Coupang, South Korea’s e-commerce giant, is offering discounts of up to 40 percent on overseas direct purchases and Coupang direct import items for three days through through Wednesday, as part of its “Global Shopping Day.” Items are organized by theme for the three-day event to help customers shop with more ease and convenience. Under the theme “Get ready for summer now,” customers can shop for home gym equipment and dietary supplements such as protein supplem

South Korean agriculture technology company N.Thing said Monday that it has recently inked a $3 million deal with Sarya Holdings in the United Arab Emirates to export smart farms. The contract, set to proceed next month, will allow the firm to construct vertical smart farming containers in the UAE by December this year. The container can reduce the use of water up to 98 percent compared to a typical farm and cultivate crops in any environment, whether that is in Siberia, the Middle East, or

The race to outpace competitors with massive capacity expansions is intensifying among global chip manufacturers and the time for Samsung Electronics to announce its own investment plans is approaching. While South Korea is pinning its hopes on Samsung, the world’s No. 1 memory player, to announce massive investments as early as this week, the market is paying close attention to the size of its spending commitment and whether it will be enough for the Korean chipmaker to maintain its p

From green hydrogen to virtual power plant, Hanwha at the center of Korea’s green transition

South Korea’s state-run Electronics and Telecommunications Research Institute said Monday it has developed hybrid electrolytes for lithium-ion batteries that are free from explosions. Lithium-ion batteries are charged and discharged when lithium ions go back and forth between the positive side and the negative side. Lithium-ion batteries are filled with liquid called electrolytes, which help the ions travel. As liquid electrolytes are flammable, efforts have been made to develop solid

Space Hub, an aerospace task force of Hanwha Group, will form a joint space research center with the Korea Advanced Institute of Science and Technology to launch an intersatellite-link project. Hanwha and KAIST will invest 10 billion won ($8.8 million) into the space research center, the largest one formed by a private company and a university, officials said Monday. The first project will involve the development of intersatellite-link technology, which enables data transmission by shooting las

SK Chemicals said Monday that it acquired a 10 percent stake in Shuye, a Chinese firm that specializes in recycling plastic waste, to commercialize eco-friendly plastic called glycolmodified polyethylene terephthalate, or PETG. PETG is a plastic free of environmental hormone bisphenol A, an industrial chemical used to manufacture typical plastic. PETG offers the same transparency as glass but offers greater durability. PETG made by SK Chemicals is currently supplied to global cosmetics brand

South Korean fashion brand Junn.J has revealed the uniform for staff at entertainment giant Hybe’s new museum. The ensemble consisting of a white T-shirt and a black wide sleeve top and a pair of black cargo jogger pants will be worn by staff at Hybe Insight, which opened last week on the two basement floors of Hybe’s new headquarters in Yongsan, central Seoul. The design took on board Hybe Insight’s image, a venue where music can be experienced in various ways and Junn. J&rs

Korea Airports Corp. said on Monday that it is on course to lead a project worth 100 billion won ($88.2 million) to expand Luang Prabang International Airport in Laos. Once the ongoing deal is finalized, the move will see the public enterprise behind Gimpo and Jeju International Airports become a first in the country to pursue such a project in the Southeast Asian country. “Amid the prolonged coronavirus crisis and hardships surrounding it, we are honored to announce our foray into succe

South Korean airlines will raise fuel surcharges on international routes next month amid rising jet fuel prices, industry sources said Monday. Starting June 1, the surcharge for one-way tickets on international routes will range from 3,600 won ($3.20) to 20,400 won depending on the routes, according to the sources. The amount is up one level from the band of 1,200 won to 9,600 won for this month. Rising jet fuel prices prompted local air carriers to begin imposing fuel surcharges in April af

Samsung Electronics Co. may unveil its plan later this month to build a new chip factory in the United States, industry sources said Monday, as the South Korean tech giant tries to cope with rivals' capacity expansions. Speculation has run high that Samsung would reveal its US investment upon the summit between South Korean President Moon Jae-in and US President Joe Biden to be held in Washington on Friday (local time). Samsung, the world's largest memory chip producer and No. 2 foundry firm,

SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Monday its first-quarter net losses narrowed from a year earlier on a base effect. Net losses narrowed to 86.29 billion won ($76 million) in the January-March quarter from 193.54 billion won in the same period of last year, the company said in a statement. "In the first quarter of 2020, losses involving tangible assets were reflected, but there was no such one-off factor in the past quarter,&

The number of South Korean firms with sales of 1 trillion won ($882 million) or more edged down in 2020 from a year earlier amid the coronavirus pandemic, a corporate tracker said Monday. A total of 204 local companies posted sales of 1 trillion won or more last year, down five from the previous year, according to the CXO Institute. It represents the first drop in the number in five years. The figure rose from 184 in 2016 to 187 in 2017, 199 in 2018 and 209 in 2019. Namyang Dairy Products Co.

Samsung Display Co. and LG Display Co., the country's two largest display makers, on Monday said they will unveil their latest innovations at the world's leading exhibition for display panels to be held virtually this week. The two companies will take part in the Display Week 2021, organized by Society for Information Display (SID), which runs through Friday online. Samsung Display, the world's top mobile display panel maker, said its exhibitions will include a 7.2-inch display with a multi-

Financially troubled budget carrier Eastar Jet said Monday it has begun an open auction to find an investor after selecting a preliminary preferred investor last week. In the open bid, Eastar Jet plans to receive letters of intent from interested companies by June 14 and select a final investor afterward, Eastar Chief Executive Kim You-sang said over the phone. On Friday, Eastar signed a contract with an unidentified local investor and obtained approval for the preliminary deal from the Seoul