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South Korea’s Doosan Enerbility Co. announced on Wednesday that executives from Manila Electric Company (Meralco), the largest power company in the Philippines, visited its headquarters in Changwon the previous day. The visit was organized to strengthen cooperation between Meralco and Doosan Enerbility on energy projects in the Philippines. The delegation included Chairman Manuel V. Pangilinan…

▲ Invitation for Galaxy Unpacked July 2024 Now it’s official. Samsung Electronics Co. is hosting its next Galaxy Unpacked summer event in Paris on July 10. Samsung picked Paris as the venue for the upcoming Galaxy Unpacked 2024 to maximize its product promotion ahead of the July 26 opening of the Summer Olympics in the…

South Korea’s Kolmar Holdings Co., Kolmar Group’s holding company, announced on Wednesday that it will implement a value-up program to enhance corporate value by canceling 2,473,000 shares, which accounts for 6.73% of the total shares. Each share is valued at 500 won, and the total cancellation amount is estimated at 19.99 billion won ($14.4 million).…

Samsung Electronics Co. announced on Tuesday that the cumulative sales of its Bespoke refrigerator in the South Korean market have surpassed 3 million units in five years. First introduced in 2019, the Bespoke refrigerator marked the advent of customized home appliances. Consumers could choose the product type, material, and color to match their preferences. This…

Dan Holton (left), senior vice president of ExxonMobil Low Carbon Solutions and Park Jong-jin, executive vice president of Strategic Procurement at SK On SK On Co. has inked a memorandum of understanding (MOU) with ExxonMobil Corp. to buy lithium extracted by the US oil giant from a salt well in Arkansas, which would open the…

Korean Air Lines Co. and Asiana Airlines Inc. have been selected for the 2024 World Airline Awards by UK-based aviation consultancy Skytrax on June 24.  This list includes both full-service and low-cost carriers. No South Korea’s low-cost carriers were named.  Qatar Airways was awarded the top spot as the world’s best airline. Skytrax based its…

(Courtesy of Getty Images) South Korean private equity investments declined last year for the first time since 2016 due to interest rate hikes, high inflation and the won that once fell to the weakest level against the US dollar, Korea’s financial watchdog found. Korean PE funds which manage institutional investors’ capital invested 32.5 trillion won…

The launching event of “Stellar Blade” on April 26, 2024 (Courtesy of Yonhap)  Shift Up Corp., a South Korean game developer behind a global hit game “Goddess of Victory: Nikke,” would raise up to 435 billion won ($313 million) from its upcoming new share sales on the country’s main Kospi bourse, which will be used…

South Korea’s CJ CheilJedang Corp. announced on Tuesday that it launched the Korean food (K-food) brand Bibigo’s store on Amazon Germany, the largest e-commerce platform in the nation’s market.  Bibigo Store offers 19 products, including seaweed snacks, sauces, dumplings, and chicken. It was the first time that seaweed snacks were introduced to Amazon Germany. The…

SK On showcases its battery at an industry fair in Seoul in March 2023 (File photo, courtesy of Yonhap) SK On Co., the world’s fifth-largest electric vehicle battery maker, plans to sell 500 billion won ($359.6 million) in its first perpetual bonds to improve its financial stability and invest in production facilities amid the sluggish…

▲ Marine Innovation Introduction Marine Innovation Co., a South Korean eco-friendly social venture company sponsored by the country’s top energy firm SK Innovation Co., is participating in the SelectUSA Investment Summit 2024 held in Washington, D.C. for four days from June 23. The summit is a high-profile event organized by the Department of Commerce to…

SK Pharmteco’s headquarters in Sacramento, California SK Inc., the holding and investment company of SK Group, South Korea’s second-largest conglomerate, is negotiating to sell a major asset of its contract drug-making unit SK Pharmteco Co. in the US to Novo Nordisk A/S, a Danish multinational pharmaceutical company. SK is in final-stage talks to sell SK…

Bundle of the US dollar and Japanese yen at Hana Bank headquarters in Seoul  South Korea’s financial assets in the US hit a record high last year due to the US stock market rally and Korean companies’ capital injection in the US clean energy and electric vehicle sectors, which are incentivized by the Inflation Reduction…

Hyundai Mobis, the world’s sixth-largest auto parts maker, announced on Tuesday that it published the Sustainability Report 2024, which includes over 3,000 patents related to future mobility obtained over the past three years. The company has published its annual sustainability report since 2010 to share its Environmental, Social, and Governance (ESG) achievements with major stakeholders.…

