Samsung C&T said Wednesday it has inked an 800 billion won engineering, procurement and construction contract with QatarEnergy to build solar power plants with the capacity to generate 875 megawatts of electricity. The project involves building one solar power plant with 417 megawatt capacity in Mesaieed and another one in Ras Laffan with 458 megawatt capacity, which will start generating electricity by the end of 2024. Around 1.6 million solar panels will be installed in these power

Hyundai Motor Group Executive Chair Chung Euisun made an emergency trip to the US on Tuesday to seek ways to deal with the latest US tax credit bill that has scrapped subsidies for foreign-made electric vehicles. Amid looming concerns that the bill may jeopardize the carmaker’s EV strategy, Chung left for Washington, D.C., with Hyundai Motor President Gong Young-woon who is in charge of public relations, media outlets reported Wednesday, quoting unnamed sources. They plan to meet high-ra

LG Group said Wednesday it is launching a new artificial intelligence ethics group later this year with an aim to build more responsible AI systems and their deployment across all LG companies. Ahead of its official launch, LG AI Research, the group's AI research hub, recently set up a task force to be charged with educating LG employees to better understand AI ethics and evaluating ethical risks related to privacy, bias and fairness before product development. The upcoming ethics group

LG Uplus Corp., South Korea's third-largest mobile carrier, said Wednesday it has rebranded its K-pop content platform and has newly enabled official foreign language support for foreign users. The company's U+ Idol Live platform has been renamed as Idol Plus and its menu and subtitles now officially support English, Chinese, Japanese, Thai and Indonesian, in addition to Korean. LG Uplus said it has analyzed overseas customer usage during its beta web service period since November in s

SEJONG -- South Korea's antitrust regulator said Wednesday it has approved a deal by chemical-to-steel business group KG Group to buy the debt-ridden SsangYong Motor Co., as the takeover does not hurt market competition. In July, KG asked the Fair Trade Commission (FTC) to review its deal to acquire some 61 percent stake in SsangYong Motor for 950 billion won ($ 708 million). The FTC said it has given the green light to the deal, saying that the acquisition is not likely to hamper competiti

Hyundai Motor Group said Wednesday its Chairman Chung Euisun is visiting the United States amid growing concerns over a new US law excluding electric vehicles (EVs) built outside the US from tax breaks. The South Korean carmaker didn't provide any details about Chung's US schedule. Chung is expected to meet US government officials and business leaders to ask them to "help improve an unreasonable part" of the recently passed Inflation Reduction Act (IRA), auto industry officia

Electronic component manufacturer LG Innotek said Tuesday that its key material for thermoelectric generators, which allow vessels to reuse waste heat and cut carbon emissions, has won a green technology certificate by the government. Powered by the nano-polycrystalline semiconductor material developed by LG Innotek, the thermoelectric system uses the heat flux due to temperature differences within the semiconductor to generate electrical energy, according to the company. Its nano-polycristal

South Korean aircraft engine manufacturer Hanwha Aerospace established a $165 million supply deal with British air taxi developer Vertical Aerospace last month, according to a regulatory filing released on Tuesday. Under the deal, which follows a development agreement announced in July, Hanwha Aerospace is set to exclusively supply three types of electromechanical actuators to Vertical for its VX4 air taxi from 2025 to 2035. The four-seater VX4 is currently under development for commercializat

LS Cable & System will commercialize a remote-control cable management system that detects operational abnormalities, prevents power outages and sends online alerts, said the company on Tuesday. The new system called i-check allows IoT sensors attached to cables to detect malfunctions such as electricity leakages and overheating, to prevent power outages and fires. Users will be able to check the status of the cable in real time on the web and mobile devices, and receive push notificatio

South Korean flat-panel display manufacturer LG Display is set to launch mid-sized organic light emitting diode panels designed for gaming monitors, according to the company Tuesday. “LG Display will release a new flat-panel display using OLED technology by the end of this year, at a size of over 20 inches and no larger than 30 inches,” an LG Display spokesperson told The Korea Herald, adding the company has yet to determine which plant -- among one in Paju, Gyeonggi Province, or o

Its archrival LG retains No. 1 spot in OLED TV market

Latest issues such as the COVID-19 outbreak and the Russia-Ukraine war have prompted active discussions about the introduction of an interlocking system for cost of goods delivered. The small and medium-sized enterprises have long been calling for the introduction of this system, and the legislation of delivery unit price indexation system is one of the agenda items for the Special Committee on People’s Livelihood and Economic Stability, which was launched in July 2022. Alongside this, the

Volkswagen Korea will launch its first pure electric sports utility vehicle next month as the first overseas branch of the German carmaker outside of Europe, its CEO said Tuesday. “ID.4, Volkswagen’s first pure electric SUV, will be launched in Korea and we will be the first country in the world for export market outside of Europe,” said Sacha Askidjian, the executive director of Volkswagen Korea at a launching ceremony for the new Tiguan Allspace, a seven-seater family SUV eq

The Maserati Ghibli GT Hybrid is a car that can satisfy those who love the sound of a combustion engine, but want to make a more fuel-efficient choice. The Ghibli GT Hybrid is the first ever electrified Maserati model, with which the luxury brand makes an attempt to keep up with the trends of the automobile industry. Maserati uses a 2.0-liter, four-cylindrical gas turbo engine boosted by a 48-volt battery and offers a maximum torque of 45.9 kilogram-meters. In a 245-kilometer test drive sessi

Hyundai Motor received 37,446 EV preorders for its Ioniq 6 on the first day of presales, the highest day one preorder sales figure in the company‘s history. The carmaker said the number is far higher than Ioniq 5’s first-day preorders number of 23,760 units set last year. “Ioniq 6’s innovative interior and exterior design, along with the industry’s top-level traveling distance and driving performance incorporated with latest technology appear to have attracted po