[Photo News] Polish President at Hanwha booth

Hanwha Group Vice Chairman Kim Dong-kwan (second from left) speaks to Polish President Andrzej Duda (third from left) during the MSPO defense trade show held in Kielce, Poland, Tuesday. During the booth tour, the Polish leader was briefed on Hanwha’s diverse defense technologies, including the 30,000-ton Jangbogo-III Batch-II submarine. (Hanwha Group)

Sept. 6, 2023

SK Ecoplant forays into Europe with Posco

SK Ecoplant, the construction and energy arm of SK Group, signed a memorandum of understanding with Posco International on Wednesday with an aim to foray into the European market with recycled plastic technology. On Tuesday, the companies secured their partnership at SK Ecoplant’s headquarters in central Seoul. Under the agreement, the two companies will cooperate on providing raw materials for recycled plastic, including the Recycled Polyester chip (RPET), to the Europe market. Made from

Sept. 6, 2023

KT bolsters ties with Canada’s Vector Institute for AI

KT Corp. said Wednesday that it discussed bolstering its partnership with Canada's Vector Institute, a nonprofit firm dedicated to artificial intelligence research, to advance its latest AI technologies. The two parties have already been collaborating in the area of AI research and business development since its partnership agreed in September last year. On Tuesday, Vector Institute CEO Tony Gaffney visited KT’s R&D center in Seocho-gu, Seoul, during which more concrete steps were

Sept. 6, 2023

S. Korean defense firms seek to bolster foothold in Poland at int'l arms exhibition

Major South Korean defense companies have showed off tanks, guided weapons and other key weapons systems at an annual arms exhibition under way in Poland, as they seek to solidify their presence in the European country on the back of successful deals signed last year. The 31st International Defense Industry Exhibition, or MSPO, got under way Tuesday for a four-day run in Kielce, Poland, after South Korean companies secured major deals last year to supply K2 tanks, K9 self-propelled howitzers, FA

Sept. 6, 2023

SK Enmove eyes growth in e-fluids, thermal management

SK Enmove, the lubricant-making unit of SK Group, on Tuesday unveiled its new ZIC e-FLO brand to expand its presence in the burgeoning energy-efficient fluid market for electric vehicles and data centers. The new strategy builds upon ZIC's legacy as a pioneering lubricant brand in Korea, evolving its range to focus on power efficiency, driven in part by the industry's broader shift toward sustainable energy solutions. "ZIC's vision now extends beyond traditional engine oils,

Sept. 5, 2023

DHL reveals Asia-Pacific's largest logistics gateway in Incheon

DHL Express Korea, the South Korean unit of the international express logistics service provider DHL Express, said Tuesday it started the full-fledged operation of a high-tech logistics terminal in Incheon after completing a three-year expansion project that has boosted cargo handling capacity threefold. The global logistics firm invested 131 million euros ($141 million) to renovate and expand the DHL Incheon Gateway in 2019 in order to transform the facility into the largest logistics gateway i

Sept. 5, 2023

GS Caltex, Korean Air test flying biofuel-powered flight

South Korean energy firm GS Caltex and the country's flag carrier Korean Air said Tuesday that an aircraft using biojet fuel aimed at decreasing the aviation industry's carbon footprint was scheduled to take off toward Los Angeles. During a pilot operation ceremony at Incheon Airport on Tuesday, Kim Chang-soo, GS Caltex's executive vice president and director of Mobility & Marketing; Cho Sung-bae, Korean Air's senior vice president of procurement; and representatives from

Sept. 5, 2023

Toss Bank mulls introducing house mortgage loans

Hong Min-taek, CEO of Toss Bank, the internet-only banking arm of fintech giant Viva Republica, said Tuesday that launching a house mortgage loan service is inevitable for the firm, but that it will wait for the right timing amid the government's efforts to curb household debt. Currently, Toss Bank is the only bank among the three internet-only banks, which also include KakaoBank and K-Bank, that does not offer house mortgage loans. KakaoBank and K-Bank account for 2 percent of the total ho

Sept. 5, 2023

[From the scene] Samsung shows off end-to-end automotive solutions at IAA 2023

MUNICH -- Samsung Electronics, the world’s No. 1 memory chip and smartphone maker, made its official debut at an international motor show, renewing its automotive ambitions as a “total solutions provider.” The South Korean tech giant set up its exhibition booth at IAA Mobility, one of the largest automotive trade shows, which kicked off Tuesday in Munich, Germany. In Hall B1 at the Messe Munchen exhibition center, Samsung’s booth was located next to those of its sister fi

Sept. 5, 2023

CJ Foodville to build US bakery plant in Georgia

CJ Foodville, operator of South Korean bakery chain Tous Les Jours, announced Tuesday that it has decided on a location in the state of Georgia to establish its first US production facility, as it seeks to open 1,000 bakeries in the country by 2030. The factory, construction of which is set to be complete by 2025, will occupy some 90,000 square meters in Gainesville, Georgia. With a capital investment worth over 50 billion won ($37 million), the factory is expected to have an annual output cap

