Hyundai Motor Group is likely to post a better-than-expected fourth quarter result as well as a record-high operating profit of 7 trillion won ($5.9 billion) this year, despite the ongoing chip shortage, market experts said Wednesday.  Market analysts viewed that the Korean automaker’s focus on expanding sales of its ecofriendly models and broadening its product mix to enhance its brand value has helped the company to anticipate a turnaround this year.  Nine local securities f

Samsung Electronics said Wednesday that it was ranked 4th out of the top 150 global tech companies in an index that gauged corporate efforts in using technology ethically and for reducing digital inequality overall. The Korean tech giant’s ranking soared from last year’s 10th position from the World Benchmarking Alliance’s Digital Inclusion Benchmark, topping all of its Asian peers. The WBA is a global alliance of more than 200 global, regional and local organizations that

SK Gas Co., a key energy unit of South Korea's No. 3 conglomerate SK Group, said Wednesday it has invested in a US startup that has the original decarbonizing technology to produce clean hydrogen, as part of efforts to advance its transition to clean energy. SK Gas did not disclose the value of the investment in C-Zero, a California-based tech company, citing the terms of the contract. C-Zero is known for its methane pyrolysis technology that uses high temperatures to break methane in natural

South Korea's antitrust regulator said Wednesday it has decided to impose a combined 20.7 billion won ($17.6 million) in fines on eight makers of aluminum alloy products for colluding to fix bidding prices. Altechno Metal and seven other firms colluded to fix their quotations between 2011 and 2021 for bids on aluminum alloy products by the country's largest carmaker Hyundai Motor Co. and its affiliate Kia Corp., according to the Fair Trade Commission (FTC). Prior to the bidding, the companies

Construction machinery manufacturer Hyundai Doosan Infracore Co. said Wednesday that it has won preorders for 100 excavators from North America. Under the deals with dealers in North America, Hyundai Doosan Infracore will deliver the 10-ton excavators during the third quarter of next year, the company said. The South Korea's top construction equipment maker, however, did not reveal the value of the deals. Hyundai Doosan Infracore released its 10-ton excavators for the first time at a meeting

Cosmetic store workers of Chanel Korea said Tuesday they would walk off from their jobs for an indefinite period from Dec. 17 if the French luxury brand fails to pay overdue wages and take steps to prevent sexual harassment in the workplace.  Union members representing 390 store workers at 85 cosmetics boutiques of Chanel held a press conference Tuesday in front of the firm’s office in Jung-gu, central Seoul.  The members are part of the Korea Confederation of Trade Unions, a

LG Energy Solution said Tuesday it has entered an official stage to go public in January, amid market expectation that the company will join the top five on the list with a valuation of a whopping 70.2 trillion won ($59.5 billion). According to South Korea’s leading battery firm, it submitted a registration statement to the Financial Services Commission to be listed on the nation’s main bourse Kospi. The company seeks to raise up to 12.75 trillion won by offering 42.5 million sh

　Han Sung Motor, the official dealership of Mercedes-Benz Korea, last month held a biennial automotive service skills contest in a bid to foster technical specialists. 　Of some 760 applicants, 56 finalists who passed the preliminary round of the seventh Han Sung Skill Contest took the test based on standards proposed by the German carmaker. 　The top three scorers in seven fields, including system, body, paint and components, were awarded on Nov. 20 at the Seoul campus of the Korea Polytechnic

With Tri-gen fuel cell system, Doosan challenges infrastructure shortage of eco-friendly vehicles

Chip division leaders promoted to top brass, reflecting renewed semiconductor push

South Korea’s Krafton, the company behind megahit video game PlayerUnknown’s Battlegrounds, said Tuesday it would help secure investment of 13 billion won ($11 million) for Tamatem, a leading mobile game publisher in the Middle East and North Africa. The Korean game developer, which has already invested 7 billion won in the Jordan-based publisher, will work with investors like Venture Souq and Endeavor Catalyst to deliver the funding. Tamatem is one of the three major publishers in

Korea’s short history of bio industry calls for more experiences, training and education, Merck official says

Seoul Business Agency organizes consultation meetings for 300 local companies, 500 overseas buyers

The Ministry of Science and ICT on Tuesday unveiled a guideline on a revised law requiring Netflix and other tech giants to improve their online service quality. Last December, South Korea passed a law revision holding online content service providers accountable if they fail to maintain stable services amid growing complaints against streaming giants Netflix and Google after their services experienced a number of outages. The revised law, informally dubbed the "Netflix law" in the c

South Korea will be able to import around 120,000 tons of urea per year from Indonesia over the next three years, a move expected to help prevent a supply crunch of the key industry material here, Seoul's industry ministry said Tuesday. The agreement was made as Seoul's Industry Minister Moon Sung-wook and Indonesia's State-Owned Enterprises Minister Erick Thohir signed a memorandum of understanding (MOU) meant to boost bilateral cooperation in the urea supply earlier in the day. South Korea h