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Kakao Mobility, South Korea's top taxi-hailing service operator, said Wednesday it has reappointed its CEO for another year, despite the state financial watchdog's recommendation to replace him amid allegations of accounting fraud. In a general shareholders' meeting, Kakao Mobility voted to keep R...
Coupang, South Korea's leading e-commerce company, said Wednesday it will invest 3 trillion won ($2.23 billion) for the next three years to expand its renowned "rocket delivery" nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eig...
The Genesis Magma program, led by the display of the GV60 Magma Concept, will add a new dimension to the luxury auto brand as it expands into the territory of high-performance vehicles, according to Hyundai Motor Group. The automaker said the plan is to ultimately develop a high-performance Magma ...
Kia Corp. on Tuesday announced it has appointed two former designers from Mercedes-Benz and BMW to head its design centers in Europe and China, respectively. Oliver Samson, previously with Mercedes-Benz, and Lim Seung-mo, formerly of BMW, will take on their new roles as head of the Kia Design Cent...
Lotte Chilsung Beverage Co., the beverage arm of the South Korean conglomerate Lotte Group, said Tuesday its flagship product, Chilsung Cider, has received global recognition for its high-quality taste. Chilsung Cider was honored with the superior taste award, receiving three stars, the highest di...
After topping the sales charts in South Korea’s import car market last year, BMW Korea is looking to sustain its momentum with its new 530e, a plug-in hybrid model that is part of its 2024 eighth-generation 5 Series lineup. Introduced earlier this month, the 530e complements the 2024 lineup of ga...
Hyundai Motor said Tuesday it has unveiled two new Genesis concept vehicles in New York as it strives to further strengthen the independent Genesis brand. Hyundai Motor introduced the brand's first flagship electric SUV concept, the Genesis Neolun Concept, and the GV60 Magma Concept, which is an u...
Kia, South Korea's second-biggest carmaker, said Tuesday it has hired two former Mercedes-Benz and BMW designers for its operations in Europe and China in the latest move to strengthen its design capabilities. Former Mercedes-Benz designer Oliver Samson and former BMW designer Lim Seung-mo will be...
The new CEO of Kyobo Life Insurance, the nation's leading life insurer, has pledged to achieve "sustainable growth" that benefits all stakeholders. Upon assuming office on Monday, CEO Cho Dae-kyu cautioned about the life insurance industry's current challenges, citing "stagnant growth and declinin...
LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally. “The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Ko...
Hyundai Motor Group ranked second behind Tesla in terms of electric vehicle sales in the United States in January, a report showed Monday. Citing statistics from S&P Global Mobility, Automotive News said the Korean auto conglomerate’s three brands -- Hyundai Motor, Kia and Genesis -- combined for...
Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as wel...
Hanwha Ocean, the world's third-largest shipbuilder by order backlog, said it has received an order worth 2.4 trillion won ($1.8 billion) to build eight liquefied natural gas (LNG) ships. Hanwha Ocean will build eight LNG carriers at its shipyard on Geoje Island, 330 kilometers south of Seoul, for...
L&F, a South Korean cathode material company, said Monday it has signed a 13.19 trillion-won ($9.85 billion) deal to supply high-nickel cathodes to SK On, the battery unit of chip-to-construction conglomerate SK Group. L&F will supply 300,000 tons of high-nickel cathode materials for SK On's car b...
South Korean rechargeable battery materials company EcoPro said Monday it has invested $11 million in a stake of a nickel smelting factory in Indonesia to secure the key battery material. In the latest investment, EcoPro acquired a 9 percent stake in Green Eco Nickel operated by China's battery ma...
Korea’s top finance firms put aside W1.7tr for Hong Kong-tied ELS compensation
Samsung mobile chief, Google device head meet in Seoul
Posco Future M, Honda to launch battery materials venture in Canada
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
Experts raise concerns about Japan putting pressure on Naver over Line
SK hynix profits soar on AI chip boom