number of employed people in South Korea stood at 26.56 million in April, 476,000 fewer than a year ago, marking the biggest on-year decline since February

Industry June 1, 2020

South Korean bicycles maker Samchuly Bicycle said Monday its sales of electric bicycles have surged as people are looking for new ways to travel amid the coronavirus outbreak. According to the company, its sales of electric bicycles have surged 34 percent on-year in the first quarter as they can serve as an alternative to crowded public transportation. “Demand for electric bicycles as well as general bicycles has jumped as customers can minimize contact with other people when travelin

Industry June 1, 2020

LG Chem said Friday the Indian police have restricted its special task force comprised of eight officials from boarding a chartered flight back to South Korea. According to the company, its special task force -- dispatched to India on May 13 in the aftermath of a deadly styrene gas leak at a LG Polymers plant -- was blocked by Andhra Pradesh state police on Tuesday from boarding a chartered plane back to Korea despite approval from the local aviation authorities. The flight returned to Korea

Industry May 29, 2020

South Korean retail giant E-mart’s online store SSG.com said Friday it has witnessed a spike in its business as worried customers are shunning online grocery delivery platforms of Coupang and Market Kurly whose logistics centers reported virus infections recently. According to SSG.com, the number and sales of early morning deliveries on Friday jumped 14 percent and 37 percent, respectively, compared to last week after two Coupang employees and one Market Kurly employee working at their

Industry May 29, 2020

South Korean battery maker Samsung SDI said Friday it has started injecting capital into EcoPro EM, a joint venture with EcoPro BM, a supplier of electric vehicle battery materials to Samsung. According to Samsung SDI, it will fund a total of 120 billion won ($96.9 million) with EcoPro BM into EcoPro EM. Samsung SDI and EcoPro BM will contribute 48 billion won and 72 billion won, respectively, to control 40 percent and 60 percent of the JV, respectively. The JV is expected to begin construc

Industry May 29, 2020

Hyundai Oilbank said Friday it has launched new mascots as it finalizes its acquisition of the gas station business of SK Networks. The South Korean oil refiner introduced three dinosaur mascots -- Gio, Dio and Kio -- named to represent its respective brands for gasoline, diesel and kerosene. It is poised to take over some 300 gas stations from SK Networks. The takeover is expected to allow Hyundai Oilbank to dethrone GS Caltex and become the second-biggest oil station following SK Energy a

Industry May 29, 2020

South Korean livestreaming platform Afreeca TV faced criticism Thursday for its lackadaisical response to a recent sexual harassment case on its platform. On Wednesday, ChulGu, a popular online streamer on Afreeca TV, allegedly made sexually offensive comments to a female streamer called Adlyn while on a show together. “You’re so my type. You give me (explicit). I feel adrenaline shooting at one place,” ChulGu was seen as saying. The female streamer, looking visibly perple

Industry May 28, 2020

Amorepacific said Thursday it has opened a pop-up store selling products made by single mom business owners at its headquarters to boost their sluggish sales amid the coronavirus outbreak. According to the South Korean cosmetics giant, some 250 staff and executives purchased a total 550 products at the store, which was stocked with items from Hope Stores run by single mom owners and delivered profits worth 27.5 million won ($20,180). Amorepacific paid half the price for every purchase made

Industry May 28, 2020

Hanwha Q Cells said Thursday it will sponsor a local green energy competition to raise awareness on solar energy and deal with fine dust and climate change. According to South Korea’s No. 1 solar module maker, it will sponsor the 2nd K-Solar League, the Korean version of Germany’s Solar Bundesliga, a renewable energy drive since 2003 that ranks all regions in Germany by the amount of electricity generated by solar power and solar heat. This year, 17 regional local governments, 2

Industry May 28, 2020

South Korean ICT company specializing in smart livestock health management uLikeKorea said Wednesday it has successfully developed a COVID-19 body patch system that can monitor symptoms, activity level and location related to the virus in real-time. According to uLikeKorea, the system was made with non-toxic and environmentally friendly materials that can be attached to the chest. It can detect temperature, pulse, activity level and location in real-time, it said. “ULikeKorea used the

Technology May 27, 2020

Although South Korea’s No. 1 solar module maker Hanwha Q Cells’ power business posted a record operating profit of 100 billion won ($81.4 million) in the first quarter, it faces challenges not only from the demand crunch due to the COVID-19 outbreak but also its weak price competitiveness against Chinese rivals. On May 15, Korea Electric Power Corp. announced it would build solar power generation facilities in Guam with a capacity of 60 megawatts with solar power modules manufact

Industry May 27, 2020

Korea’s No. 1 game company Nexon said Wednesday it was positively reviewing whether to provide its first-person shooter game Sudden Attack on Steam in response to an online petition calling for the game to be made available globally. Steam is a global digital platform where users can install PC games online directly to their cloud drives after purchase. On May 23, a US-based fan called Fox R. launched an online petition on Change.org, requesting “Sudden Attack be made available

Industry May 27, 2020

South Korean oil refiner GS Caltex said Wednesday it would begin the operation of its first all-in-one pump station that can accommodate all types of vehicles running on gasoline, diesel, liquefied petroleum gas, electricity and hydrogen, starting Thursday. According to GS Caltex, it has recently added a hydrogen charging station, jointly constructed with Hyundai Motor in Seoul, completing its 3,305-square-meter hybrid charging station in Gangdong-gu, eastern Seoul. The hydrogen station is th

Industry May 27, 2020

South Korea’s 18-trillion-won ($14 billion) fighter jet project is facing payment delays amidst the COVID-19 pandemic, while officials involved have assured it does not mean it is being shut down. Korea Aerospace Industries -- the country’s only aircraft manufacturer -- is currently co-developing next-generation fighters with Indonesia. Launched in 2016, the KF-X project aims to develop a next-generation fighter jet and mass-produce 180 units by 2026. The project, the biggest in

Industry May 26, 2020

LG Chem Vice Chairman Shin Hak-cheol said Tuesday he would even consider quitting current businesses if the company can’t secure environmental safety in the aftermath of a recent gas leak at LG Polymers’ plant in India and a fire incident in a catalyst lab in South Korea. According to the company, Shin will launch emergency diagnostics on high-risk processes and facilities in all 17 domestic business locations and 23 overseas business locations for one month until end-June after

Industry May 26, 2020