New EV equipped with automaker’s first pedal misapplication safety assist

The Asiana Airlines' Pilots Union has requested that the European Commission investigate the suitability of Air Incheon as a potential buyer of Asiana Airlines' cargo business, the union announced Tuesday. The move follows Korean Air's selection of Air Incheon as the preferred bidder for the sale of Asiana Airlines' global cargo freighter business on June 17, as part of its yearslong quest to formally acquire Asiana Airlines. The union said Tuesday that it had asked the EU�

South Korean chip giant SK hynix Inc. said Tuesday it is set to receive up to $450 million in grants from the US government for its investment to build a production base for advanced semiconductor packaging in Indiana. In April, the company announced a plan to invest $3.87 billion to build a memory packaging plant for artificial intelligence (AI) products and an advanced packaging research and development (R&D) facility in West Lafayette of the U.S. state to produce next-generation memory ch

Samsung Electronics, the world’s largest memory chip maker by revenue, announced Tuesday it has begun the mass production of the industry’s thinnest 12-nanometer LPDDR5X DRAM chip that helps better thermal control within mobile devices. The ultraslim DRAM chip, which comes in storage with 12- and 16-gigabytes, would create additional space within mobile devices to facilitate better airflow. This supports easier thermal control, which has become increasingly important, especially for

By Lee Young-suk Head of sustainability management, SK Inc. The ongoing global liquidity tightening, high interest rates causing economic recession and geopolitical tensions are increasing uncertainties in business management. As a result, governments and companies worldwide are relentlessly focusing their resources on reviewing policies and strategies to overcome crises. At this point, as we navigate through significant challenges, I would like to revisit the essence of “sustainabil

Korea Ginseng Corp., the leading manufacturer of ginseng products in the country, said Tuesday it has signed agreements with Japanese retail giants Welcia and Aeon Mall to introduce its red ginseng brand, JungKwanJang, in their stores. This initiative aims to enhance the presence of JungKwanJang in the Japanese market by entering the largest drugstore chain and the leading comprehensive shopping mall company, the firm said. Welcia is the largest drugstore chain in Japan, boasting over 2,000 offl

Volkswagen Group Korea on Tuesday launched the new Touareg, the first release from the German automaker in the local market in about two years, as the German automaker looks to bolster its presence here. “The Touareg has established a unique position, offering exceptional product value at a reasonable price,” said Till Scheer, CEO of Volkswagen Group Korea, during the launch ceremony of the new sport utility vehicle at Grand Hyatt Seoul. “It is an unmatched powerful premium SUV

Liquidity worth 500 billion won to be funneled to cushion vendors of Tmon, WeMakePrice soon, officials say

South Korean e-commerce giant Coupang announced Tuesday that it has started offering products from the global premium skincare brand SK-II through Rocket Luxury, the company's one-day delivery service dedicated to premium beauty products. “We are excited to offer a greater variety of luxury skincare brands popular with customers through the inclusion of SK-II,” a Coupang official said. “We will continue to introduce global premium brands that meet the needs of our customer

Thai financial giant dismisses impact of Kakao founder's indictment in pursuing digital banking partnership with Korean lender

Krafton, the South Korean game developer behind PUBG: Battlegrounds, said Tuesday it had appointed Oh Jin-ho, a seasoned executive with experience at Riot Games and Blizzard Entertainment, as its new chief global publishing officer. Oh's extensive background includes major roles such as general manager of Riot Games and president of Blizzard Entertainment Korea and Southeast Asia, where he was instrumental in localizing and launching blockbuster games like World of Warcraft and StarCraft. O

Samsung Biologics announced Tuesday that it became Korea's first domestic contract development and manufacturing organization to join the US-based Pharmaceutical Supply Chain Initiative. PSCI, a non-profit organization established in 2013, aims to promote sustainable supply chains in the biopharmaceutical sector. Its members include some 80 biopharmaceutical companies worldwide such as Johnson & Johnson, Pfizer, Novartis and AstraZeneca. To become a member of PSCI, companies must underg

South Korean drug maker Daewoong Pharmaceutical said Tuesday that it launched its gastroesophageal reflux disease, or GERD, treatment Fexuclue in Mexico, Ecuador and Chile. According to pharmaceutical market research firm IQVIA, the market for antiulcer drugs in these three countries was valued at $300 million last year. Fexuclue, a potassium-competitive acid blocker developed independently by Daewoong Pharmaceutical over 13 years beginning in 2008, was introduced to the market in July 2022. The

SK Group Chairman Chey Tae-won is expected to contest a court's recognition of former President Roh Tae-woo's slush fund as seed money for the conglomerate in his divorce suit against Roh's daughter, sources said Tuesday. In May, the Seoul High Court ordered Chey to pay 1.38 trillion won ($1 billion) in property division to Roh Soh-yeong in the country's most expensive divorce suit in history. The court recognized that a purported slush fund of 30 billion won from the former

NCSoft, a major South Korean game developer, said Monday its operating profit decreased 75 percent from a year earlier on sluggish sales. Operating profit for the April-June period came to 8.8 billion won ($6.4 million), compared with 35.3 billion won a year ago, and sales fell 16.2 percent on-year to 368.9 billion won, the company said in a regulatory filing. Net profit for the period, however, jumped 132.8 percent on-year to 71.1 billion won thanks to favorable currency exchange rates, accordi