Posco ups shareholder returns under new vision

Korean steel giant Posco Group said Tuesday that it is accelerating its drive to enhance shareholder value under its new corporate vision, “Materials for Tomorrow, Innovation for Excellence.” The group has restructured its business around the “2 Core + New Engine” strategy, focusing on steel, energy materials and new businesses. Posco Group is reviewing upstream investments and planning continued projects, including the construction of a 2.5 million-ton electric furnace at its Gwangyang Steelwor

March 25, 2025

Samsung CEO Han Jong-hee passes away at 63

Samsung Electronics Vice Chairman Han Jong-hee passed away from a heart attack on Tuesday at the age of 63. Since joining Samsung Electronics, Han held several key positions, including head of the LCD TV Lab. In 2021, he was appointed vice chairman and co-CEO, taking charge of the company’s Device eXperience or DX division, which oversees its electronics and consumer device businesses.

March 25, 2025

LG Energy wins ESS battery supply deal in Poland

LG Energy Solution Ltd., South Korea's leading battery maker, said Tuesday it has signed a deal to begin supplying batteries next year for energy storage systems to be built in Poland. LGES will supply lithium iron phosphate batteries for the 1-gigawatt-hour ESS facility set to start operations in 2027 by Poland's state-run utility firm Polska Grupa Energetyczna, the company said in a press release. The LFP batteries will be produced at LGES' plant in Poland's southwestern city of Wroclaw, it sa

March 25, 2025

LG Innotek gears up for imminent robot parts production

LG Innotek CEO Moon Hyuk-soo said Monday that the company is preparing for mass production of components for humanoid robots set to launch next year. He also hinted at an imminent partnership announcement with a major industry player. Speaking to a group of local reporters following LG Innotek’s 49th annual general meeting in Seoul, Moon said, “We are in discussions with a significant number of companies regarding camera solutions and we are also developing essential components such as hands and

March 24, 2025

Korean Air signs $32.7b deal with Boeing, GE to upgrade fleet

Korean Air has committed $32.7 billion to global aircraft manufacturer Boeing and leading engine maker GE Aerospace to keep its fleet modernization strategy on track, ensuring timely aircraft deliveries amid ongoing supply chain disruptions. The airline announced Sunday that its Chairman and CEO Walter Cho, Boeing President and CEO Kelly Ortberg, and GE Aerospace President and CEO of Commercial Engines and Services Russell Stokes met in Washington, DC, on Friday to finalize the deal and discuss

March 24, 2025

Samsung chief joins global tech leaders at Beijing forum after 2-year hiatus

Lee Jae-yong visits Xiaomi EV factory with Qualcomm CEO, fueling collaboration buzz Samsung Electronics Chairman Lee Jae-yong made his first official trip to China in two years this week to attend a state-led high-profile forum in Beijing, joining about 80 global tech leaders amid the escalating US-China rivalry, according to industry sources on Monday. Following his internal call for employees to adopt a "do-or-die" sentiment to overcome challenges, Lee's first overseas trip this year is seen a

March 24, 2025

Mirae Asset launches first target-date ETF with S&P

Mirae Asset Global Investments, Korea’s leading asset manager, introduced its first target-date exchange-traded fund on Monday, aiming to provide retirees with a high-return investment strategy for long-term income stability. The asset manager on Monday listed the Tiger TDF2045 ETF on the Korea Exchange, tracking the S&P 500 — one of the benchmark indices for US large-cap stocks, representing around 500 leading US companies. A target-date fund, or TDF, is a long-term investment vehicle that auto

March 24, 2025

[Advertorial] Eximbank issues $1b Aussie 'Kangaroo' bonds

The Export-Import Bank of Korea issued two bonds worth a combined 1 billion Australian dollars ($631 million), the policy lender announced Friday. Eximbank's issuance of the kangaroo bonds, fixed-income investments issued in the Australian market by offshore firms, comes as various policy lenders in Korea, including the Korea Development Bank and Industrial Bank of Korea, have been offering such bonds in recent years to secure liquidity from the overseas capital market. One of the bonds Eximbank

