Koreans Daily - : BUSINESS

Korean Air says Asiana integration costs could reach 1 tln won, offset by 2028

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- Korean Air Co. said Friday the cost of integrating As...

(2nd LD) Seoul stocks take breather after 6-day rise on profit-taking

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- Seoul stocks took a breather Friday after enjoying a ...

(LEAD) Seoul stocks take breather after 6-day rise on profit-taking

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- Seoul stocks took a breather Friday after enjoying a ...

Seoul stocks take breather after 6-day rise on profit-taking

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- Seoul stocks took a breather Friday after enjoying a ...

(URGENT) Seoul stocks snap 6-day winning streak on profit-taking, Iran uncertainty

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

fairydust@yna.co.kr (END)

(LEAD) Gov't to seek dismissal of heads of 2 public firms following review

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- South Korea will seek to replace the heads of two pub...

Gov't to seek dismissal of heads of 2 public firms following review

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- South Korea will seek to replace the heads of two pub...

S. Korea's current account surplus with U.S. slips in 2025: data

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- South Korea posted a drop in its current account surp...

Seoul stocks sharply up late Fri. morning on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 20 Jun 2026 21:00:11 +0900

SEOUL, June 19 (Yonhap) -- Seoul stocks traded sharply higher late Friday mornin...

Doosan on track for growth as portfolio aligns with AI industry

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

Doosan Group is expected to post strong growth as its key businesses are increasingly aligned with the core supply chain of the artificial intelligence (AI) industry. According to market tracker FnGuide, the consensus estimate among brokerages for Doosan Corp.'s second-quarter earnings is 5.5 trillion won ($3.62 billion) in sales and 465 billion won in operating profit, up 3 percent and 30 percent year-on-year, respectively. Doosan Corp. is the holding company of the conglomerate but is gaining market attention with its own electromaterials business, which supplies copper clad laminates (CCL) to chipmakers. CCL is a key material used in advanced chip substrates and printed circuit boards found in virtually all electronic devices. As AI servers and high-performance computing systems require fast processing of massive amounts of data, demand is growing for high-frequency, low-loss CCLs. In the first quarter of this year, the business group’s sales reached 617.3 billion won, growing 53.2 percent year-on-year to set a new record. Operating profit soared 59.9 percent year-on-year to stand a

Card issuers turn to small-business lending as consumer loan curbs squeeze growth

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

As Korea’s financial authorities continue tightening their grip on household debt, card issuers are looking beyond personal card loans for growth, with many expanding into lending for sole proprietors and small-business owners, according to industry officials Thursday. In recent years, card companies have relied on card loans to offset slowing growth in their transaction fee incomes. Carrying higher interest rates than bank loans but requiring no collateral, these have become a popular source of quick funding for borrowers with limited access to mainstream credit. That appeal has also made them a target of regulators. Authorities regard card loans as a significant contributor to household leverage and have sought to restrain their growth as part of a broader campaign to curb debt accumulation and cool speculative demand in the property market. Pressure on the sector intensified this week after several major card issuers exceeded regulatory targets for outstanding card loan balances. The Financial Supervisory Service summoned the companies on Monday and urged them to strengthen interna

BioTNS selected as host of gov't's ultra-precision digital PCR project

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

BioTNS, a Korean molecular diagnostics company, was selected as the host organization to spearhead a 30 billion won ($19.53 million) government program to set up technical standards for ultra-precision digital Polymerase Chain Reaction (dPCR) diagnostics, according to the company, Friday. With 15 institutions participating, the program is a seven-year initiative to secure global leadership in next-generation molecular diagnostics by establishing technical standards for dPCR. Through the program, the government seeks to overcome the core limitations of legacy molecular testing methods and build a critical infrastructure for ultra-precision medicine based on domestic technologies. Along with BioTNS, the consortium includes six companies, two state-backed research institutes and seven university hospitals. Participating companies include Gencurix, Hanil Scientific, JNP Medi and Omicsyn, while GC Labs will support clinical validation and commercialization. The National NanoFab Center and the Korea Research Institute of Bioscience and Biotechnology will provide technology support. Seven hosp

Hyundai Rotem secures $487.3 mil. railway maintenance project in Morocco

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

Hyundai Rotem said Friday it has secured a railway maintenance contract worth 748.2 billion won ($487.3 million) in Morocco, building on a major train supply deal previously signed with the North African country. The defense and railway equipment unit of Hyundai Motor Group signed the agreement with Morocco's national railway operator, ONCF, in the capital city of Rabat on Thursday (local time). The project covers the maintenance of all 440 train cars to be supplied by Hyundai Rotem and will be carried out over a 20-year period through a joint venture established by the company and ONCF. The deal follows Hyundai Rotem's 2.23 trillion-won contract secured in February last year to supply double-decker electric trains to Morocco. The trains are expected to operate on routes connecting major cities centered around Casablanca as the country prepares to co-host the 2030 FIFA World Cup.

AI race pushes LG CNS and Doosan into broad technology alliance

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

As companies scramble to secure an edge in artificial intelligence and automation, LG CNS and Doosan Corp. have agreed to join forces in a wide-ranging partnership that stretches from agentic AI and robotics to data centers and cloud computing. The companies signed a memorandum of understanding Thursday at LG Sciencepark in Seoul to strengthen their competitiveness in emerging technology businesses, including AI transformation, robot transformation, data centers and cloud services. The agreement brings together LG CNS’ digital transformation capabilities and Doosan Corp.’s industrial technology expertise at a time when businesses are investing heavily in AI-driven productivity and next-generation infrastructure. Under the deal, the companies said they will establish a joint business cooperation body within one month and develop detailed plans for collaborative projects. One of the central pillars of the partnership is AI transformation. LG CNS said it will leverage its enterprise agentic AI platform, AgenticWorks, to help strengthen Doosan Corp.’s agentic AI capabilities and develop

Global memory chip market to quadruple in 2026: data

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

The global memory chip market is expected to more than quadruple this year from a year earlier, driven by growing investment in artificial intelligence (AI) infrastructure, industry data showed Friday. The global memory market is projected to reach 1,500 trillion won ($975 billion) in 2026, up 4.2 times from 360 trillion won recorded last year, according to data from industry tracker Counterpoint Research. The sharp growth is attributed to surging demand for server memory products, including dynamic random-access memory (DRAM) and NAND flash memory, as tech companies, particularly in North America, ramp up investments in AI infrastructure. Server memory products are expected to account for 56 percent of total memory revenue this year, up from 37 percent in 2025, surpassing the halfway mark for the first time. Counterpoint Research said the structural shift toward server-oriented memory products has become a key driver of growth in the memory market. The research firm added that widening supply-demand imbalances stemming from strong server memory demand are pushing memory prices higher, wi

Indonesian candy Kopiko steals scenes in K-dramas

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

Indonesian candy brand Kopiko is stealing scenes in Korean TV and online streaming series. For years, viewers have watched characters in shows popping the sweet into their mouths, with the label prominently displayed. It is not a coincidence: Macrocom, a Seoul-based importer, has paid for the candy's product placement in more than a dozen shows since 2021. It started with "Vincenzo" on tvN, continuing with "Castaway Diva" on the same network in 2023, "Connection" on SBS in 2024, and most recently, "Brave New World," which is currently airing on SBS and Netflix. Macrocom and the brand’s manufacturer PT Mayora Indah Tbk, a major consumer goods company in Indonesia, began targeting the Korean dramas as a way to promote Kopiko. Their strategy for TV producers to show characters eating them to relieve stress and remark on its deliciousness. Over the past four years of TV exposure, Kopiko has built up its brand recognition here, leading to a boost in sales. GS25, a major convenience store franchise brand, sold more than 200,000 packages in a month after it went on shelves in 2024 for 1,000

Public power generation firms' proposed merger sparks debate

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

A third-party analysis proposing that the government merge Korea's five state-run power generation companies to streamline structural inefficiency is prompting debates, with civic groups arguing Friday that the merger would still fail to incentivize generators to minimize costs and ultimately expand the use of renewable energy. A day earlier, the Ministry of Climate, Energy and Environment revealed a study report conducted by Samil PwC on optimal scenarios that could improve the efficiency of five state-run power companies — Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power and Korea East-West Power. The companies were originally a singular subsidiary under the country’s exclusive state-run power distributor Korea Electric Power Corp. They were all separated in 2001 as individual entities under the government’s power industry restructuring plan. The report said merging them back is “structurally most appropriate.” It noted that while the government is seeking to introduce renewable energy-based power facilities with an overall capacity of 1

Cosmax Neo wins award for waste-reducing packaging design

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

Cosmax Neo, a functional cosmetics packaging subsidiary of the Cosmax Group, said Thursday it won a prize at the Korea Star Awards 2026, an annual national packaging competition organized by the Ministry of Trade, Industry and Resources. The company received the Korea Packaging Technologist Society President's Award for its Smudging Drop Bottle, a container that integrates dispensing and skin application functions into a single structure. When the cap is opened, a built-in applicator automatically rises. Pressing the curved top section releases a measured amount of product through an air-push mechanism, allowing users to apply contents directly to skin without touching the formula by hand. The curved dome design minimizes residue, addressing a common problem with conventional air-push containers that tend to leave excess product behind. The applicator material can be customized to client specifications, and the bottle is compatible with a range of product types including serums, essences and base makeup. The announcement also highlighted the continued international success of the Motion D

OpenAI brings ChatGPT ads to Korea, keeps paid plans ad-free

Tomas Kauer - International News Writer and Moderator — Fri, 19 Jun 2026 21:00:59 +0900

OpenAI said Friday it has expanded its ChatGPT advertising pilot program to Korea, making it the sixth market to feature ads after the United States, United Kingdom, Canada, Australia and New Zealand. Ads will appear only for adult users on ChatGPT's free and Go tiers. Users on paid plans — Plus, Pro, Business, Enterprise and Edu — will not see advertisements. OpenAI said it is applying three core principles to the rollout: keeping ChatGPT's responses independent from advertiser influence, protecting user conversation data and personal information from advertisers and giving users control over their ad experience. Ads will be clearly labeled as "sponsored content" and kept visually separate from ChatGPT's generated responses. Advertisers will have access only to aggregated performance metrics such as impressions and clicks, and will not be able to view individual users' conversation history or personal data. Users can hide ads, submit feedback and manage ad personalization settings directly within the app. Ads will not be shown to accounts identified or predicted to belong to minors,

(LEAD) Military suspends flight of Miron choppers over defective engines

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 13 (Yonhap) -- South Korea's military has suspended the flight of lo...

Military suspends flight of Miron choppers over defective engines

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 13 (Yonhap) -- South Korea's military has suspended the flight of lo...

OpenAI's Sam Altman postpones visit to S. Korea

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- OpenAI CEO Sam Altman's visit to South Korea schedule...

(2nd LD) Seoul stocks spike over 4 pct to settle again in 8,000 territory on hopes for end to Mideast crisis

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- Seoul stocks rose by more than 4 percent Friday, as i...

(LEAD) Seoul stocks spike over 4 pct to settle again in 8,000 territory on hopes for end to Mideast crisis

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- Seoul stocks rose by more than 4 percent Friday, as i...

Seoul stocks spike over 4 pct to settle again in 8,000 territory on hopes for end to Mideast crisis

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- Seoul stocks rose by more than 4 percent Friday, as i...

(URGENT) Seoul stocks spike over 4 pct to settle again in 8,000-point territory on hopes for end to Iran war

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

(END)

Stocks up nearly 8 pct late Fri. morning on hopes for end of Iran war

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- Seoul stocks were trading sharply higher late Friday ...

S. Korea signs agreement on AI standardization with partners

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- South Korea has signed an agreement with partner coun...

Banks move to rein in credit loans amid surge in leveraged stock buying

Tomas Kauer - International News Writer and Moderator — Sat, 13 Jun 2026 21:00:17 +0900

SEOUL, June 12 (Yonhap) -- Banks are fast moving to rein in a surge in credit lo...

AI model rivalry expands into defense sector

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Artificial intelligence (AI) competition is expanding into the defense sector as domestic tech firms pivot to military applications, leveraging proprietary models and infrastructure in a market where security and data sovereignty are paramount. The shift comes as Naver Cloud and NC AI move beyond the government-led foundation model competition to target a fast-forming defense AI market. Naver Cloud held a seminar on Wednesday and unveiled its strategy for sovereign AI-based defense AI transformation (AX) advancement, outlining practical pathways to deploy AI in real-world military operations. The move follows the company’s launch earlier this month of a dedicated task force for defense AI adoption, marking its first standalone organization focused exclusively on military applications. The team, under company CEO Kim Yu-won, brings together business development, strategy, engineering and deployment personnel to accelerate military AI projects. The company is positioning itself as more than a model provider, aiming instead to build a full-stack Korean defense AI platform. By combining its

Fair trade watchdog approves NS Shopping's takeover of Homeplus Express

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Korea's antitrust watchdog on Friday approved NS Shopping's takeover of the compact-format supermarket chain Homeplus Express, saying the deal is unlikely to hinder fair competition in the market. The Fair Trade Commission (FTC) made the ruling after NS Shopping, an affiliate of Harim, Korea's largest poultry-processing company, announced its plan to acquire Homeplus Express from Homeplus in a deal estimated at 120.6 billion won ($79.3 million). Homeplus Express is the super supermarket (SSM) brand of Homeplus. The FTC said it had reviewed the deal as involving 11 vertical mergers and two conglomerate mergers. A vertical merger occurs when companies operate at different stages of the same supply chain within an industry, while a conglomerate merger occurs between businesses in different industries. The watchdog said it had determined that concerns over the merger's impact on competition remain limited, given Homeplus Express' relatively small market presence. "In terms of chicken products, Homeplus Express' share of the SSM market remains low, at around 2 percent," the FTC said. "It is unli

Securities firms' Q1 net spikes 77% on increased commission income

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Securities companies in South Korea saw their net profit soar 77 percent in the first quarter of the year largely due to increased commission income from the sharp increase in stock trading, data showed Friday. The combined net profit of 61 domestic securities firms came to 4.33 trillion won ($2.83 billion) in the January-March period, compared with 2.44 trillion won a year earlier, according to the data from the Financial Supervisory Service. The companies' combined income from commission fees almost doubled to 6.69 trillion won in the first quarter from 3.33 trillion won a year earlier, aided by a surge in stock trading, while their combined income from their own investment or stock trading gained 31 percent to 4.1 trillion won over the cited period. In the January-March period, stock turnover came in at 2,775 trillion won, sharply up from the previous year's 641 trillion won, according to the watchdog. Their combined assets had stood at 1,098.4 trillion won as of end-March, up 154 trillion won, or 16.3 percent, from three months earlier, and debts gained 26.8 percent to 991.5 trillion

Worxphere bets big on baseball to win over Korean jobseekers

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Human resources technology group Worxphere renewed its marketing partnership with the Hanwha Eagles baseball club for the 2026 season, extending a corporate sponsorship aimed at tapping into professional sports’ highly engaged fan bases. The agreement, signed by Worxphere CEO Yoon Hyun-jun and Hanwha Eagles General Manager Son Hyuk at Hanwha Life Eagles Park in Daejeon, marks the third consecutive year the artificial intelligence (AI)-driven HR firm has aligned with the Korea Baseball Organization franchise. Under the terms of the deal, Eagles players will wear jerseys featuring corporate patches for Worxphere’s flagship job recruitment platforms, JobKorea and Albamon. Worxphere has also secured extensive stadium branding to position the dual platforms under its corporate umbrella, a standard but increasingly competitive customer acquisition strategy in Korean sports. The partnership relies heavily on experiential marketing to bridge digital services with physical consumers. At a recent promotional event dubbed "Worxphere Day," the company staged a viral recruitment stunt via Albamo

Korea's Hanmi Semiconductor to acquire shares of SpaceX

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Korea's Hanmi Semiconductor said in a regulatory filing Friday that it is seeking to acquire 50 billion won ($32.9 million) worth of shares in SpaceX, ahead of the U.S. space company's stock market debut. The investment, equivalent to around 7.24 percent of equity, comes amid the company's prospects on the "growth potential of Elon Musk's Terrafab and SpaceX, amid an explosive demand on advanced chips, aerospace and satellite technologies and artificial intelligence (AI)," according to the filing. Terrafab is a vertically integrated semiconductor manufacturing complex spearheaded by Musk, involving Tesla, SpaceX and xAI, an AI company founded by the U.S. billionaire. The facility is expected to start operations in 2028. Some 80 percent of chips produced from there will be used in data centers of SpaceX, while the rest will be topped on vehicles of Tesla as well as its Optimus robots. "We will reinvest the expected future returns into our core semiconductor equipment business to seek sustainable growth, while enhancing shareholder value," an official from the Korean company said. SpaceX is

CJ CheilJedang, Samyang Foods climb in brand-value rankings as global appetite grows

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Korea’s leading food manufacturers are solidifying their positions among the country’s most valuable corporate names, reflecting the food sector’s rising prominence amid broader global expansion. CJ CheilJedang and Samyang Foods both secured spots on Interbrand’s 2026 Best Korea Brands list, the companies said Friday. The annual index, compiled by the New York-based brand consultancy, gauges corporate value based on financial performance, market influence and long-term growth prospects. The inclusion of both companies highlights how processed foods have joined electronics and automotive manufacturing as primary drivers of Korea's outbound economic footprint. CJ CheilJedang retained its No. 22 spot for the second consecutive year, marking its highest placement since the ranking’s inception in 2013 and extending its appearance on the list to 14 straight years. Interbrand valued the company's brand at 1.18 trillion won ($776 million), the highest among all fast-moving consumer goods firms in Korea. The conglomerate has aggressively expanded its "Bibigo" portfolio internationally

Naver, Krafton team up to bring PUBG esports to bigger audiences

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Korean internet giant Naver Corp. has entered into a strategic partnership with game developer Krafton to expand the media and content ecosystem surrounding the hit video game franchise PUBG: Battlegrounds, Naver announced Friday. The medium-to-long-term alliance aims to capitalize on the growing intersection of livestreaming, digital communities and competitive gaming. Under a memorandum of understanding signed Friday, the two companies plan to link Krafton's intellectual property for PUBG esports with Chzzk, Naver’s proprietary video streaming platform. The integration will leverage Naver’s stable infrastructure and specialized interactive viewing features, such as its co-watching tool, which allows creators and viewers to stream and discuss live matches together in real time. Naver intends to broadcast major PUBG esports tournaments directly on Chzzk and establish formal league partnerships. By integrating Krafton's globally recognized game brand with Chzzk’s established network of creators, the platform seeks to develop exclusive broadcasts that can broaden its user base and

Oriental Brewery taps into enthusiasm for Team Korea, World Cup

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

Liquor giant Oriental Brewery (OB) hosted watch parties at restaurants in Seoul Friday for Korea's 2026 FIFA World Cup Group A match against the Czech Republic, using the events to promote its flagship beer brand, Cass. Called Cass Viewing Pubs, the events are held at restaurants that sell Cass, allowing fans to gather and cheer for the national team together. For Korea's three group stage matches this month, OB partnered with four restaurants in Seoul's trendy districts of Euljiro, Itaewon and Seongsu, as well as one venue in Suwon, Gyeonggi Province. On Friday, two barbecue restaurants in Seoul's Euljiro and Itaewon areas were transformed into temporary fan zones. At the Euljiro venue, around 300 visitors filled the outdoor seating area in front of a giant screen, wearing matching jerseys bearing the logos of the FIFA World Cup, the Korea Football Association and Cass. Cass is the only domestic liquor brand serving as an official sponsor of this year's World Cup. The attendees were selected through an application process organized by OB. As expected by the company, the combination of

OpenAI's Sam Altman postpones visit to Korea

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

OpenAI CEO Sam Altman's visit to Korea scheduled for next week has been postponed due to personal reasons, the artificial intelligence (AI) research organization and industry sources said Friday. Altman was originally scheduled to arrive in Korea on Sunday for a two-day trip that included meetings with major technology companies, including Samsung Electronics, to discuss cooperation in AI. During the visit, Altman was also expected to meet executives from portal operator Naver and mobile platform operator Kakao. "Korea is a very important country and a strategic partner for OpenAI," the company said in a statement. "Our ongoing collaborations with domestic partners will continue as planned." OpenAI added that it hopes Altman will be able to visit Korea again in the near future and meet local partners in person. The company did not disclose further details regarding the reason for the postponement or a revised schedule for Altman's visit.

Coupang’s record privacy fine sparks proportionality debate, investment concerns

Tomas Kauer - International News Writer and Moderator — Fri, 12 Jun 2026 21:00:25 +0900

The record-high 624.68 billion won ($409 million) penalty imposed on Coupang over a massive data breach is fueling debate over regulatory proportionality, as the e-commerce giant was ordered to pay more than four times the fine levied on SK Telecom for last year's hacking incident, while matchmaking company Duo received a far lighter sanction despite a breach involving highly sensitive personal information. The penalty is also casting doubt on Coupang’s ability to maintain the aggressive investment that has driven its growth, fueling speculation that the e-commerce giant could rein in future spending. On Thursday, the Personal Information Protection Commission (PIPC) imposed a 624.68 billion won fine and a 16.8 million won administrative penalty on Coupang over its data breach, involving more than 33 million users, and related privacy violations. The regulator concluded that Coupang failed to maintain even basic security safeguards, citing lax management of an authentication signing key and inadequate access controls that allowed a former employee to forge tokens and reach pages conta

(3rd LD) Nvidia's Jensen Huang holds 'samgyeopsal' dinner with Korean biz leaders

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- Nvidia Corp. Chief Executive Officer (CEO) Jensen Huan...

(2nd LD) Nvidia's Jensen Huang holds 'samgyeopsal' dinner with Korean biz leaders

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- Nvidia Corp. Chief Executive Officer (CEO) Jensen Huan...

(2nd LD) Seoul shares sink over 5 pct on tech losses amid Iran uncertainty; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- South Korean stocks dipped by more than 5 percent as i...

(LEAD) Nvidia's Jensen Huang sees robotics as next major sector for S. Korea

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- Nvidia Corp. Chief Executive Officer (CEO) Jensen Huan...

(LEAD) Seoul shares sink over 5 pct on tech losses amid Iran uncertainty; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- South Korean stocks dipped by more than 5 percent as i...

Seoul shares sink over 5 pct on tech losses amid Iran uncertainty; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- South Korean stocks dipped by more than 5 percent as i...

(URGENT) Seoul shares tumble over 5 pct on tech losses amid Iran uncertainty; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

(END)

(LEAD)(News Focus) Jensen Huang's S. Korea visit signals Nvidia's broader bet on AI ecosystem

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- Nvidia Corp. Chief Executive Officer (CEO) Jensen Huan...

Nvidia's Jensen Huang sees robotics as next major sector for S. Korea

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- Nvidia Corp. Chief Executive Officer (CEO) Jensen Huan...

Samyang's Buldak ramyeon tops 10 bln units sold, 7 tln won in cumulative sales

Tomas Kauer - International News Writer and Moderator — Sat, 06 Jun 2026 21:00:28 +0900

SEOUL, June 5 (Yonhap) -- Samyang Foods Inc. said Friday that cumulative sales o...

Citi Korea marks 'Global Community Day' with corporate clients

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Citi Korea held a volunteer activity with employees from key corporate clients at its headquarters in Seoul, Thursday, in celebration of "Global Community Day," the company said Friday. Through the creation of an upcycled collaborative artwork and art supply kits, the activity demonstrated a sustainable community engagement model that contributes to environmental protection and local community development. The event was made even more meaningful with the participation of employees from 14 major global companies that have grown alongside Citi over many years. These companies, which operate across diverse markets around the world, joined Citi Korea not only as financial partners but also as collaborators committed to fulfilling their social responsibilities and creating positive impact in the communities where they operate. Participants created a collaborative artwork on paper canvases made from discarded cardboard collected by older adults and assembled art supply kits. In particular, the activity carried special significance as it established a “resource circulation” model that suppo

Paradise Hotel Busan launches BTS-themed 'fan-cation' program

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Paradise Hotel Busan has been selected as the official hotel partner for BTS the City ARIRANG Busan, unveiling a series of immersive experiences and accommodation packages tied to BTS's upcoming Busan concert, scheduled for June 12 and 13. The BTS-themed urban entertainment project transforms an entire city into a cultural destination by incorporating the group's music and storytelling into its urban spaces. As part of the initiative, Paradise Hotel Busan will convert key areas of the property into BTS-themed experience zones. From June 8 to 21, the hotel's Ocean Pool Rooftop will feature installations inspired by "Swim," the title track from BTS's fifth studio album, ARIRANG. The rooftop will include a dedicated photo zone overlooking Haeundae Beach, an arch-shaped installation featuring ARIRANG-themed elements and branded decorations throughout the poolside bar area. The hotel's outdoor ARIRANG Garden will host themed installations from June 8 to 14, including a symbolic gateway inspired by visuals from the new album and a photo wall. Large-scale graphic wraps on the hotel's glass ext

Pop Mart opens Korea's 1st regular Hirono store in Seoul's Gwangjang Market

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Chinese trend-toy maker Pop Mart has opened Korea's first regular standalone store dedicated to Hirono, one of its most popular intellectual properties (IP), at Seoul's historic Gwangjang Market, as the company seeks to expand the character beyond collectibles and develop it into a lifestyle brand. The store, which opened Friday in central Seoul, marks Hirono's first permanent retail presence in Korea following a temporary pop-up store in the Seongsu area from April to May. It is also the fourth Hirono-themed store globally, after locations in Shanghai, Bangkok and London, each designed around local cultural references and urban identities. For Xuan Yilang, better known as Lang, the creator of Hirono, the decision to open in Gwangjang Market was closely tied to both the character's personality and the atmosphere of the neighborhood. "Korea has a very strong brand culture, and there are many brands loved by young people," Lang said in an interview with The Korea Times. "But I didn't want to choose a place that felt overly commercial." Lang said he visited Gwangjang Market several times be

Vice industry minister discusses energy security cooperation with Aramco exec

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Korea's industry ministry said Friday that it has discussed energy security cooperation with Saudi Aramco, Saudi Arabia's national oil company. During a meeting with Mohammed Y. Al Qahtani, downstream president for Saudi Aramco, in Seoul earlier in the day, Vice Industry Minister Moon Shin-hak stressed the importance of a stable crude oil and naphtha supply. Moon stressed that the two countries should cooperate in plant construction, as well as strategic oil storage and crude oil-storing infrastructure. The vice minister also called on Saudi Aramco to help Korea secure access to energy resources in case of disruption in energy supply chains.

UC Berkeley graduate creates AI-powered app to make learning Korean more immersive

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

For as long as he could remember, education was where Jang Ji-woong imagined himself making a difference. He enjoyed working with children, but he found himself thinking less about classrooms and more about access — how to bring learning opportunities to communities often left out. “I often thought Korea’s rapid modernization was driven by the extraordinary emphasis placed on schooling,” Jang said. “But having a strong desire for education alone isn’t enough, especially today. I kept wondering how people in underserved regions could gain stable access to quality education.” That interest took him to UC Berkeley, where he studied political science with hopes of eventually working for an international organization, helping expand access to learning through projects ranging from school construction to online programs. After graduation, however, his path took a different turn, as he joined a Silicon Valley e-learning startup before moving into global commerce marketing in Korea. But the question that had first drawn him to the field never entirely went away. While weighing his n

Hyundai Motor's football robot learns year of skills in 1 day

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

A humanoid robot weaving through football drills and flawlessly executing one of the sport’s most difficult trick kicks has demonstrated a profound leap in machine learning, according to technical details released Friday by Hyundai Motor and its subsidiary, Boston Dynamics. The bipedal machine, known as Atlas, managed to master the "Ghost Rabona" — a high-stakes strike where the kicking leg crosses behind the standing leg after a deceptive feint — by effectively teaching itself to play in a digital simulator before ever touching a physical ball. The display, part of a campaign for the 2026 FIFA World Cup, underscores how rapidly the line between human athletic coordination and robotic precision is blurring. Beneath the slick corporate marketing lies a profound advancement in how machines learn to navigate the physical world. According to engineering briefs published on Boston Dynamics’ official blog, football was specifically selected as a training environment because it demands a simultaneous cocktail of balance, split-second timing, and real-time physical adaptation. To bridge

Samil PwC, PwC Consulting announce leadership appointments amid AI push

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Samil PwC, Korea’s largest accounting firm by revenue, and its consulting affiliate, PwC Consulting, announced a new slate of leadership and partner appointments Friday, underscoring the firms’ growing focus on artificial intelligence (AI) and digital transformation. At Samil PwC, Jung Min-soo was named head of tax advisory. With three decades of experience, Jung previously led the firm’s domestic tax practice and advised clients on matters ranging from tax audits and disputes to refund claims. He also spearheaded the development of Tax Agent, Samil PwC's generative AI platform for tax services. The six appointed deputy leaders include mergers and acquisitions expert Kwak Yun-goo, banking and capital market specialist Kim Kyoung-koo, cross-border transactions and U.S. listings adviser Daniel Fertig, insurance specialist Lee Jun-ho, corporate governance adviser Choi Chang-yoon and mergers and acquisitions advisory expert Hong Jin-o. Among the 33 newly promoted partners are professionals specializing in semiconductors, telecommunications and insurance, as well as emerging areas such

Samsung asks BTS fans to put down their phones

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

The modern concert experience is often viewed through a six-inch screen, as fans prioritize capturing a digital souvenir over witnessing the live event. Now, in an unexpected twist, the world’s largest smartphone maker is asking K-pop fans to put their devices away. Samsung Electronics said Friday that it will launch an interactive "Immersive Concert Culture Movement" at BTS’s highly anticipated June 12 stadium show in Busan. The program, part of a global partnership with the K-pop boy band's management agency, HYBE, encourages the audience to remain present during the performance while Samsung’s own photographers capture the crowd using the new Galaxy S26 Ultra. The concert at the 53,000-seat Busan Asiad Main Stadium is part of BTS’ "ARIRANG" world tour, its first full-scale global outing since all seven members completed Korea’s mandatory military service. To entice fans to look up, Samsung is leveraging the artificial intelligence (AI) built into its latest hardware. At an on-site experience booth open until 6 p.m. on concert day, international fans can type supportive mess

Samyang's Buldak ramyeon tops 10 bil. units sold, $4.5 bil. in cumulative sales

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Samyang Foods Inc. said Friday that cumulative sales of its Buldak ramyeon series have exceeded 10 billion units and 7 trillion won ($4.5 billion) since its debut 14 years ago. The spicy noodle brand was launched in 2012 and has since grown into one of Korea's most successful food exports. Initially exported to markets including Japan, Germany and New Zealand, the Buldak series is now sold in about 100 countries around the world. The series surpassed 1 billion units sold in 2017, exceeded 4 billion units in 2022 and topped the 9 billion mark in 2025 before reaching the latest milestone. Driven by strong global demand for its Buldak series, Samyang Foods surpassed $900 million in exports last year and now accounts for about 60 percent of Korea's ramyeon exports.

