South Korean biotech firm SK Bioscience said Friday it hosted a topping-out ceremony at the construction site of its Global Research and Process Development Center in Songdo, Incheon, Monday. In 2021, SK Bioscience signed a land contract with the Incheon Free Economic Zone authority to acquire part of the Incheon Technopark Expansion Complex. The company has invested 325.7 billion won ($244 million) in building the Global R&PD Center. With the project, SK plans to relocate its headquarters a

Industry Sept. 13, 2024

Starbucks Korea said Wednesday it has renovated an old house built in the 1960s to open a new Starbucks Reserve store in Jangchung-dong, Jung-gu, central Seoul, Thursday. Starbucks Korea has set up a few special stores where customers can have novel experiences in distinct settings. The new store in Jangchung-dong is the company’s 10th special store, marking the 10th anniversary of Starbucks Reserve. The store, which can accommodate up to 180 customers, utilizes the entire space of the ori

Industry Sept. 11, 2024

South Korea’s leading container shipper HMM said Tuesday it has created a five-year cooperative body, dubbed Premier Alliance, together with two global partners Japan’s ONE and Taiwan’s Yang Ming, to further expand its vessel route network. Separate from the new alliance, the firm has also signed an agreement with MSC, the world’s top shipper based in Switzerland, to share freight space on Northern European and Mediterranean routes for four years, the company added. Wit

Industry Sept. 10, 2024

HD Hyundai said Monday that it is participating in the REAIM Summit, a global military conference, held at the Lotte Hotel in Jung-gu, central Seoul, this week. REAIM Summit 2024 is an international multilateral event where 90 countries are presenting their uncrewed vessel technologies and discussing responsible military use of artificial intelligence. HD Hyundai will showcase a model of Tenebris, an uncrewed surface vehicle co-developed with US-based big data analytics firm Palantir Technologie

Industry Sept. 9, 2024

LG Innotek said Wednesday it is showcasing its innovative semiconductor substrates at this week's KPCA Show 2024, held at the Songdo Convensia in Incheon, from Wednesday to Friday. The KPCA Show is the largest annual exhibition of printed circuit board and electronic packaging, hosted by the Korea PBC and the Korea Printed Circuit Association for 21 years. LG Innotek plans to unveil its package substrate and tape substrate products along with high-value semiconductor substrates, called Flip

Industry Sept. 4, 2024

South Korean food and entertainment giant CJ Group said Tuesday that it will host a celebratory event on Wednesday to mark the return of Frieze Seoul, the Korean franchise of the international art fair. This year, Frize Seoul is being held Wednesday to Saturday at Coex in southern Seoul. On the first day, CJ will invite some 400 global cultural figures from home and abroad to a special gathering. Participants include foreign and domestic art professionals such as curators from art galleries and

Companies Sept. 3, 2024

HD Hyundai Oilbank, one of the nation’s top refiners, is ramping up research and development efforts to spur growth as a sustainable energy company. Based on its business know-how accumulated in its core refinery and petrochemical businesses, the company is making a strategic shift to boost its new growth drivers, including eco-friendly chemicals, materials and energy infrastructure. Back in 2011, HD Hyundai Oilbank established a central technology institute by integrating R&D teams na

Industry Aug. 30, 2024

South Korean real estate developer and builder Hyundai Development Company said Friday that it has seen an almost 90 percent surge in its share prices on upbeat earnings and positive credit ratings this year. As of Aug. 26, the stock price closed at 26,700 won ($20), an 87.9 percent growth from the beginning of this year. During the same period, the benchmark Kospi fell 5.44 percent. Among the nation’s top 10 construction companies, the growth rate was the highest. Amid the recent rally of

Industry Aug. 30, 2024

South Korean mutual financial institution MG Community Credit Cooperatives said Thursday it has made efforts to improve its organizational culture by offering consulting services on labor and employment matters to its employees since last year. In the project, called MG Blue Wave, MG aims to examine and consult on the personnel management of its 560 branches until the end of this year. As of this month, some 394 branches have undergone such evaluation program since the beginning of last year. Th

Industry Aug. 29, 2024

South Korean drugmaker Dong-A Pharmaceutical said Thursday the company launched a new flavor of eye health supplement containing perilla herb for kids -- Minimax LAB Eyes Solution. According to a study released in 2017, researchers found that Perilla frutescens reduce near point of convergence values, which are indicators of eye fatigue. To evaluate the effects of Perilla extract, the research team divided 30 Korean participants into two groups, giving the extract to only one group. However, due

Industry Aug. 29, 2024

South Korea's largest beauty retailer CJ Olive Young said Wednesday the company will reduce the price of over 10,000 products by up to 70 percent for a week from Friday. The company has opened doors for the nation's smaller cosmetic makers. Olive Young plans to offer large discounts on numerous Korean beauty products, with medium-sized brands making up 80 percent of them. In June, cosmetic products from small and medium-sized enterprises ranked first to tenth in sales. During the event

Industry Aug. 28, 2024

Kwangu Bank, a South Korean bank affiliated with JB Financial Group, announced Tuesday the company has teamed up with Toss Bank, the internet-only lender, to launch the nation's first joint loan product. Kwangju Bank expects synergy by combining its know-how about private loans with Toss Bank’s extensive mobile platform. The new loan product, called Together Loan, also earned recognition as an innovative financial service from the Financial Services Commission in June. Customers can a

Industry Aug. 27, 2024

Korean IT service provider LG CNS said Tuesday the company has signed a memorandum of understanding with Seoul National University to nurture tech talents specialized in digital transformation or DX. Under the partnership, LG CNS will set up new talent training programs for SNU's master course in industrial engineering. The areas of study include mathematical optimization, artificial intelligence, big data and business consulting. The company will select top performers in the course next ye

Industry Aug. 27, 2024

Korean shipbuilding and offshore company Hanwha Ocean said Tuesday that it has secured some $5.07 billion in orders in the first half of this year with a strategic focus on high-value vessels such as LNG carriers. Under the contracts, Hanwha will build 26 high value-added ships – 16 LNG ships, two very large ammonia carriers (VLAC), one very large gas carrier (VLGC) and 7 very large crude oil carriers (VLCC) – scoring the highest contract amount in the merchant ship sector among dome

Industry Aug. 27, 2024

E-commerce giant Coupang announced Monday the company became the first domestic distributor to co-host a global hackathon event. Dubbed as "Hackseoul," the event, held on Saturday and Sunday, brought together some 200 software developers from 10 countries, including the US, Canada, Uzbekistan and India, at the company's headquarters in Songpa-gu, Seoul. AngelHack, a US-based company that has organized numerous hackathon events since 2011, designed the overall contest. The event wa

Industry Aug. 26, 2024