SPC Group's bakery chain Paris Baguette is poised to enter the Italian market in collaboration with Italian coffeehouse chain Caffe Pascucci. SPC Group Chair Hur Young-in inked a business agreement with Mario Pascucci, CEO of the Italian coffee brand Caffe Pascucci, during Pascucci’s visit to Korea on Sunday, for the Korean franchise bakery's expansion to Italy. Paris Baguette's entry into Italy will mark its third expansion into Europe, following launches in France and Brit

Kumho Tire’s model ECSTA HS52 tire has garnered recognition from tire performance tests conducted by German automotive magazines ADAC and Auto Bild, the company said Wednesday. In this year's comprehensive tire performance evaluations, the ECSTA HS52 model achieved third place with a "Good" rating from ADAC and fourth place, also rated as "Good," from Auto Bild. This made it the top-performing tire from a South Korean manufacturer. ADAC’s testing was among 16

South Korean steel firm Posco Group has woven social welfare into its corporate strategies through its child care centers, open not just for their own workers but also those of its partner firms, as part of efforts to help tackle the nation's falling birth rate. The Shared Coexistence Work Child Care Centers, initiated in June 2020, are collaborative ventures between Posco and its suppliers, underscoring the group's dedication to supporting a work-family balance in response to national

KB Financial Group picked banking expert Kwon Seon-joo as its board chair, making her the first woman to serve in the role. The decision was approved at a board meeting on Friday. With over 30 years of experience in the financial industry, Kwon served as the CEO of the Industrial Bank of Korea from 2013 to 2016. She was the first woman to take the top position at a local bank. She joined KB Financial Group's board as an outside director in 2020. Kwon currently serves as the head of Women Co

Hyundai Motor Group revealed on Sunday its plans to double the number of its ultra-fast chargers for electric vehicles in South Korea to 500 by 2025. As of March, the group operates 286 E-pit EV chargers in 54 locations in Korea. This initiative kicked off in April 2021, with a modest yet strategic deployment of 72 chargers distributed over 12 key rest stops on highways. Achieving the 2025 target of 500 units would mean a 600 percent increase from 2021. E-pit is Hyundai Motor Group’s ultra

The average salary of an executive of a major South Korean corporation is almost 11 times that of an average employee working at those companies, a report by an online think-tank monitoring local conglomerates showed Sunday. Chaebol.com analyzed the salaries of the people working for 162 subsidiaries of 20 major conglomerates in South Korea in the 2023 fiscal year, and found that the executives of those companies get paid an average salary of 1.09 billion won ($810,000) a year, compared to 99.6

Woori Bank to start compensation process as early as next week

Korean automaker eyes to export new minivan to global markets within 2024

Hyundai Motor Group said Friday that it had joined hands with the Korean government’s preparatory committee to provide official transportation at the first Korea-Africa summit in June. Under the partnership, the automaker’s luxury brand Genesis will offer a total of 119 vehicles -- 77 units of the G90 flagship sedan and 42 units of the G80 luxury mid-sized sedan during the Korea-Africa summit slated to be held between June 4 and 5 in Seoul and Gyeonggi Province. The Genesis G90 has b

Korean Air Co., South Korea's No. 1 flag carrier, said Thursday it plans to sign a $13.7 billion deal with Airbus to buy 33 units of its latest A350 series aircraft. The company said the deal, which includes 27 A350-1000s and six smaller-sized A350-900s, will be clinched to supplement its long-term fleet operations as it retires its older aircraft. The A350-1000 is the largest in the A350 family, accommodating up to 410 passengers, and uses advanced composite materials to reduce fuel cons

Samsung Display Co. said Thursday it will pay out dividends for the first time since its establishment in 2012, a move that will lead its parent company Samsung Electronics Co. to receive about 5.6 trillion won ($4.2 billion) in dividends. At a shareholders' meeting Tuesday, Samsung Display decided to deliver 25,400 won per share in dividends totaling 6.65 trillion won, the company said in a regulatory filing. Samsung Electronics is the top shareholder of Samsung Display with an 84.8 perc

SK Group Chairman Chey Tae-won was elected to head the Korea Chamber of Commerce and Industry, the nation's largest business lobby, for a second term, vowing to make more policy proposals to bring about disruptive innovation across industries. Chey was sworn in as the 25th chair of the KCCI after earning unanimous support from regional chamber leaders at the extraordinary general meeting held in Seoul on Thursday. He will serve his new three-year term until March 2027. In his inaugural re

Galleria Department Store, one of the nation’s leading luxury goods retailers, said Thursday that its sales to customers of foreign nationality soared to all-time highs in the first two months of this year, surpassing pre-pandemic levels. Its luxury brand stores posted 10 billion won ($8.4 million) and 7.5 billion won in sales to foreign customers in January and February, respectively, marking a 166 percent jump from the same period last year. "Foreign customer sales hit 26 billion wo

Korean chief hints at expanding high-power charging network in EV push

Posco veteran pledges to secure leadership in both steelmaking, battery materials