KB Financial Group announced Monday it has launched the “KB Innovation Finance Council” to provide investment and credit support to innovative startups as well as small and medium-sized enterprises.The council, consisting of 12 executive members from KB affiliates including KB Investments, KB Securities, and KB Kookmin Bank, has been created to “revitalize venture capital and innovative finance among startups and SMEs,” said the group.Outlining various ways the council wi

The Ministry of Food and Drug Safety said Friday it will look into some 20 imported drinks for glyphosate residue.The US Public Interest Research Group Education Fund revealed in a report in February that glyphosate had been found in 19 out of 20 brands of 15 popular beers and five wines tested there. Glyphosate is an active chemical ingredient found in Roundup, the herbicide produced by Monsanto. Under the classification from the International Agency for Research on Cancer, glyphosate is classi

Executives of Oriental Brewery, South Korea’s largest beer manufacturer, celebrated Earth Day this week by making products containing effective microorganisms and donating them to a volunteer center in Gangnam, the company said Thursday.On April 17, five days before Earth Day, some 20 OB executives gathered at a volunteer center to discuss “green survival,” which refers to the need for people to take action in order to pass down a healthy and green Earth to future generations.  OB CEO Bruno Cose

KMS, which specializes in internet of things solutions for fire safety and prevention, received the Presidential Award for its automatic fire-extinguishing system at the 11th Industrial Safety Awards this year, the venture company said Wednesday. (KMS)NAGA Fireguard is an IoT-based automatic fire-extinguishing sensor that allows real-time monitoring and prevention of fire. Installed in places that are often difficult to reach or dangerous, such as underground communal areas or high-voltage elect

Celebrating the 70th anniversary of the launch of South Korea’s state-run Public Procurement Service, the organization has placed special emphasis on creating a variety of opportunities for domestic companies, particularly the smaller venture firms and startups, to step up exports with innovative technologies.In an interview with The Korea Herald, PPS Administrator Jung Moo-kyung said his drive for innovative merging of technologies and active support from the organization on the occasion

Nexon Developer Conference, an annual convention for IT and gaming companies, will return this year from Wednesday to Friday at Nexon Korea’s headquarters in Pangyo Techno Valley, Gyeonggi Province.Well-known game developers and IT experts from around the world will attend the conference to share their experiences, key technologies, as well as insights, said Nexon Korea.Launched in 2007, NDC started out as an in-house event for game developers but turned into an open conference in 2011. Since th

Some 600 million Choco pies were sold in Vietnam last year, with sales reaching 92 billion won ($80.9 million), the highest recorded in Vietnam so far, Korean confectionary firm Orion said Wednesday.According to Orion, Choco pie sales in Vietnam surpassed sales in Korea last year at 83 billion won. It is the second country to have done so, with the first being China. Choco pie, chocolate-covered biscuits with marshmallow filling, was first introduced to Korean consumers in 1974. Its popularity g

GS Group Chairman Huh Chang-soo shared advice and new business strategies at an executive meeting Wednesday. Amid growing use of artificial intelligence, big data and shared economy, as well as the recent turbulence in South Korea’s corporate world, Huh took on a cautionary stance by encouraging his executives to remember the fundamentals and respond to changes with agility and flexibility.Huh Chang-soo, chairman of GS Group. (GS Group)“There are many cases where companies that were once leading

South Korean e-commerce company Coupang announced Monday its revenue for 2018 marked 4.42 trillion won ($4.1 billion as of the date of the report), posting 65 percent growth from the previous year.In its 2018 financial statements Coupang indicated that its operating deficit stood at 1.09 trillion won due mainly to its heavy investments. Throughout 2018, the company invested in its popular next-day delivery flagship service Rocket Delivery by expanding item selections from 2 million to 5 million

SK Innovation’s new public relations campaign “Imagination Into Reality” has gained 20 million views within 27 days of its launch, making it the fastest growing PR campaign by the company, SK Innovation said Wednesday. SK Innovation, an energy and chemical subsidiary of SK Group, released five 12-second videos last March to promote its philosophy and vision. The videos feature innovative technologies currently in the works at the company. (SK Innovation)Since the release, the videos have gained

