Doosan Solus stocks rose to 49,400 won ($44.70) on Friday, a 6.7 percent increase from a day prior, following a local news report that the company is in talks with Tesla to supply copper foil for electric vehicles in Europe. According to the news report, the material solutions unit of Doosan Group is expected to sign an agreement on general terms and conditions to provide copper foil for Tesla electric vehicles in Europe. The exact size and the length of the contract will be decided after th

Korea Gas Corp. said Thursday it has successfully carried out the world’s first ship-to-ship liquefied natural gas bunkering test, which examines whether an LNG carrier works properly before it begins commercial operation. LNG bunkering is the process of transferring gas to a ship. On Tuesday, after loading 2,000 metric tons of LNG at Tongyeong in South Gyeongsang Province, Kogas’ LNG carrier SM Jeju LNG2 entered the Okpo Shipyard of Daewoo Shipbuilding & Marine Engineering

Hanwha Systems said Friday it has won a deal worth 45 billion won ($40.7 million) to develop a next-generation space radar that can detect and track space objects with precision. According to the defense and information technology service unit of Hanwha Group, it has won the Defense Industry Technology Center’s research and development project for the space radar worth 45 billion won. For the next five years, Hanwha Systems will develop three core technologies including the precise d

Netflix confirmed Thursday that it has established a branch office in Korea named Netflix Entertainment Korea to double down on its commitment to original content produced here. Launched in September, Netflix Entertainment Korea is responsible for content discovery, support and investment, while the existing Netflix Services Korea will carry on its overall service operation in the country. Netflix has run separate content branches in countries where the performance of original content is p

Hyundai Motor Chairman Chung Euisun on Wednesday held a meeting with Lotte Group Chairman Shin Dong-bin at Lotte Chemical’s advanced materials plant in Uiwang, Gyeonggi Province, according to news reports Wednesday. The two chiefs reportedly discussed how to apply Lotte Chemical’s new materials under development to Hyundai Motor’s future eco-friendly vehicles such as electric vehicles and hydrogen vehicles. However, neither Hyundai Motor Group not Lotte Group officials said

South Korean game company Smilegate said Wednesday it has donated 50 tablet PCs worth 30 million won ($27,100) to eight youth institutions, providing the tools for students from low-income households to take online classes amid the coronavirus outbreak. For the donation, Smilegate Foundation’s Hope Studio collaborated with SundayToz, a Korean mobile game developer. After launching a donation campaign among users of its popular puzzle game Anipang 4, SundayToz raised 30 million won, which

LS Group has kicked off a new era of management by promoting third-generation successors as CEOs. In the annual reshuffle conducted during a board meeting Tuesday, LS Group promoted Yesco Holdings Vice President Koo Bon-hyuk to president and CEO. LS Mtron Vice President and Chief Operating Officer Koo Bon-kyu was promoted to CEO. “LS Group retained CEOs of major affiliates including LS Cable & System, LS Electric and LS-Nikko Copper for the stability of the organization but appoi

GOYANG, Gyeonggi Province -- From Iraqi commander to Filipino admiral, the 4,000-square-meter hall was packed with high-ranking military officials wandering around some 200 booths where state-of-the-art weapons and systems were displayed by global defense companies from about 20 countries around the world. At DX Korea 2020 -- a military expo held at Kintex in Goyang, Gyeonggi Province, just northwest of Seoul, on Nov. 18 -- Korean Army officials were greeted by public relations officials, ready

LS Cable & System said Tuesday that it has inked a five-year contract with Danish energy firm Orsted to supply high voltage export cables for offshore wind farms. Though the exact size of the deal is unknown, it is estimated at hundreds of millions of dollars, according to industry sources. LS Cable & System has participated in multiple offshore wind projects with Orsted. Previously, it supplied cables to the world’s largest offshore wind farm, Hornsea One and Two, in England.

