Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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NewJeans’ Hanni to attend National Assembly audit as witness
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Hanmi heirs may seek to repair with family first
The management conflict within the founding family of Hanmi Pharmaceutical Group ended, as the sons of founder Lim Sung-ki -- Lim Jong-yoon and Lim Jong-hoon -- secured a majority within Hanmi Science’s board at the general meeting of shareholders last week. However, there are still multiple hurdles for the Lim brothers to get the country’s leading pharmaceuticals company back on track. According to industry sources Sunday, the Lim brothers are likely to attempt to repair the relatio
March 31, 2024
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Mirae Asset chief’s dividend donations reach W31.5b
Mirae Asset Financial Group founder and Chairman Park Hyeon-joo is donating 1.6 billion won ($1.2 million) he earned from dividends last year, marking the 14th straight year of his philanthropic tradition. On Sunday, the company disclosed that Park will endow his entire dividend income from Mirae Asset Global Investments. Continuing the practice since 2010, Park's cumulative donations now reach 31.5 billion won. The group traces Park's charitable journey back to 2008 when he penned a l
March 31, 2024
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Korean fashion brands go global with Hyundai’s new platform
South Korean retail giant Hyundai Department Store announced Sunday the debut of The Hyundai Global, a pioneering platform designed to establish the nation’s homegrown fashion and entertainment brands in prominent international retail spaces. The new platform will offer a strategic pathway for small to medium-sized Korean brands to enter global markets without the usual financial strains associated with international expansion. By substantially reducing costs related to space leasing, inte
March 31, 2024
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Kolmar Korea makes R&D push for bigger footing globally
The global rise in popularity of K-beauty brands has brought attention to Kolmar Korea, a leading cosmetics original design manufacturer that has secured a whopping 70 percent market share in the sun care sector alone here. According to the company Sunday, its “Fitting SPF Boosting” technology has been integrated into multiple sun care items sold at home and abroad. More recently, the products are selling hot in the US through major distribution channels, including Amazon. The Fittin
March 31, 2024
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Hyosung honorary chair dies at 89
Hyosung Group Honorary Chair Cho Suck-rai, the father of incumbent Chair Cho Hyun-joon, died of a chronic disease at the age of 89, according to industry sources Friday. It has been seven years since he stepped down from his top management post in 2017 due to his advanced age and health. Born as the eldest son of Hyosung founder Cho Hong-jai in 1935, Cho Suck-rai pursued his academic interests in chemistry at Japan's Waseda University and earned a master's degree in chemical engineerin
March 29, 2024
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Daughter of late Samsung chairman becomes Samsung C&T president
Lee Seo-hyun, the second daughter of late Samsung Group Chairman Lee Kun-hee and the younger sister of Samsung Electronics Chairman Lee Jae-yong, is returning to the management as she takes the post of president at Samsung C&T. Samsung C&T, the construction and energy arm of Samsung Group that acts as a holding company for major affiliates of the group, said Friday that it named Lee as the president, who is in charge of the company’s strategy planning. “She is expected to con
March 29, 2024
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Banks rush to cough up misselling compensation
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would carry out the compensation procedure, accepting the voluntary-basis plan suggested
March 29, 2024
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Baemin pays out W400b in dividends to Delivery Hero
South Korea’s leading food delivery app Baedal Minjok, or Baemin, posted a 65 percent growth in operating profit last year, achieving a significant surplus for the second consecutive year. As a result, its German parent company, Delivery Hero, received some 412.7 billion won ($306 million) in dividends for the first time since acquiring Baemin. Baemin's app operator Woowa Brothers announced Friday that its consolidated sales reached 3.41 trillion won last year, marking a 15.9 percent
March 29, 2024
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[Investor] Korea M&A Exchange secures investment from Japan
Korea M&A Exchange, Korea's premier M&A trading platform, has successfully secured a 500 million yen ($3.35 million) investment from Nihon M&A Center, Japan's leading M&A trading platform. A ceremony to mark the agreement between Korea M&A Exchange and Nihon M&A Center was held Thursday at Korea M&A Exchange headquarters in Yeouido, Seoul. As part of the agreement, Nihon M&A Center will acquire approximately 10 percent of Korea M&A Exchange's sh
March 29, 2024
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City Oil Field to export oil coverted from waste plastic to Vietnam
South Korean environmental and energy solution provider City Oil Field, said Friday it signed a contract to supply decomposition oil derived from waste plastic to Vietnam’s Nam Anh Joint Stock Company. City Oil Field CEO Jeong Yeong-hun and Nam Anh JSC CEO Van Vien Thong signed the purchase agreement at the Vietnam firm’s headquarters in Ho Chi Minh, Thursday. Under the contract, City Oil Field will supply plastic waste derived oil including naphtha produced from its facilities in So
March 29, 2024
