Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Korea enters full election mode
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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Korean stocks benefit from Zuckerberg's Seoul visit
Following the high-profile visit of Meta CEO Mark Zuckerberg this week, stocks related to advanced technologies including artificial intelligence, augmented reality and display panels are gaining attention. In a report on Friday, Korea Investment and Securities suggested eight stocks, including Samsung Electronics and LG Electronics, that would benefit from Zuckerberg's visit to Seoul. Traveling to Korea for the first time in about a decade, Zuckerberg met with President Yoon Suk Yeol and b
March 1, 2024
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Will Samsung introduce Galaxy AI to budget phones?
As Samsung Electronics is expected to roll out its new Galaxy A series this month, anticipation is growing on whether the mid-range smartphone models will feature the tech giant’s latest artificial intelligence features. According to industry sources on Friday, the leading smartphone maker is expected to roll out the Galaxy A35 and A55 smartphones that support 5G connection. Amid growing attention, tipsters are even predicting the launch date as March 11. SamMobile, a leading source for Sa
March 1, 2024
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SK chief to lead KCCI for 2nd term
SK Group Chair Chey Tae-won is set to serve as chairperson of the country’s business organization Korea Chamber of Commerce and Industry for another term. On Thursday, members of the Seoul Chamber of Commerce and Industry unanimously agreed to tap Chey as chair of the regional chamber under the KCCI for a three-year term that ends in February 2027 during a general meeting of members held in Seoul. With Seoul members’ backing, Chey, whose first term expires in March, is on the course
March 1, 2024
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SK Ecoplant, China's CSCEC to carry out W2.6tr hydrogen project in Egypt
Korean energy and environmental solutions provider SK Ecoplant said Thursday that the company will work together with the China State Construction Engineering Corp. on a 2.6 trillion won ($1.9 billion) green hydrogen project in Egypt. SK Ecoplant, CSCEC and the Egyptian government signed a memorandum of understanding in Cairo on Wednesday, the company added. Under the project, SK Ecoplant and China’s largest construction company will establish solar panels and wind turbines in Egypt, which
Feb. 29, 2024
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[KH Explains] What does Apple's dead car project mean for Samsung, Hyundai?
Earlier this week, Apple announced that it will ditch its decade-long car project, saying more resources will be poured into artificial intelligence in the future. An Apple-made car had long been a buzzword across industries. Carmakers had braced for a direct threat, while tech rivals had started working on their own car projects. But Tuesday’s surprise announcement was a reality check moment not just for the iPhone maker but also for the whole tech industry: Making a car proved too diffic
Feb. 29, 2024
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Ramyeon exports soar to record high in January
Shortly after achieving record-breaking ramyeon export sales last year, Korean instant noodle exports surged significantly by 39.4 percent again in January compared to the same month last year, reaching a total of $86 million. According to the Korea Customs Service on Thursday, January's performance marks the fifth-largest figure ever, with the highest monthly total to date reaching $91 million, achieved last November. In 2023, ramyeon exports reached a total of $952 million, increasing a d
Feb. 29, 2024
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Starbucks Korea donates W100m to mark March 1st Movement Day
Starbucks Korea said Thursday it has donated 100 million won ($76,150) to the National Trust for Cultural Heritage in commemoration of the 105th anniversary of the March 1 Independence Movement Day. During the donation ceremony at Deoksugung Palace on Wednesday, the coffee chain demonstrated its dedication to preserving cultural legacy and enhancing corporate social responsibility. In anticipation of the forthcoming Liberation Day on Aug. 15, Starbucks Korea has pledged to donate an additional c
Feb. 29, 2024
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Hyundai's Hillstate Dongtan Forest offers unique opportunities
Hyundai Engineering & Construction, South Korea's construction giant, announced on Thursday its search for additional tenants at Hillstate Dongtan Forest, a public-supported private rental apartment complex in Dongtan, Gyeonggi Province. The complex, featuring eight 20-level buildings and offering a total of 585 units, provides a diverse array of living spaces. Comprising 198 units with 84 square meters and 387 units with a more spacious 101 square meters, it caters to various accommoda
Feb. 29, 2024
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Kakao Pay vice president appointed head of securities unit
Shin Ho-cheol, vice president of Kakao Pay, was appointed as new chief executive officer of the stock brokerage arm, Kakao Pay Securities said Wednesday. The appointment was approved during the board of directors meeting on the same day. Pending approval at the group's regular general meeting of shareholders scheduled for March 27, Shin is set to officially assume leadership. “Given the significant responsibility of this position, I will spare no effort in expanding our growth and con
Feb. 28, 2024
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Daewoong names Nabota chief as new co-CEO
Daewoong Pharmaceutical, South Korea’s leading pharmaceutical company, is expected to appoint Vice President Park Seong-soo as its new co-CEO during its annual shareholders meeting in March, according to industry sources Wednesday. “Daewoong aims to accelerate the expansion of its overseas businesses with Park's appointment,” a source familiar with the internal matter said on condition of anonymity. Park has held diverse positions, handling global issues since he became th
