Hyundai Motor Group announced on March 27 that it will hire 80,000 people and invest 68 trillion won in Korea over the next three years from this year to 2026. The plan is expected to create about 198,000 decent new jobs.The announced investment in Korea is a significant increase from the 56.2 trill
South Korean fashion company ShinWon Corporation (CEO: JJ Park) held an ESG Management Vision Declaration Ceremony to establish a mid-to long-term plan for ESG (environmental, social, and governance) and advance as a sustainable company.Through the declaration ceremony, ShinWon aims to publicly anno
Samsung Electronics released a new model of its premium air purifier, the Bespoke Cube Air Infinite Line, on March 25, featuring a new filter that does not require periodic replacement. The highlight of this model is the Infinite Line Filter.The Infinite Line Filter consists of a washable sterilizat
Samsung Electronics is reportedly pursuing the acquisition of Johnson Controls’ Heating, Ventilation, and Air Conditioning (HVAC) division with an investment of US$6 billion. This would mark the company’s first major merger and acquisition (M&A) since its US$8 billion acquisition of the automotive a
Korea Electric Power Corporation (KEPCO) and the Emirates Nuclear Energy Corporation (ENEC), through their joint venture operation company in the UAE, Nawah Energy, announced that Unit 4 of the UAE Barakah Nuclear Power Plant successfully connected to the UAE transmission network on March 23.The con
POSCO Holdings, the holding company of POSCO Group, elected Chang In-hwa as its chairman in a general shareholders meeting and a Board of Directors meeting at the POSCO Center in the Gangnam district of Seoul on March 21. Chang will serve a three-year term.Tough challenges are facing Chang, who star
LG Chem announced on the 20th that it will exhibit eco-friendly plastic materials made from carbon dioxide at Cosmoprof Bologna 2024, held on the 21st in Bologna, Italy, to secure customers.The Cosmoprof exhibition is the world’s largest beauty industry expo, with participation from approximately 3,
Hyosung Advanced Materials recently announced the establishment of the Future Strategy Office through an internal bulletin board, according to industry sources on March 19.Industry insiders speculate that Hyosung Group will expand new businesses such as new materials, bio materials, and secondary ba
HD Hyundai, the intermediate holding company for shipbuilding of HD Korea Shipbuilding & Offshore Engineering [009540], announced on March 18 that it has recently signed a construction contract for three ammonia carriers (VLAC) with an Oceanian shipping company. The total order amount is 490 billion
Kumho Petrochemical has sold its entire stake in the SB latex business, a joint venture with Rizhao Jinhu Jinma Chemical Co., Ltd., a Chinese company. The decision to exit the local business was made in response to China’s low-cost competition and overlapping environmental regulations.According to t
The Korea Chamber of Commerce and Industry announced on March 12 that it appointed Vice Chairman Cho Hyun-sang of Hyosung as the new chairman of the Korea-Vietnam Economic Cooperation Committee on March 11.The Korea-Vietnam Economic Cooperation Committee was jointly established by the Korea Chamber
The Export-Import Bank of Korea (Korea Eximbank) announced on March 7 that it has inked a memorandum of understanding (MOU) with the United States Department of Energy (DOE) for cooperation in the fields of supply chain and eco-friendly energy.Yoon Hee-sung, the president of the Korea Eximbank, sign
The Korean government will launch the Top 10 Promising Markets Trade Mission, which will lead strategic market exploration to help the country achieve US$700 billion, the largest ever, in exports this year,.The Ministry of Trade, Industry and Energy (MOTIE) announced on Mar. 5 that it will send the
The Ministry of Trade, Industry and Energy announced this year it will invest a total of 1.141 trillion won in research and development (R&D) for materials and components technology, focusing on creating a significant lead in advanced industries, stabilizing supply chains, and achieving carbon neutr
Since the beginning of this year, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has achieved over 50 percent of its 2024 annual order target within just two months.HD KSOE announced on March 4 that it had signed construction contracts for two medium-sized liquefied petroleum gas (LPG) carri
The Optionally Piloted Personal Air Vehicle (OPPAV) recently developed by the Korea Aerospace Research Institute (KARI) has logged a top speed of 240 kilometers per hour. The model is a single-seat Korean urban air mobility (UAM) aircraft.On Feb. 28, the OPPAV was busy taking flight tests at the Nat
Nawah Energy, a joint venture between Korea Electric Power Corporation (KEPCO) and the Emirates Nuclear Energy Corporation (ENEC), announced that the Unit 4 reactor of the Barakah Nuclear Energy Plant in the UAE successfully reached its first criticality on March 1.Following the acquisition of the o
Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units.The Onboard CCS demonstration unit is scheduled to undergo c
The government has come up with a detailed blueprint at the inter-ministerial level, encompassing export targets for key items such as semiconductors, automobiles, and plants, to achieve this year’s export goal of US$700 billion. It includes the largest-ever support measures to accelerate progress,
In the “2024 Most Admired Company in Korea” event organized by Korea Management Association Consultants (KMAC), S-OIL has been selected as the top company in the petroleum industry for eight consecutive years and as an All Star 30, representing the top 30 companies, for six consecutive years.The “Mo