Concerns surrounding the semiconductor industry have led to a nearly 120 trillion won ($90 billion) decline in the market capitalization of South Korea's two leading makers of memory chips, Samsung Electronics and SK hynix, over the past month, according to data released on Sunday. According to the Korea Exchange, the country's sole bourse operator, the two companies’ market value has shrunk by a total of 117.18 trillion won despite market watchers’ evaluations that the dec

LG Uplus, South Korea’s telecom carrier, hosts a pop-up event for Apple’s latest iPhone 16 at its six-story flagship store in Gangnam, southern Seoul. The event, continuing to Sept. 29, allows visitors to try the iPhone 16 and other Apple products. Social media influencers are also able to unbox their new iPhones and preview LG’s upcoming AI-driven call recording service, ixi-O, which is expected to offer features like call recording and content summarization when it launches n

Hyundai Motor Group's Executive Chairman Chung Euisun visited the company’s Czech manufacturing plant last Thursday to assess Hyundai’s European operations as part of a state trip with South Korean President Yoon Seok Yeol. During the trip, Hyundai Motor Group also signed several memorandums of understanding with Czech companies and universities to collaborate on future mobility initiatives, including hydrogen energy and advanced automotive technologies. This was part of a large

HD Hyundai Marine Solution, the ship maintenance unit of HD Hyundai, said Sunday that it has signed a contract with a Middle Eastern shipping company to supply shaft generator systems worth $37 million for 17 LNG carriers. The systems will be delivered sequentially until 2028. The shaft generator system generates electricity by utilizing part of the rotational power from the ship’s main engine. Compared to medium-sized engines traditionally used as power sources, the main engines used fo

With neighbor disputes escalating in Korea's fire-wary apartments, smart EV chargers are a proposed fix, but compatibility issues remain a challenge

A total of 122 flights have been disrupted due to illegal drone activities over the past four years, data showed Thursday, prompting calls for stricter measures and penalties. From September 2020 to August 2024, a total of 506 cases of unauthorized drone activities were detected in the airspace around airports, and 122 cases affected flight operations, according to data from the Incheon International Airport Corporation and Korea Airports Corporation, submitted to Rep. Ahn Tae-jun of the main op

Hyundai Motor Group has renewed its commitment to the hydrogen fuel cell vehicles industry in the Czech Republic, a booming market for the clean mobility sector. Ken Ramirez, vice president of global commercial vehicle and hydrogen Business division at Hyundai Motor Group, and Skoda Electric CEO Jaromir Silhanek participated in the signing ceremony held in Prague on Friday to join forces in hydrogen-powered mobility. The partnership agreement comes during South Korean President Yoon Suk Yeol&rsq

The envisioned takeover of Korea Zinc would wreak havoc on its business in Australia because the demands on private equity firms like prospective buyer MBK Partners are incompatible with the long-term requirements of the industry, according to the chief of Ark Energy, Korea Zinc's Australian renewable energy subsidiary. MBK Partners, a big-name private equity house based in Seoul, recently joined hands with Young Poong to win control of Korea Zinc, the world's largest zinc smelter. Y

South Korean pharmaceutical giant Yuhan announced Friday it has terminated its collaboration with Janssen Biotech on the development of a next-generation targeted anticancer drug, citing the strong efficacy of its existing treatment, which has reduced the need for further development. According to the company’s regulatory filing, Yuhan and Janssen have amended their research partnership to discontinue the further development of a fourth-generation epidermal growth factor receptor (EGFR) ty

Leading Korean shipbuilding and offshore company Hanwha Ocean unveiled its next-generation zero-emission liquefied natural gas carrier, Ocean 1, at Gastech 2024 in a move to spearhead sustainable maritime innovation. The company announced Friday that Ocean 1 was showcased at the conference held in Houston from Sept. 17-20, where it attracted the interest of over 100 major shipbuilding and shipping line representatives. This marks the first time Hanwha has revealed the technologies behind its vis

Porsche Korea announced on Friday the appointment of Mathias Busse as its new Chief Executive Officer and Representative Director. Busse, currently serving as Senior Director for the German market at Volkswagen Commercial Vehicles, will succeed Holger Gerrmann, who has led the company since 2019. Busse brings over 25 years of experience in the automotive industry, having held key leadership roles such as CEO of Porsche Taiwan Motors and Porsche Retail Hamburg GmbH. “We are grateful to have

Chinese brands aggressively closing gap with Samsung, Apple

South Korea’s defense firm LIG Nex1 said Friday it has signed a 3.7 trillion won ($2.78 billion) deal with Iraq’s defense ministry to export its medium-range surface-to-air missile defense system Cheongung-II. This is the third export contract worth over 1 trillion won that LIG Nex1 has clinched, following those with the United Arab Emirates and Saudi Arabia. Cheongung-II includes four launch vehicles with eight tubes, multi-function radar and traffic management command. It will be p

Vegetable prices in South Korea have surged amid an unprecedented heat wave that has gripped the country for weeks, with the price of napa cabbage rising nearly 70 percent compared to last year. The price of a head of cabbage, the main ingredient for kimchi, retailed at 9,337 won ($7.02) on Thursday, according to the Korea Agro-Fisheries & Food Trade Corp. This marks a 69.5 percent jump compared to the same time last year and a 32.7 percent increase over the three-year average price. Continu

Auto conglomerate does not intend to control mobile carrier’s management: ministry