[Photo News] OLED canvas

LG Electronics’ exhibition booth is seen at the 2023 Digital Art Fair Hong Kong, Asia’s largest digital art trade show, being held from Thursday to Monday. The Korean tech giant is displaying some 100 OLED TVs and signage products as an official sponsor. (LG Electronics)

Oct. 22, 2023

Samsung chief bolsters ties with Japanese partners

Samsung Electronics Executive Chairman Lee Jae-yong met with a group of top executives from Japanese electronic parts vendors for their annual meeting in Seoul, which had been suspended due to the COVID-19 pandemic, according to industry sources, Sunday. The annual meeting between Samsung and its Japanese electronic parts makers is known as “Lee Kun-hee and his Japanese Friends,” or LJF for short. The meeting was established in 1993 by the executive chairman's father, the late S

Oct. 22, 2023

Paris Baguette’s 500th overseas store opens in Singapore

South Korean bakery giant SPC Group announced Sunday that the number of its overseas Paris Baguette stores has reached 500, with the latest opening in Singapore. The 500th store opened at Terminal 2 of Changi International Airport as part of the bakery chain’s expansion into Asia and the Middle East. “The group will continue its expansion in the US and China, while making a foray into the global halal food market, which has 1.9 billion potential customers representing some 24 percent

Oct. 22, 2023

[From the Scene] LS Cable's extensive undersea cable facility taps global demand

LS Cable & System, South Korea's leading cable manufacturer, showcased last Thursday its extensive line of undersea cable production facilities at its Donghae plant in Gangwon Province, aiming to more than double its yearly sales from undersea cables to 1 trillion won ($740 million) over the next five years, tapping into the global surge in demand for energy and power grids. The plant is Asia's most expansive undersea cable production base. A gangway that resembles a train track co

Oct. 22, 2023

KT, Jasmine team up for Thai AI language model

KT Corp. said Sunday it is teaming up with Thailand’s telecom giant Jasmine Group to co-develop an artificial intelligence language model specialized in Thai and to launch related services together in Southeast Asia. Following the signing of a memorandum of understanding in September last year, top executives, including KT CEO Kim Young-shub and Jasmine Group Chairman Pete Bodharamik, gathered in Seoul on Thursday to discuss more details of the partnership. Under the extensive partnership,

Oct. 22, 2023

Over 40% of manufacturers say they need more foreign workers

More than 4 in 10 manufacturing business owners here say they will need more foreign workers next year, but cited language barriers and a difficult hiring process as key concerns, a survey found Sunday. The survey was conducted by the Korea Enterprise Federation, one of the major business lobbies here, with a total of 615 small and medium-sized businesses with fewer than 300 employees, in August and September. Of the total, 36.9 percent responded in favor of expanding the E-9 visa quota -- curre

Oct. 22, 2023

Mercedes-Benz Korea ramps up efforts to nurture tech talent

Mercedes-Benz Korea has been investing heavily in training employees and young students as part of efforts to enhance customer service and technical expertise in the automotive maintenance field. Since 2007, the Korean unit of the German luxury carmaker has organized “Korea TechMasters,” a biennial technical skills competition, while also running separate automotive training programs including Ausbildung and Automotive Electric Traineeship. This year’s technical contest saw

Oct. 22, 2023

[Photo News] Staying hydrated

Dong-A Otsuka CEO Cho Ik-sung (right) and Korean Basketball League President Kim Hee-ok pose for a photo after signing a sponsorship deal at the KBL headquarters in Seoul, Thursday. The beverage maker agreed to supply professional basketball players with various drinks, including its flagship Pocari Sweat, together with iceboxes and towels, for the 2025-26 season. (Dong-A Otsuka)

Oct. 22, 2023

[Photo News] Hana hall of fame

Hana Financial Group Chairman Ham Young-joo (third from right), Vice Chairman Lee Eun-hyung (third from left), and other company officials unveil the Hall of Fame for top employees at Hana Global Campus in Cheongra, Incheon, Saturday. A total of 186 employees have been selected to honor their performance across sales, marketing and consumer satisfaction. The financial giant said the new launch aims to create a customer-first corporate culture. (Hana Financial Group)

Oct. 22, 2023

Kakao risks losing management control of Kakao Bank

Korean tech conglomerate Kakao could lose its controlling shareholder position in its internet-only bank affiliate, as its top leaders have become embroiled in stock manipulation allegations stemming from the acquisition of K-pop agency SM Entertainment. On Friday, the country’s financial watchdog Financial Supervisory Service summoned Kakao founder Kim Beom-soo to appear for questioning on Monday for an investigation into the mobile platform service provider’s possible violation of