South Korea’s Hyundai Steel Co. announced on Tuesday that it signed a memorandum of understanding (MOU) with European customers to sell low-carbon steel sheets in response to the global carbon neutrality initiative and the Carbon Border Adjustment Mechanism (CBAM). The companies involved in the agreement are Tawesco s.r.o., one of the largest automotive parts manufacturers…

LG Uplus employees testing ixi-GEN (Courtesy of LG Uplus)  South Korean major mobile carrier LG Uplus Corp. officially launched its generative artificial intelligence model ixi-GEN on Tuesday, joining its two bigger crosstown rivals KT Corp. and SK Telecom Co. in a race to lead the business-to-business generative AI market. Its generative AI is a smaller…

South Korea’s Hanwha Life Financial Services said on Tuesday it received an A+ (Stable) credit rating from Korea Ratings, becoming the first domestic general agency (GA) to achieve a corporate credit rating. Korea Ratings noted in its report that Hanwha Life Financial Services holds a top-tier market position within the GA industry and maintains a…

LG Energy Solutions’ booth at RE+ 23, an annual clean energy trade show held in September 2023 in Anaheim, California of the US (Courtesy of LG) LG Energy Solution Ltd., the world’s third-largest electric vehicle battery maker, is poised to raise $2 billion in global bonds by the end of this month to spur construction…

Doosan Co. is poised to raise up to 80 billion won ($58 million) in bond sales this week following its credit rating upgrade as the holding company of energy and machinery-focused Doosan Group is emerging as a darling in South Korea’s BBB-rated bond market. Thanks to strong demand particularly from high-yield funds chasing BBB-rated corporate…

South Korea’s Mirae Asset Global Investments Co. announced on Tuesday that the net assets of its Mirae Asset US Dividend Premium Fund, which invests in high-quality US dividend stocks and employs a covered call strategy, have surpassed 100 billion won ($72 million). As of the closing price on June 24, the fund’s net assets amounted…

Departure terminal of Incheon International Airport, South Korea’s main gateway, on May 3, 2024 (File photo by Hyuk Choi) Competition in the South Korean travel money card market intensified as increasing overseas trips and cross-border shopping prompted credit card issuers to lure new customers with such services. Overseas payments of individual customers of South Korea’s…

Hyundai Motor’s Xcient hydrogen fuel cell truck Hyundai Motor Co., South Korea’s top automaker, will transform its commercial vehicle plant in the country into the manufacturing hub for its hydrogen-powered buses and trucks amid intensified competition with vehicles imported from China and Europe. According to industry sources on Monday, Lee Dong-seock, president and head of…

National Pension Service Chief Investment Officer Seo Won-joo (Courtesy of NPS) South Korea’s National Pension Service (NPS) Chief Investment Officer Seo Won-joo has visited Japan and Singapore on his first overseas business trip this year to share the countries’ know-how on buoying domestic stocks and asset allocation. The CIO had meetings with executives of Japan’s…

Hanmi Semiconductor CEO & Vice Chairman Kwak Dong Shin showcases its product on April 7, 2022, at its headquarters in South Korea (File photo by Moon-Chan Hur) Global chip packaging equipment manufacturers enjoyed surging demand with their share prices skyrocketing thanks to the rapid growth in the artificial intelligence industry. South Korean Hanmi Semiconductor Co.,…

South Korea’s general trading company GS Global Corp. announced on Monday that it will launch BYD Company Ltd.’s 1-ton electric truck, the T4K Refrigerated Truck. The T4K refrigerated truck is BYD’s second electric truck, following the T4K 1-ton electric truck launched by GS Global in April last year. The T4K refrigerated truck features an 82…

HiteJinro Co., South Korea’s largest soju maker, announced on Monday that it invested in a stake in the table order service startup TMR Founders, which enables customers to order menus without interacting with staff. TMR Founders operates a table order system called Taghere, based on smartphone near-field communication (NFC) functionality. This service allows order menus…

South Korean fried chicken chain bhc Chicken announced on Monday that it opened its fifth and sixth stores in Thailand. The number of stores has increased to six within five months of opening its first store in Thailand in January this year. The fifth store in Thailand is delivery-only in Bangkok’s Thonglor area, while the…

LG Display employee presents a laptop fitted with a Tandem OLED screen LG Display Co., the world’s top organic light-emitting diode (OLED) TV panel maker, is raising the stakes in Tandem OLED technology to stay ahead of its rivals amid the growing demand for artificial intelligence-powered computing. The major South Korean display maker announced on…

HD Hyundai’s container ship delivered to A.P. Moller – Maersk in January 2024 (Courtesy of HD Hyundai) South Korea’s largest shipbuilder HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) is eyeing around $3.4 billion worth of orders from CMA CGM, the global No. 3 shipping company, amid the expectation of rise in container ship…