Nvidia CEO Jensen Huang shares 'somaek' with Korea's top tycoons amid partnership talks

Tomas Kauer - International News Writer and Moderator — Fri, 05 Jun 2026 21:00:45 +0900

Nvidia CEO Jensen Huang visited Seoul on Friday, seven months after making headlines with a fried chicken gathering with the heads of Samsung Electronics and Hyundai Motor Group that was followed by a large-scale Nvidia artificial intelligence (AI) accelerator supply across Korea. This time, his visit is set to focus on partnerships with a broader range of Korean firms in AI applications, including robotics, physical AI, infrastructure and gaming. In addition to his business engagements, Huang is also scheduled to make a television appearance and throw a ceremonial first pitch at a baseball game, reflecting his celebritylike popularity here. Huang dined with some of Korea's top business leaders at Hyungnim Jeoyo, a casual pork belly barbecue restaurant near Hongik University in western Seoul, hours after his arrival in the country. He shared a table with SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and Naver Chairman of the Board Lee Hae-jin. Officials from Nvidia also joined the gathering. The restaurant’s name, which roughly translates to “Hey big brother, over h

S. Korea attends G7 digital ministers meeting in Paris

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- Second Vice Minister of Science Ryu Je-myung attended ...

Samyang Group to acquire Japanese chemical firm for 390 bln won

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- Samyang Group said Friday that it has decided to fully...

(2nd LD) Seoul shares close at new high on tech rally, Mideast optimism

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- South Korean stocks rebounded to a fresh all-time high...

(LEAD) (News Focus) KOSPI volatility index rises simultaneously as stock market rallies to record high

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- Even as the benchmark Korea Composite Stock Price Inde...

(LEAD) Seoul shares close at new high on tech rally, Mideast optimism

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- South Korean stocks rebounded to a fresh all-time high...

Seoul shares close at new high on tech rally, Mideast optimism

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- South Korean stocks rebounded to a fresh all-time high...

(URGENT) Seoul shares close at new high on tech rally, Middle East optimism

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

(END)

(News Focus) KOSPI volatility index rises simultaneously as stock market rallies to record high

Tomas Kauer - International News Writer and Moderator — Sat, 30 May 2026 21:00:25 +0900

SEOUL, May 29 (Yonhap) -- Even as the benchmark Korea Composite Stock Price Inde...

Demands from labor union 'huge burden' on company, says Kakao's management

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Kakao said Friday a compensation package demanded by its union could place a huge burden on the company's operations, after workers said they would proceed with a strike next month. The official statement came after Kakao's management and its labor union failed to reach an agreement in the second round of negotiations mediated by the government. Unionized workers at Kakao's five units, including its headquarters, Kakao Pay and Kakao Enterprise, had previously voted in favor of a walkout. "The total amount of compensation package demanded by the union is on the level that could place a huge burden on the company's operations," the operator of South Korea's popular messenger app said in an official statement. Early this month, Kakao's union said the company has offered only "limited" compensation to its employees, while compensation for its executives grew, despite the company posting record profits in recent years. The members are seeking to redesign its performance-based incentive structure to include restricted stock units, a form of equity compensation given out by the company. Kakao req

Korean Air, Asiana complete joint emergency drill ahead of merger

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Korean Air said Thursday it has successfully completed a joint emergency evacuation drill with Asiana Airlines cabin crew, a key milestone in the two carriers' ongoing integration process. The drill, conducted this week at Korean Air's headquarters and cabin training center in western Seoul under the supervision of aviation safety inspectors from the Ministry of Land, Infrastructure and Transport, marked the first time the two airlines' cabin crew have trained together across two different aircraft types simultaneously. Some 200 executives, employees and ministry officials attended the training, including Korean Air Vice Chairman and Chief Executive Woo Kee-hong. Twenty-eight cabin crew members — 14 from each airline — took part alongside eight Korean Air flight crew. The drill covered four areas: oral examinations on emergency landing and ditching equipment, a life raft boarding demonstration, an aborted takeoff evacuation on a Boeing 737-900 simulating an engine fire during the takeoff roll, and a water ditching evacuation on a Boeing 787-9 simulating a dual-engine failure requirin

City Oil Field signs Korea’s 1st export deal for recycled naphtha feedstock

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

City Oil Field, a company specializing in technologies that convert waste plastics into high-quality oil, said Friday that WAVE Jeongeup and Trafigura have signed a sales contract covering the entire output of naphtha-grade recycled feedstock produced at the former. WAVE Jeongeup is a facility that uses City Oil Field’s proprietary noncombustion low-temperature pyrolysis technology. The company said the deal marks the first overseas export of recycled feedstock produced with Korean-developed technology, signaling the beginning of its efforts to build a global supply chain. According to the company, the agreement also marks the first export of ISCC PLUS-certified, naphtha-grade recycled feedstock made from waste plastics to a global commodities company such as Trafigura. The company said the deal goes beyond conventional plastic recycling, as recycled feedstock produced with Korean-developed technology has been incorporated into a global petrochemical supply chain. It added that the global recycled naphtha market has so far been dominated by Northern European and major global energy com

Cadillac bets on sales growth in Korea with new Incheon showroom

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Cadillac and GMC are accelerating their push into Korea’s luxury auto market with a new showroom in Incheon, expanding the U.S. brands’ footprint in one of the country’s most competitive imported car districts. GM Korea said Friday that Cadillac & GMC officially opened a new joint showroom in Guwol-dong, Namdong District, Incheon, marking the brands’ 12th dealership location nationwide and the latest step in an aggressive retail network expansion strategy. The showroom follows a series of recent openings in Suwon in October 2025, Seoul’s Songpa District in January and Busan’s Haeundae District in April, as the automaker seeks to strengthen customer access across major urban markets. Located along a 12-lane boulevard in a densely packed imported-car retail zone, the Incheon showroom sits near industrial complexes, government offices and department stores, offering high visibility and easy access for customers in western parts of the Seoul metropolitan area. The 363.6-square-meter showroom features a 28-meter glass facade and can display up to six vehicles. A dedicated display z

Naver Connect Foundation partners with SNU on AI talent development

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Naver Connect Foundation and Seoul National University (SNU) on Tuesday signed a memorandum of understanding to expand artificial intelligence (AI) education and talent development in Korea. Under the agreement, the two institutions will jointly develop and operate AI education programs and support university students across the country in accessing quality training. They also plan to pursue joint research and explore new education models on an ongoing basis. The partnership will launch with the AI Agent Challenge, a hands-on program for 200 students from 10 regional national universities conducted in cooperation with SNU's University Alliance Regional Talent Development Center. Participants will design and build AI agents to address problems encountered in daily life. Developers and planners from the Naver group of companies will serve as mentors, providing group feedback and lectures to help students build practical skills. Naver Connect Foundation said it has worked to bring practical AI education to university settings. A course on AI-assisted frontend development, co-developed with S

LG Uplus, Samsung join forces on 6G sensing technology

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

LG Uplus and Samsung Electronics are joining forces to test technologies that could redefine what mobile networks do in the 6G era, turning communications infrastructure into systems capable of sensing and interpreting the physical world around them. LG Uplus said Friday that it had signed a memorandum of understanding with Samsung Electronics to jointly research integrated sensing and communication technology (ISAC), along with artificial intelligence (AI)-linked 6G applications. The partnership brings together Samsung Research, Samsung Electronics’ advanced research and development division, and LG Uplus’ commercial network operation capabilities to test whether next-generation technologies developed in laboratories can function reliably in real-world telecommunications environments. The companies said the collaboration would focus on base station-based sensing technologies and AI-connected 6G systems, with the longer-term goal of contributing to future 6G standards and new commercial services. ISAC technology allows telecommunications infrastructure, including mobile base stations

Samsung Electronics' minority union to continue challenging wage deal at court

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

A minority labor union at Samsung Electronics representing consumer electronics employees will continue its legal challenge against a recently reached wage agreement, the union's lawyer said Friday. Earlier this week, the tech giant's two largest unions, representing more than 65,000 members, approved the agreement, which includes a substantial bonus package for chip employees amid booming earnings from artificial intelligence-related semiconductor business. The smaller union, which has about 13,000 members primarily from the company's smartphone, TV and home appliance divisions, had initially filed for an injunction to suspend the vote on the wage deal. However, after the vote concluded, the minority union said it will instead seek to block implementation of the agreement and plans to submit revised injunction documents to the court next week, the lawyer said. The ruling is expected within a month. Under the agreement, Samsung will provide a special semiconductor performance bonus equivalent to 10.5 percent of business performance earnings without a cap. The bonuses will be paid in compan

Taihan Cable employees referred to prosecutors over alleged LS Cable leak

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Police have referred employees of Taihan Cable & Solution to prosecutors over allegations of leaking submarine cable technology from LS Cable & System, after a nearly three-year investigation. The decision is widely seen as significant given that industrial technology leak cases typically require extensive digital forensics, technical analysis, witness questioning and legal review. Industry officials said such cases — handled by the National Office of Investigation — are generally referred only after investigators comprehensively examine seized materials, testimony and technological links. The latest referral itself is being interpreted as a major judgment by investigative authorities, rather than a preliminary stage, such as a search and seizure operation. Particular attention has been drawn to the scope of those referred. Earlier reports largely centered on officials from architectural design firms involved in the construction of submarine cable plants. However, sources said the latest referral list also includes personnel from companies that participated directly in manufacturing c

Industry minister calls for active profit reinvestment in AI sector

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Industry Minister Kim Jung-kwan on Friday called for active reinvestment of profits earned by the booming semiconductor industry in a bid to make Korea a global power in the artificial intelligence (AI) era. Kim made the remarks in a social media post amid ongoing discussions in Korea about the best way to share or use windfall profits of major semiconductor companies. The debate has brewed since Samsung Electronics, Korea's largest conglomerate and the world's biggest memory chip maker, was recently embroiled in a labor-management conflict over performance-based bonuses amid forecasts that the company's operating profit could reach 300 trillion ($199.5 billion) this year on the back of the global AI boom. Following the monthslong conflict, the labor and management reached a wage agreement last week, under which Samsung decided to allocate a special semiconductor performance bonus equivalent to 10.5 percent of business performance earnings, without a cap. "The world has entered a race against time to secure leadership in the AI sector. In key AI industries, including semiconductors, an a

Lotte expands family-friendly initiatives amid Korea’s low birthrate crisis

Tomas Kauer - International News Writer and Moderator — Fri, 29 May 2026 21:00:55 +0900

Lotte Group hosted a family-friendly festival at the Seoul Plaza lawn from May 19 to 21 in partnership with ChildFund Korea and the Community Chest of Korea, marking the 10th anniversary of its mom-friendly social contribution initiative. The event was designed to encourage public participation in addressing Korea’s low birthrate crisis while promoting better child care environments and greater awareness of caregiving. The opening ceremony on May 19 was attended by major figures from the public and private sectors, including Im Sung-bok, head of communications at Lotte Corp.; Yoon Yeo-jun, chairman of the Community Chest of Korea; and Hwang Young-ki, chairman of ChildFund Korea. During the ceremony, Lotte donated a combined 500 million won ($366,000) to ChildFund Korea and the Community Chest of Korea to support efforts aimed at addressing the country’s declining birthrate and improving child care facilities. The venue featured four themed zones focused on school commute, learning, play and rest, where visitors took part in programs related to safety education, children’s rights an

Tech firms double down on voice AI as next battleground emerges

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

As global tech giants race to redefine voice as the next major interface for artificial intelligence (AI), local tech and telecom firms are also accelerating efforts to secure an edge in the domain with Korean-language optimized AI services and multimodal technologies. The rapid shift comes as global companies, including Google, Apple, Microsoft and Meta move to embed voice into AI agents and connected devices, enabling systems that can understand context, execute tasks and interact naturally with users across devices and environments. Google recently introduced Gemini Intelligence, a new AI feature on Android powered by its Gemini AI agent technology, at its Android Show: I/O Edition earlier this month. Unlike earlier voice assistants that were largely limited to short commands such as setting alarms, the new system is designed to automate multistep tasks, including reservations, shopping and food orders across applications. Apple is also expected to unveil a significantly upgraded version of Siri at its upcoming Worldwide Developers Conference next month. The new Siri is anticipated t

Hyundai Steel collaborates with Star Wars franchise to promote carbon-reduced plates

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

Hyundai Steel has collaborated with the Star Wars franchise to promote its carbon-reduced steelmaking process through an advertisement for the film “The Mandalorian and Grogu.” The steelmaker said Friday that the collaborative video has been airing since Monday through the company’s official YouTube channel and advertisements shown at multiplex theaters. “The Mandalorian and Grogu” is an adventure film set in the "Star Wars" universe, and follows legendary Mandalorian bounty hunter Din Djarin and his young apprentice Grogu on their journey to change the fate of the galaxy. The film was released in the United States on Friday and is scheduled to open in Korea on Wednesday. In the video, Hyundai Steel compares the teamwork of Din Djarin and Grogu to the company’s operation of a hybrid process combining an electric furnace and blast furnace. The company also borrowed the film’s iconic phrase, “This is the way,” to connect it with Hyundai Steel’s efforts to pioneer the market through the carbon-reducing production processes. “Through the video, we tried to expand our com

Starbucks Korea controversy draws overseas backlash, calls for HQ intervention

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

SEATTLE — Days after Starbucks Korea’s “Tank Day” campaign sparked outrage domestically, overseas social media users have begun reacting to the controversy, with some drawing comparisons to tragedies such as the Sept. 11 attacks and calling on Starbucks headquarters in Seattle to intervene. The controversy, which initially triggered backlash largely within Korea, has increasingly spread overseas this week as English-language posts explaining the historical significance of the May 18 Gwangju Uprising circulated widely on Reddit, Instagram and X (formerly Twitter). Many foreign users attempted to contextualize the controversy for international audiences by comparing it to marketing campaigns tied to national tragedies in their own countries. “Imagine the American Starbucks HQ launching a promotion on Sept. 11 with a catch phrase like 9/11 Airplane Day,” one Instagram user wrote in a widely shared comment. Others drew comparisons to Holocaust-related marketing, with one commenter sarcastically referring to a hypothetical “Gas Day.” “Wow, how did they manage to mess that up?

Landing International wraps first K-Beauty Week with Nasdaq closing bell ceremony

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

For the hundreds of Korean cosmetics brands trying to break into the American market, the biggest barrier isn’t consumer demand — it is the dizzying labyrinth of Western retail logistics. Landing International, a business-to-business technology and distribution platform founded in 2013, has quietly positioned itself as the essential gateway for that migration. By handling the complex supply chains and regulatory hurdles that often stall overseas brands, the company has successfully brought more than 225 Korean beauty and wellness labels to the aisles of corporate giants like Target, Walmart and Ulta Beauty. To mark the category’s maturation from a digital subculture into a brick-and-mortar staple, Landing International’s chief executive Sarah Chung Park stood alongside executives from specialized beauty retailer Ulta Beauty to ring the Nasdaq closing bell in Times Square recently. The ceremony capped off the inaugural National K-Beauty Week, a weeklong push from May 11 to 17 that transformed Ulta storefronts in New York, California, Georgia and Florida into pop-ups. Featuring ta

AI reshapes Korea’s fashion retail, manufacturing landscape

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

Artificial intelligence (AI) is reshaping the fashion industry for both makers and consumers in Korea. Leapfrogging conventional practices in which offline stores display items and visitors try them on before purchase, the trade has become more oriented for e-commerce where shopping no longer requires visiting shops in person to nail the right choices. The online technologies are also supporting businesses by making their trading platforms more sensitive to consumer demands so that visiting customers can find more reasons to spend money. To manage stocks and workforce, AI has also become a rising force wielding the highest levels of efficiency and precision. Fashion is one of those industries where AI has brought unprecedented waves of change. To survive, Korean companies are adapting to the new frontiers. And some of them have already accomplished eye-catching updates. Customer services Major fashion retailer LF last month introduced a “virtual fitting service” for its British heritage brand Barbour. The brand’s official Korean website is now supported by Ottok VTON, a virtual clo

Huons Global moves to calm investors over controversial merger

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

Huons Global moved Friday to contain growing shareholder concerns over a planned merger between two of its affiliates, saying the deal is critical to securing the prescription drug and health supplement conglomerate’s long-term growth engine and stabilizing funding for its unprofitable biotech unit. The holding company said it will hold a shareholder meeting to explain the rationale behind the merger of Huons and Huonslab, while also gathering investor feedback on the transaction and its potential impact on minority shareholders. The announcement comes days after Huons, a subsidiary of Huons Global, approved a merger agreement to absorb Huonslab during a board meeting held Sunday. Huonslab, a biotechnology affiliate focused on innovative biopharmaceutical development, currently operates without a revenue base and has been posting widening losses as it accelerates research and development efforts. The company recorded an operating loss of 10.2 billion won ($6.7 million) last year, with the deficit widening 20.8 percent from a year earlier, according to Huons Global. Huons Global said the

Restaurant associations protest Coupang Eats' free delivery promotion

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

Restaurants selling food through mobile delivery platform Coupang Eats on Friday protested the company’s free delivery promotion for consumers, claiming the costs of the promotion would ultimately be shifted onto them. Korea's five small business associations, including the Korea Federation of Micro Enterprises, the Korea Merchant Association and the Korea Foodservice Industry Association, issued a joint statement saying the promotion will eventually make the platform’s market influence even stronger and result in higher platform usage fees for its partner restaurants. The associations said the promotion will make Coupang Eats consumers rely on the company even more. They added that such market dominance will eventually make the company feel entitled to demand that the partner restaurants make a greater sacrifice. “Small business owners are now standing on the brink of closure amid a quadruple whammy of high interest rates, high inflation, rising labor costs and shrinking consumer spending," the statement read. "The aggressive marketing offensives by major platform companies, capit

POSCO International bets big on US rare earth supply chain

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

POSCO International is making an aggressive push into America’s strategic minerals race, announcing plans to build the first integrated rare earth and permanent magnet production complex in the United States as Washington scrambles to reduce dependence on China-dominated supply chains. The Korean trading and energy company said Friday it signed an agreement Wednesday in Washington with ReElement Technologies Corp. to establish a joint venture for rare earth separation and refining production in the United States. The project calls for a combined investment of $200 million to build a rare earth separation facility capable of producing 6,000 tons annually, with plans to later expand into permanent magnet manufacturing. POSCO International said it would lead management of the joint venture as the largest shareholder, while ReElement would provide core refining technologies. The signing ceremony was attended by POSCO International CEO Lee Kye-in, ReElement CEO Mark Jensen, senior officials from the U.S. departments of State, Commerce and Energy, and representatives from the Korean Embassy

Korea becomes world’s No. 2 cosmetics exporter as trade surplus tops $10 bil.

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

Korea's cosmetics trade surplus reached $10.1 billion in 2025, surpassing the $10 billion threshold for the first time and rising 13.5 percent from 2024, the Ministry of Food and Drug Safety said Friday. Exports hit a record $11.4 billion, up 11.8 percent year-on-year, while imports edged down 2.3 percent to $1.29 billion. Korea's cosmetics exports ranked second globally in 2025, overtaking the United States. France led with $24.3 billion, followed by Korea at $11.4 billion and the United States at $10.8 billion. The cosmetics trade surplus of $10.1 billion accounted for 12.9 percent of Korea's total trade surplus of $78 billion last year, making the sector one of the country's leading contributors to the overall balance. Skin care products led export categories at $8.53 billion, or 74.7 percent of total exports, followed by color cosmetics at $1.51 billion, or 13.2 percent. Together they accounted for 87.9 percent of all cosmetics exports. By destination, the United States ranked first among individual export markets at $2.2 billion, topping China for the first time. China came second a

Samsung union members begin vote on tentative agreement

Tomas Kauer - International News Writer and Moderator — Fri, 22 May 2026 21:00:56 +0900

Members of Samsung Electronics’ labor unions began mobile voting on a tentative agreement reached between their leadership and management, the final phase before the two sides’ labor dispute is settled. According to the unions, approximately 87,000 members of Samsung Electronics Labor Union (SELU) and National Samsung Electronics Union (NSEU) began casting their votes on the tentative agreement at 2 p.m. Friday. The voting will continue for six days until 10 a.m. Wednesday. The tentative agreement will be finalized if a majority of union members eligible to vote participate in the ballot and more than half approve it. If the agreement fails to win majority support, it will be rejected and labor and management will have to go back to the negotiating table. The agreement, reached Wednesday just hours before the unions were to launch a general strike, centers on distributing part of the company’s operating profit to employees as performance bonuses. The bonus system consists of two categories. The first is Samsung’s existing overall performance incentive (OPI). The agreement states

(URGENT) KOSPI crashes over 6 pct on foreign sell-offs after achieving 8,000-point milestone

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:12 +0900

(END)

Oceans minister opposes Iran's push to charge fees for Hormuz transit

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:12 +0900

SEOUL, May 15 (Yonhap) -- South Korean Oceans Minister Hwang Jong-woo has openly...

(2nd LD) Hana Financial buys stake in No. 1 crypto exchange operator Dunamu

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:12 +0900

SEOUL, May 15 (Yonhap) -- Hana Financial Group Inc., one of South Korea's major ...

KRX issues sell-side sidecar for KOSPI on sharp fall after 8,000-point milestone achievement

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:12 +0900

SEOUL, May 15 (Yonhap) -- The country's bourse operator on Friday activated a se...

Galaxy Corp. to open robot-themed K-pop entertainment park in Seoul

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:11 +0900

SEOUL, May 15 (Yonhap) -- Galaxy Corp., the agency behind K-pop star G-Dragon, s...

(2nd LD) KOSPI crashes over 6 pct on foreign sell-offs after achieving 8,000-point milestone

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:11 +0900

SEOUL, May 15 (Yonhap) -- South Korean stocks plummeted more than 6 percent Frid...

(2nd LD) KOSPI briefly hits another historic landmark of 8,000 on AI rally

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:11 +0900

SEOUL, May 15 (Yonhap) -- South Korea's stock market entered a new era Friday, b...

(LEAD) KOSPI crashes over 6 pct on foreign sell-offs after achieving 8,000-point milestone

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:11 +0900

SEOUL, May 15 (Yonhap) -- South Korean stocks plummeted more than 6 percent Frid...

KOSPI crashes over 6 pct on foreign sell-offs after achieving 8,000-point milestone

Tomas Kauer - International News Writer and Moderator — Sat, 16 May 2026 21:00:11 +0900

SEOUL, May 15 (Yonhap) -- South Korean stocks plummeted more than 6 percent Frid...

Samsung chip division head warns against complacency amid looming major strike

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Samsung Electronics Vice Chairman and Chief Executive Officer (CEO) Jun Young-hyun, who heads the company's semiconductor division, called on top management officials to stay vigilant amid a looming labor strike, warning against complacency, industry sources said Friday. During a recent management briefing session, Jun urged executives not to become complacent amid the current chip market boom, saying the industry upcycle should be viewed as "the last golden opportunity" to restore the company's fundamental competitiveness. "The time is not for complacency," he was quoted by the sources as saying, emphasizing the need to regain technological competitiveness. The remarks came as the world's largest memory chipmaker reported a net profit of 47.22 trillion won (US$31.8 billion) in the first quarter, more than five times higher than a year earlier, driven by strong demand for high-end memory chips used in artificial intelligence (AI) applications. The comments also came as the union warned of a major strike next Thursday, with labor and management remaining sharply divided over performance-b

More teachers turn to insurance for protection amid surge in assaults, parent complaints

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

As student violence against teachers and relentless parent complaints continue to make national headlines in Korea, a growing number of educators left with little practical recourse are turning to a last line of defense: insurance. According to Hana Insurance, the country’s sole provider of teacher rights protection coverage, 9,312 educators have enrolled in policies designed to guard against risks ranging from sexual harassment and physical assault to abusive complaints from students and parents. The number marks more than a sixfold increase from 2018. Although these policyholders account for just 1.8 percent of Korea’s 506,000 teachers from kindergarten to high school, the sharp rise signals that what was once a niche safeguard is steadily gaining broader relevance. Claims are rising in tandem. Paid insurance cases jumped from just eight in 2018 to 168 in 2025, with 53 claims already approved this year as of this month. The vast majority of claims — 81 percent — involved defamation, verbal abuse or refusal to comply with teachers’ disciplinary guidance. Sexual harassment and

LG Uplus unveils budget-friendly Galaxy Buddy5 to bolster 5G lineup

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

LG Uplus has launched the Galaxy Buddy5, a budget-friendly 5G smartphone priced at 528,000 won ($352), available at its official online store and physical stores nationwide, the company said Thursday. The Galaxy Buddy5 is the fifth model in the Galaxy Buddy series, a U+ exclusive 5G smartphone line LG Uplus first introduced in 2021. Based on Samsung Electronics' Galaxy A17 5G, the device is designed around practical everyday functions and comes in black, blue and gray. Key specifications include a 6.7-inch FHD+ Super AMOLED display, a 50-megapixel rear camera with optical image stabilization, a 13-megapixel front camera, a 5,000mAh battery, a microSD card slot supporting up to 2TB of storage and IP54 water and dust resistance. LG Uplus said the Galaxy Buddy series has maintained steady demand as a first smartphone for children, a handset for elderly parents and a secondary device. To mark the launch, the company's live commerce channel, UPlus LIVE, will broadcast three sessions on Friday, 19 and 28, covering practical features and rate plan options. The company earlier held a launch broa

Samsung Electronics union to proceed with strike despite management's dialogue offer

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Samsung Electronics largest labor union said Friday it will proceed with a major strike planned for next week despite the company's proposal to resume talks without preconditions. An official proposal was sent to the union earlier in the day, in what is seen as the management's latest effort to avert a planned 18-day strike beginning next Thursday that could disrupt production at the world's largest memory chipmaker. The union reaffirmed its position that it has no intention of engaging in further dialogue unless its key demands on performance-based bonuses are addressed before another round of government-mediated talks proposed for Saturday. "We are willing to hold discussions after June 7," Choi Seung-ho, head of Samsung Electronics' largest labor union, said, referring to the day after the planned strike is scheduled to end. "We intend to exercise the rights guaranteed under the Constitution." Two days of government-led mediation talks ended without an agreement Wednesday, as labor and management remained sharply divided over performance-based bonuses tied to earnings from the company

Fitch analyst warns SME borrower risks biggest threat to Korean banks

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Small- and medium-sized enterprises (SMEs) and self-employed borrowers, whose repayment capacity may weaken under prolonged economic pressure stemming from the Iran war, remain the biggest weak spot for Korean banks, according to Fitch Ratings analyst Matt Choi. In an interview with The Korea Times in Seoul, Thursday, Choi said Korean banks are expected to maintain relatively stable earnings this year, but warned that risks tied to vulnerable borrowers should be closely monitored. "We expect Fitch-rated banks, particularly the large commercial banks, to maintain resilient credit profiles and deliver broadly stable near-term performance, given their ability supported by steady net interest margin and also the moderate loan growth for the sector overall," Choi said, adding that he expects Korea's policy rate to remain broadly stable, helping banks preserve interest margins. Choi is a director of financial institutions at Fitch Ratings. Based in Hong Kong, he covers bank credit ratings in Korea and Hong Kong. In a recent report, Fitch maintained an A+ operating environment score for Korea's

T’way Air named top transit carrier at Incheon Int'l Airport for 2nd straight year

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

T'way Air has been recognized as the "2025 Outstanding Transit Airline" at Incheon International Airport, making it the only Korea-based carrier to receive the transit passenger growth award for two consecutive years, the airline announced Friday. The Incheon International Airport Corporation (IIAC) presented the award at a ceremony held alongside its 2026 airline incentive briefing, attended by 14 domestic and international carriers. T'way Air was recognized for strengthening transit sales across its route network and providing dedicated gate check-in and baggage connection services for transit passengers. According to IIAC data, the number of passengers transiting through Incheon International Airport on T'way Air flights rose approximately 69 percent year-on-year, from around 57,000 in 2024 to approximately 97,000 in 2025. The airline's transit ratio — the share of transit passengers among all passengers — climbed from 2.6 percent to 4.1 percent over the same period. Growth has continued into 2026. In the first quarter, T'way Air carried approximately 28,000 transit passengers thro

Hana Financial steps up digital asset push with Dunamu stake acquisition

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Hana Financial Group has expanded its strategic partnership with Dunamu after acquiring a 6.55 percent stake in the digital asset company for about 1 trillion won ($667 million) through its core affiliate Hana Bank, the group said Friday. The deal makes Hana Bank the fourth-largest shareholder of Dunamu, which operates Korea’s largest cryptocurrency exchange, Upbit. The bank’s board earlier in the day approved the purchase of Dunamu’s 2.284 million shares from Kakao Investment. This marks the largest-ever investment by a Korean commercial bank in a single digital asset company. The investment comes as the global financial industry accelerates its transition toward blockchain and stablecoin infrastructure. Hana Financial described the partnership as an effort to merge traditional financial services with digital innovation capabilities in order to strengthen competitiveness in the rapidly evolving digital finance market. Dunamu has established itself as the dominant player in the country’s digital asset sector, supported by its large user base and trading activity, as well as its

Creator behind spicy Buldak ramyeon promoted to chairman of Samyang Foods

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Samyang Foods said Friday it has promoted Vice Chairman Kim Jung-soo, known as the creator of the recipe behind the Buldak ramyeon series, to chairman as part of efforts to strengthen leadership amid its growing overseas business. Kim was promoted to the chairmanship five years after becoming vice chairman in 2021. Her term will take effect June 1, according to the company. Samyang Foods said the promotion comes as the company seeks to strengthen corporate social responsibility and leadership in response to its expanding global business. Kim, the daughter-in-law of the late Honorary Chairman Chun Joong-yoon, the founder of the company, joined the company in 1998. She has played a pivotal role in growing the Buldak ramyeon series into a global brand since its launch in 2012. Samyang Foods' overseas sales grew by almost twentyfold to 1.9 trillion won ($1.27 billion) in 2025 from 93 billion won in 2016. About 80 percent of the sales were generated outside Korea. For the first quarter of this year, the company reported sales of 714.4 billion won and an operating profit of 177.1 billion won, up

Paradise Group sponsors event seeking to prevent underage gambling

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Amid a rising tide of digital addiction reaching Korean classrooms, one of the nation’s largest integrated resort operators is shifting its corporate social responsibility effort toward the very vice it professionally manages. The Paradise Group recently held the third annual Underage Gambling Prevention Week, held at Ttukseom Hangang Park in eastern Seoul, the company said Wednesday. The event, themed “Stop Gambling! That’s How You Win,” drew roughly 2,000 students, parents and educators to the riverside on Thursday. Organized by the National Gambling Control Commission and the Ministry of Education, the initiative seeks to build a cultural firewall against a crisis that experts say is increasingly fueled by the ubiquity of smartphones and clandestine social media platforms. While Paradise Group is best known for its luxury hotels and foreigner-only casinos, its participation in the anti-gambling campaign marks a strategic move within its environmental, social and governance framework. Aside from financial support, which included tickets to the company’s Spa Dogo facility, e

Former US lawmakers urge deeper Seoul-Washington industrial cooperation

Tomas Kauer - International News Writer and Moderator — Fri, 15 May 2026 21:00:15 +0900

Former U.S. lawmakers emphasized the need for deeper Korea-U.S. industrial cooperation and stronger private sector partnerships, as businesses in both countries navigate shifting supply chains and rapidly evolving technologies. Seven former U.S. Reps. — Jay Chang Joon Kim, Bill Flores, Steven Palazzo, Bart Gordon, Donna Edwards, Ron Kind and Frank Guinta — visited Seoul this week for a series of business and policy exchange events aimed at strengthening bilateral economic ties and supporting Korean companies’ expansion into the U.S. market. The former lawmakers gathered with Korean business leaders and industry officials, including former Incheon Regional Tax Office Chief Park Soo-bok and former Tech University of Korea President Park Ghun-su, for a dinner event hosted by the Korea-China Entrepreneurs Association at a hotel in Gangnam District on Thursday. Former U.S. Rep. Bill Flores, speaking on behalf of the delegation, said that what makes a healthy relationship is “a strong economy based on shared values, on trade and on the things that we share together to try to make the

Gov't continues inspection into fire on S. Korean-operated vessel in Strait of Hormuz

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

DUBAI, May 9 (Yonhap) -- A South Korean government team continued its investigat...