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Hana Financial teams up with Credit Agricole to expand presence in Europe
Hana Financial Group, one of South Korea's top four finance conglomerates, has joined hands with Credit Agricole Corporate and Investment Bank to strengthen cooperation in expanding its business in Europe, the firm said Friday. The two entities have signed an agreement to expand cooperation in corporate and investment banking, treasury and trade finance, and financing for environment, social and governance-related initiatives. Hana Financial Group Vice Chair Lee Eun-Hyung, Xavier Musca, the
March 29, 2024
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Dongwon Group heir promoted to chair
Dongwon Group Vice Chairman Kim Nam-jung, second son of the group's founder and honorary chairman Kim Jae-chul, was promoted to chairman at the group's board meeting held Thursday. Kim’s promotion fills the position which had been vacant for five years since the retirement of the honorary chairman in 2019. "We will inherit the achievements and management philosophy of honorary chairman Kim Jae-chul, who has led the Dongwon Group for the past 50 years, and discover future g
March 29, 2024
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Samsung opens AI TV experience zone in Singapore Changi Airport
Samsung Electronics said Friday it has opened a new TV experience zone in Singapore's Jewel Changi Airport -- the lush entertainment and retail complex connecting Changi Airport's terminals 1, 2 and 3 -- to introduce its latest products. The tech giant will display there its newest products, including the 2024 Neo QLED 8K TV, equipped with a third-generation artificial intelligence 8K processor, and OLED TVs that preserve color accuracy and reduce reflections while maintaining image sh
March 29, 2024
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Hanmi-OCI merger called off
The expected merger between OCI Group and Hanmi Group has been called off after a general meeting of shareholders at Hanmi Science, the holding company of Korea's leading drug firm Hanmi Pharmaceutical, on Thursday. The management conflict within the founding family has also temporarily ended as Lim Jong-yoon and Lim Jong-hoon, the first and second sons of founder Lim Sung-ki, secured enough seats on Hanmi Science’s board to stop the merger. "(OCI) humbly accepts shareholders
March 28, 2024
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Korea’s CMO ramp-up lures biotech investors
South Korea’s growing biopharmaceutical production capacity is increasingly making the country an attractive investment destination for global life science companies, industry sources said Thursday. Since 2016, global pharmaceutical and biotech firms started building their research and development centers and production facilities in Korea, especially within the Songdo Bio Cluster in Incheon, where the biopharmaceutical production capacity has reached 1.2 million liters, the world’s
March 28, 2024
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Bang Kyung-man named as KT&G's new CEO
KT&G's Senior Executive Vice President Bang Kyung-man has cleared the final hurdle to become the company's CEO by winning shareholders approval Thursday, marking the cigarette maker's first leadership change in nine years. The decision was made at the company’s 37th annual general meeting of shareholders, held at KT&G Human Resources Development Center in Daejeon. “I am deeply grateful to the shareholders for entrusting me with the honorable opportunity to serv
March 28, 2024
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SKT marks 40th anniversary with new emblem
Marking the 40th anniversary of its founding, SK Telecom, South Korea's largest wireless carrier by the number of accounts, promised to transform into a global artificial intelligence company, Thursday. The mobile carrier, first established in March 1984 under the name, Korea Mobile Telecommunication Services Corp., celebrates its 40th anniversary on Friday. "SKT's 40 years of achievements were made possible by its unique DNA of overcoming challenging situations and creating a his
March 28, 2024
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Posco Future M named in Fortune's top 30 Asian innovators
Korean battery material and chemical company Posco Future M has been recognized by Fortune Asia as one of the top 30 most innovative companies in Asia, set to drive future growth, the company said on Thursday. The 2024 Fortune Asia Future 30 award was presented at the Fortune Innovation Forum in Hong Kong on Wednesday. Posco Future M's progress from traditional industrial materials to leading-edge sectors like cathode material production has been marked by significant achievements, includin
March 28, 2024
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[KH Explains] How CJ Olive Young became rare success story in beauty retail
CJ Group's health and beauty drugstore CJ Olive Young is making significant strides in leading the cosmetics market both domestically and internationally. Just last week, during MLB's World Tour: Seoul series, a photo capturing MLB players' families posing in front of an Olive Young store surfaced online, generating a social media buzz. The image once again showed Olive Young's position as a go-to destination for purchasing Korean beauty products while visiting Korea, cementi
March 28, 2024
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[Photo News] LG Twin Towers refurbished
LG Group said Thursday it has completed the renovation of its Twin Towers headquarters in Yeouido, western Seoul -- the first refurbishment since the building was completed in 1987. The lobby, arcade and floor space of the lower part of the buildings have been revamped to reflect employee opinions under the theme of “Connection.” LG said the most popular new feature is the upgraded fitness center. (LG Group)
March 28, 2024