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HD Hyundai Heavy bets W1.07tr on engines, SMRs for AI power
HD Hyundai Heavy Industries said Thursday it will invest 1.07 trillion won ($799 million) in dedicated production facilities for land-based power engines and small modular reactors, targeting rising electricity demand from artificial intelligence data centers. Of the total, 833.6 billion won will go toward a new HiMSEN engine production base in Onsan, Ulsan, with an annual capacity of 3 gigawatts. The complex will include dedicated facilities for engine assembly and testing, crankshaft machining
Sept. 10, 2026 -
US Navy chief visits Hanwha Philly Shipyard amid $150b shipbuilding push
Acting US Secretary of the Navy Hung Cao visited Hanwha Philly Shipyard in Philadelphia as South Korea and the United States move forward with a $150 billion shipbuilding cooperation initiative, Hanwha said Wednesday. The visit comes as the two countries pursue the Make American Shipbuilding Great Again initiative, known as MASGA, under their broader strategic investment framework. Hanwha Ocean is among the Korean shipbuilders expected to participate. Cao toured the shipyard and met executives f
Sept. 10, 2026 -
Hyundai Steel reaches first deal under revised labor law
South Korean steelmaker Hyundai Steel and unions representing workers at four of its subsidiaries have reached a labor deal, marking the first such agreement between a main parent company and subcontracted workers since South Korea’s revised labor union law took effect six months ago. The Ministry of Employment and Labor said Thursday that Hyundai Steel and its four subsidiaries, Hyundai ITC, Hyundai IEC, Hyundai IMC and Hyundai ISC, signed a collective bargaining agreement at the steelmaker’s D
Sept. 10, 2026 -
KFC Korea expands regional partnership with Taiwan, Hong Kong
KFC Korea has signed a memorandum of understanding with KFC’s Taiwan and Hong Kong operations to deepen cooperation on menu development, marketing and restaurant operations. The agreement was signed Aug. 25 by KFC Korea CEO Shin Ho-sang and Karen Chan, CEO of KFC Taiwan and Hong Kong. Under the partnership, the three markets will share operational expertise and collaborate on localized menus, joint promotions, customer engagement strategies and quality assurance. Successful products and marketin
Sept. 10, 2026 -
Celltrion steps up European push for asthma drug Omlyclo
Celltrion has promoted its allergic asthma treatment Omlyclo at the European Respiratory Society Congress 2026 in Barcelona, Spain, stepping up efforts to expand the drug’s presence across Europe. The ERS Congress is Europe’s largest respiratory medicine conference, bringing together healthcare professionals from around the world. Celltrion operated a standalone booth under the theme “Similar, but Different” to showcase Omlyclo, its omalizumab biosimilar. The company highlighted the drug’s compa
Sept. 10, 2026 -
SK hynix revises bonus deal with more cash, greater choice
SK hynix has increased the cash portion of its proposed performance bonuses after union members narrowly rejected an earlier agreement. Under a revised tentative deal announced Thursday, the chipmaker will pay its profit-sharing bonuses 50 percent in cash and 50 percent in company shares by default. The previous proposal called for 40 percent cash and 60 percent shares. Employees who prefer more stock may choose a share-based payout of between 50 percent and 100 percent in increments of 10 perce
Sept. 10, 2026 -
Korea Investment deepens global push with Fidelity, Pimco, Carlyle
Korea Investment & Securities, a subsidiary of Korea Investment Holdings, has entered into a series of strategic partnerships with leading global asset managers, including Fidelity, Pimco and Carlyle, expanding its portfolio across research, equity, fixed income and alternative investments, the firm announced Thursday. The company said the partnerships are significant in that its long-standing global business strategy has taken concrete shape through closer collaboration with some of the world's
Sept. 10, 2026 -
Blackstone buys majority stake in Seoul-area logistics park
