South Korean steelmaker Posco said Monday that it has completed the construction of the first unit of its galvanized steel sheet plant for automobiles in China via its joint venture with Chinese steel producer, HBIS Group. Some 200 officials, including Posco CEO Choi Jeong-woo, Posco Vice Chairman Kim Hag-dong and HBIS Group Chairman Yu Yong, attended the completion ceremony held in Hebei province on Oct. 19. In 2021, Posco and HBIS Group inked an agreement to establish a $600 million joint comp

SK Group Chairman Chey Tae-won (right) shakes hands with Prime Minister of Vietnam Pham Minh Chinh at the launch ceremony of the National Innovation Center, Vietnam on Saturday. During the two-day visit to Hanoi, Chey met with key Vietnam government officials to share SK's business strategies and support Vietnam's green transformation toward net zero emissions. SK also backed $30 million for the construction of the NIC to promote Vietnam's digital era, tightening the three-decade

It may be time for Kakao to consider vertical growth rather than M&A-led expansion

Korea Ginseng Corp., the country’s leading ginseng manufacturer, said Monday that it won a minister's award from South Korea's Industry Ministry, for its ginseng cultivation technology and contribution to fostering the national intellectual property industry. It was named the best company in the field of intellectual property management during an award ceremony co-hosted by Korea’s Ministry of Trade, Industry and Energy and Korean Intellectual Property Office at The Shilla

South Korea's agricultural authorities said Saturday they have vaccinated nearly 82 percent of cattle subject to emergency inoculation amid growing concerns over the nationwide spread of lumpy skin disease. As of Saturday morning, health authorities have administered the vaccine to 357,000 out of 438,000 cows subject to emergency inoculation, according to the Ministry of Agriculture, Food and Rural Affairs. Since the first-ever outbreak of the viral infection last week, the country has so f

LG's Q3 earnings come to W996b, up 33.5 percent on-year

With upbeat earnings in the third quarter, Hyundai Motor Group's yearly operating revenue has surpassed the 20 trillion won ($14.8 billion) mark, the company’s earnings report showed Friday. The South Korean auto giant’s Hyundai and Kia brands hit a combined 20.8 trillion won in operating profit and sales revenue of 196.5 trillion won during the January-September period. The two carmakers’ annual profit and revenue in 2022 were 17.5 trillion won and 229.8 trillion won, res

Mirae Asset Securities, Korea's investment bank and securities firm, announced that its Vice Chairman Kim Mi-seob has been appointed as its new CEO. The announcement made Friday came after Mirae Asset Financial Group conducted a massive reshuffle in its leadership on Oct. 23. Kim, the former president of Mirae Asset Securities, was promoted to the position of the company's vice chairman. Having joined Mirae Asset Financial Group in 1998, Kim has contributed to the overseas expansion of

Meta Platforms has failed to provide a proper channel for communication to uphold its legal responsibilities in Korea, a lawmaker claimed Friday, citing data provided by the Ministry of Science and ICT. The Science Ministry lacks basic contact details for Meta Communication Agent Limited, which refers to Meta's legal entity that is supposed to serve as a communication channel with Korean authorities. The only available means of contact to the agent is an automated landline that redirects ca

Participants of Hyundai Motor Group’s 14th World Skill Olympics, the biannual competition event for car maintenance technicians, pose for a photo in Cheonan, South Chungcheong Province, Thursday. This year, Haydar Ali from Indonesia won first place among the 75 participants from 56 countries in Europe, Central America and Southeast Asia. Since 1995, the annual event has evaluated mechanics’ skills in diagnosing and fixing problems with international combustion engine cars and, more

Hyundai Mobis Co., South Korea's leading auto parts maker, said Friday its third-quarter net income jumped more than 70 percent on-year thanks to robust sales of its high-end auto components. Consolidated net profit came to 998.1 billion won ($736.8 billion) during the July-September period, up 78.3 percent from a year earlier, the company said in a regulatory filing. Sales grew 7 percent on-year to 14.23 trillion won, while operating profit jumped 19.8 percent to 690.2 billion won. The ear

Dyson Korea, the Korean arm of the UK consumer electronics giant, said Friday that it has opened a pop-up store set to operate through Nov. 5 at IFC Mall in Yeouido, western Seoul. The pop-up follows the debut of its latest hair straightener product Dyson Airstrait earlier this month. In the pop-up, visitors are allowed to freely test the latest hair device which dries and straightens wet hair simultaneously, as well as receive customized tips and explanations from Dyson’s professional hai

Gastroesophageal reflux treatment Fexuclue to make foray into Brazilian market in first half next year

With plans for 8 plants boasting a total production capacity of 1.3 million liters, firm eyes new modalities and CDO business expansion

Hyundai Motor Group said Thursday it hit record earnings in the third quarter thanks to all-time high sales in the US market. The company’s operating profit from July to September skyrocketed 146.3 percent from last year to 3.8 trillion won ($2.8 billion), its highest figure since 2011. Its sales revenue increased 8.7 percent to 41 trillion won in the same period. The world’s third-largest carmaker sold a total of 1.04 million cars abroad and within Korea, a 2 percent jump from a yea