Posco International, the trading and energy arm of Posco Group, announced Monday that its local subsidiary has completed the first gas processing plant in Queensland, Australia. In April 2022, Posco International acquired Senex Energy together with Hancock Prospecting. It aims to triple Senex's annual natural gas production from 20 petajoules to 60 petajoules, enough to produce approximately 1.2 million metric tons of liquefied natural gas. Senex Energy has initiated commissioning tests for

Industry Nov. 25, 2024

By Kim Wan-ki Drivers instinctively reach for their seat belts, whether they’re off to work in the morning or heading out for a weekend picnic. According to a 2023 traffic culture index survey, seat belt usage in South Korea reached approximately 85 percent, which reflects the belief that seat belts are an essential safety device protecting drivers from potential accidents. Then, what is the equivalent of a seat belt for export enterprises? How can they safeguard their innovative technol

Industry Nov. 25, 2024

Korean Air has introduced a special flight schedule for customers wishing to redeem mileage points for trips to Jeju Island. Mileage users will have preferential booking access for three days: Dec. 28, Dec. 30, and Jan. 1. Reservations open Thursday, and customers can join the event through the airline’s official website or mobile app. The promotion applies exclusively to flights between Gimpo and Jeju Island. The flight from Gimpo Airport will depart at 1:40 PM, arriving at Jeju Airport a

Industry Nov. 21, 2024

LS Cable & System, a leading Korean cable manufacturer, is bolstering ties with global infrastructure investors to supply its submarine cables for floating offshore wind power projects in Ulsan. According to the company on Thursday, LS signed a letter of intent with Copenhagen Infrastructure Partners, a global investment firm specializing in the renewable energy sector. CIP’s project company, Haewoori Offshore Wind, plans to develop a large-scale floating wind park with a capacity of 1

Industry Nov. 21, 2024

South Korean design software developer Zyx Technology announced Tuesday that it has signed a memorandum of understanding with Jeonbuk National University to nurture future software talent in North Jeolla Province. Under the partnership, ZYX Technology plans to offer ZYX CAD licenses worth a combined 1 billion won ($720,000) over the next three years, while carrying out research and development in the AI software sector. ZYX CAD is a versatile computer-aided design software that leverages multipl

Industry Nov. 19, 2024

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