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News
LG Energy Solution powers up newest factory in North America
14+ min ago (376+ words) The company's Michigan facility will focus on batteries for energy storage systems and EVs to meet growing U.S. grid demand. LG Energy Solution (LGES), Korea's leading battery maker, said Wednesday it has started operations at its seventh battery plant in North…...
Posco deepens battery ties with China's Ronbay, expand recycling efforts
2+ hour, 9+ min ago (408+ words) Posco Holdings will supply battery-grade lithium to China’s Ronbay Technology and expand cooperation on global spent-battery recycling. Posco Holdings will supply battery-grade lithium to China’s Ronbay Technology under a partnership that spans lithium production and spent-battery recycling. Battery-grade lithium meets…...
South Korea's household credit hits record high in Q2 as loans surge
3+ hour ago (354+ words) Outstanding loans totaled 2.02 quadrillion won ($1.43 trillion) as of the end of June, according to the central bank. Korea's household credit rose at the fastest pace in nearly five years to an all-time high in the second quarter on rising demand…...
HD Hyundai launches Peru Navy ship in first overseas co-production
3+ hour, 54+ min ago (299+ words) The launch of the Chimbote marks HD Hyundai Heavy Industries' first naval vessel co-produced with an overseas shipyard. HD Hyundai Heavy Industries launched an amphibious support ship for the Peruvian navy on Tuesday, marking the company's first successful co-production of…...
For Korea’s seniors, one home is more than an asset
18+ hour, 43+ min ago (488+ words) Proposed property tax changes could deepen financial strain on older Koreans living on fixed incomes. The author is a welfare specialist reporter at the JoongAng Ilbo. If enacted, the measures will affect not only owners of one highly desirable home…...
Homeplus makes a comeback
16+ hour, 47+ min ago (220+ words) Korea JoongAng Daily Homeplus makes a comeback The hypermarket chain reported that total sales during its promotional event from Aug. 13 to 17 came to 43.7 billion won ($30.9 million). Shoppers browse for groceries at a Homeplus store in Gyeonggi on Aug. 18. The hypermarket…...
Hyundai Motor union plans first full strike in 10 years over wage talks
21+ hour, 32+ min ago (610+ words) After staging partial strikes over the next week, the labor group will stage an eight-hour walkout, with an umbrella union encouraging other companies to join the protests. Hyundai Motor workers are preparing to bring production to a full stop for…...
Korean drugmakers cut costs as lower generic prices squeeze research budgets
22+ hour, 52+ min ago (862+ words) New reimbursement rules are forcing pharmaceutical companies to trim spending even as the government urges greater investment in research and development. Korean drugmakers have a bitter pill to swallow: They are about to earn less while being asked to spend…...
Korea's climate minister vows power, water supply won't delay national chip fab push
22+ hour, 52+ min ago (450+ words) Environment Minister Kim Sung-whan said the government will secure water and electricity for planned semiconductor fabs while seeking public input on nuclear power and grid expansion. SEJONG — Korea's environment minister Kim Sung-whan reaffirmed that the government would spare no effort…...
KG Mobility targets 1,000 SUV sales in Myanmar with entry into market
19+ hour, 14+ min ago (210+ words) The automaker will export the all-electric Torres EVX and Musso EV as complete knockdown kits to be assembled in the Southeast Asian country. KG Mobility said Tuesday it aims to sell 1,000 SUVs in Myanmar this year following the launch of…...