LG Innotek said it has agreed to support some 200 partner firms’ efforts to improve their environmental, social and corporate governance. The electronic component maker signed a deal with the Korea Commission for Corporate Partnership to jointly develop ESG indexes for its partner companies, provide education, assessments and consulting services. The commission has signed similar agreements with 11 companies in chemicals and retail among others, and the one with LG Innotek was the first

Hana Financial Group has announced a set of mid- to long-term strategic goals for 2030 as it reorganized its corporate culture and strategy departments to better prepare for future industries such as the metaverse and blockchain. For the past 11 months since June last year, some 12,000 staffers of Hana Financial took part in a bottom-up project called “New Vision” consisting of staff surveys, in-depth interviews, metaverse workshops, collecting customer opinion, outside expert inter

Hyundai Engineering (HEC) set up a new division for nuclear power projects as it seeks to develop its own small modular reactors (SMR). What was previously a team has been expanded and elevated to a division, and more nuclear power specialists will join, the company said. In addition to SMRs, Hyundai Engineering plans to produce micro modular reactors and hydrogen; enter new fields such as decommissioning of aging nuclear power plants, nuclear fuel cycle, reactors for research purposes and nuc

As he took office in January, LS Group Chairman Koo Ja-eun vowed an “ambidextrous management” to maximize synergy between existing core businesses and new businesses for the future. “With advanced technology in electricity and materials in one hand, and future technologies such as artificial intelligence, big data and Internet of Things in the other, we will offer solutions of customer-oriented value in a balanced manner,” Koo said. It comes as Koo and Myung Roe-hyun, c

Dongsuh Foods Corp. has sought to give back to society by holding literary contests, professional Go championships, and donating books to elementary school libraries. For the past three decades, the instant coffee giant has discovered thousands of female literary talents through its biennial contest. Some 240,000 pieces of literary work have been submitted to the Dongsuh Literary Awards, and about 6,000 writers have been awarded. Some 18,000 pieces were received for the 15th Dongsuh Literary Aw

Standard Chartered Bank Korea said it will offer a special interest rate of up to 2 percent per annum to new customers opening a checking account by May 31. Launched in July last year, the SC My Signature account has been popular for its stable interest rate amid high market volatility. For those with over 100 million won ($79,140) in SC bank transactions, an interest rate of up to 1.7 percent will be applied to the amount in deposit for 31 or more days, the bank said. For those making their

Hyundai Steel said it signed a deal with the Korea Institute of Geoscience and Mineral Resources (KIGAM) on technological cooperation to move faster towards carbon neutrality. The steelmaker said the state-funded think tank’s mineral-related technologies will be used to recycle materials and resources, and analyze raw materials as part of efforts to run low-carbon steel mills in the long run. Through cooperation with KIGAM, Hyundai Steel said it will be able to add value to waste materia

Posco said it will supply 2,100 tons of hot-rolled steel material to be used in a hyperloop, or a high-speed transportation system where pressurized vehicles travel through a low-pressure tube, at a test facility in the Netherlands. The steelmaker said it will begin supplying the PosLoop355, specially developed to be used for the hyperloop tube, to Hardt, the Dutch company that is building the European Hyperloop Center, from next month. The PosLoop355 absorbs vibrations at 1.7 times the rate o

Oriental Brewery began a new television advertisement campaign to encourage get-togethers after two years of social distancing. The commercial “Let’s meet now" shows words of greetings and ends with friends and family toasting and having a good time. Major OB brands such as Cass, OB Lager, Hanmac and FiLGood are shown in the ad as something that connects people. OB beer accounted for more than 50 percent of the beer bought from convenience stores and supermarkets in the first

Posco Energy said it signed a deal with a Danish fund management firm focused on renewable energy infrastructure to work together on offshore wind power and green hydrogen business. The largest private energy producer in South Korea said it will cooperate with Copenhagen Infrastructure Partners on the offshore wind power business; supply chain including steel products for offshore wind power; green hydrogen business; and run a joint working group. Posco Energy President Chung Ki-sup, CIP Manag

Renault Korea Motors has added a new trim called Inspire to its XM3 SUV, which has been lauded for its distinct, upscale design. Named after the show car unveiled at the 2019 Seoul Motor Show, XM3 Inspire comes in two colors -- cloud pearl and sonic red. The Inspire trim of the compact SUV features ventilated leather seats, heated rear seats, customized ceilings, a shield to minimize wind noise when driving at high speeds and small design touches such as red lines on the air curtain, side fend

A South Korean budget mobile carrier said on Monday it will introduce two 5G Motorola smartphone models, nine years after the American brand pulled out the mobile business here. Bookings for the new phones, which will be released at the end of this month, can be made at the online mall of LG Hello Mobile. Motorola left the Korean mobile market in December 2012. The new models Edge 20 Lite 5G and Moto G50 5G are priced at 399,000 won and 349,000 won, respectively. The midrange smartphones sup

The airport express train, which runs nonstop from Seoul Station to Incheon International Airport Terminal 1 and Terminal 2, will resume operation from May 30 after a hiatus of about two years due to the pandemic. Check-in for Korean airlines and immigration service will also be available at the City Airport Terminal in Seoul Station. “As we are resuming the express train service after two years, we are preparing new services to enhance customers’ convenience and conducting thoroug

LG Energy Solution Ltd. and the Research Institute of Industrial Science and Technology (RIST) said on Wednesday they agreed to conduct a joint research project to develop smart factory technologies. Among the technologies the country’s top battery maker and the Posco-founded think tank plan to develop together is a “digital twin,” a virtual representation that serves as the real-time digital counterpart of a physical space to predict possible problems through various simulati

Researchers at the Korea Advanced Institute of Science and Technology said they succeeded in real-time visualization and measurement of floral scent emission for the first time in the world. Using optical interferometry, research teams led by mechanical engineering professor Kim Hyoung-soo and biological sciences professor Kim Sang-gyu measured the frequency with which lily flowers emit scents. Floral scent sampling methods using gas chromatography-mass spectrometry have been used to measure t