SK Group announced Sunday that the total social value generated by its key affiliates last year was 20.5 trillion won ($15.6 billion), up 1.6 trillion won or 8.6 percent from the previous year. Social value refers to the degree to which companies have contributed to solving or alleviating social problems facing stakeholders. The nation’s second-largest conglomerate has unveiled the value of its social impact every year since 2018. Economic contribution, consisting of employment, dividends

Korean auto giant diversifies battery suppliers in emerging markets amid protectionist policies in US, Europe

The Korea Herald, South Korea’s largest English daily, on Thursday held a charity golf tournament to celebrate its 70th anniversary and renew its commitment to boosting the global potential of Hangeul, the Korean alphabet. About 250 participants, consisting of CEOs across industries, celebrities and sports stars, joined the event held at Serenity Golf Club in Cheongju, North Chungcheong Province. “Based on your support and affection today, The Korea Herald will ramp up efforts for Ha

Lotte Group Chairman Shin Dong-bin (sixth from left) joins the group’s promotional activities to support Busan’s 2030 World Expo bid during the 2023 Lotte Open of the Korea Ladies Professional Golf Association’s Tour held at Bear’s Best Golf Club in Cheong-na, Incheon, on Saturday.

Hyundai Oilbank is ramping up efforts to fulfill its environmental, social and governance goals by accelerating its sustainable businesses and contributing to social enrichment, the company said Friday. As part of the efforts, the company is set to build an eco-friendly power plant that uses both liquefied natural gas and blue hydrogen as fuel. Hyundai E&F, the oil company's power generation affiliate, will build a power plant with a capacity of 230 metric tons of steam per hour and 2

Shin Ho-cheol, the vice president of Kakao Pay also known as Simon Shin, has been appointed as a board member of the US brokerage firm Siebert Financial. This appointment follows the online payment unit of South Korean tech giant Kakao Corp.'s recent announcement of its intention to acquire a majority stake of up to 51 percent in Siebert with a total investment of approximately $77.38 million. Siebert, listed on the tech-heavy Nasdaq, offers a range of brokerage and financial advisory servi

LG Chem CEO Shin Hak-cheol traveled to Japan to host a recruitment event, as the company seeks talent to boost its material, biotechnology and equipment sectors, the chemical firm said Friday. Shin hosted the “Business and Campus Tour” at the Intercontinental Tokyo Bay Hotel on Thursday, which invited some 40 doctoral candidates and master's students in science and engineering from seven major universities in Japan, including the University of Tokyo and Kyoto University. “

Meta CEO Mark Zuckerberg unveiled the Quest 3, his company’s latest virtual and mixed reality headset, via social media on Thursday, teasing the product before rival Apple’s similar launch expected next week. In a video on Instagram, Zuckerberg showed the Quest 3, which releases in fall. Meta said the latest headset features higher resolution, stronger performance with Meta Reality technology and is slimmer with a more comfortable form factor than the previous iteration. The latest d

Samsung Electronics said Friday it is joining hands with Naver Cloud to launch a private 5G network for Hoban Construction, bringing the private 5G network in the construction sector for the first time. Samsung said it will be developing the 5G network for Hoban Construction, a mid-tier local builder to enhance worksite safety and efficiency. The 5G network will support new construction industry-specific 5G applications to help reduce on-site hazards and errors, including drone-based high-resolu

Shinhan Bank encountered a currency exchange system error around 9:30 a.m. on Thursday. As a result, currency-related services, including overseas remittances, were temporarily suspended for approximately 2 1/2 hours until the system was restored at around noon. "We made sure that for clients who requested overseas remittances during the service outage, we apply the exchange rate at the time of their request to minimize any potential customer losses from exchange rate fluctuations," a

Samsung Electronics’ marketing chief on Thursday hinted that the tech giant’s Galaxy Unpacked event could be held in South Korea for the first time this summer. “South Korea is an important market and Seoul is a meaningful place,” Lee Young-hee, president of global marketing at Samsung’s mobile business division, told reporters last week at the Samsung Ho-Am Prize award ceremony when she was asked about the possibility of Samsung unveiling its new foldable phones in

South Korean handbag maker JS Corp. said Friday it recently lent 100 billion won ($76 million) to its affiliate JS 747, in its effort to gain a controlling stake in Grand Hyatt Seoul, a historic five-star hotel located in central Seoul. In a regulatory filing, JS Corp. reported it decided to lend a total of 100 billion won, which amounts to 39.14 percent of the firm's total equity, to its subsidiary JS 747. JS 747 is a special purpose company, jointly established by JS Corp. and a local ass

Hyundai Motor Company launched a revamped version of the Palisade in Korea with enhanced safety features on Friday. For the latest Palisade 2024, the automaker introduced a new trim, dubbed Le Blanc, which has been equipped with various customer-preferred specs, including a smart power tailgate, 20-inch wheels, organic leather sheets, wireless smartphone charging and a surround-view monitor. The new Palisade 2024 has also been revamped with new safety features, including blind collision warning

Samsung Electronics Chairman Lee Jae-yong attended the awards ceremony for the Samsung Ho-Am Prize held in Seoul, Thursday, renewing his commitment to inheriting the group’s founding spirit of “patriotic industrial service,” according to company officials. It was the first time for Lee to take part in the annual event as chairman of the tech giant. The Samsung Ho-Am Prize, which uses the pen name of Samsung Group’s late founder Lee Byung-chull, was established in 1990 by

Prices for hamburgers rose 10.3 percent in March and 17.1 percent in April, according to Statistics Korea. The increase marked the highest growth in 19 years. Such inflation in hamburgers came after major franchise companies raised their prices 4 to 5 percent in February and August of last year, and again in February this year. Pizza prices also set a record high in nearly 15 years with a near-12 percent increase in April. Chicken prices increased by 6.8 percent in the given period, which is low