Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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OpenAI in talks with Samsung to power AI features, report says
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Two jailed for forcing disabled teens into prostitution
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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South Korean military plans to launch new division for future warfare
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Kia EV9 GT marks world debut at LA Motor Show
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Teen smoking, drinking decline, while mental health, dietary habits worsen
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Hyundai Motor edges closer to global No. 2 carmaker in profit
Hyundai Motor Group has outpaced Volkswagen Group in the third-quarter profit, edging closer to claiming the world’s second-largest carmaker title this year for the first time. From June to September, Hyundai Motor Company, Kia and Genesis posted 69.4 trillion won ($49.7 billion) in sales revenue and 6.5 trillion won in operating profit. Volkswagen Group reported higher sales of 78.5 billion euros ($84.2 billion), but it fell behind in profit with 2.9 billion euros. This marks a significan
Nov. 7, 2024
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Coupang founder to sell $360m of stock
Coupang founder and CEO Bom Kim announced on Thursday plans to sell 15 million shares valued at some $360 million — his first sale since Coupang’s New York Stock Exchange debut on March 15, 2021. He also plans to donate an additional 2 million shares to charity. Kim currently owns 174,802,990 Class B shares and the shares he plans to sell represent almost 9.7 percent of the total holding. The Class B shares, exclusively owned by Kim, have 29 times the voting power of regular shares.
Nov. 7, 2024
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India’s vibrant economy ready to lure Korean investors, says ambassador
Deeper economic and commercial ties between India and South Korea could pave the way for mutual growth, India’s ambassador to South Korea said, highlighting the potential of India’s young, expanding consumer base and robust annual growth rate. “India’s economy continues to demonstrate resilience and growth, driven by forward-looking government policies,” India’s Ambassador to South Korea Amit Kumar said in his opening remarks at the Global Business Forum hoste
Nov. 7, 2024
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Tata Daewoo rebranded for EV shift
GUNSAN -- Tata Daewoo Commercial Vehicle Company, a well-established name in commercial trucks often seen on construction sites and in logistics operations across the globe, has rebranded itself as Tata Daewoo Mobility. Joining a broader industry trend, Tata Daewoo’s rebranding as a "mobility" company reflects its new mission to lead in eco-friendly transport through the development of electric and hybrid vehicles. During the 30th anniversary ceremony held at its headquarters in
Nov. 7, 2024
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LG Uplus eyes W3tr investment in AI by 2028
LG Uplus CEO Hwang Hyeon-sik said Thursday the company would invest up to 3 trillion won ($2.15 billion) in the telecom carrier's artificial intelligence business over the next four years. The announcement came as the CEO introduced the company's AI transformation strategy during a press briefing in Seoul. Hwang highlighted that the key behind the telecom carrier's AX strategy is customer-centered thinking and AI orchestration. “To grow as an AX company, it’s essenti
Nov. 7, 2024
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aT wins top consumer award for cost reductions, price transparency
The Korea Agro-Fisheries & Food Trade Corp., known as aT, announced on Thursday that it has been recognized by the Korea Consumer Association for its excellence in consumer-friendly administration. aT, a government agency responsible for promoting the trade, export and marketing of Korean foods and beverages worldwide, received this year's Korea Consumer Award for its initiatives aimed at reducing costs for consumers. These initiatives include a discount program for domestically produce
Nov. 7, 2024
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Lotte Biologics runs internship program open to all
South Korean contract development and manufacturing organization Lotte Biologics said Thursday that it offers job opportunities without specific qualification requirements in its year-round internship program. The Open Innovation Internship is open to anyone, regardless of gender, nationality, age, educational background or career history. The internship duration can be tailored to suit the needs of both the company and the participants. When Lotte Biologic needs new interns, it reviews profiles
Nov. 7, 2024
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[Photo News] 80 years of Kia
An exhibition reflecting on Kia's 80-year heritage, "From Moments to Movement" kicked off Thursday at its brand store in southern Seoul. The exhibition features iconic Kia historical car models, including the Sportage sport utility vehicle and Pride compact vehicle, alongside its latest innovations like the EV9 and EV3 electric vehicles. (Kia)
Nov. 7, 2024
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Seoul shares open weak after Trump's victory
South Korean stocks opened lower Thursday on concerns over a shift in US trade and economic policies following former US President Donald Trump's comeback. The benchmark Korea Composite Stock Price Index lost 8.27 points, or 0.32 percent, to 2,555.24 in the first 15 minutes of trading. Overnight, major US indexes closed at record highs after Trump won the 2024 US presidential election as investors expected lower taxes and deregulation. The Dow Jones Industrial Average jumped 3.5 percent, an
Nov. 7, 2024
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S. Korea logs current account surplus for 5th month in September
South Korea racked up a current account surplus for the fifth consecutive month in September, driven by robust exports, central bank data showed Thursday. The country's current account surplus reached $11.12 billion in September, marking a surplus for the fifth consecutive month following a $6.5 billion surplus in August, according to data compiled by the Bank of Korea. The country's goods account racked up a $10.67 billion surplus in September following a $6.52 billion surplus the mon
