GS Group, a South Korean energy and engineering giant, has laid out plans to reinforce the competitiveness of its major businesses, discover unique growth engines and expand overseas projects.“Since its launch, GS has consistently pushed toward overcoming the limits of the domestic market to expand its business territory and adopt global strategies to create more jobs,” said GS Group Chairman Huh Chang-soo. GS Group has been solidifying its foothold as a representative exporter, well-illustrated

South Korea‘s state-run utility provider Korea Electric Power Corporation said Tuesday that it will begin operating its 1,560 electric vehicle charging stations in the nation starting on July 3.Of the total 1,560 EV charging stations, 569 are public charging stations that are available at Kepco’s operations center and public parking spaces, while the rest 989 are stations that are installed at apartment complexes, the company said.  (Yonhap)Kepco, which is currently the nation‘s largest provider

South Korea’s state-run Korea Gas said Monday that it will start importing US shale gas in July.Following a deal secured in 2012 with the Texas-based Cheniere to bring in shale gas, Korea has become the first nation in Asia to import US shale gas. From this year, Kogas will bring in 2.8 million tons of US shale gas annually for the next 20 years. Throughout 2017, the company will import some 1.5 million tons, which will allow Korea’s annual import shipments of natural gas to reach 36 million ton

GS Caltex Chairman Huh Jin-soo hosted a musical concert in Seoul on Monday to celebrate the company’s 50th anniversary with its longtime clients and business partners, the firm said Wednesday.“GS Caltex has grown along with customers for the past 50 years,” he said at the concert, which featured soprano Shin Young-ok and samulnori -- Korean traditional percussion -- musician Jang Sa-ik.GS Caltex Chairman Huh Jin-soo (GS Caltex)“(The company) will provide stable and sustainable value and will rem

Aparna Balakumar, a 21-year-old Australian student visiting South Korea, says she was a little nervous about coming to the country for the first time, fearing that her food options might be limited as a vegetarian. But after weeks of hunting in Seoul, she learned there are a significant number of vegetarian communities here and an increasing number of places to go that are vegetarian-friendly, with many of them located in districts frequented by foreigners such as Itaewon.“Plant in Itaewon, for

South Korea’s oil refining businesses set their dates for half-year interim dividends on the back of increasing first-half profitability, especially in petrochemicals and lubricants. The latest refiner to join the trend was SK Innovation, which on Friday set June 30 as its record date for the interim dividends, meaning holders of shares on that date will be eligible for the payment.  (Yonhap)The company’s board of directors still have to decide on whether a payment will be made, based on second-

South Korea’s bottled water market is expected to surpass 1 trillion won ($890 million) by 2020 on the back of rising popularity among single-person households and the use of online shopping platforms, according to a local market research firm. Between 2010 and 2016, the bottled water market posted average annual growth of 6.7 percent, while the average growth of overall nonalcoholic beverages was relatively lower at 4.7 percent during the same period, according to a report from Taurus Investmen

LG Display retained the world’s highest shipments of large panels for 30 consecutive quarters, a global market research company said Tuesday.LG Display, the world‘s largest liquid crystal display panel manufacturer, was first ranked No. 1 in the global large display panel market in the fourth quarter of 2009 and has maintained its position since then. In the first quarter this year, LG Display shipped 35.42 million units, which accounted for 21.4 percent of the global shipment of 9-inch or large

Hyundai Motor Group’s construction of its new headquarters Global Business Center in Samsung-dong, southern Seoul, is to be delayed after the Seoul Metropolitan Government rejected the company‘s first draft of an environmental impact assessment Tuesday. The government said that it would redeliberate the draft when the company revises it.“Hyundai Motor will conduct a thorough revising process to meet the government‘s expectations. We will also try to resubmit its revised draft as soon as possible

South Korean shipbuilders won the largest amount of new orders for the second straight month in May, according to data from a global shipping information company Monday. According to the UK-based Clarkson Research Service, Korean shipbuilding companies in May secured orders to build a total of 21 units worth a combined 790,000 compensated gross tons, a measurement to gauge the amount of work that goes into constructing a vessel.New orders placed with Korean shipbuilders last month accounted for

