Hyundai Oilbank said Monday it will establish a blue hydrogen ecosystem with an annual production capacity of 100,000 metric tons by 2025 and convert carbon generated from the production process into commercial products such as dry ice. According to the South Korean energy company, the ecosystem will extract hydrogen from natural gas and refinery by-products and remove carbon to make the hydrogen “blue.” The hydrogen will be then transported, delivered and supplied to customers to

Samsung Heavy Industries Co. said Monday that it has signed a 417 billion won ($374 million) deal to build two liquefied natural gas (LNG) carriers. Under the deal with an Oceanian company, Samsung Heavy will deliver the vessels by July 2024, the company said in a regulatory filing. The vessels will be equipped with devices to boost fuel efficiency, the shipbuilder said. With the latest deal, Samsung Heavy has bagged orders worth $5.4 billion for 44 ships so far this year, achieving 59 perc

Hyundai Motor Group's eco-friendly vehicle exports jumped 46.6 percent in the first four months of this year compared with a year earlier, led by robust demand for its electric vehicle (EVs) and hybrid models, industry data showed Monday. The combined exports of eco-friendly models by the Korean automotive group's two affiliates -- Hyundai Motor Co. and Kia Corp. -- stood at 118,321 units in the January-April period, up from 80,689 units a year ago, according to the data by the Korean Automobi

LG Electronics Inc. said Monday its new gaming monitor will be available in South Korea this week as the tech giant aims to expand its sales amid the pandemic-driven stay-at-home trend. LG's latest 32-inch UltraGear monitor, 32GP850, will hit local shelves Tuesday with a price tag of 799,000 won (US$720). The addition of the 32GP850 expands LG's gaming monitor portfolio to 19 models, with their display sizes ranging from 24 inches to 38 inches. The new monitor comes with Nano IPS display s

Samsung Electronics Co. expanded its presence in the Europe, Middle East and Africa (EMEA) smartphone market in the first quarter of the year, a report showed Monday The South Korean tech giant shipped 30.6 million smartphones in the EMEA market in the January-March period for a 32.8 percent market share, according to the latest report from industry researcher International Data Corp. (IDC). The figures were up from a year earlier when the company shipped 22.7 million smartphones for a 29.5 p

　South Korea’s homegrown craft beer has gained popularity in recent years, industry data showed, as local brewers offer a wider range of flavors at competitive prices. 　The local craft beer market was valued at 118 billion won ($105.6 million) as of 2020, sharply up from 43.3 billion won in 2017, according to data from the Korea Craft Brewers’ Association. 　Local craft brewers have expanded their presence in the market as craft beers have become more widely available at conv

German automaker opens ‘goTOzero’ exhibition in Seoul to raise awareness of need to reduce carbon footprint

Kumho Tire is looking to bolster its share of the local tire market with its latest all-season model SOLUS TA51, launched in April. SOLUS TA51 is the tire maker’s first new product in three years, and comes in 34 different sizes, ranging from 16 inches to 19 inches. The tire product will be compatible with most car models in the local market, the company explained. It is a Korean market-only model. It is specially designed to be suitable for use in different weather conditions across

Hyundai Engineering & Construction will begin presales of flats for a new high-rise apartment complex in Iksan, North Jeolla Province this month, the company said Sunday. The apartment complex, dubbed Hillstate Iksan, will comprise six buildings with 454 housing units, which measure from 59 to 126 square meters. The complex is at a prime location right next to Seonhwa-ro which cuts through the center of the city, the builder said. On top of that, it is also close to Iksan Station that i

Celltrion Healthcare, which is in charge of Celltrion‘s overseas business, is expected to launch sales of its adalimumab biosimilar Yuflyma in the European market in June, according to industry sources, Sunday. It will initially be launched in around six European countries, including Spain, the officials said. A Celltrion Healthcare’s official said the company would try to release Yuflyma in Spain by next month, but the schedule can be adjusted. Yuflyma is the world’s firs

Telecommunications provider SK Broadband has been making a host of new changes as part of its effort to speed up the environmental, social and corporate governance, or ESG, management, with a particular focus on reducing carbon emissions. SK Broadband has been replacing old infrastructure, developing energy efficient products, and reducing energy consumption at network stations to match its carbon-emission-free goal. According to company officials Sunday, the telecommunications company has to

The Korea Herald is publishing a series of interviews with the lineup of speakers who will discuss solutions to the climate crisis at the H.eco Forum, which is scheduled to be held virtually on June 10 under the theme “We Face the Climate Clock.” – Ed. It was only last December when a South Korean company joined the global RE100 campaign -- a pledge to use 100 percent renewable power. The list is growing, but probably not fast enough for the country’s export-driven econ

With 20% switched over to the fastest available mobile networks, consumer complaints grow over ‘disappointing’ speed

LG Electronics said Sunday it will conduct a beta test of a robot lawn mower to develop a model optimized for Korean customers. This is the first time the company will conduct a demo test and develop a product together with customers. According to LG Electronics, it will receive 50 volunteers by June 11 and let them use the robot lawn mowers for two months. Based on their feedback, LG Electronics will develop a model customized to Korea’s residential environment. “Participants

The gap between the world’s top two chip companies -- TSMC of Taiwan and Samsung Electronics of South Korea -- has widened over the past 12 months in terms of market cap, according to a Seoul-based corporate tracker. CEO Score said on Sunday that the market capitalization of TSMC and Samsung Electronics had a difference of about $10 billion a year ago, but the gap has widened to $117 billion. As of May 27, the value of TSMC was $543.3 billion, a 96.3 percent surge from $276.8 billion