Hyundai Engineering wins US gas-to-liquid facility project

Hyundai Engineering on Thursday secured an order from US energy firm GTL Americas to build a plant in the US that will turn natural gas into high-grade diesel, naphtha and jet fuel. Under the project, the gas-to-liquid or GTL facility will be established near the city of Pine Bluff, Jefferson County, Arkansas, to generate some 41,000 barrels of fuel per day, including synthetic diesel or high cetane synthetic fuel, and paraffinic synthetic naphtha. The GTL procedure is a high-tech process that g

Sept. 24, 2023

Apple to launch iPhone15 series in S. Korea on Oct. 13

Apple’s latest flagship smartphone series will likely launch in South Korea next month, according to industry sources Friday. Apple is preparing to sell its new smartphones -- the iPhone15, iPhone15 Plus, iPhone15 Pro and iPhone15 Pro Max -- on Oct. 13 in Korea, taking preorders a week ahead of the official release here, sources said. If the tech giant rolls out its latest smartphone lineup on that date in Korea, it will be about a month after the company first unveiled the iPhone 15 serie

Sept. 22, 2023

Broadcom slapped with W19.1b fine for abusing market power in Korea

South Korea’s antitrust regulator said Thursday it is imposing a fine of 19.1 billion won ($14.2 million) on US chipmaker Broadcom, along with a corrective order, for its unfair business activities against Samsung Electronics. The move came after the US chipmaker forced Samsung to sign a long-term contract to use its telecommunications components in 2020 by abusing its market dominance and using unlawful tactics, including cutting off its supply and technical support, the Fair Trade Commis

Sept. 21, 2023

SK Pharmteco takes over US contract drugmaker CBM

SK Pharmteco, a global contract development and manufacturing organization under Korean conglomerate SK Group, said Wednesday that it has acquired the Center for Breakthrough Medicines, a US cell and gene therapy firm. The Korean firm exercised its right to acquire a controlling stake in CBM to obtain the management right of the Philadelphia-based cell and gene therapy CDMO, offering pre-clinical to commercial phase therapies. The right was given when SK Pharmteco made its capital investment i

Sept. 20, 2023

Posco E&C targets tenfold valuation growth by 2035

Construction and engineering firm Posco Eco & Challenge unveiled on Tuesday a new vision to multiply its corporate valuation tenfold by 2035, zeroing in on its renewed commitment to spearheading growth in the eco-friendly space. Under the vision, it is aiming to reach 25 trillion won ($18.9 billion) in sales and 2 trillion won in operating profit by 2035, which would help boost its corporate value, the firm said. “Using Posco E&C's sturdy foundation as the bedrock, we are layi

Sept. 19, 2023

Art Token joins hands with Anicube for K-art's global expansion

Non-fungible token platform company Art Token said Monday that it recently joined hands with Anicube Entertainment, a music metaverse platform company, in a move to drive the global expansion of Korean digital art content. The latest partnership was inked at Art Token's headquarters in Gangnam, southern Seoul earlier last week, with top executives including Art Token CEO Hong Ji-sook and Anicube Content Market Business Head Lee Cheol-jae in attendance. Under the agreement, Art Token aims

Sept. 18, 2023

[Photo News] New Mercedes-Benz Korea CEO

Mercedes-Benz Korea CEO Mattias Vaitl, whose official term as CEO started earlier this month, speaks at the awards ceremony for the “Korea TechMasters” technical skills competition held at the Mercedes-Benz Korea Training Academy in Yongin, Gyeonggi Province, Friday. The German carmaker’s two separate automotive training programs, Ausbildung and Automotive Mechatronic Traineeship, also kicked off this year’s sessions a day prior. (Mercedes-Benz Korea)

Sept. 18, 2023

KT proposes telecom work in Ukraine

South Korean telecommunications giant KT Corp. has suggested to the Ukraine government ways of improving the war-torn country's telecom infrastructure and operating with energy efficiency, upon its participation at a forum hosted by South Korea’s Ministry of Land, Infrastructure and Transport in Ukraine's capital Kyiv on Thursday. KT was among the 18 state-run and private firms specializing in housing, public water supply, airports, environmental technology, construction, vehicle

Sept. 17, 2023

[Beyond Earth] Orbit hopes to bring science closer to public

The level of public interest in space here has reached its highest point in recent years when South Korea consecutively succeeded in launching homegrown Nuri rocket and Danuri, the Korea Pathfinder Lunar Orbiter, last year. Orbit, undeniably the most well-known science communicator in South Korea at the moment, says the science frenzy here should continue by uncovering the more entertaining aspects of science from the vastness of the universe, as well as fun research. Science communicators are i

