Jeep has opened its first dealership with an off-road experience zone in Guri, Gyeonggi Province, Stellantis Korea said Thursday. With the latest opening, Jeep now has 21 dealerships across the country.

South Korean vegan cosmetics brand Siita said Thursday that it has been recognized as one of the first zero waste companies globally by a sustainable fashion and lifestyle platform affiliated with the United Nations. The Conscious Fashion and Lifestyle Network is an UN-hosted online platform for industry stakeholders, NGOs, and governments to seek collaborations and report progress for the implementation of the Sustainable Development Goals. Siita was introduced as one of the model cases that ha

Britain's antitrust regulator said Wednesday it has approved the integration of South Korea's Korean Air with its smaller local rival Asiana Airlines. Britain's Competition of Markets Authority (CMA) said in a statement that undertakings given by Korean Air are "appropriate" to remedy or mitigate a lessening of competition in the market. Korean Air proposed supporting a new Incheon-London route of British airliner Virgin Atlantic Airways, as the CMA had demanded Korean A

South Korean construction giant Booyoung Group said Wednesday it has donated a total of 200 buses to the Cambodian capital of Phnom Penh as part of its ongoing social contribution activities in the Southeast Asian country. Booyoung Group founder and Chairman Lee Joong-keun and Phnom Penh Municipal Gov. Khuong Sreng attended the delivery ceremony held Tuesday (local time), with dozens of city and company officials and Korean residents there present. The latest donation, worth $8.83 million, aims

'EQT's acquisition of SK Shieldus shows investor confidence in Korean companies'

South Korean e-commerce giant Coupang is extending its winning streak in earnings, posting a profit for the second consecutive quarter in the fourth quarter 2022, according to its earnings report on Wednesday. The US-listed company said it posted quarterly operating profits of $83.4 million in the September-December period, an almost 10 percent growth from $77 million in the third quarter when the company first turned a profit since launching its ultrafast Rocket Delivery service in 2014. The co

Chung Euisun meets 12 ambassadors from Africa, Caribbean, Pacific region in US

Market bellwether Samsung Electronics was the top stock pick among investors in February, with the total trade volume of its stocks soaring to 16.17 trillion won ($12.3 billion) on the nation’s main bourse Kospi, according to data from the Korea Exchange on Wednesday. The tech giant’s daily trade volume was 808.9 billion won on average last month. Posco Chemical, a battery materials company that has recently inked a whopping 40 trillion won supply deal with Samsung SDI, had the sec

South Korean telecommunication giant SK Telecom is launching its metaverse platform ifland in the United States, Europe and Southeast Asia, in cooperation with a number of global telcos, the company said Wednesday. SKT said it inked separate agreements with Germany’s Deutsche Telekom, US’ T-Mobile, Axiata, which operates in 11 countries in Southeast Asia, and Malaysia’s CelcomDigi on expanding the ifland service, on the sidelines of this year’s Mobile World Congress. &ldq

South Korea’s fisheries output moved down 6 percent from a year earlier in 2022, data showed, primarily due to a fall in the production of anchovies, hairtail and squid. Total fisheries output amounted to 3.6 million tons last year, down from 3.83 million tons tallied in 2021, according to Statistics Korea. The statistics agency attributed the overall decrease to the fall in output from the aquaculture, littoral and deep-sea fishing sectors. The number of boats in the deep-sea fishing indu

South Korean duty-free retailers are expected to see a bump in profits this year with the return of Chinese tourists, according to a Bank of Korea report released Tuesday. This year the number of Chinese tourists visiting Korea is estimated to reach 2 million –10 times last year’s 200,000. The Korean government’s lifting of mandated PCR tests for Chinese tourists upon arrival and the recent resumption of short-term visa issuance for Chinese nationals were cited as key driving

GC Biopharma announced on Tuesday that it has signed an asset purchase agreement with US drug developer Catalyst Biosciences to acquire its orphan hematology disorder treatment candidates. Under the agreement, GC Biopharma will acquire three drug candidates including Marzeptacog alfa (MarzAA), a rare bleeding disorder treatment candidate, which is being tested in a phase 3 global clinical trial. With the latest agreement, GC Biopharma aims to launch a first-in-class novel drug in global markets,

Huons, a local bio company, announced Tuesday that the company received regulatory approvals from Health Canada to export the company’s local anesthetics. According to Huons, both ampoule and vial types of its lidocaine -- the most widely used local anesthetic -- have received approvals from Health Canada. The company will first send 70,000 vials of its lidocaine in the second quarter this year. Formative Pharma, a Canadian firm specializing in the registration and distribution of pharmace

The European Chamber of Commerce in Korea announced Tuesday that Dirk Lukat, CEO of Schenker Korea, has been reelected as the chamber’s chairperson at the annual general meeting on Monday. The ECCK is an organization representing over 400 European companies operating in Korea. Board elections for the 2023-2025 mandate were also held on the same day. Per Stenius, chairman and CEO of Reddal, Lee Ga-young; managing director of Knoell Korea; Erik Roelans, CEO of ER-Marine Erik Roelans; co-CEO

SK chairman makes big AI push, offers positive outlook for chips; Samsung's mobile chief hints at XR device under development