Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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DP leader says he will meet Yoon without conditions
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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GNT Pharma partners with Pfizer for animal drug development
GNT Pharma said Monday that the company has signed an agreement with Pfizer's contract manufacturing arm for overseas production of the company’s veterinary medication GedaCure. Under the recent agreement, Pfizer CentreOne, which has production facilities in around 30 countries, will provide GNT Pharma with CDMO services in the countries, including the US and Europe, where GNT Pharma launches GedaCure. GedaCure is a chewable tablet of crisdesalazine and the world’s first multi-t
Feb. 5, 2024
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Hahn & Co. makes offer to buy SsangYong C&E stakes
Hahn & Co., the nation's largest private equity firm based on assets under management, launched a bid on Monday to take full ownership of cement producer SsangYong C&E, offering over 700 billion won ($525 million) for the shares it does not hold. Hahn & Co. will offer 7,000 won per share for the cement producer to secure an additional 20.1 percent stake in the company, spending 701.8 billion won, according to an announcement made through regulatory filings from its special purpo
Feb. 5, 2024
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CJ’s Miky Lee wins Abu Dhabi Festival Award
ABU DHABI -- Miky Lee, vice chair of CJ Group and its entertainment and media subsidiary CJ ENM, has won this year’s Abu Dhabi Festival Award, a top honor offered to individuals in recognition of their outstanding contributions to culture and the arts. The Abu Dhabi Music & Arts Foundation held the award ceremony in the UAE capital Saturday. Lee attended the event in person to receive the award. The annual award, inaugurated in 2012 by the foundation in association with the Swiss luxur
Feb. 5, 2024
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Court set to rule on Samsung chief in controversial 2015 merger case
A Seoul court is set to deliver its ruling on Samsung Electronics Co. Chairman Lee Jae-yong on Monday on charges of stock price rigging and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates. The Seoul Central District Court is scheduled to hold a sentencing hearing at 2 p.m. on Lee, three years and five months after the Samsung chief was indicted in connection with the merger of Cheil Industries Inc. and Samsung C&T Corp. Lee was charged with stock price r
Feb. 5, 2024
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HD Korea Shipbuilding attains one-third of yearly order goal
HD Korea Shipbuilding & Offshore Engineering Co., the world's top shipyard, has already achieved nearly one-third of its yearly order target on brisk demand for green vessels, industry sources said Monday. So far this year, the shipbuilder has clinched $4.65 billion worth of orders to construct 38 ships, or 34.4 percent of its yearly target of $13.5 billion, according to the sources. In light of the faster-than-expected pace, HD Korea Shipbuilding, a subholding company of shipbuilding,
Feb. 5, 2024
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[Photo News] Hanwha in Saudi
Hanwha Group's defense affiliates -- Hanwha Aerospace, Hanwha Systems and Hanwha Ocean -- are showcasing their latest weapons systems at the World Defense Show 2024 held in Riyadh, Saudi Arabia, from Sunday to Thursday. Displaying the defense solutions covering the air, land and ocean such as an advanced engine for a fighter jet, K9 howitzer and submarine technology, Hanwha said it will look to explore partnerships in the Middle East. (Hanwha Aerospace)
Feb. 4, 2024
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Court to rule on Samsung chief's alleged 2015 merger fraud
A Seoul district court is set to deliver a decisive ruling on Monday for Samsung Electronics Chairman Lee Jae-yong over the 2015 merger fraud case, under which he could face a prison term. The Seoul Central District Court will issue its decision on Lee, along with 14 current and former employees of Samsung, on charges of rigging company valuations and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates -- Cheil Industries and Samsung C&T Corp. The final ruli
Feb. 4, 2024
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[Photo News] IBK chairman starts second year at helm
Industrial Bank of Korea Chairman and CEO Kim Sung-tae convened a meeting with top executives from the bank's subsidiaries and branches at the IBK training center in Chungju, North Chungcheong Province, on Friday, marking the start of his second year in office. Emphasizing the bank's pivotal role in "driving Korea's economic growth by leveraging policy financing for small and medium-sized enterprises," Kim underscored the importance of boosting support for small business
Feb. 4, 2024
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Posco International to invest W1tr in energy sector expansion
Posco International, the trading arm of Posco Group, is poised to invest 1 trillion won ($755 million) exclusively in the energy sector this year, paving the way to establish itself as a globally recognized eco-friendly conglomerate in its key business area. The company outlined its business plans Tuesday, emphasizing "global expansion" as its mantra for 2024 to strategically bolster its major business value chain. Specific plans include a threefold increase in natural gas production a
Feb. 2, 2024
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Hahn & Co. completes aquisition of SKC’s fine ceramics biz for W360b
Hahn & Co., the nation's largest private equity firm based on assets under management, announced Friday that it has acquired 100 percent stake in SKC's fine ceramics business for 360 billion won ($270 million). SKC operates as the semiconductor material arm under SK Group, the country's second-largest conglomerate. The acquisition comes three months after the contract was signed in late October. Under Hahn & Co.’s ownership, the company will operate with a new name
