KCCI stresses donations made voluntarily to fuel momentum

Small and medium-sized businesses in South Korea are demanding more foreign workers than the government plans to bring in next year to plug the growing skills shortage, data showed Wednesday. According to a survey conducted this month by the Korea Enterprises Federation, one of the five major business lobby groups, 55 percent of the 307 companies -- comprising those with fewer than 300 employees...

Hyundai Glovis, a logistics arm of Hyundai Motor Group, said Wednesday that it is entering the Malaysian logistics market in a strategic partnership with local logistic giant Lion Group, as part of efforts to expand its presence in Southeast Asia. The two sides signed a memorandum of understanding, under which the Korean firm will apply its smart logistic solutions to enhance efficiency of Lion'...

Yido, a South Korean firm that specializes in integrated management for infrastructure and golf courses, said Wednesday that it has signed a strategic partnership with US sports virtualization hardware and software company Full Swing to expand their presence in the Asian market. Established in 1986, Full Swing is the industry's top golf simulator maker and the official licensed simulator of the ...

South Korean manufacturer of electric vehicle chargers SK Signet said Wednesday it will start producing ultrafast 350-kilowatt electric vehicle chargers in the US from the second quarter of 2023. The plan comes after the company, an affiliate of the nation's second-largest conglomerate SK Group, revealed in October it was investing $15 million to acquire a new manufacturing facility in Plano, Te...

South Korea, Indonesia sign a total of 10 MOUs at G-20 to boost economic ties

Porsche Korea aims to strengthen its brand presence in esports as part of its marketing strategy to reach out to younger customers and let them experience the brand in a new way, according to the carmaker. In response, Porsche Korea signed a partnership agreement with the South Korean esports team DRX last year to support them for three years and host various esports activities. Team DRX, spons...

SK Geocentric, a chemical materials unit of South Korean conglomerate SK Group, said Tuesday it had secured loans worth 475 billion won ($358 million) from global banks, in recognition of the company's future plans for its environmental, social and governance initiatives. SK Geocentric held a signing ceremony for a three-year agreement for sustainability-linked loans with five global financial i...

To commemorate its 40th anniversary, South Korean clothing manufacturer Hansae is preparing to take a leap forward with its textile business by undertaking an efficient and sustainable working process, according to the company on Tuesday. "We aim to have the company reach one hundred years by discovering new growth engines with a creative and innovative corporate culture," said Kim Ik-hwan, vice...

Korean Air Co. said Tuesday that Britain's antitrust regulator has expressed concerns over its planned integration with smaller local rival Asiana Airlines Inc., citing monopoly worries on routes between the two countries. In a statement released Monday, Britain's Competition and Markets Authority said the buyout of Asiana by Korean Air could lead to higher prices for passengers flying between L...

South Korea’s Fair Trade Commission chief hinted Monday at tighter scrutiny of local platform operators like Kakao that enjoy an almost monopoly status. Referring to the recent nationwide meltdown of Kakao services following a fire at its main data center, FTC Chairman Han Ki-jeong said there is a need to effectively correct the adverse effects of monopoly power. “We will be revising regulation...

Business leaders seek cooperation, partnership opportunities for $500b Neom project

Jeju-grown golden kiwis also aim high to reduce dependence on New Zealand's Zespri

South Korean food and beverage giant SPC kicked off a new safety management committee on Monday as part of follow-up measures in response to the recent death of a young employee at its affiliated bread-making factory. According to the food giant, the new committee will supervise industrial safety, working conditions and social responsibilities across the facilities of all SPC subsidiaries, and a...

SK Group said Sunday it is ramping up efforts to bolster the role of outside board members in a way to help its board of directors play a more active role as the top decision-making body and elevate corporate value ultimately. After giving them more authority like evaluating CEO performance, the chip-to-energy giant said it is launching new measures to boost the board’s expertise and prowess acr...