Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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JungKwanJang opens first drugstore
JungKwanJang, South Korea’s leading red ginseng brand under Korea Ginseng Corp., said Monday that it has opened its first drugstore, Jung Mall Euljiro Store, in central Seoul. The new store sells not only JungKwanJang's own products, but more than 90 different products from other companies as well, the company said. JungKwanJang's physical stores previously dealt in only the company's own ginseng extract products. The products available at the Jung Mall Euljiro Store include
Jan. 22, 2024
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Hanlim partners with NBBJ to support Seoul’s urban innovation
Hanlim Architectural Group, an end-to-end real estate service company from South Korea, has partnered with American architectural firm NBBJ to foster international growth and support Seoul's urban innovation initiatives. The partnership was formalized at NBBJ's Los Angeles office on Jan. 15, amid the presence of Hanlim Architectural Group Chairman Park Jin-sun, NBBJ CEO Robert Mankin, Design Leader Pascal Suh and Real Estate Strategist Rick Pauios. Representing the global design initia
Jan. 19, 2024
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Posco International to supply EV parts to Hyundai Mobis
Posco International said Thursday that it will supply 1.03 million motor cores for Hyundai Motor Group electric vehicles produced in Europe. The parts are to be supplied to Hyundai Mobis’ EV factory in Slovakia from 2025 to 2034. Of the total, 550,000 units are to be sent to Hyundai Motor’s Turkey plant, while 480,000 units will go to Kia’s Slovakia plant. The company said the new deal gives a big boost to its upcoming production site in Poland. In June, Posco International est
Jan. 18, 2024
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[Graphic News] Number of newly launched businesses falls
The number of newly established companies in South Korea fell for the second consecutive year in 2022 amid an economic slowdown, data showed. Some 997,000 businesses were newly established in 2022, down 3.5 percent from a year earlier, according to data compiled by Statistics Korea. In 2021, the figure decreased 3.4 percent, or 35,000 firms, on-year to come to 1.02 million amid the COVID-19 pandemic. By industry, the number of newcomers in the real estate sector fell by the largest 32,000 entiti
Jan. 17, 2024
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Pernod Ricard Korea promotes sustainability in bar industry
Pernod Ricard Korea, the local subsidiary of global wine and spirits company Pernod Ricard Group, said Tuesday that it held a special lecture on Monday to promote a sustainable culture in the bar industry. As part of the company's professional training program called "Bar World of Tomorrow," Pernod Ricard Korea has been conducting special lecture series since 2022, inviting influential figures in the bar industry as speakers. "In order to establish a culture of sustainability
Jan. 16, 2024
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LG Chem CEO named business council member of Davos forum
LG Chem Vice Chairman and CEO Shin Hak-cheol has been named a member of the International Business Council, part of the World Economic Forum’s annual meeting in Davos, Switzerland, the Korean chemicals firm said Monday. The WEF, also known as the Davos Forum, kicked off in Switzerland on Monday and goes through Friday. It brings together thousands of leaders from business, government and various other sectors. LG Chem said that WEF Chairman Klaus Schwab invited Shin to be a member of the I
Jan. 15, 2024
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Coupang resumes partnership with LG H&H
South Korean e-commerce giant Coupang said Friday it will resume delivery service of LG Household & Health Care products, reinstating their partnership which has been severed for nearly five years due to a feud between the two companies. LG H&H's household brands including Elastin, Perioe and CNP, as well as its cosmetic line-ups such as O Hui and Sum 37º, will be available on Coupang's delivery service starting mid-January, the e-commerce firm said. A specific date was
Jan. 12, 2024
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Shinsegae’s Better Foods secures funding from Cleveland Avenue
Better Foods, Shinsegae Food's subsidiary specializing in plant-based products, said Thursday that it has secured investment from the US venture capital investment company, Cleveland Avenue. The exact amount of the deal was not disclosed immediately. Shinsegae Food established Better Foods in the US in 2022 in a bid to strengthen its global competitiveness in plant-based products, one of the retail giant's growth drivers. Cleveland Avenue is a venture capital firm established in 2015 b
Jan. 11, 2024
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P&G Korea showcases brand new diaper 'Pampers Baby-Dry Pants'
P&G Korea, the local subsidiary of Procter & Gamble, said Wednesday it has launched the newest addition to its product lineup -- Pampers Baby-Dry Pants -- a baby diaper designed to provide improved absorbency. The company said that the Pampers Baby-Dry Pants diapers stand out for superior absorption capacity, ensuring a moisture-free and comfortable wear for babies throughout the day. A key feature of the diaper product is the "Pee-Lock Technology,” which incorporates dual lea
Jan. 10, 2024
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Orion, nurse team up to provide snacks to kid patients
Orion, a South Korean confectionery manufacturer, has restarted production for a snack item that was no longer on the market, out of consideration for pediatric patients craving the product. On Dec. 15, the snack company donated its snack products to the young patients at Pusan National University Yangsan Hospital in South Gyeongsang Province. Among the child patients was a 3-year-old boy who had expressed a sincere desire to eat Orion's snack products after three days of fasting in prepa
