Lotte Group's stock plummeted to record lows on rumors of a liquidity crisis, but experts claim these concerns are overstated and emphasize the need for better debt control. The holding company’s stock closed at 20,550 won ($14.80) on Monday, down 6.6 percent from the previous day, while Lotte Chemical saw the sharpest decline among its subsidiaries, falling 10.22 percent to 65,900 won and reducing its market capitalization to 2.82 trillion won, a 15-year low. Both stocks hit 52-week

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

The appointment of Lee Han-woo, head of Hyundai Engineering & Construction's housing business division, as its new executive vice president and CEO marks a generational shift as Lee becomes the company's first CEO born in the 1970s. Born in 1970, Lee joined the company in 1994 and has held a range of leadership roles over the past 30 years, including head of the strategic planning division. As the incoming CEO, he is expected to enhance Hyundai E&C's global portfolio in ci

Amid intensifying competition for chip supremacy, Korean lawmakers are pushing to lift the national cap on working hours to give chipmakers more flexibility. The ruling party's proposal, however, has sparked mixed reactions, with critics labeling it "regressive." In South Korea, home to the world's top memory chip makers Samsung Electronics and SK hynix, employees are prohibited from working more than 52 hours per week -- consisting of 40 regular hours and up to 12 hours of o

LG Energy Solution ups ante in supply talks with Hyundai Motor

The private sector should take the initiative in South Korea’s space development, currently led by state-run institutes, and foster the ground equipment and satellite communication service industries for the country to ascend as a space powerhouse, a report suggested Tuesday. The Federation of Korean Industries, a Korean business group, examined the current status of the aerospace industry and suggested development plans through a report commissioned by Kwak Shin-woong, a professor at Kook

By Jang Hye-lim The return of President Donald Trump signals a transformative moment for the global semiconductor industry. Geopolitical tensions, trade restrictions and rapid technological advancements are reshaping this critical sector. South Korea's semiconductor giants, Samsung Electronics and SK hynix, are global leaders in the memory chip market, but maintaining their dominance in this evolving landscape will require strategic adaptability. They face unprecedented challenges as they

South Korean food giant CJ CheilJedang has reportedly decided to sell its industry-leading bio division, which had been a key pillar alongside its food business, signaling a shift in its strategic growth priorities. According to investment banking sources Tuesday, CJ CheilJedang is believed to have appointed Morgan Stanley as the lead manager for the sale and is engaging with potential buyers. The main auction is expected to take place as early as next month, with the division estimated to value

Second Vice Foreign Minister Kang In-sun visited Posco Group’s battery materials subsidiary Posco Future M’s anode manufacturing plant in Sejong, pledging to support the facility in recovering its production levels. While touring the site Monday, Kang said, “Natural graphite and anode materials are critical minerals with high reliance on imports, underscoring the urgent need to diversify the supply chains. The government will actively support companies, including Posco Future M

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

Daewoong Pharmaceutical announced Tuesday that it has filed for a domestic patent for a new obesity drug that suppresses appetite and promotes fat burning. The company said the candidate drug targets both GLP-1 and GIP receptors and is designed as a small molecule-based oral agonist. GLP-1 and GIP are hormones that help regulate blood sugar levels and body weight. GLP-1 boosts insulin secretion to control blood sugar and suppress the appetite, while GIP supports insulin release and promotes fat

A Seoul court again rejected an arrest warrant for Qoo10 CEO Ku Young-bae on Tuesday on fraud and embezzlement charges related to his e-commerce group's large-scale payment delays to vendors. The Seoul Central District Court made the decision following a hearing Monday, saying there was "room for dispute" over whether the allegations constitute a crime and no evidence suggesting Ku attempted to flee or destroy evidence since a previous request for an arrest warrant was rejected la

South Korean prosecutors raided the headquarters of Woori Bank on Monday as part of an ongoing probe into alleged improper loans linked to family members of former Woori Financial Group Chairman Son Tae-seung. The Seoul Southern District Prosecutors' Office searched offices at Woori Bank’s central Seoul headquarters, including those of the group chairman and the bank’s CEO, seeking internal documents, payment records and transaction logs tied to the alleged 35 billion won ($25 m

Company’s precursor tech designated as security asset for heightened protection

Hana Financial Group Chairman Ham Young-joo pledged to enhance wealth management services tailored to senior generations in Hong Kong, emphasizing the group’s global expertise and commitment to deepening ties between South Korea and the city’s financial sectors. Ham made the remarks during a meeting Thursday with Peter Lam, chairman of the Hong Kong Trade Development Council, following the South Korean financial delegation’s investor relations event in the city. The meeting als