Greenwashing allegation over exhaust emission manipulation in Germany may hit hard on Hyundai’s eco-friendly image

Buyer of the debt-ridden SUV maker says no restructuring planned ahead

‘Metaverse office will become the new normal faster than co-working offices were accepted by companies’

Samsung Electronics Vice Chairman Lee Jae-yong held meetings with Japanese business leaders who were staying in Seoul this week to attend the annual gathering of the Korea-Japan Business Council, according to the tech giant on Tuesday. Lee, the de facto leader of Samsung, on Monday had dinner with Masakazu Tokura, chairman of Sumitomo Chemical who doubles as chairman of Keidanren, or the Japan Business Federation. He also held a luncheon meeting on Tuesday with Toshiaki Higashihara, chairman o

LG Electronics said Tuesday its automotive parts business has secured new orders worth 8 trillion won ($6.16 billion) in the first half of this year, with the total cumulative orders set to exceed 65 trillion won by the end of this year. The company said its Vehicle Component Solution unit has recently signed a series of new deals with global carmakers to supply its in-vehicle infotainment systems and 5G telematics solutions. The Korean tech giant is looking to beef up its competitiveness in

LG Innotek said on Tuesday its membership in RE100 has been approved. RE100 is an international campaign launched by nonprofit organization the Climate Group in partnership with Carbon Disclosure Project in 2014. The campaign aims for member businesses that consume more than 100 gigawatt-hours a year to switch to 100 percent renewable electricity sources like wind and solar power by 2050. Some 370 global companies including Google, Apple and Microsoft are members of RE100. LG Innotek plans t

Oriental Brewery, South Korea’s largest beer maker, said Tuesday that it has launched a campaign to stop drunk driving. As part of the campaign, the brewery said it has equipped 20 of its distribution trucks with sensor maker Sentech Korea’s ignition interlock devices. The ignition interlock device uses a breathalyzer to measure the driver’s blood alcohol levels. The device inhibits cars from starting if alcohol levels are above threshold, preventing drunk driving. Current

The personal fortune of Samsung Electronics Vice Chairman and de facto leader Lee Jae-yong has decreased by over 2 trillion won ($1.54 billion) during the first half of 2022 as shares of key Samsung affiliates tumbled due to bearish stock market in Korea, data showed Tuesday. As a result, the total worth of Lee’s combined stake in Samsung affiliates fell to 12.03 trillion won as of end-June, from 14.19 trillion won in January, according to data by market intelligence Korea CXO Institute.

Samsung Electronics Co. is expected to report a more than 15 percent rise in operating profit for the second quarter, helped by strong semiconductor business despite slowing demand for smartphones and home appliances, a survey showed Tuesday. The world's largest memory chip maker is forecast to log 14.5 trillion won ($11.1 billion) in operating profit in the April-June period, up 15.6 percent from a year ago, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News

South Korea on Tuesday started transporting the country's first lunar orbiter to the United States ahead of next month's launch using a SpaceX rocket, officials said. South Korea plans to launch the Korea Pathfinder Lunar Orbiter, also known as Danuri, aboard the SpaceX Falcon 9 rocket from Cape Canaveral Space Force Station in Florida at 8:24 a.m. on Aug. 3 (Korean Time). According to the Ministry of Science and ICT, Danuri was sent from the Korea Aerospace Research Institute in Daeje

Hangover drinks are a multi-billion won industry, despite lacking medical backing

Heydays of ‘Samsung man’ are gone as S. Korea‘s richest conglomerate attempts to ditch militant corporate culture to secure talent

Early sizzling temperatures that hit the country last month led to record-breaking electricity demand for the month of June, data showed Monday. According to Korea Power Exchange, the country’s average maximum power demand stood at 71,805 megawatts last month, up 4.3 percent on-year -- the highest since records began in June 2005. It is also the first year that the average maximum power demand surpassed 70,000 megawatts. The sudden surge of power consumption resulted from many household

A worker moves a large block of ice at an ice making company in Bucheon, Gyeonggi Province. There is growing demand for ice as the nation suffers from a heat wave that came early this year.

Korean companies rush to develop diagnostic kits for monkeypox