Automaker’s US subsidiary bets on new Genesis, profitable SUV models

Korean tech giant plans to spur its entry into sports entertainment market

Starting with pregnancy apps, Dutch electronics giant prepares new health care solutions for Korea

South Korea-based oil refinery S-Oil said Sunday that it conducted a New Year’s hiking event which was attended by its CEO and employees to share New Year’s resolutions and reinforce their commitment.S-Oil CEO Hussain A. Al-Qahtani was joined by some 200 employees comprised of team leader-level managers, new employees and officers and hiked on Cheonggyesan on Saturday, the company said.  During the hiking trip, Al-Qahtani told employees, “Uncertainties that we face today r

Lotte Mart said Sunday it will open two Honey Butter Almonds stores, following the snack’s popularity among foreign customers. According to the company, Honey Butter Almonds was recorded as the most popular snack product by foreign customers, posting the highest sales in the previous two years, with sales rising by 18.2 percent in 2018 and 7.9 percent in 2019 at Lotte Mart outlets. To meet the trend, Lotte Mart said it will open two Honey Butter Almonds stores in Seoul Station and Gim

New Jinro hits 100 million bottles in sales less than a year after launch

Shake Shack will roll out the limited-edition Roasted Garlic Mushroom Burger in South Korea on Monday. According to the chain’s Korean operator SPC Group, the burger is the first new menu item of the year.  It comprises Angus beef patty, deep-fried shallots and Portobello mushroom, topped with garlic mayonnaise sauce and provolone cheese inside a potato bun, the company said. It will be priced at 8,900 won ($7.66).Along with the new burger, Roasted Garlic Mayo Fries will be available

Samsung BioLogics, Celltrion CEOs to speak at world’s largest health care investment symposium

Nuclear safety agency approves additional spent fuel storage facilitySouth Korea's nuclear safety agency said Friday that it has approved the construction of seven additional spent fuel storage structures at the Wolsong nuclear power plant to allow for uninterrupted power generation.The decision comes after the state-run Korea Hydro & Nuclear Power Co.,  said the load at the plant hit 93.1 percent of capacity in September 2019, according to the Nuclear Safety and Security Commission. Th

HDC Hyundai Development Co. said Friday it will raise 400 billion won ($344 million) in a rights issue to help finance its acquisition of Asiana Airlines Inc.HDC plans to issue 21,969,110 shares, or half of its outstanding 43,938,220 shares, at about 18,550 won per share, the company said in a statement.The price will be finalized on March 2, and investors are required to make their payments for the purchase of the new shares by March 13. The new HDC shares are set to be listed on the main KOSPI

SK Innovation Co., South Korea's leading refiner and chemical company, said Friday it will invest 1 trillion won ($860 million) to build its second car battery plant in the United States.SK Innovation has already invested 1.9 trillion won to build a car battery plant with a capacity of 9.8 GWh in Georgia.It has decided to make an additional investment to build a second plant in the US to meet soaring demand for all-electric vehicles there, a company spokesperson said. SK Innovation chief executi

A South Korean business association has welcomed on Friday the passage of three revised bills that ease regulations on the use of personal information. A day earlier, the National Assembly passed the revisions of three bills related to the promotion of information and communication networks, personal information protection and credit information protection in a plenary session. They were proposed in November 2018. “Data is like crude oil in the fourth industrial revolution. The amendm

Renault Samsung Motors Corp. said Friday it has decided to partially shut down its sole plant in South Korea to reduce production losses resulting from strikes staged by its unionized workers. In the past 12 days, the union held partial strikes at the plant in Busan, 453 kilometers south of Seoul, demanding higher wages. It caused production losses of 6,000 vehicles worth 110 billion won ($95 million). "We have decided to shut down the plant for the night duty time that begins at 3:45 p.m.

Incumbent as well as titular leaders of South Korea’s major conglomerates saw changes in their stock assets over the past several years, according to data released by corporate tracker Korea CXO Institute.While the asset value of stocks held by ailing Samsung Electronics Chairman Lee Kun-hee has doubled since 2011, it has reduced by half for Hyundai Motor Group Chairman Chung Mong-koo.The stock assets were tracked between August 2011 to Jan. 2. The stock assets of late LG Group Chairman Ko

Korean e-commerce giant Coupang is preparing for an initial public offering as early as 2021, according to industry sources on Thursday. Citing anonymous officials, Bloomberg reported that Coupang has begun gearing up for an IPO, starting with tax structuring. Established in 2010 by CEO Kim Bom, Coupang was valued at $9 billion at the end of 2018. Amid rumors that the SoftBank-backed company would go public, Kim said he had mulled the option -- the “most difficult” in his career -- i