Hanwha Industrial Solutions officially launched Monday with a founding meeting at The Plaza Hotel in Seoul. The new company, established as a subsidiary of Hanwha Vision and Hanwha Precision Machinery, represents Hanwha Aerospace’s move to consolidate and lead Hanwha Group’s industrial solutions business. During the inaugural meeting, key agenda items included the formal establishment of the company, the appointment of leadership and the enactment of company bylaws. Ahn Soon-Hong,

Blockchain network Kaia, formed through the merger of platforms launched by Korean tech giants Line and Kakao, announced Monday it hopes to serve as a gateway between Web2 and Web3 in Asia and beyond. The merger between Kakao's blockchain platform Klaytn Foundation, and Finschia Foundation under Naver's affiliate Line Tech Plus was completed under the name “Kaia” on Thursday. The two platforms' respective tokens will be integrated under the name "Kaia," which

Facing its worst earnings crisis in its 56-year history, Intel is reportedly reconsidering its lackluster foundry business, where it has set the goal of beating Samsung Electronics to become the industry's No. 2 by 2030. For Samsung, which is seeking to carve out its share in the foundry market dominated by Taiwan-based TSMC, Intel's exit could be beneficial, removing a potential threat, according to experts here. On Sunday, Bloomberg reported that Intel, the world's leading chipm

Sharpening diplomatic skills is becoming an inevitable mission for Corporate Korea to give new traction to its export-oriented growth amid rising economic fragmentation. The unparalleled technology and unique cultural content that made-in-Korea products hold have led the country to be a trendsetter for Asia and beyond. This year, Korean companies faced new challenges and opportunities induced by major elections taking place around the world, coupled with growing protectionism and trade tension

Korean firms flock to India to diversify supply chains, de-risk from China

HD Hyundai officially launched the HeeMang Foundation on Monday, an initiative dedicated to supporting the families of workers who lost their lives in major shipyard accidents. The foundation, whose name means "hope" in Korean, will provide scholarships and financial assistance to bereaved family members, fulfilling a proposal made by HD Hyundai Chairman Kwon Oh-gap (first from left) earlier this February. Former Minister of Employment and Labor Lee Ki-kwon (fourth from left), appointe

Energy and environmental solutions provider SK Ecoplant announced Monday that it has officially incorporated energy supplier SK Materials Airplus as its subsidiary. During a special shareholders' meeting held at its headquarters in central Seoul, SK Ecoplant approved a comprehensive stock exchange agenda for SK Materials Airplus, which involves issuing new shares in exchange for the entire stake in SK Materials Airplus currently held by SK. SK Materials Airplus' long-term business mo

Posco Group Chairman Chang In-hwa, who also serves as the head of the Korea-Australia Business Council, emphasized the need to strengthen economic relations between South Korea and Australia, particularly in the areas of natural resources, eco-friendly materials and infrastructure. “South Korea and Australia have been collaborating to pioneer future green development, which includes advancing eco-friendly materials and infrastructure beyond traditional resource cooperation in minerals and

Kia inaugurated the Kia E-Ground in Quito, Ecuador, on Monday to boost its position as a leading electric vehicle brand in Latin America. The 1,420-square-meter center features three thematic zones -- Planet, Energy and Mobility -- where visitors can explore Kia’s sustainability initiatives, cutting-edge EV technology and future mobility solutions. Highlights include an ocean cleanup virtual reality game, an EV driving simulator and displays of Kia's E-GMP platform. As Ecuador ranks

American pickup blends comfortable city driving and off-road capabilities

From rare minerals and smart city projects to cultural collaborations, South Korea and Mongolia have ample avenues to build mutually beneficial partnerships, leaders of the two countries stressed at a recent forum in Ulaanbaatar. At the Korea-Mongolia Vision Forum, held at the Novotel in the Mongolian capital on Aug. 27, 26 speakers from politics, business, civil society and academia engaged with an audience of about 250, exploring ways to enhance bilateral cooperation and promote private-sector

EV shoppers in Korea are starting to take note of battery brands, China bias persists

Daewoo Engineering & Construction Chairman Jung Won-ju, who doubles as chairman of Herald Corp., expressed his hopes for the South Korean government to join in strengthening cooperation with Mongolia. “In Daewoo’s latest success in a bid for a nuclear power plant in the Czech Republic, the South Korean President and the Trade Minster were actively engaged on multiple occasions,” said Jung during a special networking event held in Ulaanbaatar, Mongolia, on Aug. 26. "I w

LG Electronics said Sunday it has established a consortium in China to accelerate the development of the core technologies for next-generation heat pumps, adding to its research hubs in North America and Europe. Under the collaboration agreement, LG will be working with leading heating, ventilation and air conditioning (HVAC) researchers from Harbin Institute of Technology, Shanghai Jiao Tong University and Xian Jiaotong University, the company said. The company has been expanding its research a

SK Speedmate, an automotive maintenance company, announced Sunday its official launch after spinning off from SK Networks to become a top automotive aftermarket service provider in Korea. SK Networks decided to spin off the Speedmate division as part of its push to transition to an AI-centric company. The automotive maintenance business has been rebranded as SK Speedmate, and is now a full-owned subsidiary under the rental firm. SK owns 43.9 percent of SK Networks. “Utilizing our strong br