South Korean steel giant Posco Group said Monday that it has received the highest grade in the 2023 Shared Growth Index Evaluation for five consecutive years. Earlier this month, the 80th Korea Commission for Corporate Partnership released the win-win index for 218 large-sized companies. The index encourages shared growth within the industry by measuring large enterprises’ efforts to make room for small and medium-sized enterprises. Posco scored highly for its clear and fair transaction pr

Industry Oct. 28, 2024

Hanwha Group is seeking further cooperation with the US Navy, to build on ongoing projects. The group said on Friday that Hanwha Group Vice-president Kim Dong-kwan and US Pacific Fleet Cmdr. Admiral Stephen Koehler met at Hanwha Ocean’s Geoje site on the previous day and discussed ways for further cooperation. Kim and Koehler toured the Wally Schirra, a US Navy logistics support ship currently under maintenance, and discussed further cooperation on maintenance, repair and operations projec

Industry Oct. 25, 2024

More than 4 million fans gathered to watch a match featuring legendary soccer players hosted by Nexon, the game developer that published the FIFA Online series, the firm said Friday. For the Nexon Icons Match event, held at Seoul World Cup Stadium from Oct. 19-20, players were split into two teams -- former forwards played for FC Spear while defenders joined Shield UTD. A total of 64,210 fans attended the event, many of whom wore the players’ classic uniforms. The event drew an online view

Industry Oct. 25, 2024

Hyundai Glovis, Hyundai Motor Group's logistics and distribution subsidiary, said Thursday that it has equipped its automobile carriers with a fire suppression system to prevent potential incidents while delivering electric vehicles. The EV-Drill Lance system is designed to quench electric vehicle fires. High-pressure water flowing from a fire hydrant spins turbines, enabling the drill to pierce to the bottom of a car. Water can then flow into the battery pack and fully extinguish the fire

Industry Oct. 24, 2024

South Korean pharmaceutical company SK Bioscience said Wednesday that its SKYCellflu has become the first influenza vaccine from Korea approved by the Food and Drug Agency of Indonesia. Indonesia’s pharmaceutical market has been growing significantly. According to market tracker Insights10, the country’s flu vaccine market is expected to increase from $38.5 million in 2022 to $69.1 million by 2030. Due to its geography spanning both the Northern and Southern hemispheres, Indonesia re

Industry Oct. 23, 2024

The organizers of the 5th Korea-ASEAN Business Model Competition for SDGs, held in Indonesia, said Tuesday that the event attracted a wide range of startups and small and medium-sized enterprises from South Korea and ASEAN countries. This year's contest aimed to foster innovative solutions to achieve the United Nations Sustainable Development Goals, with two Korean companies securing first and second place. The plant-based food startup Millennial Flavor Town won $6,000 for its eco-friendly

Industry Oct. 22, 2024

Hyundai Engineering & Construction said Tuesday that it has signed a memorandum of understanding with the government of South Australia at the company's headquarters in Jongno-gu, central Seoul. Hyundai E&C and the South Australian government will jointly carry out projects related to renewable energy, infrastructure and housing development. The agreement comes as South Australian government officials and company leaders visited Korea to promote cooperation on infrastructure for net

Industry Oct. 22, 2024

KB Kookmin Bank said on Sunday that services will begin on Monday at its new branches in Chennai and Pune as the Korean bank seeks to expand its footing in the Indian market. Chennai, the largest city in southern India, serves as a major commercial and manufacturing hub, while Pune, in India’s western coastal region, is an emerging center for cutting-edge industries such as information technology and biotechnology. Including its Gurugram branch, which opened in 2019, KB Kookmin Bank now ha

Industry Oct. 20, 2024

Shinhan Financial Group announced Thursday it has signed a memorandum of understanding with China's Bank of Communications to enable its SOL Travel Card users to make payments using QR codes in China. The Bank of Communications, one of China’s five state-owned commercial banks, ranked ninth in The Banker’s 2023 Top 1000 World Banks. Its Seoul branch serves as the only designated renminbi clearing bank in Korea, managing settlements in yuan on behalf of other institutions. As par

Industry Oct. 17, 2024

South Korean steel giant Posco Group announced Wednesday that Chairman Chang In-hwa has joined the executive committee of the World Steel Association. The World Steel Association, consisting of 155 members ranging from global steelmakers to research institutes, aims to enhance profitability in the steel industry. Over the next three years, Chang will work on key issues such as low-carbon technology, the environment and safety. At the WSA executive committee meeting Sunday, leaders of the global

Industry Oct. 16, 2024

Manpower Korea, the Korean unit of global human resources service company ManpowerGroup, said Tuesday that its recruitment process outsourcing, or RPO, service has seen robust growth since its debut 10 years ago. When the RPO service was first introduced in Korea in the early 2000s, they mainly served multinational companies entering the Korean market. But the service has secured a bigger footing here in recent years as both domestic and global companies struggle to respond effectively to drasti

Industry Oct. 15, 2024

인력 파견 전문기업 맨파워코리아는 15일 자사의 채용 프로세스 아웃소싱(RPO) 서비스가 10주년을 맞이했다고 밝혔다. RPO 서비스는 전문 기관이 기업의 채용 과정 전체를 도맡아 효율적으로 관리하는 서비스이다. 맨파워코리아의 RPO 서비스는 채용 과정을 하나의 프로젝트처럼 운영한다. 10년 이상의 경력을 가진 전문가들이 고객의 요구에 맞게 팀을 구성하고 정해진 시간과 비용 안에서 프로젝트를 진행한다. 이를 통해 기업의 인사 담당자가 핵심 업무에 집중할 수 있게 돕는 등 기업의 전체의 전략적 목표 달성에 기여하고 있다는 설명이다. 맨파워코리아는 2014년 글로벌 반도체 기업 L사와 대규모 프로젝트를 진행한 이후, RPO 서비스 부문 매출에서 1,200%의 성장을 기록했다. 최근에는 미국의 3대 반도체 기업에서 일할 90명의 엔지니어를 채용하는 프로젝트를 진행 중이며, 3개월 만에 목표의 절반 이상을 달성했다. RPO 프로젝트를 이끄는 해리슨 김 수석은 “반도체 업계에서 리

한국어판 Oct. 15, 2024

South Korean bakery giant SPC Group announced Monday that it has nominated Executive Managing Director Lim Byung-sun as its new CEO. Lim, a business management specialist, has previously served as an executive at Shinsegae Group and its affiliates, including Shinsegae Casa and its department stores. SPC is set to appoint Lim as CEO by the end of this week. Lim will manage the group's business sectors including human resources, legal, corporate relations, compliance and public relations. Lim

Industry Oct. 14, 2024

Korean logistics company LX Pantos announced Thursday that its CEO Lee Yong-ho met with Marat Karabaev, Kazakhstan’s minister of industry and infrastructure development, in Astana last month, to strengthen logistics networks across Central Asia. According to the company, the consultation centered on enhancing cooperation on cargo transport along the Trans-Caspian International Transport Route. The TITR links Europe and Central Asia via the Caspian Sea, bypassing Russian territorial waters.

Industry Oct. 10, 2024

Korean travel platform operator Yanolja said Tuesday that it is ramping up global efforts to enhance its artificial intelligence-based travel solutions by securing extensive travel data. Its data solutions affiliate Yanolja Cloud Solution has recently relocated its headquarters to an information technology hub in Surat, India, to recruit local tech talent and advance its travel solutions. The decision comes as the Indian unit plays a key role in collecting travel data from numerous transactions

Industry Oct. 8, 2024