Sept. 5, 2023

[Photo News] Confidence gets face-lift

Dong-A Otsuka on Tuesday unveiled new packaging for its flagship Confidence vitamin drink. The renewed design, while maintaining its signature yellow hue, features an eye-catching character that captures the unique shape of the drink bottle. The all-new youthful design is expected to appeal to millennials and Generation Z. Confidence, first released in 1995, is a caffeine-free fruit-flavored vitamin drink that also contains amino acids, electrolytes and minerals. (Dong-A Otsuka)

Sept. 5, 2023

KB women's golf championship to kick off this week

KB Financial Group is set to host its women's golf championship from Thursday through Sunday at the Blackstone Golf Club in Icheon, Gyeonggi Province, it said Tuesday. Called KB Financial Group Star Championship, the annual competition is a major tournament for the 2023 Korea Ladies Professional Golf Association Tour. With 1.2 billion won ($905,000) in prize money, including 216 million won for the winner, the tournament will see a number of South Korean star golfers contending for the titl

Sept. 5, 2023

Coway wins design awards at IDEA 2023

South Korean home appliance maker Coway said Tuesday its air purifier and water purifier have secured awards at the International Design Excellence Awards 2023, recognized for their innovative design. At this year’s IDEA, Coway achieved an impressive feat of winning silver and bronze awards with its Multi-Action Air Purifier 2 and Icon Max Free Water Purifier, respectively. Its Skin Plus Water Softener also earned notable recognition as a finalist. “We actively identify customers

Sept. 5, 2023

ACE Engineering CEO committed to going global

Ace Engineering plans to set up its exhibition booth at RE+ 2023, North America’s largest energy convention that kicks off next Monday. Calling the upcoming event a “stepping stone for growth,” CEO Danny You showed high expectations in meeting new clients and expanding the company’s presence in the all-important North American market and beyond. Last year, the company specialized in offering total solutions for energy storage systems posted record sales of 235.4 billion w

Sept. 5, 2023

ACE Engineering boasts total ESS solutions

Amid global trends toward building a sustainable future, Korean container manufacturer ACE Engineering is expanding its presence as the No. 1 energy storage system supplier. In 2018, the Intergovernmental Panel on Climate Change announced that the global temperature is expected to rise by around 3 degrees Celsius in the next 80 years. To prevent or lessen further climate crises, the panel called for the immediate action of global members to limit the temperature rise to 1.5 degrees Celsius by 20

Sept. 5, 2023

LG makes auto show debut in Munich

By Jo He-rim Korea Herald correspondent MUNICH -- Korean tech giant LG Electronics made its debut at a major global automotive trade show on Monday, delivering its ambition to expand its presence in the burgeoning mobility industry. In its first-ever press conference at IAA Mobility, one of the world's largest motor shows, held in Munich, LG CEO Cho Joo-wan defined the role of personal vehicles and underscored the growing presence of software in the mobility industry. “LG has spent

Sept. 4, 2023

LG Magna to set up EV parts plant in Hungary

By Jo He-rim Korea Herald correspondent MUNICH -- LG Magna e-Powertrain, a joint venture between LG Electronics and Magna, will build its first European production plant in Hungary, the company announced Monday at the IAA mobility trade show held this week in Munich. The 26,000-square-meter facility will be located within an industrial complex in Miskolc, a city in northeastern Hungary, adjacent to other Magna facilities and manufacturing clients in the region. With the construction set to b

Sept. 4, 2023

Homeplus awards kids for eco-friendly art

South Korean discount store chain Homeplus’ philanthropic organization, dubbed e-Blue Foundation, held the award ceremony for its 21st e-Blue Children’s Environmental Arts Contest at the National Assembly in Seoul on Aug. 19. Under the slogan, “Let’s make the Earth healthy with eco-friendly growth,” about 10,000 children participated in the contest, creating paintings with eco-friendly themes this May. Based on creativity, expression, harmony of composition and colo

Sept. 4, 2023

S. Korea to go all-out to lure 2 million Chinese travelers

South Korea's Ministry of Culture, Sports and Tourism announced Monday it will go all-out to draw back Chinese travelers to capitalize on China's recent lifting of its ban on group travel to dozens of countries, through measures such as exempting Chinese tourists from visa issuance fees and fostering the development of premium tourism packages. "We will aim to triple the number of Chinese tourists recorded in the first half of 2023 (500,000) in the second half of 2023, and ultim

Sept. 4, 2023

Posco International secures 90,000 tons of natural graphite

Posco International said Monday that it has signed two agreements to secure some 90,000 metric tons of natural graphite, bolstering its supply chain for the key material for secondary batteries. In a memorandum of understanding signed with Canada’s NextSource on Aug. 28, Posco agreed to invest in the company’s Molo Mine, one of the largest mines in Madagascar. The agreement is expected to help Posco secure 30,000 tons of natural graphite, or 15,000 tons of spherical graphite, on an a

Sept. 4, 2023