Hyundai Engineering said on Thursday it has launched a new project to build e-learning infrastructure in the city of Balikpapan in Indonesia. The three-year Hello E-Dream Project will see the company team up with the Indonesian government and non-government organization Good Neighbors to improve the educational environment in the city. Marking the 11th project from Hyundai Engineering’s series of social contribution activities known as New Hope School, the latest move will focus on build

Jeju Air Co., South Korea's biggest budget carrier, said Thursday it will raise 127 billion won ($107 million) by selling stocks in preparation for the post-coronavirus era.  Jeju Air plans to issue 11.26 million shares at 18,350 won per share to employees and existing shareholders from Oct. 18-19 and list the stocks on the main Korea Exchange (KRX) on Nov. 19, the company said in a regulatory filing. "The planned rights issue is to secure operating capital as the country aims to g

Danggeun Market's trailblazing success sending shockwaves throughout Korea's mobile e-commerce market, sparking a boom of community-based trade of used items

Samsung Electronics may debut Galaxy smartphones with the “Bespoke” concept, which would allow users to customize device designs to suit their personal tastes. “Our users are multifaceted and live life in so many colorful, interesting, and unique ways,” the South Korean tech giant said in an invitation sent out to global customers and media for an additional event for the Galaxy family on Oct. 20. “As such, the technology they use every day should reflect thei

EuBiologics has asked for the Ministry of Food and Drug Safety’s approval on its plan to conduct a phase 3 clinical trial of its self-developed COVID-19 vaccine candidate, becoming the second South Korean company to reach that stage in the race to develop homegrown vaccines. According to the company’s regulatory filing on Wednesday, the clinical study of its vaccine candidate EuCorVac-19 will involve 4,000 participants. The safety and efficacy of the vaccine will be evaluated throu

At Net Zero Expo, Hanwha, Doosan, Posco, SK show how to make carbon neutrality a reality

Foreign-invested firms say technical regulations along with fair trade and labor laws are some of the biggest management challenges, the Korea Chamber of Commerce and Industry said on Wednesday. Nearly 1 in 2 foreign-invested firms based in South Korea said technical regulations such as certification, tests and inspection were the biggest challenge facing their business, according to a survey conducted by the KCCI with 252 foreign-invested companies. Technical regulations refer to administrati

Franchise stores grew in numbers during the coronavirus pandemic last year though sales remained nearly unchanged, a new report from corporate tracker CEO Score showed Wednesday. The number of franchise brand stores in 2020 increased by 4,559, up 4.5 percent compared to 2019, according to the report which drew data from the Fair Trade Commission. With a total of 105,837 stores operated by top franchise brands last year, the figure was a 11.1 percent jump compared to 2018 when the number stood

Private and public stakeholders in the development of self-driving cars have established the Korea Autonomous Industry Association on Wednesday in order to better prepare for the coming new mobility era. Some 30 government officials and company executives attended the launching ceremony held in Yeouido, Seoul, including Park Jin-kyu, the vice minister for industry, and Hwang Seong-kyu, the vice minister for transport. Aside from private firms, two state-run organizations -- the Korea Automot

SK Inc., the holdings firm of SK Group, said Wednesday it will form a joint venture in South Korea with Monolith, the world’s first company to have successfully mass-produced “turquoise hydrogen.” According to the strategic investment arm of the country’s third-largest conglomerate, the joint venture will produce hydrogen and carbon black products. The US hydrogen maker will provide necessary technology while SK Inc. will be in charge of production, sales and distributi

Posco, the world's fifth-largest steelmaker by output, said Wednesday its third-quarter operating income more than quadrupled to a record high on robust demand amid the global economic recovery from the COVID-19 pandemic. Operating income for the three months that ended in September reached 3.11 trillion won ($2.6 billion) on a consolidated basis, sharply up from an operating profit of 670 billion won, the company said in a regulatory filing. The third-quarter operating income marks the highes

South Korea's cartoon exports jumped more than 40 percent in 2020 from a year earlier amid the growing global popularity of Korean pop culture, a report said Wednesday. Outbound shipments of cartoons, including webtoons, stood at $64.82 million last year, up 40.9 percent from a year earlier, according to the report from the Korea International Trade Association (KITA). The growth rate far exceeds the 6.2 percent on-year increase in exports of the country's overall cultural content. In particu

South Korean shipbuilders lagged sharply behind their Chinese rivals in terms of new orders in September, losing the top position that they had maintained for the last four months. Local shipbuilders led by Hyundai Heavy Industries Co. grabbed a combined 910,000 compensated gross tons (CGTs) in new orders last month, accounting for 28 percent of 3.28 million CGTs of global orders, according to data provided by global market researcher Clarkson Research Service. Chinese shipbuilders far outpace

LG Electronics Inc. and LG Energy Solution said Wednesday that they will repay General Motors Co. about 1.4 trillion won ($1.2 billion) in costs for the recalls of Bolt electric vehicles due to battery defects. The two flagship units of South Korea's LG Group have reached an agreement with GM on how to cover the expenses for the recalls on some 143,000 Bolt vehicles over battery fire risks. The two LG units said they will set aside 480 billion won and 620 billion won in costs in the third qu

The industry ministry launched an exhibition on carbon neutrality Wednesday to promote various zero-emission products and technologies, and to explore future policy directions for the goal, officials said. The inaugural Carbon Neutrality Expo began its three-day run at KINTEX convention center in Ilsan, northwest of Seoul, bringing together some 300 local companies, provincial governments and state-run institutions, according to the Ministry of Trade, Industry and Energy. The firms presented