Hanjin Logistics Corp., an affiliate of Korean airline-to-logistics conglomerate Hanjin Group, said Wednesday that it set up a branch in Singapore as part of its plan to develop a network within the ASEAN member countries. This branch marks a strategic move to elevate the firm's status in the Asian logistics market, aiming to solidify its foothold in the ASEAN region. "Since Singapore is a geopolitically critical hub, establishing our branch there is a vital step in boosting our compet

Industry Aug. 14, 2024

South Korean design software developer Zyx Technology announced Tuesday that it signed a sponsorship deal with professional golfer Kim Jae-hee. Under this sponsorship, Kim will wear a cap with the logo of ZyxCAD, the company's independently developed versatile computer-aided design software, during her participation in both domestic and international tournaments. Kim became a member of the Korea Ladies Professional Golf Association in 2019 and claimed her first victory this season at the KL

Industry Aug. 13, 2024

The Korea Arboreta and Gardens Institute is paving the way for Korean-style gardens abroad. The institute, operating under the Korea Forest Service, showcased the beauty and traditional philosophy of Korean gardens on a global stage by setting up a special garden at the International Horticultural Expo in Doha, Qatar, last October. This garden, covering 1,200 square meters, created an oasis in the desert using 350 trees, 600 shrubs and 1,500 herbaceous plants, sourced locally. According to the i

Industry Aug. 13, 2024

South Korea's Ministry of SMEs and Startups, in partnership with Indonesia's Ministry of Cooperatives and SMEs, is set to co-host the fifth Korea-ASEAN Business Model Competition for SDGs 2024 in October. According to the organizing committee Monday, the annual event, launched in 2020, aims to foster cross-border collaboration to nurture startups and small and medium-sized enterprises from Korea and Southeast Asia. The event will act as a platform for entrepreneurs to present solutions

Industry Aug. 12, 2024

Kyobo Life Insurance announced Monday that the Kyobo Life Cup Youth Athletic Competition, a nationwide sports event for young athletes, has completed its 21-day run early this month. The annual event kicked off on June 13, with over 4,000 student-athletes competing in seven sports, including track and field, judo, ice skating, table tennis, gymnastics, tennis and swimming. The insurer said the competition showcased the talents of young athletes with aspirations of representing the country in the

Industry Aug. 12, 2024

TmaxTibero, a Tmax Group subsidiary specializing in database management systems, or DBMS, is set to make significant strides in the global market and public sector following the recent recognition of its technological capabilities by the Ministry of Science and ICT. Last month, TmaxTibero's research center was named one of the top corporate research facilities in the first half of this year. Kim Tai-kyoung, director of TmaxTibero, shared his pride with The Korea Herald. "We have been d

Industry Aug. 11, 2024

Starbucks Korea announced Sunday that its mobile ordering and payment platform "Siren Order" has exceeded 500 million cumulative orders since its debut here a decade ago. Launched in 2014, Siren Order reached 100 million orders in September 2019 and 300 million in June 2022. Now, more than half the total orders -- 54 percent -- are made with the mobile app. Starbucks Korea attributed the robust growth in mobile orders to its continued service improvements based on customer usage patter

Industry Aug. 11, 2024

LG Innotek announced Thursday that it will expand the integration of digital twin technology throughout its operations in partnership with Ansys, a US engineering simulation software developer. Digital twin technology recreates physical objects in a virtual space to simulate real-world scenarios using computer models, thereby predicting outcomes and cutting manufacturing time and costs. Ansys is renowned for its technological prowess and experience in simulation using 3D modeling, AI and machine

Technology Aug. 8, 2024

The Export-Import Bank of Korea said Wednesday that it will provide a $260 million loan to support the development of a new airport in Dumaguete, Philippines. Yoon Hee-sung, chairman and CEO of Eximbank, met with Ralph G. Recto, the secretary of the Philippine Department of Finance, in Manila on the day to sign the Economic Development Cooperation Fund loan agreement. The project aims to establish a new airport in central Philippines with the capacity to handle 2 million passengers per year. The

Industry Aug. 7, 2024

Samsung Biologics announced Tuesday that it became Korea's first domestic contract development and manufacturing organization to join the US-based Pharmaceutical Supply Chain Initiative. PSCI, a non-profit organization established in 2013, aims to promote sustainable supply chains in the biopharmaceutical sector. Its members include some 80 biopharmaceutical companies worldwide such as Johnson & Johnson, Pfizer, Novartis and AstraZeneca. To become a member of PSCI, companies must underg

Industry Aug. 6, 2024

South Korean drug maker Daewoong Pharmaceutical said Tuesday that it launched its gastroesophageal reflux disease, or GERD, treatment Fexuclue in Mexico, Ecuador and Chile. According to pharmaceutical market research firm IQVIA, the market for antiulcer drugs in these three countries was valued at $300 million last year. Fexuclue, a potassium-competitive acid blocker developed independently by Daewoong Pharmaceutical over 13 years beginning in 2008, was introduced to the market in July 2022. The

Industry Aug. 6, 2024

S-Oil said Sunday that it has begun airing the second season of its “GooDoil Can Do It” television marketing campaign from July 31. The new ad shifts from the previous focus on product quality to highlight the theme of the “power of creative energy,” delivering a futuristic message through a catchy commercial song. The commercial is designed in a question-and-answer format that explores a new world. In the video, S-Oil’s cherished mascot, GooDoil, flies with a hawk,

Industry Aug. 4, 2024

Achieving remarkable success at the Paris Olympics, Korean fencing is shining alongside SK Telecom's two decades of sponsorship. Since starting its sponsorship of the Korean Fencing Federation in 2003, SKT has been a steadfast supporter of Korean fencing. Over the years, the company contributed 30 billion won ($21.9 million) through the federation. "Our support has been instrumental in Korea's development into a fencing powerhouse," said an SKT official. The company has consi

Industry Aug. 1, 2024

Hyundai Motor Company announced Wednesday that it signed a mobility sector partnership with the United Nations World Food Programme, the world's largest humanitarian organization dedicated to fighting hunger across the globe. The agreement ceremony took place at the Hyundai Motor Studio in Goyang, Gyeonggi Province, with Hyundai Motor Company CEO Chang Jae-hoon and WFP Executive Director Cindy McCain in attendance. Established to combat hunger in developing nations, the WFP aims to create a

Mobility July 31, 2024

The Korean Intellectual Property Office is accelerating global efforts to enhance intellectual property rights for Korean export companies. At the recent World Intellectual Property Organization General Assembly, KIPO engaged in bilateral meetings with representatives from 10 countries. KIPO Commissioner Kim Wan-ki shared the key outcomes in an interview with The Korea Herald. "We signed two IP cooperation MOUs (memorandums of understanding) with the heads of patent offices from 10 countrie

Industry July 31, 2024