Starbucks Korea, the nation’s No.1 specialty coffee chain, said Wednesday that the cumulative users of its customer membership "Starbucks Rewards" has recently hit the 10 million mark. The figure is twice as high as the 4.1 million members of Twosome Place and the 6 million of Ediya Coffee -- the second and third-largest coffee franchises in Korea by sales. Having started the membership service...

Kia on Wednesday unveiled the 2024 Niro, a revamped version of the carmaker's top-selling eco-friendly brand. The upgraded Niro comes in both hybrid and fully electric models, with prices starting at 27.1 million won ($22,000) and 48.5 million won, respectively.

South Korean shipyard Samsung Heavy Industries Co. said Wednesday it has won a 609.7 billion-won ($495 million) order to build two liquefied natural gas (LNG) carriers for an Oceanian shipper. Samsung Heavy said in a regulatory filing that it will deliver the vessels to the undisclosed shipping company by mid-January 2027. So far this year, Samsung Heavy has clinched orders worth some $2 billio...

Posco Chemical Co., a South Korean manufacturer of industrial materials, said Wednesday it has begun construction of its second factory for synthetic graphite anode materials in the country's southeast. Posco Chemical broke ground on the plant at its key manufacturing complex in Pohang, 272 kilometers southeast of Seoul, on Tuesday, the company said in a release. The construction is part of a p...

SK hynix Inc. said Wednesday it swung to a deficit in the fourth quarter due to the global chip market's slowdown amid weak demand and oversupply. The world's second-largest memory chip maker logged an operating loss of 1.7 trillion won ($1.37 billion) for the three months ending in December, compared with a profit of 4.21 trillion won a year ago. It was the South Korean chipmaker's first quart...

A Galaxy Experience Space at Powell Street, San Francisco is seen Tuesday, one day before Samsung Electronics unveils its latest flagship Galaxy S smartphone lineup in the US city. The tech giant plans to operate a total of 29 interactive experience spaces in key cities on Wednesday to allow visitors to try out its new smartphones and other mobile devices.

Daewoo Engineering & Construction has posted an annual operating profit of 760 billion won ($617 million), an all-time high in the company’s history. Daewoo E&C’s operating profit in 2022 was up 2.9 percent from the previous year’s 738.3 billion won, according to a regulatory filing released Tuesday. Annual sales last year reached 10.4 trillion won, up 20 percent from 8.6 trillion won in 2021. ...

Posco Group Chairman Choi Jeong-woo met with Western Australia Premier Mark McGowan on Monday to discuss their cooperation on hydrogen and secondary battery materials businesses, the company said Tuesday. Posco “needs an intimate collaboration with Australia on hydrogen and secondary battery materials sectors,” Choi said during his meeting with McGowan at Posco Center in Gangnam-gu, Seoul. Duri...

Volkswagen Korea will issue a recall of more than 67,000 vehicles and has suspended all new car sales due to faulty warning triangles, a car accessory to warn drivers after emergency stops, a move experts here called an unprecedented precautionary measure after the firm's painful “Dieselgate” back in 2015. The Korean unit of the German carmaker said Tuesday a total of 67,459 vehicles across seve...

The US State of Georgia said Tuesday SK Battery America, a production subsidiary of South Korean battery giant SK On, has exceeded its hiring goal two years earlier than the initial schedule to fill jobs at its manufacturing facilities for electric vehicle batteries in the city of Commerce, Jackson County. The state government said the company had achieved its goal of 2,600 employees as of the e...

Hyundai Mobis, a car parts maker under Hyundai Motor Group, announced Tuesday that it received a record-breaking $4.7 billion of orders from global automakers last year. This is the company’s greatest feat since it first entered the international automotive parts market in the early 2000s. The company surpassed its initial goal of $3.8 billion by 25 percent and achieved a near-double increase co...

Posco International, a subsidiary of steel giant Posco, on Tuesday held a ground-breaking ceremony for its second liquefied natural gas terminal in Gwangyang, South Jeolla Province. The company said the construction will accelerate its vision to become an eco-friendly company by strengthening its energy value chain. The company plans to invest 930 billion won ($757 million) to build two 200,000...

World's No. 1 memory chipmaker posts 69% plunge in operationg profits in Q4

South Korea's industrial output fell 1.6 percent on-month in December, data showed Tuesday, as the manufacturing sector remained sluggish amid weak exports. Industrial production decreased at the widest margin in 32 months, shifting from a 0.4 percent rebound posted in November, according to the data from Statistics Korea. The output in the mining, manufacturing, gas and electricity industries ...

South Korean battery giant LG Energy Solution’s stocks stood strong on Monday, despite the end of a year-long lock-up period. The company’s shares rose by 0.79 percent to 510,000 won ($415.5) from the last trading day, according to the bourse operator Korea Exchange. The stocks tumbled by 3.16 percent to 490,000 won at one point in the morning but ticked upwards approximately one hour before the...