Samsung Electronics Chairman Lee Jae-yong has embarked on a business trip to Paris to leverage the 2024 Paris Olympics to strengthen ties with key global business partners, political figures and sports leaders, the company said Sunday. Since arriving in Paris last Wednesday, Chairman Lee has engaged in a series of high-level business meetings. This marks his first attendance at the Olympics since the 2012 London Games. His agenda includes discussions with leaders from the semiconductor, IT and a

Tmon, an online marketplace platform owned by Singapore-based e-commerce company Qoo10, on Friday, started issuing refunds to customers who did not receive their products purchased on the platform hit by a liquidity crisis. This move comes a day after the CEO of WeMakePrice, another affiliate of Qoo10, offered an apology and began issuing refunds as hundreds of consumers visited the headquarters of the online marketplace platform. Tmon and WeMakePrice, which were acquired by Qoo10 in 2022 and 20

An analysis of 81 conglomerates categorized as "middle market enterprises" showed Wednesday that the second generation of owner families owns a total of 33.5 percent of company shares. Corporate tracker CEO Score analyzed the shareholding structure of companies with 2 trillion won ($1.44 billion) or more in assets, and found that the combined value of shares held by owner families' second generations came to 13.39 trillion won as of July 15. The second generation in the report r

LG Chem announced on Wednesday that Rhythm Pharmaceuticals, which had acquired the global license for LB54640 -- a new oral drug for a rare form of obesity developed by LG Chem -- has begun giving doses to the first participants in a phase 2 clinical trial. For the phase 2 trial, Rhythm Pharmaceuticals recruited 28 patients aged 12 and older with hypothalamic obesity -- a condition caused by congenital or acquired damage to hypothalamic function, resulting in difficulties in appetite control. Th

Nongshim announced on Tuesday that it has been selected for South Korea's smart farm export project that aims to establish and operate a pilot greenhouse in Saudi Arabia. The project is initiated by the Ministry of Agriculture, Food and Rural Affairs and led by the Korea Agriculture Technology Promotion Agency, according to the company. The agreement ceremony took place at Nongshim's headquarters in Seoul, attended by Nongshim CEO Lee Byung-hak, Korea Agriculture Technology Promotion A

Buoyed by robust growth in overseas sales, CJ CheilJedang pioneers global talent acquisition

Chinese e-commerce giant Alibaba.com, owned by Alibaba Group, said Monday that it will launch an online platform to help Korean sellers expand into global online markets. The new platform, called the South Korea Pavilion, will be available starting Aug. 8 and will focus on business-to-business transactions, according to the company. "Despite the abundance of talented sellers in Korea across various fields such as food, cosmetics and auto parts, many still struggle to expand their online sal

Hanwha Aerospace said Monday that it will unveil the prototype of a 15,000-pound-thrust-class turbofan engine for the first time at this year's Farnborough International Airshow taking place in the United Kingdom throughout this week. The engine will power South Korea's KF-21 fighter jets and uncrewed combat aircraft in the future. Along with Hanwha Aerospace's latest development, Hanwha Systems will exhibit its active electronically scanned array, or AESA, radars for different ty

SK On's announcement Wednesday that it will merge with SK Trading International and SK Enterm has raised hopes of a potential turnaround in its financial performance and competitiveness in the battery industry. SK On has been grappling with persistent financial losses. The company, spun off from SK Innovation in October 2021, reported an operating loss of 581.8 billion won ($419.5 million) last year and 315 billion won in the first quarter of this year. This marked its 10th consecutive quar

Daewoo Engineering & Construction has been chosen as the preferred bidder to build nuclear power plants in the Czech Republic, the company said Thursday. According to the Ministry of Trade, Industry and Energy earlier in the day, the Czech government has selected the state-run Korea Hydro & Nuclear Power as the preferred bidder to build four nuclear power units in the country. If the final contract is signed in March 2025, Daewoo E&C will be responsible for the construction. Daewoo E

SK Innovation merges with SK E&S; SK On amalgamates with SK Trading International, SK Enterm

Governance shakeup pits Bobcat's profits against Robotics' potential

DNK, a Seoul-based property management solution provider, formerly known as Dongnae, said Tuesday it has launched its fully redesigned property management system that enhances convenience for asset managers through centralized operational services. Currently managing over 15,000 units in the Korean market, the system now offers advanced features such as tenant tax reporting tools and banking virtual account integration. It supports English and Korean. Additionally, DNK disclosed its intention to

LG Electronics said Monday it has opened a new research lab in Frankfurt, Germany dedicated to developing its heating, ventilation and air conditioning (HVAC) technologies, with a focus on providing practical air solutions for the European market. The Frankfurt facility, covering around 1,000 square meters, is the third of its kind, following branches in Changwon, Korea and Atlanta, the US. Its primary focus is to develop high-quality HVAC technologies for residential, commercial and industrial

Auto giant beefs up global policy office to better weather geopolitical risks