Hillstate Gayang flats in Daejeon to go on sale

Some 350 flats at Hyundai Engineering & Construction's new apartment complex, Hillstate Gayang The Wise, located in Gayang-dong, Daejeon, will go on sale in December. The 358 units at the three-building apartment complex range from 84 square meters to 155 square meters. At 49 stories high, Hillstate Gayang The Wise will become the tallest residential building in East Daejeon. Residents are expected to move in starting from next October. The complex is right next to the Daejeon bus termi

Nov. 29, 2023

Yuhan-Kimberly wins first GMP certification for sanitary pads

Yuhan-Kimberly, the country’s leading hygiene product manufacturer, earned the first Good Manufacturing Practice recognition for a sanitary pad manufacturing facility. The firm on Wednesday said its factory in Chungju, North Chungcheong Province, acquired the Ministry of Food and Drug Safety’s GMP accreditation, awarded to manufacturers that meet the authority’s production and quality control standards. The Chungju plant is Yuhan-Kimberly’s manufacturing base for its fema

Nov. 29, 2023

Korean Air orders 20 Airbus A321neo aircraft

Korean Air, South Korea's leading airline, said Wednesday that it has ordered 20 additional Airbus A321neo aircraft, as part of efforts to deliver a modern flight experience to its customers. With the latest order, the total number of its A321neo aircraft has reached 50. The Airbus A321neo is a small-sized, single-aisle airliner with a total of 182 seats. Its eight "Prestige" seat options in business class allow travelers to relax comfortably on a 180-degree fully horizontal sea

Nov. 29, 2023

KT SAT to integrate Starlink for rapid, robust maritime internet

KT SAT, Korea's sole satellite service provider, announced Wednesday its plan to enhance its maritime communications service by integrating SpaceX's Starlink satellite technology. With this integration, KT SAT aims to address the growing demand for more robust and higher-speed internet at sea, driven by factors such as increased data usage on modern, sensor-equipped ships for optimizing routes and remote technical assistance. Starlink's network promises high-speed, low-latency per

Nov. 29, 2023

Samsung Biologics sees highest-ever annual orders

Samsung Biologics said Tuesday that the company has signed five contract manufacturing deals to bring the total value of its annual orders this year to an all-time high of 3.48 trillion won ($2.7 billion). According to Samsung Biologics’ regulatory filing, the company has recently inked one new and four expanded deals with a pharmaceutical company based in Asia. The five contracts are worth a total of around 761 billion won, the company said. The new CMO deal is worth 589 billion won, and

Nov. 28, 2023

LS Materials to tap deeper into EV, green energy markets

LS Materials, a South Korean energy storage device manufacturer, said on Tuesday the firm will further solidify its presence in sustainable energy and technology markets with the fund it would raise from its upcoming initial public offering slated for next month. As the company prepares to list on the secondary Kosdaq market, it's positioning itself as a pivotal player in emerging green industries, including ultra capacitors and electric vehicles. "We're seeking a third location f

Nov. 28, 2023

China’s AliExpress eyes expansion in Korea

AliExpress, an online direct purchase platform owned by Chinese e-commerce giant Alibaba Group, is considering whether to set up a massive logistics center in South Korea in a sign of business expansion, according to industry sources on Tuesday. “Given the extent of AliExpress’ expansion here, the company would need at least five logistics centers to manage products upon their arrival in Incheon (the nation’s main international gateway),” an industry told The Korea Herald

Nov. 28, 2023

Samsung's Harman acquires audio platform Roon

Harman, Samsung Electronics' audio and automotive component subsidiary, said Tuesday it acquired Roon, a popular music player platform, to strengthen its home audio business. Roon is a music player platform for enthusiasts, featuring a rich interface for browsing and discovering music, compatibility with almost any audio device and a playback engine designed to deliver the best possible sound, according to Samsung. Roon is available on all popular operating systems, and the firm also manu

Nov. 28, 2023

KIPO chief strengthens IP alliances with Middle Eastern counterparts

The Korean Intellectual Property Office has moved to strength relations with authorities in the Middle East to pursue cooperation in intellectual property fields, ranging from manpower training to patent information utilization. According to the KIPO, its commissioner, Lee Insil, held a series of meetings with her Middle Eastern counterparts during an official visit to the United Arab Emirates and Saudi Arabia on Oct. 20-22. Lee and Abdulla Al Saleh, the UAE's undersecretary for the Economy

Nov. 28, 2023

Hyundai Motor to halt Asan factory in Korea for EV factory construction

Hyundai Motor plans to halt its factory in Asan, South Korea, to construct an electric vehicle plant in the period between Dec 31. 2023 to Feb. 13 2024, the South Korean automaker said in a regulatory filing on Monday. Hyundai Motor said it plans to resume operations at the Asan factory on Feb. 14.

