Hyundai Card clinches first AI software export deal among Korean finance companies

Hana Financial Group said Tuesday that it is ramping up efforts to offer more tailor-made services for senior customers under the new brand name Hana The Next. The new launch, a collaboration of its key affiliates including Hana Bank, Hana Securities and Hana Insurance, will cover both financial and non-financial areas from retirement planning to consultations on inheritance and gift taxes to health care. The first customer is TV celebrity Kang Ho-dong, who has also been named as the brand ambas

Hyundai Engineering & Construction said Tuesday that it has signed a memorandum of understanding with the government of South Australia at the company's headquarters in Jongno-gu, central Seoul. Hyundai E&C and the South Australian government will jointly carry out projects related to renewable energy, infrastructure and housing development. The agreement comes as South Australian government officials and company leaders visited Korea to promote cooperation on infrastructure for net

SK hynix CEO Kwak Noh-jung recently traveled to Europe to explore future chip technologies, meeting with key officials of the Interuniversity Micro Electronics Center, according to industry sources Monday. During his visit to the IMEC, headquartered in Leuven, Belgium, Kwak met with his counterpart Luc Van den Hove and Max Mirgoli, executive vice president in charge of worldwide strategic partnerships, at IMEC, among others. “It is fantastic when partnerships are based on friendship and tr

LG Group Chairman Koo Kwang-mo will reportedly receive business reports from major affiliates sequentially over the next month, starting with the electronic affiliates on Monday to establish next year’s business plans, according to industry sources, Monday. LG holds strategic meetings in the first half of each year to discuss future strategies. Business meetings in the second half focus on business performance and plans for the following year, with an emphasis on enhancing customer value a

Emily Cho carries on father’s legacy to spur organic growth at Hanjin Logistics

Aiming to reinforce its reputation as the “Silicon Valley of the East,” Fairfax County, located near Washington, DC in the US state of Virginia, is seeking to bring in more Korean tech firms specializing in emerging technologies such as quantum computing, artificial intelligence and aerospace, David Kelley, the vice president of the Fairfax County Economic Development Authority, said. "Fairfax County likes to pride itself on innovation, and especially innovation around emerging

SK Telecom said Monday it will launch Samsung Electronics' Galaxy Z Fold Special Edition, the tech giant's new thinnest foldable smartphone, on Friday. The new phone is 4.9 millimeters thick and the main display can be expanded to 8 inches, providing a more immersive viewing experience. The Korean price is at 2.78 million won ($2,039), with global sales starting as early as later this month. (SK Telecom)

The number of pilots newly hired by South Korean air carriers rose 8 percent on-year through August, data showed Sunday, driven by post-pandemic travel demand. The 11 air carriers hired 537 new pilots over the January-August period, compared with 498 in the same period a year earlier, according to Rep. Lee Yeon-hee of the main opposition Democratic Party, who cited data from the transport ministry. The figure marks a significant increase from the annual average of 135 recorded between 2020 and 2

Bank Mellat faces mounting pressure in Seoul as Washington-Tehran tensions could potentially escalate

Indonesia’s new regulation mandating Halal certification for all imported food products is expected to widen the export gap between large conglomerates and small businesses in Korea due to the high costs and time need to meet the requirements. After a five-year grace period, the Indonesian government has officially ordered businesses in most industries to be halal compliant and halal certified, starting Thursday. While products lacking halal certification can still be exported, they must b

Samsung Electronics’ chip division is likely to be dethroned by TSMC, the world's largest foundry company that manufactures Nvidia chips, in terms of the latest quarterly sales, according to industry sources on Sunday. Samsung’s third-quarter sales are estimated to reach a record high of 79 trillion won ($57.7 billion), up 17.2 percent from a year ago. Although the Korean tech giant has not released detailed reports on the performance of its key business units for the quarter ea

KB Kookmin Bank said on Sunday that services will begin on Monday at its new branches in Chennai and Pune as the Korean bank seeks to expand its footing in the Indian market. Chennai, the largest city in southern India, serves as a major commercial and manufacturing hub, while Pune, in India’s western coastal region, is an emerging center for cutting-edge industries such as information technology and biotechnology. Including its Gurugram branch, which opened in 2019, KB Kookmin Bank now ha

South Korea's internet-only K bank will postpone its stock market debut to next year, due to insufficient demand. On Friday, K bank announced it is pushing back its initial public offering, which was originally scheduled for Oct. 30, to early next year. The bank also disclosed that it has filed to withdraw its securities registration with the Financial Services Commission. K bank stated in its disclosure, "The company has decided to withdraw this public offering, with the results of the rec

The ongoing power struggle at Korea Zinc, the world's largest zinc smelter, looks to be taking an unexpected turn, as the CEO of Trafigura, one of Korea Zinc's key partners and strategic investors, prepares to visit Seoul next month. According to local investment industry sources on Friday, Trafigura CEO Jeremy Weir, accompanied by his successor Richard Holtum -- who will assume the CEO role in January 2025 -- will meet with Korea Zinc Chairman Choi Yun-beom during the visit. Korea Zinc has conf