Kakao Healthcare, the digital health care unit under platform giant Kakao, on Thursday launched an artificial intelligence-based mobile blood sugar management service, PASTA, in Korea, hinting at plans for its overseas debuts in Japan and other countries. “Health care costs attributable to diabetes are increasing every year, and we aim to help reduce the costs through our new service," Kakao Healthcare CEO Hwang Hee said during a press conference at the company’s headquarters in

Hyundai Motor continues to implement a premium pricing strategy emphasizing brand power and quality in global markets, as the automaker unveiled the pricing for the all-new 2024 Santa Fe sport utility vehicle which is substantially more costly than both its predecessors and South Korean counterparts. The US market will see an increase in the sticker price of all 2024 Santa Fe trims, ranging from an additional $2,250 to as much as $5,200, in comparison to the 2023 model, according to Hyundai Moto

EcoPro, a South Korean battery materials manufacturer, has joined hands with US battery recycling firm Cirba Solutions to ramp up its lithium-ion battery recycling business in North America. According to EcoPro on Thursday, the two sides recently signed a memorandum of understanding to cooperate to deal with Washington’s Inflation Reduction Act and expand the global supply chain of electric vehicle batteries. In the EV battery sector, the IRA incentivizes domestic manufacturing and require

Posco veterans, outsiders to vie for top seat at steel giant

A local consortium was selected as the new operator of the 28 gigahertz band of the fifth-generation network in South Korea on Wednesday, the science ministry said, becoming the country's fourth mobile carrier. Stage X, a consortium of Stage Five, a communications affiliate of tech giant Kakao Corp., and other unidentified companies, will be the fourth operator of the 5G network. Currently, three major mobile carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- are the country's

Samsung C&T said Wednesday its 2023 net profit gained 6.8 percent from a year earlier, driven by the strong performance of its construction and resort business. The net profit came to 2.71 trillion won ($2 billion) in the three months ended in December, compared with 2.54 trillion won a year ago, the company said in a regulatory filing. Operating profit was 2.87 trillion won, compared with 2.52 trillion from the previous year, and annual sales fell 2.9 percent to 41.89 trillion won. The trad

A labor union comprising workers of four Samsung Group affiliates will officially set sail next month, industry sources said Wednesday. The unionized workers held their first intercompany labor union meeting earlier in the day to make an internal announcement of the union's establishment, according to the sources. The Samsung affiliates are Samsung Electronics's device experience (DX) division, Samsung Fire & Marine Insurance, Samsung Display and Samsung Biologics. The integrated u

Korean Air said Wednesday that its planned merger with smaller domestic rival Asiana Airlines has gained approval from Japan’s antitrust regulator, with only two crucial decisions left to come from the European Union and the US. According to the airline, the Japan Fair Trade Commission approved the deal worth 1.8 trillion won ($1.34 billion), the process of which has been being delayed for over three years amid monopoly concerns by foreign authorities. The high-profile merger has receive

South Korean food manufacturer Samyang Foods said Wednesday it posted 1.19 trillion won ($893 million) in sales and 146.8 billion won in operating profit last year -- the highest figures in the company's history. According to the company, its sales and operating profit rose by 31 percent and 62 percent, respectively, while its net profit increased by 56 percent to 124.9 billion won. Samyang Foods attributed the upbeat sales to its bestselling Buldak Spicy Chicken Ramen series in overseas ma

Posco Group and the United Arab Emirates' Abu Dhabi National Oil Company will collaborate on blue hydrogen production facilities in Gwangyang, South Jeolla Province, Posco International said Wednesday. Posco International, Posco Holdings and ADNOC signed a three-way strategic collaboration agreement at the UAE energy group’s headquarters in Abu Dhabi. Under the agreement, the three companies will build blue hydrogen production facilities at Posco International’s liquefied natura

Posco Future M said Wednesday it broke the record in revenue last year, driven by large-scale supply deals of electric vehicle battery materials. According to the company’s earnings report, annual sales revenue soared 44.2 percent on-year to 4.76 trillion won ($3.57 billion). In particular, sales of the battery materials business skyrocketed 73.4 percent to 3.36 trillion won, with an increase in the supply of cathode products, largely consisting of premium high-nickel products. Anode bat

Top memory chipmaker to stick to production cuts, hopes for turnaround in H1

Toronto-based multinational mining giant looks to diversify supply channel for critical minerals amid rising geopolitical risks

Daewoo Engineering & Construction CEO Baek Jung-wan and Nigerian National Petroleum Corporation’s Group General Manager Mele Kolo Kyari reaffirmed their commitment to their ongoing joint oil and gas projects in Nigeria, a sector vital to the African country's economy, during a meeting at Daewoo's Seoul headquarters on Monday. Daewoo E&C Chairman Jung Won-joo and Nigdel Oil Chairman Joseph T. Penawou were also present at the meeting. Daewoo E&C, with a history in Niger

Despite mixed reactions to taste, nutritional value, consumers turn to lower price of imported milk