Hyundai Engineering (HEC) set up a new division for nuclear power projects as it seeks to develop its own small modular reactors (SMR). What was previously a team has been expanded and elevated to a division, and more nuclear power specialists will join, the company said. In addition to SMRs, Hyundai Engineering plans to produce micro modular reactors and hydrogen; enter new fields such as deco...

Hyundai Engineering & Construction successfully remediated a large amount of dioxin-contaminated soil for the first time in South Korea. According to Hyundai E&C on Monday, the project of remediating 11,031 cubic meters of dioxin-contaminated land at Camp Market -- a US Army installation situated in Bupyeong-gu, Incheon -- was successfully completed after two years and 11 months of work. The co...

Ahead of Wednesday’s local elections, candidates are making their last-minute plea for votes, with some of them talking big to take advantage of big name companies and their huge investment plans unveiled recently. Politicians offering populist pledges is nothing new during election campaigns, but this year their rhetoric appears to have gained some weight as they come along with a series of new...

Buses are seen operating in central Seoul on Monday. Bus and taxi drivers are eligible for the COVID-19 cash handouts worth 3 million won ($2,400) as part of the government‘s 62 trillion won extra budget bill, which was approved by the parliament on the same day.

Government, science institutes, companies to strengthen cooperation to foster more chip professionals

The South Korean coffee industry has accumulated approximately 270 billion won ($216 million) worth of unspent stored value on prepaid cards and online coupons, said People’s Power Party lawmaker Yun Chang-hyun on Monday, citing a report from the Fair Trade Commission. About 92 percent of the unredeemed balance -- 250 billion won out of the 270 billion won -- came from Starbucks Korea, according...

As he took office in January, LS Group Chairman Koo Ja-eun vowed an “ambidextrous management” to maximize synergy between existing core businesses and new businesses for the future. “With advanced technology in electricity and materials in one hand, and future technologies such as artificial intelligence, big data and Internet of Things in the other, we will offer solutions of customer-oriented ...

South Korean internet provider SK Broadband has said it will broadcast movies recognized at the 19th Seoul International Eco Film Festival on its internet protocol television platform B tv starting Thursday. The movies screened at the festival will be broadcast exclusively on B tv and Mobile B tv platforms four times a day between June 2 and June 8. SK Broadband has been sponsoring the event for...

Once unthinkable, working from home in high demand by younger workforce that values performance over loyalty

Korean food company SPC Group also said Thursday that it has partnered with local traditional Korean makgeolli brewery house Seoul Jangsoo to launch a non-alcoholic makgeolli milkshake through SPC Group’s coffeehouse-to-bakery brand Paris Baguette. “Makgeolli is being rediscovered among the Millennial and Gen Z as a trendy drink,” said a Paris Baguette official, referring to customers in their 2...

South Korea’s manufacturing and retail conglomerates released a combined 115 trillion won ($90 billion) investment plan on Thursday to achieve low-carbon digital transformation and create new jobs, joining a relay of announcements heralding a business-friendly new administration. Steelmaking giant Posco Group said it would invest 53 trillion won to pursue eco-friendly steelmaking by deploying el...

South Korean men shop at a convenience store more often than women, with men in their 20s visiting most often among all age groups of both men and women, at nine times a month on average, according to data released by Samsung Card on Thursday. In the first quarter this year, men using the firm’s card visited a convenience store 6.3 times a month on average, while women shopped there 3.9 times a ...

Big conglomerates' flurry of announcements seen as move to drive Yoon's call for private-led economic growth

Hyundai Steel said Thursday that it has set up its new and unique steel production system using an electric furnace called Hy-Cube, with a goal to produce low-carbon, high-quality steel products toward 2030. Hy-Cube refers to Hy3 or Hyundai Hydrogen Hybrid, a process of melting raw iron material to remove impurities when adding new components by using a new electric furnace concept called Hy-Arc...

Hanwha Solutions CEO Kim Dong-kwan attended the World Economic Forum in Davos, Switzerland, as the only entrepreneur among President Yoon Suk-yeol’s delegation, the energy-to-material firm said Thursday. During the four-day forum which started Monday, Kim met with Daniel Yergin, vice chairman of S&P Global, and discussed the Russia-Ukraine war’s impact on the energy industry and geopolitical dyn...