Instant noodles gets boost on the back of the pandemic and ‘Ram-don’ phenomenon

With Dream Gream 2.0, official dealer of Mercedes-Benz aims to expand social outreach, support more students with artistic dreams

Samsung Electronics Co. said Wednesday its new premium vacuum cleaner will go on sale in South Korea next month as the tech giant targets to boost home appliance goods amid the pandemic-induced stay-at-home trend. The BESPOKE Jet, featuring an automatic dust emptying system in a battery charging station, will be sold at between 890,000 won ($780) and 1.39 million won here starting in April, according to Samsung. The new cordless stick vacuum cleaner comes in four colors -- midnight blue, woo

South Korea's antitrust regulator said Wednesday it has decided to fine four auto parts producers a combined 82.4 billion won ($72.7 million) for colluding to fix bidding prices of vehicle parts. Hwaseung R&A and three other companies colluded to fix their quotations between 2007 and 2018 for 99 rounds of auto parts purchasing bidding by the country's top automaker Hyundai Motor Co. and its affiliate Kia Corp., according to the Korea Fair Trade Commission (KFTC). The commission ordered the

Global shipbuilding giant Hyundai Heavy Industries Holdings Co. (HHIH) said Wednesday that it has signed an initial deal with Korea Investment Corp. (KIC), South Korea's sovereign wealth fund, toward merger and acquisitions with global companies as part of efforts to expand its presence in new businesses. Under the deal, HHIH and KIC will jointly invest 1 trillion won ($900 million) to push for the mergers and acquisitions of global companies in the areas of AI, robots, remote autonomous ships

KT&G Corp., South Korea's dominant tobacco company, said Wednesday it is aiming to earn half of its revenue from overseas by 2025 as it seeks to open more overseas subsidiaries and explore new markets. Currently, KT&G earns 40 percent of its tobacco sales from exports. The company operates sales subsidiaries in five countries -- Russia, Indonesia, Turkey, Taiwan and the United States. For the whole of 2020, its sales rose 6.8 percent to a record 5.3 trillion won ($4.68 billion) from 4

KT Corp., a major South Korean mobile carrier, said Wednesday it has signed a memorandum of understanding with pollster Gallup Korea to introduce the telecom company's artificial intelligence (AI) technology in opinion polls. Under the agreement, KT will apply its voice bot and AI call center technology in opinion polls conducted by Gallup Korea, according to a statement from the telecom operator. KT's AI call center solution incorporates speech recognition as well as personalized text-to-spee

Shareholders of LG Electronics Inc. on Wednesday approved the company's plan to split off some of its electric vehicle (EV) components business to set up a joint venture (JV) with Canadian auto parts maker Magna International Inc. The shareholders passed LG's proposal to carve out the EV powertrain business from its vehicle component solutions (VS) division to establish a new company with Magna. LG will hold a 51 percent stake in the newly created firm, tentatively named LG Magna e-Powertrai

Samsung Electronics Co. on Wednesday said it will offer a drone delivery service to its Galaxy device buyers in Ireland under a partnership with Irish drone startup Manna. The service will be first available to customers in Oranmore, some 200 kilometers west of Dublin, but the two sides said they plan to expand the drone service nationwide in the future. "The new service, which is a first for Samsung globally, will facilitate an end-to-end contactless experience for Samsung customers from

LG Electronics Inc. said Wednesday it will supply a commercial energy storage system (ESS) in Hawaii as the South Korean tech giant eyes to expand overseas sales of efficient power management solutions. A consortium of South Korean and United States entities, including LG, the University of Hawaii and the Korea Institute of Energy Technology Evaluation and Planning, recently inked a deal with the state government of Hawaii to develop and build an advanced microgrid using renewable energy, accor

　The number of big-name retailers’ beauty stores in South Korea declined for the first time in 2020, as more customers turned to online shopping amid the coronavirus pandemic, data showed. 　The country’s three major health and beauty chains - Olive Young, Lalavla and LOHB’s - had a combined 1,484 outlets across the nation as of end-December last year, down 31 from a year earlier, according to data posted on the electronic disclosure system of the Financial Supervisory Serv

Kia Corp.'s new large sedan, the K8, received a strong response from the domestic market, with first-day preorders setting a record high among its sedan models, the nation's No. 2 carmaker said Wednesday. Kia started receiving orders for the K8, a direct follow-up to the K7, known as the Cadenza in the United States, on Monday ahead of the model's domestic launch slated for early April. Preorders for the K8 reached 18,015 units on the first day, outpacing the K5's preorders of 7,003 units in N

South Korean low-cost carriers (LCCs) are struggling with high indebtedness stemming from huge deficits due to the coronavirus pandemic, data showed Wednesday. The debt-to-equity ratio of three major LCCs -- Jeju Air Co., Jin Air Co. and T'way Air Co. -- ranged from 430 percent to 517 percent as of the end of 2020, according to their business reports. A key barometer of financial soundness, the ratio is calculated by dividing a company's total liabilities by its stockholders' equity. Jeju Air

Samsung Electronics Co. maintained the status as the world's second-largest vendor of mobile image sensors last year, a report showed Wednesday, as the South Korean tech giant strives to catch up to the industry leader Sony Corp. In terms of revenue, Samsung, which produces image sensors under the ISOCELL brand, had a share of 29 percent in the complementary metal oxide semiconductor (CMOS) image sensor market in 2020, according to market researcher Strategy Analytics. Samsung, also the world'

South Korea said Wednesday it plans to spend 1.1 trillion won ($974 million) by 2027 to speed up the development of Level 4 self-driving vehicles and boost related technologies. At Level 4, one stage before full autonomy, the vehicle can drive itself under limited conditions and does not require human intervention. Under the plan, South Korea will support 84 projects to develop vehicle convergence, information and communication and road traffic technologies, as well as self-driving services an