Korea Gas Corp. aims to take the lead in the global market with its liquefied natural gas business on the back of its stable business at home. Liquefied natural gas is widely considered a “clean” fuel because dust, sulfur and nitrogen are removed in the liquefaction process, therefore lower levels of pollutants are emitted when it burns. It also presents a lower risk of explosion even if it leak...

Ongoing negotiations toward an ASEAN-led mega trade deal will benefit South Korea by opening doors to new export markets -- particularly the world’s fastest-growing economy, India. Negotiations for the Regional Comprehensive Economic Partnership, launched in 2012, involve 10 ASEAN members and six Asia-Pacific countries: Korea, Australia, China, India, Japan and New Zealand. On Wednesday last wee...

SK Innovation has been selected as a supplier of battery cells for electric vehicles of German automaker Volkswagen Group, becoming the group’s third partner, along with LG Chem and Samsung SDI, according to SK Innovation on Wednesday. Under the automaker’s road map “E,” Volkswagen plans to unveil 50 types of electric cars by 2025, based on its MEB platform, a modular car platform for electric c...

Naver Labs, the research and development arm of search engine giant Naver, and local car-sharing firm SoCar have signed an agreement to cooperate in the development of driver assistant technologies and detailed maps based on self-driving technologies, according to the firms on Wednesday. Under the agreement, Naver Labs will be in charge of developing an advanced driver-assistance system and deta...

A paradigm shift is taking place in the Korean manufacturing sector as conglomerates are increasingly embracing smart manufacturing with the goal of improving production efficiency and reducing risks using technologies of artificial intelligence, big data and internet of things, according to the patent office on Tuesday. Smart manufacturing is artificial production processing with the goal of op...

The Korean government on Wednesday denied the Japanese government’s claim that Seoul breached international trade rules, saying its decision to provide subsidies to ailing shipbuilders complies with the rules. Officials at South Korea’s Trade Ministry said they are willing to talk with their Japanese counterparts, amid reports that Japan is preparing to file complaints to the World Trade Organiz...

LS Cable & System is slated to join a communications network building project that is being financed by the Asian Infrastructure Investment Bank, according to the firm on Tuesday. The nation’s largest cable provider said it was selected as one of the companies that will build a broadband communications network in Oman led by its government and state-run mobile operator Oman BroadBand. The broad...

South Korean companies doing business in Iran are facing uncertainty now that sanctions have been reimposed on the Middle Eastern country, despite the waiver that Korea received. They say their business could suffer as the exemption is temporary and is strictly limited to oil. On Monday, the Trump administration said all the sanctions against Iran that were lifted as part of the 2015 nuclear dea...

Korea aims to attract a total of 80 trillion won ($71.2 billion) of investment from both Korean and foreign companies to the nation’s free economic zones over the next decade by attracting Korean anchor companies and giving more benefits to new industries and service sectors, according to the government on Monday. Korean Free Economic Zones are specially designated areas created to improve the b...

SK hynix has developed the world’s first 4D NAND flash memory using both Charge Trap Flash and Peri Under Cell technologies, with a plan to start mass production this year, according to the chipmaker on Sunday. SK hynix said it developed 96-layer 512-gigabit NAND flash, named CTF-based 4D NAND Flash to distinguish it from current 3D NAND flash technologies. The NAND flash memory chip is widely ...

Korean tech firms are under increasing pressure from global companies, environmental activists, local governments and politics to expand the use of renewable energy, reflecting growing calls to protect the environment and fight climate change. Last week, Korean chipmaker SK hynix announced it would obtain its power 100 percent from renewable resources for its overseas plants by 2022 and reduce g...

Lee Noh-hyun, 32, who introduces himself as a “taeeumin,” or a person with the taeeum physiological type, said he has been trying to eat more beef and less chicken and pork since he was told of his type by his Korean medicine doctor. “Although I don’t have blind faith in the relation between the diet based on physiological type and health, I can’t still completely ignore it because Korean medici...

KOTRA is set to host two networking events this week in the US to connect Korean car parts suppliers with American business and trade experts, according to the government agency on Monday. The events are a response to recent changes in the US automobile market, which are expected to have a severe impact on Korean companies. In May, the US began inspections of imported automobiles and parts with...

Despite uncertainties stemming from UN sanctions against the North, preparations should still be made for resources development in North Korea, such as setting up an inter-Korean cooperative body, personnel exchanges and joint research, South Korean mineral experts have said. Speaking at a forum last week, they said approaches to North Korea for co-development should focus on persuading the Nort...

The Korea International Trade Association and the Korean German Chamber of Commerce and Industry co-hosted a networking day in Seoul on Thursday to match German companies with Korean startups, according to KITA on Friday. The event was attended by German companies including SAP, Allianz, Porsche, BMW and Bosch as well as nine local startups. The local businesspeople pitched their products and ta...