Novelis opens $65m green aluminum plant in Ulsan

Novelis, the world’s largest aluminum recycler and a leading producer of rolled aluminum, announced Tuesday that it has begun operations at its new recycling center in Ulsan, advancing its circular aluminum production approach in Korea. According to the company, the Ulsan facility can produce up to 100,000 tons of low-carbon aluminum sheet ingot annually by processing a broad spectrum of aluminum scrap, ranging from beverage cans to automobile components and industrial materials. The project beg

April 15, 2025

Hyundai Motor taps ex-congressman to lead Washington office amid trade tensions

Hyundai Motor Group said Tuesday that it has appointed Drew Ferguson, a former four-term Republican congressman from Georgia, as the head of its Washington office, as part of a strategic move to navigate looming hefty automotive tariffs in the US. Effective May 1, Ferguson will assume the role of senior vice president of government affairs at Hyundai Motor Group, where he will represent the auto giant’s interests and actively engage with the US government and Congress. The group previously did n

April 15, 2025

Zyx Technology honors winners of first CAD design competition

The awards ceremony for the 1st ZyxCAD Design Competition was held on March 21 at the Grand InterContinental Seoul Parnas Hotel. Held under the theme of "Designing Tradition," the competition was co-hosted by Korean AI-based design platform Zyx Technology and its official distributor Thirautech. It invited university students to creatively reinterpret Korea’s cultural heritage using ZyxCAD, a domestically developed computer-aided design (CAD) software package. From a pool of nationwide submissio

April 15, 2025

KT completes Thai LLM project with Jasmine Technology

South Korean telecom giant KT announced Tuesday that it has completed a Thai large language model platform project in partnership with Jasmine Technology Solutions, the tech affiliate of Thailand’s Jasmine Group. The yearlong project makes KT the first Korean company to establish a comprehensive artificial intelligence infrastructure overseas. The initiative included building an LLM operations system and a graphics processing unit farm for AI computing and developing a Thai-specialized LLM model

April 15, 2025

Hyundai Motor to convert Indonesian landfill waste into hydrogen

Hyundai Motor will initiate its first overseas project to produce hydrogen from waste in Indonesia as it aims to build a hydrogen ecosystem in the Southeast Asian nation in collaboration with local partners, the Korean auto conglomerate said Tuesday. Hyundai Motor unveiled its plan to utilize the biogas extracted from the Sarimukti landfill near Bandung in West Java to produce hydrogen and carry out what it calls the Waste-to-Hydrogen, or W2H, solution. The Sarimukti landfill processes about 80

April 15, 2025

Koreans in their late 20s face worst job market in 12 years

South Korea’s young jobseekers are facing the harshest labor market in over 12 years, with the number of employed people in their late 20s dropping even more sharply than during the COVID-19 pandemic. The downturn — driven by a shrinking economy, a plunge in job openings, and a growing preference for experienced hires — is leaving many young Koreans locked out of work just as they’re trying to launch their careers. According to Statistics Korea, employment among people aged 25–29 fell by 98,000

April 15, 2025

Google weighs cheaper YouTube plan for Korea

US tech giant Google is reportedly reviewing the introduction of YouTube Premium Lite in Korea, a low-cost subscription plan that offers ad-free video streaming without the full suite of Premium features, according to industry sources on Tuesday. Google Korea has recently proposed the introduction of the Premium Lite plan to the Korea Fair Trade Commission as part of a voluntary corrective measure, sources said. The proposal comes as the antitrust regulator investigates allegations that Google l

April 15, 2025

Auto exports edge up in March despite falling demand for eco-friendly cars

South Korea's car exports inched up from a year earlier in March, driven by rising demand from Asian nations, data showed Tuesday. The value of outbound shipments of automobiles came to $6.24 billion last month, up 1.2 percent from a year earlier, according to data from the Ministry of Trade, Industry and Energy. It marked the second consecutive month of increase and the second-highest export value ever for any March, it added. In terms of volume, however, exports fell 2.4 percent on-year to 240

April 15, 2025

Hyundai Steel, union sign wage deal after walkout, facility suspension

Hyundai Steel Co., South Korea's second-biggest steelmaker, said Tuesday it has signed a wage deal with its labor union for the year of 2024 following multiple strikes and the temporary suspension of a production facility. The company has agreed on an increase of 101,000 won ($71) in monthly basic salary and 4 1/2 months of salaries plus 10.5 million won in bonuses, a company spokesperson said. The union said it signed what it called an "unsatisfactory" deal as an ongoing global trade war, a pro

April 15, 2025

Container shipping costs on S. Korea-US route fall for 2nd month in March

Container shipping costs from South Korea to the United States fell for the second consecutive month in March, the customs agency said Tuesday. The average shipping cost for a 40-foot container from South Korea to the US West Coast dropped 13.1 percent from a month earlier to 5.36 million won ($3,754) in March, according to data from the Korea Customs Service. Shipping costs to the US East Coast also declined, falling 6.4 percent to 6.17 million won during the same period. Average shipping costs

April 15, 2025

Seoul shares open higher tracking overnight Wall Street gains

South Korean stocks opened slightly higher Tuesday, moving in line with overnight US stock gains over eased concerns over President Donald Trump's tariff measures. The benchmark Korea Composite Stock Price Index rose 11.07 points, or 0.45 percent, to 2,466.96 in the first 15 minutes of trading. Overnight, Wall Street closed higher following Trump's announcement of an exemption from reciprocal tariffs for smartphones, computers and other electronics over the weekend. The S&P 500 gained 0.79 perce

April 15, 2025

Dongwon to merge food units in global expansion drive

Dongwon Group announced Monday that its holding company, Dongwon Industries, will acquire full ownership of its food affiliate, Dongwon F&B, and merge it with three other domestic and international food subsidiaries into a single division, a move aimed at unifying operations and boosting its global push. At a board meeting held the same day, Dongwon Industries and Dongwon F&B endorsed a planned stock swap agreement under which Dongwon Industries will issue new common shares to Dongwon F&B shareh

April 14, 2025

[Photo News] Hana Social Venture University

Hana Financial Group Chairman Ham Young-joo (right) poses with Kwangwoon University President Cheon Jang-ho at the school’s campus in Nowon-gu, northeastern Seoul, on Friday, after signing an agreement to collaborate on boosting regional employment. Kwangwoon University has joined the “Hana Social Venture University” program — the group’s flagship social initiative aimed at fostering local talent by developing region-specific business ideas in partnership with universities. Around 30 universitie

April 14, 2025

Seoul shares rise nearly 1% on eased tariff woes; won sharply higher

South Korean stocks ended nearly 1 percent higher Monday, led by gains of semiconductor and battery shares amid eased woes over the US administration's sweeping tariffs. The Korean won soared to a four-month high against the US dollar. The benchmark Korea Composite Stock Price Index gained 23.17 points, or 0.95 percent, to close at 2,455.89. Trade volume was a bit slim at 474.1 million shares worth 6.56 trillion won (US$4.61 billion), with winners beating losers 634 to 255. Retail investors boug

April 14, 2025

Incheon Airport to consult on Poland’s new air hub

Incheon International Airport Corporation announced Monday that it has signed a contract with Poland’s Centralny Port Komunikacyjny, or CPK, to provide Phase 2 operational consulting services for the European country’s new airport project. The six-month contract, running from April to September, follows the successful completion of Phase 1 consultation, which the Korean airport secured in 2023. The new Polish airport, led by CPK, is a major infrastructure initiative aimed at replacing the existi

April 14, 2025