Korea Water Resources Corp. (K-water) announced on Nov. 24 that it has signed a memorandum of understanding with the American Water Works Association (AWWA) on the promotion of technical cooperation in the water supply sector.The agreement aims to build a sustainable cooperation system between the t
Korean petrochemical companies are focusing on battery recycling as a post-chemical growth driver. The new business is expected to grow rapidly to 600 trillion won by 2050Major petrochemical companies such as LG Chem, POSCO Chemical, Cosmo Chemical, Hanwha Solutions, and OCI are scrambling to advanc
SK Inc. is expanding its investment portfolio for sustainable food, a promising next-generation food sector, as part of its focus on advancing green businesses aligned with environmental, social and governance (ESG) principles.The company announced on Nov. 24 that it has invested approximately US$7
Huawei has signed a global commitment to join the International Telecommunication Union's Partner2Connect digital alliance, which will bring connectivity to about 120 million people in remote areas in more than 80 countries by 2025.Liang Hua, chairman of Huawei, announced the decision at the com
UNESCO Assistant Director-General for Education Stefania Giannini has said digital technologies, geared toward inclusion and equity, could transform the future of school systems and learning.“Harnessing technology and changing education models is imperative,” Giannini said as she addressed a side ev
Pernod Ricard Korea, the Korean unit of the global wine and spirits company Pernod Ricard Group, has donated 28 iPads to the Yurak Social Welfare Center in Jung-gu, Seoul in an attempt to help strengthen digital literacy among neighbors excluded from online classes due to a lack of IT devices.The iP
LG Electronics has applied for a trademark related to the virtual companion animal business in the United States.The company filed for the registration of “PETAVERSE” as a trademark with the U.S. Patent and Trademark Office (USPTO). PETAVERSE is a compound word of pets and the metaverse. The idea is
Daewoong Pharmaceutical’s “SAY PAIN!” campaign nabbed the top prize in the international PR sector at KPRA Awards 2022 hosted by the Korea PR Association (KPRA) on Nov. 9.The “SAY PAIN!” campaign is a social contribution campaign spearheaded by Daewoong Pharmaceutical in Indonesia. It aims to contri
Grape Lab, an eco-friendly social venture supported by SK innovation, has been selected as an impact startup in the Web Summit 2022, Europe’s largest technology show.SK Innovation said on Nov. 9 that Grape Lab participated in the Web Summit held in Lisbon, Portugal from Nov. 1 to 4. The company open
SK Group and the Korean Committee for UNICEF jointly held the 2022 Child-Friendly Enterprises Forum at the Kensington Hotel in Yeouido, Seoul on Nov. 7 to explore ways to integrate children's rights into business.The group has been leading the Happy Alliance, a social contribution network commit
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY, target price of KRW250,000 We maintain BUY and TP of KRW250,000 on Naver. In 3Q22, focus defending OPM via cost efficiency despite difficult operating conditions. Also, Naver has been aggressive
Lotte Mart announced on Nov. 6 that it opened the Food Innovation Lab in Indonesia in October this year to develop home meal kits, including Korean meals, for local consumers.The lab is modeled after the Food Innovation Center in Korea, which is led by chef Kang Leo. It is designed to drive a K-food
SK On, a global leading electric vehicle (EV) battery manufacturer, announced on Nov. 6 that it signed a lithium hydroxide supply deal with Chile’s SQM.The move follows the company's recent deals with Australian lithium developers and will further strengthen its supply chain for critical battery
The Ministry of Employment and Labor announced on Oct. 31 that the maximum special overtime work applied to South Korean workers at overseas construction sites has been adjusted from 90 days to 180 days a year.According to current laws, their weekly overtime work cannot exceed 12 hours. The special
KT announced on Oct. 27 that Global AI Conference 2022 was successfully held online on Oct. 26. The conference was hosted by the AI Task Force (AI TF) of the Strategic Cooperation Framework Agreement (SCFA), a consultative body of the three key telecom operators in Korea, China and Japan -- KT of
Korea Forest Service Minister Nam Sung-hyun took office in May, declaring forest renaissance. The following is Business Korea’s recent interview with him. -- Ed.What is the concept of forest renaissance?The Korea Forest Service is making various efforts to advance forest management, which is to maxi
Celltrion Healthcare is in dispute with the U.K. government over a "penalizing rebate."The U.K. government introduced the Voluntary Scheme for Branded Medicines Pricing and Access (VPAS) in 2019, which requires pharmaceutical companies to pay a percentage of their net sales of certain products to th
Korea Trade Insurance Corp. is holding the 46th OECD Environmental and Social Practitioners’ Meeting, jointly with the Export-Import Bank of Korea, at the Westin Chosun Hotel in Seoul on Oct. 24-25. The corporation holds the meeting to mark its 30th anniversary, which falls on Oct. 24.This two-day e
Pernod Ricard Korea announced on Oct. 21 that it has selected Ananti's Hawkeye team, which has planned the ‘Cabinet de Poisson’ project with the aim of a sustainable environment, as the winner of the ‘Aberlour Craftsmanship Award’.‘Cabinet de Poisson’ is Ananti's eco-friendly project for a s
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY but cut target price 18.2% (KRW44,000→KRW36,000) We cut our TP by 18.2% (KRW44,000→KRW36,000) to accommodate a 10.6% downward revision to 2022E OP on increased costs (accounting rule changes) and