Hana Financial chief highlights green financing efforts in Australia

Hana Financial Group Chairman Ham Young-joo discussed the importance of green financing with Australia’s high-ranking government official in a meeting held in Canberra, the firm said Sunday. Ham met with Alex Heath, the first assistant secretary of the Australian Treasury’s climate and energy division, during his three-day visit to the country as part of efforts to expand the firm’s global presence. "Hana Financial has achieved nearly 45 percent of what was announced in it

June 23, 2024

LG chief travels to US to examine future growth engines including AI

LG Group Chairman Koo Kwang-mo traveled to the US last week to check on the operations of the group’s major affiliates and examine future growth engines, including artificial intelligence, robots, biotechnology and cleantech -- technology that reduces negative impacts on the environment -- the company said on Sunday. During the four-day trip from June 17, travelling across the country from Tennessee to the California's Silicon Valley, Koo also met with Jim Keller, the chief executive

June 23, 2024

Hyundai Mobis enhances work-life balance with support programs

Aimed at helping employees achieve a better work-life balance, Hyundai Mobis, auto parts and service arm of Hyundai Motor Group, is offering series of support programs aiming to make it easier for employees to have children. The company has been running a day care center in Mabuk-dong, Yongin, Gyeonggi Province since last year. The four-story day care center provides diverse spaces where children can engage in both learning and play activities. The center features stairs, sinks and specialized p

June 23, 2024

Posco and telecom giants hold disaster response exercise

South Korea's leading steel manufacturer, Posco, has carried out an emergency response drill at its Gwangyang plant to test the rapid recovery of mobile communication networks in the event of a disruption. The drill, held on June 13, was carried out in collaboration with the nation's three largest mobile carriers -- SK Telecom, KT Corp., and LG Uplus at the steel production facility in South Jeolla Province. This follows memorandum of understanding signed last year between Posco and th

June 23, 2024

[Photo News] Samsung promotes Olympics

The facade of Palais Garnier in Paris is covered in a Samsung Electronics' advertisement promoting its Galaxy Z Flip 5 series and the 2024 Paris Games, in this photo provided by the smartphone maker on Sunday. The tech giant, a worldwide Olympics and Paralympics partner, is launching its "Open always wins" campaign focused on the importance of openness and inclusivity, to run through the end of September. (Samsung Electronics)

June 23, 2024

SK chief heading to US on AI, chips

SK Group Chairman Chey Tae-won will embark on a business trip Saturday to the US to meet with key figures in artificial intelligence and semiconductors fields for future business opportunities, the group said Friday. Chey’s upcoming trip comes about two months after he met with Nvidia CEO Jensen Huang in San Jose in April. Key executives at SK’s AI and chip businesses, including SK Telecom CEO Ryu Young-sang and SK hynix President Kim Joo-sun, will accompany the chairman. SK said Che

June 21, 2024

Hanwha acquires Philly Shipyard, first Korean entry into US shipbuilding

South Korean conglomerate Hanwha Group has acquired Philly Shipyard for $100 million, making it the first Korean company to enter the US shipbuilding industry. Announced on Friday, the acquisition involves Hanwha Systems holding a 60 percent stake and Hanwha Ocean a 40 percent stake. These subsidiaries specialize in defense and shipbuilding, respectively. Philly Shipyard, located in Philadelphia, constructs commercial vessels in compliance with the Jones Act, which mandates that goods transpor

June 21, 2024

Starbucks stores lure tourists with Korea’s cultural charms

Starbucks Korea partnered with the Korea Tourism Organization to host a special hospitality event Wednesday at the Starbucks Daegu Jongno Gotaek store in Daegu, welcoming over 90 foreign tourists as part of efforts to showcase Korea. The event was part of a program that spotlights 10 distinguished Starbucks stores, chosen by Starbucks Korea and the KTO to align with the "Visit Korea Year" campaign from 2023 to 2024. This event aims to draw domestic and international tourists to uniqu

June 21, 2024

Hanwha Qcells wins largest community solar deal in US

Hanwha Qcells, the solar energy division of Korean energy company Hanwha Solutions, has signed a significant agreement with US commercial solar developer Summit Ridge Energy to supply 2 gigawatts of solar modules by 2027 for community solar projects and collaborate on energy storage systems. This new agreement marks the largest community solar partnership in US history, building on a previous 1.2 GW partnership announced in April last year when US Vice President Kamala Harris visited Hanwha Qc

June 21, 2024

Kolmar Korea unveils AI-powered diagnostic solution for hair loss

Kolmar Korea, a cosmetics original design manufacturer, said Thursday that the company has developed an artificial intelligence-based solution that can diagnose hair loss, using scalp biomarkers. The new solution can diagnose 16 types of androgenic hair loss, including nine male and seven female types, by screening biomarkers on the scalp's surface. When a dermatologist collects samples of a patient’s scalp and places them on analysis equipment, the AI-powered solution is designed to

