KT Corp., a major South Korean mobile carrier, said Tuesday it will cancel 1 trillion won ($726 million) worth of treasury shares by 2028 as part of its efforts to enhance its corporate value. Under the "value-up program," KT will focus on improving profitability and evolving into a comprehensive artificial intelligence and information technology company, the company said in a statement. KT aims to achieve a 9 to 10 percent return on equity by 2028 by restructuring low-growth businesse

Hyundai Engineering & Construction said Tuesday it has signed a design and planning contract with Bulgaria's state energy agency for the new construction of the Kozloduy Nuclear Power Plant in the region, in partnership with US-based builder Westinghouse. The signing took place at the Council of Ministers building in Sofia, Bulgaria, Monday, attended by key officials including Hyundai E&C President Yoon Young-joon, Bulgarian Prime Minister Dimitar Glavchev, Energy Minister Vladimir

South Korean builder Daewoo Engineering & Construction announced Tuesday that Kim Bo-hyun, the current executive vice president, is set to take on the role of CEO at the upcoming board meeting scheduled for December. Kim, born in 1966, is a retired South Korean Air Force brigadier general and former fighter pilot. He joined Daewoo in 2021 as the head of the acquisition team during Jungheung Group’s takeover of the company. After a year as an adviser, he took on the role of executive vi

Hyosung Heavy Industries said Monday it has signed a contract with Denmark's leading offshore wind company, Orsted, to supply high-voltage electrical equipment, further strengthening its presence in the European transformer market. Under this agreement, Hyosung will deliver 400 kilovolts of high-voltage transformers and reactors to Orsted by 2027, which will be used for the Hornsea 4 project, an offshore wind farm planned for 2.4-gigawatt capacity off the coast of Yorkshire in northern Engl

South Korean bakery giant SPC Group said Monday that it has shared its overseas business know-how and advanced baking techniques with a delegation of Mongolian government and business officials during their stay in Seoul. The delegation of some 10 people visited SPC’s premium bakery cafe, Passion5, in Itaewon, central Seoul, on Friday, during which they were given an in-depth overview of SPC’s overseas strategy and expansion plans. The company said it shared essential strategies it a

D.Camp, one of South Korea’s largest startup incubators, held a networking event on Friday to connect international students with internship positions at local startups. The event, hosted at D.Camp’s Front1 facility in Seoul’s Mapo-gu district, brought together representatives from 13 startups and dozens of international students who had applied to these companies in hopes of securing an internship over the winter break. The event is part of a new initiative launched by D.Camp

South Korean bakery giant SPC Group announced Friday that construction of a halal-certified bakery factory in Malaysia is set to be completed by year-end, as it aims to expand the reach of its flagship brand Paris Baguette across Southeast Asia and into the Middle East. Ahead of the plant’s opening in Johor Bahru, SPC Group President Hur Jin-soo met with Johor Chief Minister Onn Hafiz Ghazi in Seoul on Monday to discuss potential collaborations, including local ingredient sourcing and jo

South Korea's state-run oil company said Thursday it has signed an agreement with Kuwait Petroleum Corporation to store 4 million barrels of oil from the Middle Eastern country that can be accessed in case of a global energy crisis, adding to Seoul's efforts to secure a stable supply of energy sources. Under the agreement, the Korea National Oil Corp. (KNOC) will store the barrels in the southeastern industrial city of Ulsan, where they can be supplied domestically when needed. "A

South Korean cosmetics giant Amorepacific said Thursday that its third-quarter operating profits nearly doubled, driven by strong overseas sales and improved operational efficiency in the domestic market. According to a regulatory filing, Amorepacific posted revenue of 1.07 trillion won ($775 million) and an operating profit of 75 billion won in the third quarter of 2024, up 11 percent and 160 percent, respectively, year-over-year. The company attributed this growth largely to its global rebal

Posco International, the trading and energy arm of Posco Group, unveiled its first brand identity Thursday, presenting a new vision under the tagline, “We Find Answers Planet Wide.” The new identity reflects Posco International’s mission to seize the lead across diverse sectors, including steel, energy, food and emerging industries, while contributing to sustainable growth, CEO Lee Kye-in explained at the brand launch event, where he outlined the company’s ambitions for g

HDC Hyundai Development Company, a leading South Korean real estate developer, said Thursday it has recently seen progress in its ongoing efforts for sustainable growth. HDC recently received an “A” rating in environmental, social and governance management from the Korea ESG Standards Institute, the highest rating in the construction sector. This improvement marks a one-grade increase from the previous year. Key advancements in governance included appointing a female outside director

The US burger franchise Five Guys is set to launch its first delivery service in South Korea, enabling more customers to enjoy its menu at their convenience, its Korean operator FG Korea announced Thursday. Starting Friday, the service will be available through one of the nation's biggest food delivery platforms, Coupang Eats, served by two locations in Seoul: Gangnam and Seoul Station. This marks the first time the popular chain has offered delivery in Korea since its launch last year, and

Korean developer commits to new game franchises to give joy to gamers

Korea Ginseng Corp., best known for its JungKwanJang brand, said Wednesday it has launched a new red ginseng-based health functional product lineup for blood sugar management. The products, under the new brand GLPro, include GLPro Core and GLPro Double Cut. Both products incorporate KGC’s proprietary red ginseng ingredient, KGC05pg, which has been officially recognized by the Ministry of Food and Drug Safety for its effectiveness in helping to regulate blood sugar levels. KGC explains that

LG Chem, South Korea’s leading chemicals company, is ramping up its automotive adhesives business as the rising market for electronic components in vehicles is expected to fuel demand. On Wednesday, LG Chem announced it had secured a deal to supply its heat-dissipating adhesives to a US-based electric vehicle company. The client’s name was not immediately disclosed due to confidentiality reasons. The heat-dissipating adhesive is used to bond battery cells within modules and packs. Wi