Hanwha Energy Corp., a South Korean renewable energy company, said Friday it has launched a committee to beef up sustainable management in light of the Environmental, Social and Governance (ESG) principles. The ESG committee, established within its board, will serve as the company's key division tasked with devising and reviewing mid- to long-term objectives and strategies in line with the ESG factors, which refer to business behaviors and practices that determine a company's future sustainabi

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Friday that it has signed a 640.8 billion won ($542 million) deal to build four container carriers. Under the deal with a European country, DSME will deliver the vessels by November 2024, it said in a regulatory filing. In the first nine months, DSME posted $8.04 billion in new orders, surpassing its annual order target of $7.7 billion won. It is the first time for the company to achieve its annual order target since 2014, when the

Apple Inc. on Friday released its new smartwatch -- Apple Watch Series 7 -- in South Korea in the latest move to further boost its presence in the growing smartwatch market. The release came as the pandemic-driven stay-at-home trend and rising health concerns have fueled the popularity of smartwatches fitted with health care and fitness features. The latest Apple smartwatch comes with a 20 percent bigger screen and a 40 percent thinner body than the Apple Watch Series 6. Its battery runs for

Samsung Electronics said Friday that it has set a world record for 5G upload speed: 711 megabits per second. According to the South Korean IT giant, the feat was achieved in a recent trial conducted together with Verizon and Qualcomm in Texas. “For comparison, 700 Mbps is fast enough to download a 1 gigabit movie in 10 seconds. Multi-gigabit speeds have been recorded on downloads before, but this is the fastest speed the companies have been able to reach while uploading data to the net

Posco Chemical was chosen as the “Rising Star Company” at the 2021 Global Metals Awards, hosted by S&P Global Platts, the company said Friday. It is Posco Chemical’s first overseas award. “Posco Chemical has built a large, successful business in the lithium-ion battery market and forms a crucial part of Posco Group’s value chain integration for green mobility solutions. The company has a significant presence in the secondary battery materials business, which it

With the reorganization of global supply chains and accelerating digital transformation since the outbreak of the COVID-19 pandemic, securing cutting-edge technologies in fields such as artificial intelligence and semiconductors is becoming ever more crucial. In addition to investing heavily in technological development, countries around the world are strengthening protection of trade secrets and control of technological exports to prevent leaking their core technologies to rivals. The South K

KIPO commissioner vows to bolster support for SMEs in patent disputes overseas with ‘tech police’

Travel and leisure platform operator Yanolja said on Thursday that it will acquire a 70 percent stake in Interpark, one of South Korea’s first e-commerce platforms, for 294 billion won ($248 million). Following the announcement of the deal, Yanolja said it would enter the global tourism market with the new “growth engine.” “The international tourism market has been dominated by foreign platforms. The acquisition will see Yanolja enter the market as a South Korea company

Sustainability is a key trend in industrial design as Generation Z consumers prioritize conscious and valuable consumption when it comes to making purchases. The latest trend for those born between 1997 and the early 2010s, is not about being trendy, but about creating designs that people do not get sick of for a long period of time and thus leaving a smaller carbon footprint, said experts in industrial design who took part in the Herald Design Forum 2021 on Thursday. Benjamin Hubert, a Londo

A pair of Hogreen Air’s hydrogen drones fly across the sky at a park in Gwangju, Thursday, remotely controlled by operators 9,042 kilometers away in California’s Silicon Valley using the 5G network.  Hogreen Air said that with Thursday‘s experiment, it became the world’s first drone company to succeed in remote control of a drone over such a long distance.

Posco Chairman Choi Jeong-woo has been chosen to lead the executive board of directors for the World Steel Association, the South Korean steelmaker said Thursday. Choi, who is a member of the association’s executive committee, was appointed to lead the entity along with two other board members, during the annual conference held online on Wednesday, Posco said. The World Steel Association is one of the largest industry associations in the world, representing global steel producers, natio

Hyundai Engineering said on Thursday it has launched a new project to build e-learning infrastructure in the city of Balikpapan in Indonesia. The three-year Hello E-Dream Project will see the company team up with the Indonesian government and non-government organization Good Neighbors to improve the educational environment in the city. Marking the 11th project from Hyundai Engineering’s series of social contribution activities known as New Hope School, the latest move will focus on build

Jeju Air Co., South Korea's biggest budget carrier, said Thursday it will raise 127 billion won ($107 million) by selling stocks in preparation for the post-coronavirus era.  Jeju Air plans to issue 11.26 million shares at 18,350 won per share to employees and existing shareholders from Oct. 18-19 and list the stocks on the main Korea Exchange (KRX) on Nov. 19, the company said in a regulatory filing. "The planned rights issue is to secure operating capital as the country aims to g

At Net Zero Expo, Hanwha, Doosan, Posco, SK show how to make carbon neutrality a reality

Foreign-invested firms say technical regulations along with fair trade and labor laws are some of the biggest management challenges, the Korea Chamber of Commerce and Industry said on Wednesday. Nearly 1 in 2 foreign-invested firms based in South Korea said technical regulations such as certification, tests and inspection were the biggest challenge facing their business, according to a survey conducted by the KCCI with 252 foreign-invested companies. Technical regulations refer to administrati