LG Electronics announced Monday it has joined RE100 initiative to go net zero by 2050. The RE100 initiative, introduced by The Climate Group in partnership with the Carbon Disclosure Project in 2014, sets a 2050 target for using 100 percent renewable electricity. Global tech giants such as Samsung Electronics, Apple, TSMC and Sony have already joined the initiative. LG Electronics said it will gradually increase the percentage of renewable electricity usage to 60 percent by 2030, and then to 90

LG Electronics said Thursday it has kicked off mass production of electric vehicle chargers, officially tapping into the burgeoning market. Celebrating the production of its first EV charger, the company introduced four new models in the works at a ceremony at LG Digital Park in Pyeongtaek, Gyeonggi Province, Wednesday. During the event, the company announced the rebranding of its EV charger affiliate AppleMango to HiEV Charger. “The start of EV charger production marks a significant miles

GS25, the leading convenience store chain in South Korea owned by GS Group, said Tuesday it is launching an artificial intelligence-developed alcoholic beverage -- a first globally -- this week. GS25 has partnered with Brewguru, a startup brewing company, to apply AI-based knowledge in developing and introducing a whiskey highball beverage called AskUp Lemon Sparkling Highball. This offering is the world's first alcoholic drink that incorporates AI’s expertise into its decision-maki

The final puzzle piece for Hanwha Group's ambitions in becoming a global defense company has fallen into place. With antitrust regulators approving the acquisition of Daewoo Shipbuilding and Marine Engineering, the group's business operations now span all three areas of air, land and sea. Hanwha, whose core businesses are its aerospace and defense systems, previously tried to acquire DSME in 2008 with Hanwha Group Chairman Kim Seung-yeon leading the takeover. But the global financial c

Matrixport's Prime Brokerage clients can leverage all-in-one analytics dashboard by SignalPlus to generate alpha through options SINGAPORE, April 18, 2023 /PRNewswire/ -- Matrixport, a global digital assets financial services provider, and SignalPlus, a leading options analytics and advanced trading software platform, announces a flagship partnership to provide Matrixport Prime clients access to SignalPlus' all-in-one dashboard via Matrixport Prime account credentials. This new par

More than half of major listed firms in South Korea saw their financial soundness worsen in 2022 amid high global interest rates and inflation, data showed Monday. The debt-to-equity ratio of 56 out of the 106 listed companies belonging to the country's top 10 business groups increased last year from a year earlier, according to the data from the Korea Exchange. In particular, as many as 21 companies had a debt ratio of 200 percent or higher. The data is based on those firms' separate

South Korean oil refiners are turning to eco-friendly energy and searching for future growth engines to cope with the rise of electric vehicles threatening the current business model of traditional gas stations. According to the Korea Energy Economics Institute’s report on the oil industry’s countermeasures in regard to electric mobility, the number of gas stations in South Korea is expected to drop to 2,980 in 2040 to maintain the level of operating performance to keep their busines

Energy-to-construction conglomerate GS Group said Tuesday it has hung banners supporting Busan’s bid to host the 2030 Expo outside the office buildings of its key affiliates. The group hung a large promotional banner at the entrance of the main gate of GS Tower, its headquarters in Yeoksam-dong, southern Seoul, while covering the outer wall of the landmark with a separate banner containing the phrase “World Expo 2030, Busan Korea.” The Grand Seoul Building, the office building

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