Hyundai Engineering & Construction is now renting out luxurious apartments in the Pangyo district of Seongnam, Gyeonggi Province, according to the company on Thursday.The Hillstate Pangyo Lforet, which consists of three 20-floored luxurious apartment complexes from which buyers can choose between 11 different apartment types, is the first apartment complex in Pangyo to feature all large-sized apartments. Each apartment spans between 128 square meters and 162 square meters, according to the compa

South Korean music lesson franchise Premier Music has launched a new smartphone application for easier lesson management, the company said Thursday.The application allows parents and students to communicate more easily both with Premier Music teachers and the company, and at the same time provides features such as lesson schedule management and fee management.Premier Music values communication and thus has patented its music lesson management system to strengthen user satisfaction and work effic

For retro and futuristic vehicle fans alike, BMW Korea will have them covered with 29 new models showcased at the upcoming Seoul Motor Show, to be held in Kintex from Friday, the automaker said Tuesday.In line with BMW Korea’s slogan for the tradeshow -- “Connect with the future of BMW” -- BMW Korea will unveil its BMW i Vision Dynamics and concept model M8 Gran Coupe, displaying the future mobility and design direction of the auto giant. Also at the event, it will unveil for the first time in A

Automobile lovers in South Korea are about to be presented a feast for the eyes with a luxury crossover SUV built with a V8 supercharged engine and diamond-quilted leather interior.Jaguar Land Rover Korea will launch the Range Rover Velar SVAutobiography Dynamic Edition at the Seoul Motor Show, set to begin Friday at Kintex. The new Range Rover Velar SVA-D has been dubbed the top Velar model produced by Land Rover’s Special Vehicle Operations team. It is an optimized version of the existing Rang

(Yonhap)South Korean Transportation Minister Kim Hyun-mee (back seat) takes a ride on Waygo Blue at a launch event held in Seoul, Wednesday. Waygo Blue, a cab-hailing service, is the first collaborative platform launched by Kakao with Tago Solutions, an operator of cab services, since their grand consensus earlier this month following heavy confrontation over claims of business interference. Waygo Blue aims to prevent drivers’ rejection of customers based on destination, while educating drivers

(Yonhap)LG Electronics said Wednesday it will be releasing the LG PuriCare Mini Air Purifier, a portable air purifier, Friday. The air purifier certified by the Korea Air Cleaning Association is equipped with a PM1.0 sensor, Tornado Dual Fan and Dual Inverter. The device weighs 530 grams and can be charged with a USB type-C cable. Once fully charged, it can last for up to eight hours of usage and is advised to be used in small spaces around the user, like in a vehicle, the company said.

South Korea’s leading tire manufacturer, Hankook Tire, is currently ramping up its research and development efforts in hopes of becoming a world-leading maker of original equipment tires. Hankook Tire is known for supplying original equipment tires to many domestic and foreign automakers. Currently, the company supplies OE tires for models such as BMW’s flagship New BMW 7 Series and the Audi RS5 Coupe.It also recently signed a supply contract for the 2019 Nissan Altima, which will feature the co

LG CNS started its software teaching program LG CNS Coding Genius with 118 students from Shinil Middle School, Seoul, Thursday. A part of the company’s CSR activities aimed at inciting creativity and cognitive thinking among youths, LG CNS has been providing software education program for middle school students since 2017. The program has been taught for over 6000 students in 50 schools across the nation. Students from Shinil Middle School uses Lego robot cars to learn about self-driving technol

South Korea is the “clear leader” in the 5G National Leadership Index, ahead of the US, Australia, Switzerland and Finland, according to London-based global management consulting firm Arthur D. Little.ADL recently assessed 40 countries on leadership in the fifth-generation network, based on the availability of infrastructure and commercialization tendency.  KT CEO Hwang Chang-gyu delivers a keynote speech during the opening ceremony of 2019 MWC in Barcelona last week. KTAt the beginning of March

In response to the increasing popularity of car sharing, Hyundai Motor and Kia Motors announced Monday the development of a smartphone-based digital key that allows multiple users to start, operate and control a single vehicle with smartphones.The newly developed technology allows users to access vehicles without the need for a smart key. The digital key installed in a smartphone allows the driver total access to the car, and the feature will be implemented in upcoming car models, the company sa