The government and the ruling People Power Party will hold a consultative meeting this week to decide on a hike in electricity and gas rates for the second quarter, officials said Sunday. The meeting will be held Monday to decide on the extent of an increase in electricity rates, which has been postponed for more than a month, according to officials from the ruling party. The government and the ruling party "tentatively" decided to raise the electricity rates by 8 won ($0.01) per kilow

N Brand performance lineup added for first time for longest-running family sedan

High-profile meeting prompts speculation about new partnership on chips for autonomous driving

US space firm’s internet service expected to launch in 2nd quarter

US investment firm Capital Group has increased its stake in Hana Financial Group from the previous 5.08 percent to 5.55 percent, becoming the Korean financial giant’s third-largest shareholder. Following the 5.08 percent stake purchase in February, the US firm announced its additional stake purchase of 0.47 percent last week. With the latest purchase, Capital Group becomes the third-largest shareholder after the National Pension Service with 8.78 percent and BlackRock with 6.19 percent. Ca

Hana Financial Group Chairman Ham Young-joo (front left) tests a loan-linked payment service on the Line Bank app using a Samsung Electronics smartphone during the “Line Bank X Samsung” event held at a shopping mall in Jakarta, Indonesia on Thursday. Line Bank is a digital banking service jointly launched by Hana Bank and Line, the messenger platform, in Indonesia in 2021.

South Korean telecommunications giant KT announced Sunday that it will push forward a non-face-to-face health care project in Vietnam involving health examination centers and artificial intelligence in medical fields. The company plans to conduct a pilot service for cancer and chronic disease patients using a remote care platform with KT Healthcare Vina, a Vietnamese medical corporation established earlier this year. Post-discharge management of gastric cancer surgery patients and health care ma

SK Group is sponsoring art and cultural festivities in New York as part of business efforts to expand its presence in the US market. The SUPEX Council, the group’s highest consultative panel, confirmed that five SK affiliates -- SK E&S, SKC, SK On, SK C&C and SK Ecoengineering -- will participate as corporate sponsors in the Lincoln Center's Summer for the City festival in New York from June 14 to Aug. 12. It is the group's first time employing the key “Global Sto

South Korean food giant Pulmuone said Sunday it is planning on expanding the production line of its Asian noodle products in the United States by the end of this year, following its burgeoning Asian noodle business there. According to Pulmuone, the company said its sales of Asian noodles in the US were tallied at $72.2 million last year, seeing an on-year growth of 65 percent. Over the course of the last three years, the company's Asian noodle products in the US had seen a 119 percent growt

Kim Dong-sun set to nurture his own retail empire, with his father’s succession scheme taking shape

Korea Aerospace Industries stands at core of country’s space milestones

Kakao Corp., a major South Korean tech firm, beat its rival Naver Corp. in terms of average wage for three consecutive years through 2022, data showed Sunday. Kakao, which operates the country's most popular mobile messenger, KakaoTalk, saw its average wage reach 139 million won ($103,422) last year, hovering above the 134.49 million won posted by Naver, according to the data released by the Financial Supervisory Service. The figure includes gains from exercise of stock options. The amount

South Korean e-commerce firm Coupang is catching up with Shinsegae, one of the country's largest and oldest retail players, by closing the sales gap to less than 10 billion won ($7.5 million) from 1 trillion won a year ago, according to their earnings reports Friday. The 13-year-old e-commerce operator's increasing number of paid subscribers is the main driver behind its improved performance, posing threats to conventional retail brands like Shinsegae. According to Coupang's lates

Investment advisory firm Mavek and multinational software company SAP will jointly host a global semiconductor webinar on June 8, which will shed light on the semiconductor industries in Japan, Korea and Taiwan. Titled “Taiwan, Japan, & South Korea -- Where do they head?” -- the upcoming webinar is the third installment of an ongoing four-part series called “Global Semiconductor Chip Wars & Implications.” The series features speakers from major global institutions

Self-rescue package, which includes building sales and salary freezes, drawn up to deal with cumulative losses of nearly W40tr