South Korean President Yoon Suk Yeol (center), Samsung Electronics Chairman Lee Jae-yong (third from left) and other government and company officials pose for a photo at Samsung Display’s Asan Campus in Gyeonggi Province on Tuesday in celebration of the tech giant’s new 4.1 trillion won ($3.1 billion) investment into upgrading production lines of high-end display panels by 2026. Samsung said its planned investment could help facilitate related industrial ecosystems as well as the loc

Korean battery maker secures critical material in African country to cope with US, EU-first acts

Ongoing litigation between Korea Hydro & Nuclear Power, Westinghouse puts brake on Yoon's export plan

Global solutions platform Wave, launched by South Korea's largest lobby group, will play the role of bridging entities around the world to share ideas on resolving major challenges faced by the international community. Wave was launched by the Korea Chamber of Commerce and Industry on March 17 and was created as part of the strategies for the country's bid to host the 2030 World Expo in Busan. The online site enables visitors to find solutions to pending global issues such as the envir

To prevent money laundering crimes that take place overseas, the Korean financial watchdog highlighted the critical importance of implementing additional measures during a symposium hosted by the US Department of State in the Nuri Ballroom of the Four Seasons Hotel Seoul on Wednesday. “As overseas transactions of domestic financial institutions are expanding, more sophisticated and diversified methods of money laundering are also emerging,” Financial Supervisory Service Deputy

The Ho-Am Foundation on Wednesday announced the winners of its annual Samsung Ho-Am Prize award for this year in the fields of science, engineering, medicine, arts and community service. This year’s prizes went to Ihm Ji-soon, a distinguished professor at Pohang University of Science and Technology, for physics and mathematics; Choi Kyoung-shin, a professor at University of Wisconsin-Madison, for chemistry and life sciences; Sun Yang-kook, chair professor at Hanyang University, in engineer

The big data silo proposed would store history and legacy of Expo, commemorate BIE's 100th anniversary

Hyundai Motor Group won two awards at Newsweek’s World’s Greatest Auto Disruptors awards held Tuesday. Chief Creative Officer Luc Donckerwolke (right) was named the disruptor designer of the year, while Genesis House New York, a flagship luxury showroom, won the disruptor marketing of the year award. Last year, Executive Chair Chung Euisun was given the top visionary of the year award.

Despite pandemic disruptions, Korean Air posts record sales in 2022

South Korea could become the seventh country to host the three major international events, the Olympic Games, the World Cup and the World Expo, if it succeeds in its bid to host the World Expo in Busan in 2030. Currently, France, the US, Canada, Germany, Italy and Japan are the only six countries that have hosted all three international events. In terms of the World Expo, South Korea would become the 12th country to host the global event. Previously, the World Expo was held in 11 countries, incl

Masta Electric Vehicle on Tuesday signed a partnership with the Korean federation of small and medium business (SME) groups to support SME owners and expand its presence in the market. The two sides inked a memorandum of understanding at Masta Electric Vehicle’s exhibition booth at the Seoul Mobility Show held at Kintex in Gyeonggi Province. Representing some 20 SME groups and their 7 million members nationwide, the SMEs federation bought 400 units of Masta Him, the automaker’s small

The trend of Korean households being less willing to take out loans due to burdensome high lending rates continued in March, according to industry sources. In March, the remaining balance of household loans at the five major banks -- KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup -- decreased by 4.68 trillion won ($3.55 million) compared to the previous month, to 680.7 trillion won. This downward trend has been persistent for 15 consecutive months since January last year. The reduction in the

Top conglomerate leaders have traveled over 2.5 million kilometers, equivalent to the distance of 64 1/2 rounds around the Earth, to lead diplomatic efforts in support of Busan’s bid to host the World Expo 2030. Since June last year, the World Expo Bidding Committee, a business-led civilian organization made of 11 companies including SK, Samsung and Hyundai, have visited 84 countries for negotiations related to the final vote regarding the host city of the global fair, according to the Kor

In surprise meeting with Hyundai Motor chief, KG chairman hints at tapping into niche markets

KakaoTalk, South Korea’s ubiquitous mobile messenger app, has finally let users decline unwanted group chat invites from people outside of their friend list, a much-anticipated move for those who have experienced stress or discomfort over exiting group chats. However, if the inviter is on a user's KakaoTalk friends list, the user will be automatically added into the group chat. The new feature, which was added as part of a KakaoTalk system update last week to version 10.1.5, requires