Korean Air unveiled a special aircraft dedicated to endorsing Korea’s 2030 Busan World Expo bid during an event held at Incheon Airport on Wednesday. The aircraft, a Boeing 777-300ER, displays the image of world-renowned K-pop idol group Blackpink, bringing attention to and fostering support for the expo bid. “It is a great honor to be part of the nationwide efforts to raise awareness and gather support for Korea’s bid for the World Expo. We will fulfill our role as an ambassad

Mobility May 3, 2023

HD Hyundai CEO Chung Ki-sun recently visited several US subsidiaries to personally meet with and extend gratitude towards employees whose family members are Korean War veterans, according to the shipbuilding giant Sunday. As a member of an economic delegation accompanying President Yoon Suk Yeol on his state visit to the US, Chung visited HD Hyundai’s local operations in Alabama and Georgia. In particular, he met with six employees working at a HD Hyundai power transformer plant in Alabama

Consumer April 30, 2023

South Korea’s second-largest steelmaker Hyundai Steel on Wednesday disclosed its roadmap for carbon neutrality, dubbed “Pathway to Green Steel,” with an aim to achieve net zero by 2050. For its mid-term goal, the company renewed its commitment to reducing direct and indirect carbon emissions by 12 percent by 2030. “Advanced countries around the world are focusing on securing an earlier edge in the climate sector and protecting their own industries,” said Hyundai Ste

Industry April 27, 2023

Renault Korea’s new QM6 SUV is more than just your typical SUV -- it is also equipped with the much-loved perks of a sedan. SUVs are usually known to offer a less comfortable riding experience compared to sedans due to the bigger tires causing higher road impact. With an improved power train, reduced noise, an upgraded exterior and additional convenience features, Renault’s QM6 presents a solution to this issue by keeping the performance and capabilities of an SUV while incorporating

Mobility April 26, 2023

South Korean construction giant Booyoung Group’s Founder and Chairman Lee Joong-keun was awarded the Medal of National Merit by Cambodian Prime Minister Hun Sen on Monday. The medal is the highest honor given by the Cambodian government and is awarded to those who have significantly contributed to national development. As a recipient of the medal, Chairman Lee was recognized for his leadership in many social contribution projects that Booyoung Group carried out throughout Cambodia. This in

Industry April 26, 2023

Sportstoto Korea, the operator of the Korean sports betting game Sportstoto, said Monday that foreign residents can now sign up for the official online betting website of Sportstoto starting Thursday. Similar to horse race gambling, Sportstoto is a legal form of sports gambling in Korea in which participants receive sports promotion voting rights – commonly referred to as sports lottery tickets – to place their bets on match outcomes based on careful calculation and prediction. Betti

Market April 24, 2023

Hana Financial Group on Thursday held an award ceremony for the winners of its art contest for supporting and celebrating artists with developmental disorders. The ceremony of the contest dubbed “Hana Artverse” took place in commemoration of Korea’s 43rd National Day of People with Disabilities on Thursday. This is the second time the group hosted the multi-platform art contest to allow artists with developmental disabilities to showcase their talents and improve social awarene

Economy April 20, 2023

South Korean fried chicken franchise Genesis BBQ said Wednesday it recently opened a new restaurant in California in an effort to further penetrate the American market. Labeled under the franchise’s brand name “bb.q Chicken,” it is its 35th outlet in California. The restaurant is located in a bustling business center called Callens Corner in the Orange County city of Fountain Valley. With schools, hospitals, churches and other public facilities in the area, Callens Corner is a

Consumer April 19, 2023

Philip Morris Korea, the Korean branch of US tobacco giant Philip Morris International, said Wednesday that Hanna Yun, former managing director of Philip Morris Australia, has been named its new chief. An industry veteran who has dedicated 27 years to working at Philip Morris and its numerous international branches, Yun is a leader with extensive experience in business strategy and finance, the company said. After majoring in finance at the University of Technology Sydney in Australia and receiv

Industry April 19, 2023

SK Telecom announced Tuesday it would enter the American market by providing a next-generation broadcast solution built with mobile edge computing technology to Sinclair Broadcast Group, a provider of local news and sports coverage in the US. MEC refers to the real-time processing of large amounts of data by devices and applications close to end-user devices, rather than a centralized data hub. Incorporating MEC technology, SKT developed Petasus Media -- a combination of SKT’s MEC solution

Industry April 18, 2023

South Korea’s Daewoong Pharmaceutical said Tuesday it has signed a deal with Sygnature Discovery, a UK-based discovery and preclinical solutions provider, to find potential candidates for autoimmune diseases treatment. Under the agreement, Daewoong Pharmaceutical will use Sygnature Discovery’s drug discovery technology, such as "fragment-based drug discovery," and virtual screening to find effective substances to use in treatments. “We are engaging in collaborations t

Industry April 18, 2023

Korean construction company Woomi Construction said Monday it has signed a contract to invest in global asset management company Fifth Wall’s Real Estate Technology III for Early Stage Ventures Fund, also called Fund III, on March 31. This decision comes as part of Woomi’s efforts to continue investing in property technology, or proptech, and expand its foothold in the global investment sphere. Property technology refers to the application of information technology tools and the plat

Industry April 17, 2023

A massive resort, Sun Beach Golf and Resort, will open in May 2024 at the coastal dune of Sindu-ri, Taean in South Chungcheong Province -- one of South Korea’s natural monuments. Spreading across a whopping 1.4 million square meters, the resort offers spaces for various purposes, including for businesses, social gatherings, health, leisure and vacation, according to developer Sindu Beach Development. The main feature of the resort is an 18-hole public golf course facing the beach along th

Travel April 14, 2023

LG Chem said Thursday it has entered into a joint development agreement with US renewable chemicals and biofuels company Gevo to commercialize biopropylene, a raw material for bioplastics, by 2026. Under the agreement, the two companies will develop bioprorylene using Gevo’s patented technologies. Gevo’s Ethanol-to-Olefins, or ETO, conversion technology facilitates the production of low-carbon ethanol to renewable olefins, which can replace traditional olefins – petroleum-based

Industry April 13, 2023

Posco Group said Wednesday it has signed a memorandum of understanding with Japanese carmaker Honda to shore up comprehensive cooperation in the field of electric vehicles. The signing took place at Posco’s Seoul headquarters on Tuesday, with top executives, including Posco Chairman Choi Jeong-woo and Honda CEO Toshihiro Mibe, in attendance. The two companies agreed to bolster their existing ties in steelmaking and extend the partnership to cover batteries for EVs, especially the developme

Industry April 12, 2023