Latest news
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Taihan Cable and Saudi partner agree to invest $80 million in joint venture plant in Riyadh
SEOUL -- Taihan Cable & Solution, a power cable and grid infrastructure company in South Korea, agreed with its Saudi partner to invest $80 million in a joint venture plant at an industrial park in Riyadh that will produce high voltage power cables targeting clients in the Middleast, Europe and Africa. Under a deal signed in Seoul, Taihan will own 51 percent of the joint venture named "Saudi Taihan Cable & Solution," and the remainder controlled by Mohammed Al-Ojai
June 16, 2022 -
SK pharmteco earmarks $35 million to boost production capacity in Ireland
SEOUL -- SK pharmteco, a U.S.-based portfolio company of South Korea's SK Group, will invest $35 million to expand the production capacity of its manufacturing plant in Ireland. The investment underlines a group-wide campaign to create a global pharmaceutical company that can produce synthetic drugs and bio-medicine for cell and gene therapy. Unlike Samsung Biologics, a major contract development and manufacturing organization (CDMO) that established a domestic production bas
June 16, 2022 -
KOGAS subsidiary clinches first ship-to-ship LNG bunkering order from domestic shipping company
SEOUL -- The sole provider of LNG bunkering services in South Korea clinched its first ship-to-ship bunkering order from a domestic shipping company that imports iron ore from Australia. The deal comes as South Korea is trying to activate its bunkering market for liquefied natural gas (LNG), a proven commercial solution to meet ever-tightening emissions requirements. Korea LNG Bunkering (KOLB) has signed a ship-to-ship (STS) bunkering contract to supply about 1,000 tons of LNG per s
June 15, 2022 -
LG Display raises $1.0 billion new funds to expand OLED production in Vietnam
SEOUL -- LG Display, a major flat panel maker affiliated with South Korea's LG Group, will raise about $1.0 billion worth of investment funds from domestic and foreign banks to expand organic light-emitting diode module lines and build infrastructure at its plant in Vietnam. Despite unstable economic conditions such as interest rate hikes and the war in Ukraine, LG Display said it was able to attract funds from global financial institutions, demonstrating its excellent technolog
June 15, 2022 -
Homegrown technology developed for real-time inspection of rail supporting facilities
SEOUL -- A homegrown technology for inspecting the condition of rail supporting facilities for electric trains has been developed to replace imports. It was designated as a new transportation technology that can receive various benefits such as development funds to strengthen technology competitiveness. Applied with the new technology, a high-speed and high-resolution camera can photograph tram track support facilities and provide related information in real time through deep learni
June 15, 2022 -
Doosan Group makes new investment to nurture semiconductor unit as global player
SEOUL -- South Korea's Doosan Group will inject some one trillion won ($774 million) into its newly acquired semiconductor test service company to nurture it as one of the world's top five players within five years. The investment was disclosed during Doosan Group chairman Park Jeong-won's trip to the factory of Doosan Tesna in Anseong, 45 kilometers (28 miles) south of Seoul. Doosan Tesna will build a new plant for completion in late 2024 as part of efforts to expand it
June 15, 2022 -
LG Electronics jumps into logistics robot market in cooperation with CJ Logistics
SEOUL -- Based on its service robot solution know-how and autonomous driving technology accumulated in hotels, hospitals, and restaurants, LG Electronics jumped into the logistics robot market in cooperation with CJ Logistics, a major logistics company that has used artificial intelligence, big data and robots for digital transformation. The two companies would push for the joint development of an order picking system based on autonomous driving robots, establish optimized robot o
June 15, 2022 -
Kolon's new golf ball records world's longest distance in WRC certification test
SEOUL -- A new golf ball made by applying the powder of attometal, a new material developed by a subsidiary of South Korea's Kolon Group, has recorded the world's longest distance. In a ceremony in Seoul on August 14, the golf ball brand-named "Attomax" has officially received the world's longest distance title from the World Record Committee (WRC), a world record certification body based in the United States. In a certification test using a WRC-certified
June 14, 2022 -
Doosan Enerbility works with domestic companies to push for mixed combustion using green ammonia
SEOUL -- Doosan Enerbility, a key player in South Korea's power industry, tied up with two domestic companies to push for mixed combustion technologies that generate electricity by using green ammonia, which is considered an important part of a sustainable hydrogen ecosystem because no carbon is generated. Ammonia is seen as an ideal resource to establish an eco-friendly hydrogen fuel cell-based infrastructure. Green ammonia can be produced through electrolysis powered by renewa
June 14, 2022 -
Two Hanwha units invest $115 million in American UAM partner Overair
SEOUL -- Two units of South Korea's Hanwha Group will invest $115 million together in their American partner, Overair, which develops electric and hybrid-electric vertical takeoff and landing aircraft, or eVTOLs, for urban air mobility (UAM), an ecosystem covering personal air vehicles and infrastructure. The two companies acquired Overair's convertible note, which is a form of short-term debt that converts into equity, typically in conjunction with a future financing round
June 14, 2022
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LS Materials breaks ground for EV aluminum parts factory in southern city
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Samsung to implement six-day workweek for executive members
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Tech firms present AI solutions at 'World IT Show 2024' in Seoul
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LS Eco Energy to supply ultra-high-voltage cables to Danish energy firm
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Korea increasingly losing AI talent abroad: report
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HD Hyundai signs deal to build 4 warships for Peruvian Navy
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BLACKPINK's Jennie stays on Billboard chart for 16 consecutive weeks
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Spring outing at biggest park in central Seoul
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Cho Kuk's final day of election campaign
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Singer G-Dragon to make comeback in second half of 2024