The American Society for Testing and Materials International has listed Posco’s new high manganese steel as a world standard technology, according to the company’s press release Tuesday. ASTM International is a nonprofit standards development company that develops and publishes technical standards for materials, products, systems and services. A listing with the ASTM means that Posco’s creation of the world’s first-ever high manganese steel has been recognized as a material that can be utilized

A video that portrays SK Innovation’s business portfolio through marbling art on water hit 5 million views only 43 days after it was released on TV and online, the company said Tuesday.The petrochemical arm of SK Group, the nation’s third-largest conglomerate, produced the video in collaboration with Turkish artist Garip Ay, a master of ebru, or Turkish marbling.  (SK Innovation)The video drew attention for its use of ebru and its storytelling methods that minimized the use of words, but deliver

Three people were killed and two others seriously injured after a crane gave way at a construction site in Namyangju, Gyeonggi Province, on Monday.According to police, five workers fell from a 55-meter-tall, 18-ton tower crane at the Dasan New City apartment complex construction site northeast of Seoul, at around 4:40 p.m. Two workers were pronounced dead at the scene, while three others were seriously wounded.  A crane tower breaks at the Dasan New City apartment complex construction site in Na

This is an unofficial translation of President Moon Jae-in’s memorial address delivered on Tuesday at the eighth anniversary of the late President Roh Moo-hyun's death. -- Ed. President Moon Jae-in speaks at a memorial service for late former President Roh Moo-hyun in Bongha, Roh`s hometown, located 450 kilometers southeast of Seoul in South Gyeongsang Province, on May 23, 2017. (Yonhap)Eight years have passed, yet all of you here have ever stayed by President Roh Moo-hyun's side, and for this I

Growth of South Korea’s household debt slowed in the first quarter but its total balance still remained at a high level, data by the Bank of Korea showed Tuesday. Household credit grew by 17.1 trillion won ($15.2 billion), or 11.1 percent on-year, in the first quarter, slowing in pace from a 20.6 trillion won gain in the same period a year earlier. Among the 17.1 trillion won, 8.4 trillion won loans were extended by banks, credit unions and mutual savings banks. The rest came from ins

Neither Canada nor Japan cracked the top 10 and the United States finished a dismal 35th, according to a much anticipated ranking of health care quality in 195 countries, released Friday.Among nations with more than a million people, top honors for 2015 went to Switzerland, followed by Sweden and Norway, though the health care gold standard remains tiny Andorra, a postage stamp of a country nestled between Spain (No. 8) and France (No. 15).Iceland (No. 2), Australia (No. 6), Finland (No. 7), the

Telling someone a secret is an act of faith. Sharing intelligence with an ally is no different. By disclosing intelligence provided by a US ally to the Russian foreign minister and ambassador in an Oval Office meeting last week, President Donald Trump indicated that he cannot safely be trusted -- and caused profound damage to US national security.Every intelligence relationship has its rules and regulations. But, while written agreements are often part of the protocol, intelligence sharing isn’t

Since the term “Industry 4.0” made its debut in 2011, it has quickly gained attention across the globe. We have seen several transitions in the manufacturing process through the previous industrial revolutions, which gave birth to mass production and automation. Today, we are entering the Industry 4.0 era that represents another phase of automation, where computers and machines are equipped with artificial intelligence and can understand and control sudden problems in the production line with li

The combined assets of South Korea’s four leading conglomerates Samsung, Hyundai, SK and LG reached 864.9 trillion won ($774.3 billion) last year, up 33.5 percent from 647.6 trillion won in 2011. The proportion of these four groups in terms of total assets among the top 30 conglomerates in Korea also rose by 3.5 percentage points from 49.1 percent in 2011 to 52.7 percent.

To some South Koreans, Moon Jae-in’s swearing-in as the nation’s president was like the return of his late friend, mentor and predecessor -- the former liberal President Roh Moo-hyun.For those in support of the liberal administration, it was a long hoped for reinstatement of power. Dissenters, on the other hand, were cautious toward what they saw as the revival of pro-Roh hegemonism and divisive politics. Either way, there is little disagreement that Moon’s rise in power has rekindled the public