Merck Korea, the Korean unit of the German chemicals giant Merck, said Thursday that two Korean display specialists were named as the winners of its Merck Award this year during the International Meeting of Information Displays held at Bexco in Busan this week. Marking its 20th anniversary this year, the Merck Award recognizes scientists for their outstanding scientific contributions to display technology. This year, Jeong Jae-kyeong, a professor at Hanyang University, won the top honor, the Mer

Technology Aug. 24, 2023

South Korean food and beverage manufacturer Dongsuh Foods is leading the domestic snack food market with globally recognized Oreo cookies and Ritz crackers through creative marketing strategies. Launched in 1912, the American sandwich cookie Oreo was introduced to South Korea in 2003. Dongsuh at first imported the cookies from China, but since 2010 it has produced them at its production plant at home. The company has enhanced marketing campaigns to maintain Oreo’s title as the “world

Industry Aug. 23, 2023

Asiana Airlines, South Korea’s second-biggest carrier, signed a memorandum of understanding with Seoul Arts Center on Tuesday to ramp up their partnership in promoting arts and culture. Held in SAC’s Opera Theater, the signing ceremony was attended by Asiana Airlines Vice President Won Yoo-suk and Seoul Arts Center President Chang Hyoung-joon. Under the agreement, Asiana Airlines will offer flight benefits for artists and artworks, provide in-flight screenings of SAC’s contents

Industry Aug. 22, 2023

SK Ecoplant, the construction and energy arm of SK Group, said Monday that its US partner Bloom Energy has signed a supply deal for solid-oxide fuel cells, or SOFCs, with energy conglomerate EnBW, its first customer in Germany, with an aim to expand its presence in the European market. Under the agreement, Bloom Energy will provide 300 kilowatts of SOFCs to the geothermal plant of Geothermie-Gesellschaft Bruchsal, the affiliate of EnBW in Bruchsal, southern Germany. Since 2018, SK Ecoplant has b

Industry Aug. 21, 2023

South Korean home appliance maker Coway announced Friday that its ice-making water purifiers posted a 20 percent increase in sales in July compared to last year, amid unprecedented scorching weather. The sales of ice water purifiers during this summer peak season, from May to July, soared almost 50 percent from the previous year, according to the company. “To meet the increasing demand, our production line in Gongju, South Chungcheong Province, has been operated at full throttle since May,

Industry Aug. 20, 2023

South Korean food manufacturer Samyang Foods said Sunday it launched a new spicy ramen brand called Meptaeng to mimic the global success of its bestseller Buldak Spicy Chicken Ramen, the popular spicy ramen product. Targeting consumers' distinctive craving for spicy noodles, the company said it has focused on introducing a diverse range of spiciness for its new noodle products. The three flavors include black pepper beef, garlic clam and chili pepper green onion. In order to help consumers

Industry Aug. 20, 2023

South Korean fashion company Fila Holdings Corp. said Thursday its US subsidiary Acushnet posted record sales of 906.01 billion won ($675.42 million) in the April-June period this year, up 9.3 percent from a year ago. Acushnet is a golf equipment and apparel company that owns the leading golf brands including Titleist and Footjoy. Currently, Fila controls about 50 percent of stakes in the company. Fila attributed the company’s record earnings to the boosted demand for Titleist golf balls a

Industry Aug. 17, 2023

Binggrae, the nation’s largest snack maker, said Wednesday that it posted record sales of 77.5 billion won ($57.9 million) in overseas markets in the first half of this year. The figure is a 27 percent jump from a year ago and has more than doubled over the past five years. Binggrae attributed the upbeat earnings to its ice cream brands, especially its bestselling fruit-flavored ice cream Melona. Of the total earnings, 60.1 percent, or 46.6 billion won, came from ice cream sales. Melona al

Consumer Aug. 16, 2023

Hanmi Global said Monday that it posted 205.6 billion won ($154 million) in sales and 13.7 billion won in operating profits in the first half of this year, both record figures for the Korean construction management firm. Compared to a year ago, sales and operating profits surged 25.6 percent and 21.5 percent, respectively. Net profits also jumped 45.8 percent to 12.1 billion won during the same period. The company attributed its upbeat earnings to its global expansion despite a market slowdown a

Industry Aug. 14, 2023

SK Telecom, South Korea’s leading telecom carrier, announced Sunday that it will invest an additional $100 million in San Francisco-based artificial intelligence safety and research company Anthropic to enhance the partnership between the two companies. Following a previous investment in May, the new round of funding aims to seek business synergy with the SK Telecom-led Global Telco AI Alliance, which was launched last month together with Deutsche Telekom of Germany, e& of the United A

Industry Aug. 13, 2023

Posco International, a trading and energy firm under Posco Group, said Thursday that its Australian subsidiary Senex Energy has signed seven consecutive supply deals for natural gas with multiple international companies. Senex Energy has agreed to provide some 133 petajoules of natural gas -- an amount that can produce about 250 million metric tons of liquefied natural gas -- to seven companies, including Australia's leading energy firm AGL Energy, Australian steel supplier BlueScope Steel,

Industry Aug. 10, 2023

SK Bioscience, a pharmaceutical affiliate of South Korea’s SK Group, said Wednesday it has acquired a 7 percent stake, or 6.5 million shares, in US biotech firm Novavax in a deal worth some 110 billion won ($83.5 million). The stock deal was inked as a mean of payment for Novavax, which owed SK Bioscience for manufacturing the former's COVID-19 vaccine. On top of the new agreement, the companies also extended their recent license contract on Novavax’s new vaccine targeted at COV

Industry Aug. 9, 2023

South Korean home appliance maker Coway said Tuesday its latest air purifier, called the Coway Airmega ProX, has topped a recent US Consumer Reports rating among 186 air purifier models. The Coway air purifier earned the highest 93 points in performance evaluations conducted by Consumer Reports, a nonprofit consumer organization. It was the first time that a Korean brand air purifier has topped the rating. The Coway Airmega ProX also outpaced its rivals in terms of cleaning performance, energy e

Industry Aug. 8, 2023

Korean Water Resources Corp. (K-water) has provided one of its buildings in Daejeon to accommodate scouts from Singapore after they left the World Scout Jamboree campsite in Saemangeum, North Jeolla Province due to safety concerns last Saturday. During the 65 Singaporean scouts' stay at the institute for five days, K-water provided them with tour programs to explore the industry, culture, history and nature of Daejeon and South Chungcheong Province. On Monday morning, the scouts visited the

Industry Aug. 7, 2023

Hyundai Card topped the brand reputation chart in August, followed by Shinhan Card and Samsung Card, in a monthly ranking announced by Korea Corporate Reputation Research Institute on Friday. The institute announces the Brand Reputation Index every month, analyzing big data information based on consumer trends online. It looks at six indices which include participation, media, communication, community, social contribution and CEO to evaluate the ranking of the credit card brands. The brand reput

Industry Aug. 4, 2023