Hyundai Motor Co. said Monday it has restarted production at a local plant on the resumed supply of electronic components. Hyundai Motor halted the Asan plant from Sept. 15-17 due to a lack of chip parts, resulting in production losses of 3,000 vehicles, the company said in a regulatory filing. The 300,000-unit-a-year Asan plant produces the Sonata sedan and the Santa Fe SUV. Previously, the Asan plant suspended operations on Sept. 9 and 10 due to the parts problems and from July 13 to Aug.

　Luis Chavit Singson, chairman of the Philippines’ LCS Group of Companies, sees a lot of business potential on South Korea’s eastern coast, having recently committed $100 million investment in a residential, commercial and resort development project there, the group said on Sunday. 　LSG Group recently announced its investment by 2025 in the Mangsang District 1 development project in the East Coast Free Economic Zone (EFEZ), its first such project in Korea.  　The tycoon, who

　SK Functional Polymer is a Paris-based subsidiary of petrochemical company SK Geo Centric that produces thermoplastic materials used in packaging and automotive industries. 　Pascal Sauvaire, chief operating officer of SK Functional Polymer, says the most important thing for the company is “to stay ahead of the curve in terms of green technology, trends and solutions.” 　“Recycling and the green economy have been the main trends in the packaging industry for some time,”

With centimeter-level precision, Korean Positioning System to bring software independence in space, executive says

From product browsing to technical support, LG Chem’s integrated digital sales platform “LG Chem On” allows customers to find the right materials they need with just a few clicks. Launched June 1, the platform makes the complicated process of business-to-business procurement as easy as ordering groceries online. Before, clients of LG Chem, such as manufacturers of home appliances or automobile parts, had to first register by email to access product information, then meet w

Samsung Electronics and Harvard on Sunday introduced a new approach to mimicking the mechanism of a human brain on a memory chip. In a paper published in Nature Electronics, Samsung engineers and Harvard researchers explained how to create memory devices that can better mimic the unique computing traits of a human brain -- low power, facile learning, adaptation to environment and autonomy and cognition. The paper suggests copying the brain’s neuronal connection map using nano-electrod

South Korea's full service carriers, including Korean Air Lines Co., are predicted to post strong earnings in the third quarter of the year on the back of a rise in air cargo rates, analysts said Sunday. In a consensus estimate of 10 analysts by Yonhap Infomax, the financial news arm of Yonhap News Agency, Korean Air is forecast to record 176.8 billion won ($150 million) in operating profit in the July-September period, a turnaround from an operating loss of 31.4 billion won in the same period a

A Seoul district court has ruled Samsung Securities Co. must compensate investors for half of their damages incurred due to a 2018 dividend error by an accidental stock issuance, judicial sources said Sunday. The Seoul Central District Court recently ruled partially in favor of three investors who filed damages suits against the brokerage firm for the "fat-finger" error caused by an official at the firm on April 6, 2018. If the ruling is confirmed, Samsung Securities must give between

LG Uplus Corp., a major South Korean mobile carrier, said Sunday it will offer Disney+ through its internet protocol television (IPTV) platform as the flagship streaming service from US media giant Walt Disney Co. is set to launch in the country in November. The carrier said it has signed a deal with Walt Disney Company Korea so that Disney+ will be accessible from its U+tv platform, strengthening competitiveness against rivals KT Corp. and SK Telecom Co. LG Uplus already bundles Netflix with it

Samsung Electronics Co. is reinforcing its supply chain in Asia to meet increased demand of its products amid the pandemic, industry insiders said Friday, as the South Korean tech giant eyes to build more plants and expand its workforce. Samsung is currently building a TV manufacturing plant in Karachi, Pakistan. It is expected to be in operation in the fourth quarter of the year and produce 50,000 units annually. The news was recently revealed by Abdul Razak Dawood, adviser for commerce and

Natural gas shortage in Europe spills over to South Korea as oncoming winter spurs fuel stockpiling

South Korea's leading internet-only lender Kakao Bank said Thursday its customer number has surpassed the 17 million mark nearly four years after its launch. Kakao Bank, led by Kakao Corp., the operator of the country's dominant messaging app KakaoTalk, said its customers numbered 17.17 million as of the end of August. Kakao Bank said slightly over 15 million customers have accounts at the online lender, with 2.15 million people using its services. Kakao Bank has achieved the milestone four year

The Korea Electric Power Corp. (KEPCO), South Korea's state-run utility firm, announced Thursday it plans to raise the electricity rate in the fourth quarter of 2021 to reflect the hike in the global price of resources. KEPCO said it plans to terminate the discount of 3 won ($0.0025) per kilowatt-hour, which has been applied since the first quarter, in October, effectively raising costs for households. Under the new rates, an average four-member household is expected to pay 1,050 won extra eve

A global shortage of chips used in autos is expected to have a limited impact on third-quarter earnings of South Korea's top two carmakers Hyundai Motor Co. and Kia Corp., a market tracker said Thursday. The market consensus for Hyundai's operating profit amounts to 1.78 trillion won ($1.51 billion) for the July-September period, according to an analysis by Yonhap Infomax, the financial news arm of Yonhap. Yonhap Infomax has analyzed earnings forecasts for the leading automakers, which 17 loca

This is the second installment in a series of interviews with executives of Korean companies with space ambitions. -- Ed.  About a month from now, South Korea will launch its first homegrown rocket “Nuri.” 　 A successful launch of the domestically made space launch vehicle is expected to herald a new space era for the country, where government-led programs transition to market-oriented ventures, with a key hindrance -- the decades-old Korea-US missile guidelines that put curb