Top 4 chaebol groups confirmed to rejoin after nearly 6-year hiatus

DGIST scientists develop electroceutical technology capable of rejuvenating old muscles

Asiana Airlines, South Korea’s second-biggest carrier, signed a memorandum of understanding with Seoul Arts Center on Tuesday to ramp up their partnership in promoting arts and culture. Held in SAC’s Opera Theater, the signing ceremony was attended by Asiana Airlines Vice President Won Yoo-suk and Seoul Arts Center President Chang Hyoung-joon. Under the agreement, Asiana Airlines will offer flight benefits for artists and artworks, provide in-flight screenings of SAC’s contents

LS e-Mobility Solutions, an electric vehicle parts manufacturer under LS Electric, said Tuesday it has clinched a deal with Hyundai and its smaller affiliate Kia to supply EV battery management components worth 250 billion won ($186.5 million). The company’s products, called EV Relay, are used to maintain the safe operation of batteries in EVs by transferring battery current to inverters, while shutting it down in case of fire or current voltage overload. The company plans to supply EV Rel

LG Electronics is considering launching cosmetics products in line with the release of a new model of its skin care device under the in-house home beauty brand Pra.L in the first half of next year, according to its recent semi-annual report on DART, the Financial Supervisory Service's electronic disclosure board. An LG Electronics official said Tuesday the company is in talks to collaborate with a local cosmetic manufacturer rather than producing the products itself. “We may go throug

KB Kookmin Bank, South Korea's leading commercial bank, and Citibank Korea inaugurated a joint branch in Daejeon on Monday, according to the Korean lender. Typically, when a bank's branch faces challenges in sustaining its operations while demand still exists in the area, the option of establishing a joint branch is contemplated, an official from KB Kookmin Bank explained. The joint branch will consist of a KB Kookmin Bank branch on the second floor of Citibank's current Daejeon J

The Lamborghini Super Trofeo Asia returns to the Inje Speedium in Gangwon Province for the first time in three years. The Korean circuit hosted the fourth round of the racing tournament from Friday to Monday. Korean drivers Lee Chang-woo and Kwon Hyung-jin, representing SQDA-GRIT Motorsport, maintained the top spot in the season standings after winning the first race in the amateur class and finishing second in the same class's second race. Having completed four races, in Malaysia, Australi

South Korean air mobility start-up Toff Mobility said Tuesday that it plans to launch Asia’s first airline dedicated to battery-powered electric planes, in a move to reduce carbon emissions in the industry. Under the plan, Toff Mobility will introduce electric planes certified by the European Union Aviation Safety Agency to start tourism and logistics businesses next year. By 2026, it aims to expand the service to the regional airports and the nation's two islands of Ulleung and Jej

New orders won by South Korean shipbuilders jumped 11.9 percent in the first half of 2023 on the back of rising demand for high-priced vessels, the industry ministry said Tuesday. The country's shipbuilders secured orders worth $9.29 billion in the January-June period, compared with $8.24 billion a year earlier, according to the Ministry of Trade, Industry and Energy. South Korea accounted for 29 percent of the orders placed worldwide in the first half, taking up the world's second spo

Samsung, SK, Hyundai, LG likely to rejoin disgraced business lobby, join forces for its recovery

SK Ecoplant, the construction and energy arm of SK Group, said Monday that its US partner Bloom Energy has signed a supply deal for solid-oxide fuel cells, or SOFCs, with energy conglomerate EnBW, its first customer in Germany, with an aim to expand its presence in the European market. Under the agreement, Bloom Energy will provide 300 kilowatts of SOFCs to the geothermal plant of Geothermie-Gesellschaft Bruchsal, the affiliate of EnBW in Bruchsal, southern Germany. Since 2018, SK Ecoplant has b

Seoul Mayor Oh Se-hoon shows strong commitment to transforming Yeouido into global financial hub

Kia unveiled the restored models of the automaker's two signature heritage vehicles -- the T-600 (left) and Brisa -- at its brand experience center, Kia360, in Seoul on Thursday. T-600, a three-wheeled car developed in 1969, became the 400th nationally registered cultural heritage in 2008 as it was recognized for its historical value in the history of the Korean auto industry. Kia said it had restored the vehicles to look back at its 79-year history as a mobility firm, adding that it will c

South Korean retail conglomerate Hyundai Department Store Group said Monday it signed an agreement with global health care giant Nestle Health Science in a bid to expand its health-functional food business, one of its key growth drivers. During a signing ceremony held at Nestle's headquarters in Vevey, Switzerland, the two companies agreed to establish a partnership for Hyundai's exclusive distribution rights of Nestle’s health functional food products in Korea. "The bio-hea

World's 2nd-largest memory chipmaker seeks to cement leadership in burgeoning HBM market