Danish energy firm Orsted on Tuesday held a forum to explain how its 1.6-gigawatt offshore wind farm project to be built in the waters off Incheon can contribute to South Korea’s infant offshore wind power industry and the country’s ambitious green targets. At the Orsted 2020 Offshore Wind Industry Promotion Forum held at Conrad Seoul, in Yeouido, western Seoul, Orsted Asia-Pacific President Matthias Bausenwein said that the Incheon offshore wind project will offer massive opport

Google on Monday delayed its policy to charge a 30 percent commission on payments made via the Google Play Store as South Korean app developers geared up for a legal battle against the US tech giant. According to an online notice posted by Google in the afternoon, it pushed back its plan to enforce the obligatory in-app purchasing policy for newly registered apps to Oct. 1 from Jan. 20. Google has recently come under fire from Korean lawmakers after it decided in September to push forward wi

US President-elect Joe Biden’s ambitions to curb carbon emissions are set to bring significant changes to the economic landscape for South Korea’s exporters. During his campaign, the 77-year-old Democrat said he wanted to introduce a border carbon adjustment mechanism. The scheme would impose a tax on carbon-intensive imports from heavy polluters such as China, leveling the playing field for producers in advanced countries that pursue rigorous environmental standards. Simultane

After a major regulatory setback in China, Nexon is striving to turn things around in other regions by releasing a new first-point-shooter game that offers a twist on Krafton’s PlayerUnknown’s Battlegrounds, a battle royale shooter that pits 100 players against each other. According to the South Korean game company Monday, its Stockholm-based subsidiary, Embark Studios, is developing a brand-new team-based multiplayer shooting game that will allow Nexon to target the North American

Oriental Brewery said Monday it will brew beer with solar power to pursue RE100, a global initiative to source 100 percent of electricity consumption from renewable energy sources. According to South Korea’s largest beer maker by revenue, it signed a memorandum of understanding with Kepco Energy Solution and Aeonus to construct solar power generation facilities that will supply clean electricity to three OB beer factories in Gwangju, Cheongju in North Chungcheong Province and Icheon in Gy

GS Inima Environment said Sunday it has won an overseas desalination project worth 2.3 trillion won ($2.1 billion) in Oman, the biggest in the company’s history. According to the Spain-based water processing subsidiary of GS Engineering & Construction, it received a letter of award from Oman Power & Water Procurement Company to conduct two independent water projects -- the third phase desalination project at Al Ghubra desalination plant and the fifth phase project plan in Barka.

YEONGDEOK, North Gyeongsang Province -- Golden rays of sunlight pierced through the chunks of cotton clouds to shine across 24 giant wind turbines atop a 200-meter-tall hill. The three blades jutting from each of the 1.65-megawatt wind turbines rotated clockwise at full throttle, powered by the sea breeze from the coast of Yeongdeok, North Gyeongsang Province. “In the winter season from November to February, Yeongdeok Wind Farm is in full operation as strong winds from the northwest b

GS Caltex on Wednesday launched its new brand, Energy Plus, to roll out a new type of gas station that can function conventionally and serve as a mobility and logistics hub. According to the South Korean refinery, the company opened Energy Plus Hub in Seocho-gu, Seoul, as the first pump station under the new brand Energy Plus, which can charge electric and hydrogen vehicles and serve as a car-sharing platform and logistics hub for drone shipping. “GS Caltex will continue to transform

Netmarble on Wednesday launched its massively multiplayer online role-playing game Seven Knights 2 in Korea, drawing attention to whether the much-anticipated game will be able to compensate for the company’s lackluster performance in the third quarter. As a sequel of Seven Knights, launched in 2014, Seven Knights 2 continues on the plot lines of the previous work and offers a story that players can consume like a movie. The mobile MMORPG showcases 46 heroes, and players control a gro

The competition to win Dukovany nuclear power plant deal in Czech has been narrowed down to five candidates including Korea Hydro & Nuclear Power after France-Japan consortium ATMEA dropped out of the race. According to industry sources Tuesday, Czech power utility CEZ held the second round of talks at the turn of October with five candidates willing to become suppliers for the construction of the Dukovany nuclear power plant. The five candidates include KHNP, China’s CGN, France

Employees of Kakao Games netted 16.7 billion won ($15 million) in gains by exercising stock options after the games unit of Korea’s mobile giant Kakao successfully debuted on the Kosdaq market in September. According to a regulatory filing Tuesday, a significant number of Kakao Games employees exercised stock options to purchase 473,678 shares at the average price of 13,000 won on Sept. 23, two weeks after the company went public. In total, the employees spent 6.3 billion won to buy the