Kyobo Life Insurance Co., a South Korean life insurer, said on Thursday it has established the Cia-Cia Hangeul School on Buton Island, Indonesia, in partnership with the Korea Cia-Cia Cultural Exchange Association. The Cia-Cia are one of Indonesia’s 350 minorities who in 2009 officially chose to use the Korean alphabet, Hangeul, to preserve its fading language. The Cia-Cia local language, also k...

South Korea’s largest beer maker Oriental Brewery introduced its climate change-tackling technology at the Conference of Global Climate Action Fund, according to the company on Wednesday. The conference, initiated for the first time and scheduled to be held from Monday to Friday, was co-hosted by the W Foundation and United Nations Climate Change Convention. It was designed to support private se...

Hyundai Motor Group said on Tuesday it has decided to invest in Bos Semiconductors, an automotive semiconductor startup. Bos Semiconductor is a fabless startup which specializes in manufacturing system semiconductors used in automotive software. The startup aims to design high-performance semiconductors that consume low amounts of power. It also aims to manufacture central processing units and ...

LS Cable & System will commercialize a remote-control cable management system that detects operational abnormalities, prevents power outages and sends online alerts, said the company on Tuesday. The new system called i-check allows IoT sensors attached to cables to detect malfunctions such as electricity leakages and overheating, to prevent power outages and fires. Users will be able to check t...

Pulmuone’s wholly owned US subsidiary Pulmuone Foods USA said on Monday that sales of its tofu have increased 11 percent this year from last year. The South Korean food giant attributed its sales performance to the construction of its tofu production line at Pulmuone Fullerton plant. The production facility established in November in California contributed to increasing the total production of ...

Lotte Chemical has reportedly submitted a tender to acquire a controlling stake in South Korean copper foil manufacturer Iljin Materials on Friday. The Seoul-based petrochemical firm is considered one of the proposed buyers of the 53.3 percent stake in Iljin Materials from President and Chief Executive Officer Huh Jae-myung, which will cost around 3 trillion won ($2.24 billion). Citigroup Global...

Hyundai Steel, the nation’s No. 2 steel maker, said Sunday it is betting big on waste recycling in its renewed push for carbon neutrality. The company has recycled used coffee grounds as part of its social contribution activities. More recently, it signed a memorandum of understanding with the Incheon Yeonsu Rehabilitation Center to accelerate related research. The North Gyeongsang Province Gov...

Posco International, the trading arm of the Posco Group, said Friday that its board has approved a bill to absorb Posco Energy. The merger will be put to the vote at the general shareholders‘ meeting on Nov. 4 and finalized on Jan. 1, the company said in a statement. 100 shares of Posco International will be worth 116 shares of Posco Energy. Posco International will issue new shares according t...

Samsung Biologics has tentatively signed a deal worth 457 billion won ($350 million) with AstraZeneca on contract manufacturing, the company said in a regulatory filing Friday. The two sides reached the agreement in May last year, but was unveiling it this time as they were renewing the contract to include “increases in demand” from AstraZeneca. The renewed deal accounts for 29 percent of Samsu...

The electronic parts supplier LG Innotek was awarded with the Jaguar Land Rover Quality Certificate for two consecutive years, the company said Thursday. The certificate, awarded by UK car manufacturer Jaguar Land Rover, evaluates partner companies for their quality of components and compliance with delivery dates. LG Innotek has supplied DC-DC converters, components that convert high-voltage d...

SK Innovation Vice Chairman and CEO Kim Jun visited Poland to ask the Polish government for its support of South Korea’s bid to host the 2030 World Expo in Busan, the company said Thursday. Kim met with Waldemar Buda, the Polish minister of economic development and technology in Warsaw on Tuesday. SK IE Technology’s President Rho Jae-sok and Polish government officials were also present at th...

Researchers at the Korea Institute of Production Technology said Wednesday that they have succeeded in developing a fluorine-based polyimide film, opening a leeway to produce the material without having to rely on imports from Japan. The film is a crucial part of foldable displays, as it gets rid of wrinkles when folded. It has been under the Japanese government’s export control since 2019, which...

Industry behemoths are utilizing non-fungible tokens not only as a marketing tool but also to provide more diverse services to their customers, according to industry insiders on Monday. Samsung Electronics has signed a memorandum of understanding with Samsung Digital Plaza, Shilla Duty Free Shop, Show Golf and E Cruise at E Cruise headquarters on Monday, to promote customers’ usage of New Galaxy...

In light of uncertainties involving global competition for hegemony, pandemic and digitization, South Korea’s intellectual property agency chief has emphasized that upgrading the evaluation system for IP assets is essential for local companies to innovate themselves. “The amount of South Korea’s IP assets has grown drastically over the past decades, and the country is considered one of the globa...

Non-fungible token solution company KOREAN NFT will hold a networking event titled ‘HY NET SEOUL’ on Saturday, the company said on Thursday. The event will bring blockchain leaders, influencers, artists, collectors, and community members in Seoul together, it added. “We are going to create an NFT market ecosystem by supporting the domestic and foreign projects of Korean artists, planning new bu...