Korea Eximbank announced Sunday that it had signed a trilateral memorandum of understanding with Korea Trade Insurance Corporation (K-Sure) and Bank Gospodarstwa Krajowego from Poland to enhance economic and financial cooperation between the two countries. BGK, established in 1924 for the country’s economic and industrial development, is the sole state-owned bank in Poland that provides loans and operates and manages government funds. The signing event was held Thursday at BGK’s head

Industry July 16, 2023

Posco International said Wednesday that its women's table tennis team Spinners and national players of Korea Bobsleigh Skeleton Federation jointly participated in plogging -- a combination of jogging with picking up litter -- alongside its employees and executives at a mountain in Pyeongchang, Gangwon Province. This activity aligned with the company’s environment, social, and governance goals, while bringing together athletes that the company has long been funding since 2011 under i

Industry July 13, 2023

South Korean ICT start-up I&OK said that it has inked an agreement with global artificial intelligence-based company iStaging to establish a joint venture called iStaging Asia. The signing event was held at I&OK's office in Seoul on July 3, with top executives including I&OK CEO Song Min-jae and iStaging’s CEO Johnny Lee in attendance. Under the agreement, iStaging Asia aims to collaborate with leading retail and financial companies in Korea to operate metaverse business

Industry July 13, 2023

Hyundai Motor Group has hired female workers for its local production plants for the first time since its founding, according to the nation’s umbrella union on Tuesday. Among a total of 200 factory workers hired in July, six were women, the Korea Metal Workers’ Union said. The carmaker, however, did not reveal the exact gender ratio. Currently, the carmaker employs around 28,000 factory workers, among whom approximately 500 are women. Most of the female employees had previously worke

Industry July 11, 2023

South Korean cable maker LS Cable & System said Monday that it has released an ultra-slim 10 gigabytes per second local area network cable. Also known as Cat6a LAN cable, the external diameter of this latest cable stands at 6 mm, making it the thinnest LAN cable in the world. It is approximately 20 percent thinner than other widely used LAN cables with an average diameter of 7.2 mm. The latest development comes amid intensifying competition among the industry's leading companies to redu

Industry July 10, 2023

South Korean shipbuilding, oil refining and machinery conglomerate HD Hyundai on Monday said that a total of five teams have been selected to commercialize their business ideas under its in-house venture accelerator program, Dream Cube. Dream Cube aims to support bold-spirited senior-level employees or teams of up to four members for their creative business ideas over the course of one year. Since March, a total of 239 business ideas have been submitted for assessment from all HD Hyundai affilia

Industry July 10, 2023

LG Energy Solution, the world's second-largest battery maker, said Friday it has inked a long-term deal with Chilean lithium producer SQM for the key electric vehicle battery component. Under the agreement, SQM is set to supply 100,000 metric tons of lithium to LG Energy Solution over the next seven years, beginning this year through 2029. The supply would be able to power 2 million all-electric vehicles, making it the world's largest single purchase agreement in scale. This agreement

Industry July 7, 2023

Hyundai Glovis, a logistics affiliate under Hyundai Motor Group, announced Thursday that it has forged a partnership with The Ocean Cleanup, a Netherlands-based nonprofit organization, to join international efforts to remove plastic waste from the ocean worldwide. Under the partnership, Hyundai Glovis will utilize its vessels to gather information on marine waste. Special cameras will be attached to its vessels to identify the location and the size of the plastic waste. The information collect

Industry July 6, 2023

South Korean tire maker Kumho Tire said Thursday it has signed a sponsorship deal with AC Milan, the renowned Italian professional football club based in Milan, for five seasons through the 2027-28 Serie A season. The signing event was held at the club’s headquarters Casa Milan with top executives including Kumho Tire CEO Jung Il-taik and AC Milan CEO Giorgio Furlani in attendance. AC Milan, established in 1899, is one of the top European football clubs with a total of 19 league titles. Un

Industry July 6, 2023

South Korean proptech startup Urbanbase said Wednesday it has won a patent dispute against its local rival Archidraw. Putting an end to their two-year legal battle, a Seoul patent court recently ruled in favor of Urbanbase, invalidating all patents previously registered by Archidraw. Urbanbase is an artificial intelligence-based tech firm equipped with 3D interior simulation and high-resolution 8K rendering technologies. It offers comprehensive furnishing services for both individual and corpo

Industry July 5, 2023

LG Group is betting big on art to enhance its brand value globally. The nation’s fourth-largest conglomerate has been actively expanding partnerships with global art museums and institutions to spur artistic innovations and sponsor digital artists. In June last year, the group’s key affiliates -- including LG Corp., LG Electronics, and LG Display -- forged partnerships with Guggenheim Museum, a globally renowned modern and contemporary art museum in New York, under the LG Guggenheim

Technology July 5, 2023

SK Square, the investment arm of SK Group, said Tuesday that it has set up a semiconductor investment company in Singapore, with a total investment of 100 billion won ($77 million) together with SK hynix, Shinhan Financial Group and LIG Nex1 and others. The new firm, TGC Square, aims to finance global and domestic chip companies specializing in manufacturing and supplying semiconductor components and equipment. The company plans to spend nearly 60 percent of its initial investment funds on Japan

Industry July 4, 2023

Mirae Asset Securities announced Friday that it received a grade A for its sustainable management by local ESG ratings agency Sustinvest, becoming the only securities firm to earn the top ranking. The latest recognition comes as the company has ramped up sustainability efforts since it started releasing its own sustainable management report in 2006. The company said establishing medium and long-term goals for ESG criteria and taking systematic steps to fulfill the goals with sub-level tasks cont

Industry July 2, 2023

Come In Wash has established itself as a leading company in the automatic car wash industry, winning accreditations from various institutions for its technological prowess. The company first garnered attention from the industry for its high-quality car wash services using an automatic, “no-touch, no-brush” car wash which became patented in 2019. In recent years, the company has earned recognition at home and globally. In 2021, it won a tech award from the Ministry of SMEs and Startup

Industry June 28, 2023

"Am I the one who has to pay this time?" is a question that often troubles many South Korean couples whenever they are about to pay the bill at a restaurant. Traditionally, people believed that men should pay most of the dating expenses, but such rigid gender norms no longer hold water as more couples have started to value fairness. Indeed, a staggering 83.2 percent of those with dating experiences reported having argued with their partner over “how to split bills,” accor

Culture April 29, 2023