Marking 1st year as chairman, Samsung chief has his hands full with hot-button issues

SK hynix, the world’s second-largest memory chip maker, said Thursday that it plans to boost its investment in high-value DRAM chips such as High Bandwidth Memory and DDR5, in line with the growth of the artificial intelligence market. “The capital expenditure for next year will increase compared to this year. … We’ll minimize the expansion by considering investment efficiency and financial stability,” Kim Woo-hyun, vice president and chief financial officer at SK

Prices of Korean beef rose following a series of lumpy skin disease breakouts in cattle across the country, data released Thursday showed. According to data from the Korea Institute for Animal Products Quality Evaluation, the wholesale prices of Korean beef logged an average of 19,365 won ($14.25) per kilogram as of Wednesday. The price saw a 6.5 percent increase compared with 18,179 won a week ago prior to the outbreak. The first confirmed case of lumpy skin disease was reported last Friday. Du

Samsung SDI said Thursday it has posted a record-high revenue in the third quarter, driven by upbeat sales of electric vehicle batteries. In the July–September period, the company’s revenue surged 10.8 percent on-year to 5.9 trillion won ($4.4 billion), mostly boosted by increased sales of prismatic and cylindrical batteries cells for EVs which saw a 60 percent jump in profit and a 9.3 percent operating profit margin. Its operating profit decreased 12.3 percent to 496 billion won in

A double-decker bus named the LG Expo Bus, featuring the slogan "Busan is Ready," passes by Big Ben in London, in this photograph released by the company on Thursday. LG Group has deployed 210 similar double-decker buses as part of their efforts to promote Busan's candidacy for the World Expo. The conglomerate is expected to ramp up promotional efforts in London, Brussels and Paris until Nov. 28, when the host country of the 2030 World Expo is decided. (LG Corp.)

South Korean energy giant SK Innovation announced Thursday that it will launch a mangrove restoration project on Vanua Levu, the second-largest island in Fiji, as part of its ongoing environmental campaign to tackle climate change. Under the agreement signed with the Fijian government the day before, the project, which is scheduled to begin in November, will be fully funded by SK Innovation. “This mangrove restoration project goes beyond simple environment protection as it embodies our str

McDonald's Korea said Thursday it will increase the price of 13 menu items by an average 3.7 percent, including the signature Big Mac, next week due to higher food and shipping costs. Under the plan, the price of a Big Mac will rise 300 won to 5,500 won ($4.06) on Nov. 2, while that of a McSpicy Shanghai Burger and Bulgogi Burger will also increase by 300 won each, according to the Korean unit of the US fast food chain. The price of an Egg Bulgogi Burger will go up 400 won, and that of an I

SK hynix Inc. said Thursday it posted losses for the fourth consecutive quarter in the third quarter of this year but recovering demand for high-performance products helped narrow its operating deficit. The world's second-largest memory chip maker said in a regulatory filing its operating losses amounted to 1.79 trillion won ($1.32 billion) for the July-September period on a consolidated basis, compared with a profit of 1.67 trillion won a year ago. Net losses came to 2.18 trillion won, plu

Samsung Biologics said Wednesday it exceeded 1 trillion won ($741 million) in quarterly sales for the first time, following the operation of its fourth plant and profits generated by long-term contract manufacturing orders. According to regulatory filings for the July-September period, Samsung Biologics’ quarterly sales on a consolidated basis hit a record high of 1.34 trillion won, marking 18 percent on-year growth. Operating profits were 318 billion won during the same period, down 2 per

BARCELONA, Spain – Prestige Biopharma, a Kospi-listed biopharmaceutical firm based in Singapore, said Tuesday it is seeking to complete its value chain of new drug development with its upcoming research center in Busan. “Prestige Biopharma’s research and development of antibody drugs will pick up speed after the company opens its new research center in Busan,” Prestige Biopharma Chairman Park So-yeon told reporters at the Convention on Pharmaceutical Ingredients (CPHI) Wo

BARCELONA, Spain -- SK Pharmteco, SK Inc.’s contract bio-manufacturing subsidiary, said the company’s burgeoning cell and gene therapy (CGT) business will become its new growth engine. “We continue to expand our CGT business, and the capacity we are building over the next years will allow us to grow this business,” SK Pharmteco CEO Joerg Ahlgrimm said during a press conference Tuesday held on the sidelines of the Convention on Pharmaceutical Ingredients (CPHI) Worldwide,

Expresses high hopes for new autoimmune disease treatment Zymfentra to become blockbuster drug

Southeast Asia to remain as strategy focus; Poland, Middle East full of potential

Shihan Finance, Shinhan Card’s subsidiary in Kazakhstan, has secured a $60 million investment from the International Finance Corporation, the Korean car issuers under Shinhan Financial Group said Wednesday. The latest funding is the first of its kind announced since Shinhan Financial Group and the IFC signed a memorandum of understanding in May this year to cooperate in environmental, social and governance projects. Of the $60 million, some $20 million will be used first to fund the compan

Korea Aerospace Industries looks to venture into space sector in Middle East