Hyundai Glovis, a supply chain management arm under Hyundai Motor Group, said Thursday that it has launched an overseas corporation in Bangkok, as part of its business expansion strategy in the Southeast Asian market. Hyundai Glovis Logistics Thailand, a joint venture that has been formed with local auto parts manufacturers and logistics firms, will be responsible for creating synergy with its e...

To honor the United Nation’s World Bee Day, Hanwha Group said Thursday that it has created the country’s first solar beehive which has been designed with a photovoltaic low-carbon structure that uses electricity generated through solar panel. Hanwha Group said it has installed the solar beehive at the Korea National University of Agriculture and Fisheries (KNUAF) as a part of its pilot program. ...

By Lee Seung-ku ( seungku99@heraldcorp.com )

By Kim So-hyun ( sophie@heraldcorp.com )

SsangYong Motor Co. said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the carmaker. The Seoul Bankruptcy Court recently selected the consortium led by chemical-to-steel firm KG Group as the preliminary bidder for SsangYong Motor. The new auction comes two months after local electric bus maker Ediso...

US President Joe Biden is expected to start his three-day state visit this week with a tour of Samsung Electronics’ chip complex, according to industry sources on Wednesday. Biden will arrive in Seoul on Friday for summit talks with President Yoon Suk-yeol on Saturday. Upon his arrival at the Osan Air Base, he is reportedly heading directly to Samsung’s chip complex in Pyeongtaek, Gyeonggi Provi...

A man looks around a flour section at a discount store in Seoul on Wednesday amid growing concerns over possible grain price hike with India‘s wheat export ban.

South Korean skincare brand Siita said it has developed a new technology to speed up plastic decomposition, becoming the only zero-waste enterprise globally to treat its own plastic waste. Siita’s technology, unveiled in September, accelerates the decomposition process of plastic from 500 years to just 3 months, according to the skincare company. Celebrities such as Hollywood actor Jeremy Renne...

Posco Energy said it signed a deal with a Danish fund management firm focused on renewable energy infrastructure to work together on offshore wind power and green hydrogen business. The largest private energy producer in South Korea said it will cooperate with Copenhagen Infrastructure Partners on the offshore wind power business; supply chain including steel products for offshore wind power; gr...

South Korean automaker Hyundai Motor Co. said Wednesday it will launch the upgraded Palisade SUV in the domestic market this week amid the prolonged global chip shortage. The face-lifted Palisade comes with a 3.8-liter gasoline engine or a 2.2-liter diesel engine, and is priced at 39 million won-52 million won ($30,700-$41,000), the company said in a statement. Hyundai plans to ship the flagshi...

Global tech behemoth Samsung Electronics Co. was ranked as the best-managed company among South Korea's top 500 businesses in 2021 to retain the top spot for three years running, a corporate tracker said Wednesday. Samsung, the world's top memory chip and smartphone maker, obtained 766.9 out of 800 points in an assessment of high growth, investment, global competitiveness, job creation and four ...

Businesses remain cautious about anti-Chinese undertones of the US-led Indo-Pacific Economic Framework

A customer looks around a cosmetics section of a department store in Seoul. Manufacturers for health and beauty products have been under increasing pressure to raise product prices amid the prolonged Russian attack on Ukraine and intensifying concerns over Indonesia’s palm oil export ban.

Patricia Chun, general manager of WeWork Korea, said Tuesday that the company is considering launching its premium office service in the global market, driven by soaring demand for worker-friendly and customized official rental services. Launched on May 1, the WeWork premium service is available at its Seoul Square, Gangnam, Yeoiudo and Gwanghwamun branches. The firm plans to export the service ...

SEJONG -- A program aimed at introducing Korean food to foreigners kicked off Monday, the Ministry of Agriculture, Food and Rural Affairs said Tuesday. The program, which consists of a total of 20 food tours, will run between May and November this year in Seoul and across the country. Foreign residents and tourists can also learn recipes for a variety of Korean food, including traditional sauce...