LG Energy Solution said Tuesday that it is on track to complete a pilot line for its advanced dry electrode process at its Ochang Energy Plant by the end of this year, with the goal of scaling to full production by 2028. The dry electrode process is a cutting-edge method of making batteries that could transform the way they’re produced. Traditionally, most batteries are made using a wet process. This involves mixing active materials with organic solvents to create a slurry, which is then c

South Korean cosmetic giant Amorepacific announced Tuesday that its high-end beauty brand Hera has entered the Thai market. Hera opened its first store in Central Chidlom, a stylish 7-story department store in Bangkok, earlier this month. Over 200 guests, including media representatives and influencers, were invited to celebrate the debut at an event that also introduced the brand’s signature makeup and beauty routines. Alongside the store opening, Hera hosted a pop-up event at Central Chi

Daewoo Engineering & Construction and its labor union have joined hands in the effort to create positive, amicable workplace culture for all workers and break through market challenges together. According to the South Korean builder on Tuesday, the management and union reached an agreement earlier this month to reform the company's personnel management systems. The plan includes simplifying the ranking system and upgrading personnel evaluation and wage schemes. They also completed this

Overseas private equity firms are increasingly eyeing to acquire a stake in waste management companies here, in an attempt to expand their footprint in the environmental sector. Swedish investment company EQT announced Friday that it is set to acquire the local plastic recycler KJ Environment and its affiliates through a stock purchase agreement. EQT is a Stockholm-based buyout firm with 246 billion euros ($272 billion) in total assets under management. The deal, reportedly worth around 1 trilli

Facing chronic deficits, subway operators have turned to selling co-naming rights to private entities eager to boost public presence

Dean Park to bolster global B2B conglomerate’s presence in local market

While Samsung Electronics maintained its No. 1 position as a TV-maker in the first half of this year, Chinese rivals seem to be ramping up their game to close the gap. Market tracker Counterpoint Research said Monday that global TV shipments grew in the April-June period for the first time in four quarters, fueled by an Olympics spending spree. It reached 56 million units in the second quarter this year, up 3 percent on-year. Samsung took the largest share of 15 percent of total shipments, but i

SK Group kicked off its annual Icheon forum -- one of the biggest gatherings of its top executives -- in Seoul on Monday to explore strategies for expanding the artificial intelligence ecosystem and reinforcing the value of SK Management Systems, the group’s unique philosophy introduced by former SK Chairman Chey Jong-hyun about half a century ago. About 100 guests and speakers from both Korea and abroad, together with Chairman Chey Tae-won, Executive Vice Chairman Chey Jae-won and SK Supe

Construction of a cathode material plant in Becancour, Quebec -- a joint venture between Korea’s EcoPro BM, SK On, and US automaker Ford -- has been halted for the second time this year, amid growing uncertainty surrounding Ford’s electric vehicle strategy. The plant's construction began in August last year and was initially paused in April this year due to issues with selecting a contractor and finalizing the facility’s design. At the time, Francois Legault, the Premier o

South Korean biopharmaceutical firm Celltrion Pharm unveiled Monday a new vision to become one of South Korea’s top five pharmaceutical companies by 2023. Under Vision 2030, Celltrion Pharm said the company aims to make a quantum leap by enhancing its core business strengths and implementing differentiated growth strategies across its manufacturing, research and sales divisions. Celltrion plans to boost production at its Cheongju plant, which holds Good Manufacturing Practice certification

Daewoong Pharmaceutical, South Korea’s leading drug maker, announced Monday the company officially launched its botulinum toxin, dubbed Nuceiva, in Australia in partnership with a Nasdaq-listed US company Evolus. Oceania is the fifth continent Daewoo Pharmaceutical has entered, after North America, South America, Europe and Asia, with its self-developed botulinum toxin. “Our market penetration into Australia will allow us to build on the momentum of expanding presence in the global m

Employees from Korean Air and Delta Air Lines pose for a photo after a homebuilding project in Cheonan, South Chungcheong Province, Wednesday. In collaboration with Habitat for Humanity Korea, the initiative aims to provide much-needed housing for local families. A team of 33 employees from the two airlines worked together on various construction tasks, including brick-laying, roofing and carpentry. Korean Air’s partnership with Habitat for Humanity Korea dates back to 2001, initially fo

Hyundai Motor Group’s software unit secures W200b orders with Angola, Mozambique

Diesel cars pose highest fire risks, followed by electric vehicles and gasoline vehicles

The average purchase amount per customer at duty-free shops in South Korea has in the first seven months of this year reached the lowest level in five years, largely due to shifting trends among Chinese tourists and losing their appeal to domestic customers, data showed on Sunday. According to data compiled by the Korean Duty-Free Shop Association, total sales of domestic duty-free companies reached 7.39 trillion won ($5.45 billion) in the first half of the year, up 13.6 percent from 6.5 trillio