Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Seoul to promote luxurious side of the city
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Experts raise concerns about Japan putting pressure on Naver over Line
Experts have raised concerns over the Japanese government's action to pressure Korean portal giant Naver to cut its control of Line, the messaging app used by over 70 percent of the Japanese population, calling it an "unprecedented” case between the two countries with friendly relations. Since last month, Japan's Ministry of Internal Affairs and Communications has directed Tokyo-based LY Corp., the operator of Line, to lower its dependency on Naver in the wake of a data brea
April 26, 2024
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Korea’s top finance firms put aside W1.7tr for Hong Kong-tied ELS compensation
Korea’s top finance firms -- KB, Shinhan, Hana, Woori and NongHhyup -- have set aside a total of nearly 1.7 trillion won ($1.2 billion) in reserve for the compensation of losses related to the misselling of equity-linked securities products tracking the Hang Seng China Enterprises Index in Hong Kong. While KB Financial Group, the top seller of the ELS products, set aside 862 billion won to cover the compensation, NongHyup and Shinhan each allocated 341.6 billion won and 274 billion won.
April 26, 2024
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Jeju Air opts out of Asiana Airlines' cargo division bid
During the bidding process among domestic low-cost carriers for the acquisition of Asiana Airlines' cargo division, Jeju Air, previously considered the front-runner, has chosen not to participate in the bidding. According to industry sources, the main bidding process, organized by financial services firm UBS for the sale of Asiana Airlines' cargo plane division on Thursday, saw the participation of three budget airlines: Eastar Jet, Air Premia and Air Incheon. Jeju Air did not submit a
April 26, 2024
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Posco Future M, Honda to launch battery materials venture in Canada
Korean battery materials producer Posco Future M has partnered with Japanese automaker Honda Motor to create a joint venture focused on producing cathode materials for electric vehicle batteries in the Canadian province of Ontario to bolster the supply chain for electric vehicles in North America. Under the agreement signed Thursday, the joint venture will supply cathode materials directly to Honda for use in the production of electric vehicle batteries across the continent. They plan to finaliz
April 26, 2024
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Samsung mobile chief, Google device head meet in Seoul
Samsung Electronics President and mobile business chief Roh Tae-moon and Google Senior Vice President Rick Osterloh, who oversees the company’s platforms and devices team, met in Seoul on Thursday and discussed ways to strengthen their partnership on artificial intelligence. After a meeting with Roh on Thursday, Osterloh posted later in the day on X, previously known as Twitter, with a picture taken with the Korean tech giant’s mobile chief. “Had a terrific conversation with TM
April 26, 2024
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LG Chem eyes new leap into top science company
LG Chem, South Korea's leading chemical company, unveiled Thursday a new vision to transform into a global top-tier science company, centering on its three business pillars -- electric mobility, sustainable materials and pharmaceuticals. Under the new vision, it has set an ambitious goal of reaching 60 trillion won ($43.6 billion) in sales by 2030. “LG Chem has achieved more than 10 times the sales growth over the past 20 years by diversifying its business portfolio, from battery bu
April 25, 2024
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Hyundai, Kia seek to boost presence in China market
Hyundai Motor Group on Wednesday unveiled a slew of new vehicles at the 2024 Beijing International Automotive Exhibition, ramping up efforts to boost its sluggish presence in the world's largest automotive market. At the Beijing Auto Show, one of the biggest motor shows that has returned in-person after four years, all three brands of the Korean auto giant -- Hyundai Motor, Kia and Genesis -- promised to introduce electric vehicles tailored for Chinese customers. Unveiling the Ioniq 5 N hig
April 25, 2024
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Eximbank to nurture regional development specialists
The state-run Export-Import Bank of Korea said Thursday that it planned to dispatch 34 young regional specialists to 13 developing countries under its Economic Development Cooperation Fund, aimed at cultivating a new generation of experts in global development cooperation. As a member of the OECD Development Assistance Committee, South Korea has long been committed to supporting infrastructure development in emerging economies and crafting innovative models for development cooperation. Initiated
April 25, 2024
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[Photo News] Cleaning the skies
Korean Air conducts its annual aircraft cleaning at its maintenance hangar at Incheon International Airport on Thursday. The Boeing 777-300ER, designated for long-distance routes and boasting the largest fuselage among twin-engine planes in Korea, underwent a meticulous cleaning process to ensure safe and efficient flights. The cleaning process, which encompassed the fuselage, main wing, tail wing and cockpit windshield, took some three hours, with 17 personnel deployed for the task, according t
April 25, 2024
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Senior officials from S. Korea, US discuss cooperation in chip industry
Senior trade officials from South Korea and the United States have discussed ways to broaden cooperation in the semiconductor sector, officials said Thursday. Deputy Minister for Trade Yang Byeong-nae met with his US counterpart, Ramin Toloui, in Seoul earlier in the day during which Yang asked Toloui to offer sufficient support for South Korean firms seeking to invest in the US Last week, the US government revealed a plan to grant Samsung Electronics Co. up to $6.4 billion to support its chipma
