SK Group announced Sunday that the total social value generated by its key affiliates last year was 20.5 trillion won ($15.6 billion), up 1.6 trillion won or 8.6 percent from the previous year. Social value refers to the degree to which companies have contributed to solving or alleviating social problems facing stakeholders. The nation’s second-largest conglomerate has unveiled the value of its social impact every year since 2018. Economic contribution, consisting of employment, dividends

Hyundai Elevator announced Thursday that it has launched an advanced elevator maintenance service, called Miri, which integrates the Internet of Things, artificial intelligence, big data and robotics technologies. The new Miri, which means “in advance” in Korean, reflects the company’s commitment to providing the best customer satisfaction, the company said. Hyundai Elevator held the launch event at its smart campus in Chungju, North Chungcheong Province, with CEO Cho Jae-cheon

South Korean builder Hyundai Engineering & Construction announced Thursday that it will begin pre-sales of its Hillstate Sunhwa the Wise – a residential and commercial apartment complex in Daejeon, some 160 kilometers south of Seoul. The complex consists of five 49-story buildings with a total of 851 units. The builder plans to offer the first installment deposit fixed at 10 million won ($7,500) and an interest relief guarantee to the contract holders. The complex, among others, boasts

SK Networks' US investment subsidiary, Hico Capital, announced Wednesday that it will pursue a partnership with global venture capital firm Bow Capital as part of efforts to nurture promising startups and bet on their growth potential. The latest partnership comes after their top executives, including SK Networks President and Chief Operating Officer Choi Sung-hwan and Bow Capital Chairman Vivek Ranadive, held a meeting in Silicon Valley on Tuesday (local time). During the meeting, the two

Mirae Asset Global Investments said Friday that it held a gathering of executives worldwide to discuss the asset manager's future direction in the global exchange-traded fund business and to evaluate the current status of each market. With 70 CEOs and chief investment officers of Mirae Asset's overseas subsidiaries in attendance, ETF Rally 2023 took place from Monday to Wednesday in Seoul and Hongcheon, Gangwon Province. During the event, the executives introduced the ETF business in e

South Korea’s second-largest steelmaker said Friday that it has obtained a low-carbon product certification for its flagship H-beam steel product from the Ministry of Environment, the first to do so in the domestic steel industry. With the latest attainment, Hyundai Steel has secured Environmental Product Declaration certifications for a total of 13 products and a low-carbon product certification for one item. Low-carbon product certification is granted to products with carbon emissions be

Renault Korea Motors seeks to lure tech-savvy young drivers with its digital campaign “Create Your SM6,” the Korean unit of the French auto giant said Wednesday. The carmaker offers an artificial intelligence-based design tool, called Stable Diffusion, for participants to create their own SM6 sedan car and submit the image as a non-fungible token to win digital coins. Based on the car’s highest-trim model Inspire, almost 14,000 NFTs have been submitted ahead of Friday’s d

South Korean internet giant Kakao Corp. announced Tuesday that it held talks with officials from the Saudi Tourism Authority on building mobile infrastructure to revitalize tourism in Saudi Arabia at the Kakao headquarters in Pangyo. Top executives from both sides, including STA’s President of APAC Markets Alhasan Aldabbagh, and STA’s Chief Technology Officer Choon Quek attended the meeting. Saudi Arabia has selected Korea as one of its strategic partners by presenting the "Saud

South Korean steel giant Posco said Tuesday it has won three medals for new stainless technologies at the Stainless Steel Industry Awards held by Worldstainless, a non-profit international association, earlier this month in Brussels. The company touted the latest feat as yet another recognition of its technical prowess following its gold medal win at the same awards last year. This year Posco was the only company to win all three medals -- gold, silver and bronze -- in the new stainless technolo

South Korean food and beverage manufacturer Dongsuh Foods announced Monday it will operate an Oreo pop-up store in Seongsu-dong, Seoul, until June 18 to mark Oreo Day on May 25. Commemorating Oreo’s 111th anniversary since its launch in 1912, the pop-up store is designed to give consumers a different experience of the brand, celebrating the achievement of becoming the world's No. 1 cookie. The pop-up store consists of a total of three spaces: the Welcome Zone, the Connect Zone and the

