South Korea ranked second to last in terms of the percent of women in management positions among 36 countries in the Organisation for Economic Co-operation and Development (OECD), according to OECD statistics released Wednesday. The OECD said Korea has reported steady progress in elevating women leaders but still has a long way to go. The percentage of female managers in Korea was 16.3 percent as of 2021, less than half the OECD average of 33.7 percent. Japan with 13.2 percent was the only count

Samsung Electronics said Tuesday its retail store brand Samsung Digital Plaza will be renamed as Samsung Store from Wednesday – the first revamp since the brand was launched in 2000. In addition to some 360 retail stores nationwide, all shops within department stores and large supermarket chains will also carry the new name, the company said. Samsung said the rebranding aims to liven up its corporate image by focusing more on younger brand names such as Galaxy, Bespoke, SmartThings and Lif

South Korean confectionery company SPC Samlip said Monday it has signed an agreement with Siam Makro, an affiliate of Thailand’s largest conglomerate CP Group, to make a foray into the Thai bakery market. This is the first time that the Korean firm has teamed up with a local company for overseas operations. Under the agreement, the two companies will set up a joint venture for both production and distribution of bakery products in Thailand and push for other related projects together. Siam

Korean restaurant chain operator Open Corp. said Friday it has recruited a seasoned sommelier as its new executive director to provide premium F&B services. With Kim Hyup taking office, the firm plans to foster some 300 sommeliers through internal employee training. "The company's goal in 2023 is to provide better service to many customers who enjoy gourmet culture. As a result, we will be reborn as a dining company that delivers satisfaction to customers through the largest sommel

SK Ecoplant announced Wednesday that it has completed construction of its e-waste and waste battery recycling base in Las Vegas, through its overseas subsidiary TES. The 3,700-square-meter IT asset disposition plant in Las Vegas is TES' fourth US base, following others in Seattle, Atlanta and Fredericksburg, Virginia. IT asset disposition mainly refers to the complete destruction of information stored in IT assets, ranging from smartphones to data center equipment. TES is developing ITAD as

South Korean vegan cosmetics brand Siita said Thursday that it has been recognized as one of the first zero waste companies globally by a sustainable fashion and lifestyle platform affiliated with the United Nations. The Conscious Fashion and Lifestyle Network is an UN-hosted online platform for industry stakeholders, NGOs, and governments to seek collaborations and report progress for the implementation of the Sustainable Development Goals. Siita was introduced as one of the model cases that ha

South Korean builder Hyundai Engineering & Construction said Monday that the builder's new rental apartment complex Hillstate DMC Station boasts a convenient location as it is located near the DMC Subway Station and other landmark facilities in the neighborhood. Hillstate DMC Station will consist of two 36-story apartment buildings housing a total of 299 households in Jeungsan-dong, Eunpyeong-gu, northern Seoul. Adding up to its proximity to a subway station, which is considered a key m

Kumho Tire announced Monday that it signed a title sponsorship deal for the Kumho Touring Car Racing World Tour with WSC Group in Lugano, Switzerland, Thursday. The South Korean tire maker plans to supply tires for all the vehicles competing in the 2023 TCR World Tour, an international touring car championship for TCR cars promoted by WSC Group. The Kumho TCR World Tour will be held at locations in Portugal, Belgium, Italy, Hungary, Uruguay, Argentina, Australia and Macao. In particular, the Bel

Woori Financial Group said Friday its sustainable management efforts have won recognition at the 2023 Korea Green and Climate Award hosted by the National Assembly Forum on Climate Change. The award, which marks its 13th anniversary this year, is one of the highest honors given to organizations or individuals that make a meaningful contribution to creating a sustainable society by setting an exemplary case. Under the slogan “Good Finance for the Next,” Woori Financial has set net-zer

Swiss premium knife brand Victorinox said Sunday it has released the Alox Limited Edition 2023, a lime-colored spring edition of its popular Swiss Army Knife. The knife made in Switzerland, also widely known as the MacGyver knife, is a timeless design icon frequently featured in contemporary art. The company introduces an Alox edition knife every year with a different theme. Alox is a transparent coating using aluminum oxide that enhances the durability and strength of the knife. This year&rsquo

