Shipbuilding rivals vie to boast warship technologies in Busan this week

In the first half of this year, the company plans to launch new theaters for its corporate clients, including Hyundai Motor, Jeju Shinhwa World Marriott Resort and Homeplus. “When a growing number of multiplex cinemas are closing, I think it’s meaningful to create a new business model for theater operators. By 2030, we aim to build at least 4,000 Monoplex locations,” Seok said. Seok also introd...

Hanjin Group Chairman and Korean Air CEO Walter Cho received the Excellence in Leadership Award by Air Transport World, the company said Sunday. The award ceremony was held at the Grand Cevahir Hotel in Istanbul, Turkey, on Friday, Korean Air said. The award was established in 1974 by ATW, a publication covering global air transportation, and is one of the most prominent awards in the industry,...

Posco has launched the country’s first low-carbon steel product in line with the steelmaker’s ambitious goal to achieve carbon neutrality by 2050, the company said Sunday. LG Electronics has become the first client to purchase the newly-launched low-emission steel product for the company’s home appliances production, the company added. Posco’s new steel product, named Greenate certified steel, ...

SK Group announced Sunday that the total social value generated by its key affiliates last year was 20.5 trillion won ($15.6 billion), up 1.6 trillion won or 8.6 percent from the previous year. Social value refers to the degree to which companies have contributed to solving or alleviating social problems facing stakeholders. The nation’s second-largest conglomerate has unveiled the value of its...

Lotte Group Chairman Shin Dong-bin (sixth from left) joins the group’s promotional activities to support Busan’s 2030 World Expo bid during the 2023 Lotte Open of the Korea Ladies Professional Golf Association’s Tour held at Bear’s Best Golf Club in Cheong-na, Incheon, on Saturday.

Hyundai Oilbank is ramping up efforts to fulfill its environmental, social and governance goals by accelerating its sustainable businesses and contributing to social enrichment, the company said Friday. As part of the efforts, the company is set to build an eco-friendly power plant that uses both liquefied natural gas and blue hydrogen as fuel. Hyundai E&F, the oil company's power generation af...

Shin Ho-cheol, the vice president of Kakao Pay also known as Simon Shin, has been appointed as a board member of the US brokerage firm Siebert Financial. This appointment follows the online payment unit of South Korean tech giant Kakao Corp.'s recent announcement of its intention to acquire a majority stake of up to 51 percent in Siebert with a total investment of approximately $77.38 million. ...

LG Chem CEO Shin Hak-cheol traveled to Japan to host a recruitment event, as the company seeks talent to boost its material, biotechnology and equipment sectors, the chemical firm said Friday. Shin hosted the “Business and Campus Tour” at the Intercontinental Tokyo Bay Hotel on Thursday, which invited some 40 doctoral candidates and master's students in science and engineering from seven major u...

Meta CEO Mark Zuckerberg unveiled the Quest 3, his company’s latest virtual and mixed reality headset, via social media on Thursday, teasing the product before rival Apple’s similar launch expected next week. In a video on Instagram, Zuckerberg showed the Quest 3, which releases in fall. Meta said the latest headset features higher resolution, stronger performance with Meta Reality technology a...

Shinhan Bank encountered a currency exchange system error around 9:30 a.m. on Thursday. As a result, currency-related services, including overseas remittances, were temporarily suspended for approximately 2 1/2 hours until the system was restored at around noon. "We made sure that for clients who requested overseas remittances during the service outage, we apply the exchange rate at the time of...

South Korean handbag maker JS Corp. said Friday it recently lent 100 billion won ($76 million) to its affiliate JS 747, in its effort to gain a controlling stake in Grand Hyatt Seoul, a historic five-star hotel located in central Seoul. In a regulatory filing, JS Corp. reported it decided to lend a total of 100 billion won, which amounts to 39.14 percent of the firm's total equity, to its subsid...

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 na...

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 fir...