Most Popular
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Korean battery makers brace for impact of US election
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[Photo news] Rally against first couple
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$200m a year, 700,000 tons of rice, space tech: The deal for North Korea in joining Russia’s war
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Who is writer of Hybe's controversial internal report?
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[Weekender] Welcome to S. Korea’s first ‘vegan village’
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Rose makes history as 'APT.' claims No. 2 on British Official chart
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[Photo news] LGBT festival in Incheon
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Scandal-hit ex-lawmaker denies corruption claims as pressure on Yoon mounts
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Will South Korea go back to banning phones in classrooms?
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Temperatures to significantly drop from Monday
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[Investor] S-Oil stays atop Korea's most admired companies
S-Oil, one of major refineries in South Korea, has once again secured the top position in the highly esteemed "2024 Korea's Most Admired Companies" survey, marking the sixth consecutive year for its inclusion among the top 30 business groups. S-Oil was also named as the top company in the oil refining industry for eight consecutive years, company officials said Wednesday. This recognition, bestowed by KMAC, a leading industrial consulting group in Korea, in its annual evaluation,
Feb. 29, 2024
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Woori, UAE’s Mubadala seek to bolster ties
South Korea’s major banking holding firm Woori Financial Group and Abu Dhabi sovereign wealth fund Mubadala Investment Company took the first step toward partnership as their subsidiaries signed a deal for joint efforts in discovering global investment opportunities. Woori Venture Partners, the venture capital unit of the Korean conglomerate, and Mubadala Capital, the asset management subsidiary of Mubadala, signed a memorandum of understanding for their strategic cooperation in Abu Dh
Feb. 28, 2024
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CJ’s Tous Les Jours seeks bigger footing in Indonesia
CJ Foodville, the operator of the bakery chain Tous Les Jours and a subsidiary of South Korean conglomerate CJ Group, said Wednesday its bakery stores in Indonesia have surpassed 60 in number, with a recent addition in Bandung, located southeast of the capital Jakarta. Having entered the Indonesian market in 2011, CJ Foodville initially focused on opening branches around the capital city. However, the company has been recently diversifying its focus to include major cities, including Tangerang,
Feb. 28, 2024
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[Investor] Hyundai Motor’s innovation and competition acclaimed
Hyundai Motor Group’s trailblazing electric vehicles have earned rave reviews and charted a path to success under the leadership of Chair Chung Euisun. CNBC, the premier economic news broadcaster in the United States, aired a special feature on Sunday focusing on the factors propelling the Korean carmaker to become the 3rd-largest contender in the global finished vehicle market. The feature emphasized the company's commitment to innovation and technological excellence as pivotal to it
Feb. 28, 2024
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NH Investment & Securities launches mobile trading service in Vietnam
NH Securities Vietnam, the Vietnamese unit of NH Investment & Securities, said Tuesday it has launched a mobile trading service called NHSV Pro. The launch of the mobile trading service reflects the Korean brokerage firm's strategy to expand sales and enhance financial IT systems by bolstering the Vietnamese unit's presence in Southeast Asia. Designed to cater specifically to the needs of novice stock investors in Vietnam, the service offers a suite of additional services, includin
Feb. 27, 2024
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Arrest warrant sought for SPC CEO
Prosecutors on Tuesday requested an arrest warrant for SPC Group CEO Hwang Jae-bok over allegations of pressuring employees to cancel their labor union membership. The Seoul Central District Prosecutors' Office said that it has sought an arrest warrant for Hwang, who has allegedly violated Korean labor law and engaged in bribery of an investigator. Hwang is accused of trying to force some of PB Partners' employees who joined the umbrella Korean Confederation of Trade Unions to quit the
Feb. 27, 2024
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[Photo News] Samyang Buldak at MLS opener
Samyang Round Square said Tuesday it sponsored the opening match of the 2024 Major League Soccer season for the LA Galaxy soccer club, which faced off against Inter Miami CF on Sunday, as part of its efforts to expand into the US market. During the game held at Dignity Health Sports Park, LA Galaxy's home stadium in Carson, California, the food company showcased product advertisements featuring its flagship Buldak products on the scoreboard, while also offering its spicy ramyeon products
Feb. 27, 2024
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Paris Baguette opens first store in Hawaii
South Korea's SPC Group said Monday its bakery chain Paris Baguette launched its first store in Hawaii in a bid to boost global brand awareness. With the addition of the new outlet, Paris Baguette now runs 160 stores in the United States. Strategically situated on Bishop Street, a prime location within Honolulu's bustling business district, the opening is a part of the company's international expansion strategy. "Hawaii is a world famous tourist destination that can play a st
Feb. 27, 2024
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CJ CheilJedang's instant rice sets sales record on overseas demand
South Korean food giant CJ CheilJedang's cooked rice product line, Hetbahn, achieved record-breaking annual sales of 850.3 billion won ($639 million) in 2023, significantly contributing to the growth in global sales, the firm announced Monday. Based on the firm's report, Hetbahn’s overseas sales last year surged by 21 percent and domestic sales grew by 1.4 percent compared to 2022. In the fourth quarter of 2023 alone, total sales increased by 9 percent on-year. Last year, Hetbahn
