LG Chem, South Korea's premier battery materials producer, announced on Sunday that it would venture into the lithium-phosphate-iron, or LFP, business by constructing a plant with Huayou Group's subsidiary, Youshan. The two companies will build a LFP cathode material plant in Morocco, a region rich in phosphate rock reserves essential for LFP production. Set to be operational by 2026, the plant targets an annual output of 50,000 metric tons, sufficient for around 500,000 entry-level el

The Financial Supervisory Service, South Korea's primary financial regulatory body, has issued management advisories to the National Federation of Fisheries Cooperatives after losing approximately 50.1 billion won ($37.5 million) it poured into an alternative high-yield overseas investment, as revealed by industry sources on Sunday. The NFFC, the umbrella organization for regional fishers' cooperatives throughout the country, reportedly lost the entire principal amount of its investmen

HD Hyundai Infracore, the construction equipment arm of HD Hyundai, revealed the future of construction technology at Boryeong Proving Ground, a mock construction site in Boryeong, South Chungcheong Province on Wednesday. The company showcased their second-generation Concept-X equipment, an update following the introduction of the first generation in 2019. Concept-X represents the company's concept integrated IT-driven construction management system. This system employs drone 3D scanning to

South Korean chemical and battery materials manufacturer Posco Future M announced on Tuesday that it has obtained the ISO 37301 certification, a global standard for compliance management systems, potentially reinforcing the company’s global credibility as a supplier of battery materials. It is the first company in the domestic battery materials sector to achieve this certification, which could give it a strategic advantage amid its recent expansions and partnerships with international batt

Construction and engineering firm Posco Eco & Challenge unveiled on Tuesday a new vision to multiply its corporate valuation tenfold by 2035, zeroing in on its renewed commitment to spearheading growth in the eco-friendly space. Under the vision, it is aiming to reach 25 trillion won ($18.9 billion) in sales and 2 trillion won in operating profit by 2035, which would help boost its corporate value, the firm said. “Using Posco E&C's sturdy foundation as the bedrock, we are layi

South Korean battery maker LG Energy Solution said Tuesday it has raised $1 billion worth of global green bonds to finance its global production facilities. It marks the company's first foray into the global green bond market. Green bonds are bonds specifically designed to provide capital to industries and projects combating climate change, including batteries, an alternative to fossil fuels. This $1 billion bond comprises two portions: $400 million set to mature in 3 years and the remainin

Korean chemical and textile company Kolon Industries said Monday that its two spunbond nonwoven fabric products, Finon and Finon Eco, were certified by the international standard for Environmental Product Declaration, a first within the industry here. The company said it also received endorsements from two European certification bodies -- the EPD International AB in Sweden and the DP Norge in Norway. The EPD system provides a comprehensive assessment of a product's environmental impact. It

This April, tragedy narrowly averted a GS Construction Consortium’s apartment construction site in Geomdan New Town, Incheon. The upper layers of an underground parking garage, designated as a children's playground, gave way, triggering a chain collapse. While no casualties were reported as the accident happened late at night, the subsidence revealed a grim scenario had it occurred post-completion. A month later, GS Engineering & Construction, the builder, admitted to omitting ste

South Korean chemical giant LG Chem said Thursday it is teaming up with Eni Sustainable Mobility, the Italian renewable fuel specialist, to build a hydro-treated vegetable oil (HVO) plant by 2026. They plan to finalize the investment decision by 2024 following a thorough feasibility analysis covering technical and economic aspects. The biorefinery is expected to have a production facility with an annual output of nearly 300,000 metric tons. This facility is slated to be located at LG Chem's

Hanwha Aerospace said on Thursday that its multipurpose uncrewed vehicle, Arion-SMET, will be tested at a US Marine Corps facility in Hawaii in December for potential integration into the US Army. This marks the first time a Korean-made vehicle of this type will undergo such testing. It is part of Hanwha's efforts to solidify its stature in the global aerospace and defense market by 2030. The testing follows Hanwha's recent contract with the US Department of Defense to join the Foreign