The energy industry has been showing mixed reactions to the anti-nuclear energy policy touted by President Moon Jae-in, taking a wait-and-see approach for now, as proponents and opponents alike weigh in on the efficacy, importance and reality of realizing no-coal, no-nuclear initiatives.Upon taking office last month, the Moon administration vowed to scrap all new constructions of new nuclear power plants, suspend building of the Shin-Kori No. 5 and 6 plants in Ulsan, close down the Wolsung No. 1

South Korea’s leading chemical company LG Chem has landed a large-scale contract to supply seawater filters to water treatment company Metito’s desalination plants in Egypt, the company said Sunday. LG Chem’s latest supply agreement is expected to be worth some 10 to 15 billion won ($9 million to $13 million), similar to the contract signed to provide its filters for the Sohar plant in Oman last year, which was worth at around 10 billion won. Under the contract, LG Chem will begin providing its

Hyundai Motor’s 2017 Genesis G90 luxury sedan was named the most satisfying vehicle on AutoPacific’s 21th Vehicle Satisfaction Awards, the company said Thursday.The VSAs are based on responses from some 54,000 owners of cars and light trucks released in 2016 and 2017. AutoPacific’s VSAs measure owner satisfaction with 49 separate attributes, ranging from interior comfort and styling to fuel economy and performance.Hyundai’s Genesis G90 also won the President’s Award, which is given to vehicles t

Shipbuilder Samsung Heavy Industries is one step closer to achieving its annual order target, as the company has reached an agreement to sign more contracts later this year. SHI has signed a letter of intent with Seaone in mid-May, to build 12 articulated tug barges that will carry compressed gas, the company said Thursday. The contract is expected to be worth some $1.5 billion. (Yonhap)Seaone is likely to make a final decision in November, according to industry insiders. Details of the on-going

South Korea‘s leading chemical firm LG Chem was offered financial support worth $12.6 million from the Bill and Melinda Gates Foundation to develop its inactivated polio vaccine used to prevent infantile paralysis, the company said Wednesday.　With the funds provided by the foundation, LG Chem will boost its clinical research overseas and expand its vaccine producing facility in Osong, North Chungcheong Province, the company said. LG Chem’s vaccine facility in Osong, North Chungcheong Province (L

South Korea’s largest steelmaker Posco fired up its third blast furnace Tuesday after three months of renovation work that turned the steelmaking unit into the world’s fifth largest, the company said. Posco spent a total of 370 billion won ($330 million) to reconstruct and expand its capacity to 5,600 cubic meters from 4,350 cubic meters. Posco also added an automated monitoring system to check “the inner condition of the blast furnace” on a real-time basis, an official said. The monitoring syst

Samsung Heavy Industries has secured a deal worth $2.5 billion to build a liquefied natural gas facility off the coast of Mozambique, the company said Friday. The deal is part of the Coral South project led by Italy’s state-run energy firm Eni and other partner companies. Under the contract, Samsung Heavy Industries will construct a floating natural gas production facility by 2020. The construction is expected to begin in 2019, according to the company.  (Yonhap)The facility, which measures 439

South Korea’s imports of coffee products posted a record-high last year, with the domestic coffee market continuing to expand, government data showed Friday.Inbound shipments of coffee products, such as unroasted beans, roasted beans and coffee capsules reached 159,000 tons as of end-December last year, a 10.7 percent increase compared to 2015, data from the Korea Customs Service said. It was the largest amount recorded since the Korea Customs Service started compiling the related data in 2000. 

Hanwha Chemical is advancing into the eco-friendly plasticizer market with its newly developed plasticizer ECO-DEHCH, the company said Wednesday. Plasticizers are additives that increase plasticity, often used in PCV applications. Hanwha Chemical’s new plasticizer is free of phthalates, unlike conventional plasticizers that include phthalates, which are chemicals harmful to humans, the company explained. (Yonhap)From Thursday, the company will start manufacturing its new plasticizer at its facil

LG MMA, South Korea’s biggest methyl methacrylate manufacturing company, said Wednesday it will invest some 130 billion won ($116 million) to expand its facility to meet growing demand for MMA.MMA is a chemical compound used for manufacturing acrylic glass, which is needed in the production of electronics such as mobile phone screens, LCD screens and monitors among others. LG MMA expects its annual produce to increase from the current 180,000 tons to 260,000 tons, when the expansion work is comp