South Korean energy and environmental solutions provider SK Ecoplant said Monday that it has secured over $98 million by selling its stake in the American battery recycling firm Ascend Elements, as part of its initiative to restructure its recycling business portfolio. SK Ecoplant had invested over $60.8 million in Ascend Elements since 2022. It sold its entire stake of approximately 9.2 million shares to SKS PE, a Seoul-based private equity firm, according to the company’s regulatory fili

Korean beauty brands Medicube and Aprilskin have officially entered the UK market, South Korean beauty tech company APR announced Monday. The two brands are now available through London-based K-beauty retailer Pureseoul, which operates both online and in physical stores in prime shopping districts such as those of Soho, Westfield and Oxford. Pureseoul, a leading distributor of over 60 Korean beauty brands, is seen as a key partner in helping Medicube and Aprilskin gain a foothold in the UK marke

Korean gaming powerhouse goes to work on streamlining management

An appeals court on Friday cleared Hur Young-in, founder and chair of South Korean bakery giant SPC Group, of tax evasion charges, bringing an end to the year-long legal dispute. The Seoul High Court upheld a lower court ruling that found the SPC chief not guilty of breach of trust. Hur faced allegations of instructing group affiliates Paris Croissant and Shany to sell stocks of Mildawon, another SPC company producing flour, to SPC Samlip at lower prices in December 2012 that, according to prose

HS Hyosung Advanced Materials said Friday that it will present new products from its advanced carbon fiber brand, Tansome, at the Composites and Advanced Materials Expo 2024, the largest composites exhibition in the US, which runs from Monday to Thursday. The exhibition is hosted by the leading composites industry associations, the Society for the Advancement of Material and Process Engineering and the American Composites Manufacturers Association. At the event, HS Hyosung Advanced Materials pla

SK Group Chairman Chey Tae-won meets US Senate delegation in Seoul

Golfzon, Korea's leading screen golf operator, said Wednesday that it launched its new City Golf hybrid indoor course in Tianjin, China. This new platform offers an 18-hole golf experience by merging virtual screen golf with actual greens, under the motto "a premium golf course that can be enjoyed in cities." City Golf allows players to tee up and approach shots on a screen, after which the screen opens to enable play on real greens. Depending on the hole, players can also make ap

South Korean biosimilar giant Celltrion announced Wednesday that Steqeyma, the company's biosimilar referencing Stelara, has been approved in the UK, following earlier approvals by Korea, Canada and the European Commission this year. According to the company, Steqeyma has received approval from the UK's Medicines and Healthcare Products Regulatory Agency for its uses in all indications of reference product Stelara, including psoriatic arthritis, Crohn's disease and ulcerative coli

Posco International, the trading and energy arm of Posco Group, announced Tuesday that it has signed a $40 million contract with Australian mining company Black Rock Mining to secure natural graphite, a key material for secondary batteries. The signing event was held on the sidelines of the joint annual meeting between the Australia-Korea Business Council and the Korea-Australia Business Council in Perth, Australia, Tuesday. The event was attended by Korea’s Trade Minister Cheong In-kyo, A

South Korean e-commerce giant Coupang announced Tuesday that it will recruit more than 10,000 new personnel as part of its initiative to expand logistics facilities across the nation. This decision follows the company's March announcement of its plan to invest over 3 trillion won ($2.23 billion) in expanding its logistics operations, primarily focused on fulfillment centers, to enhance its one-day delivery service nationwide. The new fulfillment centers in Daejeon and Gwangju, expected to b

Innocean, a South Korean marketing communications agency under Hyundai Motor Group, announced Tuesday that it will serve as the main sponsor for the South Korean debut of Joopiter, the digital auction platform founded by global music and fashion icon Pharrell Williams. An exhibition of its latest online auction “Nothing But a ‘G’-Thang: The Art & Archive of G-Dragon” will offer an exclusive look into the personal archives of the K-pop icon G-Dragon’s career, fea

South Korean food and entertainment giant CJ Group said Tuesday that it will host a celebratory event on Wednesday to mark the return of Frieze Seoul, the Korean franchise of the international art fair. This year, Frize Seoul is being held Wednesday to Saturday at Coex in southern Seoul. On the first day, CJ will invite some 400 global cultural figures from home and abroad to a special gathering. Participants include foreign and domestic art professionals such as curators from art galleries and

Hanwha Industrial Solutions officially launched Monday with a founding meeting at The Plaza Hotel in Seoul. The new company, established as a subsidiary of Hanwha Vision and Hanwha Precision Machinery, represents Hanwha Aerospace’s move to consolidate and lead Hanwha Group’s industrial solutions business. During the inaugural meeting, key agenda items included the formal establishment of the company, the appointment of leadership and the enactment of company bylaws. Ahn Soon-Hong,

HD Hyundai officially launched the HeeMang Foundation on Monday, an initiative dedicated to supporting the families of workers who lost their lives in major shipyard accidents. The foundation, whose name means "hope" in Korean, will provide scholarships and financial assistance to bereaved family members, fulfilling a proposal made by HD Hyundai Chairman Kwon Oh-gap (first from left) earlier this February. Former Minister of Employment and Labor Lee Ki-kwon (fourth from left), appointe

LG said Thursday it will buy a combined 500 billion won ($375.9 million) worth of stake in its home appliances and chemical units from November as part of efforts to increase their corporate value. LG plans to purchase 200 billion won worth of shares in LG Electronics and 300 billion won worth of shares in LG Chem on two occasions, the company said in a regulatory filing. If the purchase is completed, LG's stake in LG Electronics will increase to 31.59 percent from 30.47 percent, and inte