Hyundai Motor scales back US production shift after union talks

Hyundai Motor and its labor union agreed to reduce planned US production relocation to 74,000 units from its Ulsan plant to secure domestic employment, resolving monthslong negotiations over facility reconstruction. According to media reports Monday, Hyundai’s management and its union signed an agreement outlined by the employment stability committee, mapping out volume transfer and workforce relocation tied to the reconstruction of Ulsan plant one and line two of plant four. A primary focus of

Oct. 26, 2026

Samsung's Hong Ra-hee honored for decades of philanthropy

Hong Ra-hee, honorary director of the Leeum Museum of Art and widow of the late Samsung Group Chairman Lee Kun-hee, was awarded the Dongbaek Medal of the Order of Civil Merit on Monday for more than four decades of philanthropy spanning arts, health care and social welfare. The Dongbaek Medal is the third-highest of five grades of the Order of Civil Merit, a government honor recognizing contributions to public welfare and national development. Hong previously received a gold-level humanitarian a

Oct. 26, 2026

Inside Henkel's Korean factory making adhesives for AI chips

SONGDO, Incheon — Inside a tightly controlled factory in Songdo, German chemicals giant Henkel is producing a critical but often overlooked ingredient in AI chips: semiconductor adhesives. Workers in cleanroom suits operate mixing equipment under strict temperature and humidity controls. Some rooms glow yellow, with ultraviolet light filtered out to prevent unwanted chemical reactions. The materials produced here help hold chips together, protect delicate connections and dissipate heat — increas

Oct. 26, 2026

Deutsch Motors' profit rises 25% on strong BYD sales

South Korean auto dealer Deutsch Motors reported a 25.4 percent rise in operating profit for the first nine months of 2026, buoyed by growing sales of Chinese electric vehicles from BYD and improved performance across its subsidiaries, the company said Monday. Consolidated operating profit climbed to 35.1 billion won ($26.5 million) from 28 billion won a year earlier, while revenue rose 6.8 percent to 2.04 trillion won. Net profit more than tripled to 3.58 billion won, according to preliminary e

Oct. 26, 2026

Brokerages warn of further Kospi downside

South Korean brokerages are warning of further downside in the Kospi as foreign selling and weakening trading activity weigh on stocks. Korea Investment & Securities has identified 5,200 as a potential floor, while Goldman Sachs has slashed its 12-month target by 25 percent, though it remains bullish on Korean equities. The outlook comes ahead of major central bank meetings this week, with investors watching for policy signals that could determine the market's near-term direction. Korea Investme

Oct. 26, 2026

Samsung may have overtaken SK hynix in HBM revenue, analysis suggests

Samsung Electronics may have overtaken SK hynix in third-quarter high-bandwidth memory revenue, according to US equity research firm Bernstein, potentially challenging its smaller Korean rival's long-held leadership in the global AI memory market. Bernstein estimated Samsung's HBM revenue at $8.7 billion for the July-September quarter, up 33 percent from the previous quarter, compared with $7.6 billion for SK hynix, an increase of 11 percent. The estimated $1.1 billion lead follows more than a y

Oct. 26, 2026

Beyond exports: China's automakers dig deeper into Europe

Chinese automakers are turning Europe from an export market into a manufacturing foothold, building factories and joining forces with established rivals to overcome trade barriers and challenge the region's automotive giants. Facing fierce competition and overcapacity at home, companies including BYD, Chery and Geely are moving production closer to European customers. Their strategy goes beyond avoiding EU tariffs: By taking advantage of underused factories and local partnerships, they are posit

Oct. 26, 2026

Musinsa bets on China as fashion flows both ways

In China, Musinsa's overseas aspirations take their most vivid form. Not only does Korea’s leading fashion platform run more stores there than anywhere abroad, but it also brings Chinese designers home to Korean shoppers. Through Musinsa Empty, its high-end select shop with three outlets in Seoul, Musinsa introduces Chinese designers to Korean shoppers. Its latest guest, footwear label Daphne.Lab, is holding its first Korean pop-up at the Seongsu branch, Musinsa announced Monday. Earlier, Musins

