South Korea’s energy-to-retail conglomerate GS Group said Wednesday that it has published its first environmental, social and governance report which contains three key execution plans under a slogan of “Grow Sustainably, GS.” The company said the slogan illustrates the firm’s willingness to make long-term growth which is flexible to social changes in terms of its sustainability execution plans....

President Yoon underlines his pledge to establish national aerospace agency

Shops in Myeong-dong, which has been a popular shopping district in Seoul for decades, are seen vacant despite growing numbers of foreign tourists visiting Korea, Wednesday.

South Korea is expected to record this year its first annual trade deficit since the global financial crisis in 2008, the Korea International Trade Association said in a report released on Wednesday. The country is projected to post an annual trade deficit of $14.7 billion due to high oil prices, with $703.9 billion in exports and $718.5 billion in imports, KITA’s Institute for International Tra...

South Korean retail giant Lotte Mart said Wednesday it has adopted an artificial intelligence-based screening system for better quality control of fruit products, an industry first here. The AI screening system, using near-infrared light, collects and analyzes data from fruits ranging from weight and sugar content to water content and ripeness. The new technology also allows to detect internal ...

INCHEON -- GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it will launch the GMC brand in the second half, with the Sierra Denali set to be released as the brand's launch model in the Korean market. GM's decision to launch the GMC brand is part of the Detroit carmaker's multi-brand strategy in which the Korean unit produces compact SUVs in Korea and brings in large-siz...

Line Plus, the global arm of messaging app provider Line Corp., said Monday that it will implement a new work system called “Line Hybrid Work 2.0” in July, which includes guidelines on working remotely from abroad. Starting July 1, Line Plus employees will be able to work remotely from anywhere in the world that has a time difference of less than four hours with Korea, for up to 90 days. This w...

Samsung Electronics Co. is expected to announce mass production of 3-nanometer semiconductors next week, sources said Wednesday, beating its foundry rival TSMC in advanced chipmaking process. The next-generation 3nm chips will be built on the Gate-All-Around (GAA) technology, which Samsung said will allow up to 45 percent area reduction while providing 30 percent higher performance and 50 percen...

GOHEUNG, South Jeolla Province -- In its second attempt, South Korea successfully launched the nation’s first domestic rocket into orbit on Tuesday, a landmark step that opens a new era of homegrown space technology and lays the foundation for outer space excursion. After spending eight months on improving technical problems that caused an early shutdown of the third-stage rocket engine, the Nur...

Tight collaboration of all parties concerned is key to a rocket launch, as a minor technical glitch could botch years of efforts. Behind Tuesday’s successful launch of South Korea’s first homegrown rocket Nuri were the joint efforts of over 300 companies at home. Korea Aerospace Industries, based in Sacheon, South Gyeongsang Province, was the effective leader of the pack. KAI has been in charge...

The country is also planning its first lunar orbit project, titled Danuri, slated to blast off on Aug. 2 from Florida. Danuri’s objectives include identifying potential landing sites for future lunar missions, demonstrating and verifying space internet technologies and conducting scientific investigations of the environment, topography and resources on the moon. After the launch, the Danuri team...

Samsung holds first CEO meeting in 5 years amid widespread fears of economic downturn

South Korea’s homegrown space rocket Nuri is erected at the launch pad at Naro Space Center in Goheung, South Jeolla Province, Tuesday morning, waiting for its second launch trial in the afternoon. Nuri’s first attempt in October last year had ended in failure as it failed to put a dummy satellite into orbit.

LS Cable & System Asia, LS Group’s cable manufacturing unit, said Tuesday that it has delivered fiber optic cables manufactured in Vietnam to the country’s largest telecommunications operator Viettel. The latest deal with state-run Viettel comes amid soaring demand. LSCV had set up infrastructure and facilities for producing optical cables in Vietnam in 2015. Fiber optic cables, network cables w...

A sketch released on Tuesday shows the design concept of Hyundai Motor’s new electric vehicle Ioniq 6. Hyundai Motor said Ioniq 6 will have streamliner design typology called Electrified Streamliner, with simple lines and aerodynamic form, reflecting its commitment to fulfill both aesthetic and functional aspects of an EV. Built on the carmaker’s Electric Global Modular Platform which is develo...