October 02, 2024

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EDITOR'S PICKS

• Companies 
  

  Korea Zinc's tender offer, Young Poong's second filing further bring feud to head

  Korea Zinc, the world's largest zinc smelter, is launching a tender offer to repurchase shares valued at up to 3.1 trillion won ($2.25 billion) to defend its position in the ongoing management dispute with Young Poong, its largest shareholder, and private equity firm MBK Partners. Korea Zinc Chairman Choi Yun-beom announced Wednesday during a press conference in Seoul that the company’s board has resolved to initiate this tender offer for treasury shares. Choi said the tender offer aims

• Companies 
  

  Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO

  Celebrity entrepreneur and chef Paik Jong-won’s yearslong effort to list his food franchise firm Theborn Korea on the country’s main bourse has cleared its first hurdle, yet challenges remain as the fate of the company heavily depends on his fame. Supported by a strong brand lineup and the rising public profile of its CEO Paik, Theborn Korea passed the preliminary review for its initial public offering on Aug. 30, about three months after submitting its application. "We will p

• Companies 
  

  Wellness Seoul 2024 to highlight healthier, balanced living

  Spending quality time for physical and mental well-being has become a mantra for people living in today’s fast-paced world. To promote a healthier and more balanced lifestyle, Herald Media Group, publisher of The Korea Herald, is launching its inaugural Wellness Seoul 2024 with support from the Seoul Metropolitan Government. Wellness Seoul 2024 aims to unite people from all walks of life in a shared celebration of healthier living and overall wellness, welcoming anyone seeking relaxation

• Tech 
  

  Zyx Technology eyes SE Asia expansion with cutting-edge design software

  South Korean design software developer Zyx Technology unveiled its latest products at Automation World Vietnam 2024 held in Ho Chi Minh City, in an effort to expand its business in Southeast Asia, the company said Wednesday. At the event, Zyx Technology introduced its flagship products: its general-purpose design software ZyxCAD, the AI-powered Works and Zyx Designer, and its GIS based Smart Construction Platform. These advanced tools are designed to improve design efficiency and support smart

• Markets 
  

  Egnis partners with Oklahoma for Xolution's resealable can business

  Lifestyle brand developer Egnis announced Wednesday that it began partnership with the Oklahoma government in hopes to expand its German subsidiary Xolution's resealable can business in the US. The business agreement signing ceremony held Tuesday at The Shilla Seoul, was attended by Park Chan-ho, CEO of Egnis, Evan Brown, executive director of the Oklahoma Department of Commerce’s Economic Development, Growth and Expansion division and Marc Von Rettberg, CEO and managing director at Xolut

• Markets 
  

  Hanwha Qcells sells 142 MW solar power project in Washington

  Hanwha Solution’s Qcells, the solar energy division under Korean conglomerate Hanwha Group, has sold a 142 megawatt solar photovoltaics project to Washington state’s largest utility company Puget Sound Energy, Hanwha Qcells said Wednesday. Hanwha Qcells highlighted that the sale of the solar power project signifies optimizing the profit structure by selling the developmental assets and securing a turnkey contract for the services of engineering, procurement and construction, or EPC.

• Tech 
  

  [Gadget Review] Apple's new iPhone 16 Pro: Professional camera phone

  Apple’s latest flagship smartphone series -- the iPhone 16, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max -- debuted in Korea on Sept. 20 as the US tech giant included the country among the first regions for its newest phones’ launch. Since the first iPhone debuted here in 2009, it marks the first time that Korea has been included in the list of the first countries to have new iPhones. Despite the early release, Korean sales remain lukewarm. Coupang, a major online seller, sa

• Companies 
  

  KT&G showcases flagship tobacco brands at global duty-free expo

  South Korea's leading tobacco company KT&G said on Wednesday that it is showcasing its top duty-free products at the TFWA World Exhibition & Conference in Cannes, France, to strengthen its presence in the international duty-free market. The company is displaying its premium brands such as Raison, Bohem and Esse -- the world’s bestselling ultra-slim cigarette -- while emphasizing its global business performance at its booth installed at the event from Sept. 30 through Oct. 3. Mark

