Korea Gas Corp. (KOGAS) will annually import 1.58 million tons of LNG from the United States for up to 18 years starting from 2025. The total import bill amounts to about US$10 billion.On Sept. 23 (local time), Chae Hee-bong, president of KOGAS signed a long-term U.S. LNG purchase agreement with Rob

With the implementation of the IMO 2020 three months away, shipbuilders, refiners and steelmakers are scrambling to benefit from the regulatory change in vessel fuel. The International Maritime Organization (IMO) will lower the sulfur cap for vessel fuel from the present 3.5 percent to 0.5 percent f

Hyosung Corp. announced on Sept. 23 that it has started a full-scale commercial operation of its first Indian spandex plant located in the Auric Industrial Complex near Aurangabad Industrial City in Maharashtra. The plant is capable of producing 18,000 tons of spandex annually and covers an area of

Lotte Group is selling its financial subsidiary, Lotte Capital, to its Japan-based subsidiary. Accordingly, the group has sold all of its financial subsidiaries to meet the regulatory requirements of the Monopoly Regulation and Fair Trade Act.Lotte Corp., the holding company of Lotte Group, said on

Orion Corp.’s overseas business is showing obvious signs of recovery.A consensus estimate of the company’s consolidated operating profits in the third quarter is 85 billion won (US$71.13 million), up 8.02 percent from a year earlier, according to financial market tracker FnGuide on Sept. 23. A conse

Doosan Heavy Industries & Construction announced on Sep. 22 that the Bintan 4 Thermoelectric Power Plant completion ceremony took place in Binh Thuan, Vietnam on Sep. 21. The ceremony was attended by Vietnamese Deputy Prime Minister Truong Hoa Binh, Electricity of Vietnam (EVN) Chairman Duong Quang

A steady rise in refining margins, a key indicator of oil refiners’ profitability, is raising expectations for an earnings improvement of domestic oil refiners in the second half of this year.The benchmark Singapore complex gross refining margin (GRM) stood at US$10.1 per barrel in the third week of

Hyundai Motor Group announced on Sept. 23 that it will officially open CRADLE Beijing in Beijing and accelerate cooperation with strategic partners in China to find new growth engines.CRADLE Beijing is Hyundai Motor Group's fifth global open innovation center after the Hyundai CRADLE Silicon Val

Kolon Life Science Inc. announced on Sept. 23 that the U.S. Food and Drug Administration (FDA) maintained its order to suspend patient enrollment for clinical trials on Kolon TissueGene’s gene osteoarthritis drug Invossa, whose permit as Korea’s first gene therapy drug had been revoked by the Korean

An increasing number of South Korean pharmaceutical companies are setting up R&D centers in Boston, one of the largest biotech hubs in the world, to accelerate new drug development based on more open innovation with American companies.For instance, Green Cross Corporation’s Boston office is schedule

Celltrion announced on Sep. 23 that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) gave an opinion in favor of the sale of Remsima SC on Sept. 20. The company requested the EMA 10 months ago to approve sales of the world’s first subcutaneous inflixim

Hyundai Motor Group will invest US$2 billion to set up a joint venture with top-tier U.S. automotive technology firm Aptiv PLC to commercialize autonomous driving technology.The group announced that it has signed an agreement with Aptiv for the joint venture in New York on Sept. 23 (local time).Apti

The South Korean government has decided to promote nuclear technology exports to revive the domestic nuclear power industry, which is having difficulty due to the nuclear phase-out policy.For starters, the focus of the nuclear export strategy will shift from construction of nuclear power plants over

The Korean Ministry of SMEs and Startups and the INNOBIZ Association announced on Sept. 20 that they jointly held the first Korea-Turkey SMEs Technology Matching Conference in 2019 at Marmara Hotel in Istanbul, Turkey from Sept. 17-18.At the conference, six Korean SMEs held business meetings with ap

French consumers picked Samsung Electronics as their most loved brand for two consecutive years.Samsung Electronics ranked first with 45.7 points in the 2019 French Brand Rating Index released by YouGov, a global public opinion and data company.Decathlon, a French leisure goods brand, came in second

Korea Midland Power (KOMIPO) has signed a memorandum of understanding (MOU) on business development and cooperation in the fields of liquefied natural gas (LNG) and renewable energy with global energy company Petronas of Malaysia, the state-run power company said on Sept. 18.Through MOU, the two sid

S-Energy Co., a Korean renewable energy solution company, is entering the solar power market in Hungary.The firm announced on Sept. 19 that it has signed a memorandum of understanding (MOU) with Profiszolar, the premium solar power installer in Hungary, to supply US$10 million (11.94 billion won) wo

Doosan Corp., the holding company of Doosan Group, held an investor relations (IR) session on Sept. 19 to present the business plans of the three companies to be created through a corporate spin-off.The firm has decided to spin off its fuel cell unit to create Doosan Fuel Cell and the material unit

The Korea Research-based Pharmaceutical Industry Association (KRPIA) has advised the South Korean government to improve the environment for clinicial trials of new cancer and rare disease treatments.The association announced on Sept. 19 that global pharmaceutical companies' clinical trials in Ko

42Maru, a startup specializing in question answering (QA) artificial intelligence is searching for outstanding global talent.The company has attended the "2019 Foreign Employment Fair" held at the COEX, Seoul.Along with this employment fair, 42Maru will also participate in the “11th International St