Despite mixed reactions to taste, nutritional value, consumers turn to lower price of imported milk

Doosan Bobcat, a South Korean compact equipment manufacturer, has commercialized the country's first hydrogen-powered forklift. The development was marked by a first shipment ceremony on Tuesday at the company's Incheon forklift plant. Korea Zinc, which operates the world's largest zinc smelter, is set to be the first customer for the forklift, in alignment with their 2050 decarbonization goals under the RE100 initiative. The 3-ton model hydrogen forklift, equipped with a 20-kW fu

South Korean IT solutions provider LG CNS on Wednesday unveiled its own large language model for code generation, enabling developers to mitigate the possible security risks of artificial intelligence. In June 2023, LG CNS first launched "AI Coding,” a ChatGPT-based service that supports code generation for a system, application or service. Developers can ask AI Coding to convert, generate, recommend, and check the errors of codes in line with their requirements. The company had appli

Citibank Korea said Wednesday it sponsored the ninth Climate Action Conference, held on the previous day at a hotel in central Seoul. The event was jointly hosted by the Korean chapter of the World Wide Fund for Nature, United Nations Global Compact Network Korea and Korea Sustainability Investing Forum. According to the bank, this year's conference was devoted to providing practical guidance for the local companies trying to engage in the global Science-Based Targets Initiative, while intr

Energy-to-defense giant Hanwha Group said Wednesday its shipbuilding and machinery manufacturing affiliates presented their state-of-the-art defense technologies to the head of Canada‘s leading global affairs research group, in the companies' efforts to expand their footing in the North American market. According to Hanwha, Dr. David Perry, the president of Canadian Global Affairs Institute, took an extensive tour of Hanwha Ocean and Hanwha Aerospace's facilities during his visit

Korean construction giant GS Engineering & Construction said Wednesday it posted record sales in 2023, largely buoyed by upbeat overseas orders amid a housing market slowdown at home. The company's sales reached 13.43 trillion won ($12.21 billion) last year, up 9.2 percent from a year before. The sales figures were the highest in the builder’s history. Sales at the building and housing business division increased by 9.7 percent to 10.23 trillion won, while the company's infra

SK Networks said Wednesday that it has forged a partnership with US tech tycoon and investor Vivek Ranadive to cooperate on investments in futuristic technologies with a strategic focus on artificial intelligence. The nonbinding agreement was signed in Seoul on Thursday upon the visit of Ranadive, founder and managing director of Silicon Valley-based venture capital firm Bow Capital. He also owns the NBA’s Sacramento Kings. SK Networks President and Chief Operating Officer Choi Sung-hwan h

Kakao Friend emojis will gradually be discontinued on KakaoTalk, South Korea’s No.1 messaging app. The app’s operator Kakao decided to end all free Kakao Friends emoji services, but details of the plan are under consideration, according to local media reports Wednesday. The emojis are 34 non-moving images showing various expressions by the five initial member characters of Kakao Friends -- animal or fruit-based characters licensed by Kakao. The emojis have received broad love from

Korean Air Co., South Korea's national flag carrier, said Tuesday it had shifted to a net loss in the fourth quarter of 2023 from a year earlier due to increased operating costs. Korean Air swung to an estimated net loss of 234.59 billion won ($176 million) in the three months ended on Dec. 31 from a net profit of 353.98 billion won a year earlier, the company said in a statement. Operating profit likely plunged 65 percent to 183.61 billion won in the October-December period from 520.08 bil

With over 20 years of experience in auto industry, Bang Sil focused on strengthening communication

Potential IRA tax credit withdrawal could weigh heavily on Korean firms invested in US

Samsung Biologics shares extended a rally Tuesday on upbeat sentiment that the company may be benefiting from US-proposed legislation that aims to restrict Chinese biotech firms from accessing the all-important American market. Last week, members of a bipartisan House Select Committee introduced a bill barring contracts with Beijing Genomics Institute and some Chinese biotech companies for their alleged connection with China’s People’s Liberation Army. The proposed bill specifically

Korean authorities push back, vowing to control monopolistic activities by big platform operators

Preparations in full swing to launch pet treatments in Thailand, Japan

Samsung Electronics said on Tuesday it is starting sales of its latest flagship smartphone the Galaxy S24 globally, largely buoyed by record preorders made at home over the past week. The new phone, dubbed the world’s first smartphone powered by artificial intelligence, is expected to hit the shelves first in key markets, including the US, Britain, Singapore, France, and India, from Wednesday. Ultimately Samsung aims to launch the phone in some 120 countries. “The launch of the Galax