Blackstone, the world's largest alternative asset manager, has acquired a majority stake in a logistics development in Greater Seoul, which includes Incheon and Gyeonggi Province, in partnership with Singapore-based real estate manager ESR, seeking to capitalize on continued growth of South Korea's logistics market, the asset manager said Thursday. Funds managed by Blackstone Real Estate Partners invested with a majority interest in Sanha Logistics Park II, a prime dry-storage logistics developm
Sept. 10, 2026 -
Prosecutors renew prison demand for LG heir, husband in insider trading appeal
Prosecutors on Wednesday again sought prison sentences for Koo Yeon-kyung, the eldest daughter of late LG Group Chair Koo Bon-moo, and her venture capitalist husband Yoon Kwan, in an appeal, accusing the couple of trading on undisclosed information. The couple was acquitted of all charges in the first trial. At a final hearing in the Seoul High Court, prosecutors requested the appellate court to impose the same sentences they had demanded in the lower court. Prosecutors had requested a two-year
Sept. 10, 2026 -
63 Building draws 300,000 visitors in first 100 days after revamp
Seoul's landmark 63 Building has drawn about 300,000 visitors in the first 100 days since reopening as a revamped cultural and lifestyle complex, Hanwha Life Insurance said Thursday. The building, which reopened in June, marks its 100th day on Friday following a major renovation aimed at transforming the decades-old landmark from a destination best known for its observation deck into a venue combining art, dining, shopping and entertainment. At the center of the revamp is Pompidou Center Hanwha,
Sept. 10, 2026 -
Korea Eximbank expands Africa financing in AI, critical minerals
Korea Eximbank signed a pact with the African Development Bank to expand financing for African projects in artificial intelligence, critical minerals and green infrastructure, the state lender said Thursday. Korea Eximbank Chairman and President Hwang Ki-yeon and AfDB President Sidi Ould Tah signed the agreement Wednesday in Seoul during the eighth Korea-Africa Economic Cooperation Ministerial Conference. Under the agreement, the two institutions will seek to expand joint financing in areas incl
Sept. 10, 2026 -
What's up with Koreans waiting hours for Chipotle?
At lunchtime in southern Seoul's Gangnam, the line for a burrito bowl stretched down the block. Nearly a week after Chipotle opened its first Asian location in Seoul on Sept. 2, customers were still being told to expect waits of up to two or three hours. On Sunday, some 150 people were counted in line by 11 a.m., stretching more than 50 meters. For some of those waiting, however, the food was only part of the point. "We've got to keep up with what's trending," said university student Kim Min-ju,
Sept. 10, 2026 -
FosterBridge aligning with Qazaq Creative to drive growth in creative industries
FosterBridge, a Korea-based global startup growth platform, will join forces with Qazaq Creative, a digital platform for discovering and connecting startups and individuals in creative industries, according to FosterBridge on Sept. 2. Qazaq Creative was launched by the Republic of Kazakhstan under its government-financed fund named “Creative Industries Development Fund.” "We have witnessed startups forging global opportunities not because they lack the expertise or technological prowess, but bec
Sept. 10, 2026 -
SKT's chief participates in global mobile industry event in Malaysia
SK Telecom Co.'s Chief Executive Officer Jeong Jai-hun participated in a regional event hosted by the Global System for Mobile Communications Association in Kuala Lumpur, Malaysia, this week and met with industry officials of the Association of Southeast Asian Nations (ASEAN), the South Korean telecom operator said Thursday. Discussions centered on pressing industry issues in the era of artificial intelligence (AI), including AI sovereignty and ways to establish trustworthy telecom networks, acc
Sept. 10, 2026 -
Why Apple’s first foldable may be its most Korea-dependent iPhone yet
Apple spent years waiting for foldable phones to become good enough for an iPhone. When it finally moved, however, it reportedly put the part that makes the phone fold in the hands of a single supplier: Samsung Display. That gives iPhone Duo, unveiled Wednesday at a starting price of $1,999, an unusual supply-chain profile. Apple still sources major components from around the world. But the part most closely tied to its new form factor is also one of the hardest to replace outside Korea. "With t
Sept. 10, 2026