Sept. 17, 2023

[Photo News] SK chief inspects chip cluster

SK Group Chairman Chey Tae-won (right) inspected the construction process at chip-making affiliate SK hynix's Yongin Semiconductor Cluster in Gyeonggi Province, upon his visit to the site with the latter's CEO, Park Jung-ho (left) on Friday. Calling it the "most thoroughly and strategically planned project" in SK hynix history, Chey asked for the utmost efforts in the cluster's success. With a 120 trillion won ($90.3 billion) investment, the world's second-largest m

Sept. 15, 2023

Samsung secures upper hand in patent fight against BOE

Samsung Display has gained an upper hand in its legal fight over patent infringement against its Chinese rival BOE Technology, as the US trade agency backed the Korean firm's claims. On Monday, the US International Trade Commission, an independent, quasi-judicial federal agency, upheld all interpretations of Samsung’s claims in its five patent infringement cases against the Chinese firm. The latest pretrial order comes after a hearing in June to examine eight technical terms with diff

Sept. 14, 2023

[Photo News] Apgujeong gets green light for face-lift

Apartment complexes are seen in Apgujeong-dong, Gangnam-gu, Seoul, Thursday. A city construction commitee under the Seoul Metropolitan Government passed a revision to relax reconstruction regulations placed on aging apartment complexes in the wealthy neighborhood. With the passage of the plan, obsolete buildings can be rebuilt as high-rise complexes with 50-plus floors. (Yonhap)

Sept. 14, 2023

LG CNS joins forces with Korea University to foster AI talent

Information technology service provider LG CNS said Thursday it has inked a deal with Korea University to nurture future talent in the burgeoning field of artificial intelligence and data science. Under the new industrial-academic partnership, a department temporarily named “AI and Data Science” will be set up at Korea University’s graduate school, and students will receive a job offer at the company upon graduation. Starting next year, the department plans to admit over 20 gra

Sept. 14, 2023

[Contribution] Vintage audio is not a prop

By Winter Choi Visit the trendiest places and you’ll be bound to see them: turntables flanked by 33’s, album art on the wall, maybe even a ghettoblaster if you’re lucky. Retro audio formats have enjoyed a comeback in recent years. And with people spending more time at home during the pandemic – and spending more money on goods than experiences – sales are higher than ever. But are people buying physical formats for the music, or only to display them on a shelf? Classic audio

Sept. 13, 2023

[Photo News] Sold out

Samsung Electronics said Wednesday that more than 110,000 people applied to order the Galaxy Z Fold5 Thom Browne Edition during the seven-hour lottery event held via its website on Tuesday. The limited-edition bundle, priced at 4.29 million won ($3,230), includes a phone, a smartwatch and accessories featuring the American fashion house’s color scheme. (Samsung Electronics)

Sept. 13, 2023

Samsung SDS unveils generative AI model for corporate clients

South Korean IT solutions provider Samsung SDS unveiled new services that will allow its clients to easily adopt generative artificial intelligence in their businesses to improve work productivity, with the aim to usher in hyperautomation innovation. “There has been a view that generative AI will fall into a chasm due to the variability of human languages, but large language models (LLMs) have paved the way for a true hyperautomation of office work,” Samsung SDS president and CEO Hwa

Sept. 12, 2023

[Photo News] Galaxy Flip cruising

A 70-meter ship featuring a light-emitting diode sculpture for Samsung Electronics' Galaxy Z Flip5 cruises down the Huangpu River in Shanghai on Thursday. Samsung launched its latest foldable phones in China last month, and says the phones have been selling better than their predecessors, without elaborating on the exact sales figures. (Samsung Electronics)

Sept. 12, 2023

[Herald Interview] 'AI success hinges on local nuances and governance, not just silicon'

The evolution of generative AI must equally weigh up technological, ethical and regulatory complexities, said Richard Yonck, an American futurist with over 25 years of experience in computer systems and program analysis. Yonck expressed concerns over the mounting global enthusiasm for AI while sharing insights on the challenges of cultivating a localized AI ecosystem in South Korea in a recent interview with The Korea Herald. "The pressure to yield immediate results is tangible, especially

Sept. 11, 2023

KT's AI tech to accelerate digital logistics innovation of SingPost

South Korean telecommunications giant KT Corp. on Monday said it has signed a memorandum of understanding with a Singapore-based postal service provider to drive digital transformation in logistics. Under the partnership, KT and Singapore Post, or SingPost, agreed to pilot digital logistics transportation optimization in seven regions across Singapore, leveraging the Korean telecommunications company’s artificial intelligence transportation platform, Logistics Intelligence Suite for Fleet

Sept. 11, 2023

Samsung’s H2 open recruitment to start Monday

Samsung Group, South Korea’s top conglomerate, announced Sunday that its official recruitment in the latter half of this year will start Monday, with 20 affiliates joining the massive hiring drive. The key affiliates include Samsung Electronics, Samsung Display, Samsung Biologics, Samsung SDS and Samsung SDI, among others. Applicants are required to submit their credentials via Samsung’s official recruitment website from Sept. 11 to 18. The months-long process includes a job alignmen

Sept. 10, 2023