Popular dining menus see 10% growth in prices over past year alone, with no immediate signs of abating

Ministry seeks ways to recover reduced trade with China, nation’s biggest trade partner

Hyundai Motor Group Executive Chair Chung Euisun will join a lunch auction event to better connect with the younger generation, the Federation of Korean Industries said Monday. The business lobby has invited the Hyundai Motor chief, along with car-sharing company SoCar CEO Park Jae-uk and TV celebrity Noh Hong-chul, to take part in the event, similar to billionaire Warren Buffett's famous charity lunch. A total of 30 people will be selected for the power lunches targeted at the “MZ ge

SK IE Technology, an electronics materials maker affiliated with SK Group, said Monday it is supplying battery separators to Chinese battery maker Sunwoda Electronic, paving the way for it to secure a footing in China’s burgeoning electric vehicle market. The two companies recently signed a memorandum of understanding at Sunwoda’s headquarters in Shenzhen, with senior executives of both companies in attendance. A battery separator is one of the key components of EV batteries, as it p

The price for a bowl of jajangmyeon, or noodles in black bean sauce, has soared more than 60 times to 6,361 won ($5) over the past five decades, according to market tracker Korea Price Information. A bowl of jajangmyeon was 100 won in 1970 when the KPI began its first survey, but it had risen to around 2,500 won in 2000. Over the last five years alone, the price has jumped 26.9 percent largely due to growing ingredient prices. The prices of flour, cooking oil, onions and cucumbers used in jajang

CATL battery pack to enhance car’s competitiveness in Korea, US, says Hyundai product development manager

Top brewer Oriental Brewery's Hanmac, a rice-based lager beer, has returned with an upgraded design and fresh quality. Hanmac was launched in 2021 to celebrate the 100th anniversary of the nation’s beer history as part of the brewer's ambitious project to become “Korea’s most representative lager." The new version of Hanmac boasts a new, softer mouthfeel and a head with a longer-lasting taste by using a four-step microfiltration process. In addition, the company

South Korean industrial giant Doosan Corp. is set to expand its presence in the North American market through a strategic partnership with Rockwell Automation, the preeminent industrial automation solutions provider in the US. Doosan said Sunday its robotics unit, Doosan Robotics, and Rockwell signed a memorandum of understanding in Washington last Tuesday in commemoration of the 70th anniversary of the Korea-US alliance. Under the agreement, Doosan will exclusively supply collaborative robots,

Samsung Electronics is expected to cut its memory chip production by up to 25 percent in an effort to ease inventory woes, according to analysts on Sunday. The projection comes after the world’s largest memory chip maker hinted on an earnings call last week that it would start cutting production of legacy products for which it had already secured sufficient inventory to meet mid- to long-term demand. At the time, the company did not specify the reduction scale. Following the announcement,

Korea looks to unveil industrial strategy for advanced robotics by first half of the year

HD Hyundai CEO Chung Ki-sun recently visited several US subsidiaries to personally meet with and extend gratitude towards employees whose family members are Korean War veterans, according to the shipbuilding giant Sunday. As a member of an economic delegation accompanying President Yoon Suk Yeol on his state visit to the US, Chung visited HD Hyundai’s local operations in Alabama and Georgia. In particular, he met with six employees working at a HD Hyundai power transformer plant in Alabama

Genesis BBQ Group Chairman Yoon Hong-geun (right) and Rajendra Jagdale, the director general of Science and Technology Park in India, pose after their meeting in Seoul last Wednesday. The two discussed ways for the Korean chicken franchise to enter the Indian market and share its business know-how with local partners.

Doosan Corp., the holding company of South Korea's energy-to-construction equipment conglomerate, said Sunday it has signed an initial pact with a US industrial automation firm to expand into the US smart factory market. On April 25, Doosan Corp. signed a memorandum of understanding with Rockwell Automation, Inc. to develop robotic and other technologies for automation facilities, smart factory construction, and other solutions for their global customers, Doosan said in a statement. Under t

Korean golfers purchase nearly half of golf apparel globally; Fashion brands flock to launch their first golf wear lineup

GENEVA -- The World Trade Organization (WTO) on Friday confirmed a ruling in favor of South Korea in a dispute over the United States' safeguard measures on large-sized residential washers and parts, officials said. The WTO's dispute settlement body endorsed a report issued by an appeals panel in February that it could not see any violation of WTO rules by South Korea in all of the five core issues surrounding the matter, South Korea's Permanent Mission in Geneva said. In May 2018