Taihan Cable suspected of stealing cable technologies from LS as police raid office

Hyundai Motor Company's labor and management have concluded their wage negotiations without a strike for the sixth year in a row, agreeing on the highest wage increase in the company's history. The union said Saturday its members have voted to accept a tentative wage deal reached earlier in the week. Under the agreement, Hyundai will increase workers' basic monthly pay by 4.65 percent, or 111,200 won ($81), and give a one-off performance-based bonus equivalent to 500 percent of

South Korean e-commerce giant Coupang said Friday it is not considering acquiring a part of Homeplus, a supermarket chain grappling with poor performance in recent years. The announcement was made in response to local media reports suggesting that Coupang plans to acquire Homeplus Express from MBK Partners, the private equity fund that owns Homeplus. Homeplus' supermarket business comes in two types: Homeplus, a large discount store, and Homeplus Express, a smaller hypermarket. Homeplus o

Doosan Bobcat to be entirely owned by Doosan Robotics, delisted eventually

Starbucks Korea said Thursday it has partnered with the country’s heritage service organizations to intensify its contribution to cultural preservation efforts. Starbucks Korea, the Korea Heritage Service and the National Trust for Cultural Heritage agreed to establish a national heritage protection fund during a ceremony held at the Starbucks Hwangudan branch in Seoul on Thursday. The event was attended by Starbucks Korea CEO Sohn Jeong-hyun, Korea Heritage Service Administrator Choi Eung

Korean shipbuilder looks to build trust with US Navy to expand business

McDonald's Korea has introduced new items under its "Taste of Korea" lineup -- including a cheeseburger and a chicken muffin featuring locally sourced peppers -- highlighting its commitment to collaborating with rural areas across the country. In its fourth edition since 2021, this year’s Taste of Korea lineup focuses on peppers produced in Jinju, South Gyeongsang Province, in the Jinju Pepper Cream Cheese Burger and Jinju Pepper Cream Cheese Muffin. “McDonald’s

Korean tank-maker aims to complete delivery of 180 K2 tanks by end of next year

Korean cable manufacturer expected to secure $147m in government incentives with new facility

Korean defense firm to deliver 54 units of K9 howitzer, 36 units of K10 ammunition resupply vehicle from 2027

Hyundai Motor Group and the University of Oxford in the UK have established a joint Foresight Center to explore the former's long-term strategies and visions together, the Korean auto conglomerate said Tuesday. "The automotive industry is undergoing a paradigm shift and significant changes in business environments, leading to unprecedented uncertainty," said Kim Gyun, head of Hyundai Motor Group Business Intelligence Institute. "In such times, it is crucial for companies to m

HD Korea Shipbuilding & Offshore Engineering said Tuesday that it developed an artificial intelligence translation technology to support foreign workers. According to the company, the service named AI Agent was developed using generative AI technology and has been implemented at the HD Hyundai Samho shipyard in Yeongam, South Jeolla Province. Combined with the shipbuilder's self-developed messaging app Team Up, the AI Agent translates the messages originally written in Korean to a langu

Unionized workers of Samsung Electronics launched their first-ever strike Monday, demanding higher pay and warning of potential further action if the country's largest conglomerate does not meet their demands. The National Samsung Electronics Union, the biggest labor union of the conglomerate with over 30,000 members, making up some 25 percent of the workforce, said it kicked off the three-day strike starting with a rally at 11:00 a.m. in front of the main entrance of the company's pla

South Korea's lobbying spending ranks No. 3 in US

Korean e-commerce giant Coupang said Monday it will raise its membership fee for existing members from 4,990 won ($3.60) to 7,890 won starting Aug. 7, prompting mixed expectations about the impact of the fee hike. This move follows Coupang’s decision to increase its membership fees for new members to the same price of 7,890 won starting on April 13. Coupang counted approximately 14 million members as of last year, more than double the 6 million in 2020 when it launched the membership servi