Oct. 26, 2026

Hyundai Glovis partners with Shopee to boost K-beauty exports

Hyundai Glovis has launched an integrated logistics service with Shopee Korea to help Korean cosmetics brands expand into Southeast Asia, the company said Monday. Launched this month, the service covers the entire shipping process, from domestic pickup and international freight to customs clearance, regulatory approvals and local order fulfillment. By bringing these services under one provider, Hyundai Glovis aims to shorten delivery times, reduce logistics costs and simplify compliance with var

Oct. 26, 2026

Samsung SDI wins 1 GWh US energy storage deal

Samsung SDI has secured a 1-gigawatt-hour energy storage system supply deal with US power developer Alpha Omega Power, bringing their combined contracts to 1.5 GWh as the Korean battery maker expands its North American business. The latest agreement, signed through Samsung SDI's Michigan-based subsidiary, follows an initial deal made last year, the company said Monday. The StarPlus Energy plant in Kokomo, Indiana, will produce the battery cells and modules, with deliveries scheduled by year-end.

Oct. 26, 2026

Korea Investment Management enters Hong Kong ETF market with chip fund

Korea Investment Management's first exchange-traded fund developed in collaboration with China Universal Asset Management's Hong Kong unit has recently been listed on the Hong Kong Stock Exchange, the asset manager announced Monday. The CUAM Solactive China & Global Semiconductor ETF, with a net asset value of 15.85 million Hong Kong dollars ($2.06 million), was listed Friday. The fund tracks the Solactive Ace ETF Connect China & Global Semiconductor Top 30 Index, developed by German index provi

Oct. 26, 2026

Samsung Display faces profit squeeze as Apple, Samsung cut orders

Samsung Electronics and Apple are scaling back orders for smartphone components as soaring memory prices squeeze margins, threatening fourth-quarter earnings at Samsung Display, which draws nearly two-thirds of its revenue from the two handset makers. According to industry sources Monday, Samsung's mobile division has asked suppliers to trim fourth-quarter component deliveries by 20 to 30 percent from earlier plans. Apple has reportedly cut October orders for certain iPhone 18 Pro and Pro Max pa

Oct. 26, 2026

AI shoppers get first say in Korea's retail race

Korean retailers are testing products on artificial intelligence-generated shoppers before bringing them to real customers, using virtual consumers to predict buying decisions, fine-tune prices and identify potential flaws in shopping experiences. Known as "synthetic consumers," these AI-powered shoppers are designed to mimic real purchasing behavior. Built using large language models and consumer data, they allow companies to test products, marketing campaigns and store layouts without the time

Oct. 26, 2026

From translation to hazard detection, Daewoo E&C puts AI to work

Daewoo Engineering & Construction is expanding AI use across its construction sites, introducing real-time translation, automated safety monitoring and digital management systems to reduce workplace risks and improve efficiency. The Korean builder began standardizing artificial intelligence translation and tablet-based safety training at its domestic sites in September, targeting communication barriers, administrative workloads and workplace hazards. Its AI translation system converts supervisor

Oct. 26, 2026

Mom's Touch targets 50 stores in Kazakhstan in Central Asia push

South Korean burger chain Mom's Touch plans to open at least 50 stores in Kazakhstan over the next decade, expanding its Central Asian footprint through a master franchise deal with local food conglomerate Shin-Line Group. The agreement, signed with Shin-Line's restaurant subsidiary Mom's Touch Central Asia LLP, also covers neighboring Kyrgyzstan, the company said Monday. The first Kazakhstan outlet is scheduled to open in the first half of 2027. The move follows Mom's Touch's entry into Uzbekis

Oct. 26, 2026