Jan. 9, 2024
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Fila Holdings names first global brand president
South Korean-owned sportswear brand Fila Holdings said Monday it has named Todd Klein, head of the company’s North American subsidiary, for a new position in charge of the global marketing strategy. Appointed as the global brand president, Klein will join the board of Fila Luxembourg, the subsidiary of Fila Holdings that oversees the company’s global businesses. Klein will also continue to report to Fila Holdings and keep his previous responsibilities. Klein joined Fila in January 20
Jan. 8, 2024
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LG Chem to transfer obesity drug rights to Boston-based Rhythm in $305m deal
LG Chem said Friday it has signed an agreement with Boston-based Rhythm Pharmaceuticals to transfer the development and sales rights of a new anti-obesity drug candidate named LB54640. The deal amounts to $305 million, which includes upfront payments worth $100 million and milestone payments worth $205 million for the development and commercialization of the drug. Under the agreement, LG Chem will receive royalties depending on product sales from Rhythm Pharmaceuticals each year. Rare forms of o
Jan. 5, 2024
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[Photo News] Pups and cups
Starbucks Korea said Thursday that it will open Friday a new branch in Guri-si, northeast of Seoul, where visitors will be allowed to bring their pets -- the first of its kind operated by a coffee franchise here. The two-story building is 644.6 square meters with a total of 143 seats. Customers can take their pets to the second floor where private booths and pet seating are prepared. Pets must be on a leash and are not allowed on the first floor where beverages are made. "We hope the Guri
Jan. 4, 2024
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S. Korea's auto exports to U.S. reach 1.17 mln units in Jan.-Nov.: data
South Korean automobile exports to the United States exceeded 1 million units during the January-November period, already beating its previous all-time annual record from eight years ago, industry data showed Sunday. In the first 11 months of this year, South Korea's car shipments to the U.S. reached 1,172,612 units, according to the data from the Korea Automobile & Mobility Association. The annual tally is expected to grow when counting December shipments. The 11-month total is already
Dec. 31, 2023
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Taeyoung E&C files for debt workout, government urges self-rescue efforts
The South Korean government said Thursday that it will seek to normalize the business of Taeyoung Engineering and Construction, which applied for a debt-restructuring program on the same day, under the premise of the construction firm’s intense self-rescue efforts. Earlier in the day, Taeyoung E&C, the 16th-largest builder in the country in terms of construction capacity, applied for a debt workout with its main lender, the state-owned Korea Development Bank. The company has been suffe
Dec. 28, 2023
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Bank Shinhan Indonesia secures $200m funding from IFC
South Korea's Shinhan Bank said Friday its Indonesian unit, Bank Shinhan Indonesia, has won a $200 million investment from the International Finance Corp. The funding is a result of a memorandum of understanding signed between Shinhan Financial Group and the IFC in May, aiming to expand cooperation in global expansion and environmental, social and governance drives. Initially, the IFC will provide $100 million, followed by an additional $100 million financing within a year. Bank Shinhan Ind
Dec. 22, 2023
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Business sentiment for January falls over sluggish economy, high interest rates: poll
South Korea's business sentiment index for January fell amid prolonged concerns over a slowdown of the global economy and high interest rates, a poll showed Wednesday. The business survey index for 372 out of the country's top 600 companies by sales stood at 91.1 for January, down 2.9 points from this month, according to the monthly poll by the Federation of Korean Industries. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposit
Dec. 20, 2023
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Coupang to buy British online retailer Farfetch
South Korean e-commerce giant Coupang announced Tuesday it plans to acquire the British luxury online platform Farfetch, in a bid to strengthen its competitiveness in the fashion and luxury industry. Coupang will inject $500 million into the London-based retailer that sells high-end fashion and jewelry from more than 1,400 luxury brands. The funding will give a boost to Farfetch, which has struggled with weak sales amid an economic slowdown. By combining its logistics know-how with Farfetch'
Dec. 19, 2023
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LG Display eyes 1.36 tln-won rights issue to hone OLED competitiveness
South Korean panel titan LG Display Co. said Monday that it will raise 1.36 trillion won (US$1.05 billion) via a rights offering in an effort to boost the competitiveness of its premium organic light-emitting diode (OLED) panel business. LG Display will issue some 142 million new common shares at a price of 9,550 won per share and sell them to its shareholders, the company said in a regulatory filing. The final issue price will be determined on Feb. 29 next year after two estimation processes. P
Dec. 18, 2023
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MBK ups ante in Hankook bid
Seoul-based private equity firm MBK Partners is gearing up for a second round in a battle for control of Hankook & Co., the holding company behind Korea's largest tire maker, Hankook Tire & Technology. On Friday, MBK said through Ventura, a special purpose company set up for the bid, that it has raised its offer for the public tender for Hankook & Co., from 20,000 won ($15.34) to 24,000 won per share. "This would be the first and last price raise," MBK said in a statem
Dec. 17, 2023