Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Doosan wins W150b supply deal for Saudi power plants
Doosan Enerbility, a leading energy solutions provider in South Korea, announced on Monday that it has signed a contract valued at 150 billion won ($114 million) to supply equipment for Saudi Arabia's largest combined-cycle power plant project. The agreement was reached with China’s SEPCO-3, responsible for the engineering, procurement and construction of the combined-cycle power plants in the Taiba and Qassim regions in the Saudi kingdom. Under the contract, Doosan Enerbility will su
March 11, 2024
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EcoPro to inject W1.2tr in Pohang battery hub
South Korean battery materials maker EcoPro said Sunday it would invest 1.2 trillion won ($910 million) in its Pohang campus in North Gyeongsang Province this year to expand its comprehensive secondary battery supply chain, which covers everything from producing key components to recycling. The company plans to allocate 690 billion won to expanding its precursor plant, with additional funds directed toward increasing production of anode material at 32 billion won, lithium hydroxide production fa
March 10, 2024
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Koreans lose appetite for fruits amid soaring prices
South Korea’s fruit consumption has diminished by almost 20 percent over the past 15 years amid supply shortages and soaring prices, government data found Sunday. According to the Ministry of Agriculture, Food and Rural Affairs, the nation’s per capita fruit consumption declined by 19 percent to 55 kilograms in 2022 after peaking at 67.9 kilograms in 2007. Tangerines and apples topped the per capita consumption with 11.8 kilograms and 11.0 kilograms, respectively, followed by pears (
March 10, 2024
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Samsung’s H1 hiring season starts Monday
Samsung Group, South Korea’s top conglomerate, said Sunday that its official recruitment in the first half of this year will start Monday, with 19 affiliates joining the large-scale hiring of entry-level workers. The key affiliates include Samsung Electronics, Samsung Display, Samsung Biologics, Samsung SDS and Samsung SDI, Samsung C&T, Samsung Life Insurance and The Shilla Hotel. Applicants are required to submit their applications via Samsung’s official recruitment website from
March 10, 2024
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SK Ecoplant, Austria’s Therme to develop luxury resort in Songdo
South Korean energy and environmental solutions provider SK Ecoplant announced Sunday that it has partnered with the global wellness company Therme Group to develop a resort and spa in Incheon, Gyeonggi Province. The collaboration was formalized with a memorandum of understanding signing ceremony at SK Ecoplant's headquarters in Seoul on Friday, attended by SK Ecoplant CEO Park Kyung-il and Therme Group Chair Robert Hanea. The Austria-based Therme Group, famous for its innovative wellness r
March 10, 2024
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[Photo News] Empowering women leaders
Shinhan Financial Group Chairman Jin Ok-dong highlighted the need to nurture female leaders during the 2024 Shinhan SHeroes Conference held at the group’s headquarters in central Seoul on Friday. The conference celebrated the launch of the seventh class of Shinhan SHeroes, an in-house leadership training program for women. "Female leaders are individuals responsible for promoting diversity," Jin said. "Shinhan will train them to lead changes of the times." The program
March 10, 2024
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Handok-Genexine’s long-acting growth hormone gets orphan drug status in Korea
South Korean pharmaceutical company Handok announced Friday that GX-H9, a long-acting recombinant human growth hormone it co-developed with Genexine, has won orphan drug designation from the country's Ministry of Food and Drug Safety. Handok said the designation for GX-H9, which it received on Monday this week, will help the company speed up the launch of the medicine. In Korea, when a drug qualifies for the orphan drug designation, the drug is eligible for conditional approval based on res
March 8, 2024
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JB acquires stake in Vietnam's fintech app Infina
JB Financial Group on Thursday said it will acquire a minority stake in Vietnam’s retail investing app Infina, in a bid to help the group’s securities affiliate expand its customer base in the Southeast Asian country. In a strategic partnership deal, the group will buy 3.9 percent of Infina's shares and increase its holdings to some 5 percent depending on the results of collaboration between its brokerage unit JB Securities Vietnam and Infina. JB Securities Vietnam, based in H
March 8, 2024
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Lotte Group CEOs gather for AI conference in digital push
South Korean retail giant Lotte Group Chair Shin Dong-bin is stepping up efforts to increase the group’s artificial intelligence capability. Lotte Group, on Friday, announced that the company held a conference on AI technology at Lotte World Tower on Thursday. Around 110 officials from the group and its affiliates joined the conference, including Lotte Group Chair Shin, his eldest son and executive Vice President Shin Yoo-yeol, and chief executive officers of the group’s key business
March 8, 2024
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Samsung Display CEO named display industry association chief
South Korea will take back its sales lead in the global display market by 2027 with its technological edge, Samsung Display CEO Choi Joo-sun said Thursday upon his appointment as the new head of the Korea Display Industry Association. Choi vowed to boost the Korean industry's standing on the global stage through close collaboration with the government during his three-year term. "The Chinese government is spending a huge sum of money to foster its domestic display panel industry. So I
March 8, 2024
