Minister touts equipment reentry as outcome of close cooperation between Seoul, Washington

Hyundai Motor Group said Tuesday that its urban air mobility arm Supernal, along with its sister firm Kia, are showcasing their latest UAM vision and drone technology at this week's Seoul ADEX 2023, Korea’s largest aerospace and defense trade show. This is the first time for the US-based Supernal to set up an exhibition booth at the biennial event since its launch in 2020. During the event, it aims to raise its brand awareness and seek new business opportunities. At this year’s

South Korea’s mobile app store operator One Store said Tuesday that it has secured an investment worth 20 billion won ($14.7 million) from Krafton, one of the country’s major game developers. Krafton said it made the investment decision to broaden its understanding of the global game market through One Store's overseas expansion. They did not disclose the size of the stake that Krafton had taken. One Store was jointly developed by Korean telecommunication giants SK Telecom a

Seoul-based private equity firm MBK Partners Founder and Chairman Michael Byung-ju Kim has offered a donation to the Metropolitan Museum of Art in New York to promote Korean art in the museum, the firm said Tuesday. The donation is part of the Korean Art Initiatives project, which was devised to honor the 25th anniversary of the Arts of Korea gallery at the museum, along with the Korea Foundation and the Samsung Foundation of Culture. Scholarships and educational programs will help to bolster th

Hyundai Rotem, a defense solutions and railway vehicles maker affiliated with Hyundai Motor Group, said Tuesday it is showcasing its next-generation defense technologies during the Seoul International Aerospace & Defense Exhibition 2023, which is taking place at Seoul Airport in Seongnam this week. The biennial event is the defense industry's biggest gathering in Korea. This year, a record 550 exhibitors from 35 nations are joining the event. Under the theme of “Shielding Peace wi

Jose Augusto Saraiva Pinto (center), deputy chief of mission from the Czech Republic, prepares a BBQ Golden Olive chicken at the Global Chicken Camp hosted by Korean chicken giant Genesis BBQ in Icheon, Gyeonggi Province, Friday. Genesis BBQ said Tuesday the company's Chairman Yoon Hong-geun invited officials from embassies of Belarus, Czech Republic, Iraq and Bangladesh to present BBQ's global strategies and offer a tour of its educational center, known as Chicken University. The even

Park Jong-bok, the CEO of Standard Chartered Bank Korea, has been nominated as the sole final candidate for the bank's top position again, according to the lender on Monday. The bank's executive candidate recommendation committee selected Park as the final candidate for the next CEO during a meeting held last Friday. If appointed, he will be serving his fourth term, which will last for a year starting Jan. 8, 2024, as the CEO of SC Bank Korea. "Since assuming the top position in 2

A Genesis G80 sedan, wrapped with the promotional designs for Busan’s Expo bid, is displayed at Hyundai Motor Studio in Goyang, Gyeonggi Province, Tuesday. Hyundai Motor Group said the special exhibition will be held until Nov. 28 when the host country of the 2030 World Expo is decided during the general gathering of the Bureau International des Expositions in Paris. (Hyundai Motor Group)

Smartphone shipments within the domestic market declined over 13 percent on-year in the second quarter, recent data showed, as demand remained sluggish due to the economic downturn with high interest rates and inflation. The total number of smartphones shipped came to approximately 2.8 million units for the April-June period, down 13.2 percent from a year ago, as “demand for smartphones continued to slow down amid economic uncertainties,” the Korea branch of International Data Corpor

South Korean liquor giant HiteJinro said Monday it is building the company's first overseas manufacturing plant in Vietnam, riding high on the growing popularity of the nation's distilled spirit abroad. According to HiteJinro Singapore, the company confirmed a sublease agreement with the Green I-Park Industrial Complex in Vietnam's Thai Binh province to establish HiteJinro’s new soju manufacturing plant at the site. HiteJinro Singapore is HiteJinro’s affiliate newly es

Celltrion Healthcare, Celltrion's distribution unit, said Monday it has signed a deal with US specialty pharmacy chain CarePartners Pharmacy to sell its Humira biosimilar Yuflyma in the US market. CarePartners Pharmacy is a national pharmacy that distributes medications across all 50 states and Washington DC, focusing on several niche programs, including autoimmune therapies. Under the contract, Yuflyma will be distributed to drug stores operated by CarePartners Pharmacy nationwide, startin

HD Korea Shipbuilding & Offshore Engineering, the shipbuilding unit under HD Hyundai, announced Monday that it is set to construct two of the world’s first ammonia-powered medium-sized vessels, with targeted delivery by 2026. The company said it has decided to adopt a dual-fuel engine using both ammonia and liquefied petroleum gas for two ship orders made by Belgian shipping firm Exmas in March. The ships, slated for construction at the Hyundai Mipo Shipyard in Ulsan, measure 45,000 cu

Meat prices rise most among daily necessities; ramen, soju see 8-fold, 14-fold surges respectively

Executives to discuss management strategies amid geopolitical uncertainties, ramp up last-ditch efforts for Busan's Expo bid

South Korean chemical and battery materials manufacturer Posco Future M has achieved 100 percent recycling of refractory waste, gaining a foothold in green transformation, the company said Monday. Usually, in the shape of bricks, refractories are solid materials that can withstand high temperatures, preventing the heat of metal from damaging the steelmaking furnaces. Posco Future M used to bury refractory waste in landfills, as recycling was only limited to refractories made of renewable sources