LG Uplus, one of the nation's top telecom carriers, said Wednesday it plans to build a large-scale data center in response to the growing demand for such facilities, largely driven by the widespread adoption of artificial intelligence and cloud servers across industries. To build the new data center, the company is set to acquire land and buildings located in Paju, Gyeonggi Province, from LG Display, a panel manufacturing arm of LG Group. The exact investment amount and construction timelin

After successful launches in US, Asia, Korean car wash specialist now looks to Middle East

Yoon Yoon-soo, chairman of the Fila Holdings Corp. and Acushnet Holdings Corp., has been named this year's winner of the General James A. Van Fleet Award in recognition of his contributions to Korean-US relations, according to the Korea Society on Wednesday. The Korea Society highlighted Yoon's involvement in founding and advising the Korea-US Alliance Foundation and the Korea Defense Veterans Association in 2017, both of which honor the bravery and sacrifice of Korean War veterans, as

More than 250 startup companies have joined KB Financial Group’s accelerator program over the past 10 years to scale up businesses into unicorns in the fintech industry. KB Financial Group held an event on Tuesday marking the 10th anniversary of the KB Innovation HUB Center, the first organization dedicated to fostering and supporting startups in the financial sector. Since KB Innovation HUB Center’s inception in 2015, the group launched its startup accelerator program, KB Starters

Opening first store in former McDonald’s building, CEO confident of luring picky Japanese customers with Korean-style burgers

CJ Foodville said Monday it has opened two new Tous Les Jours branches in Cambodia, as part of efforts to broaden its foothold in Southeast Asia. The two new branches, which opened Friday in Kam Puchea Kroum and Toul Tom Poung in the country’s capital, Phnom Penh, mark the first locations for CJ Foodville to showcase the Tous Les Jours brand in the country. According to the company, both of the new branches feature a hybrid concept of cafe and bakery elements, boasting a selection of over

SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson

KT&G’s newly-appointed CEO Bang Kyung-man recently embarked on a business trip to Indonesia, a nation the company projects as a new production hub on the global stage, according to the South Korean cigarette manufacturer on Sunday. The business trip is Bang's first since assuming the role of CEO last month. Following shareholder approval during the company's annual general meeting on March 28, Bang, formerly the company's vice president, ascended to his new leadership

Hyundai Mobis, the auto parts manufacturer under Hyundai Motor Group, said Wednesday it held a ground-breaking ceremony for its first factory in Western Europe, which will manufacture battery systems, particularly focusing on supplying the Volkswagen Group. The new factory in Navarre, Spain, will cover an area of 150,000 square meters, with a floor space of 50,000 square meters, and it will have the capacity to produce up to 360,000 battery system assemblies annually. In line with its goal to

HD Hyundai Heavy Industries and Norway's Philly Shipyard signed a memorandum of understanding to collaborate on manufacturing, maintaining, repairing, and overhauling vessels and ships ordered by the US government, the South Korean shipbuilder said Wednesday. The signing ceremony was held at Philly's shipyard in Philadelphia, Pennsylvania, on April 12 -- with key officials from both companies in attendance, including Joo Won-ho, head of HD Hyundai Heavy Industries’ special ship b

Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts. Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest. The promotional rate is offered to first-time customers of SC Bank Korea who open accounts by April 30. The promotion wi

Korea Ginseng Corp., the country’s leading manufacturer of ginseng products, said Monday it plans to prioritize its marketing efforts in the Indonesian market, particularly leveraging the growing popularity of the Indonesian volleyball player under its sponsorship. Currently, the KGC sponsors the Red Sparks women’s volleyball team under its premium ginseng product brand, JungKwanJang. In 2023, the volleyball team was joined by Megawati Pertiwi, a 24-year-old volleyball player from In

S-Oil, one of major refineries in South Korea, made a donation of 560 million won ($405,000) to the Korea National Council On Social Welfare to support its ongoing program assisting firefighters and their families, the company said on Friday. According to the refinery company, the KNCSW, a charity organization under the Ministry of Health and Welfare, will allocate the fund to the Heroic Firefighter Protection program. This program covers the medical expenses of injured firefighters, provides sc

Sungsimdang, a local bakery brand based in Daejeon, outperformed the country's top bakery franchise giants, Paris Baguette and Tous les Jours, logging record sales last year, a regulatory filing showed Friday. Rosso, Sungsimdang's holding company, said the bakery recorded sales figure of 124.3 billion won ($89.7 million) in 2023, a 52.1 percent increase from the previous year’s 81.7 billion won. It is the first time a local bakery has achieved more than 100 billion won in sales w

CJ Olive Young said Thursday it has introduced portable translators supporting 16 languages in its outlets nationwide to enhance the shopping experience for foreign visitors and the work efficiency of its employees. The handheld device supports 16 languages for real-time translation, including English, Chinese, Japanese, Vietnamese, Russian and Mongolian. In addition, they offer sight translation through an attached camera, allowing users to take a picture and see the translated text on the scre