South Korean commodities trader Posco International said Thursday that it has won gas mine exploration rights in Indonesia as part of efforts to beef up energy and resource businesses. A consortium involving the Korean firm and Indonesia’s state-owned Pertamina Hulu Energy gained the rights to explore and operate the Bunga gas block off the eastern Java island. The two will each own a 50 percent stake in the project, while Posco International will hold the operational rights. The Bunga gas

Posco International, a commodities trader affiliated with South Korean steel giant Posco Holdings, said Tuesday that it is eager to take part in reconstruction projects in Ukraine after the war to help the country rebuild. The Posco unit is the only Korean company that has maintained its business operations in the war-torn country since the onset of Russia’s invasion on Feb. 24 last year. It operates a grain terminal in the southern city of Mykolaiv, about 480 kilometers away from the Ukra

SK Signet, a South Korean manufacturer of electric vehicle chargers, said Monday it had recently won its first supply deal in Europe, worth 10 billion won ($7.7 million), through a regional subsidiary. The establishment of SK Signet’s European subsidiary, SK Signet Europe, was announced at the CES trade show in January. Based in Germany, the local office aims to create sales and partnership opportunities in the region’s top five EV markets, Germany, the UK, Italy, France and Spain. T

SK geo centric, a chemical business subsidiary of SK Innovation, announced Friday it will build a plastic recycling plant jointly with French partners in Saint-Avold, northeastern France. The SK subsidiary said it has selected the plant site together with Suez, a French water and waste management company, and Loop Industries, a Canadian plastic recycling technology company. "We are happy to achieve a meaningful milestone in selecting a site for our first plastic recycling plant in Europe,&q

Korean Air Chairman and CEO Walter Cho has been selected as the top aviation leader of the year by global aviation magazine Air Transport World, the nation’s flag carrier said Wednesday. “Since taking the helm at Korean Air in 2019, Walter Cho has rapidly gained a worldwide reputation for industry vision and dynamic management. His nimble and out-the-box thinking, particularly with regard to airline partnerships – especially the transpacific joint venture with Delta Air Lines &

Hanlim Architecture Group, a comprehensive real estate service company, announced Tuesday it has established the joint venture Hanlim Cambodia HS Global together with Cambodia's Saison Group. The opening ceremony of the venture was held Friday at the office located within Amass Central Tower in Cambodia's capital, Phnom Penh. Cambodia-based Saison started as an operator of a seafood restaurant chain in 2010. More recently it has carried out diverse infrastructure development projects.

LG CNS said Tuesday it has launched a new research platform, called Quinoa, to allow users to conduct surveys more easily and check and share results via mobile devices. The name comes from the superfood grain of the same name to represent “small but meaningful thoughts and opinions that come together to offer insight about the world.” Anyone who registers for membership can use the mobile application free of charge. The mobile application is available at both Android and Apple'

Korean conglomerates have been rushing to send equipment and financial aid to Turkey and Syria to support disaster relief efforts after a devastating 7.8 magnitude earthquake on Feb. 6 that has so far left more than 33,000 people dead, and several thousands injured and in critical condition. Samsung Memory chip and smartphone maker Samsung Electronics has pledged to donate $3 million to support relief efforts in Turkey and Syria. Half of the amount will be donated to the Disaster and Emergency

Renault Korea Motors’ XM3 E-Tech Hybrid has been named the Hybrid SUV of the Year at the Car of the Year event hosted by the Korea Automotive Journalists Association, the carmaker said Sunday. The XM3 has so far won three awards at the event, following two wins last year for Small SUV of the Year and Design of the Year. Produced at the carmaker’s Busan plant and exported around the world, the XM3 is a global project led by researchers at Renault Technology Korea. The coupe-type SUV

South Korean defense firm LIG Nex1 announced Thursday that it has signed a memorandum of understanding with Romania's state-run defense company Romarm as it seeks to export its anti-aircraft missiles to the European country. Lee Hyun-soo, LIG Nex1’s overseas business manager, and Florentina Micu, president of Romarm, signed the memorandum in Bucharest, the capital city, with Romania's Economy Minister Florin Marian Spartaru and South Korea’s Ambassador to Romania Rim Kap-so