LVMH CEO Arnault to visit Seoul next week: sources

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 9 (Yonhap) -- LVMH Chairman and CEO Bernard Arnault is expected to vi...

(News Focus) Local brokerages beef up preparations for omnibus accounts amid KOSPI surge

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 9 (Yonhap) -- South Korean brokerages are seeking partnerships and ex...

(2nd LD) Seoul shares soar to fresh high despite renewed Mideast tensions; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 8 (Yonhap) -- South Korean stocks extended their winning streak to a ...

(LEAD) Seoul shares soar to fresh high despite renewed Mideast tensions; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 8 (Yonhap) -- South Korean stocks extended their winning streak to a ...

Special envoy visits Kuwait, Bahrain, Iraq to discuss Mideast conflict, bilateral ties

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 8 (Yonhap) -- A special envoy of South Korea's foreign minister has v...

Seoul shares soar to fresh high despite renewed Mideast tensions; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 8 (Yonhap) -- South Korean stocks extended their winning streak to a ...

(URGENT) Seoul shares again end at fresh peak of 7,498.00 despite renewed Mideast tensions

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

(END)

4th S. Korean oil tanker successfully transits through Red Sea

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 8 (Yonhap) -- A South Korean vessel has successfully passed through t...

Budget minister emphasizes renewable energy support, signals reflection in next year's budget

Tomas Kauer - International News Writer and Moderator — Sat, 09 May 2026 21:00:07 +0900

SEOUL, May 8 (Yonhap) -- Budget Minister Park Hong-keun on Friday emphasized gre...

Zeekr opens 1st brand gallery in Korea

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

Chinese premium electric vehicle (EV) maker Zeekr has made its long-awaited debut in Korea with the opening of its first brand gallery in Seoul, seeking to establish a strong foothold in the nation’s increasingly competitive premium EV market, the company said Wednesday. The company had signaled its entry last year after registering its local entity, Zeekr Intelligent Technology Korea. With the opening of its showroom, Zeekr is now moving to strengthen the identity of Chinese EVs following the successful debut of BYD Korea last year. Zeekr has selected the 7X midsized electric SUV as its first model for Korea. The company plans to roll out the vehicle in the second half of the year, while at the same time expanding its retail footprint by opening more showrooms in key cities, including Seoul, Busan and Daejeon. The 7X, positioned as a strategic global model, is expected to compete directly with major EVs in the Korean market, such as Tesla’s Model Y, Hyundai Motor’s IONIQ 5 and Kia’s EV5. “The 7X SUV is now undergoing the certification process by the Ministry of Environment,”

OpenAI to expand advertising pilot to Korea and 4 other nations

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

OpenAI is set to expand its nascent advertising program to five new markets, including Korea, the United Kingdom and Japan, as the artificial intelligence (AI) heavyweight seeks to monetize its sprawling free-user base. The company announced Thursday that it would begin testing sponsored content in Brazil and Mexico within the coming weeks. The move marks the first major international push for a pilot program currently restricted to the United States, Canada, Australia and New Zealand. The expansion is specifically aimed at adult users on the platform’s "Free" and "Go" subscription tiers. While OpenAI rose to prominence on the promise of an ad-free, utility-driven interface, the shift underscores the mounting pressure on AI developers to offset the staggering computational costs required to maintain their models. "As businesses show strong interest in connecting with users in dialogue-driven and purpose-led environments, we are expanding the regions where we are testing ChatGPT ads," said Dave Dugan, OpenAI’s vice president of global ad solutions. "We will continue to prioritize use

SK hynix flooded with unprecedented offers from big tech firms to secure chip supplies

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

SEOUL/SINGAPORE — SK hynix is being aggressively courted by big global tech firms with offers to invest in its new production lines and fund purchases of pricey manufacturing tools as they rush to secure memory chips, people familiar with the matter said. The offers, unprecedented in the global memory chip industry, underscore the severity of the component's scarcity around the world, as chipmakers struggle to keep pace with surging demand amid an artificial intelligence boom. Memory chips are critical parts in AI data centers, smartphones, PCs and other areas. The firm's customers have been proposing a range of offers to the Korean chipmaker, including investing in dedicated memory production lines, six people said. Another proposal involved customers financing equipment purchases such as ASML's extreme ultraviolet lithography machines, which are used to print circuits onto silicon wafers and are worth hundreds of millions of dollars, three of the people said. But the chipmaker, flush with cash, is cautious about taking financial commitments from customers, as such deals could hold it

International tourists fuel sales surge at Musinsa stores during holiday rush

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

International tourists packed Musinsa stores across Korea during the overlapping Japanese Golden Week and China’s Labor Day holidays, turning the fashion retailer’s offline locations into some of Seoul’s hottest shopping destinations. Musinsa, the Korean fashion unicorn that has come to embody Seoul’s street style, said Friday that sales from foreign customers at 12 globally focused offline stores jumped more than 30 percent during the weeklong holiday period from April 29 through May 4, compared with the previous week. The company analyzed stores operating in major shopping districts including Seongsu, Hongdae, Myeong-dong, Gangnam, Hannam and Busan’s Seomyeon area. The strongest growth came from Seongsu, where crowds of overseas tourists flooded into Musinsa Standard Seongsu and Musinsa Store Seongsu. Combined sales at the two locations climbed more than 41 percent from the prior week, the company said. Foreign shoppers accounted for 53 percent of total sales at the 12 stores during the holiday stretch, surpassing spending by domestic customers. At Musinsa Store Myeong-dong,

HMM to relocate headquarters from Seoul to Busan

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

HMM Co., Korea's largest shipping company, said Friday its shareholders approved a plan to relocate the company's headquarters from Seoul to the southeastern port city of Busan. The proposal was approved at an extraordinary shareholders' meeting after management and the labor union reached an agreement last week. HMM said it plans to complete the necessary legal procedures within this month and move the chief executive office to Busan, about 330 kilometers southeast of Seoul, by the end of the year. The relocation follows the Ministry of Oceans and Fisheries' move from the administrative city of Sejong to Busan in December in line with President Lee Jae Myung's pledge to develop Busan into a major maritime hub in Northeast Asia. Smaller shipping firms, including SK Shipping Co. and H-Line Shipping Co., have also decided to relocate their headquarters to Busan. Lee has expressed hope that HMM's relocation would strengthen the competitiveness of South Korea's shipping industry and support balanced regional development, while pledging government support for the company's relocation plan.

Homeplus Express sold, measures to continue for rehabilitation

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

Homeplus, an ailing Korean retailer undergoing rehabilitation proceedings, sold its supermarket chain Homeplus Express to NS Home Shopping. Despite the sale, the discount chain remains desperate to secure more cash, announcing a series of restructuring measures on Friday to pay wages and maintain operations. The company said it will temporarily close 37 underperforming Homeplus stores on Sunday to concentrate on the remaining 67 stores. Homeplus said the measure is to prioritize supplying limited product quantities to key stores first, so that it can restore customer trust and prevent sales declines at key outlets. Since January, the company’s financial difficulties have escalated into a liquidity crunch, prompting partner firms to halt supplies over concerns about delayed payments, leaving some shelves partially empty and reducing customer traffic in some stores. "Closure of the stores was an unavoidable decision due to the difficulty in supplying sufficient products to all stores, as major trading partners have tightened supply terms following the commencement of the rehabilitation p

Subnautica 2 to test Krafton's long-term growth capability

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

Krafton will launch its highly anticipated adventure game Subnautica 2 through early access on May 15, in what could become a defining moment for the company’s long-term growth beyond its global hit PUBG: Battlegrounds franchise. Subnautica 2 is an underwater survival action title developed by Unknown Worlds Entertainment, a U.S. game studio acquired by Krafton in 2021. The franchise’s first title, Subnautica, has surpassed 18 million cumulative global sales since its release in 2018, while the sequel has remained at the top of gaming platform Steam’s global wish list rankings for the past nine consecutive months. Subnautica 2 is set on a different alien planet and introduces four-player cooperative mode for the first time in the series, allowing players to explore and develop survival strategies together. While the original game was built on the Unity engine, the sequel was developed using Unreal Engine 5. The game will be released on PC and Xbox Series X and Series S. Subnautica 2 has long been central to discussions about Krafton’s upcoming release pipeline, but its path to l

Jeju Samdasoo, Korea’s top bottled water, seeks premium foothold in China

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

For decades, the volcanic filters of Jeju Island have produced what is arguably Korea’s most ubiquitous consumer staple: Jeju Samdasoo. Now, the state-run bottler of the country’s top-selling mineral water is betting that the same basalt-filtered purity can command a premium in China’s cutthroat e-commerce landscape. Jeju Special Self-Governing Province Development Corp., which bottles the mineral water, and GS Global, the trading arm of GS Group, signed a deal Friday to launch a Samdasoo brand store on JD.com by July. The move marks a pivot from niche distribution — previously confined largely to enclaves of the Korean diaspora — to a full-scale assault on the Chinese mainstream. The decision to anchor the expansion on JD.com, a platform known for its stringent quality controls and a logistical network that rivals Western giants, is a calculated attempt to position the water as a luxury commodity. In a market where food safety concerns have historically driven a thirst for imported labels, Samdasoo is looking to ride the "K-wave" that has already seen Korean cosmetics and sn

Record-high number of migrant workers to fill agriculture labor vacuum

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

Korea will invite a record-high 104,000 migrant workers to join the agricultural sector in the first half of this year, the Ministry of Agriculture, Food and Rural Affairs said Friday, underscoring the country’s growing dependence on overseas labor. Among them, 94,000 will be seasonal workers on an E-8 visa valid for up to eight months. The rest are reserved for E-9 visa holders who can stay for three years while seeking opportunities in broader industries such as livestock. The number of seasonal workers alone marks a 53 percent increase from the 61,248 allocated in the first half of last year. According to the ministry, the number of migrant workers in the agricultural sector stood at 20,738 in 2020, but quickly shot up to 85,292 in 2024 and 130,259 in 2025, marking an increase of more than six times. With the figure for the first half of this year already exceeding 100,000, the annual total is expected to reach 140,000 this year, setting another record. The sharp increase is tied to government efforts to address the labor vacuum in rural areas. In Korea, April to June and September to

Samsung labor union to resume wage talks next week

Tomas Kauer - International News Writer and Moderator — Fri, 08 May 2026 21:00:18 +0900

Samsung Electronics Labor Union (SELU), the company’s largest labor union, has agreed to resume talks with management next week, ahead of a planned strike set for May 21. The union said it accepted a renewed mediation request during a tripartite meeting involving Gyeonggi District Employment and Labor Office, Friday, as the office's commissioner strongly recommended resuming the negotiation process, while pledging full government-level support. “In light of the government’s active commitment and repeated requests, the union decided, after internal review, to participate in an additional negotiation process,” the union said, adding that it made the decision as the delegated authority negotiating for Samsung Electronics labor unions. However, SELU vowed to press ahead with strike preparations if the outcome fails to satisfy its members, with its leader Choi Seung-ho stressing, “We will move forward with a general strike without hesitation.” The additional talks are scheduled from Monday to Tuesday. The request came as Samsung Electronics’ labor coalition faced escalating inter

(2nd LD) S. Korea's exports top US$80 bln for 2nd month in April

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

SEOUL, May 1 (Yonhap) -- South Korea's exports exceeded US$80 billion for the se...

Samsung Biologics union launches 1st general strike over pay dispute

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

SEOUL, May 1 (Yonhap) -- Unionized workers at Samsung Biologics, the biotech arm...

(LEAD) S. Korea's exports top US$80 bln for 2nd month in April

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

SEOUL, May 1 (Yonhap) -- South Korea's exports exceeded US$80 billion for the se...

S. Korea's exports top US$80 bln for 2nd month in April

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

SEOUL, May 1 (Yonhap) -- South Korea's exports exceeded US$80 billion for the se...

(URGENT) S. Korea's exports top US$80 bln for 2nd month in April

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

(END)

S. Korea's resource developer sells Mexican mine stake for US$2 amid losses

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

SEOUL, April 30 (Yonhap) -- South Korea's state-run resource developer said Thur...

HMM, labor union agree to relocate headquarters to Busan

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:09 +0900

SEOUL, April 30 (Yonhap) -- HMM Co., South Korea's largest shipping firm, said T...

(2nd LD) Samsung Biologics union launches 1st general strike over pay dispute

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:08 +0900

SEOUL, May 1 (Yonhap) -- Unionized workers at Samsung Biologics, the biotech arm...

(LEAD) Samsung Biologics union launches 1st general strike over pay dispute

Tomas Kauer - International News Writer and Moderator — Sat, 02 May 2026 21:00:08 +0900

SEOUL, May 1 (Yonhap) -- Unionized workers at Samsung Biologics, the biotech arm...

Samsung Biologics union launches 1st strike over pay dispute

Tomas Kauer - International News Writer and Moderator — Fri, 01 May 2026 21:00:13 +0900

Unionized workers at Samsung Biologics, the biotech arm of Samsung Group, began a five-day strike Friday, demanding higher wages and expanded performance-based compensation. The walkout marks the first strike since the company's establishment in 2011. Samsung Biologics said it is deploying all available personnel to minimize disruption but acknowledged that some impact to operations may be unavoidable. The company estimated that losses from a full-scale strike could exceed 640 billion won (US$433 million), roughly half of its first-quarter sales of 1.26 trillion won. In a message to employees released Friday, company President and Chief Executive Officer John Rim urged them to carefully consider whether to participate in the strike, warning it could lead to irreversible losses for both the company and its employees. "The company will continue sincere dialogue with the union to help stabilize labor-management relations and build a workplace based on mutual trust and respect," he said. The union is seeking a 14 percent increase in both base and performance-related pay, a one-off cash incenti

As Japanese carmakers exits Korea, Chinese EV brands rush in to fill gap

Tomas Kauer - International News Writer and Moderator — Fri, 01 May 2026 21:00:13 +0900

Chinese electric vehicle (EV) manufacturers are rapidly expanding their presence in Korea, filling a void left by the gradual retreat of once-dominant Japanese automakers. The shift has unfolded after a series of exits by Japanese brands, beginning with Nissan in 2020 and followed most recently by Honda. Last week, Honda Korea confirmed it will end vehicle sales in the country by the end of this year. The decision will further shrink the footprint of Japanese carmakers in Korea, leaving only Toyota and its luxury division Lexus actively maintaining sales operations. In contrast, Chinese automakers — driven by their aggressive EV expansion strategy — are accelerating their push into the Korean market. Foremost among them is BYD, which has quickly established a strong foothold through its local unit, BYD Korea. The company surpassed 10,000 cumulative vehicle sales in Korea roughly one year after beginning passenger EV deliveries in April last year. It also climbed to fourth place among imported car brands in monthly sales in March, overtaking both Toyota and Lexus. Industry officials sai

Labor unrest threatens to drag on Korea's manufacturing growth momentum

Tomas Kauer - International News Writer and Moderator — Fri, 01 May 2026 21:00:13 +0900

Korea’s manufacturing sector faces mounting risks of losing growth momentum, as extraordinary earnings in the semiconductor industry fuel a wave of aggressive wage demands from unions across other sectors. What began as isolated wage negotiations among a handful of chipmakers has rapidly evolved into a broader “compensation war,” raising concerns that the country’s industrial ecosystem could be fundamentally undermined. At the center of the controversy is Samsung Electronics, whose union has threatened to launch a strike later this month unless the company removes its cap on performance-based bonuses, mirroring a precedent set by SK hynix last year. Both firms have posted record-breaking earnings amid a global boom in artificial intelligence, which has sharply driven up demand for memory chips. The surge in profitability has, in turn, intensified calls for greater employee compensation. The dispute at Samsung has drawn rare public criticism from within the government. President Lee Jae Myung and Industry Minister Kim Jung-kwan have both voiced concerns that the union’s demands

Hanwha Solutions ordered again to revise share sale plan

Tomas Kauer - International News Writer and Moderator — Fri, 01 May 2026 21:00:13 +0900

South Korea's financial regulator has again ordered Hanwha Solutions to revise its share sale plan, citing insufficient disclosures, the company said Friday. The Financial Supervisory Service (FSS) previously made a similar request on April 9 over the company's plan to raise 2.4 trillion won ($1.6 billion) through share issuance. The company reduced its share offering size to 1.8 trillion won in its revised plan. The FSS said the company's securities registration statement under its revised plan failed to meet formal requirements and contained unclear or missing information on key issues, potentially affecting investors' ability to make informed decisions. As a result, the filing has not been accepted, and has been suspended, it added. Hanwha Solutions, the energy solutions arm of chemicals-to-shipbuilding conglomerate Hanwha Group, said it took the regulator's request seriously and will submit a revised filing reflecting feedback from shareholders and the media. The company announced the large-scale rights offering March 26 to repay debt, drawing criticism over its decision-making process

(2nd LD) Seoul shares take breather amid Middle East tensions

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

SEOUL, April 24 (Yonhap) -- Seoul shares ended flat Friday, as investors scooped...

Finance chief calls for biz sector innovation to sustain economic growth

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

SEOUL, April 24 (Yonhap) -- Finance Minister Koo Yun-cheol on Friday urged South...

(LEAD) Woori Financial Q1 net falls 2.9 pct

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

SEOUL, April 24 (Yonhap) -- Woori Financial Group on Friday reported a decline i...

(LEAD) Seoul shares take breather amid Middle East tensions

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

SEOUL, April 24 (Yonhap) -- Seoul shares ended flat Friday, as investors scooped...

Seoul shares take breather amid Middle East tensions

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

SEOUL, April 24 (Yonhap) -- Seoul shares ended flat Friday, as investors scooped...

(URGENT) Seoul shares end flat amid Middle East tensions

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

(END)

(LEAD) Hyundai unveils 1st Ioniq model for China market

Tomas Kauer - International News Writer and Moderator — Sat, 25 Apr 2026 21:00:06 +0900

SEOUL, April 24 (Yonhap) -- Hyundai Motor Co., South Korea's leading automaker, ...

SK Group partners with Vietnam to foster AI ecosystem

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

SK Group said Friday it has partnered with a Vietnamese provincial government and a national innovation center to help foster an artificial intelligence (AI) ecosystem in Vietnam and support the country's future growth strategy. During a business forum held on the sidelines of the Korea-Vietnam summit talks in Hanoi on Thursday, SK Innovation and SK Telecom signed memorandums of understanding (MOUs) with the north-central province of Nghe An and the National Innovation Center (NIC), respectively, according to SK Group. The company said it expects the collaboration to lay the groundwork for the first overseas expansion of its full-stack AI model, which spans the construction of AI data centers and stable power supplies, as well as the development and validation of AI models and the rollout of industry-specific AI services. Under the MOU with Nghe An Province, SK Innovation, SK Telecom and the provincial government will jointly explore the construction of an AI data center and related infrastructure projects in the region. Nghe An Province is considered a key growth region in Vietnam, with

Gov't to designate 10 cities to serve as startup hubs by 2027 to promote balanced growth

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

The government will designate 10 cities to serve as major hubs for startup ecosystems by next year in a bid to promote balanced regional growth and create more jobs for young people, the finance ministry said Friday. It will first designate four cities that house the country's major science institutes — Daejeon, Daegu, Gwangju and UIsan — as startup hubs this year, and name six more cities outside of the greater Seoul area with such potential next year, according to the Ministry of Finance and Economy. The initiative was announced at a meeting on the economy and strategy on boosting startup ecosystem. The ministry said the initiative aims to help promote balanced regional growth as the country's startup infrastructure is mainly focused in Seoul, while other regions are suffering an outflow of population due to the lack of industrial infrastructure. Korea ranks No. 20 across the world in terms of startup ecosystem competitiveness, with massive investment in research and development (R&D) projects and active patent applications, but only has three cities listed in top 500 startup citi

Naver Cloud, HanmiGlobal set sights on Saudi Arabia's data center market

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

Naver Cloud and construction project management firm HanmiGlobal signed a strategic partnership agreement Wednesday to jointly pursue large-scale data center projects in Saudi Arabia and other overseas markets. Under the agreement, Naver Cloud will lead infrastructure planning and service model design, drawing on its full-stack capabilities spanning data center construction, cloud and artificial intelligence services. HanmiGlobal will handle design and construction consulting, project management for scheduling and costs, and local licensing and business operations in Saudi Arabia. Naver Cloud has been building a presence in Saudi Arabia through Naver Innovation, a joint venture with the Saudi National Housing Company, focusing on digital twin construction and map-based super-app development. The new data center agreement extends that footprint into infrastructure and is expected to position the company as a key partner in Saudi Arabia's long-term digital transformation. HanmiGlobal entered the Middle East market in 2007 and has since completed more than 50 projects in the region. "Naver C

Game maker Neptune targets India in digital advertising push

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

Neptune, a Korean mobile game developer, said Friday it has established a new India-based subsidiary, KRAFTON Ad Platform India Pvt. Ltd., sharpening its push into the fast-growing global ad tech market and betting on the South Asian country’s vast gaming audience. The mobile game developer said the new entity, based in New Delhi, will serve as a strategic hub to expand its ad tech platform business overseas, one of Neptune’s three core growth initiatives. The India unit will be led directly by Neptune’s chief executive, with a senior executive from KRAFTON’s India operation appointed as a resident director, the company said. Neptune said it aims to quickly scale its presence through close coordination with its parent company, KRAFTON. The move underscores Neptune’s focus on India, the world’s most populous nation and one of the fastest-growing gaming markets. Central to that strategy is Battlegrounds Mobile India, or BGMI, a flagship mobile title published by KRAFTON that has amassed 260 million cumulative users and more than 9 million daily active users, the company said. N

Court ruling undermines Samsung Biologics labor union's strike plans

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

A court ruling has partly curbed Samsung Biologics labor union’s plan to stage an all-out strike, in a move seen as undermining its momentum. The Incheon District Court on Thursday partially granted Samsung Biologics’ injunction request against the strike planned for May 1. In its ruling, the court rejected the biopharmaceutical firm’s request to ban the strike itself, but said strike actions should be restricted in final-stage processes where there is a significant risk of product deterioration. “The union shall not cause its members or third parties to suspend work to prevent deterioration or spoilage of thawed cell lines during the strike period,” the ruling read. This means the union can stage a walkout in early-stage processes such as cell culture, purification and virus filtration, but not in finishing operations such as filling and concentration, where completed drug substances are processed into forms suitable for maintenance and storage. Article 38-2 of Korea’s Trade Union and Labor Relations Adjustment Act states that any work aimed at preventing raw materials or pro

Infographic expert dissects hidden layers behind K-culture

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

The office of Infographics Lab 203 in western Seoul is cozy, dimly lit and filled with design-inspiring books, neatly arranged paraphernalia and framed posters of infographic projects it has produced. The place resembles a small art gallery. Creative Director Jang Sung-hwan occupies one room for himself. He has a lot to say, probably as much as the hundreds of books on the shelves. One argument, however, touched on K-culture. He said the country's cultural products, ranging from music to food and beauty products, are now being consumed extensively worldwide, but many global audiences are missing a point. He asks, are we reading K-culture right? It is easy for global audiences to join millions of fans surfing the Korean wave, but far less easy for them to grasp the hidden layers that form the wave — the history, statistics and fun facts behind those cultural products. These layers underpin the deeper reasons global audiences are drawn to K-culture, but remain as an underutilized selling point for Korea in promoting its culture abroad. This is where infographics step up, a single-page i

Maxim Mocha Gold marks 37 years of sweetening coffee culture

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

Dongsuh Foods would not have been the same if it were not for Maxim Mocha Gold. First introduced in Korea in 1989, the brand has consistently dominated the country’s instant coffee market while expanding its domain globally. Last year alone, the brand sold 5.3 billion coffee mix sticks — the equivalent of 170 sticks every second. The brand’s popularity here dates back to 1976. Using its existing expertise in instant coffee processing, Dongsuh introduced Maxwell House Coffee Mix. Enhanced with creamer and sugar to mitigate any bitter taste, the pouch-type packets hit the jackpot, drawing new customers who had never before tasted coffee. Thirteen years later, the domestic market for instant coffee had become incredibly competitive, prompting Dongsuh to roll out Maxim Mocha Gold. The company invested in research to determine the correct level of intensity in coffee bean roasting and improving the coffee extraction process. It also changed from the earlier pouch-type packaging to the current stick-type, allowing consumers more control over the amount of sugar in their coffee. Fast forwa

Procurement agency supports resource recovery firms

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

The Public Procurement Service (PPS) is supporting nationwide efforts to develop resource recovery technologies to help secure a stable supply of raw materials, the state-run procurement agency said Friday. PPS Administrator Baek Seung-bo visited City Oil Field in Jeongeup, North Jeolla Province, Thursday, a company that specializes in producing petrochemical feedstock by decomposing waste plastics, to explore ways to expand sales channels and secure stable raw materials through public procurement. The visit was aimed at strengthening domestic alternative supply chains through waste resource recycling and supporting stable market access for innovative enterprises, especially as geopolitical instability in the Middle East increases the price volatility of imported raw materials. City Oil Field’s plant uses low-temperature pyrolysis to regenerate naphtha and refined oil from waste plastics. By reducing import dependency, the facility enhances production stability and eases the cost burdens for businesses amid global supply disruptions. PPS plans to provide active support to ensure that t

Kia Q1 net profit drops 23.5% on US tariffs, weak currency

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

Kia Corp., Korea's second-largest automaker, said Friday its first-quarter net profit dropped 23.5 percent from a year earlier due to the impact of U.S. import tariffs and the weakening Korean won. Net profit for the three months that ended in March declined to 1.83 trillion won ($1.2 billion) from 2.39 trillion won in the same period of 2025, the company said in a regulatory filing. Operating income plunged 26.7 percent on-year to 2.2 trillion won, while sales increased 5.3 percent to a record 29.5 trillion won. The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 1.91 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Kia said the full impact of U.S. tariffs on imported vehicles was reflected in its first-quarter results. According to Kia's calculations, the cost of the tariffs amounted to 755 billion won. The weakening Korean won also contributed to the weaker-than-expected first-quarter earnings, the company added. Over the three-month period, Kia sold 779,000 units of vehicles worldwi

Hyundai Motor premieres China-specific IONIQ V

Tomas Kauer - International News Writer and Moderator — Fri, 24 Apr 2026 21:00:15 +0900

Hyundai Motor premiered its China-specific electric vehicle (EV) IONIQ V during Auto China 2026, heralding the brand’s strategic expansion in the world’s largest EV market. The IONIQ V is the production version of the VENUS Concept unveiled earlier this month, and marks the IONIQ brand’s first China-specific model, manufactured in China in collaboration with local tech companies to serve the lifestyles of local consumers. The IONIQ V is built on a platform jointly developed with Hyundai’s Chinese joint venture partner Beijing Automotive Group (BAIC) and is equipped with batteries developed in collaboration with China’s leading battery maker CATL. Its driving range is expected to surpass 600 kilometers on a single charge and features advanced driver assistance functions developed in collaboration with Momenta, a Chinese autonomous driving technology firm. The EV is distinguished by an aggressive silhouette, highlighted by a sporty sloping line running from the roof to the hood. Advanced features such as a horizon head-up display, Qualcomm’s Snapdragon 8295 chipset and a 27-inc

KRX announces revised delisting rules for penny stocks

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- The Korea Exchange (KRX) said Friday it has changed ...