LG Group said Sunday that it awarded the first LG Guggenheim Award to Brooklyn-based artist Stephanie Dinkins, at a ceremony held in New York, Friday. The LG Guggenheim Award is an extension of the LG Guggenheim Art and Technology initiative, a five-year joint project from the Guggenheim and LG to honor, research and promote artists combining technology and art in their works. Dinkins, an art professor at Stony Brooks University, has emphasized the importance of fairness and equality in the digi

Kumho Tire announced Thursday it has successfully sponsored the opening race of the Touring Car Racing World Tour, a renowned motorsport competition promoted by WSC Group that took place April 29-30 at the Algarve International Circuit in Portugal. Signing a three-year title sponsorship deal with WSC last February, Kumho sponsored all the racing tires in the drivers’ cars for the competition, leading to dynamic races. Prestigious carmakers such as Audi, Honda and Hyundai Motor have shown t

The Formna, a South Korean online retailer, announced Thursday it is launching the 2023 BTS Permission to Dance Spring Sandals in July through an official licensing agreement with Hybe, the K-pop agency behind the global sensation. According to the Formna, the BTS-themed sandals, in both black and white versions, will be produced in collaboration with Noitavonni, a Korean shoemaker specializing in health care shoes. The company’s air cushion patents have gained approval from the US Food an

South Korean general trading firm STX said Wednesday it has won an order to produce two 500-ton maritime patrol ships worth a combined $36 million for the Peruvian government. Having already supplied a total of six maritime patrol ships since 2013, STX said it is securing a firm footing in the Peruvian defense market. The upcoming diesel-powered seventh and eighth ships – 56.4 meters long and 8.5 meters wide each – have a maximum speed of 23 knots or 42.6 kilometers per hour. Equippe

South Korean telecommunications giant KT announced Sunday that it will push forward a non-face-to-face health care project in Vietnam involving health examination centers and artificial intelligence in medical fields. The company plans to conduct a pilot service for cancer and chronic disease patients using a remote care platform with KT Healthcare Vina, a Vietnamese medical corporation established earlier this year. Post-discharge management of gastric cancer surgery patients and health care ma

South Korean automaker Hyundai Motor captured more than half of the global hydrogen fuel-cell vehicle market in the first quarter, according to energy market tracker SNE Research on Thursday. A total of 3,737 hydrogen fuel-cell vehicles were sold worldwide in the first three months of 2023, up 4.5 percent on-year. Among manufacturers, Hyundai Motor sold a total of 2,042 vehicles, of which it sold 2,013 units of the Nexo -- an 19.8 percent increase on-year. Hyundai’s market share increased

Korean solar energy company Hanwha Q Cells said Wednesday it secured the top position in the US solar module market both for residential and commercial uses last year. The company took up 33.7 percent of the residential module market, cementing its No. 1 ranking for five consecutive years, according to market tracker Wood Mackenzie. Its share in the commercial module market was 17.7 percent, topping the list for four years in a row. Hanwha Q Cells' flagship solar panel series, "Q.peak

Seo Jung-jin, the founder and chairman of South Korean biopharmaceutical firm Celltrion, made an official apology to its shareholders regarding the controversy over his children born out of wedlock via a statement posted on Celltrion’s official website on Monday. “Though my personal issues released through the media may not all be true, I sincerely apologize for causing an irreparable disappointment to our shareholders with my past follies and reckless behavior,” the statement

Hana Financial Group said Monday it has signed a memorandum of understanding with Taiwan’s banking giant, CTBC Bank, to seek business expansion in overseas markets. Under the new partnership, Hana and CTBC plan to support their overseas branches to expand businesses and optimize profits, as well as to discover new business opportunities together in various fields, including corporate finance and investment banking. They also agreed to share business know-how to increase their assets furthe

KB Financial Group announced Tuesday that it will host an event on Thursday to invite key figures in the global financial industry to present its businesses and growth strategies while looking for collaborative opportunities. The banking giant's cocktail reception, which will take place in Songdo, Incheon, is designed to promote the excellence of Korean finance and KB Financial's business competitiveness on the occasion of the 56th Annual Meeting of the Asian Development Bank held in I