Posco Future M and General Motors' Korean office celebrated the launch of the Cadillac Lyriq, an all-electric midsize luxury sport utility vehicle, in front of the Posco Group headquarters in Seoul on Wednesday. Top officials from the Korean battery materials producer and American automaker, including Yoo Byeong-og (second from right), CEO of Posco Future, and Hector Villarreal (second from left), chief of GM Korea, celebrated the companies' collaboration in crafting the luxury EV with

GYWANGYANG, South Jeolla Province -- South Korean steel giant Posco announced Tuesday that it has successfully established a full value chain for secondary battery materials and components. “We anticipate that as the (electric vehicle) market grows, the value of raw materials within the battery supply chain will increase, and thus we plan to accelerate investments focused on high-profit raw materials,” said Baung Jin-chul, vice president of Posco Holdings, during a press conference h

Samsung Electronics plans to unveil its highly anticipated next-generation Galaxy Z series infusing Galaxy AI at the upcoming event titled "Galaxy Unpacked 2024: Galaxy AI is Here” in Paris on July 10. The Korean tech giant released a teaser trailer through its YouTube channel on Wednesday, offering a tantalizing glimpse into the event that will be broadcast globally. The 15-second clip features iconic imagery of the Eiffel Tower, the Galaxy AI logo and a silhouette of Samsung’s

SK On said Wednesday that it signed a memorandum of understanding with US oil and gas company ExxonMobil to secure lithium supply. The agreement was finalized Monday at the Fastmarkets Conference, the world's largest conference for lithium and battery raw materials, in Las Vegas. SK On is to receive up to 100,000 tons of lithium produced by ExxonMobil using Direct Lithium Extraction technology from a lithium brine in Arkansas. Under the objective to supply lithium for 1 million electric veh

POHANG, South Gyeongsang Province -- A significant experiment is underway at Posco's massive steel-making complex in Pohang, the industrial heart of South Korea, ushering eco-friendliness into the steel industry. A four-story structure, with its safety fences painted in vivid yellow, houses electrode rods and storage for raw ironmaking materials. On Monday, the electric smelting furnace (ESF), which is usually housed within this structure, was temporarily laid out for overhaul separately as

Doosan Enerbility said Wednesday that Manuel Velez Pangilinan (right), chairperson of Meralco, the biggest electric power distribution company in the Philippines, had visited its headquarters in Changwon, South Gyeongsang Province. The Filipino mogul and his delegation checked out Doosan Enerbility's production capabilities at the latter's nuclear power plant, gas turbine plant and forging shop. Doosan said Pangilinan's visit is expected to expand and strengthen cooperation for en

The finance ministry said Wednesday it will provide low-interest loans of 17 trillion won ($12.22 billion) next month for corporate investment in the semiconductor industry and will push to extend tax benefits for investment in strategic technologies. It is part of execution plans for the comprehensive support package worth 26 trillion won announced by President Yoon Suk Yeol last month and designed to support the key industry amid intensifying global competition. Under the plan, the government

Porsche Korea previewed the brand's first all-electric sport utility vehicle, the Macan Electric, in Korea during a media event at Porsche Studio Songpa in southeastern Seoul on Monday. “We are thrilled to announce that the all-electric Macan will be arriving in Korea later this year. It encapsulates the classic Porsche sports car experience in an electric SUV format with extensive range and practicality for the everyday driver,” said Holger Gerrmann, CEO of Porsche Korea at the

Daewoo Engineering & Construction Chairman Jung Won-ju is ramping up efforts to expand the Korean builder’s global network for new business opportunities abroad, the company said Tuesday. According to the company, the chairman has made a total of 19 visits to 15 countries since 2022 when the builder was acquired by Jungheung Group. He also hosted nine meetings with foreign delegates visiting Korea during the same period. Over the past years, Jung visited Nigeria, Vietnam, India and Sin

Samsung Electronics, the world’s largest maker of memory chips, announced Tuesday it built the industry’s first certified Compute Express Link infrastructure, a crucial step not just for its product verification, but also for creating an open-source ecosystem. Samsung Memory Research Center, located in Hwaseong, Gyeonggi Province, received the certification from Red Hat, the world’s leading open-source solutions provider, which allows the tech giant to directly verify CXL-relat

Kakao Bank, the internet banking arm under Korean tech behemoth Kakao, introduced its new Dollar Box feature on Tuesday, in hopes of bringing the US greenback into users' everyday life. “The most sought-after foreign currency in Korea is the US dollar. It is a key currency that is acknowledged as a safe-haven asset to all,” Oh Bo-hyun, who heads the bank’s foreign exchange division, said at a press event held in southern Seoul. “Through Dollar Box, users can use US d

The American Chamber of Commerce in Korea hosted the AmCham Automotive Summit 2024 on Tuesday at the Grand Hyatt Seoul to provide insights into the impact of sustainability initiatives on the automotive industry. Partnered with US applied safety science company UL Solutions and automobile manufacturer General Motors, the event brought together key government officials and industry leaders to explore the vast spectrum of changes within the industry. Under the theme, "Future Mobility Technolo

LG Uplus, one of the top three telecommunications providers in South Korea, launched its self-developed generative artificial intelligence model ixi-GEN on Tuesday. Ixi-Gen is a small language model that learned LG Uplus’ communication and platform data based on LG AI Research Institute’s Exaone, a multimodal AI model capable of bilingual language processing and the bidirectional generation of language and images, developed in 2021. It can be used quickly and cost-effectively and mit

South Korean game developer Nexon's mobile role-playing game "Dungeon & Fighter" has topped global mobile game sales, energized by its popularity in China. According to a report released Tuesday by app market research firm Sensor Tower, Dungeon & Fighter recorded around $270 million in Chinese sales over the past month since its May 21 launch there. This figure exceeds the total revenue it accumulated in Korea over two years and three months. Sensor Tower credited the game

CJ CheilJedang, a leading South Korean food company, is signaling European expansion with the recent opening of its Bibigo brand store on Amazon Germany, the company said Tuesday. Opened last month, the brand store is featuring 19 products on Germany’s foremost e-commerce platform. The products include: seaweed snacks, dumplings and Korean sauces. Seaweed snacks, in particular, were launched first to meet the demand for more diverse, healthy snack options in the local market. CJ CheilJedan