LG Energy, French firm DBG set up battery recycling JV

LG Energy Solution Ltd., South Korea's leading battery maker, said Tuesday it has partnered with French metal scrap recycler Derichebourg to establish a battery recycling joint venture in France. Under the 50:50 JV, the two companies will build a battery recycling plant in Val-d'Oise, just north of Paris, capable of processing more than 20,000 tons of used batteries and scrap annually, with operations slated to begin in 2027, LGES said in a press release. It is the first battery recycling JV for

April 29, 2025

LG Chem mulls selling water solutions unit amid prolonged petrochemical slump

LG Chem Ltd. is moving to sell its water solutions division, which produces reverse osmosis membrane filters used for industrial desalination, industry sources said Monday. According to the sources, the company has reportedly selected Glenwood Private Equity as the preferred bidder and is in negotiations over the deal. The division generates approximately 200 billion won ($138.6 million) in annual sales, and the sale price is expected to reach around 1 trillion won. LG Chem entered the RO membra

April 28, 2025

DeepSeek resumes service in S. Korea after disclosing revised info processing policy

Chinese artificial intelligence service DeepSeek resumed its service in South Korea after it disclosed a Korean-language version of its partially revised information policy Monday amid controversy over its data management. DeepSeek is currently available for downloads from app markets here following a service suspension for about two months since Feb. 15. Earlier in the day, the AI service disclosed the improved information processing policy for Korean users after the Personal Information Protec

April 28, 2025

[Photo News] Promoting financial literacy

Hana Financial Group signed an agreement with the Financial Supervisory Service, North Chungcheong Province and the North Chungcheong Provincial Office of Education to provide financial education in the region. Under the agreement, the financial service provider will offer various support programs, such as online financial education for elementary students and a financial consultation service for youths. It also plans to provide a mentoring program and launch campaigns to prevent financial fraud

April 28, 2025

LS Marine wins first overseas subsea cable deal for Taiwan wind project

LS Marine Solution announced Monday that it has secured a $15.8 million contract to install subsea cables for Taiwan Power Company’s offshore wind project, marking its first overseas order in the power grid sector. It is also the first time a Korean company has bagged an international subsea cable installation project. According to LS Marine, the project is part of the TPC wind farm’s phase 2 initiative, with a generation capacity of 294.5 megawatts. It is a core project within the Taiwanese gov

April 28, 2025

Samsung SDI to showcase energy storage innovations at InterBattery Europe

Korean battery maker Samsung SDI announced Monday that it will participate in InterBattery Europe 2025, to be held in Munich, Germany, as part of its effort to strengthen its presence in the region’s rapidly growing energy storage market. The exhibition, a part of Europe’s largest energy industry gathering, The Smarter E Europe, will host around 200 companies and run from June 7 to 9. As Europe’s data center energy demand is projected to triple between 2024 and 2030, Samsung SDI plans to showcas

April 28, 2025

Shinhan Bank freed from US money-laundering oversight after 8 years

Shinhan Bank America, the US unit of South Korea’s Shinhan Bank, has been released from an injunctive order by the US government that subjected it to heightened scrutiny under its anti-money laundering program. The Federal Deposit Insurance Corporation, the US agency insuring deposits in commercial banks and savings institutions, announced its consent order against the bank terminated as of March 13, ending nearly eight years of intensified supervision for the New York-based institution. Shinhan

April 28, 2025

LG CNS posts record Q1 earnings on cloud, AI growth

Korean IT solutions provider LG CNS said that on Monday, it achieved its highest-ever first-quarter sales and operating profit, driven by the accelerating adoption of cloud and artificial intelligence solutions across industries. Its first-quarter sales reached 1.21 trillion won ($840 million), an increase of 13.2 percent compared to a year earlier. Operating profit came in at 78.9 billion won, up 144.3 percent from a year ago. The IT solutions provider said its sales have continued to grow stea

April 28, 2025

Samsung Heavy wins W561.9b order from Asia

Samsung Heavy Industries Co., a major South Korean shipbuilder, said Monday it has secured a 561.9 billion-won ($391.2 million) order in Asia to build two container ships. Samsung Heavy plans to deliver the vessels to an unidentified Asian shipper by January 2028, the company said in a filing. The company did not provide the name of the shipper. With the latest contract, the company has so far won about $2.6 billion worth of orders, or 27 percent of its annual order target of $9.8 billion, it sa

April 28, 2025

DeepSeek discloses Korean version of revised info processing policy

Chinese artificial intelligence service DeepSeek, which stirred controversy last week for the overseas transfer of Korean user information, disclosed a Korean-language version of its partially revised information processing policy Monday. The move came five days after the Personal Information Protection Commission revealed that DeepSeek transferred Korean users' personal information to three companies in China and one in the United States without obtaining their consent and disclosing the transf

April 28, 2025

Samsung SDI to promote ESS battery products in Europe

Samsung SDI Co., South Korea's second-largest battery maker, said Monday it will promote its latest energy storage system battery products at a major European battery exhibition next month. Samsung SDI will take part in InterBattery Europe 2025, one of the key exhibitions under The Smarter E Europe -- the continent's largest energy industry event -- set to take place in Germany from May 7-9, the company said in a press release. At this year's show, the company plans to introduce a variety of nex

April 28, 2025

Four major banking groups post record Q1 earnings

South Korea’s four largest banking groups reported record-high combined earnings in the first quarter, approaching 5 trillion won ($3.48 billion) despite a broader economic slowdown and declining interest rates. Shinhan Financial Group on Friday posted a net profit of 1.49 trillion won for the January-March period, up 12.6 percent from a year earlier and marking its highest-ever first-quarter result. “Despite heightened economic volatility at home and abroad, we delivered solid results on the ba

April 28, 2025

Posco teams up with builders to boost cement performance, cut waste

Korea’s steelmaking giant Posco Group is partnering with the domestic construction industry to explore the use of its steelmaking byproduct in enhancing cement quality, the company announced Friday. Posco signed a joint agreement with five Korean construction firms, including GS Engineering & Construction, as well as seven cement and ready-mixed concrete producers, on April 11 in Seoul. Academic institutions such as the Korea Concrete Institute and Posco's research unit, the Research Institute o

April 28, 2025

SK Telecom vows to take full responsibility for damage from recent data leak

SK Telecom, South Korea's leading mobile carrier, vowed Sunday to take full responsibility for any damage to customers caused by a recent network hacking incident involving the potential leak of subscriber information. Earlier this month, the carrier detected signs of a massive leak of customers' universal subscriber identity module data due to a cyberattack and offered the free replacement of the USIMs of all of its 23 million users. "You can prevent hacking damage by subscribing to the USIM pr

April 27, 2025

Korea Herald Roundtable for Pharma & Biotech

The Korea Herald will host the 2025 US Strategy Roundtable for Pharma and Biotech at the Korea Chamber of Commerce and Industry in Seoul on Tuesday. The roundtable will bring together key players in the biopharmaceutical industry, including leading firms and innovative biotech startups aiming to expand into the US and global markets. Former Justice Minister Kang Kum-sil, now a partner at One Law Partners, will deliver the opening address. The keynote presentation will be given by Kurt Tong, mana

April 27, 2025