Articles by Moon Joon-hyun
Moon Joon-hyun
mjh@heraldcorp.com-
Kakao T to launch ride-hailing service in Asia, Middle East
The ride-sharing service Kakao T will be available in Australia, Taiwan, the United Arab Emirates, Jordan and Kuwait from next week, Kakao Mobility announced Friday. Users of the Kakao T app will be able to hail local taxis, premium sedans and midsize SUVs in the five countries from Nov. 30 onward, bringing Kakao's ride-hailing services to a total of 37 countries worldwide. The company said it also plans to enter the US market within this year. According to Kakao Mobility, the latest expans
Technology Nov. 24, 2023
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SK affiliates sign largest renewable energy deal in Korea
SK Group announced on Friday that nine of its affiliates have entered a long-term agreement to procure 537 gigawatt-hours of renewable energy annually from SK E&S, a clean energy provider within the group. The 20-year deal is the largest direct renewable energy purchase agreement, or PPA, ever in Korea, and is expected to cut 5 million metric tons of greenhouse gas emissions over two decades, the group said, equivalent to planting some 20 million pine trees nationwide. The size of the deal
Industry Nov. 24, 2023
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15 human rights groups urge BIE to reject Saudi Expo bid in final week
A coalition of 15 human rights groups has issued a plea to the 2030 World Expo organizer Bureau International des Expositions, imploring the members to reject Saudi Arabia’s bid on Wednesday, just six days ahead of the final decision. The group, represented by Democracy for the Arab World Now, called on the members to reject the bid from Saudi Arabia, citing the kingdom’s troubling human rights record. The appeal lays out a detailed dossier of human rights abuses in Saudi Arabia, arg
Economy Nov. 23, 2023
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T1's fourth LoL win to pump up valuation
T1, the world’s top League of Legends esports company, is anticipated to reach a higher valuation and near the financial break-even point next year after winning the 2023 World Championship title, SK Telecom’s investment arm and T1’s majority shareholder SK Square said Monday. This victory was T1's fourth World Championship title and follows their two Mid-Season Invitational wins, another international LoL tournament hosted by Riot Games. Formed as a joint venture between
Companies Nov. 22, 2023
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S-Tec System, Vietnam’s Military Bank partner on security services
S-Tec System, a South Korean security services provider, announced Monday that it has signed a memorandum of understanding with Vietnam's Military Commercial Joint Stock Bank. The company aims to capitalize on the Vietnamese bank's network, which includes over 300 branches and 1,000 unattended locations throughout Vietnam. The agreement was signed Friday at S-Tec's headquarters in Seoul, with S-Tec System CEO Lee Byung-hwa and Chairman Luu Trung Thai of the Military Bank in attend
Economy Nov. 21, 2023
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Hyundai Steel starts new campaign promoting recycled steel
South Korean steelmaker Hyundai Steel has launched a new environmental campaign with the slogan, "A future drawn by steel," as part of its commitment to ESG management, the company said Tuesday. The campaign slogan plays on the meaning of the word "green," which is pronounced '"geurin" in Korean. In Korean, "geurin" means "drawn." This initiative seeks to raise public awareness about the sustainability of steel, emphasizing its role in resou
Industry Nov. 21, 2023
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Korea draws W1.5tr in investments from US tech firms
South Korea has secured investment commitments from four major US companies, including General Motors, totaling 1.5 trillion won ($1.16 billion), following President Yoon Suk Yeol's visit to the US for the Asia-Pacific Economic Cooperation summit last week. These investments, spanning the automotive and semiconductor sectors, are expected to significantly boost South Korea's exports and reduce imports, contributing to an estimated annual economic impact of over 4.5 trillion won. The Ministry of
Economy Nov. 20, 2023
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G-Star 2023 explores untried genres, subculture scene