Feb. 26, 2024
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Dabeeo to bring AI to govt. mapping project
Spatial information firm Dabeeo has been chosen to participate in a government pilot project to enhance mapping here. The AI corporation will participate in the "1:1,000 Topographic Map Enhancement" pilot project, which aims at completing more precise and accurate maps across South Korea than the current 1:5,000 maps, Dabeeo said Monday. The pilot project is being conducted by South Korea’s National Geographic Information Institute in Seoul, Jeju Island, Yanggu-gun in Gangwon Pro
Feb. 26, 2024
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Lotte unveils health care media platform in Japan
Lotte Holdings has launched a health care media platform in Japan in line with its strategic initiative to strengthen its foothold in the health care sector. Initially introduced as part of Lotte Group’s digital marketing efforts in 2020, Lotte transformed the platform into an independent media corporation on Feb. 1, now officially known as Lotte Medi Palette Co., Ltd. The health care platform is fully funded by Lotte Holdings with 100 million Japanese yen ($664,000) and is represented by
Feb. 23, 2024
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Lee Si-woo becomes sole CEO at Posco
Lee Si-woo, formerly co-CEO of Posco alongside Kim Hak-dong, who served as CEO of Posco and vice chairman of Posco Holdings, will now lead the steelmaker on his own. Posco Holdings’ reshuffle released on Wednesday indicates that Kim will step down from his position and moves to the group’s executive adviser. Lee is expected to play a crucial role in guiding Posco through its transition toward carbon neutrality, while enhancing profitability and reinforcing the company's presence
Feb. 22, 2024
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AliExpress steps up engagement with Korean food brands
Chinese e-commerce platform AliExpress is in talks with Dongwon F&B to introduce the Korean food company's products on its platform, increasing engagement with Korean brands to expand its presence here. According to industry sources on Wednesday, the Chinese company has been in contact with several food businesses here, including Dongwon F&B, the South Korean food company renowned for its canned tuna products. "At present, Dongwon F&B and AliExpress are in preliminary discu
Feb. 21, 2024
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Mirae Asset Global X names Goldman veteran as new CEO
Mirae Asset Global Investments announced Wednesday that it has named Ryan O'Connor, the former global head of ETF products at Goldman Sachs, as the new CEO of its US-based exchange-traded fund subsidiary, Global X. The latest appointment comes after a thorough selection process within Global X's recent strategic repositioning following its acquisition by Mirae Asset Global Investments in 2018, the company added. Starting on April 8, the new head of Global X will be tasked with enhancin
Feb. 21, 2024
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[Photo News] AI workshop for Baskin Robbins
SPC Group on Monday opened “Workshop by Baskin Robbins,” a creative research lab for the ice cream chain to study next-generation products based on artificial intelligence and other futuristic technologies. Located at the food giant’s headquarters in southern Seoul, the company said, new and more experimental products will be introduced first via the venue to gauge consumer sentiment. (SPC Group)
Feb. 19, 2024
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Advertisers pressured to boycott Lee Kang-in
Several advertisers are facing pressure to cancel their contracts with South Korean soccer star Lee Kang-in, following the 23-year-old’s alleged discord with national soccer team captain Son Heung-min. According to industry officials on Monday, some companies intending to feature the Paris Saint-Germain midfielder in their advertisements are reevaluating their decisions, while others are considering whether to suspend existing contracts. Chicken chain Alachi, which Lee has represented sinc
Feb. 19, 2024
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CJ’s overseas food sales outpace domestic sales for 1st time in Q4
South Korean food giant CJ CheilJedang's overseas food business outperformed its domestic sales for the first time in the fourth quarter of 2023, driven by the strong performance of its flagship products in the US, Australia and Europe. On Tuesday, CJ CheilJedang reported its consolidated earnings for 2023 with sales of 29.2 trillion won ($21.9 billion) and an operating profit of 1.29 trillion won. Its food business, in particular, posed 11.3 trillion won in sales and 654.6 billion won in oper
Feb. 14, 2024
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Posco Future M’s ESG efforts recognized by S&P Global
South Korean battery materials producer Posco Future M said Wednesday that it has won the “Industry Mover” title from the S&P Global Corporate Sustainability Assessment (CSA) in recognition of its outstanding environmental, social, and governance efforts. The Korean firm earned 69 points in the annual sustainability assessment, a 33 percent jump from a year ago. Out of over 9,400 companies across 62 industries worldwide, only 41 companies, including Posco Future M, were
Feb. 14, 2024
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KT&G’s Esse hits 900b mark in cigarette sales
KT&G, South Korea’s largest cigarette manufacturer, said Wednesday that its ultra-slim cigarette brand Esse achieved cumulative sales of over 900 billion cigarettes last year. Since its launch in 1996, Esse has sold a total of 901.6 billion cigarettes, with 405.1 billion sold overseas. Last year alone, Esse sold 21.9 billion cigarettes at home and 28.9 billion cigarettes internationally. Since 2001, when KT&G started exports to the Middle East and Russia, Esse has b
Feb. 14, 2024
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Daewoo E&C chairman seeks bigger footing in India
Daewoo Engineering & Construction's Chairman Jung Won-ju, who doubles as vice chairman of Jungheung Group, met with India’s top government officials to tap into new infrastructure project opportunities in the country, the South Korean builder said Thursday. On Friday, Jung met with Dammu Lavi, the secretary for economic relations at the Ministry of External Affairs of India, in New Delhi, to express Daewoo E&C's interest in participating in projects while highlighting the
Feb. 8, 2024