Unionized workers of Samsung Electronics warn of up to 30 tln-won loss from planned general strike

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- Unionized workers of Samsung Electronics Co. on Frid...

FSC chief vows financial support packages for Mideast crisis-hit firms

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- The chief of the country's financial regulator said ...

HD Hyundai Heavy wins 674.7 bln-won VLGC order in Middle East

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- HD Hyundai Heavy Industries Co., South Korea's leadi...

Industry minister stresses balanced regional development through local industrial growth

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- Industry Minister Kim Jung-kwan visited the country'...

Seoul's finance chief calls for global efforts on supply chain stability at G20 meeting

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- Finance Minister Koo Yun-cheol has urged major econo...

(LEAD) Seoul shares snap 3-day rise on profit-taking amid hopes for 2nd round of U.S.-Iran peace talks; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- South Korean stocks ended a three-session winning st...

Seoul shares snap 3-day rise on profit-taking amid hopes for 2nd round of U.S.-Iran peace talks; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 18 Apr 2026 21:00:17 +0900

SEOUL, April 17 (Yonhap) -- South Korean stocks ended a three-session winning st...

From studios to streets: Chinese livestreamers chase sales in Seoul

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

The streets of Myeong-dong in Seoul are still calm at 9 a.m., untouched by the day’s rush — except for a group of livestreamers already busy talking to their viewers. They are not street performers, as one might expect in a busy commercial district. Instead, a group of three stands beside a small cart, showcasing hats and jackets in front of a smartphone mounted on a tripod. “This hat model was newly released in early April, and I’m the only one selling it online,” one of them, who gave her name as Yi, said. “Now, if you comment ‘1’ in the livestream, I’ll prioritize your order and make sure it’s shipped through a faster delivery service.” Yi is a Chinese reseller living in Seoul. She and her team primarily source hats and clothing from MLB, a brand popular among Chinese consumers, in Korea, and then sell the items to customers in China through livestreams on Douyin, China’s version of TikTok. Reselling has long been entrenched in China, driven by a growing middle class in the nation seeking overseas goods. It is not illegal in China as long as the sellers report

Lotte Chemical CEO outlines leaner growth path to investors

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Lotte Chemical held an investor meeting in Seoul Wednesday, where CEO Lee Young-jun outlined a sweeping portfolio restructuring aimed at shifting the company away from commodity petrochemicals and toward four high-growth business pillars. Speaking to major domestic institutional investors at NH Financial Tower in Yeouido, Lee said the company plans to streamline its basic chemicals business through early restructuring, while focusing on four growth areas: advanced materials, fine chemicals, battery materials and hydrogen energy. In its basic chemicals business, Lotte Chemical’s Daesan unit is seeking a merger with HD Hyundai Chemical, a first-of-its-kind deal in Korea’s petrochemical industry, while its Yeosu complex has submitted a final restructuring plan to the government and is awaiting approval. The company said it expects the restructuring to free up capital, which it would then redirect toward higher-margin, higher-growth businesses. In advanced materials, subsidiary Lotte Engineering Plastics is set to begin full operation of what the company described as Korea's largest comp

Korean Air tops consumer trust, safety in gov’t assessment

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Korean Air stood out among 51 local and foreign airlines operating international routes through six Korean airports in the government’s annual assessment. In the evaluation by the Ministry of Land, Infrastructure and Transport, based on last year’s performance, the company scored the highest among all airlines in the consumer satisfaction category. The evaluation was based on a survey of more than 31,000 passengers. The company also earned the highest grade possible of A+++ in the safety category, which focuses on accident records and safety management policies. Four other Korean firms — Asiana Airline, Air Seoul, Air Premia and Eastar Jet— also received the same high assessment. Korean Air also received the highest possible marks for user protection measures, which looks at how companies handled legal disputes involving passengers with grievances and what legal punishments were handed down by courts. All Korean airlines except Air Premia scored an "A" or higher in the category. Korean Air received a B++ in the flight reliability category for international routes, below Air Busan

Korean financial firms brace for AI-driven cyber risks from Mythos

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Financial authorities and industry players have stepped up vigilance following reports that Mythos, a next-generation artificial intelligence (AI) model developed by U.S. firm Anthropic, can independently detect and exploit security flaws, officials said Friday. While the reports have prompted swift responses from governments and corportations worldwide, concerns are particularly acute in the financial sector, where highly interconnected systems handling payments, transfers and asset management could be severely disrupted if compromised. Experts warn that the risk is amplified by the structure of financial IT environments, in which advanced technologies coexist with decades-old legacy systems, leaving potential gaps in security. “The risks span the entire IT stack, as vulnerabilities could emerge not only in installed applications but also at the operating system level,” a financial industry official said. “Despite differences in network environments, Korea cannot be considered immune, given its heavy reliance on foreign-developed software.” Anthropic recently unveiled Claude Myt

Hanwha calls off request for US Section 301 probes on China, India

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Hanwha Qcells USA has withdrawn its comments on proposed U.S. investigations into alleged excess manufacturing capacity in 16 economies under Section 301 of the Trade Act of 1974. In a letter sent to U.S. Trade Representative (USTR) Jamieson Greer on Wednesday (local time), the Korean conglomerate’s U.S. subsidiary had originally requested Section 301 probes and tariffs on solar wafers, cells and modules from China, Indonesia, Cambodia, Thailand, Vietnam and India, calling them "state-influenced economies" that distort global markets with overcapacity. The company also urged tariff relief for Korea and Malaysia, denying state-directed solar overcapacity in countries where it operates manufacturing facilities. These requests were made in response to the Office of the USTR's inquiries about whether the company wished to provide comments specific to each of the 16 economies subject to Section 301 investigations. "Manufacturers of state-influenced economies have relocated production to Southeast Asian countries to circumvent U.S. trade remedies, and India’s solar manufacturing capacity i

T’way Air expands transit network to boost regional airports

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

T’way Air is expanding international transit services beyond Daegu to Jeju, accelerating a strategy to turn regional airports into global hubs, the budget carrier said Friday. The airline said it began connecting international transit services at Jeju International Airport on April 1, following an earlier launch at Daegu International Airport on April 7, 2025. At Daegu International Airport, the service — the first of its kind by a Korean carrier — has handled about 4,000 transit passengers in its first year, with monthly traffic surpassing 1,000 in March, the airline said. Routes linking Daegu with Taipei, Osaka and Tokyo’s Narita have driven demand, while streamlined transfers have reduced the need for another check-in and eased entry procedures for foreign travelers, the carrier added. Building on that momentum, the airline said it is now operating transit routes such as Singapore-Jeju-Fukuoka, becoming the only carrier currently offering international transit on Japan’s southern resort island. The expansion effectively revives Jeju’s role as a transit hub after similar ser

Hyundai Rotem finds faster track to carbon neutrality with high-speed rail

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Hyundai Rotem, the rail manufacturing arm of Hyundai Motor Group, has developed a software platform designed to reduce energy use across high-speed rail networks, the company said Friday. Developed in partnership with Korea Railroad Corporation and Korea National University of Transportation, the Intelligent Energy-Efficient Operation System (IEOS) analyzes real-time track conditions and environmental data to calculate the most efficient speed for each segment of a journey, minimizing the acceleration and braking that drive up energy consumption. On a pilot run on the KTX-Eum line between Seoul and Gangneung, the system reduced energy use by as much as 12.2 percent. The push for efficiency comes as rail operators globally face mounting pressure to curb emissions without expanding already costly infrastructure. High-speed rail is often promoted as a lower-carbon alternative to air travel, but energy use remains significant, particularly on routes with frequent speed changes. Software-based solutions like IEOS are gaining traction as a faster, less capital-intensive way to deliver emissio

Construction firms hike wages for employees in Middle East

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Korean construction firms have begun offering higher pay to employees working at project sites in the Middle East. The wage hikes address persistent safety concerns due to prolonged tensions in the region following the war between the United States, Israel and Iran. Earlier this month, the ceiling of Hyundai E&C's office near the Amiral project site in Saudi Arabia was partially damaged by a tremor caused by an Iranian airstrike on a neighboring petrochemical complex. While some staff have been evacuated, construction firms have offered incentives to employees who remain on duty. Samsung gave gifts worth 5 million won ($3,380) last month to some 500 employees working in the United Arab Emirates, Qatar and Saudi Arabia, most of whom belong to the conglomerate's construction arms, Samsung C&T and Samsung E&A. The gifts included Samsung Electronics mobile devices and vouchers that can be used at traditional markets in Korea. In addition, Samsung E&A decided to raise allowances for employees dispatched to the three Middle Eastern countries classified as dangerous regions. GS E&C took similar m

BYD’s Dolphin intensifies rivalry with Casper, Ray

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

BYD Korea’s compact electric hatchback — the Dolphin — is rapidly gaining traction, posing a growing threat to its two established rivals: Hyundai Motor’s Casper Electric and Kia’s Ray EV. Sales of the all-electric hatchback have exceeded expectations just a few months after its February launch, with monthly sales reaching 652 units in March. According to the Chinese electric vehicle (EV) maker, cumulative orders have already surpassed 2,000 units, underscoring the model’s strong popularity driven by its unmatched price competitiveness. The entry-level EV made its debut in Korea in the mid-20 million won range after tax benefits. The pricing has drawn interest from price-sensitive customers seeking practical EVs. Industry officials attributed the Dolphin's smooth market entry to supply constraints from the two rival models. It takes more than 20 months for customers to receive the Casper Electric after they sign contracts, while the Ray EV also requires around 10 months for delivery to customers. “Some demand for the two domestic compact EVs looks to have moved to the Dolphi

Unionized workers of Samsung Electronics warn of up to $20.3 bil. loss from planned general strike

Tomas Kauer - International News Writer and Moderator — Fri, 17 Apr 2026 21:00:16 +0900

Unionized workers of Samsung Electronics on Friday argued the tech giant may lose up to 30 trillion won ($20.3 billion) in profit this year alone should it go ahead with its walkout as planned. Such a warning came amid stalled wage talks, in which the unionized workers earlier demanded a sharp increase in performance-based bonuses that many say may force Samsung Electronics to pay as much as 45 trillion won this year in bonuses if realized. "If we continue a strike for 18 days, the company is expected to suffer at least 20 trillion won to 30 trillion won in losses," Choi Seung-ho, head of the Samsung Electronics unit at the Samsung Group United Union (SGUU), said at a press conference. The union earlier announced plans to stage a general walkout for 18 days from May 21 to June 7. Given that Samsung Electronics is projected by some analysts to post as much as 300 trillion won in operating profit this year, the company could incur losses of about 1 trillion won per day if production disruptions arise from the strike, Choi explained. He said the union has demanded the removal of a cap on bon

(2nd LD) BOK again holds key rate steady as Middle East war fuels inflation, growth risks

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:22 +0900

SEOUL, April 10 (Yonhap) -- South Korea's central bank kept its benchmark rate u...

(LEAD) Seoul shares rise over 1 pct ahead of U.S.-Iran ceasefire negotiations

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- Seoul shares closed higher Friday, tracking overnigh...

(LEAD) S. Korean currency unchanged ahead of U.S.-Iran talks

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- The South Korean won remained flat against the U.S. ...

Seoul shares rise over 1 pct ahead of U.S.-Iran ceasefire negotiations

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- Seoul shares closed higher Friday, tracking overnigh...

Media watchdog to require bulk messaging providers to adopt anti-spam measures

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- South Korea's media watchdog on Friday approved regu...

(3rd LD) BOK again holds key rate steady as Middle East war fuels inflation, growth risks

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- South Korea's central bank kept its benchmark rate u...

(URGENT) Korean won could strengthen quite quickly if Middle East situation eases: BOK chief

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

(END)

Seoul shares extend gains late Fri. morning on U.S.-Iran ceasefire optimism

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- Seoul shares extended gains late Friday morning trac...

Full text of BOK statement on monetary policy decision in April

Tomas Kauer - International News Writer and Moderator — Sat, 11 Apr 2026 21:00:21 +0900

SEOUL, April 10 (Yonhap) -- The following is the full text of a statement by the...

Insurers race to increase subscriptions in Korea's underinsured pet market

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

Choi Kwang-soon, whose Shih Tzu is about to turn 15, hesitated before opening the bill. Caring for a dog with an aging heart already meant steady monthly spending on medication and checkups. But this time was different. Her dog had undergone surgery to remove a cancerous adrenal gland, and by the time the procedure and hospital stay were over, the cost had climbed to nearly 8 million won ($5,400). But she had no pet insurance. “A decade ago, pet insurance wasn’t something people talked about. I didn’t even know it existed and there were barely any products available,” Choi said. “If I had known earlier, I would have signed up. You pay a small amount upfront, and it saves you from these overwhelming expenses later.” In Korea, the number of pet owners reached 15.46 million in 2024, roughly 30 percent of the population. Yet despite the surge in ownership, enrollment remains low, with only 1 to 2 percent of households signed up. But as veterinary bills climb, so too does interest in such policies. According to a KB Financial Group report, households that sought medical treatment f

Record profits expected for SK hynix in Q1 as market weighs chip momentum

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

SK hynix will announce its first-quarter earnings for the year on April 23, with analysts expecting the memory chip giant to post record-breaking profits. The market is now debating whether the company can sustain its current level of profitability or if the global memory chip upcycle is nearing its peak. As of Thursday, brokerages expect SK hynix to post 47.66 trillion won ($32.2 billion) in sales and 32.69 trillion won in operating profit for the first quarter, representing year-on-year growth of 170 percent and 339 percent, respectively. The operating margin is projected to reach 68.6 percent. SK hynix is highly likely to smash its previous performance record — 32.83 trillion won in sales and 19.17 trillion won in operating profit — from the fourth quarter of last year. The surge was driven by robust demand tied to the artificial intelligence boom, with expanded sales of high-value memory products centered on high-bandwidth memory (HBM), while the average selling price of memory products rose across all segments, including conventional dynamic random access memory (DRAM) and NAND

Korea, Finland seek ways to boost cooperation in supply chains, advanced industries

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

Trade Minister Yeo Han-koo met with his Finnish counterpart Friday to discuss bilateral cooperation in supply chains and advanced industries amid heightened global uncertainties, his office said. In their meeting in Seoul, Yeo and Finland's Minister for Foreign Trade and Development Ville Tavio explored ways to deepen cooperation between their countries in artificial intelligence (AI), circular economy and other advanced industries, according to the Ministry of Trade, Industry and Resources. They also discussed upgrading the countries' ties to a strategic and comprehensive partnership while agreeing on the need for closer cooperation among countries, including Korea and Finland, that support open trade amid volatility in the global trade environment stemming from the rise of trade protectionism and geopolitical conflicts. "Finland, with its critical minerals infrastructure and advanced technological capabilities, is a key partner for Korea, and the Seoul government will work to further strengthen economic and security ties with Europe through its mutually beneficial partnership with Fin

Samyang Foods' Buldak to return as official partner of Coachella Festival

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

Samyang Foods’ Buldak brand — known for its intensely spicy “fire chicken” ramen and sauces — will return as the official ramen and hot sauce partner of the 2026 Coachella Valley Music and Arts Festival, organizers said, marking its second consecutive year in the role and extending its distinction as the first Korean brand to secure an official partnership with one of the world’s largest music events. The festival runs April 10–12 and April 17–19 in Indio, California. This year’s program will center on the “Buldak Crawl,” a roaming festival experience that allows attendees to sample limited-edition dishes infused with the brand’s signature spicy flavors at multiple vendor locations across the festival grounds. Participating food partners will include Prince St. Pizza, Rokstar Chicken, Sumo Dog, Birrieria San Marcos and Sidekicks, each offering a distinct menu item built around Buldak’s signature spice. Offerings include a pizza slice with Buldak drizzle, tenders and honey butter fries with Buldak sauce, a Buldak Hotzilla Dog with Sumo Tots, a Buldak quesadilla a

TikTok turns viral ‘gochujang butter pasta’ into breakfast pop-up event

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

TikTok Korea held a breakfast gathering at a GS25 convenience store in Seoul Thursday, bringing together creators and users to celebrate “gochujang butter pasta,” a dish that gained traction on the platform before being commercialized as a ready-to-eat product. The event, held at GS25’s Konkuk branch, included about 10 users selected through a promotional draw, along with TikTok creators Gyutaecci, Jeon Unni, Cookim and Minji. Attendees sampled GS25's gochujang butter pasta and assembled their own variations using convenience store ingredients. The gathering was designed around the "mingle morning" format, a social trend popular among Generation Z involving early-morning meetups centered on food and conversation. Additional programming included games and a best-dressed competition, with participants asked to wear red clothing in a nod to the dish's primary ingredient. The gochujang butter pasta product at the center of the event was launched by GS25 on March 25, following the spread of gochujang-based pasta recipes on TikTok. GS25 said the product development drew directly on TikTok

With inheritance tax paid, Samsung chairman set to expedite future investment

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

With the Samsung Group owner family set to complete one of the largest inheritance tax payments in Korea’s history, Samsung Electronics Executive Chairman Lee Jae-yong is expected to accelerate future investments based on his stronger control over the group. Hong Ra-hee, the widow of former Samsung Group Chairman Lee Kun-hee, sold 15 million shares in Samsung Electronics worth nearly 3.1 trillion won ($2.1 billion) in a block deal on Thursday. The sale has reduced Hong's stake in Samsung Electronics to 1.24 percent from 1.49 percent. The sale was intended to fund inheritance tax payments on assets left by the late chairman. Since his death in 2020, the heirs — Hong and her children Jae-yong, Boo-jin and Seo-hyun — have been in the process of paying 12 trillion won in taxes in six installments, starting in 2021. The process is expected to be completed this month, once Hong uses the proceeds from the latest sale to pay the final installment. The inheritance process strengthened Lee Jae-yong’s grip on Samsung Electronics. Before the late chairman’s death, Hong held a 0.91 percent

Hyundai Motor launches Ioniq EV brand in China, unveils two concept cars

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

Hyundai Motor on Friday officially launched its Ioniq electric vehicle (EV) brand in China, unveiling two new concept cars as it seeks to strengthen its presence in the Chinese market. The Korean automaker said it introduced the Ioniq Venus concept sedan and the Earth concept sport utility vehicle (SUV) at a brand launch event held in Beijing ahead of the Auto China 2026 auto show set to run later this month. According to Hyundai Motor, the two concept models signal the company's renewed push in China and the future design direction of the Ioniq lineup tailored specifically for the country. In China, Hyundai plans to adopt a new naming system for future Ioniq models based on planets, symbolizing a customer-centric service concept in which each vehicle is designed around user needs. "Starting with the two concept cars unveiled today, we will continue to present products that reflect deep insight into Chinese customers and our genuine commitment to this market," said Li Fenggang, president of Beijing Hyundai Motor, the company's joint venture with China's Beijing BAIC Motor. Hyundai Motor,

SKT partners with Arm, Rebellions on hybrid CPU-NPU servers

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

SK Telecom has teamed up with semiconductor design giant Arm and artificial intelligence (AI) accelerator startup Rebellions to develop a hybrid central processing unit (CPU)-neural processing unit (NPU) solution to empower next-generation AI infrastructure. SK Telecom said Friday it signed a strategic memorandum of understanding with the two companies. Under the agreement, the three parties will jointly develop an AI inference server solution that integrates Arm’s new Arm AGI CPU with Rebellions’ AI accelerator chip RebelCard, which is slated for release in the third quarter. The solution will be tested and verified in SK Telecom’s AI data centers. Arm AGI CPU, which marks Arm’s first architecture for data center processors, is optimized for high-density AI inference workloads and large-scale AI deployment. Rebellions’ RebelCard is specialized for large-scale AI inference. The partnership comes as the AI industry undergoes a paradigm shift from training AI models to powering real-world services, driving demand for data center architectures that balance performance and power ef

Hanwha, Poongsan call off $1 bil. ammunition biz M&A deal

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

Korea’s top defense firms Hanwha Aerospace and Poongsan have called off negotiations for Hanwha's acqusition of the Poongsan's ammunition business, triggering speculation over the reasons behind the cancellation. Hanwha Aerospace said in a regulatory posting on Thursday night that it has halted its review of the acquisition. Poongsan also said in a similar filing that it is not pursuing the sale of its ammunition business. The two companies did not elaborate further about why negotiations collapsed. The stock price of Poongsan Holdings, the largest shareholder of Poongsan, plunged by 14.48 percent on Friday to 46,350 won, as investors reacted to the deal's collapse. The deal, valued at 1.5 trillion won ($1 bil.), drew significant industry attention as it was seen as an opportunity to address both companies’ needs. Poongsan, headed by Federation of Korean Industries Chairman Ryu Jin, is Korea’s primary military ammunition manufacturer, producing a wide range of munitions including 5.56-millimeter small-caliber rounds, 155-millimeter artillery shells, missile warheads and even sports

Coupang brings TCL refrigerators to Korea

Tomas Kauer - International News Writer and Moderator — Fri, 10 Apr 2026 21:00:22 +0900

Coupang, the e-commerce company often described as Korea’s Amazon due to its fast-delivery logistics network, said Friday it will begin selling large-capacity refrigerators from TCL — a major Chinese consumer electronics manufacturer — in Korea for the first time, intensifying competition in the home appliance category. The e-commerce company said the launch marks the first domestic release of TCL refrigerators through its platform, adding to an existing lineup dominated by Samsung Electronics and LG Electronics. The new model features an 814-liter, four-door design aimed at consumers seeking high-capacity storage with flexible compartmentalization. The refrigerator will be available in white and gray. Coupang said the product incorporates TCL’s metal cooling technology to reduce cold air loss and maintain internal hygiene, along with a Pure Air function and three-dimensional air circulation system designed to evenly distribute airflow and provide deodorization. The model also includes a smart digital control panel for one-touch operation and an interior layout with adjustable sh

(LEAD) Seoul stocks rebound nearly 3 pct amid hopes for Hormuz Strait reopening

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- South Korean stocks soared by nearly 3 percent Friday...

(LEAD) S. Korean currency rises amid hopes for Strait of Hormuz reopening

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- The South Korean won strengthened against the U.S. do...

Heavy oil usage firms devise consumption reduction plan amid supply disruptions

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- Fifteen companies with heavy petroleum consumption ha...

Seoul stocks rebound nearly 3 pct amid hopes for Hormuz Strait reopening

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- South Korean stocks soared by nearly 3 percent Friday...

Gov't, industries discuss response to U.S. adjustment of metal tariffs

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- The government discussed Friday the possible impact o...

Foreign tourists via cruise ships eligible for immediate internal tax refunds starting next week

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- Foreign tourists visiting South Korea on cruise ships...

Asiana Airlines launches route to Hungary in expansion strategy

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:08 +0900

SEOUL, April 3 (Yonhap) -- Asiana Airlines Inc., South Korea's second-largest ca...

S. Korea restarts operation of Gori-2 nuclear reactor

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:07 +0900

SEOUL, April 4 (Yonhap) -- South Korea restarted the Gori-2 reactor on Saturday ...

S. Korean, French businesses vow ties in bio, carbon-free, technology sectors

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:07 +0900

SEOUL, April 3 (Yonhap) -- South Korean and French businesses on Friday vowed to...

HD Hyundai Samho wins 349.8 bln-won LPG ship order from Greece

Tomas Kauer - International News Writer and Moderator — Sat, 04 Apr 2026 21:00:07 +0900

SEOUL, April 3 (Yonhap) -- HD Hyundai Samho Heavy Industries Co. said Friday it ...

Trump gov't announces adjustments to metal tariffs, 100% pharmaceutical duty

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

WASHINGTON — U.S. President Donald Trump's administration said Wednesday it will impose 50 percent tariffs on steel, aluminum and copper imports based on their "full value" paid by U.S. customers in America rather than "artificially low" foreign prices. It also plans to adjust tariffs on derivative metal products, under which no additional sectoral duties will be imposed on products containing less than 15 percent steel, aluminum or copper by weight, while a 25 percent tariff will apply to those exceeding that threshold, a senior U.S. official said in an online briefing. Trump signed a proclamation on the adjustments that are set to take effect at 12:01 a.m. on Monday (Washington time). The White House said that the changes are intended to strengthen the metal tariffs to "more effectively address the national security threat posed by such imports." "The proclamation defines the way that tariffs are assessed, ensuring that they reflect the full value of imported steel, aluminum, and copper products -- not an artificially low foreign price," the White House said in a fact sheet. It appea

Insurers expand children's coverage as policy support fuels race for long-term customers

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Insurers are expanding children’s coverage as they race to lock in long-term customers, buoyed by government efforts to tackle low birthrates and ease the cost of child rearing, industry officials said Thursday. In a market for people aged under 15 worth around 9.4 trillion won ($6.18 billion) per year, new products are evolving quickly. Some have introduced coverage that increases over time, while others extend protection beyond childhood, spanning from the prenatal stage through adulthood. The scope of coverage is also broadening. Once centered on cancer and critical illness payouts, policies are increasingly designed around a wider spectrum of risks, including mental health care, counseling and even school violence. Last month, Tongyang Life rolled out a policy where benefits grow with time. After 20 years, when the policyholder reaches adulthood, the payout can double. A 50 million won cancer benefit at signup, for instance, would rise to 100 million won. “Underage policyholders are a key long-term customer base. These policies tend to stay in force as they grow up and can later

Korean Air vows faithful response to US lawsuit over in-flight death

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Korean Air said Friday it will faithfully respond to legal procedures in the United States, where a lawsuit was filed in Virginia on behalf of the estate of Porscha Tynisha Brown, who died at age 33 in March 2024 during a flight from Washington to Incheon operated by the airline. Burns Charest, the law firm representing the complainants, claimed her death resulted from a series of critical failures by Korean Air flight personnel. According to the complaint, Brown experienced sudden respiratory distress about 12 hours into the flight, telling her traveling companions and crew members, "I can't breathe," before collapsing. "Although flight attendants provided what they claimed to be an oxygen mask, after the flight, eyewitnesses discovered the mask was never connected to an oxygen supply, leaving Ms. Brown without the life-saving oxygen she urgently needed," the complaint reads. The law firm said flight personnel stood by and watched as untrained passengers were unable to operate the machine, even after the aircraft's automated external defibrillator indicated that a shock was necessary to

Korean Air, France's Exotrail sign MOU for orbit transfer vehicle development

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Korean Air, Korea's flag carrier, said Friday it has signed a memorandum of understanding (MOU) with French aerospace company Exotrail to jointly develop an orbit transfer vehicle (OTV). Under the agreement, the companies will collaborate on value-added space services, including low Earth orbit satellite transportation, payload hosting, multi-orbit satellite deployment, and satellite life extension and refueling, Korean Air said in a press release. They plan to establish a joint working group to discuss detailed launch plans and optimize cost structures for orbital transportation services. "We aim to secure a leading technological edge in future defense and 'New Space' markets by combining Exotrail's proven space heritage with Korean Air's aerospace manufacturing capabilities," a Korean Air official said. Korean Air said the partnership will help it capture demand from both defense-related small satellite constellations and the commercial satellite market. Exotrail, meanwhile, seeks to strengthen its presence in Asia through the collaboration. An OTV is designed to transport small satelli

LG Energy Solution joins SDVerse, forging new link in software-defined vehicle market

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

LG Energy Solution said Thursday that it has joined SDVerse, becoming the first battery maker to participate in the automotive software business-to-business marketplace. Founded through a partnership among General Motors, Magna International and Wipro, SDVerse operates as an open marketplace where automakers, suppliers and developers can buy and sell automotive software in a single environment. The platform is widely seen as a key enabler of the industry’s shift toward software-defined vehicles. LG Energy Solution said it is listing five battery software offerings on SDVerse: Battery Platform SW, Safety Diagnostic Calibration Tool, Onboard FRISM, Onboard BLiS and Onboard DASH. Battery Platform SW analyzes key indicators of battery health, including degradation and lifespan, adapting the company’s existing battery management system technology for software-defined vehicle environments. The Safety Diagnostic Calibration Tool conducts safety diagnostics and simulation validation using battery data, employing in-house algorithms that reduce reliance on external inputs and limit security r

Premium electric SUV segment becomes increasingly contested in Korea

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Global automakers are joining a full-fledged race for the premium electric SUV market in Korea, with major German, European and Chinese brands rushing to launch their new strategic models here. The segment has recently emerged as a major battlefield for the auto industry, as customers are getting more responsive to all-electric cars than before. This is evidenced by solid sales from such models, including Audi Korea’s Q4 e-tron and Porsche Korea’s Macan Electric. Mercedes-Benz Korea and BMW Korea are also expanding their push into the electric SUV market, so they can secure a bigger share in the emerging yet lucrative premium electric SUV segment. Of particular interest is that what was once a competitive landscape dominated by the three German luxury carmakers is now evolving into a more intense battleground, with Volvo and emerging Chinese brands, such as Zeekr, joining the fray. BMW Korea is set to launch its strategic electric SUV — the iX3 — in the third quarter of this year. The vehicle made headlines as the carmaker’s first model under the Neue Klasse electric-only platf

Jin Air expands regional reach with new Japan, Hong Kong routes

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Jin Air said Friday it held inaugural flight events at Gimhae International Airport and Jeju International Airport to mark the launch of new routes to Miyakojima, Japan, and to Hong Kong. The ceremonies were attended by Jin Air CEO Park Byung-ryul and staff, who presented bouquets to the flight crews boarding the inaugural journeys and posed for commemorative photographs to mark the occasion. The Busan-Miyakojima route, operated exclusively by Jin Air among Korean carriers, departs Gimhae at 2:45 p.m. and lands in Miyakojima, Okinawa prefecture, at 5 p.m., with flights twice weekly on Thursdays and Sundays. Previously, travelers from North and South Gyeongsang provinces had to stop over in Okinawa’s main city to reach the so-called “Maldives of Japan.” The Jeju-Hong Kong route departs Jeju daily at 9:30 p.m., arriving in Hong Kong at 11:35 p.m. local time. The return flight leaves Hong Kong at 2 a.m. local time and lands in Jeju at 6:05 a.m. The airline said the schedule caters to Hong Kong tourists drawn to Jeju’s natural scenery and to local residents who want direct flights af

Korea, France fortify ties in biotech, eco-friendly energy, AI

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Korea and France agreed Friday to fortify their partnership in three key future industries — biotechnology, decarbonization and artificial intelligence (AI) — in a joint effort to expand bilateral economic ties, the Federation of Korean Industries (FKI) said. Both sides presented a road map during the Korea-France Business Dialogue, co-hosted by FKI and France’s Mouvement des Entreprises de France. The event coincided with French President Emmanuel Macron’s state visit to Korea and drew more than 300 participants from both countries, including Macron and Prime Minister Kim Min-seok. In the biotech session, executives from biotech and health care firms based in Seoul and Paris explored ways to combine Korea’s manufacturing and clinical expertise with France’s research and capital resources to enhance their global competitiveness in next-generation biotech. The panelists included Servier Korea General Manager Olivier Russo and Cho Yong-hyun, data platform division lead at Kakao Healthcare. The decarbonization session discussed collaborative hydrogen initiatives and sustainable

Toyota Motor Korea presents Sienna Hybrid to Paralympics MVP Kim Yun-ji

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Toyota Motor Korea said Friday it presented a Toyota Sienna Hybrid to Kim Yun-ji, who was named the Korean team’s most valuable player at the Milano Cortina 2026 Paralympic Winter Games. The ceremony was attended by Manabu Konyama, president and CEO of Toyota Motor Korea, Korean Paralympic Committee Chairman Jung Jin-owan and Kim's family. Kim, 19, competed in six events across para biathlon and para cross-country skiing at the 2026 Winter Paralympics, winning two gold medals and three silver medals. Her five-medal haul set a record for the most by a Korean athlete at a single Olympic or Paralympic Games, summer or winter. She was later named the national team’s MVP in a vote by journalists covering the Korean Paralympic Committee. Toyota Motor Korea said the vehicle presentation was part of its global “Start Your Impossible” campaign, which emphasizes pushing beyond perceived limits, and was meant to honor Kim’s performance at her first Paralympic Games. “The fighting spirit shown by Kim has deeply moved and inspired us all. Toyota Motor Korea will continue to fully support a

Chaevi plans US production base to qualify for federal subsidies

Tomas Kauer - International News Writer and Moderator — Fri, 03 Apr 2026 21:00:15 +0900

Electric vehicle (EV) power equipment maker Chaevi said Friday that it is moving to establish a U.S. production base to qualify for federal subsidies, as the government accelerates the rollout of multibillion-dollar infrastructure grants. Under the U.S. National Electric Vehicle Infrastructure (NEVI) program, established by the Infrastructure Investment and Jobs Act, federal and state governments have jointly committed $5 billion to install charging infrastructure along the nation’s major interstate highways. Of the total budget, approximately 16 percent has been reportedly disbursed to date, leaving the bulk of anticipated contracts still to be awarded. With funding concentrated in major states including California and Texas, securing a local manufacturing presence has become a key competitive factor. Chaevi said it will move to respond flexibly once the detailed requirements under the Build America Buy America Act are finalized. According to the EV fast-charging infrastructure operator, the U.S. DC-type fast-charging market has grown at an average annual rate exceeding 30 percent, su

Prague Business & Investment Forum Unlocks New Investment Gateways in the Philippines and Europe

Tomas Kauer - International News Writer and Moderator — Wed, 01 Apr 2026 01:50:27 +0900

The event gathered key government officials, diplomats, business leaders, and investors, highlighting projects with transformative growth potential across multiple industries.

