Braun razor popular gift option for young men

P&G Korea on Thursday suggested Braun’s Series 7 razor as a thoughtful gift option for young men approaching adulthood, citing a recent survey that high school students who finished college entrance exams prefer practical gifts rather than traditional sweets. Designed to deliver a personalized shaving experience, the German brand’s Series 7 razor features a flexible 360-degree head that adapts to facial contours, allowing young adults to easily maneuver over challenging areas lik

TechnologyNov. 14, 2024

[Photo News] Next-gen logistics

Hanjin Logistics Corp. President and Chief Marketing Officer Emily Cho introduces the company's new smart logistics technologies, including drone inventory management and smart glasses for workers, at the Hanjin Southern Seoul Integrated Logistics Center in Seoul on Wednesday. By leveraging these smart devices, Hanjin said it aims to increase logistics efficiency, strengthen customer data security and lead innovation in logistics management. (Hanjin Logistics Corp.)

IndustryNov. 14, 2024

LG Energy Solution to supply ESS for US Terra-Gen

LG Energy Solution has secured a contract to supply up to 8 gigawatt-hour energy storage systems to US renewable energy firm Terra-Gen, the Korean battery-maker announced Thursday. Under the deal, LG Energy Solution Vertech will deliver the ESS to Terra-Gen from 2026 to 2029. The Korean battery maker acquired NEC Energy Solutions, a grid battery integrator based in the US, in 2022 and renamed it LG Energy Solution Vertech. The deal marked the biggest supply contract since the launch of LG Energy

CompaniesNov. 14, 2024

[Photo News] Hungarian SK Road

An SK Road sign is posted in Ivancsa, a Hungarian industrial village, in recognition of Korena battery-maker SK On's economic contributions to the region. The newly designated road stretches approximately 1.8 kilometers, connecting the Ivancsa industrial park to SK On’s electric vehicle battery manufacturing plant. SK On has also donated 15 million forints ($39,000) to local communities to help improve the urban environment, upgrade school facilities, revitalize local events and provi

MobilityNov. 14, 2024

CJ's new cold chain logistics center opens in Georgia

CJ Logistics, South Korea’s largest logistics firm, announced Thursday that it has commenced operations of its new cold chain logistics center in Gainesville, Georgia. The facility spans 24,904 square meters, with 90 percent dedicated to cold chain logistics and the remaining 10 percent allocated for ambient storage. The center can adjust the temperature in accordance with each product’s storage requirements. The center features a blast-freezing system that rapidly lowers product tem

IndustryNov. 14, 2024

S. Korea's fiscal deficit further widens through Sept.

South Korea's fiscal deficit grew markedly during the first nine months of 2024, the finance ministry said Thursday, partly due to increased expenditure. The managed fiscal balance, a key gauge of fiscal health calculated on stricter terms, posted a deficit of 91.5 trillion won ($65.1 billion) in the January-September period, up 20.9 trillion won from the same period last year, according to the finance ministry. This year's tally was the third-largest figure for the cited period, the m

EconomyNov. 14, 2024

Finance minister says gov't to actively respond to excessive volatility in FX market

Finance Minister Choi Sang-mok said Thursday the government will take active steps, if necessary, to address excessive volatility in the foreign exchange (FX) market. Since Donald Trump's victory in the US presidential election last week, the local currency has been fluctuating around the psychologically significant level of 1,400 won against the US dollar. In a meeting with other economic policymakers in Seoul, Choi said that if there is excessive volatility in the financial and FX markets

EconomyNov. 14, 2024

Solidigm launches industry's largest capacity eSSD for AI data centers

Solidigm, an SK hynix-affiliated NAND flash memory solutions provider, said Wednesday it is launching a new enterprise solid-state drive boasting the industry's largest capacity of 122 terabytes for AI data centers. According to the memory chip maker, the new eSSD solution D5-P5336 has been developed based on its quadruple-level cell technology, storing four times more data than conventional eSSDs. "We were the first chip firm to commercialize the QLC-based high-capacity SSDs, supplyin

IndustryNov. 13, 2024

Korea Zinc pulls back on capital increase scheme

Korea Zinc Chairman Choi Yun-beom on Wednesday apologized to the public, canceling the company’s hastily-made capital increase plan that sent its shares on a roller-coaster ride in recent weeks. “Though the capital raise was planned to strengthen a more diverse and independent shareholder base consisting of general investors, I offer my sincere apology as the plan, drawn up in urgent and desperate circumstances, was inconsiderate of existing shareholders,” Choi said at a press

IndustryNov. 13, 2024

[Contribution] Investment diary of a CIO’s son

By Steve Brice My youngest son is starting out on his investment journey. As background, he has been gifted some money, which he wants to invest for at least 7-10 years. He is not interested in finance, although he is interested in making money. He is about to go to university in February and expects to be busy. Therefore, he wants to have an investment plan which he does not have to monitor excessively. He is obviously worried about investing at exactly the wrong time, as is common with most

