Korean energy and environmental solutions provider SK Ecoplant formed a power purchase agreement with its sister firm SK hynix to facilitate the provision of renewable energy, thereby aiming to become the leading RE100 solutions provider, the firm announced Wednesday. The signing ceremony was attended by representatives from both companies, including Bae Seong-jun, vice president and head of SK Ecoplant's energy business center and Lee Byung-rae, vice president of SK hynix. "Utilizing

Flag carrier Korean Air, having recently secured conditional approval from the European Union's antitrust regulator for its merger with Asiana Airlines, is mandated to initiate the sale of Asiana Airlines' cargo division as part of the conditions for approval. According to sources in the investment banking and aviation sectors, Switzerland-based financial services firm UBS, tasked with selling Asiana Airlines' cargo division, has recently disseminated prospectuses and nondisclosur

CJ Group has named two new CEOs to lead its key units -- CJ CheilJedang and CJ Logistics -- as part of its annual personnel reshuffle announced on Thursday. Kang Sin-ho, currently the CEO of CJ Logistics, has been promoted to vice chairperson of CJ CheilJedang and will assume the role of CEO at the food company. Shin Young-soo, who presently oversees CJ Logistics' Korea business division, will replace Kang to take the helm as CJ Logistics CEO. This marks the first time since 2017 that CJ Gr

Korea's fried chicken franchise BBQ Chicken has opened a BBQ Smart Kitchen store specializing in delivery orders and takeout services in Vietnam, marking its Southeast Asian debut to tap into the rapidly growing delivery market. Genesis BBQ announced Friday the recent opening of its BBQ Gardenia branch, situated within the upscale Vinhome Gardenia apartment complex in Hanoi. "Given the unique growth trajectory of the Vietnamese delivery market among Southeast Asian nations, we are intr

Coupang Fulfillment Service, a subsidiary of e-commerce giant Coupang, announced on Thursday that it is has taken legal action against a lawyer who has claimed that the company blacklisted over 16,000 former and current employees, as well as individuals associated with Coupang, purportedly to prevent their reemployment or subject them to close monitoring in other situations. CFS filed a complaint with police in Songpa-gu, Seoul, against Kwon Young-guk, a lawyer and former head of legal advisory

The European Union's antitrust regulator on Tuesday granted conditional approval for the merger of Korean Air with its smaller domestic rival Asiana Airlines, leaving only the last approval from the US pending among the 14 relevant authorities. The announcement comes after the nation’s largest air carrier submitted a revised merger plan to the European Commission in November last year, which entails selling off Asiana Airlines' cargo business and turning over certain airport slots for fou

The European Union's antitrust regulator granted conditional approval for the merger of Korean Air with its smaller domestic rival Asiana Airlines on Tuesday, leaving only approval from the US pending among the 14 relevant authorities, according to Korean Air. The approval comes after the nation’s largest air carrier submitted a revised merger plan to the European Commission in November last year, which entails selling off Asiana Airlines' cargo business and turning over certain airport s

Amid soaring exports of Korean instant noodles in recent years, a renewed spotlight has been cast on a decadeslong dilemma among local food companies -- whether or not the word "ramen" should be ditched from their marketing strategy. Ramen, rooted in Japanese culinary tradition, has become a household name globally that refers to noodles in broth. The term "ramen" can also refer to instant noodle products. Amid a growing global presence, Korean businesses have long used the t

CJ Logistics, the nation’s largest logistic firm, affiliated with retail giant CJ Group, is speeding up its overseas expansion this year, according to industry sources on Monday. Its Indian subsidiary, CJ Darcl Logistics, aims to make its stock debut in the first half of the year, while the company plans to start construction of three massive distribution centers in the US later this year. CJ Logistics, commanding 45 percent of the domestic parcel delivery market, has been steadily expandi

As part of its business restructuring aims for this year, Lotte Group has decided to sell the ATM business of Korea Seven, formerly known as Lotte PSNet, which oversees the operation of the nation’s 7-Eleven convenience stores. According to Lotte Corp. on Wednesday, the group recently appointed accounting firm Samjeong KPMG to oversee the sale process and identify a suitable company to acquire Korea Seven's ATM division. Korea Seven is a distribution company that manages the 7-Eleven

The upcoming Seollal holiday is expected to see a significant rise in foreign tourists visiting Korea, prompting travel agencies and relevant tourism industries to prepare for a mass travel rush. According to global travel service provider Trip.com's report on Tuesday, reservation rates for foreign travelers between Feb. 9 to 12 have surged by approximately 40 percent, compared to the previous holiday season. The increase encompasses various regions, with Japan, Hong Kong, Taiwan, Thailan

Posco International, the trading arm of Posco Group, is poised to invest 1 trillion won ($755 million) exclusively in the energy sector this year, paving the way to establish itself as a globally recognized eco-friendly conglomerate in its key business area. The company outlined its business plans Tuesday, emphasizing "global expansion" as its mantra for 2024 to strategically bolster its major business value chain. Specific plans include a threefold increase in natural gas production a

The South Korean government aims to propel the K-food industry to reach 300 trillion won ($227 billion) worldwide by 2027, responding to the burgeoning global appetite for Korean cuisine. The vision was announced by the Ministry of Agriculture, Food and Rural Affairs, during an emergency economic ministers meeting Friday. The target signifies a doubling from the 2021 figure of 152 trillion won, with the number of overseas Korean restaurants set to increase to 15,000 globally, up from 9,923 in 20

Starbucks Korea announced on Thursday that its recent NFT eco-project, designed to promote reusable cup adoption, has led to saving approximately 600,000 disposable cups from use over a two-week period from Jan. 16. The NFT eco-project at Starbucks Korea is the first of its kind in Asia and encourages Starbucks Rewards members to use personal cups when placing orders through the Starbucks app. Once individuals earn eco-stamps, with a limit of three per day, they can be exchanged for Starbucks NF

Posco Holdings has confirmed a total of six finalists to compete for the Korean steel giant's top post, as the current Chairman Choi Jeong-woo’s official term is due to expire in March. On Wednesday, the company's CEO Recommendation Committee unveiled the six chairman candidates, including three Posco veterans and three outsiders, after their eight meetings over the past few weeks. The committee has been reviewing the finalists since Dec. 21 after Chairman Choi chose not to seek