LG International has been recognized for its practices in environmental responsibility, social responsibility and governance at the 2020 Outstanding Companies Awards hosted by the Korea Corporate Governance Service, the company said Tuesday. According to the commodity trading and mining affiliate of LG Group, it received an “A” ESG rating from the KCGS, an improvement from a B+ from a year earlier. Specifically, LG International was given an A in environmental responsibility, an

Coupang, an e-commerce giant, issued a statement Tuesday claiming that facts surrounding the death of a contract worker were being distorted. Denying claims that the short-term worker had died of overwork, Coupang said it will take strong actions against those who spread distortions. On Oct. 12, the short-term contract worker, who worked at Coupang’s Daegu Logistics Center, was found dead after returning home at around 6 a.m. Over this, there have been claims that the worker died of ov

Samsung SDI enjoyed a 61.1 percent surge in revenue to 267.4 billion won ($237.4 billion) in the third quarter, fueled by a strong performance of its battery business, according to a regulatory filing posted on Tuesday. The South Korean battery giant recorded 3.08 trillion won and 240.7 billion won in revenue and net profit, a 20.2 percent and 10.7 percent jump in the same period. The company’s booming battery business registered a revenue of 2.3 trillion won, a 22 percent spike compa

Kim Ran-do, SNU professor and author of ‘Trend Korea’ series predicts more trends

Unity’ subscription-based business model sacrifices profitability for greater market share

ETAS Korea said Tuesday it has agreed to cooperate with KPMG Samjong Accounting on automobile security business. In June 2020, the UNECE’s World Forum for Harmonization of Vehicle Regulations recently adopted a regulation on cyber security to mandate automakers and auto part producers to put in place a system to tackle security risks prior to putting vehicles on the market. UNECE stands for United Nations Economic Commission for Europe. Accordingly, all new cars to be registered in Eu

Samsung Group on Tuesday was preparing for the send-off ceremony for its late chief Lee Kun-hee as more leaders from business and political communities mourned the death of one of South Korea's most influential tycoons. Lee died Sunday at age 78, more than six years after being hospitalized for a heart attack. The funeral ceremony for Lee, scheduled for Wednesday, is expected to start with eulogies featuring his decadeslong commitment to the country's top conglomerate and his achievements, tho

Hanwha Energy Corp., a South Korean renewable energy company, said Tuesday that it has won a project worth $185 million to build a solar power plant on Hawaii's most populated island of Oahu. Under the deal with Hawaiian Electric Co., Hanwha Energy is set to build the 60-megawatt solar facility and energy storage systems (ESS) with capacity of 240 megawatt hours (MWh) by 2023. ESS refers to energy saving procedures in large batteries for the efficient distribution of power. Hanwha Energy sai

Speculation is growing over when Samsung Electronics Vice Chairman Lee Jae-yong would take the position of chairman in South Korea's largest conglomerate following his father's death, industry insiders said Tuesday, though the heir has already been recognized as the tech giant's de facto leader. His father and a longtime Samsung Group head, Lee Kun-hee, died Sunday at age 78, more than six years after being hospitalized for a heart attack. Jae-yong, the eldest scion and the only son of the l

SK Telecom Co., South Korea's largest wireless provider, said Tuesday it will open a new flagship store by working with Apple Inc. and Microsoft Corp. The new store, named T Factory, in the trendy neighborhood of Hongik University in western Seoul, will open on Oct. 31, according to the carrier. SK Telecom said it is collaborating with the US tech giants and Samsung Electronics Co. to showcase their latest products and services, including the carrier's cloud gaming service, launched in Septemb

Samsung Display Co., a major display panel maker in South Korea, has received approval from the US government to supply certain display products to Huawei Technologies Co., sources here said Tuesday, amid Washington's sanctions against the Chinese tech giant. Samsung Display recently acquired a license from the US Commerce Department to export some of its smartphone OLED displays to Huawei. Samsung Display is the world's largest smartphone OLED display supplier. The US started to impose new

Samsung SDS Co., an IT service unit of Samsung Group, on Tuesday reported strong third-quarter earnings as its quarterly sales reached a record high amid the pandemic. The company logged a third-quarter net profit of 161 billion won ($142.7 million), up 2.6 percent from a year earlier. Samsung SDS said its revenue jumped 11.7 percent on-year to 2.96 trillion won in the July-September period, its largest-ever quarterly sales. The company's operating income advanced 6.4 percent on-year to 219.8

South Korea's top online portal operator Naver and entertainment and logistics giant CJ Group signed a share-swap deal Monday in a strategic tie-up to boost their competitive edge in the e-commerce and entertainment industries, officials said. Under the deal worth 600 billion won ($531 million), Naver will acquire a 7.85 percent stake in CJ Logistics Corp., a parcel delivery company, a 5 percent stake in entertainment giant CJ ENM Corp. and a 6.26 percent stake in Studio Dragon, a drama produc

  YouTube ranked as the fifth most trustworthy media in South Korea in the third quarter, beating other traditional local outlets, a survey showed Monday. The state-run broadcaster KBS topped the list with 17.7 percent trust level in the survey conducted by Kantar Korea, a research firm, and commissioned by KBS, from Sept. 24-26 on 1,009 adults across the country. Public broadcaster MBC came in second with 10.6 percent, followed by two cable channels, JTBC with 7.9 percent and TV Chosun w

BMW Korea said Monday its BMW Driving Center in Yeongjongdo, Incheon celebrated an accumulated 1 million visitors, since opening in August 2014. The BMW Driving Center offers various hands-on programs, such as test-drives on its 2.6-kilometer driving track and education courses for children.  The center in Yeongjongdo is the company‘s first to be built in Asia and the third in the world, after Germany and the US, the company said. Written by Jo He-rim (herim@heraldcorp.com)