Korea Gas Corp. said Thursday it has successfully carried out the world’s first ship-to-ship liquefied natural gas bunkering test, which examines whether an LNG carrier works properly before it begins commercial operation. LNG bunkering is the process of transferring gas to a ship. On Tuesday, after loading 2,000 metric tons of LNG at Tongyeong in South Gyeongsang Province, Kogas’ LNG carrier SM Jeju LNG2 entered the Okpo Shipyard of Daewoo Shipbuilding & Marine Engineering

Hanwha Systems said Friday it has won a deal worth 45 billion won ($40.7 million) to develop a next-generation space radar that can detect and track space objects with precision. According to the defense and information technology service unit of Hanwha Group, it has won the Defense Industry Technology Center’s research and development project for the space radar worth 45 billion won. For the next five years, Hanwha Systems will develop three core technologies including the precise d

Changes in total fertility rate

South Korean telecom giant KT Corp. said Friday it will invest 9 billion won ($8.1 million) over the next three years to reduce its reliance on overseas suppliers amid the pandemic. KT said it will make the investment until 2023 to help its local suppliers manufacture homegrown materials and parts for equipment used by the telecom operator. The move comes as KT seeks to strengthen partnerships with local companies as uncertainties from the COVID-19 pandemic weigh on global supply chains. The

PRK managing director on introducing canned espresso martini in Korea via coffeehouse chain

LG Electronics, a major home appliance maker in South Korea, on Thursday said it will set up a new business unit in the United States to seek future growth opportunities. LG's North American Innovation Center will be based in Silicon Valley, California, with the task of exploring new business opportunities and cooperating with leading tech firms there, the company said. Rhee Sokwoo, who served as an associate director at the US National Institute of Standards and Technology (NIST), will head

LG retains most CEOs of affiliates but adds new roster of executives; CEO named to head LG Energy Solution

Netflix confirmed Thursday that it has established a branch office in Korea named Netflix Entertainment Korea to double down on its commitment to original content produced here. Launched in September, Netflix Entertainment Korea is responsible for content discovery, support and investment, while the existing Netflix Services Korea will carry on its overall service operation in the country. Netflix has run separate content branches in countries where the performance of original content is p

Samsung Electronics Co. maintained its top spot in the global NAND flash market in the third quarter of the year on the back of increased revenue, a report showed Thursday. The South Korean tech giant, also the leader in the DRAM sector, had a 33.1 percent share of the global NAND flash market in terms of revenue in the July-September period, up 1.7 percentage points from a quarter earlier, according to market tracker TrendForce. Samsung's revenue from NAND flash products came to a total of

After the explosive listing of SK Biopharmaceutical in June this year, initial public offerings of biologics companies are anticipated to continue their strong streak in 2021.   　Among those already known to be coming to the market next year, the ones attracting the most attention are SK Bioscience and HK inno.N, formerly CJ HealthCare.   　SK Bioscience, under SK Chemical and SK Discovery in SK Group’s governance structure, is a vaccine maker. The company boasts the world&rsqu

South Korean general foods company Daesang said Thursday that it is branching out into the Middle Eastern market, which serves a population of about 4 billion, with popular food products such as halal-certified kimchi and tofu. Daesang said it has teamed up with 21 stores in Qatar, including Carrefour, Lulu and Spar. In Iraq its products are being distributed through Carrefour and Majidi Mall, with plans underway to expand its presence in the region to countries including Saudi Arabia and Israe

Posco International, a South Korean general trading company, celebrated the achievements of its corporate social responsibility project known as “pro bono volunteers” Thursday. The volunteer team -- made up of employees skilled in the fields of marketing, human resources and finance -- worked with social enterprises for the last six months, offering them mentoring. Some of the beneficiaries included Dodohan Collabo, a media content platform focusing on youth policy; Eunhasoo Art Mu

LG Display is seeking to expand the use of organic light-emitting diode display panels at smart homes by teaming up with startups. On Thursday, LG Display announced eight candidates out of some 80 startups who have taken part in a contest the company has hosted since July to select open innovation partners. The eight are Roha, TheFamilyLab, AllBlanc, Verses, Yeastudio, VTouch, BeJewel and Volla. From here, the candidates will proceed to the next round where three finalists will be narrowed do

South Korean telecom operators are targeting wider market penetration of cloud gaming services by expanding availability, industry officials said Thursday, amid strong demand from mobile gamers. The country's three major carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- have in recent months opened up their subscription services that stream console games on smartphones to other carrier users and networks. Last week, LG Uplus expanded its 5G cloud gaming service GeForce NOW's availabil

South Korean mobile carrier KT said Thursday the company’s Internet Protocol television service is now available in Thailand, marking the first export case of IPTV platform technology to a foreign country. Dubbed the “3BB GIGA TV,” KT’s IPTV platform combined with over-the-top media service is being made available in the Southeast Asian country staring Thursday under a 24 billion won ($21.7 million) deal. KT worked with 11 local partners over the past 15 months via