BUSAN -- Naver Z, the metaverse subsidiary of South Korean internet giant Naver, is planning a version of Zepeto for Apple's first wearable headset device, embracing the US tech behemoth's concept of spatial computing. “We are preparing to showcase something special for headsets such as Apple's Vision Pro," Lee Seung-won, Nazer Z's developer relations director told The Korea Herald during a marketing talk at G-Star Game Conference 2023, part of the G-Star gaming ex

Technology Nov. 19, 2023

South Korean chemical company SK Geocentric has started the construction of a new advanced plastic recycling cluster -- the first of its kind in the world -- in the southeastern city of Ulsan. With the new cluster, named the Ulsan Advanced Recycling Cluster, or ARC, the company aims to expand its presence in the eco-friendly plastic solution market as well as bolstering its response to escalating regulatory pressure and corporate demand for recycled plastics. The company held the ground-breaking

Industry Nov. 15, 2023

Pernod Ricard Korea on Monday launched Redbreast 15 Year Old, a more aged and spicier variant of its Irish whiskey brand, targeting the evolving demand for non-Scotch whiskeys in the rapidly expanding domestic market. The world's second-largest wine and spirits seller previously introduced its Irish whiskey, Redbreast 12 Year Old, for the first time in Korea in September. While retaining the smooth character typical of traditional Irish pot still whiskey, the 15 Year Old brings a spicier pr

Consumer Nov. 13, 2023

Kumho Petrochemical Group has reiterated its corporate-wide commitment to enhancing environmental and safety measures while developing a sustainable management system to begin carbon-neutral growth by 2035 and achieve complete carbon neutrality by 2050. Kumho Petrochemical and its affiliates, including Kumho P&B Chemicals, Kumho Mitsui Chemicals, Kumho Polychem, Kumho T&L, and Kumho Resort, have coordinated through an internal ESG council to align on environmental and safety management

Industry Nov. 13, 2023

South Korean shipbuilding and energy conglomerate HD Hyundai promoted Chung Ki-sun, the president and CEO of HD Hyundai, to vice chairman on Friday, as part of a leadership reshuffle that also included promotions for several other executives. Chung Ki-sun's tenure as president was marked by his role in steering the company through economic downturns over the last two years, especially in the shipbuilding sector. He was pivotal in developing ship sales and research initiatives, laying the gr

Industry Nov. 10, 2023

Renault Korea Motors said Friday it has signed a deal with Swedish carmaker Polestar and China's Geely Holding to produce the all-electric Polestar 4 at its Busan plant from the second half of 2025. Renault Korea has dedicated efforts since 2022 to prepare for the manufacture of high-end mid-size and semi-large electric vehicles. "Kicking off Polestar 4 EV production in Busan is a fresh start for us at Renault Korea Motors, reflecting our pledge to a forward-thinking approach. We'

Industry Nov. 10, 2023

ULSAN -- Right below the world’s biggest shipbuilder HD Hyundai Heavy Industries' shipyard in the southeastern industrial city of Ulsan, HD Hyundai Electric is gaining momentum in the energy sector with its advanced transformer manufacturing facility. The electrical equipment maker showcased its 500-kilovolt transformer production line on Wednesday, in which an investment of 80 billion won ($61 million) was made in 2020, during a period of declining profits and challenging market cond

Industry Nov. 9, 2023

Korean construction equipment maker Doosan Bobcat said Wednesday it will build a production base worth $300 million in Monterrey, Mexico, situated close to the US-Mexico border, to boost supply chain efficiency and cater to the increased post-pandemic demand within North America. With operations expected to commence in early 2026, the new Monterrey plant is projected to increase Doosan Bobcat's loader production capacity in North America by 20 percent. Specifically, the 65,000 square meter

Industry Nov. 8, 2023

Hyundai Mobis, a South Korean auto parts manufacturer, said Wednesday it has secured a $940 million green loan for the construction of electrification parts plants in North America, marking the company's first overseas foray into sustainable mobility financing. It finalized the funding from seven international financial institutions, leveraging a long-term 10-year maturity period and low-interest rates supported by a credit guarantee from the Korea Trade Insurance Corp. Such financing mecha

Industry Nov. 8, 2023

South Korean energy and environmental solutions provider SK Ecoplant said Monday that it signed a partnership with Lumcloon Energy, an Irish power generation firm, to supply solid oxide fuel cells for a new data center in Castlestown, Ireland, marking a step toward greener energy utilization in European data centers. On Thursday, SK Ecoplant had a signing ceremony with Lumcloon Energy to integrate fuel cell technology for a new data center located approximately 80 kilometers west of Dublin. This

Industry Nov. 6, 2023

LG Electronics announced Monday that it has launched a research facility in Alaska to enhance the resilience of modern heating and cooling systems, collectively known as HVAC systems, in extremely cold conditions. The LG Advanced Cold Climate Heat Pump Laboratory is part of a collaboration that includes the University of Alaska Anchorage and the University of Alaska Fairbanks. The partnership, made official on Monday as the Consortium for Advanced Heat-pump Research, will tackle the challenge of

Industry Nov. 6, 2023

The appointment of Saudi Arabia as the host for the 2034 FIFA World Cup has elicited a backlash from multiple human rights groups over the nation's contentious rights record, coming just weeks before the final decision on its bid for the World Expo 2030. FIFA President Gianni Infantino confirmed the host as the only bidder last Tuesday after Australia withdrew its bid hours before the Tuesday deadline. Critics are primarily concerned about the potential exploitation of migrant workers who w

Economy Nov. 5, 2023

South Korea’s top battery maker LG Energy Solution said Wednesday it is partnering with financial service provider Hyundai Capital to launch a new financing product for electric vehicle drivers called Battery Lifecare, offering incentives based on battery life. Battery Lifecare, an industry first, is designed to benefit those leasing or renting EVs from Hyundai Motor Group, including Hyundai’s Ioniq 5 and Ioniq 6, Kia's EV6 and the Genesis GV60. By offering better trade-in value

Industry Nov. 1, 2023

South Korean telecommunications giant KT Corp. on Tuesday unveiled Mi:dm, a customizable large language model aimed at corporate clients looking to develop their own advanced AI services in the booming field of generative AI technologies. The name Mi:dm is based on the word "mideum," which means "belief" in Korean. Unlike generic models such as OpenAI's GPT, KT posits that Mi:dm allows companies to incorporate their own specialized datasets to produce tailor-made AI prod

Technology Oct. 31, 2023

South Korean steel giant Posco faces the threat of a strike -- the first in its 55 years of history -- after months of wage talks between management and the company's labor union failed to reach an agreement. In a vote held over the weekend, nearly 80 percent of Posco's unionized workers voted in favor of a strike, marking the first time a Posco union has approved a strike since the firm’s establishment in 1968. Of the 11,145 union members, 10,756 people, or 96.51 percent, partic

Industry Oct. 30, 2023