LG Group said Sunday that it has donated a total of 12 billion won ($9.24 million) to Community Chest of Korea, a local charity organization, as part of its year-end charitable giving. The ceremony was held at the charity’s Seoul office on Friday, with officials including CCK Chairman Kim Byong-joon and LG President and Head of Management Support Division Ha Beom-jong in attendance. "We hope that our neighbors in need can spend a warm year-end with hope and courage," said LG Pres

The combined vehicle sales of Hyundai Motor Co., South Korea's top carmaker, and its affiliate Kia Corp. in the United States surpassed 1.5 million units this year, according to industry data on Sunday. Hyundai and Kia sold 788,403 and 722,176 units, respectively, over the January-November period, the data showed. Hyundai's figures include sales of its independent Genesis brand, which also hit an annual record of 62,372 units. The combined figure marks the highest yearly sales since Hy

Senior citizens flock for 3,000 won gukbap, 200 won coffee, 6,000 won hair cuts as prices soar in Seoul

BHC, one of South Korea’s biggest fried chicken franchises, said Friday it has adopted automatic frying machines from LG Electronics on a trial basis. “BHC has introduced LG Electronics' automatic frying machines to some BHC stores in the country. The company plans to expand the adoption of the machine after testing its efficiency,” the BHC official said. The automatic frying machine, known as Tuiibot, developed by an internal venture unit under LG Electronics’s busi

Hugel, South Korea's botulinum toxin products maker, has been recognized by the government for its recent accomplishments in exports, the company said Friday. According to Hugel, the company has been awarded by the Ministry of Trade, Industry and Energy and the Korea International Trade Association for reaching the $70 million export milestone between July of 2022 and June this year. The value of the company’s exports in the 12-month period was the highest among the companies based in

US Treasury unveils guidelines for manufacturers looking for tax credits under Inflation Reduction Act

Samsung Electronics inked a partnership with the Korean Institute of Communications and Information Sciences for access to telecommunication-related academic papers to use in the training of its artificial intelligence program, the company said on Friday. Samsung Executive President Cheun Kyung-whoon leading Samsung Research signed the agreement with Korean Institute of Communications and Information Sciences President Hong Een-kee at the company's research and development campus in Seoul o

But Kia's Niro and Soul become ineligible for France's consumer cash incentives due to carbon footprint

Deal with ASML raises possibility that Samsung could get ahead in producing cutting-edge 2-nanometer chips

Taihan Cable & Solution Co. said Thursday it will raise 526 billion won ($406 million) in a rights issue to expand its production facilities amid rising demand for submarine cable products. Taihan Cable plans to issue 62 million common shares at 8,480 won per share, and the shares will be sold to its existing shareholders, the company said in a regulatory filing. The South Korean cable company said it will use 470 billion won out of the proceeds to build its second domestic submarine cable p

Korea Aerospace Industries Co. (KAI) said Thursday it has partnered with two defense industry companies in Poland to establish a support system for maintenance and related services for its FA-50 fighter jets exported by KAI. KAI said it signed a memorandum of understandings with WZL-2 and WCBKT, subsidiaries of Poland's state-owned defense group PGZ, for the establishment of the support system for FA-50s in Warsaw on Monday. In July 2022, KAI signed a $3 billion deal with Poland to export 4

Posco Holdings announced Thursday that the group has developed a key system used to acquire lithium hydroxide together with local secondary battery company W-Scope Korea. Posco Holdings has been using a membrane electrodialysis process to produce battery-grade lithium hydroxide from lithium brine and ore. But the group was solely dependent on imports of components used in its membrane electrodialysis process. “The development of the membrane electrodialysis system used to acquire lithium h

Korean automaker to redefine brand strategy for 'Platform Beyond Vehicle'

Dongwon, Harim at odds over acquisition of Korea’s biggest container shipper

US battery maker to unveil new battery development project with Korean auto giant next year