Hyundai Engineering said Tuesday that it is planning on expanding its corporate social responsibility projects to support the disabled and low-income households. Under the plan, the firm, which has been conducting charity drives with the Goodwill Store since 2017, a rehabilitation facility for the disabled, will provide educational services, repair low-income residents’ houses and establish a community center for Koryoin, or ethnic Koreans living in Central Asia. "Hyundai Engineering

South Korea’s second-largest steelmaker Hyundai Steel said Thursday it would expand the product lineup of its earthquake-resistant structural steel, branded as H Core. H Core was launched in 2017 to include materials used for earthquake-proof designs such as rebar and section steel. Through the recent expansion, the steelmaker will incorporate other materials that can be used throughout the construction process such as cold and hot rolled steel, steel plates, and steel pipes. The steelmake

X-widget aims to globalize S-Members, use revenue to reduce plastic waste

South Korean grandparents gifted their grandchildren aged one or under around 99.1 billion won ($68.8 million) last year, a recent report showed Monday. According to a report based on data from the National Tax Service, the total amount of financial gifts transferred to children up to a year old from their grandparents last year jumped approximately threefold compared to 2020. The case where grandparents who gift financial assets to grandchildren, those who are more than one generation below tha

South Korean auto parts and mobility solution maker Hyundai Mobis said Monday that it has developed a 5G-based communication module for cars, a core part for autonomous driving and connected car systems that enables real-time, large-volume data processing. According to Mobis, the new module combines communication and memory functions, as well as a radio frequency circuit and GPS, based on ultra-high speed, ultra-low latency and hyper connectivity technology. The company will apply this 5G comm

GS Group's convenience store chain GS25 said Monday it has opened its 100th outlet in Mongolia since its entry into the East Asian country 16 months ago. GS25 aims to expand the number of outlets in Mongolia to more than 500 by 2025 by launching more customized food products. For its expansion in Asia, the company entered Vietnam in 2018 and currently operates 186 outlets in the Southeast Asian country. BGF Retail's CU was quick to enter the Mongolian convenience store market. CU opene

Antitrust regulators in the United States and Britain may decide next month whether to approve a deal by South Korea's largest carrier Korean Air Lines Co. to buy its smaller rival Asiana Airlines Inc., industry sources said Sunday. Currently, antitrust regulators of five nations, including the European Union, China and Japan, are reviewing Korean Air's combination with Asiana. The company has received approval from nine other countries, including South Korea. Seoul's regulator gave conditiona

South Korea is expected to post a record high trade deficit of nearly $50 billion this year due to high global energy costs, a report by a private think tank showed Sunday. The country's trade deficit is likely to reach around $48 billion for this year, the largest-ever shortfall since related trade data was compiled in 1964, according to the report by the Korea Economic Research Institute (KERI). The estimated deficit would more than double the $20.6 billion in trade deficit logged in 1996,

Expanding economic ties between South Korea and China is one of top priorities the Chinese Communist Party will discuss at its October congress, Chinese Ambassador to South Korea Xing Haiming said Thursday. “The economic ties bringing the two countries closer than ever should be a stepping stone to enhanced cooperation on supply chains,” Xing told a forum hosted by the Korea International Trade Association to celebrate 30 years of the Korea-China diplomatic ties. Steps China plans to

  LG Group Chairman and Chief Executive Officer Koo Kwang-mo called on some 30 executives across Korea's fourth-largest business group to define the future of customer experience, and the start of it could be identifying who their future customers will be. "LG's key to having an upper hand in the future lies in our unique customer experience, products, solutions and brand value," Koo told executives at a workshop with executives on Thursday in Gwangju, Gyeonggi Province. "Thi

Korean Air Lines Co. said Friday it has signed a five-year deal with Royal Dutch Shell plc. to purchase sustainable aviation fuel (SAF) from the British firm beginning in 2026 to help combat climate change. SAF is non-conventional aviation fuel derived from alternative raw materials, such as cooking oil waste, household waste and industrial waste gas. SAF has emerged as a key carbon reduction tool in the aviation industry to cope with global climate change as it may reduce carbon emissions by up

Volvo Construction Equipment is betting big on its first full-electric excavator ECR25 Electric to take the lead in the construction equipment industry’s nascent but promising transition toward electromobility, according to its Asian chief on Wednesday. “The Korean market already has developed telecommunications infrastructure, and rapidly accepted electric private vehicles during the last few years, so the market also seems to have great potential in case the government strongly sup

Business leaders and experts called for a more balanced approach to regulating the blockchain industry more effectively during a seminar hosted by the American Chamber of Commerce in Korea in Seoul on Thursday. Dunamu CEO Lee Sir-goo criticized the Korean government for putting too much regulatory focus on cryptocurrency assets and their trading even though they are just the “tip of an iceberg.” “We have the technology to provide platforms for token trading and we have the tech

A giant yellow rubber duck, created by Dutch artist Florentijn Hofman, sits on Seokchon Lake in Songpa-gu, southeastern Seoul, Thursday. The art installment, which has returned to Korea after eight years, will be on public display until Oct. 31.

  Hyundai Motor Group will supply 1,700 hydrogen fuel-cell cars to Jeju Island by 2030 as part of joint efforts to build a green hydrogen ecosystem in the country's resort island. A large green hydrogen production facility is planned to be built in Jeju by 2026. This would enable operations of hydrogen-powered vehicles on the island, according to the company, adding that it is working with Trade Ministry, Jeju Special Self-Governing Province, and Korea Southern Power Co. Currently, Jeju has