[Photo News] Edward Lee-crafted flavors

Edward Lee, a star chef from Netflix's "Culinary Class Wars," poses for a photo at a launch event at The Shilla Seoul on Tuesday, where he unveiled three exclusive creations in collaboration with Korean fast-food chain Mom's Touch. Lee developed two burgers and one chicken dish for the chain, inspired by recipes from his US restaurants. The first offering, a bourbon-based chicken set, will debut in February, followed by a beef-based burger and a chicken-based burger in March. (Mom's Touch)

Jan. 21, 2025

Hyundai, Kia’s top-tier suppliers hit W90tr in sales

Hyundai Motor Group announced Tuesday that sales of its top-tier suppliers have surpassed a record 90 trillion won ($62.6 billion), driven largely by the automaker’s global expansion. The group’s 237 first-tier suppliers, most of which are small and medium-sized enterprises, reported combined sales of 90.2 trillion won in 2023. This figure exceeded Hyundai Motor’s own revenue of 78.3 trillion won for the same year and accounted for 66 percent of the combined sales of Hyundai and Kia brands. Incl

Jan. 21, 2025

LG Uplus CEO vows to build on strong fundamentals

LG Uplus CEO Hong Bum-shik recently visited the company’s research and development center in Daejeon, emphasizing his commitment to reinforcing fundamentals such as quality, safety and security. “If we build strong fundamentals and enhance capabilities such as customer analysis, data-driven strategies and collaboration frameworks, I am confident that LG Uplus can emerge as a market leader not only in telecommunications but also in newly expanding competitive sectors,” Hong told employees during

Jan. 21, 2025

Korea's antimonopoly platform act faces uncertainty amid Trump's return

The South Korean government’s plan to introduce antimonopoly regulations targeting major domestic and global online platforms faces growing uncertainty following Donald Trump’s inauguration on Monday for his second term as US president. Concerns are mounting that Seoul’s proposed measures could lead to trade conflicts with Washington. Korea's antitrust watchdog and the National Assembly are pushing for a new act, the "Platform Competition Promotion Act," aimed at curbing monopolistic practices b

Jan. 21, 2025

Kolmar Korea unveils recyclable sheet mask pouch in sustainability push

South Korea's leading cosmetics original design manufacturer Kolmar Korea announced Tuesday that it has developed a recyclable paper pouch for sheet masks as part of its efforts to lead in global sustainability. The announcement follows the company’s recognition by US weekly magazine Time last November as one of the World’s Best Companies in Sustainable Growth 2025. Ranked 125th globally, Kolmar Korea was the only Korean cosmetics firm to make the list. The new paper pouch, created in partnershi

Jan. 21, 2025

Trade minister to seek consultations on response to potential US policy shifts at Davos forum

Trade Minister Cheong In-kyo will seek close consultations with his counterparts on ways to respond to trade policies under the second Donald Trump administration during the World Economic Forum in Davos, Switzerland, the trade ministry said Tuesday. Cheong will participate in the annual meeting of government and business leaders under the theme of "Collaboration for the Intelligent Age" from Wednesday to Friday to discuss pending global issues, according to the Ministry of Trade, Industry and E

Jan. 21, 2025

Automotive experts call for adjustment to S. Korea's zero-emission vehicle target

Automotive industry experts on Tuesday urged the government to revise its ambitious target of deploying 4.5 million zero-emission vehicles by 2030, part of the nation's greenhouse gas reduction goals, to align with practical realities. Yoon Kyung-sun, executive managing director of the Korea Automobile & Mobility Association, called the country's goal of deploying 4.5 million zero-emission vehicles by 2030 "extremely ambitious." "With only 146,000 electric vehicles sold last year, achieving annu

Jan. 21, 2025

Tighter rules eyed for institutions' investment in IPO shares, delisting

South Korea's financial regulator said Tuesday it plans to introduce a set of enhanced regulations for institutions' investment in newcomers on the stock market as part of efforts to improve related regulations. Also, those who fail to meet listing requirements will be exited faster than now under strengthened delisting rules, according to the Financial Services Commission. Starting next year, over 40 percent of the initial public offering shares will be first allotted to institutional investors

Jan. 21, 2025

Seoul shares start higher on eased woes over Trump tariffs

South Korean stocks got off to a strong start Tuesday as new US President Donald Trump has not immediately imposed tariffs on his first day in office. The benchmark Korea Composite Stock Price Index added 25.16 points, or 1 percent, to 2,545.21 in the first 15 minutes of trading. Trump started his second term Monday, vowing for his "America First" policy on immigration, tariffs and energy. However, he held off on immediate tariffs during his first day while signing an order to withdraw the Unite

Jan. 21, 2025

Exports decrease 5.1% in Jan. 1-20 period

South Korea's exports dropped 5.1 percent from a year earlier in the first 20 days of January due to a smaller number of working days, data showed Tuesday. Outbound shipments reached $31.6 billion in the Jan. 1-20 period, compared with $33.3 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports went down 1.7 percent on-year to $35.4 billion during the period, resulting in a trade deficit of $3.8 billion, the data showed. The decline in exports was solely a

Jan. 21, 2025

Threats, new horizons loom for S. Korean industries as Trump's 2nd term brings uncertainties

As Donald Trump takes office for his second term as US president, South Korean industries are closely watching for potential changes in Washington's economic and trade policies, which could significantly impact their American businesses, industry observers said Tuesday. While concerns abound over possible rollbacks of key US legislation, such as the CHIPS and Science Act and the Inflation Reduction Act, some sectors anticipate opportunities for deeper collaboration with the United States, partic

Jan. 21, 2025

Producer prices up for 2nd month in Dec. amid weak currency

South Korea's producer prices rose for the second consecutive month in December amid the weak local currency and rising global oil prices, central bank data showed Tuesday. The producer price index, a major barometer of consumer inflation, added 0.3 percent in December from a month earlier, following a 0.1 percent gain in November, according to the preliminary data from the Bank of Korea. It marked the sharpest on-month gain since July. On a yearly basis, the index rose 1.7 percent last month, m

Jan. 21, 2025

Seoul shares retreat for 2nd day ahead of Trump's inauguration

South Korean stocks closed marginally lower for the second consecutive day Monday as the upcoming inauguration of new US President Donald Trump weighed on investor sentiment here. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 3.5 points, or 0.14 percent, to close at 2,520.05, following a 0.16 percent drop on Friday. Trade volume was moderate at 429.8 million shares worth 8.5 trillion won ($5.86 billion), with decliners outnumbering winners 488 to

Jan. 20, 2025

Korean firms must bolster planning, highlight role in US economy under Trump 2.0: expert

As Donald Trump assumes office for a second term on Monday, South Korean businesses are bracing for sweeping changes in US trade policies that could thrust them into considerable uncertainty. From potential tariff hikes to aggressive trade strategies and the rollback of green initiatives, Korea’s export-driven companies are gauging the risks and opportunities in the world’s largest economy. Amid these potential disruptions, firms must be equipped with “robust scenarios” and engage effectively wi

Jan. 20, 2025

Why KB Bank is determined to seek turnaround in Indonesia

Korea’s leading lender trails crosstown rivals in global operations For KB Kookmin Bank, one of the nation's top four commercial lenders, normalizing its Indonesian unit remains a top priority in restoring its global operations to profitability. In the first three quarters of last year, KB Kookmin Bank was the only major Korean lender to report losses in its global operations, posting a cumulative deficit of 78.8 billion won ($54.3 million) through its foreign subsidiaries. In contrast, its comp

Jan. 20, 2025