South Korea’s leading food delivery app Baedal Minjok, or Baemin, posted a 65 percent growth in operating profit last year, achieving a significant surplus for the second consecutive year. As a result, its German parent company, Delivery Hero, received some 412.7 billion won ($306 million) in dividends for the first time since acquiring Baemin. Baemin's app operator Woowa Brothers announced Friday that its consolidated sales reached 3.41 trillion won last year, marking a 15.9 percent

Korea M&A Exchange, Korea's premier M&A trading platform, has successfully secured a 500 million yen ($3.35 million) investment from Nihon M&A Center, Japan's leading M&A trading platform. A ceremony to mark the agreement between Korea M&A Exchange and Nihon M&A Center was held Thursday at Korea M&A Exchange headquarters in Yeouido, Seoul. As part of the agreement, Nihon M&A Center will acquire approximately 10 percent of Korea M&A Exchange's sh

South Korean environmental and energy solution provider City Oil Field, said Friday it signed a contract to supply decomposition oil derived from waste plastic to Vietnam’s Nam Anh Joint Stock Company. City Oil Field CEO Jeong Yeong-hun and Nam Anh JSC CEO Van Vien Thong signed the purchase agreement at the Vietnam firm’s headquarters in Ho Chi Minh, Thursday. Under the contract, City Oil Field will supply plastic waste derived oil including naphtha produced from its facilities in So

Hana Financial Group, one of South Korea's top four finance conglomerates, has joined hands with Credit Agricole Corporate and Investment Bank to strengthen cooperation in expanding its business in Europe, the firm said Friday. The two entities have signed an agreement to expand cooperation in corporate and investment banking, treasury and trade finance, and financing for environment, social and governance-related initiatives. Hana Financial Group Vice Chair Lee Eun-Hyung, Xavier Musca, the

Dongwon Group Vice Chairman Kim Nam-jung, second son of the group's founder and honorary chairman Kim Jae-chul, was promoted to chairman at the group's board meeting held Thursday. Kim’s promotion fills the position which had been vacant for five years since the retirement of the honorary chairman in 2019. "We will inherit the achievements and management philosophy of honorary chairman Kim Jae-chul, who has led the Dongwon Group for the past 50 years, and discover future g

Samsung Electronics said Friday it has opened a new TV experience zone in Singapore's Jewel Changi Airport -- the lush entertainment and retail complex connecting Changi Airport's terminals 1, 2 and 3 -- to introduce its latest products. The tech giant will display there its newest products, including the 2024 Neo QLED 8K TV, equipped with a third-generation artificial intelligence 8K processor, and OLED TVs that preserve color accuracy and reduce reflections while maintaining image sh

The expected merger between OCI Group and Hanmi Group has been called off after a general meeting of shareholders at Hanmi Science, the holding company of Korea's leading drug firm Hanmi Pharmaceutical, on Thursday. The management conflict within the founding family has also temporarily ended as Lim Jong-yoon and Lim Jong-hoon, the first and second sons of founder Lim Sung-ki, secured enough seats on Hanmi Science’s board to stop the merger. "(OCI) humbly accepts shareholders

South Korea’s growing biopharmaceutical production capacity is increasingly making the country an attractive investment destination for global life science companies, industry sources said Thursday. Since 2016, global pharmaceutical and biotech firms started building their research and development centers and production facilities in Korea, especially within the Songdo Bio Cluster in Incheon, where the biopharmaceutical production capacity has reached 1.2 million liters, the world’s

KT&G's Senior Executive Vice President Bang Kyung-man has cleared the final hurdle to become the company's CEO by winning shareholders approval Thursday, marking the cigarette maker's first leadership change in nine years. The decision was made at the company’s 37th annual general meeting of shareholders, held at KT&G Human Resources Development Center in Daejeon. “I am deeply grateful to the shareholders for entrusting me with the honorable opportunity to serv

Korean IT giant Kakao on Thursday appointed Chung Shin-a as its first female, chief while it is facing urgent challenges in revamping its corporate culture and management. The announcement was made as she gained a nod from shareholders during the annual meeting and a separate approval from the board of directors earlier in the day at the company’s headquarters in Jeju Island. After being named as the CEO nominee in December, Chung has served as the head of the company’s innovation ta

With over 27 years of experience in auto industry, Steve Cloete will take wheel starting May 1

Hyundai Motor Group takes home 3rd consecutive crown for highest global auto honor

Marking the 40th anniversary of its founding, SK Telecom, South Korea's largest wireless carrier by the number of accounts, promised to transform into a global artificial intelligence company, Thursday. The mobile carrier, first established in March 1984 under the name, Korea Mobile Telecommunication Services Corp., celebrates its 40th anniversary on Friday. "SKT's 40 years of achievements were made possible by its unique DNA of overcoming challenging situations and creating a his

South Korean IT solutions provider LG CNS said Thursday it has agreed to establish a joint venture with one of the largest conglomerates in Indonesia to strengthen digital transformation innovation in the 16th largest economy in the world. Under the agreement, LG CNS and Sinar Mas Group will set up a 50-50 joint venture in the latter half of this year to promote consulting, construction and operation for data center services and cloud conversion services, targeting Indonesian companies and publi

Korean battery material and chemical company Posco Future M has been recognized by Fortune Asia as one of the top 30 most innovative companies in Asia, set to drive future growth, the company said on Thursday. The 2024 Fortune Asia Future 30 award was presented at the Fortune Innovation Forum in Hong Kong on Wednesday. Posco Future M's progress from traditional industrial materials to leading-edge sectors like cathode material production has been marked by significant achievements, includin