[Global Finance Awards] JB Financial, buoyed by upbeat earnings, readies for big leap

JB Financial Group is seeking another big leap under Chairman Kim Ki-hong who has recently been reappointed for the third term for his leadership in elevating the group’s financial stability and profitability. In the third quarter of this year, its return on equity reached 14.7 percent, reflecting a 2.6 percentage-point increase on-year. The company highlighted this as the highest ROE ratio among domestic financial holding companies, surpassing the double-digit target often regarded as a b

Nov. 27, 2024

HD Hyundai delivers next-generation Aegis destroyer to Korean Navy

HD Hyundai Heavy Industries announced Wednesday the delivery of Jeongjo the Great, an 8,200-metric-ton Aegis destroyer, during a ceremony at its headquarters in Ulsan, some 310 kilometers southeast of Seoul. Government representatives from seven countries, including Poland, Peru and the United States, attended the event. Delegates also toured the latest frigate Chungnam, which is set to be delivered to the Republic of Korea Navy next month. Poland and Peru are emerging as potential clients for t

Nov. 27, 2024

Posco International completes first gas processing plant in Australia

Posco International, the trading and energy arm of Posco Group, announced Monday that its local subsidiary has completed the first gas processing plant in Queensland, Australia. In April 2022, Posco International acquired Senex Energy together with Hancock Prospecting. It aims to triple Senex's annual natural gas production from 20 petajoules to 60 petajoules, enough to produce approximately 1.2 million metric tons of liquefied natural gas. Senex Energy has initiated commissioning tests for

Nov. 25, 2024

[Contribution] Intellectual property: A safety belt for Korean exporters

By Kim Wan-ki Drivers instinctively reach for their seat belts, whether they’re off to work in the morning or heading out for a weekend picnic. According to a 2023 traffic culture index survey, seat belt usage in South Korea reached approximately 85 percent, which reflects the belief that seat belts are an essential safety device protecting drivers from potential accidents. Then, what is the equivalent of a seat belt for export enterprises? How can they safeguard their innovative technolo

Nov. 25, 2024

Korean Air offers special flights for mileage users

Korean Air has introduced a special flight schedule for customers wishing to redeem mileage points for trips to Jeju Island. Mileage users will have preferential booking access for three days: Dec. 28, Dec. 30, and Jan. 1. Reservations open Thursday, and customers can join the event through the airline’s official website or mobile app. The promotion applies exclusively to flights between Gimpo and Jeju Island. The flight from Gimpo Airport will depart at 1:40 p.m., arriving at Jeju Airport

Nov. 21, 2024

LS, Denmark’s CIP join hands for Ulsan wind power project

LS Cable & System, a leading Korean cable manufacturer, is bolstering ties with global infrastructure investors to supply its submarine cables for floating offshore wind power projects in Ulsan. According to the company on Thursday, LS signed a letter of intent with Copenhagen Infrastructure Partners, a global investment firm specializing in the renewable energy sector. CIP’s project company, Haewoori Offshore Wind, plans to develop a large-scale floating wind park with a capacity of 1

Nov. 21, 2024

ZYX Technology teams up with Jeonbuk University to foster CAD experts

South Korean design software developer Zyx Technology announced Tuesday that it has signed a memorandum of understanding with Jeonbuk National University to nurture future software talent in North Jeolla Province. Under the partnership, ZYX Technology plans to offer ZYX CAD licenses worth a combined 1 billion won ($720,000) over the next three years, while carrying out research and development in the AI software sector. ZYX CAD is a versatile computer-aided design software that leverages multipl

Nov. 19, 2024

Hanwha Life partners with Stanford HAI for AI technologies

Hanwha Life, a leading Korean insurance company and subsidiary of Hanwha Group, announced Tuesday that its artificial intelligence research unit has been conducting a joint study with Stanford University's AI institute after signing a collaboration agreement. Launched in June, Hanwha Life AI Research Institute aims to keep pace with changes in the market, focusing on four key areas: enhancing investment strategies, developing a “digital persona,” integrating AI into health care

Nov. 19, 2024

HD Hyundai to step up cooperation with SIMA Peru

HD Hyundai Heavy Industries announced Monday that it signed a memorandum of understanding with state-operated shipyard SIMA Peru in Lima, Peru, last week to jointly develop submarines as part of the Peruvian Navy’s vessel replacement project. Through the partnership, HD Hyundai and SIMA will make joint efforts to win contracts and develop submarines tailored to Peru’s Navy. HD Hyundai also plans to strengthen its partnership with the Peruvian government and navy, supporting the local

Nov. 18, 2024

ZYX Technology inks partnership with Chonnam University to nurture tech talent

South Korean design software developer Zyx Technology announced Friday that it has signed a memorandum of understanding with Chonnam National University, aiming to foster tech talent and strengthen collaboration. Under the agreement, the company said it will provide academic support, including free access to cutting-edge design software and opportunities for joint research and development of artificial intelligence software. As a member of the Innobiz Association, Zyx Technology has developed a

Nov. 15, 2024