South Korean e-commerce giant Coupang is in trouble, as the nation’s antitrust watchdog has flagged the company for allegedly promoting its own private label products -- particularly those eligible for its signature Rocket Delivery service -- on its platform’s algorithm-driven ranking system. On Thursday, the Korea Fair Trade Commission issued a fine of 140 billion won ($102 million) along with prosecution against Coupang, arguing that the company engaged in "consumer deception&

The Danish government has recalled three types of spicy ramyeon Buldak products made by the Korean manufacturer Samyang Roundsquare simply because they are too spicy. On Tuesday, the Danish Veterinary and Food Administration, under the Ministry of Food, Agriculture and Fisheries, ordered a recall of three types of Buldak Spicy Noodles, citing a risk of acute poisoning due to high levels of capsaicin in the products. The food safety agency stated, “The total levels of capsaicin in a single

Hyosung Heavy Industries announced Wednesday its plans to expand its ultra-high voltage transformer factories in the US and Korea to meet increasing global demand for electricity infrastructure. The company will add a test line and expand the existing testing and production facilities at its ultra-high voltage transformer plant in Memphis, Tennessee. This expansion is expected to double the production capacity of the plant. Simultaneously, the Changwon plant in South Gyeongsang Province, which i

South Korean energy and environmental solutions provider SK Ecoplant said Tuesday that it is ramping up efforts to seek a bigger footing in Vietnam’s solar panel market with a recent solar panel installation within an industrial complex. The company held a ceremony on Monday to celebrate the completion of a solar panel rooftop for a plant owned by Samil Vina, a Vietnam-based textile exporter located in Dong Nai province. All energy generated from the 1-megawatt solar power plant will be us

Hyundai Mobis, the parts and service arm of Hyundai Motor Group, said Tuesday it has showcased M.VICS 5.0, the new addition to the company’s in-vehicle digital cockpit series, as part of its efforts to lead the global competition in electrified vehicle parts technology development. First launched in 2021, the M.VICS series is an infotainment system installed in front of the driver and passenger seats, providing various driving information and media content while enabling external communica

Korean refiner S-Oil displays a refreshed billboard at its headquarters in Mapo-gu, western Seoul, on Tuesday with "Diary of a Grass Leaf" by Korean poet Han Sang-soon. It reads: "Sunshine, you make me sparkle in shades of green." Set against a backdrop of a lush, sunlit forest, the display is designed to convey a refreshing feeling of summer. This update continues S-Oil’s tradition since 2016 of integrating cultural elements into its corporate environment to inspire em

Buoyed by mega success of Battlegrounds Mobile India, Korean gaming giant looks to diversify business portfolio

Monalisa Co., a major South Korean toilet paper company, said Tuesday it has been sold to Indonesian paper-manufacturing company Arch Peninsula SDN.BHD. NHPEA Tissue Holdings AB, the largest shareholder of MSS Holdings Co. which has Monalisa as a major affiliate, signed an agreement Saturday to sell its entire stake in MSS to the Indonesian firm, Monalisa said in a regulatory filing. The share purchase agreement will be finalized when the seller and the buyer satisfy each other's precedin

HD Hyundai has partnered with global leaders in the maritime classification and registration sectors to develop a new structure for ships by removing blind spots on vessels, the Korean shipbuilding conglomerate said Tuesday. For the development of AI technology, HD Hyundai signed a memorandum of understanding with the American Bureau of Shipping and the Liberian Registry at Posidonia 2024, one of the world’s largest shipping exhibitions, held in Athens, Greece this week. About 2,000 compan

Kakao Mobility, the operator of Korea's leading taxi-hailing service Kakao T, said Tuesday that it has introduced a new application for foreign visitors called "K.ride" to make their mobility in Korea more convenient. Previously, only those with a Kakao Talk account, the most popular messaging app in Korea, could access Kakao T. However, now users can easily create an account using their Google or Apple accounts and phone numbers via K.ride. Payments can also be made with credit o

LG Chem said on Friday that it has secured a 20-year deal to purchase clean electricity from two wind farms in South Korea, as part of its efforts to reduce carbon emissions and achieve net zero by 2050. Facilitated by the state-run utility Korea Electric Power Corporation, LG Chem formed a power purchase agreement with ST International, an energy trading company, and Shinhan Asset Management, the owners of the two wind farms, with a combined capacity of 241 megawatts, located in Yeongdeok and Y

South Korean steel giant Posco Group said Friday that it held a ground-breaking ceremony for its new plants dedicated to nickel and precursor production, as part of efforts to secure a stable supply chain for secondary battery materials. For this project, Posco partnered with CNGR, a Chinese company renowned for its global leadership in precursor production. In January, Posco Holdings and CNGR established Posco CNGR Nickel Solution, their 60:40 joint venture specializing in nickel refining. Addi

Hanwha Ocean has bolstered its partnerships with Canadian companies to strengthen its submarine businesses, the Korean shipbuilder said Friday. According to the company, Hanwha Ocean signed a teaming agreement with CAE, a Canadian simulation technologies developer that provides integrated live, virtual and constructive training solutions for defense forces, at Canada's largest defense and security trade show CANSEC in Ottawa. Hanwha Ocean and Hanwha Aerospace were the only Korean firms to p

Defense and energy conglomerate joins US magazine's list as only Korean company this year

LS Eco Energy, an Asia-focused subsidiary of LS Cable & System, has identified submarine cables and rare-earth elements as the new growth engine for future business as the company aims to more than double its annual sales by 2030. “For the next 15 years and beyond, large electricity demand will continue across the world,” said Lee Sang-ho, CEO of LS Eco Energy, in a press conference held Tuesday at the Federation of Korean Industries building in Seoul. “By expanding the cab