BUSINESS
Jan 21, 2021
ULikeKorea, Sumitomo sign deal on Japanese pet care market
ULikeKorea on Thursday announced that it had signed a memorandum of understanding with Sumitomo Corporation Korea to develop a health care tracker chip for pets in Japan. While existing microchip implants for dogs and cats reveal their identification serial numbers and can be used to trace lost animals back to their families, the proposed new product could enable real-time monitoring of an animal’s body temperature and activity levels through a mobile application. With this information, p
Hanwha sets eyes on green hydrogen
Hanwha Solutions to inject $1b to transform into a leading solar-to-hydrogen company
LG Group chief is richest Korean under 50
Nation’s superrich group comprises both chaebol members and new business figures
Kim Dong-kwan reinvents Hanwha’s identity as renewable energy leader
From a wartime gunpowder supplier to a retail-to-finance conglomerate, Hanwha Group has made quite a transformation in its near seven-decade history. Yet, its change from now on may be even more dramatic, as the group with 86 affiliates and total assets of 71 trillion won redefines its core to future-leading technologies such as solar power and hydrogen. At the very center of this ongoing shift in Hanwha’s identity stands Kim Dong-kwan, the eldest son of Hanwha Group Chairman Kim Seun
To infinity, and beyond: Hanwha enters global satellite race
Hanwha zeroes in on booming satellite internet market
LG Energy Solution No.1 in battery, Hyundai No.5 in electric vehicle markets
LG Energy Solution topped the global market of electric vehicle batteries in 2020, while Hyundai Motor and its sister company Kia have ranked fifth in the global electric vehicle market. According to market tracker EV-Volumes, the country’s battery giant LG Energy Solution deployed the most electric vehicle batteries in the world – a total of 34.5 gigawatts, or enough to power 700,000 electric vehicles. LG was followed by China’s CATL and Japan’s Panasonic, which sold
Lee’s 1st message from prison: ‘Compliance drive should continue’
Samsung heir Lee Jae-yong finally broke his silence, three days after he was sent back to prison on Monday for bribing former President Park Geun-hye. In a message sent via his attorneys on Thursday, the Samsung Electronics vice chairman reaffirmed the importance of his ongoing drive to establish a law-abiding culture at the conglomerate. “While reaffirming my continued support for Samsung’s legal compliance monitoring committee, I implore its chairman and its members to carry
[Photo News] Wait in line
Hydrogen-powered vehicles wait in line for a free refueling at a rest area along a highway in Chuncheon, Gangwon Province, Thursday. The hydrogen station, which is on a trial run, is offering free refueling Thursday and Friday between 11 a.m. and 4 p.m. for up to 2 kilograms of hydrogen. (khnews@heraldcorp.com)
Pfizer to submit application for COVID-19 vaccine approval by end-Jan.
A local office of global pharmaceutical company Pfizer Inc. is expected to submit an application for the approval of its COVID-19 vaccine to South Korea's drug safety agency, industry sources said Thursday. The company is planning to submit the application to the Ministry of Food and Drug Safety before the end of this month, they said. Approval would mark the country's first batch of vaccines as part of a procurement program. Earlier, the government signed a COVID-19 vaccine procurement contra
Experts discuss how Korean biotech firms can attract US investments
Exactly a week after the year’s biggest global investor relations event JP Morgan Healthcare Conference wrapped up on Jan. 14, Korean biotech firms were still more than eager to pitch their businesses to the US investors in a spin-off event, held virtually on Thursday. There were several key takeaways from the event’s panel talk comprising members from US law firm Sidley Austin, US venture capital firm Novatio and a couple of Korean biotech firms who have made exemplary forays into
Posco’s LNG-powered bulk carrier successfully finishes first trip
The world’s biggest LNG-powered bulk carrier has successfully returned from its first trip to bring in iron ore to South Korea, the country’s leading steelmaker said Thusday. Posco introduced two bulk carriers, dubbed HL Eco and HL Green, in December in line with its efforts to reduce gas emissions in its business operations. According to Posco, HL Green has successfully completed its first trip from Mokpo, South Jeolla Province, to Australia, and brought back 180,000 metric ton
Preorders for Galaxy S21 tipped to be larger than its predecessor
Preorders for Samsung Electronics Co.'s new flagship smartphone line are estimated to be larger than those of its predecessor, industry insiders here said Thursday, as the South Korean tech giant targets brisk sales of its latest 5G handsets. Preorders for the Galaxy S21 series are expected to be 15-20 percent more than those of the Galaxy S20 family, according to industry officials, apparently on the back of increased orders for unlocked phones. In South Korea, a weeklong preorder period star
Hyundai Motor opens ultra-fast EV charging station in Seoul
Hyundai Motor Co. said Thursday it opened an ultra-fast charging station for electric vehicles (EVs) in southeastern Seoul in the latest move that could boost convenience for drivers of zero-emission cars. Hyundai Motor and SK networks, a chemical and energy company, jointly transformed an old gas station into South Korea's largest ultra-fast EV charging station spanning 4,066 square meters, the companies said. The station has eight 350 kWh high-speed chargers developed by Hyundai Motor, which
Samsung Display to mass-produce 90Hz OLED screens for laptops
Samsung Display Co. said Thursday it will mass-produce organic light-emitting diode (OLED) displays for laptops with a higher refresh rate in the first quarter of the year as the South Korean panel maker eyes increasing sales amid the pandemic. Samsung Display said the mass production of its 90Hz OLED screen for laptops will begin in March. The affiliate of Samsung Group said most laptops in the market currently come with a 60Hz refresh rate display, but its latest product will deliver a more
SK Innovation invests in China's EV battery swap station operator
SK Innovation Co., a South Korean refinery-to-battery company, said Thursday it has invested in a Chinese battery swap system provider to step up its battery business in the world's largest market. SK Innovation said it acquired a 13.3 percent stake in Blue Park Smart Energy Technology Co. (BPSE), a subsidiary of Beijing Automotive Group, without elaborating on the financial terms. The South Korean firm said the strategic investment will boost its electric vehicle (EV) battery business in Chin