Nov. 27, 2023

Posco to start search for new chief

Posco Group will hold a board meeting next month possibly to start its search for its new chairperson, according to industry sources on Monday. It remains to be seen whether Posco Chairman and CEO Choi Jeong-woo will seek a third term. His second term ends in March next year. Under the group’s internal policy, the current CEO should be reviewed first if he wishes to run for another term. But sources say the group is likely to revise the rule amid growing calls for a more transparent CEO se

Nov. 27, 2023

K-water to support rebuilding of Ukraine's Bucha suburb

Korea Water Resources Corp., or K-water, announced Monday it has signed an agreement with Ukraine's war-torn suburb of Bucha to support its recovery and the construction of an industrial complex there. The state-run public water management company on Friday signed a memorandum of understanding with Bucha to cooperate on the area's recovery and the refurbishment of a water facility system. The deal was inked at the agency's Hangang River Basin Management Division in Gwacheon, Gyeon

Nov. 27, 2023

Samsung sets up control tower for new growth drivers

    Samsung Electronics announced the establishment of a new team in charge of exploring future business items, appointing a top-level Samsung veteran as the team's inaugural head in the company's annual leadership reshuffle Monday. No changes were made in the company's two-CEO system, with Han Jong-hee and Kyung Kye-hyun maintaining their respective seats as device and chip business division chiefs. Industry sources say the tech giant has opted for stability rather than seeking a dras

Nov. 27, 2023

KB chief vows to nurture AI talents

KB Financial Group Chairman Yang Jong-hee on Friday stressed his will to nurture young tech talent in the field of artificial intelligence, calling digital finance not an option but a must for the financial giant’s sustainable growth. "IT and digital are no longer means to support the bank, but a core sector that will lead the businesses at the forefront," the chairman said at the group’s AI forum held in Seoul on Friday. "We must shift our perspectives from in-perso

Nov. 27, 2023

SKT secures ifland partnerships in Southeast Asia

SK Telecom, South Korea’s leading telecommunications carrier, on Monday said it has secured new partnerships with three IT companies based in Southeast Asia, aiming to boost the number of global users of its metaverse platform, ifland. Launched in 2021, SKT's ifland is a metaverse platform where users can build their digital avatars to interact in virtual spaces. Eyeing the global market, the South Korean telecom company inked three memoranda of understanding with Celcom Digi, the lar

Nov. 27, 2023

Korea, Brazil strengthen ties via new trade framework

South Korea’s Industry Ministry on Friday said it launched a new strategic partnership with Brazil, to enhance trade ties and investment cooperation in green energy and digital technology sectors. During the Vice Minister of Development, Industry, Commerce and Services Marcio Elias Rosa’s two-day visit to Seoul, he met with Trade Minister Ahn Duk-geun to sign the “Korea-Brazil Trade and Investment Promotion Framework,” or TIPF, in Seoul, Friday. “We will deepen the

Nov. 26, 2023

LG, UNESCO partner to promote AI ethics

LG AI Research, LG Group's artificial intelligence think tank, said Sunday it has signed a letter of intent with UNESCO in Seoul to jointly foster knowledge and awareness of the ethics of AI. LG highlighted the agreement as the first of its kind, where UNESCO has partnered with a Korean firm to promote the ethical development and use of AI technology. Under the letter of intent, the two sides agreed to advance AI technology that would contribute to both humanity and sustainable development,

Nov. 26, 2023

Posco's charity foundation donates W90b

South Korean steel giant Posco Group marked the 10th anniversary of the Posco 1% Foundation, the group's social outreach body, highlighting the voluntary participation of employees and executives as the key to long-running donations. Established in 2013, Posco 1% Foundation is financed by its employees who make regular donations using 1 percent of their monthly wages. As of 2023, over 98 percent of Posco’s workers are participating in programs to help support underprivileged communi

Nov. 26, 2023

LG infuses year-end reshuffle with younger fresh blood, focuses on performance

LG Group, the country’s fourth-largest conglomerate, announced its year-end executive reshuffle on Friday, seeking to infuse the top brass with younger blood. From Wednesday to Friday, affiliates of LG Group held board meetings to appoint three new chief executive officers and promote 136 executives. Among the 99 to become executives, 97 of them were born after 1970 and five were born in the 1980s, the conglomerate said. “The latest executive reshuffle sought to reform the leadership

Nov. 24, 2023

SK Group chief vows last-ditch effort to support Busan's expo bid

SK Group Chairman Chey Tae-won reinforced his commitment to supporting Busan’s bid to host the 2030 World Expo on Thursday, days before the final voting takes place in Paris to choose the host. Busan, South Korea's second-largest city, is competing against Saudi Arabia’s Riyadh and Italy’s Rome to host the global event. “When we first jumped into this international race, the prospect of Busan winning the expo bid seemed almost impossible," Chey wrote in an Insta

Nov. 24, 2023