In the region's first attempt to initiate a global economic diplomacy, Governor of South Gyeongsang Province Park Wan-soo will make his first overseas business trip to Spain and France in a bid to support local companies' foray into the European markets and attract investments for Korea's aerospace industries, said Gyeongsang Province's investment agency on Wednesday. The trip, which will start in Spain, will see the Korean delegation meet with the Ambassador of Spain to Kore

US export curbs against China met with skepticism

Hyundai Motor chief reaffirms will to reach carbon neutrality by 2045, hints at new hydrogen-powered car launches in US

Job gains slowed for second consecutive month, with almost 40% of jobs added for seniors 60 or older

Samsung Electronics has been picked as the most desirable company to work for among college students here this year, occupying the top spot for the first time in a decade, a tally from a job portal showed Wednesday. Incruit surveyed 872 job-seeking university students nationwide and the results showed 8.1 percent of them chose the tech giant out of 130 listed companies by market capitalization on South Korea’s benchmark Kospi and secondary Kosdaq. Those who picked Samsung cited the company

South Korean food company Daesang said Wednesday it had completed a sample production of cadaverine, a biologically derived chemical that can replace petroleum-based substances in the production of nylon and other polymers. This comes in an effort to expand its business in white biotechnology -- a process that uses living cells from plants, enzymes and microorganisms to produce value-added chemicals, materials and fuel at a lower carbon cost. "We are conducting research and development of v

Hyundai Vietnam Shipbuilding Co., a unit of South Korean shipbuilding, oil refining and machinery conglomerate HD Hyundai, said Wednesday it has recently clinched an order to build two oil and chemical tankers for an African shipping company. The latest order raises its cumulative orders to 199 vessels, a feat achieved 15 years after its entry into the new business area of shipbuilding, the company said, without providing any details on the financial terms of the latest deal. Hyundai Vietnam Shi

Korean parents’ education fever driving up sales of growth hormone therapies

Major firms experiment with four-day workweeks to boost work-life balance

South Korea's biopharmaceutical firm Celltrion said Tuesday it aims to have five additional biosimilars approved by the end of this year in a bid to dominate the global market worth 100 trillion won ($78.5 billion), along with its existing six products. According to Celltrion, the firm plans to obtain approval for the global licenses of five of its biosimilar products by the end of 2023 to hit the market by 2025. The company has six of its biosimilar drugs currently being sold abroad. The b

Lotte Group Chairman Shin Dong-bin (right) shakes hands with Egypt's Ambassador to South Korea Khaled Abdelrahman Hassan Abdelrahman during an event promoting Busan’s bid to host the 2030 World Expo held at the Signiel Busan in the port city on Monday. During the event organized by Asia Society Korea, a private diplomatic organization established by the Lotte chief to network with embassies in Korea, Shin inspected Busan North Port, the potential expo site together with ambassadors to

Questions raised over fairness of holding Korean automakers accountable for criminal activities

LG Electronics CEO Cho Joo-wan (front row, 7th from left) and company employees join a promotional event for the tech giant’s new corporate slogan, “Life’s Good,” in front of the company’s headquarters in Yeouido, western Seoul, on Tuesday. LG is carrying out diverse activities to publicize its new brand identity as part of its Reinvent program launched in April.

South Korean steelmaker Posco Holdings said Tuesday that it will produce lithium hydroxide for secondary battery materials using lithium reserves from Argentina’s salt lake, making it the first domestic company to do so. The groundbreaking ceremony for the lithium hydroxide production facility for secondary batteries took place at Yulchon 1st Industrial Complex in South Jeolla Province on Tuesday. The event was attended by the National Assembly's Special Committee on Advanced Strategy

Samsung Electronics said Tuesday it was teaming up with Israeli firm SolarEdge Technologies, the world's leading solar smart inverter company, to promote carbon-neutral homes. Under the new partnership, Samsung has established a foothold for expanding its SmartThings Energy business in Europe. Samsung has previously cooperated with global solar firms including Hanwha Q Cells, SMA Solar Technology and Maxeon Solar Technologies, the company said. “We will continue to cooperate with vari