Feb. 2, 2024
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Toss kicks off IPO process, eyes 2025 listing
Viva Republica, the operator of financial technology app Toss, has kicked off procedures for an initial public offering, having selected lead underwriters. Securities firms estimate that the company's valuation could reach up to 20 trillion won ($15.1 billion). Viva Republica selected crosstown rivals in the local IPO market -- Korea Investment & Securities and Mirae Asset Securities -- as the lead underwriters, according to industry sources Friday. The securities firms have reportedly
Feb. 2, 2024
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Govt. to grow K-food industry to W300tr by 2027
The South Korean government aims to propel the K-food industry to reach 300 trillion won ($227 billion) worldwide by 2027, responding to the burgeoning global appetite for Korean cuisine. The vision was announced by the Ministry of Agriculture, Food and Rural Affairs, during an emergency economic ministers meeting Friday. The target signifies a doubling from the 2021 figure of 152 trillion won, with the number of overseas Korean restaurants set to increase to 15,000 globally, up from 9,923 in 20
Feb. 2, 2024
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Mastern to support local medical device maker expand US presence
Mastern America, the US subsidiary of local asset manager Mastern Investment Management, has joined hands with Hironic, a Korean medical device company, to expand its presence in the US market. Mastern America announced Friday that it has forged a four-party memorandum of understanding with Hironic, the city of Taylor, Texas, and the Taylor Economic Development Corp. A signing ceremony was held in Seoul on Wednesday, with Mastern America CEO Joseph Oh, Hironic CEO Lee Sang-won, Taylor Mayor Bran
Feb. 2, 2024
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Starbucks Korea's NFT initiative saves 600,000 disposable cups
Starbucks Korea announced on Thursday that its recent NFT eco-project, designed to promote reusable cup adoption, has led to saving approximately 600,000 disposable cups from use over a two-week period from Jan. 16. The NFT eco-project at Starbucks Korea is the first of its kind in Asia and encourages Starbucks Rewards members to use personal cups when placing orders through the Starbucks app. Once individuals earn eco-stamps, with a limit of three per day, they can be exchanged for Starbucks NF
Feb. 2, 2024
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Will cheaper foldable phones become a reality?
Samsung Electronics, a pioneer in foldable smartphones, is ramping up efforts to expand the still-nascent and high-priced segment, fueling speculation that the tech giant could come out with cheaper versions with mass-market appeal as soon as this year. A recent news report said Samsung is expected to launch two models for the upcoming Galaxy Z Fold6 later this year, including a cheaper one without the pricey S-Pen stylus. Foldable displays are priced higher to support the scribble function on t
Feb. 1, 2024
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BAT names new Korean chief
BAT Rothmans, the Korean unit of British American Tobacco, announced Thursday that the company has appointed Song Young-jae, a BAT veteran, as its new country manager. The company said Song is a marketing and finance expert who will be tasked with promoting BAT’s combustible products. “Song is an expert in the global tobacco industry and the right person to spearhead the company’s future innovation,” an official from BAT Rothmans said. Graduated from the London School of
Feb. 1, 2024
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Kakao Healthcare plans to debut diabetes app in Japan
Kakao Healthcare, the digital health care unit under platform giant Kakao, on Thursday launched an artificial intelligence-based mobile blood sugar management service, PASTA, in Korea, hinting at plans for its overseas debuts in Japan and other countries. “Health care costs attributable to diabetes are increasing every year, and we aim to help reduce the costs through our new service," Kakao Healthcare CEO Hwang Hee said during a press conference at the company’s headquarters in
Feb. 1, 2024
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EcoPro bolsters North American battery recycling business
EcoPro, a South Korean battery materials manufacturer, has joined hands with US battery recycling firm Cirba Solutions to ramp up its lithium-ion battery recycling business in North America. According to EcoPro on Thursday, the two sides recently signed a memorandum of understanding to cooperate to deal with Washington’s Inflation Reduction Act and expand the global supply chain of electric vehicle batteries. In the EV battery sector, the IRA incentivizes domestic manufacturing and require
Feb. 1, 2024
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Posco’s six chairman candidates unveiled
Posco Holdings has confirmed a total of six finalists to compete for the Korean steel giant's top post, as the current Chairman Choi Jeong-woo’s official term is due to expire in March. On Wednesday, the company's CEO Recommendation Committee unveiled the six chairman candidates, including three Posco veterans and three outsiders, after their eight meetings over the past few weeks. The committee has been reviewing the finalists since Dec. 21 after Chairman Choi chose not to seek
Feb. 1, 2024
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Stage X picked as new operator of 5th-generation network
A local consortium was selected as the new operator of the 28 gigahertz band of the fifth-generation network in South Korea on Wednesday, the science ministry said, becoming the country's fourth mobile carrier. Stage X, a consortium of Stage Five, a communications affiliate of tech giant Kakao Corp., and other unidentified companies, will be the fourth operator of the 5G network. Currently, three major mobile carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- are the country's
Jan. 31, 2024