GYWANGYANG, South Jeolla Province -- South Korean steel giant Posco announced Tuesday that it has successfully established a full value chain for secondary battery materials and components. “We anticipate that as the (electric vehicle) market grows, the value of raw materials within the battery supply chain will increase, and thus we plan to accelerate investments focused on high-profit raw materials,” said Baung Jin-chul, vice president of Posco Holdings, during a press conference h

POHANG, South Gyeongsang Province -- A significant experiment is underway at Posco's massive steel-making complex in Pohang, the industrial heart of South Korea, ushering eco-friendliness into the steel industry. A four-story structure, with its safety fences painted in vivid yellow, houses electrode rods and storage for raw ironmaking materials. On Monday, the electric smelting furnace (ESF), which is usually housed within this structure, was temporarily laid out for overhaul separately as

Doosan Enerbility said Wednesday that Manuel Velez Pangilinan (right), chairperson of Meralco, the biggest electric power distribution company in the Philippines, had visited its headquarters in Changwon, South Gyeongsang Province. The Filipino mogul and his delegation checked out Doosan Enerbility's production capabilities at the latter's nuclear power plant, gas turbine plant and forging shop. Doosan said Pangilinan's visit is expected to expand and strengthen cooperation for en

South Korean discount chain Homeplus has renovated its Ulsan branch into the Homeplus Mega Food Market, a new concept store designed to offer an enhanced on-site shopping experience focused on fresh food products. “Along with the Homeplus Mega Food Market, the new core drive of Homeplus’ growth, we will continue to increase our interactions with customers while strengthening the competitiveness of our offline stores,” said Jo Do-yeon, head of Homeplus’ marketing departmen

Korean fashion company ShinWon Corporation said Friday that it is increasingly adopting artificial intelligence and big data to lead tech innovation in fashion. By predicting future trends through extensive data analysis, ShinWon said it adapts swiftly to market changes, incorporating these insights into product planning and production. To understand market conditions and patterns, ShinWon employs online market sales data analysis, trend analysis and social media analysis. By examining actual sa

South Korean national flag carrier Korean Air will reopen some routes to China that had been suspended since the COVID-19 pandemic, in response to a recent rise in travel demand between the two countries. Starting in July, Korean Air will resume flights between Busan and Shanghai, as well as between Jeju Island and Beijing, with each route operating seven times a week, according to the air carrier on Thursday. Later this year, flights will also resume between Incheon and Hefei, Busan and Beijing

Chang Jae-hoon, president and CEO of Hyundai Motor Group, has been named as co-chairman of the Hydrogen Council, a global coalition of CEOs committed to speeding up hydrogen-based energy transition. The Hydrogen Council announced Tuesday Chang's appointment to replace Yoshinori Kanehana, chairman of Japan’s Kawasaki Heavy Industries, whose term ends in June. Chang will serve the chairman role alongside Sanjiv Lamba, CEO of Linde, the US industrial gas producer. This appointment follow

Korean hybrid space rocket developer secures order backlog of $12.61m

HD Hyundai organized gravesite cleanup services at Seoul National Cemetery and Yeongcheon National Cemetery in North Gyeongsang Province to honor the Korean Patriots and Veterans Month of June. A total of 140 employees participated in these volunteer services on June 14 and May 24. They began by paying respects to individuals of national merit followed by weeding, planting flowers, polishing tombstones and maintaining flags. In South Korea, individuals of national merit are recognized for signif

LG Electronics said Sunday it has unveiled its new brand experience zone, called “Another Hanok,” for its latest energy-efficient home appliances, in Madrid, Spain. Styled on a traditional Korean house or "hanok," the net-zero space features the company’s artificial intelligence-based heating, ventilation and air conditioning solutions for corporate clients. (LG Electronics)

US-based eco-friendly startup Torus said Friday it has offered its food waste handling service to 38 households in West Windsor, New Jersey, to connect waste producers and composting companies through an artificial intelligence-based matching system. This project, supported by Green Matters, a civic organization dedicated to environmental justice including climate issues, officially ran through Sunday, but Torus plans to continue the project afterward. Founded in December 2023 by Zikang Jiang, a

With investment injection worth $300m, new plant to increase compact loader production capacity by 20%

Nongshim, the top ramyeon manufacturer in South Korea, said Friday it plans to invest 229 billion won ($166 million) to build a new logistics center in Ulsan, South Gyeongsang Province, largely driven by increasing overseas sales in recent years. The new Ulsan logistics facility will enhance the company’s distribution network, facilitating connections between ingredient suppliers and its ramyeon production plants in Gumi and Busan. Nongshim said that the company is considering constructing

LY Corp., the operator of popular mobile messenger Line, has announced its plan to terminate its Line Pay service in Japan next year, amid criticism over Japan's apparent pressure to shed Naver Corp., South Korea's biggest internet portal operator, from LY. LY, a 50-50 joint venture between Japan's SoftBank and South Korea's Naver, said Thursday the mobile payment service will be terminated by April 30, 2025, in Japan, citing "optimal allocation of management resources.&

Korea Ginseng Corp., the leading ginseng product manufacturer in the country, announced on Thursday its plans to introduce its flagship health functional food products to Guardian and Watsons, the top health and beauty stores in Malaysia, as part of efforts to expand its presence in Southeast Asia. This initiative follows a recent increase in health awareness in Malaysia, a significant economic player in the region, which has led to growth in the health-functional food market from 1.5 trillion w