Hyundai Glovis announced Monday that it has signed a memorandum of understanding with GS Energy for cooperation in clean hydrogen, ammonia, and green energy at its Seoul headquarters. According to the agreement, Hyundai Glovis will be in charge of maritime transportation for the clean hydrogen and ammonia business. GS Energy will supervise the production of hydrogen and ammonia with the establishment of import terminals. Hyundai Glovis previously invested 200 billion won ($153 million) in buildi

South Korea will build the world's largest high-tech chip cluster in Yongin, Gyeonggi Province, with Samsung Electronics, the world's largest memory chip maker taking the lead in the 300 trillion won ($230 billion) project. The plan, unveiled during a presidential meeting with Cabinet members on the economy held on Wednesday, is aimed at boosting the nation's competitiveness in the chip industry, particularly in the non-memory chip technology sector such as system chips. It is s

SEOUL, South Korea, Feb. 24, 2023 /PRNewswire/ -- Hosted by Great Place To Work Institute (USA), a global trust management evaluation agency, and Great Place To Work® Korea, the 21st Best Workplaces in Korea™ in 2023 has been announced Best Workplaces in Korea ™ winners. 'Best Workplaces in Korea™ ' is a system that certifies companies that create a good organizational culture by practicing trust management with employee satisfaction and employee happiness as the to

Presenting the cutting-edge detector technology, 'SPAD-GS', which is 2.5 times more sensitive to X-rays and 4 times faster than ever Implemented the world's first X-ray detector using the 'SPAD', digital pixel technology capable of single-photon detection Being announced and drawing attention from the academic world at ISSCC 2023 SEOUL, South Korea, Feb. 23, 2023 /PRNewswire/ -- Rayence (www.rayence.com), a specialist in digital X-ray components and materials, presented a paper at the

Energy-to-semiconductor conglomerate, SK Group, has the largest number of affiliated companies among 76 local business groups with 5 trillion won ($3.9 billion) or more in assets, data showed Monday. According to South Korea's Fair Trade Commission, SK Group, the country's second-largest business group in terms of assets, had 201 affiliates as of Jan. 31. The figure went up by six from just three months ago. It is the first time for the number of affiliates among large business group

South Korea's high-tech industries such as nuclear power plant operators, mobility, aerospace, materials and parts and biotechnologies are expected to benefit heavily from United Arab Emirates' 30 billion dollars’ worth of investment, according to industry insiders Monday. According to the Ministry of Strategy and Finance, South Korean President Yoon Suk Yeol and Emirati leader Sheikh Mohammed bin Zayed Al Nahyan on Sunday held a meeting, during which the two leaders signed total

Top executives of Samsung, SK and Hyundai are accompanying South Korean President Yoon Suk Yeol on his state visit to the United Arab Emirates as well as to the World Economic Forum, as part of an official business delegation aimed at boosting economic cooperation. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and Hyundai Motor Group Chairman Chung Euisun are among the chiefs of 100 South Korean companies making up the business delegation, according to industry source

Hyundai Oilbank, one of South Korea’s leading refiners, said Monday that it handed out 1,000 percent of base salaries as bonuses to its staffers. The company declined to disclose the specific amount of the salaries given. In 2021, its employees received an average of 121 million won ($94,800) per person including bonuses at a 600 percent rate. The refiner’s lump-sum bonuses came in line with the refining industry’ stellar performance last year. In the third quarter alone, Hyu

Beer and liquor importer The IB Korea is extending its product lineup by launching US cocktail brand Uptown’s Blue Hawaiian cocktail drinks, together with Texas-based distillery Southern Champion. Uptown's Blue Hawaiian lineup consists of two cocktail drinks, pineapple and citrus-flavored, as well as gluten free. Pre-orders for retailers have been made since June, the importer said. Premixed and bottled in a 1.5-liter liquor bottle, the drink garnered a lot of interest at a tasting ev

In a bid to strengthen the nation's food technology industry, the government unveiled its plan on Wednesday to incubate 30 unicorn startups and aim to quadruple food-tech related exports by 2027. According to the Ministry of Agriculture, Food and Rural Affairs, food-tech refers to a newly rising industry which applies state-of-the-art technologies such as biotechnology, and artificial intelligence to various processes including preservation, processing, packaging, distribution, and use of

SEOUL, South Korea, Dec. 6, 2022 /PRNewswire/ -- AirCUVE, during the last 2 decades as a global leading network security company, launched a Smart two-factor Authentication Solution, V-FRONT v7, which is an advanced Smart and Easy Login solution in November. The long-lasting COVID-19 changed work environment office work to 'Work-From-Home(WFH)' and many companies are prepared to deploy more intelligent security platforms to protect corporates.  Governments, enterprises, the public, and hosp

Vietnamese President Nguyen Xuan Phuc on Monday held meetings with a slew of business leaders here, during a state visit to commemorate the 30th anniversary of bilateral ties between South Korea and Vietnam. Jung Won-ju, vice chairman of Jungheung Group, the largest shareholder of Daewoo E&C, was among the business leaders the president met to share the Southeast Asian country’s business outlook and its will to support foreign businesses. “Daewoo E&C is carrying out diverse c

South Korean business moguls joined a banquet hosted by President Yoon Suk-yeol on Monday to commemorate Vietnamese President Nguyen Xuan Phuc’s state visit to Seoul. Following their summit talks earlier in the day, the two presidents held a state dinner, with a slew of business and political leaders in attendance. The list of the attending tycoons included: Hyundai Motor Group Chairman Chung Euisun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin, Jungheung Group Chai

SAN FRANCISCO, Nov. 29, 2022 /PRNewswire/ -- IDEO, the global design and innovation company, today announced that Derek Robson has been named its Chief Executive Officer, effective January 5, 2023. Derek Robson Robson has been Managing Partner of the full-service advertising agency Goodby Silverstein & Partners (GS&P) since 2006 and its President since 2017. He has led the company through massive growth, challenging financial times, and a turnaround that saw the fi

South Korean energy company GS Caltex is seeking to diversify its business portfolio with the completion of a new olefin production facility worth 2.7 trillion won ($2.01 billion) in Yeosu, South Jeolla Province. On Friday, the company held a ceremony to celebrate the completion of the facilities, with its top brass, including CEO Hur Sae-hong, in attendance. Olefin, a linchpin element in the petrochemical business, is used as a basic material for plastic, synthetic fiber and synthetic rubber. T