South Korea’s Ministry of Land, Infrastructure and Transport held an international webinar Thursday to actively promote Gangwon Province’s Gangneung as a candidate city for the 2025 ITS World Congress. The ITS World Congress, dubbed the “Transportation Olympics,” is the world’s largest exhibition and academic conference in the field of intelligent transport systems that began in Paris, France in...

Posco CEO Choi Jeong-woo has suggested the global steel industry jointly respond to structural changes accelerated by coronavirus and find sustainable growth measures at a recent steel conference, the firm said Wednesday. On Tuesday, Choi gave a keynote speech on the theme of Post-COVID-19 megatrends at the Steel Success Strategies conference hosted online by World Steel Dynamics. WSD is a US-b...

Posco International was selected as the grand prize winner in the ESG segment at the 2020 Outstanding Companies Awards hosted by the Korea Corporate Governance Service, the firm said Tuesday. The firm said its efforts and achievements in promoting sustainable management had been recognized by winning the prize for two consecutive years. The KCGS is an organization that conducts evaluation, rese...

Kim said he is proud that many AmCham member companies, such as AWS, IBM, Microsoft, Google and Facebook, are all here to accelerate the transformation. “The Korean government’s leadership in the digital new deal and the US companies’ eagerness for more opportunities to collaborate is what makes it very successful. Over time I expect to see even more collaboration between Korean companies and US...

As the COVID-19 pandemic has profoundly affected a restructuring of the economy, there is an increasing demand for in-depth discussions on changing consumer patterns, working environments, business regulations and new economic growth engines. Against this backdrop, The Korea Herald has called on experts in fields who have successfully demonstrated leadership in evolving business strategies and n...

Although long anticipated throughout his years spent in hospital, the passing of Samsung Group Chairman Lee Kun-hee shook the nation Sunday morning. With Samsung Group formally confirming the late Lee’s passing, reporters flocked to the funeral hall of Samsung Medical Center in Ilwon-dong, Seoul, despite the conglomerate’s message that they would “courteously refuse any visits or presents of con...

Samsung Group Chairman Lee Kun-hee, 78, had turned Samsung into a global technology powerhouse and laid the foundation for the rapid growth of the South Korean economy. He died Sunday. With his death, Samsung formally enters a new era under the leadership of his son, Lee Jae-yong, who has come to the fore to succeed him at the helm of the conglomerate since 2013. Lee Kun-hee had been bed-ridd...

Posco International said Thursday it imported 68,000 metric tons of feed wheat from Ukraine, for the first time in South Korea, a move to secure a stable grain supply system for the nation. Of the total, 41,000 tons were imported through the Ukrainian grain terminal invested in by the trading company. The imports were made in partnership with Nonghyup Feed, the largest feed grain importer in Kor...

Shin Yu-yeol, the only son of Lotte Group Chairman Shin Dong-bin, joined Lotte Japan earlier this year, the group confirmed on Wednesday. His educational and career path resembles his father’s corporate journey. Shin went to Keio University, got a management degree from Columbia University and previously worked at Nomura Singapore. His father also began his career at Nomura London when he was 2...

GM introduced Wednesday the brand‘s first super truck, Hummer EV, developed to forge new paths with zero emissions. It will be the first fully electric addition to GMC’s lineup, GM said, adding that it would be driven by next-generation propulsion technology that enables advanced off-road capability, on-road performance and an immersive driving experience. GMC is a division of GM that primarily...

Posco International said Wednesday it would partner with Seoul Techno Holdings to foster startups with global potential. The trading firm signed a business agreement with the tech firm of Seoul National University in Seoul to help local startups advance into the global market. The event was attended by Posco International CEO Joo Si-bo and Seoul Techno Holdings President Mok Seung-hwan. With t...

The Korea International Trade Association’s open innovation venue Startup Branch is becoming a mecca for innovative growth among local and global firms. According to KITA, it has been 500 days since the venue opened. Startup Branch was set up at Coex in Samseong-dong, southern Seoul, in June last year to create a domestic startup ecosystem and encourage global scale-ups. Since that time, leadin...

What stood out at first sight was its enormous size. The body is 5,395 millimeters long, 1,885 millimeters wide and 1,795 millimeters high, and the wheelbase is 3,258 millimeters. It is much larger than a large sport utility vehicle. The test drive focused on the Colorado’s off-road driving performance. GM Korea created an off-road course with muddy roads, rocky roads, puddles and steep slopes n...

Chung Euisun became the official chairman of Hyundai Motor Group on Wednesday, seizing full control at a critical juncture when the manufacturing mammoth is positioning itself as a mobility solutions leader. The group said Hyundai Motor, Kia Motors and Hyundai Mobis had held an extraordinary board meeting in the morning and unanimously approved Chung’s appointment as chairman. His father -- out...

Hyundai Motor Group Executive Vice Chairman Chung Euisun is set to take the helm of the nation’s largest automaker through the group’s emergency board meeting on Wednesday morning, according to industry sources on Tuesday. This promotion is interpreted as reflecting growing concerns that a chairman should lead the group and has responsible management as the automobile industry has been suffering...