Hyundai Motor, Kia tense over production delay of newly-launched EV models amid signs of early subsidy exhaustion

South Korean distiller HiteJinro said on Tuesday it has extended an advertising partnership with Major League Baseball team LA Dodgers for another three years. First signed in 2012, the ongoing deal will help promote the company’s products and boosts its global brand awareness among local baseball fans during the Major League Baseball season, the company said. With the deal in effect until 2024, the two will have teamed up for more than a decade following the new signing. The move will

Samsung Display CEO Choi Joo-sun said Tuesday that OLED displays, which use organic light-emitting diodes, will spearhead a digital transformation to what people in the industry call the metaverse era. At Display Week 2021, an annual symposium and trade show organized by the Society for Information Display that runs Monday through Friday in the US, Choi gave a keynote speech on “the metaverse and the great future of displays.” The global display industry faces a turning point, he

S-Oil said Tuesday that it received the world‘s first compliance management system certification from the International Organization for Standardization. The ISO 37301 is an international standard for compliance management officially adopted by the international rule-setting body last month. The new standard combines ISO standards with international agencies’ guidelines, including those from the International Chamber of Commerce, the OECD’s best practice guidelines for ethi

SK hynix is considering a complete takeover of domestic foundry company Key Foundry, of which it holds a 49.8 percent stake in, industry sources said Tuesday. Key Foundry was separated from Magnachip last year, and become an independent 8-inch wafer foundry firm operating in Cheongju, North Chungcheong Province. SK hynix currently controls 49.8 percent of the company via a private equity fund set up by Magnus PEF. The rest – a 50 percent stake plus one share-- is held by the fund&rsquo

Posco International has agreed to supply tools and materials for Korea Midland Power’s overseas renewable energy business under a new partnership agreement, the company said Tuesday. The trade arm of Posco, the country’s leading steelmaker, signed a memorandum of understanding with KOMIPO for the supply agreement, with Posco International President and Chief Executive Officer Joo Si-bo and KOMIPO President Kim Ho-bin in attendance. “We wish for the country to gain a footho

Korean Air posts operating profit but budget airlines hit hard by prolonged pandemic

SK Innovation Co., a South Korean refinery-to-battery maker, has agreed to form a joint venture with Chinese companies to produce cathode, a key material for electric vehicle batteries, in China, industry officials said Tuesday. Chinese battery maker EVE Energy's board of directors has approved the joint venture with SK Innovation and Chinese battery material producer BTR to build a cathode manufacturing factory in China, according to local reports. SK Innovation is expected to invest 25 per

Convenience store chain GS25 is opening three locations in Mongolia, in its second major overseas foray, the company said on Tuesday. According to GS Retail, the firm behind the chain, it has partnered with Shunkhlai Group, one of leading conglomerates in the country, to enter the Mongolian market. A launch event was held in both South Korea and Mongolia, livestreamed online on Tuesday, with company officials as well as dignitaries from both countries in attendance, including the South Kore

Han Sung Motor, the largest Mercedes-Benz dealer here, presented its third signature perfume, Passion Mystique, as part of efforts to better connect with its customers, the company said Monday. To create a new brand experience, Han Sung Motor has sought to link its unique fragrances with the brand’s identity, and launched its first signature perfume Hansung Interior Fragrance in 2015 upon the company’s 30th anniversary. The company released Han Sung No. 2 in the following year. A

LG Group announced Monday that it plans to invest over $100 million over the next three years to develop high-performance computing infrastructure for artificial intelligence development. LG Group’s AI research and development unit LG AI Research will build computing infrastructure with 600 billion machine learning parameters. The new computing system, capable of making 95.7 quadrillion calculations per second, will be introduced during the second half of the year and followed by an AI m

LG Innotek, LG Group’s cutting-edge manufacturer of materials and components, is holding an exhibition to showcase its business history, current market status and product lineups. It will take place online and offline simultaneously. The purpose of the event is to help LG Innotek’s business partners and the public to better understand the company, it said. The online exhibition comprises two separate segments. One is designed especially for the company’s corporate partners,

Samsung Electronics Co. on Tuesday unveiled new power-controlling chips that minimize overall power consumption while boosting performance of dynamic random-access memory (DRAM). The world's largest memory chip producer said its three power management integrated circuit (PMIC) products -- S2FPD01, S2FPD02, and S2FPC01 -- are available for DDR5 DRAM modules. A PMIC is an integrated circuit that receives the main power input and distributes the power to each electronics part with efficiency an

Audio-based social networking service Clubhouse will launch on Google's Android operating system in South Korea this week, its US-based developer Alpha Exploration Co. said Tuesday, in a move to expand its growing user base. While the app had previously been available only on iPhones, the company said it will upload a beta version of the app available for download on Google Play in South Korea on Wednesday. The audio social media app, in which users enter rooms to chat with one another by voic

South Korea's low-cost carriers suffered an extended loss in the first quarter as the coronavirus continued to weigh on travel demand, data showed Tuesday, raising concerns over their ability to stay afloat even after the pandemic. Budget carriers have grounded most of their flights on international routes since early 2020 as many countries placed restrictions amid virus fears, facing cutthroat competition for cheap domestic flights. While the nation's full-service carriers have managed to ma