Exporters close $18m in deals through video consulting between April and July

South Korea's top bulk carrier Pan Ocean Co. said Monday it has completed a takeover of a 36.25 percent stake in an export grain terminal on the US northwest coast in an effort to expand its presence in the global market. Pan Ocean said it has purchased the interest from Japan's Itochu, becoming the second-largest stakeholder in the Export Grain Terminal (EGT) at the port of Longview in the state of Washington. Pan Ocean didn't disclose the financial terms of the deal. US agricultural co

Samsung Electronics on Monday announced its partnership with d’strict, a local content producer for digital media, to reinforce its smart signage business by providing digital content tailored to customers. The content company created massive sea waves on the 1,620 square-meter Samsung LED display on the façade of SM Town’s building in Samseong-dong in southern Seoul in May. The two firms plan to unveil their collaborations at global landmarks like Times Square in New Yo

South Korea’s exports fell 0.2 percent on-year in the first 10 days of September according to Korea Customs Service’s report Sunday. The nation’s outbound shipments during the 10-day period marked $14.9 billion, down by 0.2 percent on-year from $15 billion in 2019. The daily average exports during the same period slipped by 11.9 percent.  The imports in early September decreased by 7.6 percent to reach at $13 billion, from $14.1 billion last year.  The economic

　Major South Korean companies saw their overseas sales tumble nearly 20 percent in second quarter of the year during the coronavirus pandemic, data showed. 　Combined overseas sales of the country’s top 100 firms by revenue totaled 146.3 trillion won ($123 billion) in the April-June period, down 19.8 percent from a year earlier, according to the data from the Federation of Korean Industries. 　The tumble marks a sharp turnaround from the first quarter, when their sales edged up 0.65 pe

Samsung Electro-Mechanics said Sunday it has developed the world’s smallest power inductor. According to the Korean electronic components maker, the new power inductor is approximately 50 percent smaller than the industry’s previously smallest product, with a width of 0.8 millimeter and a length of 0.4 mm, a significant development from a width of 12 mm and length of 10 mm. The thickness of the latest product measures 0.65 mm. A power inductor is a key electronic component insi

Oriental Brewery Company led by CEO Ben Verhaert has extended payment deadlines to help wholesalers and small business owners affected by a recent spike in coronavirus cases in Korea. Earlier this month, the largest beer maker in South Korea, which is owned by AB InBev, announced it has allowed alcohol wholesalers across the country to pay for its products at a later date or pay in installments as part of its efforts to ease the burden on businesses that have been battered by stricter social di

LIG Nex1, an aerospace and defense company, donated some 1,000 everyday essential items to a Good Will Store in Daejeon, in hopes of softening the blow of the COVID-19 pandemic for disabled people. Full proceeds from the sales of these donated goods will be used to bolster the employment security of the disabled workers at Good Will Stores. LIG Nex1 said that this campaign attempts to foster responsible corporate culture based on voluntary participation from its employees. In other forms o

In the future, people could be shopping for masks at electronics retailers instead of at pharmacies. Those masks would be capable of monitoring wearers’ breathing patterns, captured particles and gas, and be able to connect with other devices like smartphones. This is not just a dream for Beelee Chua, a professor at the electric engineering school of Korea University. In 2018, professor Chua’s research team, in collaboration with Ewha Womans University, developed a micro ionizer

Porsche Korea plans to launch entry model Taycan 4S here in December

It has been two years since Hyundai Motor Group Executive Vice Chairman Chung Euisun became the de-facto head of the group. Under his leadership, the automaker has bet big on future mobility centering on smart cars and eco-friendly vehicles. To envision future mobility, Hyundai showcased three solutions for the future -- urban air mobility, purpose built vehicle, and hub, a place for mobility transfer and community activities -- at CES 2020 in Las Vegas early this year. Based on these mobil

After a planned sale of debt-ridden Asiana Airlines to HDC Hyundai Development collapsed, the carrier is expected to undergo organizational restructuring, including sales of some of its subsidiaries. Also due to the sales failure, Asiana’s largest shareholder Kumho Industrial and HDC Hyundai Development are both expected to file lawsuits, as they blame each other for the deal’s collapse. Creditors, including Korea Development Bank, are considering selling subsidiaries such as Air

LG Group, South Korea's fourth-largest conglomerate, said Sunday it has formed a research consortium with global partners to discover high-performance materials with artificial intelligence (AI) and robot technologies. LG Science Park, the research and development (R&D) hub of LG Group in Seoul, joined hands with French energy firm Total S.A., Canada's McMaster University and the University of Toronto, and the National Research Council of Canada to launch the Alliance for AI-Accelerated Ma

Perceptions and career aspirations are changing

The prolonged impact of the new coronavirus on the airline industry has derailed two major deals in the aviation sector here, triggering concerns of massive layoffs and the overhaul of the country's airline industry amid worsening business conditions. On Friday, Kumho Industrial Co., which owns Asiana Airlines Inc. notified HDC Hyundai Development Co. of the termination of the deal to sell the carrier to the local property developer, due to differences over acquisition terms. The deal's ruptur