Hanwha Life, a leading Korean insurance company and subsidiary of Hanwha Group, announced Tuesday that its artificial intelligence research unit has been conducting a joint study with Stanford University's AI institute after signing a collaboration agreement. Launched in June, Hanwha Life AI Research Institute aims to keep pace with changes in the market, focusing on four key areas: enhancing investment strategies, developing a “digital persona,” integrating AI into health care

Industry Nov. 19, 2024

HD Hyundai Heavy Industries announced Monday that it signed a memorandum of understanding with state-operated shipyard SIMA Peru in Lima, Peru, last week to jointly develop submarines as part of the Peruvian Navy’s vessel replacement project. Through the partnership, HD Hyundai and SIMA will make joint efforts to win contracts and develop submarines tailored to Peru’s Navy. HD Hyundai also plans to strengthen its partnership with the Peruvian government and navy, supporting the local

Industry Nov. 18, 2024

Hanjin Logistics, an affiliate of South Korean airline-to-logistics conglomerate Hanjin Group, is ramping up efforts to improve its fulfillment services and attract more corporate customers seeking to enter the US market. Earlier this month, CEO Noh Sam-seok and Emily Cho, president and chief marketing officer, traveled to the US for meetings at the company's local headquarters as they plan to expand the logistics firm's fulfillment business on the US east coast, according to the compa

Industry Nov. 15, 2024

South Korean design software developer Zyx Technology announced Friday that it has signed a memorandum of understanding with Chonnam National University, aiming to foster tech talent and strengthen collaboration. Under the agreement, the company said it will provide academic support, including free access to cutting-edge design software and opportunities for joint research and development of artificial intelligence software. As a member of the Innobiz Association, Zyx Technology has developed a

Industry Nov. 15, 2024

CJ Logistics, South Korea’s largest logistics firm, announced Thursday that it has commenced operations of its new cold chain logistics center in Gainesville, Georgia. The facility spans 24,904 square meters, with 90 percent dedicated to cold chain logistics and the remaining 10 percent allocated for ambient storage. The center can adjust the temperature in accordance with each product’s storage requirements. The center features a blast-freezing system that rapidly lowers product tem

Industry Nov. 14, 2024

The American Chamber of Commerce in Korea announced Wednesday that it has hosted the 17th fundraising event for student scholarships together with its charity arm, Partners for the Future Foundation. The AmCham CEO Servers’ Night was held at the Conrad Seoul Hotel, bringing together 35 CEOs and C-level executives from AmCham member companies. After being trained by hotel staff, the top executives personally served wine and dinner to 430 guests to show their appreciation. “It is truly

Industry Nov. 13, 2024

Starbucks Korea will open a new outlet this month, just 1.4 km away from North Korea. The store will be located on the second floor of the observatory at Aegibong Peace Ecopark in Gimpo, Gyeonggi Province. Aegibong, a 154-meter peak, offers a direct view of North Korea’s Kaepung County and Songaksan. Since the park’s opening in 2021, the observatory has drawn large crowds. Last year, almost 140,000 tourists visited the park to catch a glimpse of North Korea. The ecopark features an o

Industry Nov. 8, 2024

South Korean contract development and manufacturing organization Lotte Biologics said Thursday that it offers job opportunities without specific qualification requirements in its year-round internship program. The Open Innovation Internship is open to anyone, regardless of gender, nationality, age, educational background or career history. The internship duration can be tailored to suit the needs of both the company and the participants. When Lotte Biologic needs new interns, it reviews profiles

Industry Nov. 7, 2024

South Korea's leading cosmetics original design manufacturer, Kolmar Korea, announced Wednesday it will start a packaged product service to accelerate product launches by up to six months, aiming to strengthen its position in the global market. The packaged product service, or PPS, allows clients to obtain products simply by choosing from pre-developed formulations and containers. Typically, launching a new cosmetic product takes nine to 12 months. Kolmar anticipates the PPS system will sho

Industry Nov. 6, 2024

South Korean steelmaker Posco Group announced Tuesday that its joint venture, Posco Zhongtai Air Solution, has started construction of a high-purity rare gas plant in Gwangyang, South Jeolla Province. The joint venture was launched in August between Posco Holdings and China's Zhongtai Cryogenic Technology, which own 75.1 percent and 24.9 percent of the entity, respectively. Zhongtai, which specializes in gas-related facilities, is a Chinese cryogenic equipment company listed on the Shenzhen

Industry Nov. 5, 2024

South Korean energy company SK Eternix announced Monday that it has partnered with Charmvit Group and KDB Infrastructure Asset Management to fund high-efficiency solid oxide fuel cell power plant projects. Late last month, SK Eternix signed an agreement with multiple financial investors to secure 461 billion won ($336.1 million), marking the largest investment to date in Korea's fuel cell sector. The company anticipates this partnership will cover 85 percent of the total investment cost of

Industry Nov. 4, 2024

South Korean fashion company ShinWon announced Sunday that it has launched an R&D Design Center in New York, to strengthen its presence in global markets. Currently, ShinWon operates seven manufacturing subsidiaries in Guatemala, Nicaragua, Vietnam and Indonesia, all known for their expertise in knit and sweater production. With these production capabilities, the company has maintained long-term collaborations with top global brands like Patagonia, Columbia, GAP, Target and Walmart. &ldquo

Industry Nov. 3, 2024

Hana Financial Group said Sunday that it has launched the 100th child care center in Bonghwa-gun, North Gyeongsang Province, as part of its 150 billion won ($108.6 billion) project aiming at addressing the nation’s chronically low birth rate. The Korean financial giant launched the project in 2018, with the aim of establishing a total of 100 child care centers nationwide in collaboration with provincial governments. "I am very pleased with this achievement after six years of efforts t

Industry Nov. 3, 2024

HD Hyundai Oilbank, one of the nation’s top refiners, announced Thursday that its gas and charging stations will offer customers the chance to win instant rice made from freshly harvested grains. Starting Friday, customers who spend over 40,000 won ($29) at gas stations or more than 20,000 won at charging stations can enter a raffle. Only those with a Bonus Card -- a loyalty card that offers points and benefits -- are eligible. Winners will receive a bundle of three instant rice packs, mad

Industry Oct. 31, 2024

Hankook Tire announced on Tuesday that it has incorporated three types of carbon black, a byproduct of the combustion of various petroleum products, into tire production as part of its efforts to create a circular economy. Last year, Hankook Tire launched the Tire-to-Tire Circular Economy Model consortium together with HD Hyundai Oilbank and HD Hyundai OCI to upcycle waste tires and develop carbon black. HD Hyundai Oilbank sources recovered carbon and pyrolysis oil, or bio-oil, from end-of-life

Industry Oct. 29, 2024