April 25, 2024
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Samsung Biologics Q1 earnings hit all-time high
Samsung Biologics, a leading contract development and manufacturing organization, announced Wednesday that the company’s earnings in the first quarter this year hit an all-time high. In the January-March period, Samsung Biologics’ sales increased by 31.3 percent on-year to 946.9 billion won ($690 million) from the previous year’s 720.9 billion won. Its operating profit also reached 221.3 billion won, up 15 percent on-year. “The operation of the fourth plant has largely co
April 24, 2024
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SK Leaveo to produce biodegradable wet wipes
SK Leaveo, a subsidiary of South Korean chemical giant SKC specializing in biodegradable materials, has formed a partnership with paper product manufacturer KleanNara to create a new line of biodegradable hygiene products, starting with eco-friendly wet wipes. Under a newly signed agreement on Wednesday, SK Leaveo and KleanNara will focus on producing hygiene products that are not only sustainable but also practical for everyday use. The collaboration aims to harness new materials such as poly
April 24, 2024
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Orion's Turtle Chips sales soar in US
The popularity of the Orion brand's Turtle Chips continued to grow in the US last year, boosting its annual sales to around 12 billion won ($8.8 million). Orion, a South Korean confectionery and snack manufacturer, is supplying the chips at the snack bars of major firms such as Google and Netflix, the company said Wednesday. According to Orion, the annual sales of Turtle Chips in the US reached 12 billion, around 200 times higher than the figure in 2017 when the company first launched the s
April 24, 2024
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Korean robot startup aims to transform human walking
South Korean robotics startup WIRobotics aims to transform the walking experience via its award-winning wearable robot WIM, made lighter and more convenient for everyday use, the company's chief said Wednesday. "We believe humans will be able to enhance walking and physical abilities with the assistance of the interactive robotics technology, and have thought wearable robots will be optimal," WIRobotics CEO and Chief Technology Officer Kim Yong-jae said at the press conference in
April 24, 2024
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LG Energy Solution vows stern action to protect patent rights
LG Energy Solution announced new stringent policies Wednesday to address rampant patent infringements by what it describes as "patent free-riders." The nation's top battery maker plans to enforce its intellectual property through legal actions and promote equitable competition by contributing to a legitimate battery patent licensing market. This decision comes in response to an increasing number of companies -- both new entrants and established manufacturers -- exploiting LG Energ
April 24, 2024
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Hanwha Life taps into global banking through fresh investment in India
Hanwha Life, a leading Korean insurance company and the life insurance subsidiary of Hanwha Group, has made a strategic move into the Indonesian banking sector through a stake investment. The company announced on Wednesday that its board had approved securing a 40 percent stake in Nobu Bank from Indonesia's Lippo Group, marking the first entry of a Korean insurer into the Indonesian banking industry. The decision was made during an extraordinary board meeting held on Tuesday. Hanwha Life
April 24, 2024
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Coway launches Berex massage bed with enhanced usability
South Korean home appliance maker Coway has launched a new massage bed, the Berex Reclining Massage Bed, as part of product diversification aimed at the nation's soaring massage chair market. The new product is the first of its kind to incorporate an automatic upper-body reclining function, specifically designed to ease the process of lying down and standing up -- a feature that addresses usability for the elderly and those with mobility challenges. The model does not require users to man
April 24, 2024
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KGC eyes broader customer base with Lim Young-woong
Korea Ginseng Corp., the leading manufacturer of ginseng products in the country, has launched a new promotional video featuring trot singer Lim Young-woong. Released on Wednesday, the video showcases a day in the life of Lim, from morning routines to exercise and singing practice. The video highlights the use of JungKwanJang, the company's premium red ginseng brand, portraying its products as essential for daily vitality. Lim, known for his victory in a popular singing competition, appeals
April 24, 2024
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AmCham seminar explores Korea’s potential as regional business hub
The American Chamber of Commerce in Korea hosted the sixth Doing Business in Korea seminar on Tuesday to explore strategies for bolstering Korea’s competitiveness as a regional business hub in the Asia-Pacific region. This year’s event was held at a Seoul hotel, drawing participation from officials and policymakers from the Korean and US governments, as well as representatives from domestic and foreign companies. AmCham CEO James Kim stated in his opening remarks, "Given Korea&r
April 24, 2024
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KITA partners with German VC fund to bolster auto firms in Gwangju
The Korea International Trade Association is ramping up its efforts to support the overseas expansion of local mobility companies in the Gwangju area. On Tuesday, the state-run trade agency's regional headquarters for Gwangju and South Jeolla Province announced that it had signed a memorandum of understanding with MobilityFund, a German venture capital fund, and the Gwangju Green Car Promotion Agency to help boost the global competitiveness of local future and eco-friendly automobile firms.
April 23, 2024