The ongoing feud between Lee Soo-man and SM Entertainment will likely continue until the regular shareholders' meeting, slated for March 31

Renault Korea said Tuesday its labor and management have agreed to join forces to push for the company’s Busan factory to become a global production base for the French carmaker. According to the company, Renault Korea CEO Stephan Deblaise and Kim Dong-suk, the labor union leader, signed a joint declaration that underscores a win-win partnership and mutual trust. “Based on renewed labor-management relations, we should fulfill our vision as one team. Without cooperation from the lab

“Eol-juk-a,” a shortened version of the phrase that roughly translates to “iced Americano even if I freeze to death,” has been vindicated as the cold beverage turned out to be the most popular menu in a nationwide coffee franchise during January, the coldest month in South Korea. Hollys Coffee, one of South Korea’s top 10 coffee franchises, on Monday announced sales statistics for January when the average temperature was below zero. The figures, collected from custo

If deal is finalized, SeAH would become 1st S. Korean firm to secure supply contract with Elon Musk’s US space giant

Competition for operational rights for lucrative duty-free shops at Incheon Airport is heating up, with China Duty Free Group, one of the largest duty-free retailers globally, joining the race. According to industry sources on Monday, CDFG offered its bid to join the heated race after participating in a tender briefing session last month. Competing head-on with Korean rivals such as Lotte, Shinsegae and Hotel Shilla, the Chinese duty-free giant aims to win as many as two business licenses to ope

South Korean builder Hyundai Engineering & Construction said Monday that the builder's new rental apartment complex Hillstate DMC Station boasts a convenient location as it is located near the DMC Subway Station and other landmark facilities in the neighborhood. Hillstate DMC Station will consist of two 36-story apartment buildings housing a total of 299 households in Jeungsan-dong, Eunpyeong-gu, northern Seoul. Adding up to its proximity to a subway station, which is considered a key m

SK to remain 2nd-largest shareholder for joint operation; dismisses drastic change in leadership

South Korea’s leading steelmaker Posco said on Monday that the company will build an electric furnace at the company’s manufacturing facility in Gwangyang, South Jeolla Province, as part of the company’s low-carbon production transition. Posco said a total of 600 billion won ($463.3 million) will be invested to build the electric furnace, which will have an annual production capacity of 2.5 million metric tons. Construction of the electric furnace will start in January next yea

SK Telecom, South Korea's largest mobile carrier, said Monday it would look to lead the artificial intelligence transformation in all areas of its business with its advanced technologies and to establish an alliance with major AI service providers to foster an ecosystem. SK Telecom Chief Executive Officer Ryu Young-sang unveiled the telecommunications giant’s “AI to Everywhere” strategy to lead innovation in a press conference held a day before the annual Mobile World Cong

Operating profits for Uniqlo double, while ABC Mart's triple

Kumho Tire announced Monday that it signed a title sponsorship deal for the Kumho Touring Car Racing World Tour with WSC Group in Lugano, Switzerland, Thursday. The South Korean tire maker plans to supply tires for all the vehicles competing in the 2023 TCR World Tour, an international touring car championship for TCR cars promoted by WSC Group. The Kumho TCR World Tour will be held at locations in Portugal, Belgium, Italy, Hungary, Uruguay, Argentina, Australia and Macao. In particular, the Bel

Samsung Electronics said Monday it is holding promotional activities for Busan’s bid to host the 2030 World Expo in Barcelona during the Mobile World Congress 2023 that kicks off this week. Promotional banners and videos will be set up at the company’s exhibition booth and other key areas across the city.

People suffered under higher interest rates on mortgages and credit loans last year

The Hankyoreh newspaper said Monday it could not confirm any direct influence on its articles by a financial transaction that one of its senior reporters had with a key culprit in a high-profile development scandal. Announcing the result of its nearly two months of internal probe into the case, the daily said it reached the conclusion after fully examining its news coverage on the development scandal, including columns and other stories that had been written by the senior reporter since 2019. Se

New RAV4 combines best qualities of electric, gas cars for city commuters