South Korean oil refiner S-Oil is continuing to recognize those who performed acts of heroism and made the world a better place, over the past years. Under the values of sharing, S-Oil has delivered financial contributions and hosted an annual award ceremony for brave neighbors. These heroes include firefighters, Coast Guard officers, and citizens who rescued others in dire situations, putting the needs of others above their own. Since 2006, the firm has been awarding firemen to recognize them a

Industry Jan. 9, 2024

Pernod Ricard Korea, the Korean unit of the French wine and spirit giant, said Monday it has donated 40 million won ($30,385) to the Corea Image Communication Institute, or CICI, to help boost the nation’s global image in 2024. Adding to its financial contributions, the company also aims to provide some essential supplies for the events organized by the foundation this year. It will start by sponsoring the upcoming “CICI Korea 2024” on Wednesday, an annual award ceremony honori

Industry Jan. 8, 2024

South Korea’s largest beer maker, Oriental Brewery, made efforts to broaden its outreach to Generation Z and university students in 2023, in a bid to more closely communicate with young consumers. In November and December, OB CEO Ben Verhaert gave lectures on OB’s marketing strategies at Korea University and Ewha Womans University, where he was able to meet face-to-face with students. Verhaert has built a strong career in the sales and logistics fields at Anheuser-Busch InBev -- the

Industry Jan. 8, 2024

South Korea’s exports of Korean instant noodles, also known as ramyeon, reached a new record high of nearly $1 billion (1.31 trillion won) in 2023, according to government data and industry sources, Sunday. According to data from Korea Customs Service, annual ramyeon exports were tallied at $952 million last year, a 24.4 percent jump from $765 million in 2022. The outbound shipments of ramyeon logged $785 million for the January-October period in 2023, breaking the previous year’s re

Industry Jan. 7, 2024

South Korean game developer and publisher Nexon is steering the future of the gaming industry with Intelligence Labs, an in-house AI research and development team designated to exploring the optimal gaming experience for users. Launched in 2017, Intelligence Labs has used machine learning and deep learning to come up with more engaging and immersive games. A team of around 700 engineers is now zeroing in on generative artificial intelligence research to create original, personalized content for

Technology Jan. 5, 2024

South Korean health care solutions provider Ceragem said Wednesday it will make its debut at the upcoming CES 2024, slated for next week in Las Vegas, to strengthen global partnerships and unveil the latest version of its flagship therapeutic thermal massager. In a 330-square-meter exhibition booth, Ceragem will present its Master V9, equipped with an upgraded massage module -- massage rollers -- as well as a reclining-back function. Besides the massager, Ceragem will also present new health car

Industry Jan. 4, 2024

Mirae Asset Financial Group Chairman Park Hyeon-joo has decided to donate 25 percent of his stake in Mirae Asset Consulting to the group's charity foundation in phases, the company said Tuesday. The stock will be gifted to the Mirae Asset Hope Foundation, a charitable entity established in 1998 to nurture and help the younger generation, from college students to children and teenagers, to gain a foothold in society via scholarships and improved education infrastructure. “I hope this d

Industry Jan. 2, 2024

Daewoo Engineering & Construction said Friday it has officially opened its digital theme park, Ice Jungle, on Phu Quoc, a tropical island in Vietnam known for water sports and recreation. The 13,000-square-meter theme park is located at Meyhomes Capital Phu Quoc, a residential complex constructed in partnership with Daewoo E&C, near Truong Beach. While some 700 visitors joined the opening ceremony held on Dec. 16, Ice Jungle officially opened to the public on Christmas Day. The park is t

Industry Dec. 29, 2023

Han Sung Motor, the largest Mercedes-Benz car dealer in Korea, is proactively making meaningful contributions to society by pushing for diverse corporate social responsibility activities. Since 2012, the car dealer has been running its flagship art scholarship program titled the Dream Gream project, which sponsors middle and high schoolers talented in the arts until their graduation. “Gream” comes from the Korean word “geurim,” which means “painting” in Korean

Industry Dec. 28, 2023

Posco Holdings said Wednesday it has joined forces with a Chinese cryogenic equipment and engineering firm to produce rare gases essential for chip fabrication in South Korea, securing a domestic supply chain. Rare gases, or noble gases, are a group of chemically inert gases that include krypton, neon and xenon. While found in extremely small amounts in the atmosphere, these gases are widely used in the production of semiconductors, displays and satellite technology. On Friday, Posco Holdings an

Industry Dec. 27, 2023

Air sterilization solutions provider A.Virtual won a special award from the Korea Association of Technology Commercialization in this year’s presentation for the “new growth engine industry commercialization supporting project,” Monday. This project connects small and medium-sized enterprises specialized in the promising industrial sectors -- electric and autonomous vehicles, internet of things, renewable energies, biohealth, semiconductors and displays -- with technology comme

Industry Dec. 21, 2023

South Korean battery materials manufacturer EcoPro said Wednesday it has decided to establish a foundation for arts and culture in provinces beyond the Seoul area. While the nation’s investment in arts and cultural infrastructure is usually concentrated in Seoul, the foundation aims to seek a balanced development in provinces. EcoPro will later diversify its philanthropic portfolio to educational sectors, the firm added. EcoPro will first contribute some 100 billion won ($76.96 million) to

Industry Dec. 20, 2023

South Korean food and beverage manufacturer Dongsuh Foods welcomes customers to experience a cozy winter at Maxim Plant, a cultural center with a cafe featuring its flagship coffee brand. Located in Hannam-dong in central Seoul, the cultural space was opened in 2018, with the aim of introducing its coffee brand Maxim. Calling itself “a garden in the city, a coffee factory in the forest,” Maxim Plant is a dedicated space to display its roasting expertise and manufacturing process, whi

Industry Dec. 20, 2023

Business lobby group Korea Chamber of Commerce and Industry held a meeting with delegation of the Movement of the Enterprises of France (MEDEF), the largest employer federation in France, to discuss ways to develop cooperation in the fields of human resources and business between the two countries. Hanwha TotalEnergies Petrochemical CEO Laurentius Na, who was recently named by the KCCI to lead business cooperation with France held talks with his counterpart Air-Liquide CEO Francois Jackow who

Industry Dec. 19, 2023

Swedish electric-vehicle maker Polestar recently announced its plan to produce the new all-electric Polestar 4 at Renault Korea Motors’ Busan plant in 2025. The new partnership comes as Polestar, a spinoff from Volvo in 2017, is seeking to secure a bigger footing in the burgeoning EV market with a more diversified product lineup from the Polestar 2 sedan and the Polestar 3 sport utility vehicles to the latest Polestar 4 coupe-styled SUV. At a time when it is crucial to beef up its produc

Mobility Dec. 17, 2023