The world’s first wireless and transparent OLED TV and a premium built-in appliance introduced by LG Electronics have been selected among the 200 best inventions of the year by Time magazine. The transparent OLED TV, dubbed LG Signature OLED T, was included in the consumer electronics criteria, according to industry sources on Thursday. “The TV’s always-on-display feature can display ever-changing artwork, or you can turn it off to simply look like a pane of glass,” the m

Juliette Biao, director of the United Nations Forum on Forests Secretariat, describes South Korea’s forest policy as a global model of successful reforestation and sustainable forest management, achieved through a balance of scientific methods and community-based efforts. “Korea’s forest policy is one of the great examples of success in conservation, reforestation, and sustainable management. Since the mid-20th century, the country has transformed degraded landscapes into well-

Mercedes-Benz Korea CEO Mathias Vaitl (right) and Kim Nam-kyun, president of the Korea Electrotechnology Research Institute, pose for a photo during a signing ceremony for a memorandum of understanding in Seoul on Tuesday, during which the two agreed to set up a joint research center on EV charging systems, called the Global Interoperability Test Center. “As the electric vehicle market continues to evolve, expanding charging infrastructure and creating a standardized testing environment ar

50-year-old heiress ascends to chair, sharing leadership at key affiliates with older brother

Mobile carriers are strengthening their severance packages to encourage early retirement amid efforts to renew their business portfolio and restructure stagnant workforce. Kicking off voluntary redundancy, KT Corp., the country's second-largest telecommunication company, recently raised the maximum severance pay for voluntary redundancy, from 330 million won ($238,000) to 430 million won. Earlier this month, the mobile carrier decided to establish two new affiliates, KT OSP and KT P&M,

LG Innotek said Wednesday it has developed a high-performance eco-friendly magnet that eliminates the use of heavy rare earth elements. Heavy rare earth elements have been critical for magnets to retain their strength at high temperatures. However, these elements are predominantly sourced from specific countries like China, posing price volatility and supply instability risks, alongside significant environmental damage due to mining. Following its 2021 achievement of reducing rare earth usage by

SK Networks said Wednesday it has joined forces with Malaysia’s Sunway Group, a leading conglomerate in Southeast Asia with key interests in real estate and construction, to drive artificial intelligence innovation. Founded in 1974, Sunway is one of Malaysia’s top 20 conglomerates, operating in 13 sectors across 50 countries with a market capitalization exceeding 10 trillion won ($7.2 billion). Under the partnership, the two companies plan to collaborate in the AI sector across Kor

The American Chamber of Commerce in Korea hosted a seminar on Tuesday in Seoul, partnering with the Korea International Trade Association to explore key business opportunities and challenges associated with expanding into the US market. Now in its sixth year, the annual seminar focused on providing essential insights and practical strategies for Korean companies aiming to establish or expand their presence in the US, with particular emphasis on US market trends and key implications of the 2024 U

Arbitration can be a powerful tool to resolve the rising number of disputes related to private equity investments, according to a seminar jointly hosted by leading law firms from South Korea and the US. Kim & Chang, South Korea’s leading law firm, and US law firm Debevoise & Plimpton LLP held a joint seminar on arbitrating private equity disputes in southern Seoul on Monday. The event kicked off with lawyer Jeffrey Sullivan from Debevoise & Plimpton LLP explaining how private e

Hankook Tire announced on Tuesday that it has incorporated three types of carbon black, a byproduct of the combustion of various petroleum products, into tire production as part of its efforts to create a circular economy. Last year, Hankook Tire launched the Tire-to-Tire Circular Economy Model consortium together with HD Hyundai Oilbank and HD Hyundai OCI to upcycle waste tires and develop carbon black. HD Hyundai Oilbank sources recovered carbon and pyrolysis oil, or bio-oil, from end-of-life

Lambda CEO Stephen Balaban expressed his anticipation of teaming up with SK Telecom, South Korea's largest wireless carrier by membership, ahead of his upcoming visit to the country as a keynote speaker for the SK AI Summit on Nov. 4-5. “As we continue working toward a world where access to computing is as easy and ubiquitous as electricity, there’s no better partner than SK Telecom -- a telecommunications company that connects people around the world and truly understands how A

SK Inc., the holding company of South Korea's SK Group, has unveiled a three-year corporate value-up plan that includes enhanced shareholder benefits. In a plan unveiled Tuesday, the company vowed an annual dividend of about 280 billion won ($202 million), maintaining a minimum payout of 5,000 won per common share annually until 2026. Additionally, the company plans to buy back and retire 1 to 2 percent of its market capitalization in treasury shares each year. These efforts will be finance

Celltrion has secured contracts to list its Zymfentra — the world’s only subcutaneous injection formulation of its infliximab Remsima — across all public and private insurance sectors managed by the top three US pharmacy benefit managers. Celltrion announced Tuesday that it had recently finalized an agreement with a pharmaceutical group purchasing organization representing one of these major pharmacy benefit managers to secure the listing of Zymfentra in private insurance formu

South Korea's leading kimchi maker Daesang said Tuesday it hosted the 2024 Jongga Kimchi Blast, an annual event dedicated to promoting kimchi in the US. The event featured a kimchi cooking contest and a "gimjang" experience, where around 200 residents tried traditional kimchi-making at a local mall in New Jersey. In New York, the cooking contest drew 381 contestants, including chefs, teachers and accountants, each crafting unique kimchi-based dishes. California-based food styl

Japan's JTI is reentering South Korea's heated tobacco market with a new product, Ploom X Advanced, in a renewed growth push. "We understand Korea's market is highly competitive, but we believe now is the ideal time to introduce our product," JTI Korea general manager David Wheeler said at the launch of the new product at a Seoul hotel on Monday. "As we are standing in a rapidly evolving market, it's crucial to develop products to an advanced level with top qua