October 23, 2024

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EDITOR'S PICKS

• Companies 
  

  [KH Explains] Tesla’s vague robotaxi vision may let Hyundai-Waymo narrow gap

  Tesla’s recent unveiling of its Robotaxi prototype has generated some buzz, but the absence of critical details leaves room for competitors -- such as Hyundai Motor Group -- to potentially make up ground in the race toward autonomous vehicles. While Tesla remains a dominant force in electric vehicles and self-driving technology, its latest announcement raises as many questions as it does excitement. At the Tesla event named "We, Robot," held at Warner Bros. Studios in Burbank, C

• Companies 
  

  [From the Scene] S-Oil’s Shaheen project on track for 2026 completion

  ULSAN -- The construction site of S-Oil’s Shaheen project at its Onsan plant in Ulsan showed little to no activity Tuesday afternoon. Although the day’s workflow had seemingly stopped due to heavy downpours in the morning, the officials from S-Oil and Hyundai Engineering & Construction said the building process of the Shaheen project had already reached 40 percent completion.“Four major construction firms -- Hyundai E&C, Hyundai Engineering, Lotte E&C and DL E&

• Companies 
  

  Samsung SDI showcases next-gen battery lineup at mobility show

  Samsung SDI said Wednesday it has showcased its battery lineup, ranging from the prismatic battery P6 to the next-generation all-solid-state battery, at the Daegu International Future Auto & Mobility Expo. The company’s all-solid-state battery for electric vehicles boasts an energy density of 900 watt-hours per liter with a cathode-free structure. It is known to be theoretically safer than conventional lithium-ion batteries that use flammable liquid electrolytes. It sent samples to

• Companies 
  

  SK’s flu vaccine spreading across Asia

  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, Indonesi

• Companies 
  

  Gochujang heats up US as Americans seek out ‘swicy’ food

  As the new trend of spicy-sweet -- "swicy" -- flavors has been gaining ground in the US restaurant scene, Korean gochujang (red chile pepper paste) is gaining popularity. According to a Tuesday report from CNBC, more Americans are seeking bold flavors, and gochujang has become one of the key ingredients fueling this movement. “Common menu items have paired fruity flavors with chili powder or used sauces like hot honey and gochujang, a red chile (pepper) paste that’s a p

• Companies 
  

  SPC invited to Macron’s exclusive dinner in Paris

  South Korean bakery giant SPC Group said Wednesday that President Hur Jin-su attended a dinner banquet hosted by French President Emmanuel Macron at Elysee Palace in Paris earlier this week. He was the only Korean business leader to be invited to the exclusive event marking the 60th anniversary of SIAL Paris, one of the world’s largest food trade fairs. The dinner brought together around 40 global business leaders from major food and distribution companies, including the Netherlands&rsquo

• Companies 
  

  [Hello India] Hyundai Motor makes landmark stock debut in India

  Hyundai Motor India made a monumental debut on the Indian stock market, marking the largest initial public offering in India’s history and the first overseas subsidiary of a Korean company to go public in global markets. Hyundai Motor Group Executive Chair Chung Euisun and key executives, including Chang Jae-hoon, president and CEO of Hyundai Motor Company; Kim Un-soo, vice president of Hyundai Motor India; Tarun Garg, chief operating officer at Hyundai Motor India; and some 250 people fr

• Companies 
  

  Daewoo E&C eyes bigger footing in Indonesia

  Daewoo Engineering & Construction Chairman Jung Won-ju met with former Indonesian President Joko Widodo to explore new business ventures in the country, the company said Tuesday. The meeting took place at the presidential palace, Istana Merdeka, in Jakarta on Friday -- the last day of Widodo's term. During the meeting, Jung expressed appreciation for Widodo’s presidency which has enabled Indonesia to achieve steady economic growth through development policies related to social infrast

• Tech 
  

  LG Electronics unveils 2030 vision to boost corporate value

  LG Electronics on Tuesday announced a mid-to-long-term plan to boost the company’s corporate value, with a goal to achieve sales of 100 trillion won ($72.6 billion) by 2030. The new announcement comes about two months after it said it would participate in the government’s Value-up Program, being the first to do so among the country’s top 10 conglomerates. In a regulatory filing, the home appliance giant reiterated its Triple 7 goal, under which the company aims to see a 7 per

• Companies 
  

  Hyundai Motor chief vows full-support for India’s mobility innovation

  Expanding its footing in India, the world’s third-largest automotive market, Hyundai Motor Group Executive Chair Chung Euisun met with Prime Minister Narendra Modi on Monday to explore ways to enhance cooperation and advance the country’s mobility industry. After expressing gratitude for the Indian government’s continuous support to Hyundai Motor, Chung said during the meeting held at the PM’s office in Delhi, India, “Hyundai Motor Group has operated a successful

• Markets 
  

  KEF chief meets with EU ambassadors to beef up economic ties

   Member companies of the Korea Enterprises Federation met with ambassadors of the European Union on Tuesday to elevate economic cooperation and discuss strategies for embracing the shift in the labor market induced by industrial restructuring. Top officials from 23 EU member nations’ embassies in Korea, including Maria Castillo Fernandez, the ambassador of the EU, attended the business roundtable event hosted by the KEF held at a hotel in Seoul on Tuesday. Sohn Kyung-shik, chairman

• Tech 
  

  SKT launches web version of AI assistant A.

  SK Telecom, South Korea’s largest wireless carrier by membership, launched the web version of its multi-agent large language model service A. on Tuesday. A. was first introduced as a mobile application, as a personal AI assistant supporting users in managing their daily routines with essential functions including calendar, tasks and routine checkers. Now the AI service is accessible on various PC browsers, such as Chrome and Safari on PCs and tablet PCS, allowing users to use the servi

• Tech 
  

  Chung’s decade-long AI venture takes Hyundai Card to whole new level

  Ten years and over a trillion won in investment — an extraordinary commitment to technology that few local finance companies can match. Hyundai Card Vice Chairman and CEO Chung Tae-young has shown that this massive bet was not a gamble but a visionary investment positioning the company for the next era as the world accelerates into the age of artificial intelligence. Last week, Hyundai Card signed a landmark deal with Japan’s Sumitomo Mitsui Card Co. to export its proprietary AI so

• Companies 
  

  Hana Financial to lure seniors with Hana The Next

  Hana Financial Group said Tuesday that it is ramping up efforts to offer more tailor-made services for senior customers under the new brand name Hana The Next. The new launch, a collaboration of its key affiliates including Hana Bank, Hana Securities and Hana Insurance, will cover both financial and non-financial areas from retirement planning to consultations on inheritance and gift taxes to health care. The first customer is TV celebrity Kang Ho-dong, who has also been named as the brand amb

• Companies 
  

  APR expands K-beauty influence in Hong Kong

  South Korean beauty company APR announced Tuesday that it has strengthened its presence in Hong Kong’s competitive market through strong sales from both a pop-up store and a major e-commerce platform. Earlier this month, APR’s flagship skincare brand, Medicube, launched on HKTVmall, Hong Kong’s largest online shopping platform, generating 180 million won in sales within just three days. The brand’s success continued with live broadcasts featuring popular products like th

• Companies 
  

  Hyundai E&C to expand presence in South Australia

  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-z