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S. Korea, Cuba agree to open diplomatic missions
KT launches new mobile plans for foreign residents
[KH Explains] No more 'Michael' at Kakao Games
[Photo News] Shinhan supports families
Samsung chief bolsters ties with Germany’s Zeiss
Woman gets suspended term for injuring boyfriend with knife
Tensions heighten ahead of first president-opposition chief meeting
[Herald Interview] Mistakes turn into blessings in street performance, director says
Woori Financial jumps in race to take over Lotte Insurance
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
Rapper jailed after public street fight with another rapper
Med schools expect 1,500+ new admission slots next year
Seoul to provide housing subsidy to married couples with newborns
Lim Yunchan announces change of program for June recitals
KT&G CEO highlights Indonesia as new global production hub
After bitter defeat, S. Korean soccer coach blames himself, calls for overhaul
Cost of eating up, particularly in Seoul: data
HD Hyundai CEO to co-chair WEF Special Meeting
Nongshim launches dance challenge for new ramyeon products
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Hahn & Co shakes up Namyang Dairy's board to cement control
Companies
Mar 29, 2024
Private equity company Hahn & Co has taken over the boardroom of Namyang Dairy Products to put an end to 60-year family ownership of the dairy firm. During the regular shareholders meeting held at Namyang’s headquarters in southern Seoul on Friday, officials from Hahn & Co were appointed as inside directors, while Lee Myung-Chul, chair of Institut Pasteur Korea, was appointed as an outside director. Previous directors, including Hong Won-sik, chair of Namyang Dairy Products, steppe
Daughter of late Samsung chairman becomes Samsung C&T president
Industry
Mar 29, 2024
Lee Seo-hyun, the second daughter of late Samsung Group Chairman Lee Kun-hee and the younger sister of Samsung Electronics Chairman Lee Jae-yong, is returning to the management as she takes the post of president at Samsung C&T. Samsung C&T, the construction and energy arm of Samsung Group that acts as a holding company for major affiliates of the group, said Friday that it named Lee as the president, who is in charge of the company’s strategy planning. “She is expected to con
More S. Koreans voice dissatisfaction with overseas e-commerce platforms in 2023
Retail
Mar 29, 2024
More South Korean consumers expressed dissatisfaction with their experiences shopping directly via online platform services based overseas last year, partly attributed to Chinese e-commerce platform AliExpress tapping deeper into the Korean market as well as greater demand for overseas travel among Koreans using online travel agency services based in Singapore, according to the Korea Consumer Agency. According to the KCA on Friday, the total number of requests for advice and reports of disputes
Banks rush to cough up misselling compensation
Industry
Mar 29, 2024
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would carry out the compensation procedure, accepting the voluntary-basis plan suggested
Baemin pays out W400b in dividends to Delivery Hero
Industry
Mar 29, 2024
South Korea’s leading food delivery app Baedal Minjok, or Baemin, posted a 65 percent growth in operating profit last year, achieving a significant surplus for the second consecutive year. As a result, its German parent company, Delivery Hero, received some 412.7 billion won ($306 million) in dividends for the first time since acquiring Baemin. Baemin's app operator Woowa Brothers announced Friday that its consolidated sales reached 3.41 trillion won last year, marking a 15.9 percent
[Investor] Korea M&A Exchange secures investment from Japan
Industry
Mar 29, 2024
Korea M&A Exchange, Korea's premier M&A trading platform, has successfully secured a 500 million yen ($3.35 million) investment from Nihon M&A Center, Japan's leading M&A trading platform. A ceremony to mark the agreement between Korea M&A Exchange and Nihon M&A Center was held Thursday at Korea M&A Exchange headquarters in Yeouido, Seoul. As part of the agreement, Nihon M&A Center will acquire approximately 10 percent of Korea M&A Exchange's sh
City Oil Field to export oil coverted from waste plastic to Vietnam
Industry
Mar 29, 2024