June 20, 2024

Samsung Biologics launches coporate culture change initiative

Samsung Biologics has launched an initiative to improve its corporate culture aimed at transforming it into a top-tier biopharmaceutical company by 2030. On Thursday, Samsung Biologics held a declaration ceremony, under a slogan dubbed “Samsung Biologics Way,” and pledged that the company's management and employees will make joint efforts to build a new company culture. Representatives from both management and staff pledged they would improve communication between leadership and

June 20, 2024

SK Group set for major revamp for management efficiency

SK Group, the country's second-largest conglomerate by asset, is speeding up efforts to carry out a comprehensive overhaul of some 200 affiliates and business portfolios, starting with selling its affiliates and pushing for mergers. SK Networks announced Thursday that it is selling 100 percent of its share of SK Rent-a-Car, its rental car service, to Affinity Equity Partners, a Hong Kong-based private equity fund, for 820 billion won ($600 million). The move comes as the company intends to

June 20, 2024

NongHyup Bank, Bankcow partner up on tokenized securities

NongHyup Bank has teamed up with local livestock fractional investment platform Bankcow to expand their business enabling customers to pool their funds to invest in livestock raised on Korean farms. The bank announced on Thursday that it has entered a strategic business agreement with Stockeeper, the operator of Bankcow, to collaborate on securities token offerings (STOs). "Through this business agreement, our goal is to enhance convenience and security for investors using our fractional in

June 20, 2024

Korean equipment makers target booming infrastructure markets

South Korea’s construction equipment trio -- HD Hyundai Construction Equipment, HD Hyundai Infracore and Doosan Bobcat -- are ramping up their efforts to penetrate emerging markets. While North America and Europe continue to be major revenue sources, they are investing more in local production and distribution networks of high-growth countries such as India, Brazil and Mexico, where infrastructure development is booming and demand for relatively larger construction machinery is surging.

June 20, 2024

Ex-Alibaba Korea chief tapped as CEO of Shinsegae’s Gmarket

Chung Hyung-kwon, former head of Alibaba Korea, has been named the CEO of Gmarket, the troubled e-commerce unit owned by Shinsegae Group. The new appointment is part of a series of executive reshuffles at the Korean retail giant whose key affiliates are running out of cash amid operational losses. Before joining Alibaba Group, Chung, a financial specialist, worked at multiple investment banks, such as Goldman Sachs and Credit Suisse, and served as an executive at Coupang, Shinsegae's e-comm

June 19, 2024

[Photo News] K-food made in Georgia

Georgia Gov. Brian Kemp (left) and first lady Marty Kemp (on the governor's left) visit CJ Foodville's Tous les Jours bakery store in central Seoul on Tuesday. Earlier in the day, the governor met with CJ Foodville CEO Kim Chan-ho to discuss business cooperation regarding the company's $54 million bakery and food processing plant that is under construction in Gainesville, Georgia, set for completion by the end of 2025. (CJ Foodville)

June 19, 2024

Kakao Bank kick-starts overseas expansion with Superbank launch

Kakao Bank has yielded the result of its first overseas investment, as Indonesian digital bank Superbank officially launched Wednesday. With the launch, Superbank becomes the first bank concentrating on digital financial services in Indonesia, supported by major shareholders that include Korean internet-only lender Kakao Bank, Southeast Asia's biggest mobility application Grab, Indonesian media conglomerate EMTEK Group and Singaporean telecommunications giant Singtel. In September last year

June 19, 2024

Posco chief reaffirms commitment to EV transition

Posco Group Chairman Chang In-hwa stressed that the group will continue to focus on investing in its secondary battery materials business and expand the application of eco-friendly steel-making methods at a forum organized by World Steel Dynamics in New York, US, Posco Holdings said Wednesday. “The global auto industry will completely shift to electric vehicles in the end despite a recent slowdown. (Posco Group) sees the chasm as an opportunity to strengthen its business and to make new in

June 19, 2024

Daewoong's botulinum toxin Nuceiva hits Spanish market

Daewoong Pharmaceutical, South Korea’s leading drug company, said Wednesday its botulinum toxin product Nabota has been launched in Spain, one of Europe's largest aesthetic toxin injectable markets. According to Daewoong Pharmaceutical, its US partner Evolus, which has the exclusive right to import and sell Daewoong's botulinum toxin Nabota in the US, Europe and Canada, started to sell the botulinum toxin product under the brand name of Nuceiva, starting last week. “Evolus

June 19, 2024

Calculation error opens path for SK chief's team to challenge ruling

SK Group Chairman Chey Tae-won’s high-profile divorce from his estranged wife Roh Soh-young took an unexpected twist after the Seoul high court made a rare rectification of a mistake in its ruling that ordered the chaebol chief to pay $1 billion in property division to the wife. On Monday, the appellate court corrected numerical errors in its written judgment for the divorce settlement of Chey and Roh, but upheld its overall ruling involving the record-high divorce settlement. Earlier in t

June 19, 2024