Battery maker LG Energy Solution said Friday it has signed a deal with Green Technology Metals (GT1), a lithium exploration and development business, as part of efforts to establish a supply chain of critical raw materials for batteries in the North American region. Under the deal, LGES will subscribe to 21,739,130 new shares in GT1 at a price of 0.92 Australian dollars ($0.61) per share, for a total of A$20 million. The subscription price represents 7.89 percent of GT1’s ordinary shares o

Regarding the news that the US government might officially interfere with South Korean national carrier Korean Air's merger with its smaller domestic rival, Korean Air said that the US authorities have not told them of any official decisions, Friday. According to the US news website Politico, the US Justice Department is considering a lawsuit against the Korean Air on the basis that the company's business integration with Asiana Airlines could result in a monopolization that could prev

Naver Pay app installations soared 186 percent to 470,000 in April, a month after it integrated its payment service with Samsung Pay, according to Naver Financial. "We see that the number of app installations for Samsung Pay's interlinked offline payment service has significantly increased,” a Naver Financial official said in a statement Thursday. "The usage of the payment service has expanded to include a wider range of locations, encompassing not only convenience stores

Hyundai Motor Group Executive Chair Chung Euisun mentions possibility of producing revived vehicle for sales

Top officials of South Korea and the United States have discussed ways to bolster technology diplomacy in artificial intelligence and other areas, Seoul's foreign ministry said Friday. The director-general-level meeting, held in Seoul the previous day, was attended by Yun Hyun-soo, head of the ministry's bureau for climate change, energy, environment and scientific affairs, and Seth Center, the deputy envoy for critical and emerging technology of the US State Department. The two sides

Expectations high on upcoming Aurora hybrid car to beef up production

Kumho Tire announced Thursday it has successfully sponsored the opening race of the Touring Car Racing World Tour, a renowned motorsport competition promoted by WSC Group that took place April 29-30 at the Algarve International Circuit in Portugal. Signing a three-year title sponsorship deal with WSC last February, Kumho sponsored all the racing tires in the drivers’ cars for the competition, leading to dynamic races. Prestigious carmakers such as Audi, Honda and Hyundai Motor have shown t

Samsung Electronics, the world’s largest memory chip maker, said Thursday it kicked off the mass production of its 16-gigabit DDR5 DRAM, which utilizes the industry’s most advanced 12 nanometer-class process technology. Boasting a maximum speed of 7.2 gigabits per second, which translates into speeds that can process two 30 gigabyte UHD movies in about a second, Samsung’s newest DRAM lineup will support a growing list of applications including data centers, artificial intellige

K-food's popularity, healthiness give Ourhome competitive edge in overseas markets, US business chief says

LG Energy Solution, Stellantis ready to scrap Canadian joint plant altogether: report

LG Water Solutions, the arm of LG Chem specializing in manufacturing seawater reverse osmosis membranes, has secured an exclusive supply agreement for the Ashdod Rehabilitation Project in Israel, aiming at strengthening the company's presence in the Mediterranean desalination market. Under the agreement, LG Water Solutions will supply a total of 30,000 SWRO membranes to the Ashdod plant throughout the year. With a capacity of 336,000 m3/day, this can generate clean water for approximately 1

Samsung SDS announced Thursday the company’s plan to upgrade Cello Square, its digital forwarding platform offering one-stop freight shipping solutions, and tap deeper into the global market, through further digitalization. The IT solution provider affiliated with Samsung Group also explained that it has added new service functions to Cello Square -- data analysis, automation and a carbon emission tracker -- to make it more convenient for clients. “Cello Square will lead Samsung SDS&

Canadian multinational coffeehouse Tim Hortons is opening its first outlet in South Korea this year, according to industry sources on Thursday. Known for its 60-year history and Canadian heritage, Tim Hortons has some 5,600 locations in 15 countries, including the US, Spain, Mexico and Thailand. It is also an affiliate under Restaurant Brands International, one of the world’s largest quick-service restaurant companies that also runs other fast food chains Burger King and Popeyes. Tim Horto

SK Group Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, talks with “global supporters” for Busan’s bid to host the 2030 World Expo at a traditional market in central Seoul on Wednesday. A total of 120 young people, including 50 foreign nationals, are serving as supporters for Busan’s Expo bid as they carry out promotional activities throughout the world.

The Formna, a South Korean online retailer, announced Thursday it is launching the 2023 BTS Permission to Dance Spring Sandals in July through an official licensing agreement with Hybe, the K-pop agency behind the global sensation. According to the Formna, the BTS-themed sandals, in both black and white versions, will be produced in collaboration with Noitavonni, a Korean shoemaker specializing in health care shoes. The company’s air cushion patents have gained approval from the US Food an