Posco Chemical and General Motors will form a joint venture and build a factory in North America to locally produce key electric vehicle materials, the two companies announced Thursday. Once completed in 2024, the new facility will produce and supply cathodes to Ultium Cells, a joint venture between GM and LG Energy Solution, which is building two EV factories in Ohio and Tennessee. Though size and location remain unclear, this is Posco Chemical’s first expansion to the US Cathodes ar

Fears over the omicron coronavirus variant are dashing hopes for the resumption of overseas travel, forcing many to cancel or postpone travel plans, including honeymoons, only a month after the country's "living with COVID-19" policy revived expectations for a return to normal. South Korea confirmed five omicron infections a day earlier, the first local cases of the fast-spreading COVID-19 variant, forcing authorities to tighten passenger screening and other antivirus quarantine measu

South Korea's consumer prices rose at the fastest pace in nearly 10 years in November due to surging energy costs and high prices of farm products, data showed Thursday, underscoring a build-up in inflationary pressure amid economic recovery. The consumer prices increased 3.7 percent in November from a year earlier, accelerating from a 3.2 percent on-year gain in October, according to the data compiled by Statistics Korea. Consumer inflation rose 0.4 percent in November from a month ago. It m