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Still, he understood why many foreign activist funds have long been associated with the infamous nickname “meoktui funds.” “It is because they often opt for an approach that solely emphasizes American-style efficiency without considering the unique sentiment and corporate culture of Korean inve...
Toyota’s premium brand Lexus on Wednesday announced the Korean launch of its first battery-powered electric vehicle, the all-new electric RZ 450e, marking a shift from its hybrid EV-focused business portfolio. “Korea is a key market for understanding the latest trends of (the) automotive market ...
Hana Bank announced on Wednesday that it has renewed its official sponsorship contract with the Korea Football Association and the Korean national football team. "Hana Bank will continue to support the Korea Football Association and the national football team. We have been together during importan...
South Korean telecommunications giant KT Corp. said Wednesday it will diversify its artificial intelligence-related business portfolio to post 1.3 trillion won ($1 billion) in annual sales in the burgeoning sector alone by 2025. “KT has been newly focusing on three AI sectors -- robotics, health ...
Ahead of this year’s vacation season, carmakers are increasingly launching crossover vehicles that combine the comfort of sedans with the roominess of SUVs. Swedish carmaker Volvo is no exception. Its crossover lineup, dubbed “Cross Country,” offers an “All-Road Package” suitable not only for...
South Korean steel giant Posco said Wednesday it has teamed up with Industrial Bank of Korea to seek shared growth with its Indonesian suppliers and boost the Southeast Asian country’s steel industry overall. Their respective Indonesian units – PT Krakatau Posco and PT Bank IBK Indonesia – sign...
South Korea’s top conglomerate chiefs were to meet with French President Emmanuel Macron in Paris on Wednesday, as they are in Paris to promote Busan's bid to host the 2030 World Expo. According to industry sources on Wednesday, the four chiefs of Korea’s top conglomerates -- Samsung Electronics...
An international court’s decision sentencing South Korea to pay a US hedge fund about $108.5 million in losses caused by the government’s meddling in the 2015 merger of two Samsung units may affect other pending rulings on investor-state dispute cases involving the country. Elliott Investment Ma...
South Korea's global competitiveness ranking fell by one notch this year, as the country suffers from an expanding fiscal deficit, a report showed Tuesday. Korea ranked 28th in terms of global competitiveness among 64 countries surveyed, according to the 2023 report by the International Institute ...
The chief of the state-run Korea Development Bank said the plan to relocate its headquarters from Seoul to Busan is underway, despite the continued resistance from its employees. “The relocation to Busan is not to reduce or substitute the functions of the bank, but to add a new role of encouragin...
Information technology service provider LG CNS will accelerate business cooperation with Chung-Ang University to foster talent for its security business, the firm said on Tuesday. LG CNS signed an industry-academia cooperation agreement for manpower development in digital experience with Chung-Ang...
In the NGA, some 100 tech firms, including the US’ top three telecommunication companies, are participating to pursue cooperation in the 6G tech industry. Global tech giants such as Qualcomm, Nokia and Ericsson, are leading the other five working groups, covering technology and national 6G road ma...
South Korean chipmaker SK hynix has obtained a high-level European certification recognizing its competency in automotive software development processes, the firm said Tuesday. It also marks the first time a Korean chipmaker has obtained the Automotive Software Process Improvement and Capability D...
South Korea's no. 1 e-commerce operator, Coupang, and its local archrival, Naver Shopping, are dominating the South Korean e-commerce industry, taking up some 65 percent of the local market, according to a survey Tuesday. According to the consumer data analysis platform Opensurvey's research on 2,...
BGF Retail, the operator of South Korean convenience store chain CU, announced Tuesday that the company will expand its convenience store business into Kazakhstan. The firm plans to open the first CU store in Kazakhstan during the first half of next year and establish around 500 branches in the co...
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