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South Korean bakery giant SPC Group has been fully absolved of a 64.7 billion won ($46.8 million) fine, as the Supreme Court upheld a ruling in the company's favor in its lawsuit against the nation's antitrust watchdog for allegedly unfairly supporting its affiliates. The Supreme Court confirmed o...
HD Hyundai Heavy Industries has launched the Miguel Malvar, the first of two corvettes ordered by the Philippine Navy in 2021. A corvette is the smallest type of warship used for coastal patrols, surveillance and escort duties. The Miguel Malvar is scheduled for delivery to the Philippine Navy by ...
Korea's sole all-cargo airline Air Incheon has been named the preferred bidder for Asiana Airlines' cargo freighter division, paving the way for it to expand its business routes to the Americas and Europe. The purchase price is estimated to range between 450 billion won and 500 billion won ($325-mi...
Chang Jae-hoon, president and CEO of Hyundai Motor Group, has been named as co-chairman of the Hydrogen Council, a global coalition of CEOs committed to speeding up hydrogen-based energy transition. The Hydrogen Council announced Tuesday Chang's appointment to replace Yoshinori Kanehana, chairman ...
HiteJinro, the nation’s No. 1 soju maker, has set its goal of hitting 500 billion won ($362 million) in soju sales overseas by 2030, an ambitious three-fold growth from last year. The new growth vision, marking the company’s centennial this year, was unveiled June 12 at a press conference held i...
Lufthansa Group CEO Carsten Spohr visited Seoul earlier this month to renew his commitment to the Korean market, where demand for premium airline services continues to grow. "We see tremendous potential in the Korean market and will strive to offer a premium experience to Korean customers with our...
Notably, a segment of the organization, the Madusan Electric Vehicle Technology Exchange, is allegedly “importing and selling electric vehicles in collaboration with leading overseas electric vehicle manufacturers and service companies.” The video showcases a North Korean, Madusan-branded electr...
SK Group Chairman Chey Tae-won on Monday issued an apology for raising public concerns with his high-profile divorce settlement, but made it clear that he will appeal to the Supreme Court because a “flagrant error” was found in the court ruling that now threatens his grip on the telecom-to-chips ...
Hyundai Motor India has officially submitted an initial public offering application to the Securities and Exchange Board of India to raise approximately $3 billion, potentially setting a record as the largest IPO in the country’s history. On Monday, Hyundai confirmed in a corporate disclosure tha...
AliExpress, the fast-growing e-commerce platform owned by Chinese tech giant Alibaba Group, is rumored to be considering buying Korean discount store chain Homeplus and its nationwide logistics network, making its Korean rivals nervous about the growing presence of Chinese retailers on their home t...
Hanjin Logistics Corp., an affiliate of domestic airline-to-logistics conglomerate Hanjin Group, said Monday it is expanding its logistics network in Europe with plans to launch two new locations, in Hungary and Morocco, this year alone. The new initiative follows an assessment of the market poten...
For the first time, a Korean high-speed rail vehicle will be deployed internationally, with Uzbekistan as the destination. Hyundai Rotem announced Friday that it has secured a 270 billion won ($194 million) contract to supply and maintain power-distributed high-speed trains for Uzbek Railways in c...
HD Hyundai organized gravesite cleanup services at Seoul National Cemetery and Yeongcheon National Cemetery in North Gyeongsang Province to honor the Korean Patriots and Veterans Month of June. A total of 140 employees participated in these volunteer services on June 14 and May 24. They began by p...
Top conglomerates in Korea are set to hold their strategic meetings this month to navigate the ongoing economic slowdown and geopolitical uncertainties according to industry sources on Sunday. Samsung Electronics, the country's No. 1 conglomerate in terms of assets, will kick off its series of str...
Below the 240-mm circular OLED installed in the middle part of the front side, there are only 10 buttons and knobs that control the vehicle’s basic functions such as starting the engine, the audio volume, gears and emergency light. Everything else can be controlled by touching the circular OLED. T...
Posco threads new life to old uniforms for Philippine communities
NCSoft releases sustainability report to meet global green standards
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Hana chief cleared of severe punishment in DLF crisis
NCSoft launches official Discord channel for Throne and Liberty
Qoo10 liquidity crisis sparks massive complaints, fears of wider damage