The Forum was honored by:

H.E. Eduardo Martin R. Menez, Philippine Ambassador to the Czech Republic
Ms. Marison Rodriguez, Chairperson of ENFiD – representing Filipino diaspora networks across 13 European countries
Mr. Eduard Muřický, Deputy Minister and Director General, Ministry of Industry and Trade of the Czech Republic
Sir Stepan Klokocka, Grand Officer of the Knights of Rizal and CEO of the EURO Chamber of Commerce.

Their presence in the Business Trade Forum reinforced strong institutional support for cross-border ventures between Europe and Asia.

Landmark Investment Projects

Puerto Princesa Convention Hub – The MICE Project
Presented by Louis Durand (Ceres Ingenium) with Noubikko Ulanday, CEO of RPConnect this flagship project by SYNERGY SOLUTIONS Corporation will transform Mayor Lucilo Bayron Puerto Princesa into the Convention Capital of the Philippines..
Taytay, Rizal – Garment Capital Expansion
Recognized as the Philippines’ Garment Capital, Taytay offers scalable export opportunities for European buyers seeking competitive manufacturing with skilled labor.
AI World Resort Real Estate Expansion
Backed by Kazumi Honda, President of AI World Resort, this luxury tourism and real estate project positions the Philippines as a global resort destination with high ROI.
Cultural & Creative Film Industry Investments by Movie Director Arnold S. Argano, designed to boost the Philippines’ profile in global cinema
Ponce de Leon Historic Museum — blending heritage with tourism.
Renewable Energy & IT Outsourcing – Presented by Alexander Intell for Strong cross-border interest in green energy projects and BPO expansion
Resource platform on emergency preparedness - Get Ready
providing a total Resiliency program and solutions for organizations.

Strategic Outcomes

B2B meetings generated investment negotiations and signed preliminary agreements.
Cross-border collaborations launched in renewable energy, IT outsourcing, tourism, real estate, and culture.
Investor confidence strengthened, with multiple letters of intent signed.

Conclusion

With its strong government support, ambitious projects, and investor-friendly incentives, the Philippines is emerging as Asia’s next investment frontier. The Prague Business & Investment Forum cemented its role as a global gateway for cross-border business and international growth.

Prague Investment Forum 2025: A Landmark Success in Building Trade Bridges

Tomas Kauer - International News Writer and Moderator — Wed, 01 Apr 2026 01:47:22 +0900

Prague, Czech Republic — October 4, 2025 - The recently concluded Prague Business & Investment Forum, hosted by the Ministry of Trade and Industry for the Philippines and the Czech Republic, was a landmark success in building global trade bridges, said Stepan Klokockla, Principal Organizer of the Trade, together with RPConnect.

Gathering high-level investors, entrepreneurs, and business leaders from the Czech Republic proved to be more than just a meeting—it became a platform where ideas transformed into opportunities and opportunities into concrete partnerships.

The presence of the following reinforced strong institutional support for cross-border ventures between Europe and Asia: H.E. Eduardo Martin R. Menez, Philippine Ambassador to the Czech Republic ; Ms. Marison Rodriguez, Chairperson of ENFiD – representing Filipino diaspora networks across 13 European countries; Mr. Eduard Muřický, Deputy Minister and Director General, Ministry of Industry and Trade of the Czech Republic.

Among the highlights was the major presentation of Louis Durand of Ceres Ingenium and Noubikko Ulanday, who unveiled the development plan of Mayor Lucilo Bayron of Puerto Princesa—the MICE Project (Meetings, Incentives, Conventions, and Exhibitions).

Durand, who traveled from Geneva to present the plan, received a standing ovation from economists for his compelling vision. The project aims to position Puerto Princesa as the premier Convention Hub of the Philippines, offering attractive incentives such as:

Six years of income tax holidays
Duty-free importation of equipment and goods
Favorable long-term land lease agreements

Louis Durand speaking on the podium. Durand and Noubikko also announced that their team has initiated the establishment of a Consortium of Participants, with preliminary discussions already underway with several investors from Switzerland, France, and Italy.

Key Achievements of the Forum

Strategic Connections Forged: Pre-arranged B2B meetings took place, enabling participants to skip cold introductions and focus directly on negotiations, partnerships, and investment opportunities.
Cross-Border Collaborations: Business leaders from the Czech Republic and the Philippines—two focal points of the event—successfully launched discussions on joint ventures in renewable energy, IT outsourcing, real estate, and tourism development.
Investor Confidence Boosted: Several letters of intent and preliminary investment agreements were signed during the Forum, signaling strong trust in the platform’s ability to connect the right people with the right opportunities.
Thought Leadership: Renowned speakers from finance, tech, and global trade delivered powerful insights into emerging markets, green investments, and the future of cross-border partnerships.

“This Forum has proven that business matchmaking, when done with precision, can accelerate growth far beyond traditional conferences.” – Global European Chamber of Commerce

“It is rare to find a platform that respects time and delivers direct, meaningful conversations with the right partners. This event achieved that.” – Czech Invest

The Prague Business & Investment Forum has positioned itself as a premier gateway for global entrepreneurs and investors, strengthening Czech–Philippine trade relations and setting the stage for the next series of international networking forums hosted by BusinessTrade Online.

BusinessTrade Online reaffirms its mission: to connect the world’s business leaders through curated meetings, fostering trust, efficiency, and results that drive international growth.

Landmark Investment Projects

Puerto Princesa Convention Hub – The MICE Project
Presented by Louis Durand (Ceres Ingenium) and with Noubikko Ulanday, CEO of RPCOnnect, this flagship project by SYNERGY SOLUTIONS Corporation will transform Mayor Lucilo Bayron Puerto Princesa into the Convention Capital of the Philippines..
Taytay, Rizal – Garment Capital Expansion
Recognized as the Philippines’ textile hub, Taytay offers scalable export opportunities for European buyers seeking competitive manufacturing with skilled labor.
AI World Resort Real Estate Expansion
Backed by Kazumi Honda, President of AI World Resort, this luxury tourism and real estate project positions the Philippines as a global resort destination with high ROI.
Cultural & Creative Film Industry Investments by Movie Director Arnold S. Argano, designed to boost the Philippines’ profile in global cinema
Ponce de Leon Historic Museum — blending heritage with tourism.
Renewable Energy & IT Outsourcing – Presented by Alexander Intell for Strong cross-border interest in green energy projects and BPO expansion
Resource platform on emergency preparedness - Get Ready
providing a total Resiliency program and solutions for organizations.

Prague Investment Forum Showcases High-Impact Philippine Investment Projects

Tomas Kauer - International News Writer and Moderator — Wed, 01 Apr 2026 01:42:40 +0900

Hosted by www.businesstrade.online. A highlight of the Forum was the presentation of major investment projects, demonstrating the Philippines’ potential for high-yield, strategic ventures across multiple sectors.

The Forum was honored by the presence of H.E. Eduardo Martin R. Menez, Philippine Ambassador to the Czech Republic; Ms. Marison Rodriguez, Chairperson of ENFiD – representing Filipino diaspora networks across 13 European countries; Mr. Eduard Muřický, Deputy Minister and Director General, Ministry of Industry and Trade of the Czech Republic; Mr. Stepan Klokocka, CEO of EURO Chamber of Commerce. Their presence reinforced strong institutional support for cross-border investments and public-private partnerships.

The landmark project were Puerto Princesa – The MICE Project presented by Louis Durand (Ceres Ingenium) and Noubikko Ulanday, representing the Synergy Solutions Corporation in delivering high-impact projects that attract international investors while shaping the Philippines as a global hub for convention, manufacturing, tourism, and culture. This flagship initiative, championed by Mayor Lucilo Bayron, aims to transform Puerto Princesa into the Convention Capital of the Philippines.

The Synergy Solutions team has initiated a consortium and is already in discussions with investors from Switzerland, France, and Italy. Durand’s Geneva-backed presentation earned a standing ovation from economists.

Strong Business Foundations

In addition to project showcases, the Forum provided essential insights into the Czech and Philippine business landscapes:

Qualified Worker Programme — Ms. Kristina Kučerová (MIT)
Czech–Philippine Economic Relations — Mr. Michal Horáček (MIT)
CzechTrade Activities in the Philippines — Mr. Ondřej Baše & Mr. Ondřej Puchinger
Czech Invest Opportunities — Ms. Ivana Mikošková

A Platform for Investors

The Forum facilitated pre-arranged B2B meetings, resulting in signed letters of intent and preliminary agreements. Investors praised the platform for removing barriers, accelerating negotiations, and opening high-growth opportunities in sectors ranging from renewable energy and IT outsourcing to tourism, real estate, and cultural industries.

Landmark Investment Projects that caught interest across the border are:

Taytay, Rizal – Garment Capital Expansion
Recognized as the Philippines’ Garment Capital, Taytay offers scalable export opportunities for European buyers seeking competitive manufacturing with skilled labor.
AI World Resort Real Estate Expansion
Backed by Kazumi Honda, President of AI World Resort, this luxury tourism and real estate project positions the Philippines as a global resort destination with high ROI.
Cultural & Creative Film Industry Investments by Movie Director Arnold S. Argano, designed to boost the Philippines’ profile in global cinema
Ponce de Leon Historic Museum — blending heritage with tourism.
Renewable Energy & IT Outsourcing – Presented by Alexander Intell for Strong cross-border interest in green energy projects and BPO expansion
Resource platform on emergency preparedness - Get Ready
providing a total Resiliency program and solutions for organizations.

Strategic Outcomes

Investor confidence strengthened through Synergy Solutions-led initiatives and multi-sector projects. Cross-border collaborations launched in tourism, real estate, manufacturing, energy, and creative industries. The Prague Business & Investment Forum reinforced BusinessTrade Online’s position as a gateway for high-value investment connections, bridging Europe and Asia for long-term growth

(LEAD) Seoul stocks end tad lower amid mixed signals on Iran war

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:07 +0900

SEOUL, March 27 (Yonhap) -- South Korean stocks closed a tad lower Friday after ...

Seoul stocks end tad lower amid mixed signals on Iran war

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:07 +0900

SEOUL, March 27 (Yonhap) -- South Korean stocks closed a tad lower Friday after ...

(LEAD) Korean won extends losses for 3rd session amid Middle East crisis

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:07 +0900

SEOUL, March 27 (Yonhap) -- The South Korean won weakened further against the U....

Chinese EV maker Zeekr to launch 7X SUV in S. Korea

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:07 +0900

SEOUL, March 27 (Yonhap) -- Premium Chinese electric vehicle (EV) maker Zeekr sa...

Samsung Electronics partners with BTS for world tour collaboration

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:06 +0900

SEOUL, March 27 (Yonhap) -- Samsung Electronics Co. said Friday it has partnered...

(LEAD) Samsung Electronics' unionized workers halt talks with management

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:06 +0900

SEOUL, March 27 (Yonhap) -- Unionized workers at Samsung Electronics Co. said Fr...

Samsung Electronics' unionized workers halt talks with management

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:06 +0900

SEOUL, March 27 (Yonhap) -- Unionized workers at Samsung Electronics Co. said Fr...

Foreign ownership in Samsung Electronics drops to 12 1/2 yr low

Tomas Kauer - International News Writer and Moderator — Sat, 28 Mar 2026 21:00:06 +0900

SEOUL, March 27 (Yonhap) -- Foreign holdings of shares in Samsung Electronics Co...

Davich Optical CEO eyes health care as future driver

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Davich Optical is bolstering its market position as optical health care provider, extending businesses from retail distribution of glasses and lens to tech-based health care services including smart glasses. CEO Jacob Kim has since last month broadened the company’s scope by signing two notable memorandums of understanding (MOUs) with specialist firms. One is a major Korean home electronic appliance developer focused on wellness lifestyle; the other is an Israeli smart glasses developer. The back-to-back deals, signed last month and this month, are still in their inception phases but point to the scope of the company’s ventures. On Feb. 9, Kim inked a deal with Ceragem, agreeing to jointly develop health care services in conjunction with Davich’s nationwide offline retailer network and Ceragem’s health care technologies. Their objectives include introducing offline customer spaces for wellness services, marketing cooperation, developing next-generation health care services and solutions, and developing new innovation and growth engines. Ceragem’s cafe franchise business, Well C

Industry minister calls for private sector cooperation in energy saving, supply chains

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Industry Minister Kim Jung-kwan on Friday called for private sector cooperation to help stabilize industrial supply chains and manage energy demands amid persisting turmoil in the Middle East, his office said. In a meeting with major business associations, Kim urged companies to step up efforts to secure alternative supply sources and refrain from disruptive actions, such as collusion and hoarding, according to the Ministry of Trade, Industry and Resources. The meeting was attended by senior officials from six business associations, including the Korea Chamber of Commerce and Industry and the Federation of Middle Market Enterprises of Korea. Kim also called for voluntary participation by private companies in a five-day vehicle rotation system and other energy-saving measures. The government began implementing the mandatory five-day vehicle rotation system for the public sector earlier this week as part of efforts to respond to crude oil supply disruptions sparked by the Mideast crisis. "Given the gravity of the situation, akin to a wartime footing, we must prepare for all possible scenari

Landing International to deliver K-beauty to US forces worldwide

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Korean cosmetic product distributor Landing International has landed a deal with a major retail distributor dedicated to the United States Armed Forces to offer K-beauty to military service members and their families worldwide. Landing International said Thursday it will exclusively distribute selected Korean cosmetic brands to Military Prestige Marketing, a New York-based reseller serving the U.S. military retail market with a focus on beauty, fragrance, haircare and fashion. Landing International said the global market for the U.S. forces has over 10 million consumers worldwide and sees overall sales of $15 billion per year on average. The consumers mostly have high loyalty for their favorite brands and show strong interests in beauty products, according to the firm. It added consumers across retail markets dedicated to the U.S. military service members shop more than four times a month on average. “The market has a strong potential across various beauty categories like skincare, haircare, fragrance and color makeup,” Landing International said in a press release. Landing Internatio

POSCO donates tactile exhibit to National Museum of Korea

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

The POSCO 1% Foundation has donated a PosArt-based tactile exhibit to the National Museum of Korea to help visitors with visual impairments and other disabilities better enjoy exhibitions, POSCO Group said Friday. PosArt is the steelmaker’s premium color steel plate that applies high-resolution inkjet printing technology on special steel materials. By layering ink through advanced three-dimensional deposition, it achieves more than four times the image clarity of conventional color-coated steel plates. Among the three types of PosArt-based installations donated is a tactile table that allows visitors to experience major calligraphic works through touch. The table includes braille descriptions placed at accessible heights for visitors with disabilities, while three-dimensional tactile panels reproduce the subtle brush movements of master artists. The feature also allows those without disabilities to explore the aesthetic beauty of traditional art through an expanded, multisensory experience. The other installations include a large scenic wall at the entrance of the reopened Calligraphy a

HD Construction Equipment's Australia sales up 56% this year

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

HD Construction Equipment is enjoying solid sales in Australia. The construction equipment developer subsidiary of HD Hyundai Group said Friday its sales in Australia in January to February increased 56 percent from the previous year. Last year the company sold 439 construction equipment in the country. With rising demands and more invested marketing efforts by the firm, the figure is anticipated to reach 1,000 this year. The company’s main focus is small-size equipment. The products account for half of the company’s sales across its global markets. It said it will boost the product group for the Australian market by further diversifying mini excavator lineup and introducing a compact track loader and bulldozer. Australia is one of HD Construction Equipment’s key global markets, generating demands of approximately 25,000 construction equipment per year on average. State-run infrastructure construction projects involving roads, railways and energy development as well as earth mineral excavation for ironstone and lithium keep fueling demands for construction equipment. Citing market a

[PHOTO] 2nd anniversary of Hyosung honorary chairman's death

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Hyosung officials pay respect at a memorial altar for late Honorary Chairman Cho Seok-rae during a ceremony marking his second death anniversary at the group's headquarters in Mapo District, Seoul, Friday. The memorial service was attended by Hyosung officials and family members including Hyosung Chairman Cho Hyun-joon and HS Hyosung Vice Chairman Cho Hyun-sang. Cho died on March 29, 2024, at the age of 89. Courtesy of Hyosung

Samsung’s Harman invests $151 mil. for self-driving tech in Hungary

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Automobile electronics company Harman International, a subsidiary of Samsung Electronics, will invest 131 million euros ($151 million) in its research and manufacturing bases in Hungary for self-driving technology development. According to the Hungarian Investment Promotion Agency on Friday, Harman’s investment will partly go to the development of software and hardware for autonomous driving functions at its main research and development center in Budapest. In Szekesfehervar, the company will conduct research and development on autonomous systems and information management solutions. The company will also increase productivity at its manufacturing bases in Szekesfehervar and Pecs by advancing manufacturing capabilities with automation and digitization. Harman’s investment comes as global automobile makers including Mercedes-Benz are increasingly gearing toward self-driving cars and software-defined cars. While doing so, automakers are expanding collaboration with electronics and electric system developers to introduce integrated systems for advanced vehicles. Industry officials say th

Google's TurboQuant unlikely to weaken memory demand: analysts

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Google’s announcement of TurboQuant is weighing on the share prices of memory companies, as the technology is expected to cut artificial intelligence (AI) models’ memory usage to about one-sixth of current levels. For analysts, however, concerns on the memory chip demand may be overblown, as they noted that even if memory demand per model declines due to TurboQuant, overall demand for AI continues to grow at a faster pace, keeping the broader memory market on a solid growth trajectory. Announced on Tuesday by Google Research, TurboQuant is a compression technology designed to maximize AI efficiency. The gist of the technology is compressing an AI model’s key value cache memory (KV cache) to just 3 bits, cutting its size by more than sixfold. KV cache is an AI model’s short-term memory, where it stores keys and values already calculated so it can generate the next words faster. A sixfold reduction in KV cache size effectively lowers memory usage to about one-sixth of current levels, making similar performance possible even with only one-sixth of the required memory. As AI services

Hanwha Solutions faces backlash over abrupt rights offering plan

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

Hanwha Solutions has drawn mounting criticism from both shareholders and securities analysts after it abruptly announced on Thursday a plan to raise capital by issuing new shares worth 2.4 trillion won ($1.6 billion). While minority shareholders have begun procedures to file petitions with the presidential office and the financial regulator to prevent the expected depreciation of their shares, analysts warned investors against buying the company’s stocks, expressing doubts about whether the proposed rights offering will achieve its intended goals. Under the plan announced just two days after the general shareholders’ meeting, Hanwha Solutions will issue new common shares so that it can use 1.5 trillion won of the proceeds to repay debts. The remaining 900 billion won will go toward strengthening its solar power business, operated by its Qcells division. Because the deal will add 72 million common shares to the 171.89 million outstanding ones, the company’s stock price fell 18.22 percent on the day of the announcement. It inched down another 3.13 percent to 35,650 won Friday. Act, a

KEPCO, KHNP agree to resolve legal dispute over UAE plant project at home: sources

Tomas Kauer - International News Writer and Moderator — Fri, 27 Mar 2026 21:00:14 +0900

The Korea Electric Power (KEPCO) and the Korea Hydro & Nuclear Power (KHNP) have reached a preliminary agreement to domestically settle their legal dispute over payments involving a United Arab Emirates (UAE) power plant project, informed sources said Friday. Such a decision was recently reported at the companies' respective board meetings, held about a month after the Ministry of Trade, Industry and Resources asked the companies to settle their differences at home, according to the sources familiar with the issue. The legal case has been pending at the London Court of International Arbitration (LCIA). The industry ministry advised the companies last month to bring the case to the Korean Commercial Arbitration Board. The ministry had cited cost benefits and a possible reduction in the litigation period, as well as the risks of Korea's nuclear power plant technologies potentially being leaked overseas. The ministry has also urged the companies to form a consultative body to hold negotiations for a resolution. KEPCO and KHNP have been in a dispute since last year over the payment of additi

(LEAD) Seoul shares end higher amid hopes for easing Mideast tensions

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- South Korean shares closed higher Friday amid hopes ...

Gov't audits state oil firm over failure to purchase 900,000 barrels of foreign-owned oil stored locally

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- The government launched Friday an audit into the Kor...

(LEAD) S. Korean won drops below 1,500 mark for 2nd day as Iran crisis persists

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- The South Korean currency finished below the 1,500 w...

Seoul shares end higher amid hopes for easing Mideast tensions

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- South Korean shares closed higher Friday amid hopes ...

Petrochemical firms at Yeosu complex submit restructuring plan to tackle industrywide crisis

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- Petrochemical companies at an industrial complex in ...

Media watchdog hosts forum on public access rights to global sports broadcast

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- South Korea's media watchdog on Friday hosted a publ...

Hyundai supplies Xcient fuel cell trucks for Uruguay zero-emission logistics project

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:06 +0900

SEOUL, March 20 (Yonhap) -- Hyundai Motor Co. said Friday it has supplied eight ...

S. Korea reports new bird flu case; total rises to 60

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:05 +0900

SEOUL, March 21 (Yonhap) -- South Korea has confirmed a new case of highly patho...

PM calls for government control tower for drone, counter-drone policy

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:05 +0900

SEOUL, March 20 (Yonhap) -- Prime Minister Kim Min-seok on Friday called for a g...

(LEAD) State oil firm under audit over foreign-owned oil shipped from S. Korean storage site

Tomas Kauer - International News Writer and Moderator — Sat, 21 Mar 2026 21:00:05 +0900

SEOUL, March 20 (Yonhap) -- The government on Friday launched an audit into Sout...

Will union strike, insider trading probe weigh on Samsung Electronics shares?

Tomas Kauer - International News Writer and Moderator — Fri, 20 Mar 2026 21:00:13 +0900

Market attention is increasingly focused on how a convergence of internal labor tensions and external legal risks surrounding Samsung Electronics could weigh on its share price trajectory, industry analysts said Thursday. A key challenge is the prospect of a labor strike, with the company’s union signaling a general walkout for the first time in nearly two years, raising the risk of renewed friction between management and workers. The tech giant’s joint union announced Wednesday that it formally secured strike authorization after winning 93.1 percent support in a vote. It plans to kick off its campaign with a rally on April 23, followed by a full-scale strike in May, pressing for reforms to the performance-based pay system and broader improvements in compensation. The union’s core demands for the 2026 wage talks include clearer criteria for calculating bonuses, the removal of caps on incentive payouts and a 7 percent pay raise. Should the strike materialize, it would mark only the second in the company’s history since its founding in 1969, after the first in July 2024, adding symb

Naver to offer dedicated search, maps, membership perks for BTS comeback

Tomas Kauer - International News Writer and Moderator — Fri, 20 Mar 2026 21:00:13 +0900

Naver said Friday it has updated its search engine, as well as its maps and navigation app, to help BTS fans enjoy the K-pop group’s comeback concert at Gwanghwamun Square in Seoul this Saturday. The Korean IT giant will also offer Naver Plus Membership subscribers access to BTS-related content on Netflix and Spotify. According to Naver, concertgoers will be able to locate seats, restrooms, information desks and medical facilities through the Naver Maps, Navigation app, which will provide real-time updates on road closures and public transportation near the venue. The features were introduced as Naver partnered with Netflix, which will livestream the concert. “Foreign visitors will find the services convenient since the map is available in multiple languages,” a Naver official said. Users will also be able to view three-dimensional images of streets surrounding the square by clicking on BTS-related keywords displayed in the app. In addition, those who search for BTS-related keywords on Naver through March 27 can enjoy interactive content celebrating the band’s comeback. Next month,

[PHOTO] Honoring late founder

Tomas Kauer - International News Writer and Moderator — Fri, 20 Mar 2026 21:00:13 +0900

HD Hyundai Chairman Chung Ki-sun, front row second from left, and company executives bow to the bust sculpture of late Hyundai Group founder Chung Ju-yung, who also founded HD Hyundai Heavy Industries, at the shipbuilding group's headquarters in Seongnam, Gyeonggi Province, Friday. The chairman honored his grandfather to commemorate his 25th death anniversary. HD Hyundai also served the founder's favorite food at company cafeterias that day. Courtesy of HD Hyundai

Lotte, Hanwha, DL to merge NCC operations in Yeosu

Tomas Kauer - International News Writer and Moderator — Fri, 20 Mar 2026 21:00:13 +0900

Petrochemical firms operating naphtha cracking centers (NCCs) in Yeosu, South Jeolla Province, submitted Friday self-rescue plans aimed at cutting production in line with the government’s effort to revive the sector struggling with a prolonged recession caused by oversupply from China and the Middle East. Under the plans, Lotte Chemical will spin off the division running its NCCs in Yeosu and merge it with Yeochun NCC, a joint venture between Hanwha Solutions and DL Chemical. The merger will create a new company. Lotte Chemical will also spin off the division overseeing its polypropylene and polyethylene production in Yeosu and merge it with the new company. Hanwha Solutions and DL Chemical will spin off their polyethylene divisions in the southern port city and join the merger as well. The companies said they will shift their focus to higher value-added products such as low-density polyethylene used for medical applications and polyolefin elastomer for hot melt adhesive in the automotive and cable industries. The Ministry of Trade, Industry and Resources said the government will provi

KB, Shinhan thrive abroad as Hana, Woori lag behind

Tomas Kauer - International News Writer and Moderator — Fri, 20 Mar 2026 21:00:13 +0900

Korea's four major banks posted sharply diverging results for their overseas performances in 2025, with Shinhan Bank and KB Kookmin Bank reporting gains while Hana Bank and Woori Bank saw steep declines in profit, industry officials said Friday. Combined net profits from the four lenders across their 37 overseas units totaled 833.4 billion won ($556 million) in 2025, up just 0.56 percent from a year earlier, according to the Financial Supervisory Service's public disclosure system, DART. By lender, Shinhan reported 586.9 billion won in net profit from its 10 overseas units, up 2.6 percent from a year earlier. KB Kookmin posted 116.3 billion won from five overseas units, posting a profit for the first time in four years. In contrast, Hana saw net profit from its 11 overseas units drop 33 percent year on year to 86.8 billion won, while Woori reported a 79 percent plunge to 43.5 billion won from its 11 overseas operations. The United States was a key driver of overseas earnings growth for Korean lenders. From their U.S. operations, Shinhan, Hana and Woori reported net profit of 18.4 billion

Hana Financial Group honors Winter Paralympics MVP Kim Yun-ji

Tomas Kauer - International News Writer and Moderator — Fri, 20 Mar 2026 21:00:13 +0900

Hana Financial Group hosted a celebratory event for Paralympic athlete Kim Yun-ji, who was named most valuable player (MVP) of the Korean delegation at the 2026 Milan-Cortina Winter Paralympics, the group said Friday. The event, held at the group's headquarters in central Seoul the previous day, brought together employees for a fan signing session and a ceremony to present a cash award in recognition of Kim's performance. At the Paralympics, held from March 5 to 16, the 19-year-old athlete won five medals — two gold and three silver — in biathlon and cross-country skiing. The result marked the first time a Korean athlete has won five medals at a single Olympic or Paralympic Winter Games. The gathering was held to celebrate Kim's achievements, which marked a new milestone for Korean sports, and to support her future endeavors, the group said, noting that her father is an employee at the group's affiliate Hana Card. "I was able to give my best performance until the end despite difficult conditions thanks to the support and encouragement I've received," Kim said. "I appreciate Hana Fina

S. Korea, Japan to hold regular policy dialogue on trade, supply chain issues

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 14 (Yonhap) -- South Korea and Japan agreed Saturday to establish a...

