Samsung Electronics Chairman Lee Jae-yong attended the awards ceremony for the Samsung Ho-Am Prize held in Seoul, Thursday, renewing his commitment to inheriting the group’s founding spirit of “patriotic industrial service,” according to company officials. It was the first time for Lee to take part in the annual event as chairman of the tech giant. The Samsung Ho-Am Prize, which uses the pen name of Samsung Group’s late founder Lee Byung-chull, was established in 1990 by

Lee Bok-hyun, chief of the Financial Supervisory Service, on Thursday emphasized the importance of the financial authority participating in international investor relations events in enhancing the global presence of Korean financial firms. “We will continue to support the Korean financial group’s global expansion (over the next year),” Lee said at a press conference held Thursday to mark his first year in office. As the FSS head, Lee made an exceptional move by participatin

Posco Group Chairman Choi Jeong-woo said the group is paying extra attention to the inflation-triggered financial market volatility and the growing geopolitical risks. Choi added the group will overcome the difficulties by making aggressive investments in battery materials businesses, particularly those relating to the electric vehicle industry, during an interview organized by the Korea Society. The interview video was released by the non-profit organization on Wednesday. “The recent hike

South Korean builder Hyundai Engineering & Construction announced Thursday that it will begin pre-sales of its Hillstate Sunhwa the Wise – a residential and commercial apartment complex in Daejeon, some 160 kilometers south of Seoul. The complex consists of five 49-story buildings with a total of 851 units. The builder plans to offer the first installment deposit fixed at 10 million won ($7,500) and an interest relief guarantee to the contract holders. The complex, among others, boasts

Hyundai Mobis said Thursday it has begun the construction of its new electric vehicle battery system plant in Indonesia in its latest push for expansion into Southeast Asia’s burgeoning EV market. The automotive parts unit affiliated with Hyundai Motor Group held a groundbreaking ceremony for the plant in West Java, along the outskirts of Jakarta, on Wednesday, with local government and company officials in attendance, including Governor of the West Java Province Mochamad Ridwan Kamil and

US chip giant Intel, which takes up over 70 percent of the global CPU market, is expected to establish a semiconductor data center development lab in Seoul to ramp up cooperation with major chipmakers here. The tech giant revealed the plan to build such research facilities in six countries, which also include the United States, Taiwan, China, India and Mexico, at Intel Vision 2023 last week in Taiwan, according to industry sources here on Thursday. In Seoul, the envisioned facility will be dubbe

HD Korea Shipbuilding & Offshore Engineering Co. said Thursday it has won a 1.24 trillion won ($937 million) order to build five very large container carriers for a Taiwanese shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding & Offshore Engineering's three affiliates, will construct the 15,500 twenty-foot equivalent unit ships in its shipyard in the southeastern port of Ulsan, the shipbuilder said in a regulatory filing. The container vessels powered by liquefi

Daewoo Engineering & Construction's Chairman Jung Won-ju, who doubles as vice chairman of Jungheung Group, met with Turkmenistan's president and other top officials to discuss new business projects in the Central Asian country, the South Korean builder said Wednesday. According to the company, Jung met with Turkmenistan’s de facto leader Gurbanguly Berdymukhamedov, the former president who currently serves as chairman of the People’s Council, in the capital city of Ashg

Samsung Electronics said Wednesday it has donated over 230 million won ($174,000) by launching a socially responsible campaign in May, driven by employee participation, to support 20 children from low-income households. Samsung’s chairman Lee Jae-yong, who has reportedly made numerous anonymous donations, is trying to spread a culture of donation throughout affiliates of Samsung Group. The Month of Sharing campaign was designed to encourage Samsung employees’ donations through the Na

Posco International and LX International said Wednesday that they have teamed up to complete a new massive LNG terminal in Dangjin, South Chungcheong Province, by 2027. The two companies signed an agreement the same day with the city and provincial governments to expedite the project. The Dangjin LNG Terminal will be located on a 193,000-square-meter site at a port in the city of Dangjin. The size is equivalent to about 27 soccer fields. The terminal will consist of two 270,000-kiloliter storage

SK Networks' US investment subsidiary, Hico Capital, announced Wednesday that it will pursue a partnership with global venture capital firm Bow Capital as part of efforts to nurture promising startups and bet on their growth potential. The latest partnership comes after their top executives, including SK Networks President and Chief Operating Officer Choi Sung-hwan and Bow Capital Chairman Vivek Ranadive, held a meeting in Silicon Valley on Tuesday (local time). During the meeting, the two

The American Chamber of Commerce in Korea hosted the AmCham ESG Seminar 2023 on Wednesday to provided a platform for attendees to discuss the latest trends and best practices related to environmental, social and governance issues. "In light of AmCham's mission to establish Korea as a regional headquarters in the Asia Pacific, we recognize the immense potential of ESG in driving innovation and value creation for Korea," AmCham CEO James Kim said during the seminar held at the Four

Merck said Wednesday it introduced new barrier materials that offer superior flexibility, higher reliability and longer lifespan in flexible OLED devices, when compared to existing solutions. Fully flexible OLED displays utilized in foldable, rollable and stretchable devices require a reduction of about 60 percent of the display module’s thickness when compared to standard displays. But because OLEDs are highly susceptible to degradation by moisture and oxygen, an encapsulation or barrier

The mobile webpage of Naver, South Korea’s largest online portal, suffered a brief service disruption early Wednesday after North Korea launched what it called a military reconnaissance satellite. According to Naver, its the server went down for about five minutes, from 6:43 a.m. to 6:48 a.m. due to high traffic, soon after the Seoul Metropolitan Government issued an emergency alert text message urging people to prepare for evacuation at 6:41 a.m. The message said the city government had i

Finding a right local partner, enhancing brand awareness in overseas markets remain as crucial tasks