Hyundai Motor Group’s decadeslong sponsorship for the Korean archery team has once again stepped into the spotlight as the national team swept up a total of 11 medals across individual and team categories over the past week at the 19th Asian Games in Hangzhou, China. Industry watchers say the Korean auto giant’s systemic support, led by Honorary Chairman Chung Mong-koo and his son and Executive Chair Chung Euisun, has laid the foundation for the national team to demonstrate their f

Hyundai Glovis, a logistics affiliate under Hyundai Motor Group, unveiled Thursday its “Net Zero Special Report,” a road map aimed at achieving carbon neutrality by 2045. By setting the target year for 2045, Hyundai Glovis has formulated strategies to decarbonize the shipping sector five years ahead of the regulations set by the International Maritime Organization and the South Korean Maritime Ministry’s carbon neutrality goal. Under the road map, Hyundai Glovis plans to boos

SK Telecom said Tuesday that it has forged a business partnership with Japan’s leading pet insurance company Anicom Holdings, as it eyes global expansion with X Caliber, its flagship artificial intelligence-based medical service for pets. The Tokyo-based pet insurance company owns a top market share of 46 percent alongside running various subsidiaries engaged in diverse pet-related businesses, including an electronic chart solution company and an animal hospital operator. Under the agreeme

Amid rising inflation, an increasing number of Koreans are opting for more affordable ready-to-eat meals, or meal kit, products over traditional dishes to prepare a table for the Korean Thanksgiving holiday of Chuseok that runs from Sept. 28 through Sept. 30 this year. During Chuseok, setting up a "charye" -- a table full of food offerings including fruits, rice, fish and meat -- is prepared to honor one’s ancestors. However, the cost of preparing a four-person charye is expected

The state-run Korea Post said Tuesday that Rep. Cho Hae-keun of the ruling People Power Party has been named president of the national postal service. An expert in administration, Cho studied his undergraduates in the field at Sungkyunkwan University and went on to earn a master’s degree in Public Administration from Syracuse University in the US. After passing the 38th Civil Service Exam, he first embarked on his career in the public sector in 1995 and held several posts at Korea Post,

From left: Hana Financial Group Vice Chairman Lee Eun-hyung, Korean Ambassador to Saudi Arabia Park Joon-yong and Saad Al-Khalb, CEO of Saudi Export-Import Bank (Saudi EXIM), pose for a photo after signing a partnership deal at the headquarters of Saudi's National Development Fund in Riyadh, Monday. Hana became Korea's first commercial bank to forge business ties with Saudi EXIM. The two institutes aim to expand financial cooperation to explore new global projects in the Middle East an

Posco International said Tuesday that it inked a preliminary joint venture agreement with US grain company Bartlett and Co., in a move to enhance its global food supply network. The agreement was signed in Kansas City, US, on Monday with top executives including Posco International Vice Chairman and CEO Jeong Tak, and Bob Knief, CEO of Bartlett and Co., in attendance. The US company owns some 15 grain terminals through which it supplies major grains including corn, wheat and soybeans to the dome

South Korea's advanced materials maker SKC said Monday that it had decided on a location in Vietnam’s northeastern city of Hai Phong to establish a manufacturing plant for biodegradable plastics, as it pushes to expand its eco-friendly business. Amid mounting global calls to reduce plastic waste, the international market size for bioplastics is expected to grow at an annual rate of over 20 percent. SKC and its joint venture Ecovance officials and top executives visited Vietnam on Fr

Hyundai Engineering on Thursday secured an order from US energy firm GTL Americas to build a plant in the US that will turn natural gas into high-grade diesel, naphtha and jet fuel. Under the project, the gas-to-liquid or GTL facility will be established near the city of Pine Bluff, Jefferson County, Arkansas, to generate some 41,000 barrels of fuel per day, including synthetic diesel or high cetane synthetic fuel, and paraffinic synthetic naphtha. The GTL procedure is a high-tech process that g

Khanfilter, a South Korean supplier of high-performance air filters, has seen early success with its air purifier that uses automotive technology to help it remove over 90 percent of odor and particle matter without losing performance in challenging environments. Traditional filters exhibit a sharp decline in performance when exposed to water vapors or oil mist, a common condition in kitchen spaces. However, Khanfilter’s flagship indoor air purifier Khanpure has provided a timely solutio