Oct. 20, 2023

Asiana to hold board meeting to discuss sale of cargo unit

South Korean air carrier Asiana Airlines will reportedly convene a meeting of its board of directors on Oct. 30 to decide whether or not to sell its cargo business, as a part of its efforts to accelerate its merger with its bigger rival Korean Air, industry sources said Friday. In order for the sale of the company’s cargo unit to be approved, four out of six of Asiana’s directors must agree. "Nothing has been concretely confirmed in regards to the board of directors' meetin

Oct. 20, 2023

Samyang to release tom yum flavor Buldak in US

South Korean food manufacturer Samyang Foods said Friday it would launch a new tom yum flavor of its bestseller Buldak Spicy Chicken Ramen series in the US market later this year. Featuring the traditional Thai hot and sour soup, tom yum, the new export-version of Buldak targeted Asians as well as big fans of Asian food in the United States. It blended the tangy, sweet and sour flavor of Thai soup with spicy chicken noodles and also added lemongrass and cilantro to complete the iconic tom yum ta

Oct. 20, 2023

Geopolitical risks hold back South Korea's credit rating upgrade:Fitch

Fitch said that South Korea's "AA-" sovereign rating, which has remained steadfast over 10 years, could be adjusted upward if geopolitical issues such as inter-Korean relations and US-China conflicts are improved, during the 2023 Fitch on Korea seminar held in Seoul on Friday. While improved relations with North Korea are necessary for a positive rating adjustment, Fitch does not see that improvement as promising in the near term, said Jeremy Zook, Fitch's director of Asia-Pa

Oct. 20, 2023

STX issues new shares worth W80b to expand global business

South Korean trading company STX said Friday it had decided to initiate a paid-in capital increase of 80 billion won ($58 million), in a bid to finance funds for expanding its global secondary battery businesses and Trollygo, the company's new business-to-business trading platform to be launched next month. According to STX, the firm held a board of directors meeting at the STX headquarters in Jung-gu, central Seoul, to decide new issuance of a total of 7.36 million common shares. The price

Oct. 20, 2023

[Photo News] Nintendo pop-up in Seoul

Visitors browse a preview of the Nintendo pop-up store in Seoul at HDC IPark Mall in Yongsan, central Seoul, Thursday, a day before its official opening. The pop-up, operating from Oct. 20 to 26, is the first official Nintendo goods store opened in South Korea. Video game enthusiasts will have the opportunity to purchase unique and limited-edition merchandise previously available only at stores in Japan, as well as experience the latest game, Super Mario Bros. Wonder, which released Friday. (Y

Oct. 20, 2023

Samsung unveils foundry road map to lead automotive chip sector

Samsung Electronics, the world’s largest memory chipmaker, unveiled on Thursday its new global foundry business road map, with a particular focus on automotive chips. The plans were announced at Samsung Foundry Forum 2023, hosted by the tech giant in Munich, Germany. “We seek to take the lead in the field of autonomous driving and electric vehicles through technological innovations that meet global customer demands in a timely manner,” said Choi Si-young, president and head o

Oct. 19, 2023

S-Oil to drive net-zero emissions with Shinhan Bank

South Korean oil refiner S-Oil announced Thursday that it has joined forces with Shinhan Bank to bolster its transition to achieving net-zero carbon dioxide emissions. Under a memorandum of understanding signed by the two on Wednesday, the Korean lender will support S-Oil in reducing its carbon footprint in the refining industry, one of the key contributors in global greenhouse gas emissions. As the industry is calling for prompt action to tackle carbon emissions, the agreement will be an opport

Oct. 19, 2023

Samsung Bioepis launches Soliris biosimilar in Europe

Samsung Bioepis, a biosimilar developer under Samsung Group, said Thursday that the company has completed the launches of its hematology biosimilar Epysqli, a biosimilar close to Soliris, in three European countries, hoping to gain ground in the rare blood disease biosimilar market. According to Samsung Bioepis, the company introduced Epysqli in Germany in July, and the biosimilar made its debut in Italy and Spain last month. Samsung Bioepis is also preparing for Epysqli’s launch in France

Oct. 19, 2023

[KH Explains] Why Starbucks' new coupon policy is a big deal in Korea

Starbucks’ recent decision to allow customers to purchase items cheaper than the value of their coupons and get a refund on the price difference is being greeted with enthusiasm by Korean consumers. The new coupon system, which is expected to take effect starting as early as December, has been a longstanding wish among consumers here -- until now, they were often required to spend extra money if they wanted to use mobile gift certificates and coupons at the nation's most popular coffe

Oct. 19, 2023

Kakao faces multiple whammy as CIO arrested

A Seoul court issued an arrest warrant for Kakao Chief Investment Officer Bae Jae-hyun on Thursday on charges of market manipulation related to SM Entertainment's stock price. The development has raised uncertainty about joint projects initiated by Kakao and SM Entertainment. "The arrest warrant was issued due to concerns about Bae destroying evidence or fleeing," the court said. The court dismissed arrest warrants for Kakao's head of investment strategy, surnamed Kang, and

Oct. 19, 2023