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Thu, May 19, 2022 | 21:23

POSCO Energy to cooperate with CIP in wind power, green hydrogen businesses

POSCO Energy has signed a memorandum of understanding (MOU) with Danish renewable energy asset management company Copenhagen Infrastructure Partners (CIP) to cooperate in the offshore wind power and green hydrogen businesses, the company said Tuesday. The two companies plan to establish a supply chain to provide steel to the developing offshore wind power business, while crea...

Kim Jae-heun | 2022-05-19 17:06

Subway Korea appoints former Outback Steakhouse CEO as new head

Subway Korea has appointed former Outback Steakhouse Korea CEO Cho In-soo as its new country director, replacing former head Colin Clark who managed the sandwich restaurant franchise here for the past 15 years, the company said Wednesday. Clark left the firm in March.

Kim Jae-heun | 2022-05-19 17:06

Hyundai Glovis enters Thai logistics market

Hyundai Glovis established a joint venture in Thailand with a local automotive parts manufacturer and a logistics company there to accelerate efforts to expand its presence in the Southeast Asian market, the company said Thursday. The new company named Hyundai Glovis Logistics Thailand will operate 150 electric trucks to transport products to 7-Eleven convenience stores in Ba...

Park Jae-hyuk | 2022-05-19 15:31

Hanwha unveils Korea's first solar beehive

Hanwha Group has introduced Korea's first solar beehive - a photovoltaic low-carbon solar beehive that uses electricity generated from solar energy - to mark the UN's World Bee Day, it said, Thursday. As the damaging effects of the climate crisis compound across the globe, bee populations, nature's most important pollinators, have been rapidly declining. Through this project,...

Park Jae-hyuk | 2022-05-19 15:29

Business associations resume exchanges with Japanese counterparts

Korea's economic ties with Japan have shown signs of recovery recently under the presidency of Yoon Suk-yeol, after a long pause due to a diplomatic feud over historical issues and amid the COVID-19 pandemic, according to industry officials, Thursday. The Federation of Korean Industries (FKI) decided recently to push ahead with a meeting with the Japan Business Federation thi...

Park Jae-hyuk | 2022-05-19 15:08

Lotte Chemical to open US subsidiary for EV battery material production

Lotte Chemical will establish a U.S. subsidiary directing its electric vehicle (EV) battery material business there by the end of the first half of this year, as part of efforts to counteract the Joe Biden administration's “Buy American” policies, the company said Thursday.

Park Jae-hyuk | 2022-05-19 14:25

[ANALYSIS] Korean firms pin cautious hopes on launch of IPEF

President Yoon Suk-yeol and his administration are set to support U.S. President Joe Biden's call for deepening their economic alliance during Biden's state visit, here, as Yoon will explore advanced ways to expand South Korea's role in jointly addressing the continued global supply chain bottleneck throughout the Indo-Pacific Economic Framework (IPEF).

Kim Yoo-chul | 2022-05-19 11:34

US-led initiative expected to bolster economic partnership with Korea

Consumers alarmed by high sodium, saturated fat in meal-kits

A 32-year-old office worker surnamed Kim said he has gained 5 kilograms over the past three months since he started eating home meal replacement (HMR) products sold at grocery stores. Kim thought it would be healthier to eat freshly prepared meal kits rather than offerings sold by convenience stores or fast-food chains.

Kim Jae-heun | 2022-05-19 08:30

SsangYong signs conditional investment deal with KG consortium

SsangYong Motor 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.

2022-05-18 20:13

KEPCO to sell all overseas coal power plants following record losses

The Korea Electric Power (KEPCO) said Wednesday it will sell all overseas coal-fired power plants, including one in the Philippines, as part of efforts to improve its financial status over record quarterly losses.

2022-05-18 17:43

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