(LEAD) Air China to resume Beijing-Pyongyang route for 1st time in 6 yrs

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

BEIJING, March 13 (Yonhap) -- China's national carrier, Air China, will resume f...

Air China to resume Beijing-Pyongyang route

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

BEIJING, March 13 (Yonhap) -- China's national carrier, Air China, will resume f...

(LEAD) Gov't revises electricity rates for industrial use to ease burden on companies

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- The government on Friday revised the electricity rat...

Gov't revises electricity rates for industrial use to ease burden on companies

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- The government on Friday revised the electricity rat...

(2nd LD) Seoul shares down for 2nd day on prolonged Hormuz shutdown; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- South Korean stocks closed lower Friday as investors...

Duty free sales down by nearly 50 pct last year compared to 2019: data

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- Total sales at local duty free stores last year almo...

S. Korea eyes closer science ties with Finland in quantum, 6G sectors

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- South Korea will seek to expand cooperation with Fin...

Gov't vows enhanced interagency collaboration in securing strategic tech under NEXT initiative

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- The science ministry pledged Friday to enhance inter...

Watchdog urges brokerages to enhance monitoring of illegal short selling

Tomas Kauer - International News Writer and Moderator — Sat, 14 Mar 2026 21:00:09 +0900

SEOUL, March 13 (Yonhap) -- The country's financial watchdog said Friday that se...

Fears of force majeure spread across industries as Iran war continues

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

A growing number of Korean companies have declared or warned of force majeure, as the ongoing war between the United States, Israel and Iran has disrupted cargo shipments through the Strait of Hormuz. While petrochemical firms are struggling with a naphtha shortage, shipping and aviation companies have suspended operations on Middle Eastern routes. Force majeure is a term used in contracts to free parties from liability or obligation when an extraordinary event or circumstance beyond their control prevents them from fulfilling contractual duties. On March 4, Yeochun NCC became Korea’s first petrochemical firm to declare force majeure since the war broke out. The nation’s third-largest ethylene producer informed its customers of delays in product supply, saying the blockade of the Strait of Hormuz had postponed deliveries of naphtha expected to arrive this month. “The company is facing a critical disruption in the procurement of raw materials due to the sudden and drastic escalation of geopolitical tensions in the Middle East,” the joint venture between Hanwha Solutions and DL Chem

Europe, Middle East emerge as key markets for Korean defense firms

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Europe and the Middle East are emerging as major export markets for Korean defense firms as geopolitical tensions fuel demand for advanced weapons systems. Major Korean defense firms are expanding production networks in Central Europe while stepping up sales efforts in the Middle East, where intensifying regional clashes following recent U.S. and Israeli strikes on Iran have accelerated military procurement. In Europe, the defense firms are reshaping their strategies to localize their production system and strengthen regional supply chains. Hyundai Rotem plans to deliver 61 K2PL tanks produced in Poland to the country’s military between 2029 and 2031. The company has also signed a technology transfer contract with Polish defense firm Bumar that includes not only tank manufacturing but maintenance, repair and overhaul capabilities. Hanwha Aerospace is pursuing a similar strategy in Romania. The company began construction in February on a plant to produce K9 Thunder self-propelled howitzers and K10 ammunition resupply vehicles. The Romanian facility will handle not just assembly and testin

Is upcycling designer fashion innovation or infringement?

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Upcycling a fashion item to extend its usability instead of trashing it might be a sustainable and even rewarding practice for consumers. But what about companies that produce those items? It turns out they harbor mixed views on the practice. The issue surfaced last month when Louis Vuitton lost a court battle here against a repair shop in Seoul’s Gangnam District that for years repaired the brand’s handbags and other items for customers, changing their designs. While the French luxury brand argued trademark infringement, its defeat highlighted the growing practice among Korean consumers of modifying their products and raised new questions for fashion firms about how freely their items can be altered. Some companies said the consumer practice can create concerns about brand image. They argued that if the upcycling job was done by inexperienced crafters and resulted in a poorly constructed product emblazoned with the brand's logo, the brand's public image could be damaged. The consequences could be more damaging for more luxurious and high-end brands. “With the Supreme Court’s dec

Hanwha Aerospace partners with gaming giant Krafton to develop physical AI

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Hanwha Aerospace, Korea's leading defense systems company, and game publishing giant Krafton have agreed to jointly develop physical artificial intelligence (AI) technologies and establish a joint venture to commercialize them, the companies said Friday. Under their memorandum of understanding (MOU), the companies will pursue joint research and development (R&D) of core physical AI technologies, review verification and application scenarios, and establishment of technical and operational systems, according to the companies. They plan to commercialize the results of the joint development by establishing a joint venture and build a mid- to long-term cooperation framework. The collaboration will combine Hanwha Aerospace's defense and manufacturing infrastructure and unmanned system technologies with Krafton's AI research capabilities and software development expertise. The two companies plan to expand their cooperation into the space and aviation sectors over the long term. In addition, they will invest in a $1 billion fund established by Hanwha Asset Management focused on AI, robotics and d

Naver Cloud partners with Konan Technology on defense and manufacturing AI

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Naver Cloud is strengthening security and domain expertise in the defense and manufacturing sectors, forming a new partnership with artificial intelligence (AI) software firm Konan Technology. The tech company announced Friday that it signed a memorandum of understanding with Konan Technology to collaborate on defense and manufacturing-focused large language models (LLMs) and physical AI, as part of a broader effort to expand its generative AI ecosystem. Under the partnership, the two companies will build AI models optimized for national defense and manufacturing, where security and domain expertise are critical, and develop a practical framework for adopting physical AI to drive intelligent automation across industrial sites. Naver Cloud said it plans to use its full-stack AI capabilities with Konan Technology’s agentic AI innovation strategy to accelerate AI transformation in key strategic industries. “Through close collaboration with Konan Technology, we aim to create a new AI partnership model that combines defense and manufacturing-specialized LLMs with physical AI technologies,

Card firms target business clients as consumer market saturates

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Credit card companies are stepping up efforts to launch specialized cards designed for businesses in specific sectors as they shift their focus to business operators amid saturation in the consumer credit card market, industry officials said Friday. Card issuers are increasingly offering benefits tailored to the spending patterns of different sectors in an effort to build a loyal customer base. Payment volumes by business clients tend to be larger and their transaction cycles relatively stable, they said. Major card firms have recently introduced a series of products aimed at specific professions, including cargo truck operators and forestry workers. Unlike earlier products that were broadly categorized as business cards, the latest offerings are designed based on detailed analyses of industry-specific expenditure patterns. Woori Card recently rolled out the industry’s first fully non-face-to-face application and issuance system for cargo welfare cards that does not require document submissions. Instead of asking applicants to provide paperwork such as business registration certificates

Samsung chief returns from Europe after likely talks on EV battery cooperation

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Samsung Electronics Chairman Lee Jae-yong returned Friday to Seoul from a business trip to Europe after likely holding meetings with European carmakers for discussions on cooperating in the field of batteries. Lee replied, "Yes," as he returned via Gimpo International Airport in western Seoul with Samsung SDI Co. Chief Executive Officer (CEO) Choi Joo-sun when asked whether he had met with European automotive clients. Industry watchers speculate Lee likely met representatives from major German carmakers, including Mercedes-Benz, as Samsung Group aims to bolster its battery business through Samsung SDI. "We met with various clients (besides Mercedes-Benz as well)," Choi told reporters at the airport without elaborating on details. Samsung SDI, which currently counts BMW and Volkswagen among its major clients, is known to be in talks with Mercedes-Benz over the possible supply of electric vehicle (EV) batteries, according to industry sources. Lee, meanwhile, is widely expected to meet Lisa Su, the head of Advanced Micro Devices (AMD) Inc., next week in Korea.

AMCHAM hosts policy dialogue with PIPC chairperson

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

The American Chamber of Commerce in Korea (AMCHAM) hosted Song Kyung-hee, chairperson of the Personal Information Protection Commission (PIPC), for a policy dialogue in Seoul Friday. Amid growing public attention to personal data protection, the session brought together about 80 representatives from AMCHAM member companies and the broader business community. During the event, Song outlined key policy directions for Korea’s personal data protection framework in 2026 and exchanged views with participants on advancing trusted data use in the artificial intelligence (AI) era while strengthening privacy protections. “As both Korea and the United States place AI at the center of their economic strategies, this is an important moment to further deepen bilateral cooperation,” AMCHAM Chairman James Kim said. “Strengthening regulatory interoperability — particularly in areas such as data governance and cross-border data flows — will be essential to unlocking this potential.” Kim also cited AMCHAM’s 2026 Korea Business Environment Survey, noting that more than 65 percent of responden

Seoul to communicate with Washington over USTR probe on forced labor-linked imports

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

The government said Friday it will continue close consultations with the United States to protect national interests after Washington opened new investigations into Korea and 59 other economies over imports of goods produced with alleged forced labor. The Ministry of Trade, Industry and Resources said the government will closely communicate with the U.S. side under the principle of ensuring that the balance in profits from its trade deal with Washington is secured and that Seoul is treated no less favorably when compared with other major countries. The ministry statement came after the Office of the U.S. Trade Representative (USTR) said it has initiated probes into 60 economies, including Korea, China and Japan, under Section 301 of the 1974 Trade Act to determine whether their governments have taken sufficient steps to ban the importation of goods produced with forced labor. The announcement came just a day after the USTR opened a separate trade inquiry into Korea and 15 other economies to uncover what it calls "unfair" trade practices related to structural excess capacity and producti

Activist fund Align Partners presses DB Insurance on governance, shareholder returns

Tomas Kauer - International News Writer and Moderator — Fri, 13 Mar 2026 21:00:17 +0900

Align Partners Capital Management has ramped up pressure on DB Insurance over shareholder value concerns by sending a second open letter to the insurer’s board, the activist fund said Friday. In the letter, issued Thursday in response to DB Insurance’s first shareholder communication on March 5, Align Partners urged the company to take stronger measures to enhance shareholder value and presented additional views on corporate governance reforms and shareholder return policies. The activist investor called for several changes, including adopting a management strategy based on return on required capital, strengthening shareholder return policies, improving internal transactions with group IT affiliate DB Inc., shifting to a joint trademark ownership structure, overhauling the executive compensation system, and reinforcing board independence. Align also raised new concerns regarding DB Insurance’s acquisition of U.S. insurer Fortegra. In September last year, DB Insurance signed a $1.65 billion deal to acquire Fortegra, the largest overseas takeover by a Korean insurer to date. The fund

S. Korea reports 1 new bird flu case; total rises to 53

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 7 (Yonhap) -- South Korea has confirmed one additional case of high...

SK On lays off nearly 1,000 workers at Georgia battery plant amid EV slowdown

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 7 (Yonhap) -- SK On Co., a major South Korean battery manufacturer,...

Korean Air extends suspension of Incheon-Dubai route through March 15

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- Korean Air Co., South Korea's flag carrier, said Frid...

Doosan Enerbility wins U.S. order for 7 gas turbines for data center project

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- Doosan Enerbility Co., a major South Korean plant and...

(LEAD) Seoul shares end flat amid prolonged Iran crisis; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- South Korean stocks pared earlier losses to close nea...

Korean won drops to near 2-month low after volatile week amid Middle East crisis

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- The South Korean won fell to a nearly two-month low a...

Seoul shares end flat amid prolonged Iran crisis; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- South Korean stocks pared earlier losses to close nea...

Finance chief urges preemptive response to volatility in financial, energy markets

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- Finance Minister Koo Yun-cheol called Friday for a pr...

HD Hyundai Samho wins 263.2 bln-won oil tanker order in Greece

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- HD Hyundai Samho Heavy Industries Co. said Friday it ...

Seoul shares down 1 pct late Fri. morning on Middle East woes

Tomas Kauer - International News Writer and Moderator — Sat, 07 Mar 2026 22:00:06 +0900

SEOUL, March 6 (Yonhap) -- South Korean stocks traded lower late Friday morning ...

Industry minister, Hyundai Motor offer support for Seoul's submarine bid in Canada

Tomas Kauer - International News Writer and Moderator — Fri, 06 Mar 2026 22:00:13 +0900

Korean Industry Minister Kim Jung-kwan and high-ranking officials from major Korean companies, including Hyundai Motor, met with the Canadian industry minister this week to discuss industrial cooperation between the two countries, Kim's office said Friday, amid an ongoing bid by a Korean consortium to secure Canada's high-profile submarine project. Kim met with Canadian Industry Minister Melanie Joly on Thursday (local time) after they attended the construction completion ceremony of Korean battery maker LG Energy Solution's (LGES) battery plant in Ontario, according to the Ministry of Trade, Industry and Resources. Their meeting was also joined by officials from Hyundai Motor and other Korean companies as the two sides are discussing broader cooperation in various industries in connection with the Korean consortium's bid to secure the estimated 60 trillion-won ($40.6 billion) Canadian Patrol Submarine Project. The Korean consortium, comprising Hanwha Ocean and HD Hyundai Heavy Industries, is competing against Germany's Thyssenkrupp Marine Systems to win orders for all 12 submarines to

Preorders for Galaxy S26 series hit 1.35 mil. in Korea

Tomas Kauer - International News Writer and Moderator — Fri, 06 Mar 2026 22:00:13 +0900

Samsung Electronics said Friday preorders for its Galaxy S26 series smartphones in Korea reached 1.35 million, setting a new record for the flagship S series. The figure surpassed about 1.3 million preorders placed for the Galaxy S25 lineup in 2025, the company said. Samsung said among the three models of the latest series — the Galaxy S26, the Galaxy S26+ and the Galaxy S26 Ultra — the premium Ultra edition accounted for 70 percent of total preorders, reflecting strong demand for high-end smartphones. The company said white and black were the most popular options for the Ultra and the base model, while the Galaxy S26+ was most frequently ordered in black and violet. The Galaxy S26 Ultra features the industry's first built-in privacy display and runs on the Snapdragon 8 Elite Gen 5 for Galaxy processor, which delivers a 39 percent improvement in neural processing unit performance compared with its predecessor. Consumers who purchased the devices through preorders can activate them through the country's mobile carriers starting Friday, with the official release scheduled for Wednesday

Property ownership rule hampers insurers' push into senior care business

Tomas Kauer - International News Writer and Moderator — Fri, 06 Mar 2026 22:00:13 +0900

Insurers are weighing entry into the rapidly expanding senior care sector, including nursing homes and long-term care facilities, but regulatory requirements that mandate operators own the land and buildings used for such facilities are emerging as a major hurdle, industry officials said Thursday. According to the Ministry of Data and Statistics, the share of people aged 65 and older surpassed 20 percent of the population in 2025 and is projected to approach 30 percent by 2035. As Korea transitions deeper into a super-aged society, demand for long-term care services is expected to surge, prompting life insurers to explore the sector as a potential new growth engine. Despite the rising demand, only a handful of insurers affiliated with financial holding companies have entered the business so far. Most insurers remain cautious, largely because the regulatory framework creates high entry barriers by requiring heavy upfront investment in property ownership. Under the enforcement rules of the Welfare of Senior Citizens Act, businesses operating nursing facilities with 10 or more residents mu

LG Energy Solution opens Canada's 1st commercial-scale battery plant

Tomas Kauer - International News Writer and Moderator — Fri, 06 Mar 2026 22:00:13 +0900

LG Energy Solution (LGES) said Friday that NextStar Energy, the Korean battery maker’s Canadian subsidiary, has completed Canada’s first and only commercial-scale battery manufacturing facility, built to produce batteries for electric vehicles and energy storage systems on a 390,000-square-meter site. During the grand opening ceremony on Thursday (local time), Industry Minister Kim Jung-kwan called the new factory “an important symbol and milestone” of industrial cooperation between Korea and Canada, and asked his Canadian counterpart to continue bilateral collaboration in the submarine sector as well, extending government support for Hanwha Ocean’s bid to win the Royal Canadian Navy’s order for 12 new patrol submarines worth 60 billion Canadian dollars ($43 billion). At the event, Kim said it was particularly meaningful that the plant was built in Ontario, a province that sent troops to help defend Korea during the 1950-53 Korean War. “Just as LGES has fulfilled its commitment to investment and employment, let’s build a long-term, trust-based partnership for the future

Fuel prices surge after Iran crisis, raising collusion concerns in Korea

Tomas Kauer - International News Writer and Moderator — Fri, 06 Mar 2026 22:00:13 +0900

Fuel prices in Korea are rising at an unusually steep pace following the recent Iran crisis, raising concerns over possible collusion by gas stations and prompting renewed calls for stronger government intervention. According to Opinet, the fuel price information system operated by the state-run Korea National Oil Corp., average gasoline prices across the nation reached 1,871.83 won ($1.27) per liter as of 5 p.m. Friday, up 37.55 won from the previous day. Diesel prices climbed even more sharply, rising by 57.13 won over the same period to reach 1,877.38 won per liter. The latest surge pushed domestic gasoline prices above 1,800 won per liter for the first time in more than three years. The spike comes in the aftermath of U.S. and Israeli airstrikes on Iran and retaliatory moves by Tehran, which have fueled volatility in global oil prices. Industry officials and gas station operators said structural factors within the domestic fuel distribution system make it difficult to curb rapid price hikes. Under the current system, oil refiners supply fuel to gas stations at a provisional price and l

Heir's US citizenship puts Poongsan in dilemma over munitions business

Tomas Kauer - International News Writer and Moderator — Fri, 06 Mar 2026 22:00:13 +0900

Poongsan is remaining ambiguous about rumors that it may sell its profitable munitions business so the chairman’s son, who holds U.S. citizenship, can take over management without violating Korean laws that restrict foreign nationals from running defense firms. Poongsan produces 155-millimeter artillery shells used in the K9 self-propelled howitzer, which has been exported to multiple countries, including Poland and Romania. According to industry sources and media reports, the copper products and munitions manufacturer emailed employees Thursday to reassure them that no decision had been made. Poongsan Vice Chairman Park Woo-dong, known as Chairman Ryu Jin’s right-hand man, reportedly told employees in the email that the rumors seemed to have been fueled by heightened attention in the financial market to the company’s possible restructuring plans. On Wednesday, local news outlets reported that Poongsan had hired U.S. investment bank Lazard, law firm Kim & Chang and accounting firm Samil PwC as advisers for the possible sale of its munitions business to a domestic defense company fo

S. Korea reports 3rd foot-and-mouth disease case this year

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 28 (Yonhap) -- South Korea reported its third foot-and-mouth disease...

Lee launches TikTok account, steps up social media engagement

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 28 (Yonhap) -- President Lee Jae Myung opened an account on the popu...

(LEAD) Seoul shares snap 6-day winning streak on profit-taking; won sharply down

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 27 (Yonhap) -- Seoul shares closed lower Friday, snapping a six-sess...

(2nd LD) S. Korea conditionally approves Google's overseas transfer of high-precision map data

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 27 (Yonhap) -- The government on Friday decided to allow global tech...

(LEAD) Gov't to expand public procurement of domestic AI products to support growth

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 27 (Yonhap) -- The government will expand public procurement program...

(LEAD) S. Korea conditionally approves Google's overseas transfer of high-precision map data

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 27 (Yonhap) -- The government on Friday decided to allow global tech...

S. Korea conditionally approves Google's overseas transfer of high-precision map data

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

SEOUL, Feb. 27 (Yonhap) -- The government on Friday decided to allow global tech...

(URGENT) S. Korea conditionally approves Google's overseas transfer of high-precision map data

Tomas Kauer - International News Writer and Moderator — Sat, 28 Feb 2026 22:00:06 +0900

(END)

Coupang founder apologizes over data leak in earnings call

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Bom Kim, Coupang founder and chairman of the U.S.-headquartered Coupang Inc., issued his first verbal apology regarding last year’s large-scale customer data breach in Korea, during an earnings call, Friday. Speaking during Coupang Inc.'s earnings call for the fourth quarter of last year, Kim said he once again apologized for the customers' concern and inconvenience caused by the personal data leak that occurred last year. Kim issued a written apology in December, about a month after the data breach was disclosed, but this was the first time that he has apologized directly in a public setting.

Seoul shares snap 6-day winning streak on profit-taking; won sharply down

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Seoul shares closed lower Friday, snapping a six-session winning streak as investors locked in profits in technology and other large-cap stocks following recent gains. The Korean won sharply fell against the U.S. dollar. The benchmark KOSPI fell 63.14 points, or 1 percent, to finish at 6,244.13. The index still enjoyed a weekly gain of 7.5 percent. Trading volume was heavy at 1.14 billion shares worth 52.94 trillion won ($36.8 billion), with decliners far outnumbering gainers 625 to 264. The KOSPI has remained in a bullish phase since the start of the year, surpassing the 4,500-point level for the first time on Jan. 6 and crossing the 5,000-point mark on Jan. 27. It broke through the 6,000-point level Wednesday, less than a month later. On Thursday, the index jumped 3.67 percent to finish at a record high of 6,307.27. Institutional and retail investors purchased a net 491.99 billion won and 6.08 trillion won worth of shares, respectively, while foreign investors sold a net 6.83 trillion won. Analysts said the decline mirrored overnight losses in U.S. technology stocks, where investors enga

Korean Air's carbon emissions down 3.3% in 2025 despite increased flights

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Korean Air's carbon emissions from flight operations dropped 3.3 percent from a year earlier in 2025 despite an increase in the number of flights, the company said Friday. The airline said its annual carbon emissions totaled 12.18 million tons last year, down by about 420,000 tons from 12.6 million tons in 2024. The South Korean flag carrier managed to reduce its emissions volume last year despite a 2.6 percent year-on-year increase in operations to 189,851 flights. The airline attributed the reduction to comprehensive fuel management efforts, including the deployment of newer aircraft, optimized flight routes and selection of alternate airports for short-haul flights. Korean Air said it has also overhauled its operational system to minimize carbon emissions and introduced technologies based on artificial intelligence (AI) to enhance fuel management efficiency.

Gov't to expand public procurement of domestic AI products to support growth

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

The government will expand public procurement programs for innovative artificial intelligence (AI) products from local companies to support the growth of the sector, Finance Minister Koo Yun-cheol said Friday. Koo outlined the plan during a meeting with executives from AI and robotics companies, aimed at reviewing the market entry and growth process of innovative firms that have entered the AI industry, the finance ministry said. "Public procurement will serve as a catalyst for AI innovation, transforming people's lives and helping companies expand into global markets," Koos said, emphasizing that AI is a core strategic sector that will shape the country's future. As part of the plan, the government will first introduce an exclusive review committee in September to accelerate the entry of innovative, high-performing AI products into the public procurement market. The government will also require that at least 50 percent of components used in designated innovative products be domestically produced to strengthen ties with the local supply chain. In addition, the government will continue exp

Gov't advises KEPCO, KHNP to resolve legal dispute over UAE plant project at home

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

The government on Friday advised the Korea Electric Power Corp. (KEPCO) and the Korea Hydro & Nuclear Power Co. (KHNP) to settle their legal dispute over payments involving a United Arab Emirates (UAE) power plant project domestically. The Ministry of Trade, Industry and Resources advised the two state-run companies to transfer the case, currently pending at the London Court of International Arbitration (LCIA), to the Korean Commercial Arbitration Board. It cited benefits in the cost and litigation period, as well as risks of South Korea's nuclear power plant technologies potentially being leaked overseas. The ministry also urged the companies to form a consultative body to hold negotiations for a resolution. KEPCO and KHNP have been undergoing a dispute for months over the payment of additional construction costs for their joint Barakah nuclear power plant project, under which they completed the construction of four nuclear reactors in the UAE. The 20 trillion-won ($13.95 billion) project marked Korea's first-ever overseas nuclear power project. Last year, KHNP filed an arbitration claim

Hyundai Motor to invest $6.3 bil. for physical AI, robots in Saemangeum

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Hyundai Motor Group will invest 9 trillion won ($6.26 billion) in the Saemangeum area of North Jeolla Province to set up an artificial intelligence (AI) data center for a physical AI, robot and component manufacturing cluster, water electrolysis plant, solar power facility and hydrogen model city. Hyundai Motor Group announced this initiative on Friday during an MOU signing ceremony attended by President Lee Jae Myung, along with ministers and municipal leaders. Hyundai Motor Group Executive Chair Chung Euisun and other top executives of the group also joined the ceremony. “The next-generation industrial paradigm that will take shape in Saemangeum will become a pivotal turning point for the future of not only North Jeolla Province but also Korea,” Hyundai Motor Group Vice Chair Chang Jae-hoon said while introducing the initiative. “Equipped with manufacturing expertise as well as capabilities in robotics, AI and hydrogen energy, Hyundai Motor Group is ready to build an advanced industrial ecosystem.” Saemangeum is a massive reclaimed area in North Jeolla Province developed for m

Banks' lending rates rise for 3rd consecutive month in January amid regulations

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Banks' overall lending rates rose for the third consecutive month in January, driven by higher household loan rates amid tighter regulations aimed at stabilizing the housing market, data showed Friday. The average interest rate on new bank loans stood at 4.24 percent last month, up 0.05 percentage point from December, according to the data from the Bank of Korea (BOK). The figure has increased steadily since November 2025. The increase came as the rate on new household loans climbed 0.15 percentage point to 4.5 percent, marking a fourth consecutive monthly increase. In particular, the average rate on home-backed mortgage loans rose 0.06 percentage point to 4.29 percent. The government earlier introduced stricter rules on home purchase loans to cool the overheated property market and rein in household debt. The average rate on corporate loans, however, edged down 0.01 percentage point to 4.15 percent, posting its first decline since November. At its latest rate-setting meeting Thursday, the central bank kept its benchmark interest rate unchanged for a sixth consecutive meeting, seeking to s

Korea conditionally approves Google request to export map data

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

The government on Friday approved Google's request to transfer Korea's high-definition map data outside the country while also requiring the U.S. tech giant to implement additional safeguards. A consultative body consisting of seven Korean ministries and private advisers held a meeting at the National Geographic Information Institute in Suwon, Gyeonggi Province, and finalized the approval. The decision to export the 1:5,000 scale map came after Google filed its latest request in February 2025. Korea had rejected similar requests by Google in 2007 and 2016, citing national security concerns that sensitive facilities, such as military bases, could be exposed. It is the first time Korea has allowed a foreign company access to high-precision map data. A key condition for Google to accept is requiring its partner firms in Korea to use servers here when processing the map’s raw data, for security purposes. The edited map must also be approved by the Korean government before being transferred outside the country. The map’s usage by Google is also limited to navigation and direction services.

Hana, Dunamu test blockchain FX remittance as alternative to global messaging system

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Hana Financial Group has completed a proof-of-concept project for a blockchain-based cross-border remittance service in partnership with Dunamu, the operator of Korea’s largest cryptocurrency exchange, Upbit, the companies said Friday. The pilot replaced the conventional Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network with Dunamu’s proprietary blockchain platform, the GIWA Chain, to test whether international transfers could be processed through the new system. According to Hana, the trial showed that blockchain can significantly reduce settlement times and transaction costs compared with the traditional SWIFT framework. The system also met key compliance requirements, including anti-money laundering and know-your-customer checks, as well as other internal control standards related to foreign exchange transactions. The initiative marks the first tangible outcome of the strategic alliance the two companies formed in December to jointly develop blockchain-based global financial services. Building on the results, Hana Financial Group plans to roll o

Coupang founder apologizes, seeks exit strategy from conflict with gov't

Tomas Kauer - International News Writer and Moderator — Fri, 27 Feb 2026 22:00:17 +0900

Ongoing tension between Korea and Coupang over the U.S.-based e-commerce company's data leak incident, which has emerged as a major trade issue between Korea and the U.S., saw notable progress on Friday when Coupang founder Bom Kim made his first in-person apology over the incident. In a seminar in Washington, former American Chamber of Commerce in Korea (AMCHAM) President Tami Overby advised Kim to visit Seoul and apologize to the public over the case, in which personal information of 33.67 million customers was compromised. “First, I want to apologize again for the concern and inconvenience the data incident has caused," Kim said in a conference call for Coupang investors in the U.S. Thursday (local time). "Everything we’ve built at Coupang has been driven by a single focus — wowing our customers. Our customers are the only reason we exist, and earning their trust is something we strive to do every single day.” It was his first in-person apology, although he had issued a written apology last December, about a month after the data breach was made public. Harold Rogers, Coupang K

(Olympics) IOC apologizes after South Korean flag displayed incorrectly at medal ceremony

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

MILAN, Feb. 20 (Yonhap) -- A South Korean national flag was displayed incorrectl...

Gov't picks Motif team as new contender for homegrown AI model development

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 20 (Yonhap) -- The science ministry said Friday it has picked a cons...

(2nd LD) Seoul stocks again end at record high of above 5,800 despite global uncertainties

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 20 (Yonhap) -- South Korean stocks topped the 5,800-point mark for t...

(LEAD) Seoul stocks again end at record high of above 5,800 despite global uncertainties

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 20 (Yonhap) -- South Korean stocks topped the 5,800-point mark for t...

Seoul stocks again end at record high of above 5,800 despite global uncertainties

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 20 (Yonhap) -- South Korean stocks topped the 5,800-point mark for t...

POSCO Holdings to cancel 635.1 bln won in treasury shares in 2026

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 20 (Yonhap) -- POSCO Holdings Inc., South Korea's leading steelmaker...

Samsung Heavy wins 368 bln-won LNG ship order in Oceania

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 20 (Yonhap) -- Samsung Heavy Industries Co. said Friday it has secur...

(News Focus) U.S. tariff ruling fuels fresh uncertainty for S. Korean trade; firms unlikely to alter investment strategies

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:12 +0900

SEOUL, Feb. 21 (Yonhap) -- The U.S. Supreme Court's decision to strike down Pres...