BUSAN -- Key game industry players, such as NCSoft and Netmarble, showcased their latest projects at the G-Star 2023 game exhibition held in Busan last week, delving into unexplored genres with high production values and top-notch graphics The event, hosted by the Korea Association of Game Industry and the Busan IT Promotion Agency, featured a record number of 3,328 booths with participation from 1,037 companies across 42 countries. Notably, NCSoft made a significant return after an eight-year
Industry Nov. 19, 2023
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NCSoft to tear loose from Lineage: CEO
BUSAN -- NCSoft CEO Kim Taek-jin declared the company's strategic shift from its traditional roots in Lineage, its series of massively multiplayer online role-playing games -- or MMORPGs -- to diverse gaming genres, responding to a downturn in earnings and a shift in gamer preferences. The CEO made this announcement during an unexpected appearance at the company's booth at G-Star 2023 gaming expo held last week in Busan. "Our objective is to delve into a multitude of gaming genres
Technology Nov. 19, 2023
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Zepeto metaverse plans to support Apple Vision Pro
BUSAN -- Naver Z, the metaverse subsidiary of South Korean internet giant Naver, is planning a version of Zepeto for Apple's first wearable headset device, embracing the US tech behemoth's concept of spatial computing. “We are preparing to showcase something special for headsets such as Apple's Vision Pro," Lee Seung-won, Nazer Z's developer relations director told The Korea Herald during a marketing talk at G-Star Game Conference 2023, part of the G-Star gaming ex
Technology Nov. 19, 2023
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SK to create world's first advanced plastic recycling cluster, breaks ground in Ulsan
South Korean chemical company SK Geocentric has started the construction of a new advanced plastic recycling cluster -- the first of its kind in the world -- in the southeastern city of Ulsan. With the new cluster, named the Ulsan Advanced Recycling Cluster, or ARC, the company aims to expand its presence in the eco-friendly plastic solution market as well as bolstering its response to escalating regulatory pressure and corporate demand for recycled plastics. The company held the ground-breaking
Industry Nov. 15, 2023
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Redbreast 15 Year Old whiskey debuts in Korea
Pernod Ricard Korea on Monday launched Redbreast 15 Year Old, a more aged and spicier variant of its Irish whiskey brand, targeting the evolving demand for non-Scotch whiskeys in the rapidly expanding domestic market. The world's second-largest wine and spirits seller previously introduced its Irish whiskey, Redbreast 12 Year Old, for the first time in Korea in September. While retaining the smooth character typical of traditional Irish pot still whiskey, the 15 Year Old brings a spicier pr
Consumer Nov. 13, 2023
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Kumho Petrochemical comits to net zero by 2050
Kumho Petrochemical Group has reiterated its corporate-wide commitment to enhancing environmental and safety measures while developing a sustainable management system to begin carbon-neutral growth by 2035 and achieve complete carbon neutrality by 2050. Kumho Petrochemical and its affiliates, including Kumho P&B Chemicals, Kumho Mitsui Chemicals, Kumho Polychem, Kumho T&L, and Kumho Resort, have coordinated through an internal ESG council to align on environmental and safety management
Industry Nov. 13, 2023
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HD Hyundai CEO promoted to vice chairman
South Korean shipbuilding and energy conglomerate HD Hyundai promoted Chung Ki-sun, the president and CEO of HD Hyundai, to vice chairman on Friday, as part of a leadership reshuffle that also included promotions for several other executives. Chung Ki-sun's tenure as president was marked by his role in steering the company through economic downturns over the last two years, especially in the shipbuilding sector. He was pivotal in developing ship sales and research initiatives, laying the gr
Industry Nov. 10, 2023
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Renault Korea's Busan plant to produce all-electric Polestar 4 from 2025
Renault Korea Motors said Friday it has signed a deal with Swedish carmaker Polestar and China's Geely Holding to produce the all-electric Polestar 4 at its Busan plant from the second half of 2025. Renault Korea has dedicated efforts since 2022 to prepare for the manufacture of high-end mid-size and semi-large electric vehicles. "Kicking off Polestar 4 EV production in Busan is a fresh start for us at Renault Korea Motors, reflecting our pledge to a forward-thinking approach. We'
Industry Nov. 10, 2023
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