US Forces Korea (USFK) said Friday it does not oppose South Korea's project to build a floating solar power plant near the Saemangeum reclamation area on the west coast amid speculation that those facilities might affect fighter pilots.On Thursday, the local daily Chosun Ilbo reported that the USFK raised concern that light reflecting from solar panels might disrupt its flight operations, but the Korea Hydro & Nuclear Power Co. rejected such complaints."After careful consideration and e

IT giant Kakao and the nation’s third-largest conglomerate SK Group saw the biggest increase in their number of affiliates in the past three months among the country’s largest business groups, data showed Friday, reflecting their aggressive expansion plans. According to data released by the antitrust watchdog Fair Trade Commission, Kakao took 17 affiliates under its wing from August to the end of October, the highest number among other large businesses in the three-month period. SK G

LG Electronics said Friday it has made a Series A investment in laundry startup Washlava. Series A refers to the first stage of fundraising for a startup after its foundation, as it gears up for full-fledged business operations.  Established in 2017, Washlava is based in Tampa, Florida. It provides a mobile platform for reservations, services and payment for the use of washing machines and dryers at dormitories, hotels and laundromats. LG Electronics has participated in the Series A round o

Celebrating the 50th anniversary of Samsung Electronics on Friday, Vice Chairman  Lee Jae-yong vowed for another constructive 50 years in business to reach a full centennial milestone.“The past 50 years has been possible thanks to all your dedication. Let us now freely dream and imagine new possibilities over the next 50 years,” Lee said in recorded video remarks to some 400 employees gathered for an anniversary ceremony at Samsung Digital City in Suwon, Gyeonggi Province.S

A survey targeting some 1,500 Europeans revealed that the majority perceived computer and mobile games as the most representative cultural content of South Korea, mobile games firm Com2uS said Friday. Com2uS is the Korean developer behind the mobile game Summoners War, which was played at the inter-country esports friendly match during the Korea-Sweden summit in June in Stockholm, Sweden.  At the Summoners War World Arena Championship 2019 finals in Paris on Oct. 26, Com2uS conducted the su

Boeing Co. said Friday it has opened an engineering and technology center in South Korea to promote partnerships with local companies. The Boeing Korea Engineering & Technology Center is Boeing's 7th overseas technology center, and the 40-person center will be fully under the control of the US aircraft manufacturer, the company said in a statement. Boeing has five technology centers in the United States. The company is planning to secure local talent in Korea and strengthen partnerships with

South Korea’s exports have declined for the 11th consecutive month due mainly to a slowdown in demand for chips and the weak global economy, data showed Friday. According to the Trade Ministry, the nation’s exports stood at $46.7 billion last month, down 14.7 percent on-year, the biggest decline this year. Exports have fallen since December last year, and the decline has been double-digit for five months since June this year. By product, exports of chips shrank 32.1 percent, whi

South Korea's finance minister on Thursday expressed regret over a recent indictment of executives at the operator of rental van-hailing service Tada.On Monday, prosecutors indicted Lee Jae-woong, chief executive of car-sharing app SoCar, and Park Jae-uk, CEO of SoCar's subsidiary Value Creators & Company, calling the app-based ride-hailing business illegal."It's regrettable that (prosecutors) brought the issue to the court before win-win solutions could fully work," Finance Minist

South Korean air carriers will be subject to a government safety probe within the next month, a move by the Transport Ministry to improve safety checks in the wake of global concerns over component malfunctions of Boeing 737 Next Generation aircrafts.Following the Ministry of Land, Infrastructure and Transport’s announcement of the measures on Wednesday, a total of 150 B737 NG aircrafts operated in the country are to undergo an emergency safety inspection by the end of November. The i

Concerns raised over project’s feasibility, profitability

GS Group said Thursday it will establish a venture capital firm in Silicon Valley in the first half of next year, as part of its plan to seek new growth engines.The decision was made during a two-day meeting of top executives held in Taipei, Taiwan, chaired by GS Group Chairman Huh Chang-soo. The list of executives who attended the meeting includes, GS Engineering and Construction Vice Chairman Huh Myung-soo, GS Home Shopping Vice Chairman Huh Tae-soo and GS Vice Chairman Jeong Taek-geun. 

Renault Samsung Motors, a South Korean subsidiary of French carmaker Renault, has forged a partnership with LG Chem to develop energy storage systems with used batteries, the companies said Thursday. The carmaker has provided 40 units of used batteries from its electric vehicle SM3 Z.E. to its counterpart to help the latter develop and start testing a new type of ESS by 2021.Renault Samsung plans to provide batteries that have reached retirement age from its ultramini EV Twizy and other EVs plan

Hyundai Motor unveiled an upgraded version of fuel cell electric bus powered by hydrogen for the Korean police on Thursday, in line with the law enforcement agency’s plan to turn its entire bus fleet green.The carmaker had previously introduced city bus-type hydrogen vehicles for the law enforcement agency, but it is the first model with large cargo space for police equipment and is suitable for long-haul travel. The latest model has two 95 kilowatt fuel cell stacks with hydrogen tanks pla

 　Paradise Casino Walkerhill’s chief Park Byeong-ryong held a community event with Mongolian students living in Korea, to improve their occupational aptitude and career trajectory, the company said Thursday. 　According to the foreigner-only casino operator, its employees and 60 students from International Mongolia School gathered at vocational school KidZania in Seoul on Wednesday to participate in job-searching programs. 　The students received advice about their career paths through

SK Innovation Co., South Korea's top refiner, said Thursday that its third-quarter net profit tumbled 62 percent from a year earlier on inventory losses.Net profit stood at 174.2 billion won ($149 million) on a consolidated basis in the July-September period, compared with 459.4 billion won a year earlier, the company said in a regulatory filing.Operating income plunged 60.5 percent on-year to reach 330 billion won in the third quarter, with sales falling 17.3 percent on-year to 12.3 trillion wo