Paseco, the largest window air conditioner-maker in South Korea, sold more than 100,000 units in the past three months, the company said Monday. The sales boost propelled aggregate sales of Paseco’s window ACs to hit 250,000 units since introducing the home appliance in 2019. A window AC is a single-unit air conditioner installed on windows. Paseco, previously more well-known for oil heaters, is a leading player in the market, taking up an estimated 60 percent of the market share. P

Industry July 26, 2021

GS Engineering & Construction is partnering with the city of Pohang, North Gyeongsang Province, to invest in green energy, the company announced Wednesday. The construction company said it signed a memorandum of understanding with the Pohang city government to build solar energy and hydrogen fuel cell energy production plants set to run in the Yeongilman 4th General Industrial Complex. The partnership is in line with Pohang’s commitment to turn the area into a carbon-neutral zone b

Industry July 23, 2021

Hoping to see more imported cars running on the streets in South Korea, German carmaker Volkswagen decided to lower the prices for its latest sport utility vehicles, the company said Thursday. Through an online press conference, Volkswagen Korea’s Managing Director Stefan Krapp announced the launch of The New Tiguan and introduced the automaker‘s “democratization” strategy. “We want to be the most accessible, most affordable, premium brand for Korean customers

Mobility July 22, 2021

Sales of Hite Jinro’s soju products in Thailand reached $1.55 million in the first half of 2021, up 210 percent from the corresponding period last year, said the South Korean liquor maker on Wednesday. Hite Jinro is the longtime provider of some of the oldest soju brands in South Korea, including Jinro, Chamisul and, recently, Jinro Is Back. Since its pledge to globalize soju in 2016, the liquor maker has made various efforts to expand soju’s presence in the Southeast Asian coun

Consumer July 21, 2021

South Korea is making all-out efforts to ensure a stable supply of electricity as the nation’s power reserve is expected to plummet to its lowest level this week, amid a record-breaking heat wave and surge in electricity consumption, government officials said Tuesday. To prevent possible power shortages, the Ministry of Trade, Industry and Energy said it will resume operations of three nuclear reactors along the southeastern coast within this month. The reactors were stopped for mainten

Industry July 20, 2021

CJ OliveNetworks, the information technology solution developer of CJ Group, will share its expertise in big data and artificial intelligence with small and medium businesses and startups, the company said Monday. The CJ affiliate is participating in the South Korean government’s Data Voucher Support Project, which is part of the government’s Digital New Deal Initiative. The project aims to invigorate the big data ecosystem for small and mid-size enterprises across the country. S

Technology July 19, 2021

Alarm bells are ringing over power security this summer, as the heat wave has driven electricity demand to historic highs already before August, the hottest month of summer, arrives. The electricity reserve margin, the difference between the supply capacity and demand, fell close to 10 percent last week, recording the season’s lowest 10.1 percent on Tuesday, with the remaining supply capacity dipping to 8.8 gigawatts. A reserve ratio under 10 percent, or a remaining capacity under 10 G

Industry July 18, 2021

Construction project management firm HanmiGlobal will work with Hewlett Packard Enterprise, a cloud service provider, to promote South Korea as the next data center hub of Asia, the two firms announced Wednesday. The two companies signed a memorandum of understanding on the marketing and management of data center construction projects, as political uncertainties in Hong Kong are prompting foreign companies to consider relocating their data centers in Asia. Under the agreement, HanmiGlobal w

Industry July 14, 2021

South Korean education service provider Vine Group has been expanding its businesses beyond teaching, entering into areas such as food and beverage, asset management and IT services, with continued investment in people and commitment to social responsibility. Behind its expansion has been the “100 Project,” an in-house venture program founded three years ago to promote diversity and creativity among company employees. The ultimate goal of the program, according to the company, is

Industry July 13, 2021

LG Group affiliates operating in Vietnam have yet to receive any COVID-19 vaccines despite donating billions of won to help the Southeast Asian country secure the jabs, Korean media outlets reported Monday. Citing sources in Vietnam, the reports said LG Group employees working at the home appliance plants in Haiphong City have not received any vaccines. The parent group has contributed 1.55 billion won ($1.4 million) to Vietnam’s national vaccine fund. This is in stark contrast to oth

Industry July 12, 2021

LG Group’s materials and components maker LG Innotek managed to cut greenhouse gas emissions by 11 percent last year, from the previous year, the company said in a report released Monday. According to the firm’s 2020-21 Sustainability Report, it reduced emissions by an estimated 45,000 tons, which is equivalent to what 3.9 million trees would have absorbed over a year. In addition to that, the company was able to cut water usage by 7 percent from 2019, by expanding investment in

Technology July 12, 2021

Starting from Monday, social distancing measures in the greater Seoul area will be raised to the highest in the four-tier system, as South Korea’s daily infection tally had spiked over 1,000 in the past few days. The new measures will remain in place for two weeks until July 25. Here’s what you need to know about the latest rules. Private gatherings Private gatherings of more than four people are banned. After 6 p.m., gatherings are limited to two people, even for the fully

Social Affairs July 9, 2021

Some 6 in 10 supporters of the main opposition People Power Party think Yoon Seok-youl is fit to be the next president of South Korea, dwarfing support for the established politicians of the party, a recent poll showed Thursday. The survey was conducted with 1,006 eligible voters by Realmeter and commissioned by OhmyNews, a left-leaning internet news outlet. According to survey results, the ex-prosecutor general received a 58 percent support rating among 383 respondents who said they suppor

Politics July 8, 2021

South Korea plans to change parts of its visa policy to allow more skilled foreigners into the country, in a bid to tackle its declining population and aging society. The plans were unveiled Wednesday at a regular briefing held by the Ministry of Justice. According to the ministry, the government plans to lower qualifications to obtain long-term residency, or a F-2 visa, for talented foreigners in “promising industries” that require support on a “national level.” Exac

Social Affairs July 7, 2021

South Koreans set to join the military between July and September will be eligible for Pfizer’s COVID-19 vaccine, the Korea Disease Control and Prevention Agency said Wednesday. The shots will be administered at regional inoculation centers starting next Monday to conscripted individuals and professional soldiers set to begin their service. The KDCA recommends that people apply for the program only if they can complete the two-dose regimen before joining the military, since vaccination

Social Affairs July 7, 2021