1 in 5 convenience stores now closed after midnight

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Wednesday it has secured a 725 billion-won ($630 million) order to build a fixed offshore facility from Qatar's oil and natural gas company North Oil Co. The fixed platform, a type of offshore platform used for the production of oil and gas, will be used to increase the production of oil in the Middle Eastern country's largest oil field, Al-Shaheen, Daewoo Shipbuilding said in an emailed statement. The shipbuilder plans to deliver th

Construction project management firm HanmiGlobal will work with Hewlett Packard Enterprise, a cloud service provider, to promote South Korea as the next data center hub of Asia, the two firms announced Wednesday. The two companies signed a memorandum of understanding on the marketing and management of data center construction projects, as political uncertainties in Hong Kong are prompting foreign companies to consider relocating their data centers in Asia. Under the agreement, HanmiGlobal w

South Korean mobile carrier SK Telecom on Wednesday launched a new metaverse platform dubbed “Ifland,” kick-starting its 5G virtual service business. The name signifies a virtual world where users can be anyone they wish, meet anyone they want to and make so many possibilities real. The platform is launched for Android devices first and will later be open to iOS and other virtual reality devices. With a goal of growing Ifland into a leading metaverse platform by drawing mille

Unionized workers at Hyundai Heavy Industries Co., South Korea's top shipbuilder, stopped their weeklong walkout after a tentative deal was struck, the union said Wednesday. The workers started their strike on July 6, occupying a shipbuilding crane in Ulsan, 414 kilometers southeast of Seoul, to press the management to offer tangible proposals after the wage deal fell through. The tentative deal includes a basic pay raise of 41,000 won ($35.6) for 2020, reversing a wage freeze that was include

LG Chem Ltd., South Korea's leading chemical firm, said Wednesday it will invest 10 trillion won ($8.7 billion) by 2025 to expand its battery material, renewable and bio businesses. The chemical unit under LG Group said it will speed up its transition to an eco-friendly business portfolio by expanding partnership with major industry players through mergers and acquisitions, joint ventures and strategic investments, saying over 30 projects are currently under review. The parent of battery maker

Hyundai Motor Co. on Wednesday launched the Avante N high-performance model as it strives to strengthen its high-end product lineup. The Avante N is the first sedan of the carmaker's high-performance N brand. The sporty sedan comes with a 2.0-liter turbo flat power engine that can reach 100 kilometers in 5.3 seconds and an eight-speed wet double-clutch transmission (DCT), the company said in a statement. It is also equipped with side skirts, which minimize the amount of air that goes under th

SK Telecom Co., South Korea's largest wireless carrier, said Wednesday it has launched a new metaverse platform in a move to capture growing demand for the technology as more users shift their daily activities to digital spaces amid the pandemic. The metaverse refers to a shared virtual space where users interact with each other through digital avatars. The technology has gained popularity over the past year as the pandemic limits in-person contact. SK Telecom said the mobile app-based platfor

South Korea had the second-largest monthly capacity of 200-millimeter-equivalent wafers last year behind Taiwan, a report showed Wednesday. The country, home to major chipmakers like Samsung Electronics Co. and SK hynix Inc., had a capacity of 4.25 million wafers per month, accounting for 20.4 percent of global wafer capacity as of December 2020, according to market researcher IC Insights. Taiwan was the capacity leader at 200mm or 8-inch wafers, taking 21.4 percent of the global capacity. The

Results of the final, phase 3 clinical trial of Regkirona, an antibody COVID-19 treatment developed by South Korean firm Celltrion, were presented at a conference in Europe, the company said Tuesday. According to the presentation made by Oana Sandulescu, an associate professor at Carol Davila University of Medicine and Pharmacy, at the 31st European Congress of Clinical Microbiology and Infectious Diseases, Regkirona, or CT-P59, has significantly reduced the rate of progression for severe sym

Hyundai Motor Co., South Korea's biggest carmaker by sales, said Tuesday it will resume operations of its plant in Brazil this week following a 10-day suspension amid a global chip shortage. Early this month, Hyundai said it will halt the Piracicaba, Sao Paulo plant from July 5-14 due to lack of semiconductor parts.     "The plant will partially resume production on July 15 with one shift despite the parts shortage (after reducing output by one-third late last month).

Contribution to society and members become root of a wide range of business ideas

Interpark seeks new owner, following footsteps of eBay Korea

From next morning delivery of grocerys to a tech-powered shipping platform for small merchants, e-commerce expansion spurs innovation in parcel delivery

Samsung Electronics on Tuesday announced the launch of a new image sensor for automobiles, taking aim at a market segment controlled by Japanese rival Sony. The new Isocell Auto 4AC will be supplied to a global car brand this year, it said. “Starting with the Isocell Auto 4AC, we plan to expand our automotive sensor lineup to areas such as camera monitor systems, autonomous driving and in-cabin monitoring,” said Chang Duck-hyun, the executive vice president of Samsung’s s