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Fashion and cosmetics retailer Shinsegae International said Tuesday it appointed a luxury fashion expert William Kim as its new CEO, in a bid to strengthen the company's luxury fashion business and sharpen the company's digital edge. Kim's previous career includes having served as a chief financia...
South Korea’s largest energy company SK Innovation said Tuesday it has delivered a total of 3.6 billion won ($2.9 million) to seek shared growth with smaller partner companies, as part of a corporatewide campaign now in its sixth year. Of the fund, 3.2 billion won came from the 1 Percent Happines...
Samsung Biologics, the country's largest contract manufacturing company, will run its production lines at full throttle during the upcoming Lunar New Year's holiday to ensure timely delivery of pouring orders, industry sources said Tuesday. An official from Samsung Biologics also noted the company...
South Korea’s Ministry of SMEs and Startups said Monday it has forged a partnership with the United Arab Emirates to boost cooperation in nurturing startups. The ministry signed a memorandum of understanding with the UAE’s Ministry of Economy to step up as a major partner country for Dubai’s En...
Hyundai Motor Group said Monday it would operate 58 vehicles during the World Economic Forum in the Swiss city of Davos this week to promote South Korea’s bid to host the 2030 World Expo in Busan. As a means to echo Busan’s sustainability vision for the World Expo, the carmaker offered 45 EV mod...
LG Energy Solution, South Korea’s largest electric vehicle battery maker, and Hanwha Group, a defense and energy giant, are teaming up to seek business synergy in the burgeoning battery market, they said in a statement on Monday. According to the statement, LG Energy Solution and three Hanwha com...
Korea Herald correspondent SAN FRANCISCO -- ABL Bio will release the results of early stage clinical trials regarding the company's oncology treatment candidates in this year, with hopes in license-out opportunities. “ABL Bio expects to introduce favorable clinical data regarding the company’s ...
South Korea's high-tech industries such as nuclear power plant operators, mobility, aerospace, materials and parts and biotechnologies are expected to benefit heavily from United Arab Emirates' 30 billion dollars’ worth of investment, according to industry insiders Monday. According to the Minist...
SK Group, South Korea’s semiconductor-to-telecommunications conglomerate, said Monday it had signed a partnership deal with the United Arab Emirates’ sovereign wealth fund to tackle climate change together by establishing a carbon credit market in Asia. SK Group Chairman Chey Tae-won, who double...
The number of counterfeit South Korean banknotes touched a record low in 2022, amid a surge in cashless transactions fueled by the coronavirus pandemic, the Bank of Korea said Monday. The number of counterfeit banknotes identified stood at 150 last year, down from the previous record low of 176 a ...
After Korea’s central bank delivered yet another rate hike, market participants have begun to anticipate the end of the monetary tightening cycle is near. Seeking to fight inflation, the Bank of Korea continued a streak of seven consecutive rate hikes, jacking up the key rate by another 25 basis ...
South Korean internet giant Naver on Friday unveiled a slew of new projects aimed at giving Poshmark, the US reselling platform it acquired early this month, a technological edge and returning it to profit. Naver took over Poschmark for $1.31 billion on Jan. 6, in its largest-ever deal. As their ...
As Woori Financial Group is set to hold its meeting for selecting the next chairman candidates on coming Wednesday, eyes are now on whether the current head Son Tae-seung will be able to secure a reappointment for a third term. Son’s second term ends in March. A Woori Financial Group official to...
LG Electronics said Sunday it has added a new production line for dryers at its Tennessee plant in the US, with aims to ramp up production of premium home appliances and bolster its responsiveness to market demand. Adding to the existing two production lines for washers built in 2018, a total of t...
HWASEONG, Gyeonggi Province -- Despite burgeoning demand for electric vehicles, one key concern among consumers is the huge high-voltage battery pack carries a fire risk. In an apparent move to ease such concerns and show off its latest safety technology, Hyundai Motor Group conducted a rare crash...
KT, Mongolia team up on rare earths supply
[Newsmaker] [KH Explains] Are ex-bureaucrat execs a boon or bane for banks?
SMEs Ministry readies plans to bolster support for exports
Samsung’s crisis management system wins IOS certification
LG denies decision to pull out of 4th battery plant with GM
Lotte Duty Free wins rights to run Melbourne Airport shops
Hyundai-Kia EVs post double-digit market share in Europe
Korean biotech lobby expresses concerns over Biden executive order