HD Hyundai Heavy Industries, the world’s largest shipbuilder affiliated with HD Hyundai, said Thursday that it has developed the world’s first ammonia dual-fuel engine using a high-pressure direct injection system. The company recently passed the “type approval test” for its HiMSEN ammonia dual-fuel engine, which evaluates whether critical apparatuses installed on vessels meet mandatory requirements. The test was conducted at its Ulsan engine center and was attended by ke

South Korean chemical company OCI Holdings has ramped up its localization efforts in Malaysia, hosting a series of community-focused events in Sarawak, where it operates its solar PV polysilicon production, to boost its presence and support sustainable growth, the company announced Thursday. As part of its ESG commitment, the company held a badminton class on Sept. 29, led by Korea’s Olympics badminton champion Lee Yong-dae at Universiti Putra Malaysia’s Bintulu campus. With over 300

Private equity firm MBK Partners said Wednesday that it will not further raise the tender offer price for Korea Zinc Inc. amid intensifying competition for management control. MBK and Young Poong Corp. recently raised their tender offer price for Korea Zinc to 830,000 won ($617) and for Young Poong Precision to 30,000 won, as they aim to gain a controlling stake in the world's top zinc smelter. Young Poong Precision holds a 1.85 percent stake in Korea Zinc. "We cannot stand by as the c

After the July launch of Samsung Electronics’ Galaxy Ring, several tech rivals have jumped into the smart ring race. But rumors are rampant that Apple may have scrapped its long-held plan for its own ring possibly to focus on the Apple Watch. According to a recent Bloomberg report, Apple has no plans to release an Apple smart ring despite two decades of research into the product. "Apple isn't actively developing a ring and has no plans to launch one," the report said. &ldq

As South Korea moves to achieve its renewable energy goals by 2050, strategic partnerships and innovative technologies will be essential in overcoming existing challenges and maximizing the potential of renewable resources, according to Karen Bomber, chief commercial officer of the Energy Industries division of ABB, a Swiss-based multinational tech company specializing in electrification, automation and digitalization solutions. In an interview with The Korea Herald at ABB's Korea office in

SPC Group's bakery brand Paris Baguette has signed contracts to enter the markets of Thailand, Brunei and Laos, aiming to strengthen its presence in Southeast Asia. On Monday, Paris Baguette finalized a master franchising agreement with Berjaya Food, which has supported its expansion into Malaysia and the Philippines, to newly operate the bakery chain in Thailand and Brunei. As for Laos, a separate master franchising agreement was established with Kolao Group, a prominent local firm in the

SINGAPORE -- President Yoon Suk Yeol on Tuesday visited the highly automated Hyundai Motor Group Innovation Center Singapore, a car manufacturing facility powered by artificial intelligence and robots, on the sidelines of his state visit to the city-state. Yoon inspected the automated car manufacturing line that uses the "cell production" system in which a small team of human employees and robots is responsible for a specific assembly process. The factory operates 27 such cells. Accord

Samsung Electronics Chairman Lee Jae-yong on Monday put an end to the long-standing rumor that the memory chip giant might spin off its lackluster foundry business, saying he is still “hungry” for growth. “We are hungry to grow (our) business, not interested in spinning (it) off,” the Samsung chief told Reuters upon his visit to the Philippines. Regarding the delayed operation of the company's new foundry plant currently under construction in Taylor, Texas, Lee said,

Dentlink intends to become a household name in the burgeoning dental prosthetic market, matching the fame of Align Technology, the US company behind the Invisalign clear teeth straightener, said Kook Jin-hyeok, founder and CEO of Innovaid. Kook founded Innovaid in 2021 to offer Dentlink, a unique international service connecting Korean lab technicians with overseas dental practices. Through it, dental clinics around the world can order prostheses such as zirconia crowns and implant restorations

LG Electronics on Tuesday expected its third-quarter sales to reach an all-time high of 22.17 trillion won ($16.5 billion), outpacing an earlier market consensus of 21.77 trillion won. But its operating profits during the same period were estimated to have plunged nearly 21 percent to 751.1 billion won from a year ago, largely due to rising logistics and marketing costs. The earnings guidance was far lower than market expectations. FnGuide, a local market intelligence firm, projected the compa

