JPMorgan Chase CEO and Chairman Jamie Dimon reportedly met with the heads of the nation’s top four financial groups and Bank of Korea Gov. Rhee Chang-yong in Seoul during his two-day visit to Korea in five years, according to industry sources on Tuesday. Upon his arrival at a Seoul hotel on Monday, he met with the nation’s financial leaders, including Shinhan Financial Group Chairman Jin Ok-dong...

A large-scale construction project is underway for the establishment of an evacuation shelter in Seoul's Gangnam district amid growing interest for such facilities following the warning alarm sent out earlier in the week, according to industry sources Tuesday. According to Hyundai Engineering & Construction, a South Korean builder in charge of reconstructing Banpo Jugong apartment complex 1 in S...

Lotte Group, the nation’s fifth-largest conglomerate, said Monday it has recently set up a future growth task force at its Korean and Japanese headquarters in an apparent move to accelerate the retail giant’s “One Lotte” strategy. The team, consisting of four members, aims to shape Lotte’s long-term strategy and nurture future growth drivers as well as seek business synergies with Lotte Japan. ...

LG Electronics announced Monday it has joined RE100 initiative to go net zero by 2050. The RE100 initiative, introduced by The Climate Group in partnership with the Carbon Disclosure Project in 2014, sets a 2050 target for using 100 percent renewable electricity. Global tech giants such as Samsung Electronics, Apple, TSMC and Sony have already joined the initiative. LG Electronics said it will ...

Financial authorities prioritize creating favorable environment for foreign investors, still hesitant to fully allow short selling

Shipbuilding rivals vie to boast warship technologies in Busan this week

In the first half of this year, the company plans to launch new theaters for its corporate clients, including Hyundai Motor, Jeju Shinhwa World Marriott Resort and Homeplus. “When a growing number of multiplex cinemas are closing, I think it’s meaningful to create a new business model for theater operators. By 2030, we aim to build at least 4,000 Monoplex locations,” Seok said. Seok also introd...

Hanjin Group Chairman and Korean Air CEO Walter Cho received the Excellence in Leadership Award by Air Transport World, the company said Sunday. The award ceremony was held at the Grand Cevahir Hotel in Istanbul, Turkey, on Friday, Korean Air said. The award was established in 1974 by ATW, a publication covering global air transportation, and is one of the most prominent awards in the industry,...

Posco has launched the country’s first low-carbon steel product in line with the steelmaker’s ambitious goal to achieve carbon neutrality by 2050, the company said Sunday. LG Electronics has become the first client to purchase the newly-launched low-emission steel product for the company’s home appliances production, the company added. Posco’s new steel product, named Greenate certified steel, ...

SK Group announced Sunday that the total social value generated by its key affiliates last year was 20.5 trillion won ($15.6 billion), up 1.6 trillion won or 8.6 percent from the previous year. Social value refers to the degree to which companies have contributed to solving or alleviating social problems facing stakeholders. The nation’s second-largest conglomerate has unveiled the value of its...

Lotte Group Chairman Shin Dong-bin (sixth from left) joins the group’s promotional activities to support Busan’s 2030 World Expo bid during the 2023 Lotte Open of the Korea Ladies Professional Golf Association’s Tour held at Bear’s Best Golf Club in Cheong-na, Incheon, on Saturday.

Hyundai Oilbank is ramping up efforts to fulfill its environmental, social and governance goals by accelerating its sustainable businesses and contributing to social enrichment, the company said Friday. As part of the efforts, the company is set to build an eco-friendly power plant that uses both liquefied natural gas and blue hydrogen as fuel. Hyundai E&F, the oil company's power generation af...

Shin Ho-cheol, the vice president of Kakao Pay also known as Simon Shin, has been appointed as a board member of the US brokerage firm Siebert Financial. This appointment follows the online payment unit of South Korean tech giant Kakao Corp.'s recent announcement of its intention to acquire a majority stake of up to 51 percent in Siebert with a total investment of approximately $77.38 million. ...

LG Chem CEO Shin Hak-cheol traveled to Japan to host a recruitment event, as the company seeks talent to boost its material, biotechnology and equipment sectors, the chemical firm said Friday. Shin hosted the “Business and Campus Tour” at the Intercontinental Tokyo Bay Hotel on Thursday, which invited some 40 doctoral candidates and master's students in science and engineering from seven major u...