Applied Materials Korea, a subsidiary of the global leader in the materials science and engineering industry, has been named one of South Korea’s Premier Employers by The Ministry of Employment and Labor. This is the third time the company has received this honor, after 2020 and 2022. The ministry made the announcement at an event held on Monday at its regional office in Seongnam, Gyeonggi Province. The Premier Employers Initiative celebrates businesses that provide top-tier job opportunit

Hyundai Engineering and Construction on Monday announced a strategic equity investment in the energy tech startup 60Hertz, marking its foray into the emerging electricity brokerage market, part of the company’s larger strategy to solidify its position in new energy initiatives. Hyundai E&C's partnership with 60Hertz aims to launch Korea's first integrated IT platform for energy trading, fostering an IT-driven ecosystem to automate transactions between electricity producers an

The evolution of generative AI must equally weigh up technological, ethical and regulatory complexities, said Richard Yonck, an American futurist with over 25 years of experience in computer systems and program analysis. Yonck expressed concerns over the mounting global enthusiasm for AI while sharing insights on the challenges of cultivating a localized AI ecosystem in South Korea in a recent interview with The Korea Herald. "The pressure to yield immediate results is tangible, especially

Samsung Group, South Korea’s top conglomerate, announced Sunday that its official recruitment in the latter half of this year will start Monday, with 20 affiliates joining the massive hiring drive. The key affiliates include Samsung Electronics, Samsung Display, Samsung Biologics, Samsung SDS and Samsung SDI, among others. Applicants are required to submit their credentials via Samsung’s official recruitment website from Sept. 11 to 18. The months-long process includes a job alignmen

HD Korea Shipbuilding & Offshore Engineering said Thursday it secured new orders for four very large ammonia carriers, or VLACs, totaling 616.8 billion won ($462.6 million), reaching its annual order target ahead of schedule. These orders, secured during the global gas and climate technologies event, Gastech 2023, with Singapore EPS and Greece Capital, increase the company's 2023 total orders to $15.94 billion, outpacing their annual target of $15.74 billion. Ammonia carriers play a piv

LS Marine Solution, a South Korean firm specializing in the installation and maintenance of submarine power and communication cables, reported Wednesday a record increase in sales and profit for the first half of the year. The company credited the increase to the synergy with its affiliate LS Cable & System. This partnership yielded significant contracts, including the Bigeumdo-Anjwa Undersea Cable Project. In the first six months of this year, LS Marine Solution recorded sales of 26.5 billi

Eight in 10 expatriates living in South Korea reported they are content with their lives despite ongoing challenges such as discrimination and cultural integration, according to a 2022 survey conducted by Statistics Korea. The biannual survey sampled a pool of 25,000 expats aged 15 and above residing in Korea for over three months, comprising 20,000 foreign nationals who had visas for stays longer than 91 days and 5,000 naturalized Koreans. Breaking down the respondents, 23.4 percent held an F-4

SK Enmove, the lubricant-making unit of SK Group, on Tuesday unveiled its new ZIC e-FLO brand to expand its presence in the burgeoning energy-efficient fluid market for electric vehicles and data centers. The new strategy builds upon ZIC's legacy as a pioneering lubricant brand in Korea, evolving its range to focus on power efficiency, driven in part by the industry's broader shift toward sustainable energy solutions. "ZIC's vision now extends beyond traditional engine oils,

South Korean energy firm GS Caltex and the country's flag carrier Korean Air said Tuesday that an aircraft using biojet fuel aimed at decreasing the aviation industry's carbon footprint was scheduled to take off toward Los Angeles. During a pilot operation ceremony at Incheon Airport on Tuesday, Kim Chang-soo, GS Caltex's executive vice president and director of Mobility & Marketing; Cho Sung-bae, Korean Air's senior vice president of procurement; and representatives from

Oriental Brewery announced Monday its flagship beer brand Cass secured six awards for its innovative marketing campaigns at the 2023 Effie Awards Korea. The Effie Awards spotlight marketing campaigns around the world for their creativity and tangible business impact. Baek Sun-ah, Netflix Korea’s creative production director, was among the judges for this year's Korean segment. Cass won several accolades, including best brand in the 10th Anniversary Special Award category, marking a de