Drastic reform measures likely to come out no later than early 2024

Pernod Ricard Korea on Monday launched Redbreast 15 Year Old, a more aged and spicier variant of its Irish whiskey brand, targeting the evolving demand for non-Scotch whiskeys in the rapidly expanding domestic market. The world's second-largest wine and spirits seller previously introduced its Irish whiskey, Redbreast 12 Year Old, for the first time in Korea in September. While retaining the smooth character typical of traditional Irish pot still whiskey, the 15 Year Old brings a spicier pr

Bithumb, one of South Korea's four major cryptocurrency exchanges, is preparing to become the first cryptocurrency exchange to go public in Korea, in a move to expand its share in the market currently dominated by its larger peer, Upbit. "We selected Samsung Securities as our manager for initial public offering at the end of (October). We aim to go public during the second half of 2025," a Bithumb official said on Monday. The company is primarily considering a listing on Korea&#

The Upbit D Conference, a leading blockchain event hosted by Dunamu, operator of the country's largest crypto exchange Upbit, took place Monday, sharing ideas on how to expand the blockchain industry. Under the slogan “All That Blockchain,” the event invited some 40 experts from 29 countries as speakers to discuss related trends, policies, finance and content involving blockchain. “As the blockchain industry evolves, the UDC continues to grow,” Song Chi-hyung, chai

Startup becomes 1st Korean company to succeed in launching commercial cube satellite

South Korean shipbuilder Hanwha Ocean said Monday that it will expand investment in its wind power business from the initial target of 200 billion ($151 million) to 300 billion won to secure an edge in the burgeoning industry. The company said it plans to issue new shares to raise capital for the planned investment. Currently, the global market for offshore wind power generation is growing at an annual rate of 18 percent. The field is expected to become one of the major renewable energy sources

Carmaker’s first plant at home in 29 years to become operational in 2026

Latest DRAM package designed to upgrade AI for mobile devices

South Korean trading company STX said Monday that it has signed a trilateral agreement with its partners based in Peru and Brazil, forming a secure supply chain that includes mining lithium and processing lithium concentrate. Lithium is a key mineral used for making rechargeable batteries. Under the partnership, STX announced a strategic equity investment in a lithium mine in Peru, which is estimated to have 18.1 million metric tons of lithium deposits. Signing an offtake agreement, it will also

Hyundai Motorsport's customer racing team BRC Hyundai N Squadra Corse scored its fourth win of the season at the eighth round of the 2023 Kumho TCR World Tour, at the Mount Panorama Motor Racing circuit in Australia over the weekend, the South Korean automaker said Monday. Driver Norbert Michelisz crossed the finish line first in Race 2 in his Elantra N TCR to secure his third victory of the season. (Hyundai Motor Group)

Samsung Electronics Co. accounted for more than 80 percent of South Korean smartphone sales in the third quarter amid contracted demand for high-end gadgets, industry data showed Monday. Some 3.4 million smartphones were sold in the country during the July-September period, down 10 percent from a year ago, according to the data by market research firm Counterpoint Research. Samsung's smartphones dominated the market, capturing 84 percent of total sales, thanks to the popularity of its new f

Kumho Petrochemical Group has reiterated its corporate-wide commitment to enhancing environmental and safety measures while developing a sustainable management system to begin carbon-neutral growth by 2035 and achieve complete carbon neutrality by 2050. Kumho Petrochemical and its affiliates, including Kumho P&B Chemicals, Kumho Mitsui Chemicals, Kumho Polychem, Kumho T&L, and Kumho Resort, have coordinated through an internal ESG council to align on environmental and safety management

Engineers of Hi-MSolutek, LG Electronics’ service and maintenance affiliate, inspect an air conditioner in a classroom designated as a venue for the Suneung, Korea’s College Scholastic Ability Test, slated for Thursday this week. LG Electronics said it is running inspections of its air conditioners installed at 250 examination sites across the country until Wednesday. (LG Electronics)

News has emerged that famous franchise CEOs in the food service industry were severely criticized during an inspection conducted by the National Assembly. Abuse of power and unfair contracts in the franchise sector have been continuously pointed out as chronic issues. At this juncture, a better understanding on franchises and the Fair Trade Commission is needed. We will examine the related issue with Jeong Yeon-jae, attorney at law. Q. How did franchises become a widely used business model? En

South Korea's Hyundai Motor Group stands as the second-largest player in the U.S. market for electric vehicles (EVs) despite concerns surrounding Washington's protectionism policy, data showed Sunday. Hyundai Motor Co. took up 4.8 percent of the U.S. EV market in the January-September period, with its smaller sister Kia Corp. accounting for 2.7 percent, according to U.S. magazine Automotive News. Their combined market share came to 7.5 percent, or 64,000 units, taking up the second-l