March 23, 2025

Homeplus woes reveal cracks in MBK's leveraging strategy

MBK’s risky buyout backfires as Homeplus enters troubled rehabilitation MBK Partners, one of Asia’s largest private equity firms, is facing its biggest-ever challenge after placing Homeplus into court-led rehabilitation, reigniting criticism of the firm's strategy of putting return maximization above all else. Now industry experts are beginning to question whether the 20-year-old PE firm's approach is all it's cracked up to be. They say its handling of Homeplus highlights the risks of leveraged

March 23, 2025

Samsung, SK hynix to face-off in upcoming HBM4 race

SK hynix vies to retain leadership while Samsung renews commitment to make up for missteps to overtake smaller rival The world’s top two memory-chip makers Samsung Electronics and SK hynix are set to go head-to-head this year for HBM4 dominance, with the next-generation chip poised to determine their positions in the artificial intelligence chip market. In a bid to retain its leadership in the lucrative AI market, SK hynix showcased a sample of the six-generation HBM4 chip last week at GTC 2025,

March 23, 2025

Samsung's Lee set to attend China Development Forum

Samsung Electronics Co. Chairman Lee Jae-yong was set to attend an annual China Development Forum in Beijing, according to the conference's organizer on Sunday. Lee was on the list of attendees for the forum in Beijing, disclosed by the organizer late Saturday, along with Kwak Noh-jung, chief executive officer of SK hynix Inc., Apple CEO Tim Cook and CEOs of other foreign companies, including BMW, Mercedes-Benz, Nestle and FedEx. Lee last attended the forum in 2023. The conference came amid glob

March 23, 2025

S. Korea, US launch working-level talks over 'sensitive country' issue

South Korea and the United States began working-level talks Friday to "swiftly" address the highly charged issue of South Korea's placement on the US Department of Energy's "Sensitive and Other Designated Countries List," Seoul's industry minister said. Ahn Duk-geun made the remarks, after he met with Energy Secretary Chris Wright on Thursday to discuss the matter and other issues amid concerns that the inclusion in the list could affect the two countries' science and technology cooperation. Whi

March 22, 2025

Korea’s arms procurement chief to visit Europe to boost defense exports

Seok Jong-gun, minister of South Korea's Defense Acquisition Program Administration, will visit several European countries starting next week to promote South Korean defense exports amid rising demand for armament in the region. According to the arms procurement agency on Friday, Seok will travel to Norway, Romania and Sweden from Tuesday through March 31. In Norway, which has already imported K9 self-propelled howitzers from Hanwha Aerospace, Seok will hold high-level talks to discuss potential

March 21, 2025

Seoul, Washington agree to swiftly resolve 'sensitive country' listing

South Korea and the US have agreed to work together to quickly resolve issues surrounding Washington’s designation of Seoul on its “sensitive countries list," Korea’s Industry Ministry said Friday. Korean Industry Minister Ahn Duk-geun met with US Energy Secretary Chris Wright on Thursday in Washington, for their first official talks. During their meeting, Ahn conveyed concerns regarding Seoul’s inclusion on the Department of Energy’s list of “sensitive countries and other designated nations.” I

March 21, 2025

Alaska governor to discuss LNG project with Korea next week

Alaska Gov. Mike Dunleavy is set to visit South Korea next week to encourage local energy companies to invest in Alaska’s large-scale liquefied natural gas project. According to sources on Friday, Dunleavy will meet with South Korean officials on March 24 and 25, including Industry Minister Ahn Deok-geun, while coordinating meetings with Posco International, SK Innovation E&S, GS Energy and SeAH Steel, among others. Valued at approximately $44 billion, the Alaska LNG project plans to construct a

March 21, 2025