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Vine Group wraps up 2024 winter youth English camps
South Korean education provider Vine Group announced Thursday that its Sollute study abroad program has successfully concluded its 2024 winter vacation youth English camps. The winter vacation English camp, which attracted 141 participants, took place throughout January and February, lasting either three or seven weeks ahead of the new academic term. Its primary objective was to facilitate cross-cultural interactions while enhancing English language skills. Conducted in Canada, New Zealand, and
March 8, 2024
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Shinsegae heir apparent promoted to chairman
Chung Yong-jin, heir apparent of South Korea's Shinsegae Group, has been promoted to chairman to help the retail giant ride out unfavorable business environments and meet rapidly changing customer demands, the group said Friday. Shinsegae Group, which operates the country's biggest discount store chain and second-biggest department store chain, suffered a decline in sales for the first time last year since 1997, when it began to release the figures. "The appointment is aimed at ma
March 8, 2024
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Woori revamps private banking service
Woori Bank, South Korea's fourth-largest commercial lender, is enhancing its private banking services to solidify its reputation as a trustworthy institution for clients. In a press conference Thursday, the bank unveiled its renewed commitment to expanding its presence in the asset management sector amid ongoing trust issues within the banking industry. With this vision, Woori Bank has assembled a team of experts spanning various sectors, such as tax, foreign exchange and real estate. The l
March 7, 2024
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Lotte, LG in talks to sell petrochemicals plants
Korean petrochemicals firms are downsizing their businesses as they are grappling with lower demand and higher supply of products from China, according to industry sources Thursday. Lotte Chemical, South Korea’s leading petrochemicals company, has reportedly embarked on the process of selling its Malaysian unit Lotte Chemical Titan Holdings. In addition, its domestic rival LG Chem is said to be in talks with Kuwait Petroleum Corp. to sell a stake in its naphtha cracking center in Yeosu, So
March 7, 2024
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Seoul court bans former SK hynix chip researcher from working for US rival
In the wake of heated competition for chip supremacy, a Seoul court has stepped in to block a former chip researcher involved in chip design at SK hynix from working for US-based rival Micron Technology, alleging possible technology leaks. According to industry sources on Thursday, Seoul Central District Court granted permission to an injunction request filed by SK hynix late last month to prevent the former researcher from working for another company, and ordered the executive to pay 10 milli
March 7, 2024
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HD Hyundai Heavy Industries opens Manila office to foray into Southeast Asia
South Korean shipbuilding giant HD Hyundai Heavy Industries is seeking to continue its expansion into the burgeoning warship market in Southeast Asia as it opens a regional base in the Philippines. The company said Thursday it recently held the opening ceremony of its engineering office in Bonifacio Global City, Manila. The event was attended by HD HHI’s Naval and Special Ship Business unit chief Joo Won-ho and Philippine Deputy Minister of Undersecretary for Acquisition and Resource Manag
March 7, 2024
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Air Premia, Air Incheon strong contenders for Asiana’s cargo arm
Close competition is predicted among the four domestic low-cost carriers vying for the acquisition of Asiana Airlines' cargo division, with Air Premia and Air Incheon emerging as the prime contenders, according to industry sources on Thursday. Financial services firm UBS, which is overseeing the sale of Asiana Airlines' cargo division, recently selected four LCCs -- Jeju Air, Eastar Jet, Air Premia and Air Incheon -- as shortlisted candidates for the acquisition. The decision follows t
March 7, 2024
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AmCham holds policy talks with FTC chief
Fair Trade Commission Chair Han Ki-jeong on Thursday shared the key policies of the antitrust regulator for this year, including the controversial anti-monopoly platform bill, at a conference hosted by the American Chamber of Commerce in Korea. “The Fair Trade Commission will strive to establish a fair market economy system that serves as the basis for economic stability and market innovation,” Han said, citing deepening inflation and high interest rates as continued economic difficu
March 7, 2024
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Eximbank, US energy department join hands on supply chain resilience
The state-run Export-Import Bank of Korea said Thursday that it has inked a memorandum of understanding with the US Department of Energy to bolster their partnership in supporting the Korea-US supply chain and sustainable energy projects between the two nations. This marks the first time Eximbank has entered into such a partnership agreement with a US government agency, underscoring the growing ties and shared interests between the two nations in the realms of sustainable development and clean e
March 7, 2024
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Hyundai E&C seeks to join UK SMR project
Hyundai Engineering & Construction announced Wednesday that the company signed business agreements with US energy equipment supplier Holtec International, and with UK construction firms Balfour Beatty and Mott MacDonald, in a bid to join the UK government’s small modular reactor project. The UK government plans to expand nuclear energy capacity to 24 gigawatts by 2050, through building a fleet of SMRs. Holtec is one of the six developers that have been shortlisted to win the project. Holte
March 7, 2024