Samsung Electronics predicted Tuesday that its operating profit for the July-September period would miss market expectations due to a slow recovery in memory demand and the lackluster performance of High Bandwidth Memory chips used in artificial intelligence computing. Samsung's third-quarter operating profit is estimated to hit 9.1 trillion won ($6.76 billion), up 274.5 percent from a year ago, according to the company’s earnings guidance. The figure is lower than the 10.77 trillio

Korean travel platform operator Yanolja said Tuesday that it is ramping up global efforts to enhance its artificial intelligence-based travel solutions by securing extensive travel data. Its data solutions affiliate Yanolja Cloud Solution has recently relocated its headquarters to an information technology hub in Surat, India, to recruit local tech talent and advance its travel solutions. The decision comes as the Indian unit plays a key role in collecting travel data from numerous transactions

Following the US and EU’s efforts to curb the flow of "underpriced" Chinese steel, South Korea has launched an anti-dumping probe into imports of Chinese-made heavy steel plates. The Korea Trade Commission under the Ministry of Trade, Industry and Energy announced on Friday that it initiated an investigation against the Chinese steel suppliers, including Shagang Group. The steel products in question, sheets 6 millimeters thick or more, are primarily used in shipbuilding. After a

South Korean biotech firm SK Bioscience said Tuesday it has invested $3 million in the US-based biotech firm Fina Biosolutions to acquire a stake in the company as part of the company’s broader strategy to secure next-generation vaccine technologies and enhance its global competitiveness in the vaccine market. Founded in 2006, Fina Biosolutions specializes in conjugate vaccines widely used in vaccines to prevent illnesses such as pneumonia, meningococcal disease and typhoid. The company is

Prosecutors on Monday raided the residence of Namyang Dairy Products Co.'s former chairperson and the company's headquarters as part of an ongoing investigation into embezzlement allegations. Investigators from the Seoul Central District Prosecutors Office raided more than 10 locations, including former Chairman Hong Won-sik's home. In August, the company filed a complaint against Hong and three other former company officials, accusing them of allegedly embezzling company funds of

Laughter and cheers from parents filled the air during the Balance Bike Race With Yamaha Motor, part of the inaugural Wellness Seoul 2024 held at Sebitseom Banpo along the Han River in southern Seoul on Sunday. The event, designed for children aged 3 to 5, allowed them to race on pedal-less bicycles, helping them develop balance and enjoy the thrill of riding on two wheels before transitioning to traditional bikes. On the other side, teenagers had the opportunity of minibike riding. Big smiles

In celebration of the health, mindfulness, and well-being of global citizens, Herald Media Group hosted Wellness Seoul 2024 on Sunday, a day-long festival held by the Han River in southern Seoul. Despite the cloudy weather, more than 10,000 participants filled the main venue and surrounding area all day long. Under the shared vision of "Creating A Life Of Wellness," the opening ceremony featured Seoul Mayor Oh Se-hoon, Olympic marathon gold medalist Lee Bong-ju, Daewoo E&C Chairman

Korean electrical equipment manufacturer LS Electric announced a partnership with Kyudenko, a Kyushu Electric Power Company subsidiary, to enter Japan’s growing battery energy storage system market. The two companies signed a memorandum of understanding at the Grand InterContinental Seoul Parnas Hotel on Sunday, with LS Electric Chairman Koo Ja-Gyun and Kyudenko Vice President Masaaki Jono in attendance. Kyudenko, based in Fukuoka, is a major player in Japan’s electrical construction

A diverse range of institutions -- from medical experts and ESG-focused companies to art students and pet care providers -- engaged visitors through interactive booths at Wellness Seoul 2024, offering a blend of health, creativity and eco-friendly initiatives aimed at inspiring a higher quality of life for all. Among the most popular booths was that of the Seoul Korean Medicine Association, a community of Korean medicine doctors based in Seoul. The doctors provided on-site consultations and offe

Samsung Electronics Chairman Lee Jae-yong visited the production base of multilayer ceramic capacitors for Samsung Electro-Mechanics, the electronic parts manufacturing affiliate of Samsung Electronics, in Calamba, Philippines, Sunday, according to the tech giant on Monday. The chairman reviewed business strategies and stressed the importance of taking advantage of opportunities arising from expanding markets such as artificial intelligence, robots and electric vehicles. Lee also discussed futur