South Korean oil refiner GS Caltex said Friday that it has teamed up with national flag carrier Korean Air to promote the demonstration of Sustainable Aviation Fuel to reduce carbon emissions in the atmosphere. Through the partnership, GS Caltex will supply SAF -- an alternative to conventional fossil aviation fuel produced with biological and nonbiological resources -- to Korean Air on international flights departing from Incheon. The two signed a memorandum of understanding at GS Tower in Gang

Industry June 30, 2023

A 31-year-old worker at a Costco outlet in Hanam, Gyeonggi Province, died of heatstroke after organizing shopping carts in the sweltering parking lot all-day last week, according to news reports Thursday. The worker, surnamed Kim, was on duty since 11 a.m. last Wednesday. He had to collect some 200 shopping carts every hour and move them towards the store entrance. He reported his unwell condition earlier in the day but was found collapsed at around 7 p.m. He was moved to a hospital but died of

Social Affairs June 29, 2023

Standard Chartered Bank Korea said Thursday that it is offering a promotion for new clients signing up for its Jaeil EZ account, promising first-time customers interest rates of up to 3.6 percent per year, even for just one day of deposit. The promotion, which launched on June 20 and runs until July 7, offers every new client 3,000 won ($2.28) worth of Naver Pay points, a points reward program of the country's largest portal. Customers need to agree to receiving mobile newsletters and mobil

Market June 29, 2023

AK Golf, the pioneering company that initiated online golf distribution in South Korea, has succeeded in driving golf popularization through innovative online distribution and a groundbreaking pricing system. The domestic golf equipment market used to be dominated by expensive offline stores in each region, creating a closed market. However, AK Golf revolutionized the purchasing experience by offering an innovative way for consumers who opt for rational consumption. By transforming the tradition

Consumer June 28, 2023

South Korean supplier relationship management vendor Emro has been leading the digitalization of the purchasing process between companies and their suppliers, improving accuracy and efficiency in overall procurement operations. Founded in 2000, Emro has been conducting next-generation procurement system projects with leading companies in various industries such as Samsung, Hyundai Motor, LG and SK. Through these projects, Emro has incorporated specialized purchasing processes and functions tailo

Technology June 28, 2023

Established to concentrate on cultivating wine experts through its wine expert course, 1879 Gangnam Wine School aims to provide systematic and high-quality education through its sisterhood with Universite Du Vin, one of France's top three wine universities, founded in 1978. Since its opening in May 2007, Gangnam Wine School has operated its Wine CEO Master Course, with the 48 ongoing courses as of 2023. The 1879 Wine CEO Master Course is a wine culture program targeting CEOs, professionals

Industry June 28, 2023

Posco Group Chairman Choi Jeong-woo held a series of meetings with key investors and business leaders in his recent visit to the US and Canada in a bid to strengthen ties, according to the company. Choi delivered a keynote speech at the Global Steel Dynamics Forum held in New York on Tuesday, during which he discussed the trends facing the steel industry and stressed the need for cross-border solidarity to seek sustainable growth. Organized by World Steel Dynamics, the forum was attended by glob

Industry June 28, 2023

Starbucks Korea is putting forward a 2023 summer promotional event showcasing five gift items including side tables in three color options and two types of Starbucks-themed pans and plates until July 10 at its stores nationwide. The seasonal event, called the e-Frequency reward program, has been taking place biannually in South Korea since 2013, providing limited-edition goods to Starbucks members who purchase a total of 17 drinks, including three mission drinks. This year's theme, "Su

Consumer June 28, 2023

South Korean home appliance maker Coway is redefining the market with its innovative design and performance of its water purifiers. Its Icon Ice Water Purifier has gained attention with its comparably small size. With a width of 24 centimeters and a side length of 47.3 centimeters, the Icon water purifier can contribute to better kitchen space utilization. Available in ice white, pink, blue, and gray, the Icon Purifier boasts its ice-making speed, with each cycle taking only about 12 minutes and

Consumer June 28, 2023

Non-fungible token platform company Art Token announced Friday that it was sponsoring the ongoing "Proof of X" exhibition held in Tokyo from Saturday. The weeklong exhibiting highlights the harmonious integration of contemporary art, blockchain technology and NFTs. The exhibition aims to highlight the potential of NFTs and smart contracts in blockchain technology, exploring the transformative dynamics between artists, audiences, collectors and curators through interactive art that resp

Industry June 23, 2023

South Korean supplier relationship management vendor Emro said Thursday it is making a foray into the global market by developing an integrated supply chain management platform in collaboration with Samsung SDS and US-based planning platform provider o9 Solutions. Amid the escalating trade rivalry between the US and China, the prolonged Russia-Ukraine war and a worldwide economic slowdown, managing one's global supply chain more effectively has become a key focus in corporate management, le

Industry June 22, 2023

Information technology service provider LG CNS will accelerate business cooperation with Chung-Ang University to foster talent for its security business, the firm said on Tuesday. LG CNS signed an industry-academia cooperation agreement for manpower development in digital experience with Chung-Ang University on Monday at the LG Science Park in Gangseo-gu, Seoul. “As security is an essential element of DX implementation, we will concentrate on nurturing security experts to enhance the busin

Industry June 20, 2023

June 17 marks the United Nations' World Day to Combat Desertification and Drought, commemorating the adoption of the United Nations Convention to Combat Desertification in 1994. The spread of desertification in Northeast Asia is not only a significant cause of springtime fine dust pollution in Korea but also a transborder issue affecting neighboring countries. In recent years, the incidence and scale of fine dust storms have been increasing due to climate change, desertification and drought

Industry June 15, 2023

South Korean steelmaker Posco Holdings said Tuesday that it will produce lithium hydroxide for secondary battery materials using lithium reserves from Argentina’s salt lake, making it the first domestic company to do so. The groundbreaking ceremony for the lithium hydroxide production facility for secondary batteries took place at Yulchon 1st Industrial Complex in South Jeolla Province on Tuesday. The event was attended by the National Assembly's Special Committee on Advanced Strategy

Industry June 13, 2023

South Korean chips giant SK hynix said Monday that the total social value generated by the company last year was 7.5 trillion won ($5.8 billion), down from the previous year by 1.9 trillion won, or 20 percent. Social value refers to the degree to which companies have contributed to solving or alleviating social problems facing stakeholders. Economic contributions of the company under SK Group accounted for the bulk of it positive social value at 7.7 trillion won, despite a downturn in the semico

Industry June 12, 2023