US Department of Energy’s low-rate loan to help construct and expand battery manufacturing facilities in Ohio, Tennessee and Michigan

Although the endemic phase is nearing, Incheon International Airport said Tuesday it will take another three years for South Korea's largest airport to recover the number of international passengers to pre-pandemic levels. “Due to the prolonged COVID-19 shutdowns from China and other countries, we expect the travel demand should rebound by 2025,” said Kim Kyung-wook, CEO of Incheon International Airport. “For next year, we predict international travelers will surge by 59

Samsung has gifted the limited Galaxy Z Flip 4 Maison Margiela edition to Son Heung-min, the captain of the South Korean soccer team, a publicly known iPhone user. Son shared photos of the gifted phone on his Instagram story, last Friday, with a thank you message written over the photo, also tagging the official Samsung handle. The Z Flip 4 gifted to Son is a limited edition made in collaboration with the French designer brand Maison Margiela. This model is priced at 2.25 million won ($1,956), 7

Mixed reactions to President Yoon's close aide taking top spot at major financial group

GI Cell, the cell therapy affiliate of South Korean pharmaceutical company GI Innovation, said Tuesday it has signed a research agreement with Japanese bio company Optieum Biotechnologies to study hematological tumors. Hematological tumors refer to tumors that begin in the cells of the immune system or bone marrow. According to the agreement, the Japanese bio company will provide its South Korean counterpart with single-chain variable fragment (ScFv) antibodies that target hematological tumors.

South Korean food giant Pulmuone’s US affiliate Pulmuone Foods USA said Tuesday it has secured deals with 18 major US university campuses to supply plant-based foods. Pulmuone had forayed into the US market in 2014, working with one of the US’ largest college food service providers UMass Dining to supply plant-based food products such as vegan steaks to universities and restaurant chains. Under its partnership with UMass Dining, the food giant signed a contract to supply its plant-ba

South Korean e-commerce company Interpark Corp. said Tuesday its sales of plane tickets more than tripled in November from a year earlier on the back of pent-up demand for travel. Interpark said sales of plane tickets booked on its website amounted to 121.2 billion won ($92.8 million) in November, up 203 percent on-year. The figure is more than 15 percent higher compared with November 2019, the company added. Interpark attributed such results to seasonal factors and pent-up demand as Japan resum

The amount of time Korean people spent on the country's most popular mobile messenger KakaoTalk was restored to the normal level two months after it suffered extensive service disruptions stemming from a fire at a data center, industry data showed Tuesday. Users spent an average of 32.18 minutes using the KakaoTalk app per day as of Friday last week, compared with 33.3 minutes tallied a year ago, according to the data from Mobile Index. The time dropped to 18.2 minutes on Oct. 15 when a fir

  SEJONG-- South Korea is widely expected to post a record trade deficit this year due to soaring international energy prices amid a slowdown in exports, sources said Tuesday. Asia's fourth-largest economy had a trade deficit of $47.46 billion as of Saturday this year, the largest-ever yearly red ink, according to the Korea Customs Service. The figure is nearly 2.3 times the previous all-time high of $20.62 billion recorded in 1996. It is also well above forecasts made by major economic thi

Hyundai Motor Group said Monday it will supply a total of 1,100 hydrogen fuel-cell systems to Enginius, an eco-friendly car brand under the Germany-based Faun Group, in a three-year deal. It is the first time the South Korean carmaker has agreed to provide a massive amount of electric power systems. Under the deal, Hyundai’s 90-kilowatt hydrogen fuel-cell systems will power Enginius’ two brands -- Bluepower for garbage trucks and Citypower for cargo trucks whose market debuts are set

Apple Pay's long-awaited debut may face further delays

South Korean auto giant seeks to launch top-selling EV Ioniq 5 to Vietnam next year

South Korea may experience trouble in importing raw materials for cold medicines in the near future due to a cold medicine shortage in China, according to industry insiders Tuesday. China, South Korea’s main importer of raw materials for cold medicine, is currently experiencing a dearth of cold medicines with people bulk-buying them following the country's relaxing of quarantine policies. The Ministry of Food and Drug Safety recently cautioned South Korean pharmaceutical companies reg

In terms of sale, Hyundai came in fourth, following Italy’s Fiat, US-based GM and Germany’s Volkswagen.

Hyundai Motor Group Vice President Lim Tae-won (left) shakes hands with Patrick Hermanspann, CEO at FAUN Group, at the German carmaker's headquarters in Osterholz Scharmbeck, on Thursday, after celebrating a new partnership, under which Hyundai supplies 1,100 hydrogen fuel-cell systems for FAUN's eco-friendly garbage cars and cargo trucks.