South Korea’s LG Uplus Corp. announced on Monday that it will unveil its new integrated account management solution for cloud services Alphakey at Quantum Korea 2024, an international event exploring global trends in quantum ecosystem innovations, from June 25 to 28. Alphakey helps consolidate employee account information registered individually in various cloud services into a…

SK Group’s headquarters in Seoul SK Ecoplant Co., a South Korean construction engineering and waste management company, is seeking to absorb profit-making subsidiaries of SK Materials Co., an industrial gas business unit within SK Inc, according to people with knowledge of the matter on Sunday. The proposed merger, a deal estimated to be in the…

South Korea’s convenience store chain E-Mart24 Inc. announced on Sunday that it opened its first store in Boeung Keng Kang, a bustling district of Phnom Penh, Cambodia The 230-square-meter store features over 300 Korean products, including around 50 items from E-Mart24’s private label, No Brand. It offers popular Korean street foods such as tteokbokki, Korean-style…

LG Innotek employees show high-performance LiDAR sensors (left and right) and a heating camera module (Courtesy of LG Innotek)  LG Innotek Co., South Korea’s leading mobile camera module maker, is upping the ante to lead the automotive sensing market with high-performance light detection and ranging (LiDAR) systems and advanced automotive camera modules, intending to generate…

South Korea’s Lotte Home Shopping announced on Monday that it plans to establish a joint venture, The Edition Health, with H.Pio, a specialized health functional food company and a subsidiary of the Danish Food Cluster, Denps, to develop and sell protein health foods. Lotte Home Shopping and H.Pio have agreed to jointly invest 2 billion…

Executives from Hyundai Glovis and Woodside Energy at HD Hyundai Samho for the naming ceremony for the Woodside Scarlet Ibis, an LNG carrier Hyundai Glovis Co., the logistics unit of South Korea’s Hyundai Motor Group, is entering the liquefied natural gas transportation business with its first LNG carrier, the Woodside Scarlet Ibis. The company said…

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Bmonument’s d’Alba brand is a fast-growing Korean beauty brand (Screenshot captured from its website) South Korea’s promising beauty and healthcare device startups are looking to go public on the domestic bourse to scale up after gaining popularity among youths in overseas markets. Unlike their predecessors, which focused on China, the world’s largest consumer market, the…

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A community solar farm in Illinois (Courtesy of Hanwha Q Cell) Hanwha Q Cell Co., better known as QCells in overseas markets, has signed a solar panel supply and partnership agreement for energy storage system (ESS) management with Summit Ridge Energy (SRE), the largest US solar company, Hanwha Solutions Corp. said on Friday. The agreement…

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KT’s operating profit margin stays at a single-digit level KT Corp., South Korea’s largest telecom service provider, is slated to make an organizational reshuffle next month to reinforce its business-to-business (B2B) services with a focus on media and artificial intelligence, according to telecom industry sources on Friday. The timing of the reshuffle is unexpected, but…

Bundles of US dollars at a Hana Bank branch in Seoul (Courtesy of News1) South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, said on Friday it has agreed with foreign exchange authorities to increase the upper limit of currency swap deal from the current $35 billion to $50 billion to mitigate exchange…

Lotte Energy Materials CEO Kim Yeon-seop at InterBattery Europe 2024 in Munich, Germany MUNICH – Lotte Energy Materials Corp. is one of South Korea’s leading battery materials specialists. Formerly known as Iljin Materials Co., Lotte Energy has been in the industry for decades, supplying its products to global electric vehicle battery makers, including China’s BYD,…

Trading floor of Hana Bank in Seoul on June 21, 2024 (File photo, courtesy of News1) MSCI Inc. maintained South Korean stocks in its emerging market list as the government kept its blanket short-selling ban, denting the country’s hopes to attract more foreign capital to Asia’s fourth-largest economy by winning the global index provider’s developed…

Korea Zinc’s factory in Onsan, South Korea (Courtesy of Korea Zinc) South Korea’s largest zinc smelter Korea Zinc Co. is accelerating its efforts to terminate the decades-long business relations with its parent Young Poong Group by dominating the group’s affiliate Sorin Corp. boardroom. Korea Zinc said on Thursday that it nominated four new board members,…

Delivery robots in collaboration between Yogiyo and Neubility Yogiyo, South Korea’s second-largest food delivery app, announced on Friday that it will begin outdoor autonomous robot delivery tests in Songdo, Incheon, starting this August. To facilitate this, Yogiyo has signed a business agreement with Neubility, an autonomous robot service company, for the autonomous robot delivery service…