LG has established its artificial intelligence think tank, called LG AI Research Institute, on Dec. 7.The group opened the era of AI leaders born in the 1970s by recruiting Lee Hong-rak, a 43-year-old professor at the University of Michigan, as a C-level official and appointing Bae Kyung-hoon, a 44-
KEPCO said on Dec. 8 that UAE Barakah Nuclear Power Plant Unit 1 has reached 100 percent of its output on Dec. 7, 2020 and is set to operate commercial operation next year.Barakah Nuclear Power Plant Unit 1 has been conducting power-up tests by gradually increasing the reactor power since its initia
Korea Credit Guarantee Fund (KCGF) held the opening ceremony of the "Hanoi Office" at the Gyeongnam Landmark Tower in Hanoi, the capital of Vietnam, and began its official work.To comply with the Vietnamese government's quarantine guidelines following the spread of COVID-19 and to prevent the spread
Hyundai Motor will recall 129,000 vehicles, including Santa Fe, in the U.S. due to engine failure and the consequent risk of fire, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Dec. 4.Among the objects to the recall are Santa Fe produced in 2012, Veloster between 2015 and 2
Philips Korea and Gwangmyeong Hospital of Chung-Ang University have joined hands to build a smart hospital where ICT-based digital healthcare solutions were introduced.Related to this, both sides signed an MOU in a ceremony on Dec. 3. A company official said, “As demand for medical services has soar
Hyundai Motor Group has unveiled its "E-GMP (Electric-Global Modular Platform), a platform dedicated to next-generation electric vehicles that will be applied to electric vehicles next year.The group introduced E-GMP's features and applied new technologies through "E-GMP Digital Discovery," which wa
POSCO will expand its secondary battery material business for anode and cathode materials and secondary battery core material business for lithium, nickel and graphite, the group said on Dec. 3.Related to this, the company decided to establish a value chain for the secondary battery material busines
Hanwha Solutions will build a green hydrogen production complex based on renewable energy through a public-private-government partnership investment project.Related to this, Hanwha Solutions signed a memorandum of understanding (MOU) with Gangwon-do and Korea Gas Technology Corp. on Dec. 3 to streng
“LR Health & Beauty, a leading company in the European network marketing industry, will enter into the Korean market by establishing a branch in Seoul in December,” LR Health & Beauty Korea CEO Andreas Grootz recently said.In an interview with The Korea Post, CEO Grootz said, “Korea will be the firs
Woori Bank has been honored as the "Global Bank of the Year" by The Banker, a global financial magazine, for the first time in the nation’s banking industry.The Banker also presented three awards, including the Best Asian Bank and the Best Korean Bank, to Woori Bank, the commercial bank said on Dec.
Hyosung Group Chairman Cho Hyun-joon said on Dec. 2 that the group will expand its spandex plant in Brazil after Turkey to cement its No. 1 status in the global spandex market.Related to this, Hyosung T&C will invest 40 billion won (some $36 million) by December next year to increase the production
Hanwha Systems has obtained the highest level of Level 5 certification in the latest 2.0 version of "Capability Maturity Model Integration (CMMI)," an international R&D capacity evaluation standard.CMMI is a global software and system quality control competency assessment model developed by the Inst
SK Corp. will enter the hydrogen business to strengthen the ecosystem of the domestic hydrogen market and accelerate management of ESG (environment, society, and governance), the holding company of SK Group said on Dec. 1.The company has recently established a hydrogen business promotion team with a
Mirae Asset Global Investments won a lawsuit against China's Anbang Insurance on Nov. 30 in connection with a contract to acquire hotels in the U.S., the company said on Dec. 1.Accordingly, Mirae Asset is expected to receive $580 million in down payment as well as transaction-related expenses.On the
Unionized workers at GM Korea voted down a tentative wage deal for the year, the company said Tuesday. With the agreement rejected, GM Korea is expected to continue labor-management conflicts for the time being.The GM Korea branch of the Korean Metal Workers' Union said on Dec. 1 that only 45.1 perc
Ssangyong Motor has obtained additional permission from the Ministry of Land, Infrastructure and Transport to temporarily operate self-driving cars Level 3 and start test driving on general roads in December.The Ssangyong car that was approved for temporary operation is a Korando-based self-driving
Hanmi Pharm has won the "K-ICT Information Protection Award" for the first time in the pharmaceutical bio industry, the company said on Nov. 30.Marking its 19th anniversary this year, the K-ICT Information Protection Grand Prize is awarded by the Ministry of Science and ICT to companies and individu
Doosan Heavy Industries & Construction said on Nov. 30 that it has signed an agreement with Korea Western Power Co. for development of a hydroelectric power plant in Phou Ngoy, Laos.The project is being carried out jointly with Korea Western Power Co. after Thailand's developer company, Charoen Ener
S-OIL held the "2020 Citizen Hero of the Year Award Ceremony" at its headquarters in Gongdeok-dong, Mapo-gu, Seoul on Nov. 30.S-OIL said, “Our company has selected 19 civic heroes of the year who displayed righteous spirit of sacrifice to save their neighbors in danger and delivered 140 million won
Samsung Heavy Industries has signed a contract with a shipping company in Oceania to build one LNG carrier worth a total of 206.2 billion won (some $185 million). The vessel will be delivered by July 2023.Samsung Heavy Industries said on Nov. 30 that it also won an additional order for an S-Max oil