Feb. 28, 2024
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Celltrion begins shipment of Remsima SC for US debut
Biopharmaceutical giant Celltrion announced Wednesday that the first batch of its new autoimmune disease treatment Zymfentra, also known as Remsima SC, has been shipped for its planned debut in the US next month. Zymfentra is the first and only subcutaneous injection version of Remsima, Celltrion’s infliximab biosimilar, to have been approved by the US Food and Drug Agency. The company said its more patient-friendly administration compared to the current intravenous injection version is ex
Feb. 28, 2024
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US Navy secretary scouts Korean shipbuilders for fleet support
US Secretary of the Navy Carlos Del Toro toured the shipyards of HD Hyundai Heavy Industries and Hanwha Ocean on Tuesday to explore their military shipbuilding capabilities for handling comprehensive support services for the US Navy fleet, as part of US defense needs to bolster its naval presence in Asia. Del Toro's visit to Korea comes as the US contemplates outsourcing naval ship maintenance, repair, and overhauls, or MRO, to alleviate domestic capacity constraints. These services keep na
Feb. 28, 2024
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Coupang reports first profitable year
New York-listed e-commerce giant Coupang on Wednesday reported its first-ever annual operating profit of $473 million last year, marking a milestone since its inception in 2010. It also reported $24.4 billion in sales, a notable 20 percent jump from 2022. In the fourth quarter alone, its quarterly sales soared 20 percent to a record $6.6 billion, while its operating profit saw 51 percent on-year growth to $130 million. "Since the beginning of this company, we have made foundational bets on
Feb. 28, 2024
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SK Telecom, SK Enmove, UK’s Iceotope join hands for data center innovation
SK Telecom said Wednesday it had teamed up with Iceotope Technologies, a precision liquid cooling firm in Britain, and its sister firm SK Enmove to develop a liquid cooling solution with high energy efficiency for artificial intelligence data centers. The leading mobile carrier in Korea said it has signed a partnership agreement with Iceotope and SK Enmove, a base oil and lubricants provider affiliated to SK Group to come up with a data center air conditioning and cooling system to cut large pow
Feb. 28, 2024
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LX Hausys to ramp up presence at KBIS trade show
South Korean construction and interior materials company LX Hausys on Wednesday said it is participating in this week's Kitchen and Bath Industry Show in Las Vegas, which runs through Thursday. The company said it aims to showcase its latest collection of engineered stone and artificial marble, aligning with its strategic goal of expanding into the thriving overseas market. Artificial marble, known for its cost-effectiveness and durability against impact, scratches and stains, constitutes a
Feb. 28, 2024
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Fescaro provides all-in-one solutions for vehicle cybersecurity
With a growing number of industries becoming digitalized to cut costs and boost efficiency, the potential of cyber security measures and software-defined vehicles has been a hot topic for carmakers across the world. Fescaro, a leading cybersecurity specialist, seeks to spearhead the change with its all-in-one cybersecurity solutions customized to meet the needs of its clients, in accordance with changing international standards. The European Union in 2022 introduced cybersecurity regulations, ma
Feb. 28, 2024
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DAPA clears HD Hyundai Heavy to bid in gov't contracts
The state arms procurement agency on Tuesday cleared major shipbuilder HD Hyundai Heavy Industries Co. to bid in government contracts after deliberating on its possible restriction over the company's involvement in a military secret leak. Last November, employees at HD Hyundai Heavy Industries were found guilty of violating the Military Secret Protection Act by acquiring military secrets related to the Korea Destroyer Next Generation (KDDX) project and sharing them on their company server f
Feb. 27, 2024
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Mirae Asset Securities strengthens foothold in India
South Korea's brokerage Mirae Asset Securities announced Tuesday that its Indian unit hit a significant milestone, with its retail customer accounts surpassing one million in five years after its launch in 2018. India, the world's fifth-largest economy, holds strategic importance for Mirae Asset Financial Group, leading to substantial investments to bolster its presence in the country. The financial giant made its mark in India with the introduction of the online brokerage platform, m.
Feb. 27, 2024
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Hahn & Co., Kolon to form joint venture for industrial film
Hahn & Co., the nation's largest private equity firm in terms of assets under management, is to set up a joint venture with Kolon Industries, a chemical and textile manufacturing unit under Kolon Group, to bolster its industrial film business. The two entities have signed a binding memorandum of understanding to cooperate for the launch of the joint venture, according to a disclosure filed by Kolon Industries Tuesday. “The related parties are discussing the details. An announcemen
Feb. 27, 2024
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Merck’s Keytruda tops drug sales in Korea
Merck’s immuno-oncology drug Keytruda, one of the best-selling drugs in the world, topped drug sales in Korea for the second consecutive year in 2023, according to market tracker IQVIA on Tuesday. Keytruda’s sales in Korea came to some 399 billion won ($300 million) in 2023, up 159 billion won from the previous year, while global sales of Keytruda hit $25 billion, making it the top-selling drug worldwide. “Keytruda’s success in the country came as the drug can be prescrib
Feb. 27, 2024