Korean logistics company LX Pantos announced Thursday the signing of a contract with Indonesian company KSA to establish a joint venture for resource logistics. LX Pantos CEO Lee Yong-ho, KSA CEO Kartika Hadi and other executives from both companies attended the signing ceremony, held at KSA's headquarters in Jakarta, Indonesia. Through this agreement, LX Pantos is to make its debut in the Indonesian resource logistics market. KSA is Indonesia's largest bulk carrier company specializin

Hanwha Qcells said Thursday that it had completed a major solar power and energy storage project in California to supply renewable energy to Meta, Facebook's parent company. Located in Borrego Springs, California, the facility has 50 megawatts of solar modules and a 200-megawatt-hour energy storage system. Meta has been carbon neutral since 2020 and is committed to achieving full supply chain carbon neutrality by 2030. A 50 MW solar capacity situates this project in the mid-range among util

Hyundai Engineering & Construction has started sales of Hillstate Dujeong Station, a new residential apartment complex located in Cheonan, South Chungcheong Province. The complex comprises 11 buildings each 29 stories high, offering a total of 997 units. Scheduled for move-in in March next year, the apartments will be the first in the Dujeong-dong area to feature top-floor duplex penthouses. A total of 30 units with large duplex structures ranging from 148 to 170 square meters will be availa

Kingdom’s top gaming officials discuss cooperation with game industry leaders in Seoul

By Marco Moder Partner at McKinsey & Company Korea Once the key growth engine for the nation’s economy. Now a major roadblock in value chain realignment and market road map. This is where South Korea’s petrochemical industry stands as of now. It is undeniable that the industry faces numerous challenges. Over the past few years, the rapid oversupply from China has intensified demand competition, causing profitability to plummet to an unprecedented level. Also, as the business cy

South Korea has partnered with a US electric aircraft startup to push forward the commercialization of urban air mobility, the transport ministry said Wednesday. Archer Aviation Inc. will join the Korean government's UAM test project dubbed "Grand Challenge" along with local companies -- Kakao Mobilty Corp., LG Uplus Corp. and GS Engineering & Construction Co., the Ministry of Land, Infrastructure and Transport said in a statement. Archer Chief Commercial Officer Nikhil Goel m

Samsung Electronics Co. said Wednesday two workers at one of its chip manufacturing facilities in South Korea were recently exposed to radiation and a government-led investigation is underway. The two workers in the chip production line of Samsung's Giheung Campus in Yongin, 42 kilometers south of Seoul, experienced X-ray exposure on their hands Monday, the company said in a text message response to reporter inquires. The company said it became aware of the incident Tuesday when the workers

German pharmaceutical company Merck Life Science on Wednesday started the construction of a new bioprocessing production center in Daejeon, in which it will invest around 300 million euros ($325 million) -- the company’s largest investment in the Asia-Pacific region. The new bioprocessing production center will be built on a 43,000-square-meter plot of land within Daejeon’s International Science-Business Belt, some 140 kilometers south of Seoul. Merck Life Science will aim to complet

The number of international flight passengers using foreign airlines exceeded that of those using Korean Air and Asiana Airlines, the nation’s top two air carriers, in April – the first time they have done so without pandemic restrictions in place. According to data released by the Land and Transport Ministry on Wednesday, the number of outbound and inbound travelers using foreign airlines was 2.25 million last month, while there were 1.36 million passengers for Korean Air and 877,47

Corning is looking to expand its presence in the burgeoning glass substrate market for semiconductors, using its special proprietary technologies, the company's president in charge of Korea operation said Wednesday. Speaking at his first press conference here after assuming his role as the president of Corning's Korea Region last November, Vaughn Hall also presented the company's new initiative window glasses, introducing the lighter, energy-efficient ATG Glass. "I have high

Hyundai Motor Group Executive Chair Chung Euisun met with United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan in Seoul on Tuesday to discuss enhancing private-sector collaboration in sustainable mobility during Al Nahyan's visit to Korea this week. The UAE President's visit, his first to South Korea, also included meetings with leaders of other major South Korean conglomerates, such as Samsung Electronics' Lee Jae-yong and SK Group's Chey Tae-won. These discuss

About 28,000 unionized workers, or 22% of the total workforce, to walk off job on June 7

A mockup of an aircraft interior featuring smart cabin technology, developed by LG Display, Boeing, and LIG Nex1, is on display at the Aircraft Interiors Expo 2024 in Hamburg, Germany, on Tuesday. For the trade show, the three companies collaborated to develop four types of OLED panels to display various information such as captain's messages, in-flight duty-free sales content, weather conditions, and airline branding. Their lighter weight compared to LCD panels also can help improve the op

South Korea's top logistics firm CJ Logistics said Wednesday that it has established cross-border e-commerce partnerships with leading logistics companies in the United States and Japan to strengthen the distribution network for Korean sellers abroad. In the US, CJ Logistics will handle air freight forwarding to Los Angeles International Airport and New York's JFK International Airport, while multiple local partners, including FedEx, will manage final delivery services. Japan's to

BAT Rothmans, the Korean unit of British American Tobacco, said Wednesday it will intensify efforts to ensure that no one underage uses nicotine products, as part of their campaign to mark the annual World No Tobacco Day on May 31. The company also expressed support for more government efforts to prevent minors' nicotine use. "Underage individuals should never use nicotine, and we believe the government plays a crucial role (through regulations) in ensuring this,” BAT Rothmans&rs