South Korea's business sentiment slightly improved for June amid expectations that earnings in key sectors and domestic demand may improve, a central bank poll showed Wednesday. Local companies' business sentiment index for June came to 76, up from 74 tallied for the previous month, according to the survey by the Bank of Korea. The index measures corporate prospects for business conditions the ...

The South Korean government and major carmakers will jointly invest more than 14.3 trillion won ($10.9 billion) to promote the transition of the conventional auto parts industry to gear up for a "speedy" and "flexible" transformation for future mobility, the Industry Ministry said Tuesday. In a roundtable meeting of private auto and automotive parts companies, the Ministry of Trade, Industry and...

Demand for cold medicines has increased recently, as the seasonal flu has continued longer than usual. With the spurt in cold and flu cases, sales of cold medicines have increased while some pharmacies face shortages, according to data from the government and local pharmaceutical companies on Tuesday. “Demand for over-the-counter cold medicines seems to be higher than usual, and some prescriptio...

Kwon Hyuk-woong, vice chairman and close aide to Hanwha chief, named first CEO

Dutch chip equipment giant to boost R&D capacity in Korea, home to key clients Samsung, SK

South Korean internet giant Kakao Corp. announced Tuesday that it held talks with officials from the Saudi Tourism Authority on building mobile infrastructure to revitalize tourism in Saudi Arabia at the Kakao headquarters in Pangyo. Top executives from both sides, including STA’s President of APAC Markets Alhasan Aldabbagh, and STA’s Chief Technology Officer Choon Quek attended the meeting. Sa...

South Korean steel giant Posco said Tuesday it has won three medals for new stainless technologies at the Stainless Steel Industry Awards held by Worldstainless, a non-profit international association, earlier this month in Brussels. The company touted the latest feat as yet another recognition of its technical prowess following its gold medal win at the same awards last year. This year Posco w...

Outlook mixed over costly tie-up with US brokerage firm Siebert Financial

China imposes first ban against US memory chip maker, citing security risks

South Korean food giant CJ CheilJedang said Monday that it recently completed the construction of the world's largest pizza production plant in the US state of Kansas, in a bid to ramp up its competitiveness in the all-important market. According to CJ CheilJedang, the company recently added 40,000 square meters to its frozen pizza production facility in Salina, Kansas. With the expansion, the ...

South Korea will send an economic delegation to Estonia, Lithuania and Finland this week to explore ways to boost cooperation on trade and various new industry fields, such as battery, bio and nuclear power generation, with the respective nations, the industry ministry said Monday. The delegation, led by Deputy Trade Minister Jeong Dae-jin, was to visit Estonia on Monday and have talks with rank...

As the world's No. 2 and No. 4 NAND flash suppliers of Japan and the United States are discussing a potential merger to achieve market prowess, eyes are on how the move will impact the current market leader Samsung Electronics. In a report last week, Reuters said Japan's Kioxia Holdings and the US' Western Digital -- ranked the world's second- and fourth- biggest memory chip makers, respectively...

LG Group said Sunday that it awarded the first LG Guggenheim Award to Brooklyn-based artist Stephanie Dinkins, at a ceremony held in New York, Friday. The LG Guggenheim Award is an extension of the LG Guggenheim Art and Technology initiative, a five-year joint project from the Guggenheim and LG to honor, research and promote artists combining technology and art in their works. Dinkins, an art p...

Battery maker LG Energy Solution said Friday it has signed a deal with Green Technology Metals (GT1), a lithium exploration and development business, as part of efforts to establish a supply chain of critical raw materials for batteries in the North American region. Under the deal, LGES will subscribe to 21,739,130 new shares in GT1 at a price of 0.92 Australian dollars ($0.61) per share, for a ...

Naver Pay app installations soared 186 percent to 470,000 in April, a month after it integrated its payment service with Samsung Pay, according to Naver Financial. "We see that the number of app installations for Samsung Pay's interlinked offline payment service has significantly increased,” a Naver Financial official said in a statement Thursday. "The usage of the payment service has expanded ...