South Korean flagship carrier Korean Air said Wednesday it has clinched a deal with Boeing to acquire 30 Boeing 787 aircraft at the Paris Air Show in an effort to modernize its aircraft.Korean Air has agreed to buy 20 new wide-body B787-10s and to lease 10 additional B787-9s, the company said in a statement. The deal approximately costs 11.5 trillion won ($9.7 billion), based on the price list. This marks the first large-scale purchase deal made by the new chief Cho Won-tae, who took office

South Korea retained the top spot in a European innovation list for the seventh consecutive year, the finance ministry said Wednesday.South Korea scored 137 points in global performance in relation to the European Union in the European Innovation Scoreboard that provides a comparative assessment of the research and innovation performance of the 28 EU member states and 18 select countries, according to the Ministry of Economy and Finance."South Korea is the most innovative country performing

South Korean carmaker Hyundai Motor will partner Aramco, the biggest oil company in the world, on the “comprehensive” development of hydrogen energy, sources told The Korea Herald on Wednesday.An official familiar with the matter said the two companies would sign a memorandum of understanding on hydrogen-related business in the presence of Saudi Arabia’s Crown Prince Mohammed Bin Salman and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun.The Saudi Prince visits Seoul

 Naver, the reigning search engine in South Korea, should receive credit for its presence on the Google-dominant scene, its founder said Tuesday.　“I am proud to have built a search engine in our own language, allowing our own people to use the platform,” Lee Hae-jin, the billionaire founder of South Korea‘s top portal operator Naver Corp., said in a forum here.　Appearing after a two-year absence from the public eye, Lee said there are very few countries in the world where

Amid rebounding sedan sales in the South Korean market, Nissan Korea said it will launch a sixth-generation model of its bestselling midsized sedan, the Altima, here in July. According to the carmaker, the most distinctive aspect of the fully transformed Altima is its design.  With a sportier, more dynamic exterior design, Nissan said it had equipped the latest Altima with its award-winning Nissan Vmotion 2.0 design. In 2017, the Nissan Vmotion 2.0 was recognized as the best concept ca

The Asian Forest Cooperation Organization (AFoCO) shared its strategic priorities at the Asia-Pacific Forestry Week on Tuesday, in Songdo Convensia Convention Center, Incheon, reaffirming its commitment to contribute to regional cooperation and relevant works.The opening ceremony of the event was held on Tuesday and will run through Friday. It is the largest forestry gathering in the APAC region organized by the UN Food and Agriculture Organization bringing government, private, academia, researc

The establishment of Asian Forest Cooperation Organization (AFoCO) was proposed by South Korea at the ASEAN-ROK Commemorative Summit in 2009. It is aimed at strengthening regional forest cooperation by transforming proven technology and policies intro concrete actions in the context of sustainable forest management to address the impact of climate change. The ASEAN-ROK Forest Cooperation was formalized in 2012 as the initial phase of AFoCO. Under this cooperation mechanism, regional forestry act

With government’s deregulation efforts, South Korean telecom seeks to compete against global giants in public cloud services market

Top memory chip provider announces plan to solely develop NPUs, neuromorphic processors to realize on-device AI

State-run Korea Energy Agency has opened a knowledge-sharing program with the World Bank, inviting officials from South Asia to Seoul, the government agency said Tuesday. The KEA began the third WB-KEA energy efficiency knowledge-sharing program hosted by the World Bank, inviting officials from Sri Lanka and Bangladesh. The five-day training program aims to share Korea’s energy policies and experience. With the topic of energy efficiency system for buildings, Korea is sharing green bu

Facelifted QM6 becomes only LPG-powered SUV in the domestic market

The South Korean government is reportedly looking into allegations of leaks of key nuclear reactor technologies to other countries. According to multiple local news reports Tuesday, the Nuclear Safety and Security Commission and the National Intelligence Service are verifying the authenticity of a tipoff delivered to the NSSC through a nuclear safety ombudsman system. Based on the tipoff, one retiree from state-run nuclear operator Korea Hydro & Nuclear Power has allegedly leaked &ldquo

SK Holdings’ US subsidiary Ampac Fine Chemicals celebrated the opening of its contract development and manufacturing facility with production capacity of 180,000 liters in Petersburg, Virginia, on Sunday. SK Holdings acquired AFC in July 2018, marking the first global acquisition by a Korean pharmaceutical firm. At the time, industry insiders reportedly viewed the acquisition as a milestone for a Korean pharma firm to acquire a 100 percent stake in AFC, a contract development and manu

Porsche Korea, local unit of the German luxury carmaker, opened a new studio in Gangnam, southern Seoul, on Tuesday, in a bid to appeal better to younger customers.The new retail format introduced by the carmaker is the eight of its kind in the world and has been opened to provide a wide-ranging brand experience, from cars to custom-made accessories. “Porsche Korea will position ‘Porsche Studio Cheongdam’ as a cultural space where existing customers as well as potential cl

Samsung Electronics Co. and SK Telecom Co. said Tuesday they have agreed to work together to upgrade the performance of the commercial 5G network and develop technologies related to 6G.Samsung, which provides end-to-end 5G solutions ranging from modems and chipsets to smartphones, has been providing its equipment to South Korea's leading mobile carrier for the commercial rollout.  As SK Telecom is currently building additional base stations to expand nationwide coverage, the two companies f