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Top memory chipmaker to stick to production cuts, hopes for turnaround in H1 Samsung Electronics said on Wednesday it narrowed the size of the semiconductor deficit in the October-December period, as a result of its ongoing chip production cut efforts. “As we revised down (the chip output), the ...
Posco Group and the United Arab Emirates' Abu Dhabi National Oil Company will collaborate on blue hydrogen production facilities in Gwangyang, South Jeolla Province, Posco International said Wednesday. Posco International, Posco Holdings and ADNOC signed a three-way strategic collaboration agreeme...
Korean Air said Wednesday that its planned merger with smaller domestic rival Asiana Airlines has gained approval from Japan’s antitrust regulator, with only two crucial decisions left to come from the European Union and the US. According to the airline, the Japan Fair Trade Commission approved t...
South Korean food manufacturer Samyang Foods said Wednesday it posted 1.19 trillion won ($893 million) in sales and 146.8 billion won in operating profit last year -- the highest figures in the company's history. According to the company, its sales and operating profit rose by 31 percent and 62 pe...
But the now-common use of "mayak" in brand names, especially food items, could get restricted in the coming months as the nation’s food agency has recently announced new labeling guidelines for businesses. The Ministry of Food and Drug Safety said last week that local businesses are advised not t...
The Industrial Bank of Korea on Tuesday said it is recruiting participants for the second “IBK Changgong Silicon Valley Accelerating Program,” which aims to give emerging ventures and startups momentum in the overseas market. IBK has joined hands with 500 Global, an international venture capital...
Samsung SDI said Tuesday it posted an all-time high revenue last year with robust growth in sales of electric vehicle batteries. In its earnings report, the company said annual sales revenue soared 12.8 percent to 22.7 trillion won ($17.1 billion). Its operating profit, on the other hand, dropped ...
LX Pantos, the logistics arm of LX Holdings, said Tuesday that it has signed a partnership with Korea East-West Power Corp., an affiliate of the state-run Korea Electric Power Corp., to ramp up production of eco-friendly solar power as part of its efforts to cut emissions. Under the agreement, LX ...
The South Korean government has disapproved global investment firm BlackRock's proposal to construct an extensive offshore wind power plant in South Jeolla Province due to insufficient evidence of financial ability and lack of electricity infrastructure in the area. According to energy industry so...
A recent survey released Tuesday by Encar, the largest used car platform in Korea, has revealed a shift in consumer preferences toward gasoline vehicles for new car purchases in 2024, with them regaining prominence over hybrids and electric vehicles, which were the top choices in 2022. The survey,...
Samsung Electronics said on Tuesday it is starting sales of its latest flagship smartphone the Galaxy S24 globally, largely buoyed by record preorders made at home over the past week. The new phone, dubbed the world’s first smartphone powered by artificial intelligence, is expected to hit the she...
Daewoong Pet, the pet health care arm of Daewoong Pharmaceutical, seeks to gain growth momentum by launching veterinary drugs and securing patent exclusivity as the need for veterinary care continues to surge amid an aging pet population. The firm's main aim is to develop and introduce drugs with ...
The US Chamber of Commerce has openly opposed a proposed act aimed at preventing unfair market activities by major online platform players, voicing concerns over the country’s apparent rush to pass the law. Charles Freeman, senior vice president for Asia at the US Chamber, issued a statement warn...
Samsung Biologics shares extended a rally Tuesday on upbeat sentiment that the company may be benefiting from US-proposed legislation that aims to restrict Chinese biotech firms from accessing the all-important American market. Last week, members of a bipartisan House Select Committee introduced a...
Fears over a future US decoupling from China and protectionist policies are looming large among South Korean companies as former US President Donald Trump emerges as the potential Republican presidential nominee in this year's election. One of the most substantial risks of a possible second term f...
Korean builders nervous about possible setbacks in Middle East
HD Hyundai chair receives honorary doctorate from HUFS
SC Bank Korea offers special interest rate for new members
Hyundai-Kia marks 40 years of partnerships with over 100 suppliers: report
Samsung expected to introduce new Exynos processor in next Galaxy series
Woori, KB ink QR code payment partnership with Cambodia