Information technology service provider LG CNS will accelerate business cooperation with Chung-Ang University to foster talent for its security business, the firm said on Tuesday. LG CNS signed an industry-academia cooperation agreement for manpower development in digital experience with Chung-Ang University on Monday at the LG Science Park in Gangseo-gu, Seoul. “As security is an essential element of DX implementation, we will concentrate on nurturing security experts to enhance the busin

Mercedes-Benz Korea's corporate social responsibility committee has donated 20 EQB vehicles -- the German automaker's all-electric SUV -- to 20 social welfare organizations across South Korea in cooperation with the Future for Youth Foundation, the company said Tuesday. The committee has donated 64 cars since 2016 to provide comfortable and safe transportation for the underprivileged. This year's charity event marked its single-largest donation to celebrate Mercedes-Benz Korea

Samsung Electronics Co. held companywide global strategy meetings Tuesday, amid continuing headwinds from the uncertain macroeconomic environment. The biannual event, taking place in June and December, is where hundreds of Samsung's senior executives from home and abroad get together to discuss pending issues, business plans and strategy. The company's device experience division, which oversees the business of mobile phones and home appliances, will hold the meetings until Thursday, wh

A restaurant worker carries naengmyeon, or cold noodles, as she delivers it to customers in Myeong-dong, Seoul, on Monday. According to a survey conducted by Korean Price Information, a research institution, on the prices of naengmyeon in 10 representative restaurants across 10 different areas of Seoul, the average price of naengmyeon has increased by 7 percent compared to last year and by 29.5 percent compared to 2018. (Yonhap)

SK Chemical said Monday it has begun commercial production of a new diabetes treatment drug co-developed with AstraZeneca. Under their partnership, SK Chemical will be responsible for production of the diabetes treatment drug that will be supplied here and overseas countries in the future, SK Chemical added. “(SK Chemical’s new diabetes treatment drug) has shown the company’s capability in developing and producing medical products. (The new treatment) is expected to help SK Che

Hyundai Motor Group's promotional videos for Busan’s bid to host the 2030 World Expo racked up over 100 million combined views after the first video was released three months ago, the country's top automotive group said Monday. The promotion campaign comprises 37 videos, which include two videos targeting the global audience, and 35 short-form videos addressing individual member countries of the Bureau International des Expositions, the international body responsible for overseei

Korea's top financial regulator announced that regulatory revisions made to support the overseas expansion of Korean financial companies will be unveiled in July, during a conference organized by Financial Services Commission on Monday at the Korea Federation of Banks building in Seoul. The Financial Services Commission has announced that the regulatory changes will be made based on extensive discussions held during a series of conferences and seminars with insiders from the local financial

S. Korean chemical and textile conglomerate focused on developing space parts made of composite materials

South Koreans ramen makers said Monday that it is currently difficult to adjust the prices of their ramen products, in response to the South Korean government's recent call for them to cut prices amid the fall in raw material costs. "Milling companies were supplied with months' worth of raw materials when their costs were high. Even if the prices of wheat and other major materials needed for making ramen have fallen recently, it is difficult to adjust the price of ramen immediatel

Samsung Electronics has adopted artificial intelligence into its design process, utilizing advanced technology to empower designers to "fully unleash" their creativity, according to the company's chief designer. "With the diffusion of new AI capabilities, new relationships need to be established between people and products. As a result, designers need to master totally new powerful tools," Federico Casalegno, the tech giant's executive vice president of design, said

The facade of Paris' Palais Garnier is covered in a Samsung Electronics' advertisement promoting its mobile phones and Busan's 20230 World Expo bid, in this photo provided by the tech giant on Monday. Samsung is launching a two-day promotion event on Tuesday supporting Busan's bid in Paris, where the general assembly of the Bureau International des Expositions is slated to take place in November. The host country of the World Expo 2030 will be decided there.

Hanwha Solution said Monday it is poised to build an industrial complex for manufacturing semiconductors and auto parts in Hwaseong, Gyeonggi Province, in a move to offset its sluggish oil and gas business. According to the company, Hwaseong City has approved its business plan to construct the industrial zone, called H-Techno Valley. With a joint investment worth 380 billion won ($296 million) by the firm and the city government, the construction project is scheduled to be completed by 2027 in t

Latest electrification vision targets domestic, global sales of 50,000 this year

South Korea's leading kimchi maker Daesang Corp. said Monday it has acquired US food company Lucky Foods as part of its efforts to expand its kimchi business in the United States. Daesang said it acquired all of the shares and facilities of Lucky Foods after securing a 38 billion won ($29.7 million) fund through a paid-in capital increase. Founded in 2000, Lucky Foods is an Asian food company based in Oregon whose main products include Seoul Kimchi, Korean-style sauces, including Seoul Goch

From Naver to Google, global tech giants working on Korean-language AI models to take advantage of K-culture boom