Nov. 7, 2024
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South Korean trade authorities prepare trade shifts after Trump's victory
South Korean trade authorities on Wednesday began discussing strategies in response to potential US trade policies under Donald Trump's second term as president. The Ministry of Trade, Industry and Energy said it convened an emergency meeting to review potential policy responses centered around Trump's campaign pledges. The ministry has been closely monitoring and analyzing the possible impacts of the US election outcome on major industries, including semiconductors, automobiles, batte
Nov. 6, 2024
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South Korean won tumbles after Trump wins US presidential election
The South Korean currency fell sharply against the US dollar during intra-day trading Wednesday after Donald Trump won the US presidential election. The South Korean won was trading at 1,400.5 won to the dollar as of 8:20 p.m., marking the first time to surpass the 1,400 won threshold since April 16. The won opened at 1,374 won at 9 a.m., up 4.6 won from the previous session. But the won-dollar rate reversed course in the morning, with the US dollar strengthening on news that Trump held an advan
Nov. 6, 2024
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South Korean biz community hopes for stronger Korea-US cooperation
South Korea's major business organizations on Wednesday joined in congratulating Donald Trump on his victory in the US presidential election, urging him to strengthen Seoul-Washington cooperation. The Korean Chamber of Commerce and Industry congratulated Trump on his election victory, emphasizing that the Korea-US trade and economic partnership is anchored in a strong security alliance. The KCCI expressed hope for continued bilateral relations under the incoming Trump administration, adding
Nov. 6, 2024
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South Korean industries likely to revisit US investment plans after Trump win
With former US President Donald Trump's successful reelection to the White House, South Korean industries with major investments in America may be expected to realign their US business strategies amid an anticipated shift in Washington's economic and trade policies. Many in the South Korean business community forecast a second Trump administration to pursue strong protectionist trade policies centered on American interests. In particular, industries here are closely watching the poss
Nov. 6, 2024
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LG wins top patent award for AR navigation tech
LG Electronics received the top recognition from the country’s patent agency for its advanced vehicle augmented reality technology used to guide drivers on complex and unfamiliar roads on Wednesday. At this year’s Patent Technology Awards hosted by the Korean Intellectual Property Office, LG Electronics has been chosen as the winner of the grand prize, the King Sejong Award, for its patent on vehicle AR-based navigation. “We expect our AR solutions will innovate driving experie
Nov. 6, 2024
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Celebrity chef Paik's franchise company soars in market debut
Celebrity chef Paik Jong-won’s franchise company Theborn Korea made a strong debut on the Kospi market Wednesday as investors endorsed his affordable food brands and his popularity grew globally, with a recent Netflix series giving further tailwind to his business. Theborn Korea saw its shares traded as high as 58,100 won ($41.60) at the market open — a 70.9 percent jump compared to the 34,000 won the stock was priced at earlier in the week. That gave the company a valuation of aroun
Nov. 6, 2024
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Increased bets on Trump victory send won to 2-yr low, Seoul stocks down for 2nd day
The South Korean won dipped to a two-year low against the US dollar Wednesday on increased bets on Republican nominee Donald Trump's victory in the US presidential election. Korean stocks ended lower for the second consecutive day. The local currency was trading at 1,396.2 won against the greenback at 3:30 p.m., down 17.6 won from the previous session, the lowest since November 7, 2022, when the rate closed at 1,401.20. Investors rushed to buy US dollars as Trump's victory heralds an i
Nov. 6, 2024
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EcoPro HN completes battery materials plant
EcoPro HN, the environmental solutions provider under EcoPro, said Wednesday it has completed the construction of a new manufacturing plant for rechargeable battery materials in Chopyeong, North Chungcheong Province. Around 100 officials, including key executives -- former EcoPro Chairman Lee Dong-chae, EcoPro CEO Song Ho-jun, EcoPro HN CEO Kim Jong-seop and Jincheon County Governor Song Ki-seop -- participated in the completion ceremony at the newly-built facility earlier in the day. The manufa
Nov. 6, 2024
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Coupang hits record quarterly sales on customer loyalty
New York-listed e-commerce giant Coupang set another quarterly record in the July-September period of this year on enhanced user engagement, with its revenue reaching $7.86 billion, a 32 percent jump from a year ago. The company also returned to profitability in the quarter after posting operating losses in the previous quarter largely from the UK luxury shopping platform Farfetch it acquired last year and antitrust fines in Korea. "The improvements we saw this quarter are most notably driv
Nov. 6, 2024
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Kumyang works to win back investor trust
South Korean battery-maker Kumyang unveiled the world’s first 4695 cylindrical battery cell, which the company claimed to have greater capacity than Tesla's 4680 battery, at InterBattery 2024 at Coex in Seoul in March this year. Oxford Metrica, a UK-based global advisory firm, recently analyzed that 600 Kumyang 4695 cells can generate 75 kilowatt-hours of energy to offer about 600 kilometers in driving distance, whereas the same number of Tesla 4680 cells would create about 52 kWh to
Nov. 6, 2024