South Korean environmental and energy solution provider City Oil Field, said Friday it signed a contract to supply decomposition oil derived from waste plastic to Vietnam’s Nam Anh Joint Stock Company. City Oil Field CEO Jeong Yeong-hun and Nam Anh JSC CEO Van Vien Thong signed the purchase agreement at the Vietnam firm’s headquarters in Ho Chi Minh, Thursday. Under the contract, City Oil Field will supply plastic waste derived oil including naphtha produced from its facilities in So
Hana Financial teams up with Credit Agricole to expand presence in Europe
Industry
Mar 29, 2024
Hana Financial Group, one of South Korea's top four finance conglomerates, has joined hands with Credit Agricole Corporate and Investment Bank to strengthen cooperation in expanding its business in Europe, the firm said Friday. The two entities have signed an agreement to expand cooperation in corporate and investment banking, treasury and trade finance, and financing for environment, social and governance-related initiatives. Hana Financial Group Vice Chair Lee Eun-Hyung, Xavier Musca, the
Dongwon Group heir promoted to chair
Industry
Mar 29, 2024
Dongwon Group Vice Chairman Kim Nam-jung, second son of the group's founder and honorary chairman Kim Jae-chul, was promoted to chairman at the group's board meeting held Thursday. Kim’s promotion fills the position which had been vacant for five years since the retirement of the honorary chairman in 2019. "We will inherit the achievements and management philosophy of honorary chairman Kim Jae-chul, who has led the Dongwon Group for the past 50 years, and discover future g
Samsung opens AI TV experience zone in Singapore Changi Airport
Industry
Mar 29, 2024
Samsung Electronics said Friday it has opened a new TV experience zone in Singapore's Jewel Changi Airport -- the lush entertainment and retail complex connecting Changi Airport's terminals 1, 2 and 3 -- to introduce its latest products. The tech giant will display there its newest products, including the 2024 Neo QLED 8K TV, equipped with a third-generation artificial intelligence 8K processor, and OLED TVs that preserve color accuracy and reduce reflections while maintaining image sh
Hanmi-OCI merger called off
Industry
Mar 28, 2024
The expected merger between OCI Group and Hanmi Group has been called off after a general meeting of shareholders at Hanmi Science, the holding company of Korea's leading drug firm Hanmi Pharmaceutical, on Thursday. The management conflict within the founding family has also temporarily ended as Lim Jong-yoon and Lim Jong-hoon, the first and second sons of founder Lim Sung-ki, secured enough seats on Hanmi Science’s board to stop the merger. "(OCI) humbly accepts shareholders
Korea’s CMO ramp-up lures biotech investors
Industry
Mar 28, 2024
South Korea’s growing biopharmaceutical production capacity is increasingly making the country an attractive investment destination for global life science companies, industry sources said Thursday. Since 2016, global pharmaceutical and biotech firms started building their research and development centers and production facilities in Korea, especially within the Songdo Bio Cluster in Incheon, where the biopharmaceutical production capacity has reached 1.2 million liters, the world’s
Bang Kyung-man named as KT&G's new CEO
Industry
Mar 28, 2024
KT&G's Senior Executive Vice President Bang Kyung-man has cleared the final hurdle to become the company's CEO by winning shareholders approval Thursday, marking the cigarette maker's first leadership change in nine years. The decision was made at the company’s 37th annual general meeting of shareholders, held at KT&G Human Resources Development Center in Daejeon. “I am deeply grateful to the shareholders for entrusting me with the honorable opportunity to serv
First female CEO takes helm at Kakao
Technology
Mar 28, 2024
Korean IT giant Kakao on Thursday appointed Chung Shin-a as its first female, chief while it is facing urgent challenges in revamping its corporate culture and management. The announcement was made as she gained a nod from shareholders during the annual meeting and a separate approval from the board of directors earlier in the day at the company’s headquarters in Jeju Island. After being named as the CEO nominee in December, Chung has served as the head of the company’s innovation ta
Audi Korea names new head, seeks business turnaround
Transport
Mar 28, 2024
With over 27 years of experience in auto industry, Steve Cloete will take wheel starting May 1
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