South Korea’s LG CNS, an information technology services subsidiary of LG Corp., said Thursday it is set to establish a joint venture specializing in cloud conversion and operations with Megazone Cloud, the largest cloud management company here.The companies aim to take the lead in the cloud conversion market through their JV. They have signed a joint investment agreement. After discussing the detailed implementation plan for about three months they hope to finalize the JV’s establis

Hyundai Heavy Industries said Thursday it has partnered with Korean steelmaker Posco to localize materials for liquefied natural gas tankers. HHI said it has recently applied Posco’s 9 percent nickel steel to fuel tanks -- with a model name of Hi-CIX -- for 180,000-ton LNG propulsion vessels in order to localize and stabilize the supply of core materials for cryogenic tanks. Nine percent nickel steel is a material that can maintain strength and toughness even in cryogenic environments

Audi Volkswagen Korea said Thursday it has opened a media art exhibition in Seoul to present the future of green mobility.Titled “The Next Chapter,” the exhibition displays joint projects by artists at home and abroad visualize safe and sustainable mobility and its role of changing the life of future generation. The two-week event is taking place at JCC Art Center in Jongro, central Seoul. It is a cultural platform for the company’s Tomoroad initiative, a joint project with Kor

Hyundai Engineering has landed a $2.2 billion refinery development project deal in Balikpapan in Borneo, Indonesia, reestablishing its position as a powerful player in the petrochemical market, the company said Wednesday. Indonesia is the biggest petroleum producer among the Association of Southeast Asian Nations. The Balikpapan refinery is located in the East Kalimantan province, some 20 kilometers from the new capital of Indonesia.  According to Hyundai Engineering, Indonesia’s stat

The two-day 10th board meeting of the Asia Water Council ended Wednesday in Wuhan, China, sharing views on practical ways to address water crises in the region.The meeting discussed ways to further activate the “Water Project,” an AWC project driven to give financial support to each Asian country’s plans to resolve water crisis. The board also discussed the means to bolster financial integrity of the AWC. Some 100 people from 37 institutions participated in this year’s bo

Responding to stricter requirements for data protection, law firm Yoon & Yang co-hosted a related seminar with regulatory insight provider MLex this week. The event, titled “Data Protection Regulations in Korea and EU,” was held Tuesday at the headquarters of Yoon & Yang, the country’s sixth-largest law firm both in size and sales.MLex is a news organization affiliated with LexisNexis, specialized in regulatory risks. It has a global network of more than 80 regulatory r

Hannam The Hill apartments sweep the price chart

　South Korea’s telecom giant SK Telecom said Wednesday that it is inviting online applications for free trials of Microsoft’s upcoming cloud-based game-streaming service Project xCloud.　According to SKT, Android-based smartphone users who subscribe to its 5G wireless service can sign up until Oct. 8.　Those selected to take part will get a glimpse of Microsoft’s game-streaming service next month, SKT said. Trials in the United States and the United Kingdom are scheduled to run s

Hyundai Motor Group is reportedly planning to conduct a large-scale trial of its hydrogen-fueled trucks in Israel, although the automaker refused to confirm the details Wednesday.According to the report by Israel’s Calcalist, a delegation from Hyundai visited the country last month to discuss the project with officials from the office of Prime Minister Benjamin Netanyahu.Israel’s extremely dry and hot climate due to the Dead Sea region, as well as optimal road situation in the Northe

LG Electronics said Wednesday it has filed lawsuits against three European home appliance manufacturers with a court in Munich over allegations that they infringed LG’s ice-making patents for side-by-side refrigerators. The accused companies are Arcelik, Beko and Grundig, affiliates of Turkey-based Koc Group, which sell home electronics in European markets.LG claimed that the three firms have violated its patents related to an ice-making system built into the door of a freezer. The Korean

Global IT giant Google Inc. aims to rev up its cloud business in South Korea by opening its first data center in the country early next year, company officials said Wednesday. It will be Google Cloud's eighth data center in the Asia Pacific region, and it wants local companies to expand globally and multinational customers to do business in the country, they said. "Google Cloud has focused on four industries -- finance, health care, retail and manufacturing -- globally," Yang Seung-do,

Posco International, a trading subsidiary of Posco, has become the first Korean company to complete construction of an overseas grain export terminal, as it went into full operation, the firm said Wednesday. The new grain terminal at the Ukrainian Black Sea port of Nikolayev, which is owned by Posco International with a 75 percent stake, is one of the largest export ports in the southern Black Sea. It is capable of shipping 2.5 million tons of grains such as wheat, corn and soybeans annually.The

Global electric scooter operators are entering South Korea’s micro-mobility market, intensifying competition in the bike-sharing market. According to industry sources, US-based e-scooter and bike company Lime is gearing up for its debut in Korea. The company is expected to announce the launch on Oct. 1 in Seoul. Lime has been preparing to enter the Korean market and has been recruiting local employees since earlier this year. Currently, the company is operating in more than 120 cities in o

Korea’s leading battery maker LG Chem said Tuesday the company has secured cathode materials for electric vehicles from Europe’s top supplier Umicore with a plan to ramp up its battery production in the region next year. The company signed a contract with the Belgium-based material supplier to procure 125,000 tons of cathode materials -- one of the four key materials for lithium-ion batteries -- starting next year.  The amount of purchased materials is equivalent to manufacturin

LG Group Chairman and CEO Koo Kwang-mo on Tuesday presided over a meeting of executives of group affiliates for the first time, during which he ordered the top brass to be swifter in preparing for the future. At the annual workshop held for the CEOs of LG affiliates, Koo emphasized that the current crisis facing businesses is different from previous crises, so it is imperative that the group move faster in seeking changes.  “The current L-shape economic downturn is new to us, and we h