Korean defense firm LIG Nex1 said Monday that it had acquired a 60 percent stake in Ghost Robotics, a leading US quadruped robot maker, in partnership with Korea Investment Private Equity. LIG Nex1 finalized all investment steps, including approval from the Committee on Foreign Investment in the United States, Friday. The acquisition, valued at approximately 332 billion won ($240 million), secures LIG Nex1 a 60 percent share of Ghost Robotics. Founded in Philadelphia in 2015, Ghost Robotics is k

As the maritime industry navigates towards a greener future, the demand for vessels meeting stringent carbon reduction regulations is increasing in line with the International Maritime Organization's goal of carbon neutrality by 2050. With over 100,000 vessels collectively emitting nearly a billion metric tons of carbon dioxide annually, the call to action is more urgent than ever. In South Korea, Hanwha Ocean, a major shipbuilding and offshore company, is at the forefront of this environme

CEO keeps mum on snowballing liquidity crisis of Tmon, WeMakePrice

New range guidance feature adds fun to EV driving

Having failed to secure earlier edge against smaller rivals, chip giant seeks turnaround in next-generation HBM chips

Herald Corp. to host business forum in Ulaanbaatar next month

HD Hyundai Electric, an energy solution provider under Korean shipbuilding giant HD Hyundai, said Sunday that it has expanded the storage capacity of its manufacturing plant in Alabama to meet growing orders and improve operational efficiency. The expansion adds 12,690 square meters to the existing storage facility, which can house up to 60 power transformers. With the expansion, the plant will elevate production efficiency while reducing external storage and transportation costs. "The new

Samsung Electronics Chairman Lee Jae-yong has embarked on a business trip to Paris to leverage the 2024 Paris Olympics to strengthen ties with key global business partners, political figures and sports leaders, the company said Sunday. Since arriving in Paris last Wednesday, Chairman Lee has engaged in a series of high-level business meetings. This marks his first attendance at the Olympics since the 2012 London Games. His agenda includes discussions with leaders from the semiconductor, IT and a

Daewoo Engineering & Construction is expanding its eco-friendly technology portfolio amid growing calls for green energy solutions to tackle the climate crisis. One of the builder's notable innovations is greenhouse gas reduction technology, called DECO2, a proprietary continuous process for capturing and recycling carbon dioxide, first developed in 2012. This technology captures carbon dioxide and repurposes it into raw materials. By-products from this process can be used immediately a

SK hynix, the world's second-largest memory chip maker, said it has decided to invest about 9.4 trillion won ($6.77 billion) in building the first manufacturing plant and business facilities of the Yongin Semiconductor Cluster in a board meeting on Friday. The chipmaker plans to start construction of the first fab in the Yongin cluster in March next year, and complete it in May 2027. The envisioned manufacturing plant will produce next-generation DRAM, including High Bandwidth Memory, a rep

Shinhan targets 10 percent return on equity, 50 percent shareholder return and 50 million fewer shares by 2027

Kia logged another record profit in the second quarter on Friday, driven by an enhanced product mix, higher average selling price and favorable exchange rates. During the April-June period, Kia achieved two new records -- 3.64 trillion won ($2.63 billion) in operating profit and a 13.2 percent operating profit margin -- in second-quarter earnings, continuing to break records for two straight quarters. The automaker’s quarterly operating profit increased by 7.1 percent in comparison to the

After a four-year legal battle, Hana Financial Group Chairman Ham Young-joo has escaped regulatory punishment imposed for internal control failure involving the misselling of derivatives-linked funds. On Thursday, the Supreme Court upheld the appellate court's decision to cancel the major disciplinary action taken by financial authorities on Ham over the losses from the overseas interest rate-linked derivative fund incident in 2019. The top court confirmed the lower court’s ruling, wh

Tmon, an online marketplace platform owned by Singapore-based e-commerce company Qoo10, on Friday, started issuing refunds to customers who did not receive their products purchased on the platform hit by a liquidity crisis. This move comes a day after the CEO of WeMakePrice, another affiliate of Qoo10, offered an apology and began issuing refunds as hundreds of consumers visited the headquarters of the online marketplace platform. Tmon and WeMakePrice, which were acquired by Qoo10 in 2022 and 20

Posco Group announced Friday that it donated 30,000 uniforms that no longer serve its employees to be upcycled for communities in the Philippines affected by disasters. After introducing new uniforms in February, Posco sought ways to utilize the former ones. This latest effort brings their total number of donated uniforms to 100,000, following previous donations to vulnerable groups in Mongolia and Madagascar. The company collaborated with non-governmental organizations active in international r