Chronology of major events of S. Korea-U.S. tariff deal leading to U.S. Supreme Court ruling

Tomas Kauer - International News Writer and Moderator — Sat, 21 Feb 2026 22:00:11 +0900

SEOUL, Feb. 21 (Yonhap) -- The following is a chronology of major events related...

CJ, 6 other flour makers under FTC probe for price-fixing

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

CJ CheilJedang and six other flour makers in Korea have come under an intensive probe by the Fair Trade Commission (FTC) over alleged price-fixing, a move that could lead to penalties totaling up to 1 trillion won ($690 million). The firms are suspected of having engaged in repeated collusion over flour prices and distribution for nearly six years starting in 2019. The watchdog estimated that sales affected by the alleged cartel activity amounted to approximately 5.8 trillion won during the same period. The seven firms include CJ CheilJedang, Samhwa Flour Mills, Samyang, Daesun Flour Mills, Daehan Flour Mills, Sajo DongA One and Hantop. According to the FTC, it can impose fines of up to 20 percent of the sales generated from products affected by collusion. The latest investigation is part of the watchdog’s broader investigation to root out collusive and unfair practices that undermine price stability for essential goods here. The latest probe, which began in October 2025, focused on the business-to-business (B2B) flour transaction. The seven firms account for a combined market share of

Brand ambassadors increase clout for carmakers

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

Global car brands are stepping up collaborations with high-profile actors and sports stars to build a stronger brand identity and capture early momentum for sales growth at the start of 2026. Swedish premium electric vehicle (EV) brand Polestar is the latest to join the trend, appointing actor Kim Woo-bin as its new brand ambassador. Kim made a surprise appearance at a recent media event for the carmaker, marking his first official engagement with the firm. He promoted the Polestar 3 electric SUV and the Polestar 5 high-performance electric sedan during the event. Polestar explained that it decided to collaborate with Kim due to his distinctive and trustworthy character. “Actor Kim Woo-bin has his own color and is characterized by his trustworthy image,” Polestar Korea CEO Ham Jong-sung said. “We expect him to deliver Polestar’s values in design, performance and sustainability to customers with sincerity.” Polestar Korea spent considerable time explaining its partnership with Kim, noting that the company faces relatively low brand awareness compared with other brands that boast

Korea under pressure to invest in Louisiana LNG to lower US tariffs

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

A U.S. request for Korea to invest in Louisiana’s liquefied natural gas (LNG) industry has emerged as a key agenda item in ongoing trade talks between the two countries. U.S. President Donald Trump’s threat to raise tariffs on Korean goods back to 25 percent from 15 percent — the level agreed upon last November — has been attributed partly to Seoul’s rejection of that request. The Ministry of Trade, Industry and Resources on Friday neither confirmed nor denied a report that Washington began warning of the tariff hike after Korea refused to invest in Louisiana LNG export terminals. Citing multiple government sources, the Dong-A Ilbo reported that Seoul’s trade negotiators told their U.S. counterparts that it would be difficult to make decisions unless the National Assembly passes a bill to formalize Korea’s planned $350 billion investment in American industries. “Please excuse us for not going into specifics about discussions on U.S. investment projects,” the ministry spokesperson said in a press statement. The government’s working-level delegation sent to Washington on

POSCO Holdings to cancel 635.1 bil won in treasury shares in 2026

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

POSCO Holdings, South Korea's leading steelmaker, said Friday it will cancel 635.1 billion won ($439 million) worth of treasury shares this year to enhance shareholder value. The planned cancellation represents 2 percent of the company's total treasury shares and forms part of a broader three-year plan to retire 1.7 trillion won, or 6 percent of its total treasury shares, from 2024 through 2026, the company said in a press release. POSCO Holdings said it will maintain its dividend of 10,000 won per share this year despite a global economic slowdown and rising protectionism in key export markets. For 2025, the company's net profit plunged 47 percent to 500 billion won from 950 billion won a year earlier partly due to the impact of sweeping U.S. tariffs on steel imports. The United States currently imposes a 50 percent tariff on steel imports from South Korea.

Hanwha Ocean’s conflict with subcontracted workers undermines Lee’s praise

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

Unionized subcontracted workers at Hanwha Ocean’s Geoje shipyard in South Gyeongsang Province have denounced the company, accusing it of breaking a promise to align the ratio of subcontracted workers’ performance-based bonuses to their base salaries with that of the company’s direct employees — a pledge praised by President Lee Jae Myung in December. After Hanwha Ocean distributed performance-based bonuses ahead of the Lunar New Year holiday, the workers claimed the company had continued to discriminate against them. “Unlike direct employees, whose length of service did not affect the ratio of their performance-based bonuses to base pay, the ratio for subcontracted workers varied depending on how many years they had worked at the shipyard,” the workers said in a statement Thursday. “Each of the 4,000 migrant subcontracted workers received a performance-based bonus equal to 46.8 percent of what Korean subcontracted workers with the same tenure received.” The union also said that employees of Welliv, the unit managing cafeterias and other amenities at the shipyard, did not

Motif-led consortium joins national AI foundation model project

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

The Ministry of Science and ICT said Friday it has selected a consortium led by Motif Technologies as an additional participant in the government-led project to develop homegrown artificial intelligence (AI) foundation models. The newly admitted team — which includes the Korea Advanced Institute of Science and Technology — will join the three previously shortlisted consortia led by SK Telecom, LG AI Research and Upstage. Last month, the ministry advanced those three teams to the second round after eliminating two others led by Naver Cloud and NC AI in the first-stage evaluation. The initial assessment examined benchmark performance, expert review and user experience, with technological originality serving as a key requirement. The ministry said Naver Cloud failed to meet the criteria for developing a fully independent model architecture trained from scratch, while NC AI also did not advance. Upon announcing the results, the government said it would recruit one additional consortium to fill the fourth slot, as only three teams had qualified despite the original plan to advance four. An

It is not biotech, it is 'techbio'

Tomas Kauer - International News Writer and Moderator — Fri, 20 Feb 2026 22:00:23 +0900

Startup representatives researching biotechnology say they have transitioned from "biotech" to "techbio." While it sounds like a simple play on words, the shift highlights a critical reality for the industry: Biological research is now entirely dependent on heavy hardware. Biological data operates on an unprecedented scale. Analyzing biological tissue measuring just 2 centimeters by 2 centimeters generates data in the petabytes (PB), equivalent to one quadrillion bytes. Consuming 1 PB is equivalent to watching a 1-gigabyte high-definition movie continuously for 13 years, or filling 1,024 1-terabyte hard drives. The sheer volume creates a severe logistical problem; the CEO of one biotechnology startup has said that transferring several PB of data to a cloud center via the internet takes four days. For urgent international collaborations, researchers face a frustrating reality. They must physically pack storage drives into their luggage and board airplanes. In the digital age, this physical transport — often called a "sneakernet" — remains faster than internet transmission for the lif

(LEAD) S. Korea reports 15th African swine fever case this season

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 14 (Yonhap) -- South Korea on Saturday confirmed the 15th case of Af...

S. Korea reports 15th African swine fever case this season

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 14 (Yonhap) -- South Korea on Saturday confirmed the 15th case of Af...

S. Korea's stock loans on roll set to reach record high

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 14 (Yonhap) -- Local investors are borrowing a large amount in loans...

Share of exports by top 10 firms hits record high in 2025 on strong chip demand: data

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 14 (Yonhap) -- Exports by South Korea's 10 largest companies account...

Trade minister attends U.S.-led multilateral meeting on critical mineral supply chains

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 13 (Yonhap) -- Trade Minister Yeo Han-koo attended a meeting hosted ...

(LEAD) KOSPI snaps 4-day winning streak despite briefly touching new high

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 13 (Yonhap) -- South Korean stocks closed lower Friday, snapping a f...

KOSPI snaps 4-day winning streak despite briefly touching new high

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 13 (Yonhap) -- South Korean stocks closed lower Friday, snapping a f...

(LEAD) LIG Nex1's 2025 operating profit up 44.5 pct on strong missile exports

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 13 (Yonhap) -- LIG Nex1 Co., a South Korean precision-guided missile...

BOK floats 4.8 tln worth of fresh bills ahead of extended Lunar New Year holiday

Tomas Kauer - International News Writer and Moderator — Sat, 14 Feb 2026 22:00:05 +0900

SEOUL, Feb. 13 (Yonhap) -- The central bank said Friday it has supplied a net 4....

[TEST DRIVE] Genesis GV60 Magma demonstrates commitment for luxury EVs

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

YONGIN, Gyeonggi Province — The Genesis GV60 Magma has clearly demonstrated that a composed ride and high performance need not be mutually exclusive in the era of electric vehicles (EVs). The vehicle is engineered to deliver the two somewhat contrasting features — quiet comfort and sustained high-speed travel — making it more distinguished than other conventional performance cars that focus mostly on realizing dynamic driving. The high-performance electric SUV is built on a clear identity: luxury performance. Genesis invited reporters to its showroom in Yongin's Suji District and offered a test drive that stretched roughly 50 kilometers one way to the Korea Automobile Testing & Research Institute (KATRI) in Hwaseong, Gyeonggi Province. The first impression of the GV60 Magma is shaped by its exclusive bucket seats. Despite the track-focused design, they remain comfortable. On the move, the vehicle stands out as notably quiet even among high-performance EVs, making it an ideal option for those seeking to enjoy both a comfortable daily ride and a powerful sports car-like experience o

Seoul stocks up late Friday morning, moving toward new high

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Korean stocks traded higher late Friday morning, inching toward a new high after breaching the landmark 5,500-point mark the previous day. After starting marginally lower, the benchmark Korea Composite Stock Price Index (KOSPI) added 24.5 points, or 0.44 percent, to 5,546.77 as of 11:20 a.m., continuing its bullish run one day after hitting the 5,500-point milestone for the first time. Tech giant Samsung Electronics increased 1.29 percent, surpassing the 180,000 won (US$125) mark for the first time, with preferred stocks of the company soaring 6.14 percent. Another semiconductor heavyweight SK hynix rose 0.45 percent. Artificial intelligence (AI) investment firm SK Square climbed 1.58 percent. Their strong performance came despite overnight losses on Wall Street sparked by concerns related to AI's impact across various industries. Power plant manufacturer Doosan Enerbility jumped 2.83 percent, and major shipbuilder HD Hyundai Heavy escalated 2.41 percent. On the other hand, leading battery maker LG Energy Solution shed 2.56 percent, and auto giant Hyundai Motor dipped 0.99 percent. Defense g

Hyundai Palisade, Kia EV9 win 2026 Canadian Car of the Year awards

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Hyundai Motor said Thursday its Palisade sport utility vehicle (SUV) and affiliate Kia Corp.'s EV9 electric SUV have been named among the four winners at the 2026 Canadian Car of the Year Awards (CCOTY), presented by the Automobile Journalists Association of Canada (AJAC). A jury of 53 AJAC automotive journalists evaluated vehicles across multiple categories, citing quality, interior ergonomics and broad consumer appeal as key factors in their selections. The Palisade was named Canadian Utility Vehicle of the Year, marking Hyundai's second consecutive win in the category following the Hyundai Santa Fe's victory in 2025. Judges awarded high marks to the Palisade's next-generation hybrid powertrain, safety technologies and overall refinement. The EV9 earned the title of Canadian Electric Utility Vehicle of the Year after previously advancing to the finalist stage in 2024 and 2025. The all-electric SUV was recognized for its exterior design, user-friendly infotainment system and competitive pricing. "These awards demonstrate that Hyundai Motor Group vehicles continue to gain recognition in

ARC Raiders propels Nexon into North America, lifting sales 4.6 times

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Nexon’s extraction shooter ARC Raiders is propelling the Korean game developer’s push into the North American market, as its popularity drives unprecedented earnings in the region. According to Nexon on Friday, its 2025 sales rose 6 percent from a year earlier to a record 475.1 billion yen (4.5 trillion won or $3.1 billion) to set a new record. Operating profit remained flat at 124 billion yen. Nexon reports earnings in yen as it is listed on the Tokyo Stock Exchange. Its holding company, NXC, is based in Korea, and Nexon’s wholly owned unit, Nexon Korea, oversees game development. Buoying the revenue growth were strong sales in North America and Europe. Driven by the success of ARC Raiders, fourth-quarter sales in the two regions surged 364 percent from a year earlier to reach 39.8 billion yen, marking record performances in quarterly and annual basis. Launched globally last October, ARC Raiders is a player-versus-player-versus-environment shooter game whose cumulative sales have surpassed 14 million copies as of this month. The title has drawn favorable responses from Western use

Grand Korea Leisure engages in volunteer activity before Lunar New Year

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Grand Korea Leisure (GKL), a public company that operates the Seven Luck casino, said Thursday that it conducted holiday support and volunteer efforts to help about 400 vulnerable households for the Lunar New Year. The activities were carried out in cooperation with social welfare centers in Busan and Seoul’s Gangnam District, with additional support coordinated through the GKL Social Contribution Foundation in Yongsan District in Seoul. In the Gangnam area, GKL and the Suseo Myeonghwa Comprehensive Social Welfare Center hosted a Lunar New Year dumpling making event for elderly residents in need. GKL employees volunteered alongside participants to prepare traditional holiday foods, including dumplings and rice cake soup. In Yongsan, the GKL Social Contribution Foundation provided holiday food and daily necessities to local children’s welfare facilities, aiming to reach children who might otherwise be overlooked during the holiday period. In Busan, GKL partnered with the Busanjin District Comprehensive Social Welfare Center to assemble holiday food packages for vulnerable families and

Thermo Fisher expands research capacity for secondary batteries

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Thermo Fisher Scientific Korea has renewed its partnership with a state-funded chemical research agency to cooperate on the key initiative of developing the country's secondary battery production capabilities. General Manager Seok Soo-jin signed a memorandum of understanding on Wednesday with Kim Myeong-hwan, director of the Next-Generation Battery Strategy Center at the Korea Research Institute of Chemical Technology (KRICT). Under the deal, they agreed to exchange technologies, share laboratory tools and other analytic infrastructures, conduct joint research and provide training. The Korean office of global scientific research giant Thermo Fisher Scientific has been working with the KRICT battery unit since 2024, jointly developing ways to improve the performance of secondary batteries. They had previously collaborated on a study of lithium-ion transport mechanisms within lithium metal battery cathodes. The KRICT battery research center is part of K-Battery Innovation Consortium (K-BIC) for Korean researchers and companies. Thermo Fisher Scientific Korea, using K-BIC’s research infr

2 scholars win awards from accounting association, Deloitte Anjin

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Two accounting scholars — Yoon Jae-won at Hongik University and Lee Han-sol of Kangwon National University — have been named the 2026 recipients of the Korean Accounting Association-Deloitte Anjin Academic Award for their research contributions to capital market integrity and corporate governance reform, Deloitte Anjin said. The prize is organized by the Korean Accounting Association and sponsored by Deloitte Anjin, one of the Big Four accounting firms in Korea. The presentation ceremony was held on Wednesday at Deloitte Korea’s headquarters in Seoul. Yoon received the Honors Award, a distinction granted to established mid-career academics who have demonstrated consistent and influential scholarship in areas such as accounting transparency and governance systems. She has examined core issues including accounting standards and internal control over financial reporting. More recently, her academic focus has shifted toward evolving regulatory and institutional practices, including environmental, social and governance reporting and XBRL-based financial reporting systems. She joined Hon

SK chief meets Nvidia, Google CEOs to explore AI cooperation

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

SK Group Chairman Chey Tae-won has met with the heads of leading U.S. tech firms, including Nvidia, Google LLC and Microsoft, to discuss business ties in the artificial intelligence (AI) sector, SK hynix said Friday. According to the Korean chipmaker, Chey met with Nvidia Chief Executive Officer (CEO) Jensen Huang on Thursday last week (U.S. time) in Silicon Valley to discuss potential AI collaborations. "The partnership, which began during the early stages of HBM development amid market uncertainty, has evolved into a strategic relationship that extends beyond supply to joint product planning," SK hynix said in a release. "SK hynix aims to expand its collaboration with Nvidia from AI chips to broader AI infrastructure," it added. On Tuesday, Chey also met with Microsoft CEO Satya Nadella in Seattle to discuss cooperation in high bandwidth memory (HBM) along with AI data centers and solutions. "The meeting reflects SK Group's strategy to strengthen its position in the global AI ecosystem by broadening cooperation with Microsoft beyond semiconductors into AI infrastructure and services," t

Gentle Monster won’t tone down bold design for Google AI glasses

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Korean eyewear brand Gentle Monster is currently designing an upcoming lineup of artificial intelligence (AI)-based smart glasses by Google. But IICombined, the operator of the provocative brand, has one thing it will not compromise in this project: the outrageously creative designs the brand is best known for. Under the project, Gentle Monster is tasked with product design and branding for the Google smart glasses. The job came after Google last June invested $100 million into IICombined, appointing it as a key design partner for the next-generation AI smart glasses. Now, Gentle Monster has a clear objective: to create a comfortable, stylish design that is acceptable for daily wearers. To accomplish the task, the firm must carefully take into account the glasses’ intricate hardware modules, including display and sensors, as well as Android XR, the Google software running the device. Aside from the technical challenges, the brand will need to infuse its unique aesthetic into the design, living up to public expectations of the brand's flamboyant identity. Many of its styles feature eye

Science minister to pitch Korea's capabilities at India AI Impact Summit

Tomas Kauer - International News Writer and Moderator — Fri, 13 Feb 2026 22:00:13 +0900

Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon will attend the upcoming India AI Impact Summit 2026, slated to run from Monday through Feb. 20 in New Delhi, leading the Korean government delegation. The summit is expected to serve as a high-level platform that gathers representatives from about 100 countries, as well as industry and academic leaders, to discuss artificial intelligence (AI) governance and its social impact. This year’s event will be the fourth summit, and it is especially meaningful as it will be hosted for the first time in a developing nation. During the event, Bae plans to emphasize the importance of global cooperation to ensure that advances in AI technology translate into shared prosperity for humanity, underscoring Korea’s intent to play a leading role. He will also present on the country’s experience in digital transformation across sectors such as healthcare, manufacturing and education; its strength in semiconductors and digital infrastructure; and its policy experience with the recently-implemented revised AI basic law. “The India AI

S. Korea reports 2 more bird flu cases at poultry farms; total now at 41

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 7 (Yonhap) -- South Korea has confirmed two additional cases of high...

(2nd LD) Bithumb mistakenly sends 620,000 bitcoins to users, most of them recovered

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 7 (Yonhap) -- Bithumb, one of South Korea's crypto exchanges, said S...

(LEAD) Bithumb mistakenly sends 620,000 bitcoins to users, most of them recovered

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 7 (Yonhap) -- Bithumb, one of South Korea's crypto exchanges, said S...

Bithumb mistakenly sends 620,000 bitcoins to users, most of them recovered

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 7 (Yonhap) -- Bithumb, one of South Korea's crypto exchanges, said S...

Coupang's interim CEO undergoes 14-hr questioning over perjury allegations

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 7 (Yonhap) -- Harold Rogers, interim CEO of Coupang Corp., returned ...

S. Korea reports 8th African swine fever case

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 7 (Yonhap) -- South Korea on Saturday confirmed the eighth case of A...

S. Korea reports new bird flu case at layer farm; total now at 39

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 6 (Yonhap) -- South Korea has confirmed an additional case of highly...

(Olympics) Samsung chief seen attending dinner hosted by IOC president in Milan

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 6 (Yonhap) -- Samsung Electronics Co. Chairman Lee Jae-yong has atte...

(LEAD) Amorepacific swings to Q4 net profit on overseas sales

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 6 (Yonhap) -- Amorepacific Corp., South Korea's leading cosmetics co...

LG Energy Solution to acquire full stake in Canadian JV with Stellantis

Tomas Kauer - International News Writer and Moderator — Sat, 07 Feb 2026 22:00:07 +0900

SEOUL, Feb. 6 (Yonhap) -- LG Energy Solution Ltd. said Friday it plans to acquir...

Hanwha Aerospace, KAI forge MOU for joint UAV, aircraft projects

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

Hanwha Aerospace and Korea Aerospace Industries (KAI) have tentatively agreed to pursue joint future projects under a goal to strengthen the competitiveness of Korea's defense sector, the companies said Friday. Under a memorandum of understanding (MOU) signed Thursday, the two sides plan to seek joint projects, including the development and exports of unmanned aerial vehicles (UAVs), and aircraft equipped with domestically produced engines. The partnership is expected to create strong synergies, as KAI is Korea's sole full-scale aircraft developer, while Hanwha Aerospace is the country's leading aircraft engine producer. The companies said their cooperation could extend to the development of advanced aircraft engines for future KF-21 fighter jets, as well as joint expansion into the global UAV market. Top executives from the companies will hold regular joint meetings to establish a cooperation framework aimed at reducing unnecessary competition and building a win-win growth model for Korea's aerospace and defense industry, according to the firms.

Coway logs 15% revenue growth in 2025 on strong domestic, overseas demand

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

Coway posted double-digit revenue growth in 2025, supported by strong domestic demand and continued expansion in overseas markets, the company said Friday. The home appliance maker reported consolidated revenue of 4.96 trillion won ($3.7 billion) for the year, up 15.2 percent from a year earlier. Operating profit rose 10.5 percent to 878.7 billion won. Fourth-quarter revenue climbed 13.3 percent year-on-year to 1.28 trillion won, while operating profit edged down 1 percent to 181.6 billion won. “Despite persistent global economic uncertainties, Coway was able to achieve both growth and profitability by strengthening its core capabilities, expanding its product portfolio and reinforcing its research and development,” CEO Seo Jang-won said. The company attributed its performance to a mid- to long-term strategy focused on product innovation, entry into new business areas and expansion of its global footprint, a direction set out by Netmarble and Coway Chairman Bang Jun-hyuk. Coway’s domestic business generated revenue of 2.87 trillion won in 2025, an 11 percent increase from the previo

Gov't to double support for companies investing in far-away regions

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

The government is pushing to increase state support for high-tech companies investing in regions far from the Seoul metropolitan area as part of its latest efforts to promote balanced regional development, the budget ministry said Friday. The plan was unveiled during a meeting co-hosted by the Ministry of Planning and Budget and the Ministry of Trade, Industry and Resources, which also brought together representatives from key strategic industries, including semiconductors, batteries and robotics. Under the proposal, companies making investments in regions distant from the capital area could receive double the national funding for infrastructure costs in high-tech strategic industrial complexes that would normally be available to those investing in the capital and its surrounding areas, according to the ministry. The support would cover expenses for roads, water facilities and in-plant power substations, potentially easing companies' financial burdens and boosting their competitiveness, it said. A national committee, chaired by the prime minister, is expected to approve the scale of corp

Possible US 25% tariff puts Hyundai, Kia earnings under pressure

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

Hyundai Motor Group is growing increasingly anxious over the possible reinstatement of a 25 percent U.S. tariff on Korean-made vehicles, a move that could cost Hyundai Motor and Kia a combined 11 trillion won ($7.48 billion) annually, according to market estimates. The renewed trade pressure from Washington comes amid heightened scrutiny of Korea’s investigation into Coupang, a U.S.-headquartered e-commerce firm — a dispute that industry officials and analysts fear could spill over into broader trade measures affecting Korean automakers. Korean automakers are currently subject to a 15 percent tariff after Seoul and Washington reached a bilateral trade agreement last November. However, the Donald Trump administration has warned it could restore the tariff rate to 25 percent on Korean-made vehicles, citing delays in Korea’s legislative process to implement the deal. A return to the higher tariff would significantly weigh on Hyundai Motor Group’s earnings. According to Daol Investment & Securities, Hyundai Motor and Kia would face a combined annual cost of about 11 trillion won if

Luxury carmakers toughen efforts in race for electric SUVs

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

Korea’s imported car market is shaping up to be a battleground for electric SUVs, as global automakers rush to roll out high-performance, premium all-electric cars with strong commercial appeal this year. German luxury brands, such as BMW and Mercedes-Benz, are set to lead the trend, with other overseas carmakers jumping on the bandwagon with their new electric models. BMW Korea plans to launch the all-new iX3 in the second half of this year, marking the first mass-produced model featuring the carmaker’s next-generation “Neue Klasse” electric platform. Designed for efficiency, the electric SUV boasts a driving range of up to 805 kilometers under European standards and supports ultrafast charging via an 800-volt high-voltage system. BMW aims to apply the Neue Klasse platform to about 40 new and upgraded models by 2027, a strategy intended to rapidly expand its electric vehicle (EV) lineup and secure a competitive edge in the upcoming era of EVs. Mercedes-Benz Korea is also scheduled to launch its all-electric premium compact SUV, the GLC with EQ Technology. The vehicle was ranked a

Boston Dynamics acknowledges safety risks in humanoid robots

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

A senior engineer at Boston Dynamics admitted Friday that humanoid robots carry inherent risks and uncertainty, saying that limiting unpredictability is the most effective way to ensure safe interaction between humans and machines. Speaking in Seoul, Federico Vincentini, head of product safety at the U.S. robotics firm owned by Hyundai Motor Group, said humanoid robots are “intrinsically unpredictable,” making “zero uncertainty” impossible even with advanced technology. "It's never completely clear or understood where a humanoid robot will walk next," Vincentini said during the first Humanoid TechCon in Seoul. "Asking a robot that is intrinsically uncertain to be certain is a paradox." His remarks came amid Hyundai Motor's conflict with its union over the automaker's planned deployment of Boston Dynamics-developed Atlas humanoid robots at factories in Korea and abroad. Fearing job losses, unionized workers have urged management to discuss the deployments in advance. Vincentini's speech on building trustworthy humanoid robots for real-world operations, however, made clear that Hyund

LG Energy Solution to take full control of Canadian battery JV with Stellantis

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

LG Energy Solution said Friday it will acquire the full stake in its joint venture with multinational automaker Stellantis, making the Canadian firm a wholly owned subsidiary. In a regulatory filing, the Korean battery maker said it will acquire Stellantis’ 49 percent stake in NextStar Energy for just $100, effectively gaining full ownership of the joint venture originally established in 2022 in Ontario, Canada. Industry analysts described the deal as highly favorable, noting that Stellantis’ initial investment in the joint venture totaled $980 million, meaning LG Energy Solution secured a fully operational factory at a fraction of the cost. LG Energy Solution plans to use the NextStar Energy facility as a key production hub for energy storage system (ESS) batteries, targeting the rapidly growing North American ESS market. Despite the ownership change, LG and Stellantis will continue their business cooperation, with Stellantis still set to receive electric vehicle (EV) batteries produced at the Canadian plant. “Full ownership of NextStar Energy will enable us to respond swiftly to

Samsung chief seen attending dinner hosted by IOC president in Milan

Tomas Kauer - International News Writer and Moderator — Fri, 06 Feb 2026 22:00:14 +0900

Samsung Electronics Chairman Lee Jae-yong has attended a dinner hosted by the head of the International Olympic Committee (IOC) on the occasion of the 2026 Milan-Cortina Winter Olympics, industry sources said Friday. Lee attended the event hosted by IOC President Kirsty Coventry in Milan on Thursday (local time), on the eve of the Winter Olympics, along with other prominent figures, including U.S. Vice President JD Vance, according to the sources. He left South Korea a day earlier for Italy to hold meetings with international business and sports officials during the quadrennial sporting event, which is set to kick off later Friday. The trip follows Lee's visit to the Paris Olympics in 2024, when he attended a gathering of global business leaders at the Elysee Palace at the invitation of French President Emmanuel Macron. Samsung Electronics has been a Worldwide Olympic Partner since 1998.

Industry minister says 'unnecessary misunderstandings' resolved via tariff talks with U.S.

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 31 (Yonhap) -- South Korea's Industry Minister Kim Jung-kwan said Sa...

Lee aide voices confidence in Canadian submarine project bid

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 31 (Yonhap) -- Lee Jae Myung's top aide on Saturday voiced confidenc...

(LEAD) First FMD case in 9 months confirmed in Incheon

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 31 (Yonhap) -- The first case of foot-and-mouth disease (FMD) in nin...

First FMD case in 9 months confirmed in Incheon

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 31 (Yonhap) -- The first case of foot-and-mouth disease (FMD) in nin...

Hanwha Aerospace signs US$1.9 bln contract to supply Norway with Chunmoo rocket systems

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 30 (Yonhap) -- Hanwha Aerospace Co., a South Korean defense giant, o...

SK Telecom rejects consumer agency's compensation settlement over personal data leak

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 30 (Yonhap) -- SK Telecom Co., South Korea's top mobile carrier, ref...

(LEAD) Seoul stocks renew record high on AI confidence amid U.S. tariff woes

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 30 (Yonhap) -- South Korean stocks closed a tad higher Friday to ext...

Seoul stocks renew record high on AI confidence amid U.S. tariff woes

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 30 (Yonhap) -- South Korean stocks closed a tad higher Friday to ext...

Samsung SDI wins U.S. battery deal, possibly for Tesla ESS

Tomas Kauer - International News Writer and Moderator — Sat, 31 Jan 2026 22:00:05 +0900

SEOUL, Jan. 30 (Yonhap) -- Samsung SDI Co. said Friday its U.S. arm has won a ba...

