Genesis adds Bloomberg app, music service to vehicle infotainment system

Genesis, the independent luxury auto brand of Hyundai Motor Group, said Thursday it will offer the Bloomberg app and its proprietary Genesis Music service free of charge for vehicles equipped with its next-generation infotainment system. The Bloomberg app will be available across all supported Genesis models, while Genesis Music will not be included in pre-2024 G90 units and pre-revamped GV60 models. The electrified GV70 will offer the music service at a later date. Customers can access both ser

April 10, 2025

S. Korea on course to conclude negotiations on Czech nuclear power plant project: minister

South Korea is on course to conclude negotiations for a project to build a nuclear power plant in the Czech Republic, Seoul's industry minister said Wednesday, as the final agreement for the highly anticipated project is being delayed. "We have completed documentations for the project, and local procedures, such as a legal review and board meetings, are currently under way," Industry Minister Ahn Duk-geun told the parliamentary committee on industry and trade. "We hope to finalize the agreement

April 9, 2025

SK in talks to sell SK Siltron

SK Group is considering selling its controlling stake in SK Siltron, a semiconductor wafer producer, as part of restructuring efforts to secure liquidity, industry sources said Wednesday. If completed, the sale could generate trillions of won, with SK Siltron’s valuation estimated at around 5 trillion won ($3.4 billion). SK Inc., the group’s holding company, which oversees its subsidiaries, has reportedly expressed interest in selling its 70.6 percent stake in SK Siltron to private equity firms,

April 9, 2025

Kakao mulls selling entertainment unit amid IPO delay

Kakao is reportedly exploring the sale of its content affiliate Kakao Entertainment, raising eyebrows across the industry as the company struggles with a delayed initial public offering plan amid unfavorable market conditions. Kakao on Wednesday issued a regulatory filing saying that it is “considering various strategic options” with shareholders to enhance corporate value and ensure sustainable growth for Kakao Entertainment, but emphasized that “no final decision has been made.” The tech giant

April 9, 2025

[Photo News] HD Hyundai's motor show debut

HD Hyundai Executive Vice Chairman Chung Ki-sun (center) on Tuesday looks around the exhibition booth of the shipbuilding giant's construction machinery division at the 2025 Seoul Mobility Show, held this week at Kintex in Goyang, Gyeonggi Province. HD Hyundai made its motor show debut to showcase construction machinery, including its new automated excavator. During his visit, Chung emphasized the shipbuilder’s strategic expansion into land infrastructure as part of its commitment to fostering a

April 9, 2025

Polish lawyer rediscovers Korean heritage at Woori Bank

At Woori Bank’s first Warsaw branch, deputy manager Mateusz Ordyk brings his Korean roots to the forefront of the lender’s European growth Mateusz Ordyk brings more than just executive expertise to South Korean lender Woori Bank’s new chapter in Poland — he carries a personal history that bridges two nations. “I was born in Poland, but my roots trace back to Korea,” Ordyk said. “I hope to serve as a bridge that brings the two countries closer together.” Ordyk, a lawyer-turned-banking executive,

April 9, 2025

SK Group considers selling chip wafer subsidiary SK Siltron: sources

SK Group is considering selling a controlling stake in its semiconductor wafer subsidiary SK Siltron Co. as part of a restructuring plan of the group's key businesses, according to industry sources Tuesday. According to the sources, SK Inc., the group's holding company, has been in contact with various private equity funds to explore the potential sale of a controlling share of the subsidiary, which SK purchased from LG Group in 2017. The amount of share under consideration is reportedly at 70.6

April 8, 2025

Financial groups roll up sleeves to cushion US tariff fallout

As trade tensions escalate, financial leaders mobilize resources to protect struggling exporters Korea's major financial institutions are implementing extensive support plans for small and medium-sized enterprises and key exporters in response to ongoing economic challenges induced by new US tariff measures. Financial authorities have stressed the need for the financial sector to enhance its core functions to maintain market stability since US President Donald Trump announced a universal 10 perc

April 8, 2025

Samsung's Q1 profit beats estimates on Galaxy phones, memory demand

Analysts see steady earnings recovery ahead, but tariff, HBM headwinds remain Samsung Electronics on Tuesday said its earnings for the January–March period are expected to significantly exceed market expectations, driven by strong sales of its flagship artificial intelligence smartphones and better-than-anticipated demand for DRAM chips. In its earnings guidance for the first quarter, the Korean tech giant projected a consolidated operating profit of 6.6 trillion won ($4.48 billion), down 0.15 p

April 8, 2025

US tariff crackdown spurs AliExpress, Temu to deepen Korea push

Chinese e-commerce firms seek new growth in Korea, expanding logistics, local seller networks The US government's decision to scrap tariff exemptions on low-value imports from China is expected to accelerate Chinese e-commerce giants’ expansion into the Korean market, adding pressure to domestic platforms already struggling to stay competitive. On April 2, US President Donald Trump signed an executive order ending the de minimis rule, which had exempted shipments under $800 from tariffs. Startin

April 8, 2025

LG Innotek, Intel team up for AI-powered smart factories

LG Innotek said Tuesday that it will collaborate with US chipmaker Intel on applying artificial intelligence to vision inspection systems across its production lines. Vision inspection is a process used in manufacturing to detect external defects or anomalies in products. Traditionally performed by human inspectors, the method has been increasingly automated using cameras, with AI further enhancing accuracy and consistency. The adoption of AI can significantly reduce product defect rates, accord

April 8, 2025

Hanwha Aerospace files revised share sale plan at regulator's request

Hanwha Aerospace Co., a South Korean defense industry company, on Tuesday said it has filed a revised share sale plan to raise 2.3 trillion won ($1.56 billion) at the request of the financial regulator. The company originally planned to raise 3.6 trillion won in capital through a stock sale but the Financial Supervisory Service asked it to submit a revised plan, citing insufficient information for investors. To fill the gap of 1.3 trillion won, Hanwha Aerospace will issue new shares to three Han

April 8, 2025

S. Korea to thoroughly respond to China's export controls on key rare earth elements

South Korea's industry ministry said Monday it will thoroughly respond to China's export controls on key rare earth elements to secure a stable supply. Last week, Beijing said it will impose export controls on seven rare earth elements, including gadolinium and yttrium, in response to the United States' reciprocal tariff imposition. The ministry said China has not levied bans on such elements but tightened controls on them. It said the country has stable reserves of the elements but will work wi

April 7, 2025

LG CNS to build AI platform for Mirae Asset Life in W130b deal

LG CNS announced Monday that it has signed a 130 billion won ($88.8 million) deal with Mirae Asset Life Insurance to support the insurer’s artificial intelligence transformation and the development of next-generation systems. Under the agreement, LG CNS will build a generative AI platform for Mirae Asset Life and implement a multi-hybrid cloud environment. The Korean IT services provider will also lead a full-scale overhaul and upgrade of Mirae Asset Life’s core systems, including insurance prod

April 7, 2025

US tariffs pour cold water on exports of Korean ramyeon

Trump’s surprise move to impose a 25 percent tariff on imports to the US from South Korea starting Wednesday is set to disrupt key exports, with food products at their peak. Among the hardest hit appears to be Korean instant noodles, or ramyeon, which have become a runaway hit with American consumers. Ramyeon has led the way as Korean food exports have steadily climbed over the past decade. According to data from the Korea Trade Statistics Promotion Institute, Korean food exports surged from $3.

April 7, 2025