South Korean food giant CJ CheilJedang will boost its overseas and domestic sales of plant-based meat products to 200 billion won ($151.9 million) by 2025, the company said on Monday. “The US and European countries including the UK and Germany, and Japan, which show increasing demand for Korean food and culture, will be our key target markets. We also plan to make forays into China, Singapore and other southeast Asian countries, expanding global business to account for 70 percent of tota

China makes up almost 40 percent of Korea’s chip exports

Workers at Korea’s space agency, real heroes behind historic launch, deserve genuine recognition, promises for better environment

South Korea’s largest and second-largest carmakers Hyundai Motor and Kia are expected to deliver earnings surprises with record-high profits in the second quarter on improved product mixes and a weakening Korean won. According to the securities industry Monday, Hyundai Motor is expected to record 2.3 trillion won ($1.7 billion) in operating profit in the April-June period, surpassing 2 trillion won mark for the first time in eight years. In the 2014 Q2, Hyundai Motor recorded 2.87 trilli

Hyundai Motor is expected to renew energy efficiency competition among electric vehicles, with its upcoming Ioniq 6 boasting the world’s best energy efficiency. The Ioniq 6, Hyundai’s second all-electric vehicle that made its global debut at the Busan Motor Show on Thursday, has an energy efficiency of 6 kilometers per kilowatt-hour, the highest rate among EVs around the world. The carmaker pointed to its EV-dedicated platform E-GMP with optimal heat, battery and power control sy

BUSAN – SK Telecom, the nation’s leading telecom carrier, said Friday it aims to debut air taxi service by 2025, calling UAM or urban air mobility a “game changer” for future mobility innovations. “Our rivals also plan to launch air taxi services in the coming years, but we are confident that we will be the first to bring UAM aircrafts to the market,” said SK Telecom’s Chief Development Officer Ha Min-yong during a press conference held at the 2022 Bus

Coway, one of the nation’s leading water purifier makers, said Friday it has won an appeal against a 2015 patent infringement ruling, which ordered the company to pay its smaller rival Chungho 10 billion won ($7.53 million) in compensation. Chungho had filed a lawsuit against Coway for infringing its patented ice water purifying technology back in 2014. A year later, the Seoul High Court ruled in favor of Chungho’s claim. Coway immediately appealed. On Thursday, the court overtur

Korean biotech plans to begin phase 3 clinical trials in Japan in H2

KCCI’s survey shows companies afraid of deal breakers due to on-site ESG inspections

Samsung Electronics’ contract-based chip manufacturing operations have surpassed Taiwan-based foundry rival TSMC in terms of smartphone chipset shipments on advanced nodes in the first quarter, data showed Sunday. Samsung captured some 60 percent of market share in the leading nodes of 5-nanometer or more sophisticated manufacturing process for chipsets going to smartphones from application processors to system-on-chips in the first quarter, according to data by market intelligence Count

Hankook Tire & Technology, the world’s sixth-largest tire-maker, said Friday that it has started supplying its tires for high-performance sedans and sports cars of the so-called “German Big 3”: Mercedes-Benz, BMW and Audi. The tire-maker will supply its Ventus S1 evo Z tires to BMW’s X3 M and X4 M models, while also supplying its Ventus S1 evo 3 and Winter i cept evo 2 tires to Audi’s RS lineup. Multiple SUVs of the Mercedes-Benz AMG lineup, including GLC an

Samsung Electronics Co. said Sunday its accumulated wind-free air conditioner sales have exceeded 7 million units in the domestic market since its launch six years ago. Samsung launched the "no-wind" air conditioner for the first time in the world in 2016 and has expanded its lineup of the product both for commercial and household use, the company said in a statement. The company has been fully operating its domestic production facilities since February to meet soaring demand during th

Gimpo Airport was busy with passengers on Friday morning as the number of COVID-19 cases continued to rise in South Korea. The photo shows travelers waiting in line to get on board their train. Earlier this month, data from the transport ministry showed that the number of domestic and international flights reached 4.6 million, up 4.6 percent from the previous month. The country saw 41,310 new COVID-19 infections on Saturday, including 287 from overseas, according to the Korea Disease Control

Travelers with little time to wait in long queues at airport cafes can now pick up a cup of coffee and a sandwich from delivery service robots at Korea‘s largest airport. Local food delivery app Baemin said Friday it launched a robot delivery service for airport cafes and bakeries located in Incheon International Airport’s Terminal 1. Air-dilly, a service robot made by LG Electronics, will deliver food and beverages from Baskin Robins, Paris Baguette and two Dunkin’ location

Retail giants Lotte and Shinsegae are set to enter the whiskey business by constructing distilleries on Jeju Island, home to some of Korea’s best-quality water. Lotte Chilsung Beverage, Lotte Group’s beverage arm, said Friday that it has recently received the green light from Jeju to change a former tangerine farm into whisky distillery. “After getting advice from experts, we picked Jeju Island because its natural environment, clean water and temperature are optimal con