Buoyed by Nabota's success, Korean pharmaceutical giant looks to new markets for Fexuclue, Envlo

Tech giant to pour over W50tr to consolidate home appliance leadership, accelerate future growth drivers

Lee Bok-hyun, governor of the Financial Supervisory Service, urged foreign financial firms Wednesday to prioritize effective risk management in a roundtable meeting with their CEOs in Seoul on Wednesday. "In light of recent domestic and international uncertainties, I urge foreign financial firms to proactively prioritize the firms' soundness and effective risk management," Lee said during the meeting. Lee, who has been prioritizing the improvement of internal controls for Korean f

The Ministry of Agriculture, Food and Rural Affairs recently met with South Korean dairy companies in a bid to increase the pressure on them to minimize price hikes for milk, according to Food Ministry Wednesday. According to a Food Ministry spokesperson, the Food Ministry asked Korean dairy companies during a closed-door meeting to minimize price hikes for milk that are expected to take place amid a forthcoming surge in the price of raw milk. Currently, Korea Dairy Committee, a private organiza

Two companies to build 20 MW hydrogen fuel cell power plant in Korea

SK Telecom CEO Yoo Young-sang (center left) and Hana Financial Group Chairman Ham Young-joo (center right) attend the launch ceremony of the AI Lab for Startups, their joint startup accelerator program, at a Sparkplus co-working office in southern Seoul on Tuesday. The nation’s top telecom and financial firms have teamed up to nurture promising startups specialized in artificial intelligence as part of their strategic partnership signed last year. A total of 15 startups have been selecte

Bacardi Korea, the leading rum brand in South Korea, will be launching its "Do What Moves You" (DWMY) campaign in collaboration with artists Toil and Skinny Brown from record label Daytona Entertainment. Marking the third DWMY campaign in Korea, this year’s campaign is targeted at the younger MZ audience -- an acronym for millennial and Generation Z -- who strive to express themselves confidently and unapologetically without being swayed by others' opinions. The campaign wil

South Korean shipbuilder Hanwha Ocean Co. said Wednesday it has succeeded in developing three key devices of a submarine sonar system. They include a sonic depth finder, a sonar beacon and an underwater environment measuring apparatus, which could help boost the operational capability and viability of a submarine, Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co., said. A sonic depth finder, or fathometer, uses sound waves to determine the depth of water, and a sonar beacon

Carmaker’s vision of ‘ultimate mobility’ inches closer to reality

KB Financial Group Chairman Yoon Jong-kyoo said Tuesday he is joining the "Zero Disposables Challenge," a campaign launched by the Minister of Environment Han Hwa-jin in February to encourage using more reusable products than disposables. The KB chief encouraged the public to join forces, saying "Even small actions that consider the environment can be widespread."

YEONGWOL, Gangwon Province -- In a push toward digital transformation, South Korean telecommunications giant KT Corp. has launched communication-based digital solutions to help improve worker safety in mines. Jointly developed with Almonty Korea Tungsten Corp., the Korean office of a Canadian mining firm, the LTE-based communication infrastructure has been deployed at Sangdong Mine, in Yeongwol-gun, Gangwon Province. The KT-Almonty "mine safety DX" solution is composed of smart devices

Chief commercial officer touts chip giant’s extensive partnerships with Korean tech firms

Posco Holdings has set a goal of achieving 62 trillion won ($48 billion) in sales of secondary battery materials by 2030 by expanding its raw material production capacity, it said Tuesday. During its Posco Group Secondary Battery Materials Business Value Day, the firm announced the new goal, which is a 51 percent increase compared to the announced target last year of 41 trillion won. The raw materials it plans to expand production include lithium and nickel as well as next-generation, cathode an

Hyundai Motor Group has hired female workers for its local production plants for the first time since its founding, according to the nation’s umbrella union on Tuesday. Among a total of 200 factory workers hired in July, six were women, the Korea Metal Workers’ Union said. The carmaker, however, did not reveal the exact gender ratio. Currently, the carmaker employs around 28,000 factory workers, among whom approximately 500 are women. Most of the female employees had previously worke

NHN Commerce, the retail unit of South Korean information technology company NHN Corp., said Tuesday it acquired a controlling stake in Italian luxury fashion brand retailer Ikonic, in a bid to further extend its reach into the global stage. NHN Commerce now holds a 77.8 percent stake in Ikonic -- an Italian multi-brand fashion platform retailing over 250 brands in the global market. Terms of the deal were not disclosed. Ikonic's annual sales stands at some 100 billion won ($77 million) in