LG Group said Sunday that it awarded the first LG Guggenheim Award to Brooklyn-based artist Stephanie Dinkins, at a ceremony held in New York, Friday. The LG Guggenheim Award is an extension of the LG Guggenheim Art and Technology initiative, a five-year joint project from the Guggenheim and LG to honor, research and promote artists combining technology and art in their works. Dinkins, an art professor at Stony Brooks University, has emphasized the importance of fairness and equality in the digi

Industry May 21, 2023

Kumho Tire announced Thursday it has successfully sponsored the opening race of the Touring Car Racing World Tour, a renowned motorsport competition promoted by WSC Group that took place April 29-30 at the Algarve International Circuit in Portugal. Signing a three-year title sponsorship deal with WSC last February, Kumho sponsored all the racing tires in the drivers’ cars for the competition, leading to dynamic races. Prestigious carmakers such as Audi, Honda and Hyundai Motor have shown t

Industry May 18, 2023

The Formna, a South Korean online retailer, announced Thursday it is launching the 2023 BTS Permission to Dance Spring Sandals in July through an official licensing agreement with Hybe, the K-pop agency behind the global sensation. According to the Formna, the BTS-themed sandals, in both black and white versions, will be produced in collaboration with Noitavonni, a Korean shoemaker specializing in health care shoes. The company’s air cushion patents have gained approval from the US Food an

Consumer May 18, 2023

South Korean general trading firm STX said Wednesday it has won an order to produce two 500-ton maritime patrol ships worth a combined $36 million for the Peruvian government. Having already supplied a total of six maritime patrol ships since 2013, STX said it is securing a firm footing in the Peruvian defense market. The upcoming diesel-powered seventh and eighth ships – 56.4 meters long and 8.5 meters wide each – have a maximum speed of 23 knots or 42.6 kilometers per hour. Equippe

Industry May 18, 2023

South Korean telecommunications giant KT announced Sunday that it will push forward a non-face-to-face health care project in Vietnam involving health examination centers and artificial intelligence in medical fields. The company plans to conduct a pilot service for cancer and chronic disease patients using a remote care platform with KT Healthcare Vina, a Vietnamese medical corporation established earlier this year. Post-discharge management of gastric cancer surgery patients and health care ma

Industry May 14, 2023

South Korean automaker Hyundai Motor captured more than half of the global hydrogen fuel-cell vehicle market in the first quarter, according to energy market tracker SNE Research on Thursday. A total of 3,737 hydrogen fuel-cell vehicles were sold worldwide in the first three months of 2023, up 4.5 percent on-year. Among manufacturers, Hyundai Motor sold a total of 2,042 vehicles, of which it sold 2,013 units of the Nexo -- an 19.8 percent increase on-year. Hyundai’s market share increased

Mobility May 11, 2023

Korean solar energy company Hanwha Q Cells said Wednesday it secured the top position in the US solar module market both for residential and commercial uses last year. The company took up 33.7 percent of the residential module market, cementing its No. 1 ranking for five consecutive years, according to market tracker Wood Mackenzie. Its share in the commercial module market was 17.7 percent, topping the list for four years in a row. Hanwha Q Cells' flagship solar panel series, "Q.peak

Industry May 10, 2023

Seo Jung-jin, the founder and chairman of South Korean biopharmaceutical firm Celltrion, made an official apology to its shareholders regarding the controversy over his children born out of wedlock via a statement posted on Celltrion’s official website on Monday. “Though my personal issues released through the media may not all be true, I sincerely apologize for causing an irreparable disappointment to our shareholders with my past follies and reckless behavior,” the statement

Industry May 9, 2023

Hana Financial Group said Monday it has signed a memorandum of understanding with Taiwan’s banking giant, CTBC Bank, to seek business expansion in overseas markets. Under the new partnership, Hana and CTBC plan to support their overseas branches to expand businesses and optimize profits, as well as to discover new business opportunities together in various fields, including corporate finance and investment banking. They also agreed to share business know-how to increase their assets furthe

Industry May 8, 2023

KB Financial Group announced Tuesday that it will host an event on Thursday to invite key figures in the global financial industry to present its businesses and growth strategies while looking for collaborative opportunities. The banking giant's cocktail reception, which will take place in Songdo, Incheon, is designed to promote the excellence of Korean finance and KB Financial's business competitiveness on the occasion of the 56th Annual Meeting of the Asian Development Bank held in I

Industry May 2, 2023

Top brewer Oriental Brewery's Hanmac, a rice-based lager beer, has returned with an upgraded design and fresh quality. Hanmac was launched in 2021 to celebrate the 100th anniversary of the nation’s beer history as part of the brewer's ambitious project to become “Korea’s most representative lager." The new version of Hanmac boasts a new, softer mouthfeel and a head with a longer-lasting taste by using a four-step microfiltration process. In addition, the company

Consumer April 30, 2023

Hyundai Mobis CEO Cho Sung-hwan reaffirmed the company's vision to strengthen its key competitiveness in the future mobility sector including autonomous driving and connectivity during a symposium held in Vienna on Thursday. “Hyundai Mobis will deliver a differentiated platform to customers in the electrification, autonomous driving and connectivity sectors based on software with exceptional quality and optimum semiconductors,” Cho said during his speech. The 44th International

Technology April 28, 2023

South Korean steelmaker Posco Group said Thursday that it has teamed up with German industrial giant Siemens to enhance the competitiveness of the steel industry during their meeting in Seoul, Tuesday. Posco Vice Chairman Kim Hak-dong and Siemens CEO Roland Busch held the meeting to strengthen mutual cooperation between the two groups and find new business opportunities. Siemens is Europe's largest engineering company pushing for business in a range of fields including factory automation, e

Industry April 27, 2023

Korea Ginseng Corp., the country's leading ginseng manufacturer, said Wednesday that a collaborative research team supported by KGC and Konyang University has found a potential mechanism to reduce cognitive decline in Alzheimer's disease in red ginseng polysaccharides. Alzheimer's is the most common type of dementia, which occurs when amyloid beta, a proposed cause of Alzheimer's, aggregates and accumulates in the brain. Konyang University’s Research Institute for Demen

Industry April 26, 2023

South Korea's customs agency Korea Customs Service said Tuesday that it will host an international conference in Seoul starting from Wednesday, under the theme of global cooperation and digital customs. Taking place between Wednesday to Friday, Korea Customs Week 2023 will be the first large-scale international customs conference held by the agency. The event will be attended by customs authorities from 75 countries, with 600 domestic and overseas entrepreneurs and officials, including the

Economy April 25, 2023