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.  With this new electric furnace, Hyundai Steel plans to minimize carbon emissions by u

Korean Air is facing hurdles in acquiring the cash-strapped air carrier Asiana Airlines as it awaits clearance from at least four regions the EU, the US, Japan, and China. The EU’s regulatory body, considered one of the biggest obstacles in the airline’s bid as it has been getting tougher over business mergers, recently asked Korean low-cost carriers Tway Air and Air Premia for their opinion on the merger between South Korea’s two biggest air carriers, according to the aviatio

Doughnuts of various colors and ingredients are on display at a cafe and bakery fair held in Suwon, Gyeonggi Province, Thursday.

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 dynamics, according to Hanwha Solutions. Kim also helped arrange a meeting between fo

Samsung Medical Center said Thursday that it has created a consultative group on Friday to accelerate its plan of adopting a robot-driven smart hospital system. The hospital was selected in 2021 by the Korea Institute for Robot Industry Advancement, an organization under South Korea’s Industry Ministry, to receive up to 1.5 billion won ($1.18 million) in subsidies to carry out a project to operate robots in the hospital. SMC currently operates one robot specializing in the distribution o

South Korean cablemaker LS Cable & System has been accelerating its cooperation with local small and medium-sized enterprises to foster shared prosperity. LS Cable & System said Thursday that it has launched a local area network cable testing device in collaboration with Kangwon Electronics, a local company specializing in hardware and software wholesale. The newly developed device allows for the fast and accurate inspection of LAN cables for short circuits and wiring errors. It was

Software developer plans to have 50 or more satellites launched within next 5 years

Dongsuh Foods Corp. has sought to give back to society by holding literary contests, professional Go championships, and donating books to elementary school libraries. For the past three decades, the instant coffee giant has discovered thousands of female literary talents through its biennial contest. Some 240,000 pieces of literary work have been submitted to the Dongsuh Literary Awards, and about 6,000 writers have been awarded. Some 18,000 pieces were received for the 15th Dongsuh Literary Aw

LG Group said Thursday it has confirmed a spending package of 106 trillion won ($83.7 billion) through 2026 to consolidate its manufacturing and research base in South Korea. The five-year plan is intended to add momentum to LG‘s domestic business regarding next-generation electric vehicle batteries, artificial intelligence, biopharmaceutical technology and clean technology. The expenditures are aimed at ramping up research capabilities, boosting production and securing infrastructure

The number of startups in South Korea dropped 3.4 percent in the first quarter of the year due largely to a one-off factor, government data showed Thursday. A total of 348,732 startup businesses were set up in the January-March period, compared with 360,846 a year earlier, according to the data from the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups. The ministry attributed the decline mainly to a base effect as there had been a sharp increase in the number of newly set-up re

President Yoon Suk-yeol said Wednesday the government will support small and medium enterprises (SMEs) with bold infrastructure investment that will enhance their competitiveness and innovation. Yoon also vowed to make efforts to create "fair" market environments for the co-existence of large firms and SMEs, during his speech at an SMEs event organized by the Korea Federation of SMEs at the presidential complex in Seoul. "The government will help SMEs with bold infrastructure

Starting next month, South Korea and Japan will resume flight services between Seoul’s Gimpo and Tokyo’s Haneda airports. Korea Airports Corp. said during its regular briefing Tuesday that it is currently discussing the exact date and immigration procedures with the Japanese government before reopening flights between Gimpo and Haneda. Once resumed, there will be 16 flights provided every week by Korean Air, Asiana Airlines, Japan Airlines and All Nippon Airways. The air route ha