Samsung Electronics Vice Chairman and co-CEO Han Jong-hee told employees Friday to fully commit to strengthening their key technological leadership to secure uncompromising quality competitiveness. “Without change, neither innovation nor growth is possible," he said during a joint commemorative speech delivered at the tech giant’s 55th anniversary celebration in Suwon, Gyeonggi Province. “Let’s proactively secure technologies that do not yet exist in the world, techn

South Korean bakery giant SPC Group announced Friday that construction of a halal-certified bakery factory in Malaysia is set to be completed by year-end, as it aims to expand the reach of its flagship brand Paris Baguette across Southeast Asia and into the Middle East. Ahead of the plant’s opening in Johor Bahru, SPC Group President Hur Jin-soo met with Johor Chief Minister Onn Hafiz Ghazi in Seoul on Monday to discuss potential collaborations, including local ingredient sourcing and jo

SK Innovation and SK E&S, both part of South Korea’s SK Group, officially completed their merger Friday, forming the largest privately owned integrated energy company in the Asia-Pacific region, with a combined asset value of 105 trillion won (around $76.1 billion). What does the merger mean for SK Innovation? With SK E&S now folded into SK Innovation, the newly merged company can tap into an expanded portfolio that includes oil, chemicals, liquefied natural gas, power generati

Samsung Electronics’ depositary receipts listed in Luxembourg Stock Exchange are to transfer to the London Stock Exchange, according to the company’s filing on Friday. A depositary receipt is a financial security that allows investors to own shares in a foreign company without trading on a foreign market. The decision came upon the tech giant’s board of directors' decision to delist the DRs from Luxembourg, the filing showed. Based on Samsung Electronics' preferred sh

The presidential office said Thursday that a South Korean nuclear power plant project in the Czech Republic will proceed as planned despite a temporary hold placed by the Czech antitrust body. On Wednesday, news reports said the Czech Office for the Protection of Competition had imposed the hold in response to appeals filed by U.S. nuclear energy firm Westinghouse Electric Co. and French energy company Electricite de France. The news came as a South Korean consortium, led by Korea Hydro &

South Korea's state-run oil company said Thursday it has signed an agreement with Kuwait Petroleum Corporation to store 4 million barrels of oil from the Middle Eastern country that can be accessed in case of a global energy crisis, adding to Seoul's efforts to secure a stable supply of energy sources. Under the agreement, the Korea National Oil Corp. (KNOC) will store the barrels in the southeastern industrial city of Ulsan, where they can be supplied domestically when needed. "A

South Korean cosmetics giant Amorepacific said Thursday that its third-quarter operating profits nearly doubled, driven by strong overseas sales and improved operational efficiency in the domestic market. According to a regulatory filing, Amorepacific posted revenue of 1.07 trillion won ($775 million) and an operating profit of 75 billion won in the third quarter of 2024, up 11 percent and 160 percent, respectively, year-over-year. The company attributed this growth largely to its global rebal

Chip giant hints at imminent shipments for Nvidia, possible tie-up with foundry rival TSMC

Posco International, the trading and energy arm of Posco Group, unveiled its first brand identity Thursday, presenting a new vision under the tagline, “We Find Answers Planet Wide.” The new identity reflects Posco International’s mission to seize the lead across diverse sectors, including steel, energy, food and emerging industries, while contributing to sustainable growth, CEO Lee Kye-in explained at the brand launch event, where he outlined the company’s ambitions for g

Carmaker hints at partnerships with Toyota, GM to boost mass-market appeal of hydrogen-powered vehicles

HDC Hyundai Development Company, a leading South Korean real estate developer, said Thursday it has recently seen progress in its ongoing efforts for sustainable growth. HDC recently received an “A” rating in environmental, social and governance management from the Korea ESG Standards Institute, the highest rating in the construction sector. This improvement marks a one-grade increase from the previous year. Key advancements in governance included appointing a female outside director

HD Hyundai Oilbank, one of the nation’s top refiners, announced Thursday that its gas and charging stations will offer customers the chance to win instant rice made from freshly harvested grains. Starting Friday, customers who spend over 40,000 won ($29) at gas stations or more than 20,000 won at charging stations can enter a raffle. Only those with a Bonus Card -- a loyalty card that offers points and benefits -- are eligible. Winners will receive a bundle of three instant rice packs, mad

The world’s first wireless and transparent OLED TV and a premium built-in appliance introduced by LG Electronics have been selected among the 200 best inventions of the year by Time magazine. The transparent OLED TV, dubbed LG Signature OLED T, was included in the consumer electronics criteria, according to industry sources on Thursday. “The TV’s always-on-display feature can display ever-changing artwork, or you can turn it off to simply look like a pane of glass,” the m

Korean automaker Kia said Thursday that it has donated a 2025 Carnival, the automaker's latest edition of its signature nine-seat minivan, to the parents of quintuplets in Dongducheon, Gyeonggi Province. The quintuplets -- two girls and three boys -- were born Sept. 20. The automaker also donated 30 million won ($21,800) to the city of Dongducheon to support households with more than one child, as the country struggles with a low birth rate. (Hyundai Motor Group)

The US burger franchise Five Guys is set to launch its first delivery service in South Korea, enabling more customers to enjoy its menu at their convenience, its Korean operator FG Korea announced Thursday. Starting Friday, the service will be available through one of the nation's biggest food delivery platforms, Coupang Eats, served by two locations in Seoul: Gangnam and Seoul Station. This marks the first time the popular chain has offered delivery in Korea since its launch last year, and