South Korean builder Daewoo Engineering & Construction has been selected as the winning bidder for a mineral fertilizer plant project in Turkmenistan, valued at approximately 1 trillion won ($730 million), according to the company Monday. The project involves the construction of a mineral fertilizer plant in Turkmenabat, 450 kilometers east of the capital Ashgabat. The plant will have an annual production capacity of 350,000 tons of phosphate fertilizer and 100,000 tons of ammonium sulfate,

LG Chem said Thursday that it plans to commercialize an eco-friendly ingredient derived from plant-based oils for cosmetic products, becoming the first to do so. The South Korean chemicals giant is set to develop functional cosmetics using 100 percent bio-based 3-hydroxypropionic acid, a compound produced through the microbial fermentation of plant materials. This marks the first time 3HP will be applied as a cosmetics ingredient. While 3HP is considered as an innovative bio-material with vast p

Klik, Korea’s largest foreign talent recruitment service, operated by Job Korea, announced Wednesday that it will host a networking event for international students and job seekers on Oct. 24. Organized to ease the often difficult process of job hunting for foreigners and create stronger ties within Korea’s expatriate community, “Klik Happy Hour” will offer practical tips for job seekers, including guidance on how to effectively use the Klik platform. In addition to infor

Pernod Ricard Korea on Tuesday debuted its premium blended Scotch whisky, The Deacon, in collaboration with Sovereign Brands. The whisky blends peaty Islay and fruity Speyside varieties, offering a smoky yet sweet flavor. "The Deacon captures our innovative style, delivering luxury, uniqueness, complexity and balance, while being easy to enjoy," said Brett Berish, CEO and founder of Sovereign Brands, at a showcase event held in Seoul on Tuesday. (Pernod Ricard Korea)

New CEO at US subsidiary hints at possible expansion on West Coast

The Korean bakery brand Paris Baguette has opened its 600th overseas store, the newest one in Toronto, Canada, just a year after celebrating its 500th store, the brand's company SPC Group announced Tuesday. This new location marks Paris Baguette’s seventh store in Canada. Paris Baguette has been expanding rapidly over the past year, recently securing agreements to enter new markets in Southeast Asia, including Thailand, Brunei and Laos. By the end of this year, the brand plans to open

Hyosung Group Chairman Cho Hyun-joon met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Monday, seeking government support for the chemical, textile and construction conglomerate’s new business ventures in Vietnam. The meeting focused on Hyosung’s ongoing investments and potential expansion into environmentally friendly and high-tech sectors, the group said Tuesday. Hyosung executives, including Vice Chairman Lee Sang-woon, and senior Vietnamese officials were also in a

Samsung Biologics announced Monday that it has launched S-HiCon, a new platform specializing in high-concentration formulation development, designed to meet rising demand for high-concentration biopharmaceuticals. The company officially introduced the platform at Bio Japan 2024, a biotechnology expo held from Wednesday to Friday in Yokohama, Japan. A webinar explaining the platform was also released via the company's official website Monday. S-HiCon is designed to meet increasing market dem

Japan Tobacco Group subsidiary JTI Korea is sharpening its focus on a consumer-first approach as it prepares to launch its first heated tobacco product in Korea by year-end, part of the company’s broader strategy to foster sustainable growth amid shifting market conditions, JTI Korea said Monday. As a company that has been recognized as a "Top Employer in South Korea" for five consecutive years, David Wheeler, general manager of JTI Korea, in a message to employees emphasized the

Korean defense firm to attend US Army’s Annual Meeting & Exposition in Washington

Lotte Group Chairman Shin Dong-bin, alongside executives from the group's Korean and Japanese subsidiaries, visited Ghana to support the sustainable sourcing of cacao, a key ingredient in their signature chocolate product. As part of the Sustainable Cocoa Bean Project, a joint initiative by Lotte's Korean and Japanese branches, the visit included Lee Young-gu, head of Lotte's food division; Lee Chang-yeop, CEO of Lotte Wellfood; and Genichi Tamatsuka, CEO of Lotte Holdings. Lotte

How can cities contribute to achieving carbon neutrality? According to Kim Young-rok, CEO of NineWatt, it is simpler than you might think. “When people think about energy efficiency, they often think of expensive, high-tech solutions,” Kim said. “But before you jump into cutting-edge technologies, the key is to optimize what’s already there -- the buildings you visit every day. The real question is: how do we do that efficiently?” Founded in 2019, NineWatt is a Kore

Hanwha Group Chairman Kim Seung-youn has reiterated the company's approach to overcoming crises as a “Great Challenger,” expressing the need to take more proactive and leading measures rather than waiting for market conditions to turn favorable. “Driven by unwavering beliefs that do not compromise with the currents of the times and a relentless dedication to being the best, we will overcome the waves of crises and write a new history for Hanwha,” said Kim in a video

Cable-to-electric machinery giant looks to make most of AI boom

AliExpress Korea CEO Ray Zhang expressed the company’s commitment to enhancing product safety during a parliamentary audit, where he faced criticism from South Korean lawmakers for the platform’s failure to stop the sale of hazardous products despite previous pledges to do so. The audit, led by the Trade, Industry, Energy, SMEs and Startups Committee on Monday, was convened to address growing concerns about unsafe products circulating on Chinese e-commerce platforms. These platforms,