IndustryNov. 13, 2024

Samsung stocks fall to 4-year low

Shares of South Korean tech behemoth Samsung Electronics sank to an over four-year low of under 51,000 won ($36.24) Wednesday, reflecting the clouds cast over the company's chip leadership in the AI era. Samsung Electronics shares on the Kospi closed trading at 50,600 won on Wednesday, dropping by 2,400 won or 4.53 percent from the previous trading day. Shares of the company started the day at 52,000 won but dropped to as low as 50,500 won, hitting the lowest intraday trading level since Ju

MarketNov. 13, 2024

Seoul shares crash to 1-yr low on Trump policy woes

South Korean shares fell to their lowest level in a year Wednesday, extending their losing streak to a fourth day, as investors' concerns grew over policy uncertainties under the incoming US Trump administration. The local currency also dropped against the US dollar to a two-year low, breaching 1,400 won for the second straight session as of 3:30 p.m. The benchmark Korea Composite Stock Price Index sank 65.49 points, or 2.64 percent, to close at 2,417.08, marking the lowest since Nov. 13, 2

MarketNov. 13, 2024

Renault Grand Koleos boasts 30% share in hybrid SUVs

Renault Korea’s latest hybrid sport utility vehicle Grand Koleos has seen smooth driving, claiming more than 30 percent market share in its segment as of October. Having debuted in August, the Grand Koleos E-Tech Hybrid sold 5,385 vehicles last month alone, with cumulative sales reaching 9,330. Driven by the new car's transactions, Renault's total sales more than tripled in Korea in October. Renault's upbeat sales come as Korean drivers have shown a growing appetite for hybr

MobilityNov. 13, 2024

BYD to enter Korean passenger car market early next year

BYD will officially enter the Korean passenger vehicle market early next year, the Chinese electric vehicle maker's Korean office announced Wednesday. The announcement came after months of speculation over when BYD would launch its passenger EVs in the Korean market. BYD Korea already entered the commercial vehicle market in 2016 and has released electric buses and trucks here since then. BYD Korea said it has reviewed the feasibility of a passenger vehicle business in Korea over the past f

MobilityNov. 13, 2024

Hyundai Glovis to build massive logistics center in Busan

Automotive logistics provider Hyundai Glovis is set to build a large-scale logistics complex at Busan New Port, one of the busiest container ports globally. The facility, targeted for completion by 2027, will support South Korea’s growing trade demand, the company said. Hyundai Glovis said Wednesday it had signed a land purchase agreement for nearly 95,000 square meters -- about 13 soccer fields -- in the Ungdong Distripark Phase 2, a newly developed area within Busan New Port specifically

IndustryNov. 13, 2024

Kolmar wins trade secret case against Intercos

South Korea’s leading cosmetics original design manufacturer Kolmar Korea said Wednesday it recently won a lawsuit against Intercos Korea, the Korean subsidiary of Italian cosmetic firm Intercos that was accused of transferring trade secrets of Kolmar’s sun care technology. On Oct. 18, the Suwon District Court imposed a 5 million won ($3,700) fine on Intercos Korea for violating the trade secret protection law. The ruling was finalized after the company chose not to appeal. The all

IndustryNov. 13, 2024

Will Samsung team up with foundry rival TSMC?

Samsung Electronics, the tech giant known for its independence as a manufacturer, made a surprise announcement last month hinting it may outsource a key component of its cutting-edge artificial intelligence chips to its Taiwanese rival TSMC. Experts say this comes as the world's largest memory chip maker faces mounting pressure from its global competitors in the increasingly crucial AI chip sector, a headwind that has directly contributed to Samsung's earnings slowdown. “We are c

IndustryNov. 13, 2024

Amorepacific unveils bold growth goals

South Korean cosmetics giant Amorepacific has unveiled its new global business strategy, aiming to strengthen its position as a leader in the beauty industry amid the rising influence of Korean culture. At its 2024 Investor Day event in Seoul on Tuesday, CEO Kim Seung-hwan and North America regional headquarters CEO Giovanni Valentini presented the plan to around 80 institutional investors and analysts, emphasizing growth opportunities across both advanced and emerging markets. “As Korean

CompaniesNov. 13, 2024

AmCham CEO Servers’ Night sets fundraising record

The American Chamber of Commerce in Korea announced Wednesday that it has hosted the 17th fundraising event for student scholarships together with its charity arm, Partners for the Future Foundation. The AmCham CEO Servers’ Night was held at the Conrad Seoul Hotel, bringing together 35 CEOs and C-level executives from AmCham member companies. After being trained by hotel staff, the top executives personally served wine and dinner to 430 guests to show their appreciation. “It is truly

IndustryNov. 13, 2024

S. Korea to proactively address Trump-related uncertainties, upgrade FTAs

South Korea will proactively address changes in the global trade environment ahead of the launch of the new US administration, while upgrading existing trade pacts with key partners to maintain upward momentum in exports, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy made the announcement in a report marking the start of the second half of the Yoon Suk Yeol administration, unveiling plans to sustain export growth, which has continued for 13 straight months thro

EconomyNov. 13, 2024