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In a whirlwind of fierce competition, Chinese e-commerce powerhouses AliExpress and TEMU have been dampening the once-vibrant spirit of retail business startups in Korea. The surge of Chinese e-commerce companies has delivered a significant blow to Korea's startup scene. Their mega-scale, low-cos...
Hugel, a South Korean botulinum toxin company, announced Monday that the US Food and Drug Administration has granted marketing approval for the company’s botulinum toxin, Letybo. Hugel expects to launch Letybo in the US in mid-2024. "The Canada launch of Letybo last year laid a solid foundation ...
Korean automakers are grappling to maintain their export momentum due to a shortage of car carriers to transport them, driven by the increasing volume of Chinese automotive exports and stringent maritime environmental regulations. The scenario has led to an unprecedented rise in the cost of charter...
The battery associations of South Korea, the US, the EU and Japan announced the launch of the World Battery Forum in Seoul on Monday. The WBF has been established to accelerate the battery industry's net-zero energy transition, analyze worldwide battery regulations to push for an eco-friendly ener...
Hanwha Foodtech has acquired the US-based robot pizza brand, Stellar Pizza, as part of its efforts to drive technological innovation in the food service industry. In January, Hanwha Foodtech signed a memorandum of understanding with Serve Automation, the parent company of Stellar Pizza, for a tran...
Kumho Tire, South Korea's second-largest tire maker, said Monday it has forged a technology licensing agreement with Saudi Arabian tire maker Blatco. Under the agreement, Kumho Tire will provide Blatco with technology support for the production of passenger car tires sold in Saudi Arabia and the M...
South Korean shipper HMM said Monday it has signed a "green sailing service" deal with German logistics firm HellMann for the trading of reduced carbon emissions. HMM, South Korea's top container shipping company, said it marks the company's first-ever green sailing service contract. HMM didn't di...
Hyundai Motor, South Korea's leading automaker, on Monday announced the release of a redesigned version of its Ioniq 5 electric vehicle. The revamped Ioniq 5 features an increased battery capacity, growing from 77.4 kWh to 84.0 kWh, which in turn increases its all-electric range. It can travel up ...
In just nine days of its release, a 16-second video featuring trot singer Lim Young-woong posted on YouTube by Hana Bank has garnered over 6.8 million views as of Sunday. The video introduces the 32-year-old singer as the new face of Hana Financial Group, one of Korea's top five financial conglome...
InterBattery 2024, the largest battery industry exhibition in Korea, will take place at the COEX Convention and Exhibition Center in Gangnam-gu, Seoul, from March 6 to 9, attracting 579 companies from 18 countries and nearly 75,000 attendees for a comprehensive showcase of innovation, industry conf...
Korean energy and environmental solutions provider SK Ecoplant said Thursday that the company will work together with the China State Construction Engineering Corp. on a 2.6 trillion won ($1.9 billion) green hydrogen project in Egypt. SK Ecoplant, CSCEC and the Egyptian government signed a memoran...
Earlier this week, Apple announced that it will ditch its decade-long electric car project, saying more resources will be poured into artificial intelligence in the future. An Apple-made electric car had long been a buzzword across industries. Carmakers had braced for a direct threat, while tech r...
French luxury fashion house Chanel has closed its boutique within a Seoul department store, citing operational disruptions caused by Italian rival Gucci. "Chanel has decided to close its boutique in the Galleria Department Store Luxury Hall starting Wednesday due to the department store's plan to ...
Korea Ginseng Corp., the country’s leading ginseng product manufacturer, said on Thursday it has made a foray into the US market by unveiling its vegan skincare brand, Lab 1899. As the global leader in vegan product consumption, the US market commands a 35 percent share of the worldwide vegan pop...
Hyundai Engineering & Construction, South Korea's construction giant, announced on Thursday its search for additional tenants at Hillstate Dongtan Forest, a public-supported private rental apartment complex in Dongtan, Gyeonggi Province. The complex, featuring eight 20-level buildings and offering...
[From the Scene] KG Mobility poised to take next leap
Samsung Biologics Q1 earnings hit all-time high
KGC eyes broader customer base with Lim Young-woong
Korean robot startup aims to transform human walking
Coway launches Berex massage bed with enhanced usability
Hyundai Mobis breaks ground for W170b Spain plant