Kim Dong-sun, the youngest heir of Hanwha Group and vice president of Hanwha Galleria, has initiated a public tender offer to increase his control over the retail subsidiary. According to a regulatory filing released Friday, Kim has offered to purchase 34 million shares, representing 17.54 percent of Hanwha Galleria, from Aug. 25 to Sept. 11. The offer price is set at 1,600 won ($1.19) per share, a 23 percent premium over the previous day's closing price of 1,303 won. The filing noted that

Former US ambassador to S. Korea, now Hyundai Motor adviser, recognized for decadeslong diplomatic service in Asia

Seomjae, a Seoul-based education solutions developer, announced Thursday that the company applied for three patents for its AI-based learning system earlier this month. One of the patents is an AI technology that automatically analyzes and summarizes online lectures and captures lecturers’ characteristics using a neural network system. The technology can offer personalized data to its users by systematically summarizing lecture content and carrying out an in-depth analysis of the lecturers

Korea aims to outpace Singapore in building most extensive FTA network

Samsung Electronics said it is confident in maintaining its No. 1 position in the global TV market by widening the gap with Chinese rivals with its advanced artificial intelligence technology. “We believe that AI TVs will be a unique differentiator that other companies do not offer, as it is not just a TV but a platform that can connect various devices customers own,” Yong Seok-woo, president and head of visual display business at Samsung Electronics, said during a press conference i

SK Group Chairman Chey Tae-won stressed the importance of adapting business strategies to the evolving AI ecosystem at the closing session of Icheon Forum 2024, SK Group's annual strategy meeting of top executives, which ended Wednesday. "Artificial intelligence presents us with numerous opportunities," Chey said. "Leveraging this trend effectively and embracing change swiftly will be crucial for thriving in the AI ecosystem." The chairman emphasized that while adapting

A Seoul court on Thursday ordered SK Group Chairman Chey Tae-won and his live-in partner to pay 2 billion won ($1.50 million) in alimony to his estranged wife and the director of Art Center Nabi, Roh Soh-yeong. The Seoul Family Court ordered in a lawsuit seeking damage, filed by Roh against Chey’s partner Kim Hee-young, who is serving as the chair of T&C Foundation, that the defendant should jointly pay 2 billion won to the plaintiff along with the SK chief. “Based on the submitt

Chair stresses need for human-centric leadership, eagerness to learn new skills

Korean home appliance-maker Coway has retained its No. 1 position in the nation’s water purifier market for almost three decades with its unrivaled filter technology. “Since the very beginning of our water purifier business, we have put intensive effort into enhancing the quality of water filters, one of the key components. Unlike most competitors, we can produce the products' main water filters on our own,” said a company official. With constant efforts to enhance the qua

Hyundai Motor’s newest subcompact EV boasts driving range of 315 km

Porsche Korea launched the new Taycan on Thursday, the brand’s upgraded all-electric sports sedan, as the German sports car-maker aims to keep building on the success of the EV here. “Since (the Taycan’s) launch in 2020, the demand for (our) first fully electric sports car has exceeded our expectations,” said Holger Gerrmann, CEO of Porsche Korea, during the launch ceremony at Grand Hyatt Seoul. “Last year, the Taycan accounted for a 16 percent share of sales as the

Amid one of South Korea’s hottest summers on record, Hyundai Motor Group hosted the Heat Tech Day event on Thursday in Seoul to preview three advanced climate control technologies to improve passenger comfort in both scorching summers and harsh winters. The three technologies introduced at the event include a nano-cooling film that significantly lowers cabin temperatures during the summer, a radiant heating system that quickly warms passengers in winter and a metal-coated heated glass that

LG Chem is leading the nation's growth hormone market with its award-winning mobile app, EuDi. According to the company, EuDi won the iF Design Award 2024 in the user experience category in March. It was the only pharmaceutical company to win the honor among 521 winners since 2021, in an arena traditionally dominated by consumer electronics, telecoms and automotive sectors. Launched in 2019, the EuDi app was designed to streamline daily injections for children and their caregivers. The app

Korea's two top display makers Samsung Display and LG Display have won Display of the Year awards at the International Meeting on Information Display conference that kicked off on Jeju Island Wednesday. Having introduced the world’s first stretchable OLED display in 2017, Samsung unveiled another stretchable panel using the micro-LED technology that boasts the highest resolution and elongation rate among the stretchable products on the market. According to the display maker, the lates

State-run funds indirectly bet on crypto growth through shares