SK Pharmteco, a global contract development and manufacturing organization under Korean conglomerate SK Group, said Wednesday that it has acquired the Center for Breakthrough Medicines, a US cell and gene therapy firm. The Korean firm exercised its right to acquire a controlling stake in CBM to obtain the management right of the Philadelphia-based cell and gene therapy CDMO, offering pre-clinical to commercial phase therapies. The right was given when SK Pharmteco made its capital investment i

K-pop girl band IVE performs during the Hana Playlist Concert held at Yonsei University in Seoul, Sunday. Other singers in the lineup included singer and producer Psy, folk duo MeloMance, ballad singer Sung Si-kyung and K-pop boy band Zerobaseone. The two-day event was hosted by Hana Financial Group as part of its ongoing cultural projects aimed at raising its brand awareness. (Hana Financial Group)

Non-fungible token platform company Art Token said Monday that it recently joined hands with Anicube Entertainment, a music metaverse platform company, in a move to drive the global expansion of Korean digital art content. The latest partnership was inked at Art Token's headquarters in Gangnam, southern Seoul earlier last week, with top executives including Art Token CEO Hong Ji-sook and Anicube Content Market Business Head Lee Cheol-jae in attendance. Under the agreement, Art Token aims

Information technology service provider LG CNS said Thursday it has inked a deal with Korea University to nurture future talent in the burgeoning field of artificial intelligence and data science. Under the new industrial-academic partnership, a department temporarily named “AI and Data Science” will be set up at Korea University’s graduate school, and students will receive a job offer at the company upon graduation. Starting next year, the department plans to admit over 20 gra

Innocean Worldwide said Wednesday that its Indonesian unit was named the second-best agency of the year by Campaign Brief Asia, a global online portal specialized in marketing and advertising. Campaign Brief Asia assessed firms in Indonesia based on their history of receiving creative awards and an internal evaluation, conferring second place to Innocean Indonesia in the Agency of the Year 2023 ranking on Sept. 7. Despite being a relative newcomer to the Indonesian market, the firm outpaced reno

HD Hyundai Oilbank's new design featuring its updated corporate identity is displayed at the GRC gas station in Bundang, Gyeonggi Province, Tuesday. The design, renewed for the first time in 23 years, has blue and green lines against a white background as its prominent feature, underscoring simplicity. The two lines on top converge with a gap, creating an eye-catching and yet harmonious aesthetic. The two lines are illuminated brightly on the gas station roof, enhancing visibility at night.

South Korean conglomerate Hanwha Group said Tuesday that it will stage its biggest event yet at the 2023 Seoul International Fireworks Festival at Hangang Park in Yeouido on Oct. 7. The annual event, organized by Hanwha Group as part of its social contribution program, typically draws an audience of one million people every year, with participation from various countries. Under the theme "Lights of Tomorrow," this year's event will feature a total of three teams from Korea, Chin

LG Innotek CEO Jeong Cheol-dong joined the “Zero Disposables Challenge,” an environmental initiative launched by the Ministry of Environment in February to encourage the use of reusable items in public, the firm said Monday. The campaign typically involves CEOs posing for a photo, signaling their commitment to slashing single-use plastic waste. The photo is then posted on social media platforms, with the CEO naming the next participant. Since its launch, a number of key business le

Some 700 Chinese tourists visited the Shilla I'Park Duty Free Shop in Yongsan, central Seoul, on Friday, marking the first group visit to a domestic duty-free store in six years, according to the store operator HDC Shilla Duty Free on Sunday. Following a tour of Gyeongbokgung, South Korea's iconic ancient palace, the group visited the store to enjoy some shopping. They also got the opportunity to try various Korean cuisines at food and beverage stores within the I'Park shopping ma

South Korean cosmetic giant Amorepacific announced Thursday that its high-end cosmetic brand Hera has entered the Japanese market. Riding on the global popularity of brand ambassador Jennie from Blackpink, Hera has been gaining traction in the global market, with its leading Black Cushion foundation logging over 8.56 million combined domestic and international sales. At the end of August, a pop-up store was launched at Shibuya Scramble Square, a large shopping complex in Japan’s capital.