• Companies 
  

  [KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears

  Ever since a Mercedes-Benz electric vehicle burst into flames in Incheon in August, an “EV phobia” has gripped drivers here. Less than two weeks from the massive fire, Hyundai Motor Group, the nation’s largest carmaker, preemptively disclosed the list of its EV battery manufacturers, prompting its foreign rivals to hustle to reveal their respective battery origins. A series of safety measures have also been unveiled from a new battery certification system to EV charger upgrad

• Markets 
  

  Hyundai partners with Saudi's Misk to nurture youth talent

  Hyundai Motor Group has partnered with Saudi Arabia’s Misk Foundation to develop young local talent and explore collaboration in smart city development. The two organizations signed a memorandum of understanding on Monday in the Saudi capital Riyadh, with the agreement formalized by Lee Jae-yong, head of smart city development at Hyundai’s Global Strategy Office, and Badr Hamoud Albadr, CEO of the Misk Foundation. The Misk Foundation, established in 2011 by Saudi Crown Prince Moham

• Companies 
  

  SK Innovation develops low-cost membrane for carbon capture

  SK Innovation, with its subsidiary SK IE Technology and researchers from Yonsei University, has developed a next-generation technology designed to capture carbon emissions more efficiently and at a lower cost. This breakthrough could have significant implications for the biggest carbon-emitting industries, such as power plants, steel mills and cement factories. The research, a collaboration between the SK Innovation Institute of Environmental Science and Technology, SKIET’s R&D Center

• Markets 
  

  Posco chief stresses innovation for survival at CEO forum

  Posco Group Chairman Chang In-hwa underscored the urgent need for a "future-oriented strategy," during his address to executives at the 2024 Posco Forum, which took place at the Posco Global R&D Center in Songdo-dong, Incheon on Tuesday. Now in its sixth year, the theme of this year’s forum is "Navigating Crisis, Innovating for Future." Some 100 executives from the group's affiliated companies will convene for two days to gain insights from external experts and dis

• Startups 
  

  [Herald Interview] Sleep tech startup Munice seeks bigger footing in US

  In a world where sleep disorders reportedly affect millions, South Korean startup Munice is offering a unique and science-based solution. Their app, Nightly, specializes in using a specific type of rhythmic sound frequency, called monaural beats, designed to promote relaxation and deep sleep. According to CEO Kwon Seo-hyun, 26, Nightly helps users fall asleep faster and experience deeper rest through brainwave entrainment. The app encourages electrical oscillations of the brain to synchronize w

• Tech 
  

  KT chief vows to secure AI leadership

  Telecom carriers can further expand their roles in the era of artificial intelligence as they hold the lead in offering diverse services, KT CEO Kim Young-shub said at a mobile conference in Seoul on Tuesday, saying collaboration with tech rivals is crucial to boost service quality. "AI-based services have already been realized across all areas, including telecommunications, health care, public transportation, manufacturing and logistics," Kim said in his keynote speech at this year's

• Companies 
  

  Korean Air wins US awards for best first, business class cabins

  Korean Air announced Tuesday that it has topped the 2024 USA Today 10 Best Readers’ Choice Awards in the business and first class category for the second year in a row. The airline also placed second for best in-flight food for the second consecutive year, while its cabin crew ranking improved from sixth to fourth place. The USA Today 10 Best Readers’ Choice Awards honors top performers across a range of categories. Nominees are selected by a panel of experts, with the final winner

• Companies 
  

  [KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?

  Hyundai Motor Company and General Motors seem like very different automakers. One is a South Korean juggernaut known for its efficiency and clean design, while the other is a symbol of American muscle, built on a century of dominance in trucks and sport utility vehicles. Yet earlier this month, these two giants signed a sweeping partnership. “In a time of intense competition from Tesla and an ever-growing Chinese EV threat, Hyundai and GM are probably betting that their combined strengt