Korean nanosatellite establishes contact after successful launch

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

A Korean nanosatellite has successfully entered orbit after lifting off from a launch site in New Zealand, as part of the nation's project to create a satellite constellation for Earth observation by 2027, officials said Friday. The NEONSAT-1A was deployed to a 540-kilometer low Earth orbit from the Electron rocket of U.S. space company Rocket Lab Corp. after launching from the company's Mahia Launch Complex in New Zealand at 2:21 p.m. (local time), or 10:21 a.m. (Korean time), according to the Korea AeroSpace Administration (KASA). KASA confirmed the satellite's successful deployment after it made its first contact with the Korea Aerospace Research Institute's ground station in the central South Korean city of Daejeon at 1:12 p.m. (Korean time). The satellite is scheduled to begin its observation mission from July following a six-month test run conducted by the Korea Advanced Institute of Science and Technology (KAIST), the developer of the nanosatellite, KASA said. It is the second among a total of 11 nanosatellites to form a satellite constellation aimed at monitoring and taking image

Samsung Bioepis cleared for eye treatment biosimilar sale in Europe, UK

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

Samsung Bioepis has reached a settlement with Regeneron and Bayer over the commercialization of SB15, a biosimilar to eye treatment Eylea, allowing the Korean drug developer to launch the treatment in Europe and the United Kingdom. According to Samsung Bioepis on Friday, it signed a settlement and license agreement with the two global pharmaceuticals regarding the commercialization of its low-concentration SB15 in countries excluding the United States and Canada. The agreement allows Samsung Bioepis to launch SB15 in the U.K. as of January, in the rest of Europe starting in April and in the remaining countries in the settlement, excluding Korea, starting in May. The drug, jointly developed by Bayer and Regeneron, recorded global sales of $9.74 billion in 2024. While the treatment lost patent protection in the United States and Korea in 2024 and in Europe last year, the two pharmaceutical companies have been defending their market position based on formulation and manufacturing process patents valid through June 2027. The remaining task for Samsung Bioepis is to reach a settlement with Re

Starbucks Korea to recall humidifiers over fire concerns

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

Starbucks Korea said Friday it will voluntarily recall more than 390,000 humidifiers distributed as promotional giveaways late last year after a report of a fire linked to battery overheating. The recall covers 393,548 humidifiers handed out through the company's winter e-Frequency promotion between Oct. 30 and Dec. 31, Starbucks Korea said in a press release. "We apologize for any inconvenience caused to customers and will carry out the recall procedures promptly and thoroughly, with customer safety as our top priority," the company said. Starbucks Korea urged customers to stop using the products immediately. Customers who return the humidifiers will receive a 30,000-won ($20) Starbucks mobile card, the company said, adding that a parcel pickup service via its mobile app will be available starting Monday. Starbucks Korea operated 2,076 outlets here as of October 2025. Shinsegae Group's discount store chain E-Mart holds a 67.5 percent stake in Starbucks Korea, while the Government of Singapore Investment Corp (GIC) owns the remaining 32.5 percent.

Samsung SDI wins US battery deal, possibly for Tesla ESS

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

Samsung SDI said Friday its U.S. arm has won a battery supply contract without disclosing details, with the deal widely believed to be related to Tesla's energy storage system (ESS) business. The Korean battery maker said details of the agreement, including the amount, counterparty and period, are being kept confidential for business reasons and that it will withhold further disclosure until January 2030. The latest regulatory filing followed a separate announcement made in November 2025, in which Samsung SDI hinted it had been in talks to supply battery products to Tesla. The earlier filing came in response to a request from the Korea Exchange to explain media reports that the company plans to supply batteries for Tesla's ESS business worth 3 trillion won ($2.08 billion). "The demand for ESS is expanding significantly due to the sharp growth in the artificial intelligence industry," an industry watcher said. "It seems Samsung SDI is securing a series of agreements by demonstrating performance, safety and price competitiveness in the ESS market."

KHNP opens bid to select candidate sites for new nuclear reactors

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

The state-run Korea Hydro & Nuclear Power (KHNP) has opened a bidding process to select candidate sites to host two new nuclear reactors to be built by 2038, company officials said Friday. The KHNP began the bidding process just a few days after the government confirmed plans to build two large-scale nuclear reactors between 2037 and 2038 as outlined under the 11th basic plan for electricity supply and demand. On Monday, the climate ministry said it will stick to the country's plan to build additional nuclear reactors, citing growing power demand driven by the growth of the artificial intelligence (AI) sector and the need to increase the use of clean energy. Since then, a number of cities and towns, including the southeastern cities of Busan and Ulsan, have reportedly shown interest in hosting the new nuclear reactors. The KHNP plans to select sites for the new reactors by 2027 to receive the nuclear safety watchdog's approval for the construction plan by 2031. The KHNP said it has also opened a bidding process to select the host site for a next-generation small modular reactor.

Lee pledges to expand support for starting new biz amid AI transition

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

President Lee Jae Myung said Friday the government will expand support for starting new businesses to encourage people with innovative ideas to launch startups and adapt to shifts in the job market driven by artificial intelligence (AI). Lee addressed growing concerns in the job market over the deployment of AI-powered robots on production lines, citing the humanoid robot Atlas developed by Boston Dynamics, a U.S. affiliate of Hyundai Motor Group. Atlas has drawn attention after Hyundai Motor's labor union said it would oppose any plan to mass-produce the robot and deploy it at the company's factories, following its unveiling earlier this month at the Consumer Electronics Show (CES) in Las Vegas. "How frightening and unsettling would it be to hear that the job you have safely relied on your entire life could be replaced by AI robots that neither eat nor sleep and operate 24 hours a day," Lee said during a startup strategy meeting at Cheong Wa Dae. "I can understand the frustration (of workers)," he said. "But we have to adapt to this new trend, and one solution lies in starting new busin

Musinsa aims to replicate Japan, China success in Southeast Asia

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

Fashion and beauty shopping platform operator Musinsa is bolstering its global market expansion to Southeast Asia following its notable market growth in Japan and China last year. The company said Friday it has designated Thailand, Vietnam and Indonesia as key markets in the region. Adopting its successful marketing strategies used in the Japanese and Chinese markets, Musinsa plans to launch online and offline sales in the three countries. The announcement came as the company posted 240 billion won ($167 million) in overseas transactions last year. Musinsa has been hosting pop-up stores and opening flagship stores overseas and distributing to countries through online platforms. The largest growth came from Japan. Musinsa’s global online stores saw sales in Japan last year jump 145 percent from the previous year. The company’s products are also available at Japanese e-commerce platform ZoZo Town. The online sales in Japan are not concentrated in major cities like Tokyo but instead are spread across broader regions, including Kanagawa prefecture, Osaka and Fukuoka. Musinsa said this sh

Merck names Benjamin Hein as new Electronics CEO

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

Merck has appointed Benjamin Hein as a new member of its executive board and CEO of the company’s electronics business. The company announced on Friday that Hein will officially assume the role on May 1, succeeding Kai Beckmann, who will take over as chair of the executive board and CEO of Merck Group on the same date. Hein, 38, will return to the electronics business sector at Merck’s global headquarters in Germany after holding several global leadership positions across the group. “During his 13 years at Merck, Ben Hein has consistently demonstrated strategic vision and a passion for innovation that has accelerated Merck’s growth,” the company’s Chairman of the Executive Board, Johannes Baillou, said. “Leading the electronics business sector is a natural next step, where Ben will bring deep understanding of the industry and customers, and the technologies we create. His extensive leadership experience in Asia, Europe and the United States, make him perfectly suited for this role.” To ensure a smooth transition, Hein will join the electronics' leadership team on March 1 a

LG Electronics sees robotics as future growth driver

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

LG Electronics has proposed its artificial intelligence (AI) robotics business as its next growth driver, seeking to counteract a slowdown in its conventional revenue sources of TVs and home appliances. During its fourth quarter earnings call for 2025 on Friday, LG Electronics Chief Financial Officer Kim Chang-tae said the company is seeking to create synergies between its home appliance expertise and AI humanoid robots. “LG Electronics has been accumulating technological know-how in areas such as motors, actuators and autonomous driving in the segments of industrial robots and service robots,” he said. “As a company with a deep understanding of the home environment, we are presenting AI-powered home solutions.” During CES 2026 earlier this month, LG Electronics presented its CLOiD home robot, which interacted with its surroundings by performing tasks such as folding towels and taking milk out of a refrigerator using its arms. In doing so, the company presented its new vision of “a zero labor home,” where robots and other appliances free users from household chores. To realiz

SK Telecom rejects arbitration recommending W100,000 compensation per customer

Tomas Kauer - International News Writer and Moderator — Fri, 30 Jan 2026 22:00:12 +0900

SK Telecom, whose massive data breach last year exposed the personal information of 23 million subscribers, rejected a public agency’s arbitration recommending compensation of 100,000 won ($69.40) per customer. The telecoms operator said in a statement that it had “thoroughly reviewed” the Korea Consumer Agency’s decision but decided to reject the arbitration because it had already “implemented its own compensation plans and security measures” and because “accepting the arbitration proposal may cause significant impacts.” In December, the Korea Consumer Agency’s Consumer Dispute Settlement Commission issued an arbitration decision after 58 SK Telecom users filed complaints over the data breach in April. The commission proposed that SK Telecom compensate all of its subscribers with a 50,000 won discount on their mobile bills, along with 50,000 membership points that can be used at partner companies. If SK Telecom accepted the arbitration, the total compensation it would owe is estimated at around 2.3 trillion won ($1.6 billion). With SK Telecom rejecting the arbitration,

Trade minister urges USTR to separate Coupang probe from Seoul-Washington trade issues

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 24 (Yonhap) -- Trade Minister Yeo Han-koo said Saturday he has stres...

(LEAD) (Yonhap Interview) Bunjang Global offers chance for all global fans to get hard-to-find K-pop goods

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- Photocards -- often referred to as "poca" by fans -- ...

(LEAD) Seoul shares up for 3rd day to close at fresh peak, just shy of 5,000

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- South Korean stocks closed higher Friday at a fresh p...

(LEAD) Coupang denies involvement in U.S. investors' petition against Seoul gov't

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- Coupang Inc. said Friday it is not involved in a peti...

Seoul shares up for 3rd day to close at fresh peak, just shy of 5,000

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- South Korean stocks closed higher Friday at a fresh p...

Gov't starts process to pick 1 more contender for AI foundation model development

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- The science ministry said Friday it has kicked off th...

(LEAD) Samsung E&A Q4 net jumps 72.9 pct on plant deals

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- Samsung E&A Co., the plant engineering arm of Sam...

(LEAD) Samsung Electro-Mechanics Q4 net income up 7.6 pct on AI demand

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- Samsung Electro-Mechanics Co. said Friday its fourth-...

Volatile FX market biggest risk to financial system: survey

Tomas Kauer - International News Writer and Moderator — Sat, 24 Jan 2026 22:00:08 +0900

SEOUL, Jan. 23 (Yonhap) -- More than one in four financial experts believe incre...

Stellantis Korea to revive sales with new vehicles from Jeep, Peugeot

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

Stellantis Korea will revive its 2026 sales momentum by launching two new strategic lineups — Peugeot’s 5008 hybrid SUV and the Jeep Grand Cherokee, its CEO Bang Sil told reporters during a press conference, Thursday. Bang, who took the helm at Stellantis Korea on Feb. 1, 2024, is now entering her third year as CEO, facing mounting challenges as the carmaker grapples with declining vehicle sales. The carmaker recently began accepting pre-orders for the Peugeot 5008, a premium SUV, ahead of its official launch in Korea this February. The third-generation 5008 is equipped with Stellantis’ much-touted electrification platform, the STLA Medium, which makes the vehicle a well-balanced option in terms of fuel efficiency and environmental friendliness, the carmaker said. “The 5008 SUV will play an important role in refreshing Peugeot’s momentum and drive a turnaround of the brand in Korea,” Bang said. “The model is a mid-size SUV with solid demand from customers.” The fully redesigned vehicle offers improved interior space, flexible seating configurations and versatile cargo opti

Banks race to win over military customers to secure lifelong clients

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

Shinhan Bank, Hana Bank and the Industrial Bank of Korea (IBK), selected as operators for the third phase of the government-backed Nara Sarang Card program for enlisted soldiers, have recently rolled out their respective benefit schemes, kicking off a new round of competition, industry officials said Thursday. The banks aim to reach young soldiers during their first meaningful exposure to formal financial services during mandatory military service and retain them as long-term customers after discharge. The Nara Sarang Card, literally translated as the “Love of Country Card,” is issued to all conscription-eligible men as part of the military enlistment process and functions as both a payment and salary card throughout their service. For banks, securing the mandate means gaining access to around 200,000 new customers annually through a highly stable channel, making the program one of the most sought-after opportunities in the retail banking sector. Shinhan Bank served as the sole operator during the first phase, while the second phase adopted a two-bank model involving KB Kookmin Bank

Seoul to provide 400 bil. won in financial support to shipbuilding industry

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

A special guarantee program will be launched to provide up to 400 billion won ($272.4 million) in financing support to help the shipbuilding industry enhance its export competitiveness, the industry ministry said Friday. The program is aimed at offering low-interest loans to small and medium-sized suppliers of South Korean shipbuilding giant HD Hyundai Heavy Industries, according to the Ministry of Trade, Industry and Resources. To this end, HD Hyundai and Hana Bank will make a special contribution of a combined 28 billion won, which will be used by the state-run Korea Trade Insurance Corp. (K-Sure) to provide payment guarantees for up to 400 billion won worth of low-interest loans to the suppliers of HD Hyundai. K-SURE, HD Hyundai and Hana Bank held a cooperation agreement signing ceremony for the special program Friday in the southeastern city of Ulsan, home to major shipbuilding companies.

Trade minister meets USTR, trade officials of major economies at Davos forum

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

South Korean Trade Minister Yeo Han-koo held a series of meetings with U.S. Trade Representative (USTR) Jamieson Greer and ranking trade officials of other major economies during the annual World Economic Forum (WEF) this week to discuss pending trade issues, Yeo's office said Friday. In his meeting with Greer, Yeo and the USTR agreed to continue close communications for stable management of trade relations between the two countries, the Ministry of Trade, Industry and Resources said, without elaborating on the details of their discussions. Yeo and Greer are counterparts for consultations on non-tariff trade barrier (NTB) issues between Seoul and Washington. The two countries agreed to work together to address NTB issues under a joint trade deal reached last year. Recently, Seoul's push for digital regulations has emerged as a potential trade conflict with the U.S., with Washington raising concerns over Seoul's ongoing investigation into a massive data breach at Coupang, a U.S. listed e-commerce firm with a large customer base in South Korea. Yeo also met with other U.S. officials, includ

Civic groups condemn Coupang investors' petition against S. Korean gov't

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

Domestic civic groups on Friday denounced a request by two U.S. investors in e-commerce giant Coupang for the U.S. government to investigate the South Korean government's alleged discrimination against the U.S.-listed firm. The People's Solidarity for Participatory Democracy (PSPD), based in Seoul, issued a statement, condemning the U.S. investors' move as an attempt to violate South Korea's sovereignty by undermining its legitimate law enforcement and regulatory authority. "A U.S.-listed company, which generates the majority of its revenue in South Korea, failed to take even basic protection measures and leaked a massive amount of personal information of three quarters of the Korean population," the statement said. "Nevertheless, the American political and business communities have set out to apply diplomatic and trade pressure over the Korean government's measures. It is not the basic attitude of a civilized nation." The PSPD then urged the Seoul government to respond firmly and resolutely according to the law and principles, rather than yielding to threats from the U.S. political and

AI to fuel Korea's agricultural assistance for developing nations

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

JEONJU, North Jeolla Province — Korea will step up assistance for developing countries in the agricultural sector, leveraging a state-led initiative to apply artificial intelligence (AI) to farming technologies, data-driven advisory services and the development of climate-resilient crops, according to the head of the nation’s top agricultural research institute. Lee Seung-don, administrator of the Rural Development Administration (RDA) under the Ministry of Agriculture, Food and Rural Affairs, said on Thursday the agency’s official development assistance (ODA) projects for countries with poor self-reliant infrastructures and labor shortages will continue to expand. Lee said the agency’s multilateral Food and Agriculture Cooperation Initiative (FACI) will expand from three regional groups — Asia, Africa, and Central and South America — to five by 2028, adding the Caribbean and South Pacific. The expansion will bring the number of partner countries to around 100 across the five regions, with costs covered by the Korean government’s budget. Lee’s remarks come as the RDA is

President’s remarks pit Yongin against southern regions over $680 bil. chip cluster

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

President Lee Jae Myung’s comments on relocating a semiconductor cluster to southern regions at Wednesday’s press conference have drawn mixed reactions, as some politicians have interpreted his remarks as a clear sign that the government wants Samsung Electronics and SK hynix to move their factories from sites near the capital to southern parts of the country. While lawmakers representing southern regions welcomed his comments, the mayor of Yongin in Gyeonggi Province — the city where the cluster is located — criticized the president for adding uncertainty to the 1,000 trillion won ($680 billion) project. “Yongin residents had hoped the president would resolve the dispute, but his ambiguous stance will not calm the ongoing controversy over relocating the semiconductor industry,” Yongin Mayor Lee Sang-il, a member of the main opposition People Power Party, said in a radio interview Thursday. “Although the president said he cannot overturn decisions made under previous administrations, he still raised questions about the supply of electricity and water.” At the nationally

Korean Air to ban in-flight use of portable batteries

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

Korean Air and four other airlines under Hanjin Group will ban the in-flight use of portable batteries starting Monday, as part of its preemptive move to prevent fire accidents caused by lithium-ion power banks, the airline said Friday. Under the updated safety policy, passengers will not be allowed to use portable battery packs while on board any flight operated by not just Korean Air, but Asiana Airlines, Jin Air, Air Busan and Air Seoul. The power banks can be carried into the cabin, but their use and charging are strictly prohibited. Passengers also must cover metal charging ports with electrical tape or place each battery in a separate plastic bag or pouch to prevent possible short-circuiting. Starting next week, all batteries should also be kept in the seatback pocket or under the seat in front, never stored in the overhead bins, according to the new safety rule. “The ban on the in-flight use of power banks is a necessary measure to ensure the highest standards of flight safety, and passenger cooperation is essential,” a Korean Air official said. “Korea Air remains fully commi

Prime minister dismisses Coupang's accusation against Korean government

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

A Coupang investor and board member threatened Thursday to file an international lawsuit against Korea, alongside another U.S. investor. The move appears to be losing steam after the Korean government called the claims groundless and the company distanced itself from the dispute. The investors’ move has further fueled negative public sentiment toward Coupang, which is believed to have tried to exert indirect pressure on the government to halt investigations into alleged labor, financial, and tax violations, as well as a massive data breach last November affecting more than 33.7 million users. The prime minister’s office said Friday that the U.S. investors distorted remarks made by Prime Minister Kim Min-seok on Dec. 19, 2025. In a letter sent by Greenoaks Capital Partners and Altimeter Capital Management to President Lee Jae Myung via the U.S. law firm Covington & Burling, the investors claimed that Kim urged regulators to approach enforcement against Coupang for the data breach "with the same determination used to wipe out mafias" and "impose strong economic sanctions" without worr

CNCF award winner glad to contribute to Korea’s breakthrough in open-source cloud ecosystem

Tomas Kauer - International News Writer and Moderator — Fri, 23 Jan 2026 22:00:15 +0900

Electronics and Telecommunications Research Institute senior researcher and special fellow Son Seok-ho said he is glad to contribute to Korea’s breakthrough in the global open-source cloud ecosystem, Friday. He won the Cloud Native Computing Foundation (CNCF) Community Awards 2025, the highest honor in the cloud-native open-source world, becoming the first Korean to win the award. The award was presented during KubeCon and CloudNativeCon North America 2025, held in Atlanta, Ga., in November of last year. “I hope my contribution would bolster Korea’s open-source capabilities and leadership, strengthening the country’s technological sovereignty amid intensifying global artificial intelligence (AI) and cloud computing.” The awards are chosen from around 270,000 global contributors. Individuals who have made outstanding contributions across project development, documentation and community governance are selected. Son was honored in the Lorem Ipsum category, a renamed version of the previous top documentarian award, reflecting his continuous and meaningful contributions to multiple CN

HD Korea Shipbuilding wins 175.8 bln-won gas carrier order from Europe

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:06 +0900

SEOUL, Jan. 16 (Yonhap) -- HD Korea Shipbuilding & Offshore Engineering Co.,...

(LEAD) Injection of emergency funds essential to revive Homeplus: CEO

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:06 +0900

SEOUL, Jan. 16 (Yonhap) -- An injection of emergency operating funds would help ...

U.S. consumption could drop 1.7 pp if stocks plunge like dot-com bust: BOK

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:06 +0900

SEOUL, Jan. 16 (Yonhap) -- A sharp drop in U.S. stock prices similar to the coll...

Seoul shares trade well above 4,800 points late Fri. morning on tech rally

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:06 +0900

SEOUL, Jan. 16 (Yonhap) -- South Korean stocks continued to trade higher late Fr...

Gov't to expand tax incentives for vulnerable groups, strategic industries

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:06 +0900

SEOUL, Jan. 16 (Yonhap) -- The government will roll out a range of tax incentive...

(3rd LD) Seoul shares again close at record high, extending rally to 11th session; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:05 +0900

SEOUL, Jan. 16 (Yonhap) -- South Korean stocks ended at a fresh record high abov...

(2nd LD) Seoul shares again close at record high, extending rally to 11th session; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:05 +0900

SEOUL, Jan. 16 (Yonhap) -- South Korean stocks ended at a fresh record high abov...

(LEAD) Seoul shares again close at record high, extending rally to 11th session; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:05 +0900

SEOUL, Jan. 16 (Yonhap) -- South Korean stocks ended at a fresh record high abov...

Korean won slips again as 'Bessent effect' fades amid dollar strength, weak yen

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:05 +0900

SEOUL, Jan. 16 (Yonhap) -- The South Korean currency fell below the 1,470 won le...

Seoul shares again close at record high, extending rally to 11th session; won declines

Tomas Kauer - International News Writer and Moderator — Sat, 17 Jan 2026 22:00:05 +0900

SEOUL, Jan. 16 (Yonhap) -- South Korean stocks ended at a fresh record high abov...

Injection of emergency funds essential to revive Homeplus: CEO

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

An injection of emergency operating funds would help revive financially troubled discount store chain Homeplus, a company executive has said, dismissing any chance of liquidation. Homeplus submitted its rehabilitation plan to the Seoul Bankruptcy Court last month, with creditors raising no objections to the proposal. The program focuses on business reorganization and a merger and acquisition (M&A) process to find a new owner after court approval of the plan. It also includes measures to secure emergency operating funds worth 300 billion won ($205 million), shut down dozens of loss-making outlets, offload non-core business units and relocate workers. "There might be a crisis in one to two weeks from now as product volumes at Homeplus outlets have nearly halved compared to normal operating times. An urgent injection of emergency funds will help normalize the company's operations," Homeplus co-Chief Executive Officer (co-CEO) Joh Joo-yun told Yonhap News Agency in a recent interview. The court and creditors represented by Meritz Securities view a cash injection as a positive approach, she sa

High-end apartment brand marketing faces consequences

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

The recent boom in high-end brand marketing in Korea’s apartment construction market has come at a cost as an increasing number of landlords refuse to place orders with companies that reject their requests to use premium brand names such as “Acro,” “Le El,” “The H” and “Summit” for new residential complexes. After several disputes over naming rights led some landlords to switch contractors, construction firms now face a dilemma over whether they should keep their luxury brands exclusive or allow broader use. Earlier this month, landlords of Sangdaewon Redevelopment Zone 2 in Seongnam, Gyeonggi Province, began seeking a new construction firm to replace DL E&C after the company refused to name their new complex “Acro” instead of “e-Pyeonhansesang,” its midrange brand. DL E&C faced a similar issue in the past with landlords of Seoul’s Sindang Redevelopment Zone 8, who canceled their contract in 2023. They turned to POSCO E&C, which proposed using its high-end brand “Otier” instead of the mid-tier “The Sharp.” Likewise, landlords of Heukseok Redevelopment

Citibank Korea accelerates AI adoption in daily workflows, enhances employee productivity

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Citibank Korea said Friday that it has begun the full deployment of Citi AI, Citi’s newly introduced artificial intelligence platform, across the organization. As part of this initiative, the bank hosted Citi AI Days on Wednesday and Thursday, as employees shared practical examples of how Citi AI can be applied in their day-to-day work. Citi AI is a purpose-built platform designed based on a human-led AI approach, which supports and enhances employees’ professional expertise and decision-making. With safety and responsible use as its core principles, the platform helps employees perform their work in a more efficient and consistent manner. Through Citi AI, Citibank Korea expects to more effectively leverage the data and expertise accumulated across Citi’s global network, while reducing the burden of repetitive tasks such as data analysis and document preparation. This will enable employees to focus on higher-value activities. The bank plans to systematically embed AI across client support, talent development and overall business operations. In addition, the bank is operating the Ci

[PHOTO] Kakao founder reappears in public after acquittal

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Kim Beom-su, Kakao founder and head of its Future Initiative Center, visits the company's onboarding program for newly hired employees at its artificial intelligence campus in Yongin, Gyeonggi Province, Thursday. The founder made a public appearance for the first time after being acquitted of charges related to alleged stock price manipulation involving SM Entertainment in October last year. Courtesy of Kakao

Coupang voucher draws mixed response after rollout

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Coupang’s compensation vouchers for customers following a data breach that affected 33.7 million users went into effect on Thursday, drawing mixed reviews. The vouchers, which can be used across Coupang’s multiple shopping platforms, have pleased some customers with discount bargains. Others, however, have criticized the move as a sales tactic rather than proper compensation and said they would continue their boycott of the e-commerce giant. The voucher package, totaling 50,000 won ($34) per each customer, was distributed to Coupang's paid membership users, regular users and former customers who have closed their accounts. The package consists of 5,000 won in coupons for Coupang's e-commerce platform, 5,000 won for food delivery service Coupang Eats, 20,000 won for Coupang travel products and 20,000 won for R.LUX luxury beauty and fashion items. This invited criticism, because the two 20,000 won vouchers can only be used on its less popular platforms, with just 5,000 won offered for Coupang and Coupang Eats. Unlike initial criticisms, some reviews by shoppers who used the compensatio

KB Financial chairman in spotlight as first test of governance reform

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Tensions within the financial industry are mounting as authorities step up pressure by launching a corporate governance task force and signaling tough on-site inspections aimed at curbing the long-standing practice of financial holding company chairmen securing reappointments, industry sources said Friday. Market attention is particularly focused on KB Financial Group, where Chairman Yang Jong-hee’s term expires in November. While most financial holding companies wrapped up their leadership succession processes recently, KB was the exception, raising the possibility that it could become an early test case for the application of new governance guidelines once the authorities finalize their reform measures. The Financial Services Commission (FSC), the country’s top financial regulator, convened the inaugural meeting of its task force on financial group governance reform, bringing together officials from the Financial Supervisory Service (FSS) as well as experts from research institutions, academia and the legal community. The initiative followed President Lee Jae Myung’s criticism t

WBF, Moonsook foundation renew support for women in science

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

The Women’s Bioscience Forum (WBF) and the Moonsook Science Foundation have reaffirmed their partnership to support and foster outstanding women scientists through the Moonsook Saebyul Award. On Friday, the two organizations extended their memorandum of understanding (MOU) at the foundation's office in Seoul, confirming their commitment to jointly operate the award and maintain a broader framework of cooperation. The renewed agreement builds on the original MOU signed in 2024, which aims at strengthening support for women in the life sciences. Established in 2005, the award recognizes and encourages exceptional researchers in the domestic life sciences field, including doctoral students, research assistants with master’s degrees and postdoctoral researchers. Since its inception, 66 women have received the award. Since 2024, Moonsook has sponsored the program, granting 1 million won ($700) each to three doctoral researchers and 2 million won each to two postdoctoral researchers. Founded in 2001, WBF is a nonprofit organization dedicated to strengthening national competitiveness in li

Samsung close to supplying application processor for OpenAI’s new device

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Samsung Electronics is likely to supply its Exynos application processor for OpenAI’s new earbud-type artificial intelligence (AI) device, expanding the chipset’s reach beyond smartphones into the emerging AI-wearable device market while strengthening its partnership with the world’s leading AI firm. According to industry sources with knowledge on the matter, Friday, Samsung Electronics is “very close” to supplying its latest Exynos application processor built with its 2-nanometer-class process for OpenAI’s AI earbuds, known by its project name “Sweetpea.” The sources’ comments follow recent reports by tech news outlets that Samsung’s Exynos application processor is currently “most favored,” citing tech insider Smart Pikachu’s post on X (formerly Twitter) alleging that OpenAI’s debut hardware will be an earbud aimed at “replacing iPhone actions by commanding Siri.” Samsung Electronics declined to comment, saying it is a client-related matter, and OpenAI also declined to comment. However, the sources said the partnership between Samsung and OpenAI appears

Hanwha insurers invest combined $67.85 mil. in CHA Biotech

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Hanwha Group’s two insurance units committed a total of 100 billion won ($67.85 million) to invest in CHA Biotech, part of a strategic investment to find synergy between digital healthcare and insurance. According to CHA Biomedical Group, Friday, Hanwha General Insurance and Hanwha Life Insurance will participate in CHA Biotech’s third-party rights issuing, purchasing new shares of the biopharmaceutical firm worth 70 billion won and 30 billion won, respectively. Through the investment, the insurers seek to combine their insurance business infrastructure with CHA Biotech’s digital healthcare capabilities and explore new business opportunities. The companies said the investment will strengthen mid- to long-term cooperation by linking healthcare and financial services, while gradually expanding a life cycle-based value chain. The announcement came a day after IT service firm LG CNS decided to make a 10 billion won equity investment in CHA Biotech. CHA Biomedical Group said the investments will help stabilize its financial structure and generate broader synergies across the healthcare

Jipyeong Brewery expects record 2025 sales with steady popularity of makgeolli

Tomas Kauer - International News Writer and Moderator — Fri, 16 Jan 2026 22:00:13 +0900

Major Korean makgeolli maker Jipyeong Brewery said Friday it expects record sales in 2025, cementing its position in the country’s traditional fermented rice alcoholic beverage market. The company said it expects to extend its streak of record annual revenue to a 16th consecutive year, a run that began after it posted 200 million won ($135,740) in sales in 2010. The company noted that the financial result is meaningful as it came amid a protracted slowdown in Korean liquor industries. Jipyeong in 2024 posted 46.9 billion won in sales and 3.7 billion won in operating profit. Alongside its rising revenue, the company has maintained operating profit in the range of 3.6 billion won to 7 billion won over the past five years, indicating relatively stable profitability. Jipyeong said the consistent sales growth over 16 years proves the company did not rely on any popular hit product or trend. It said the performance rather was due to the firm’s structural competitiveness across ingredients, quality and logistics. It also attributed its steady growth to its expansion into overseas markets. J

Kia unveils EV2 compact SUV at Brussels Motor Show

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- Kia Corp. on Friday unveiled the EV2, its new compact ...

AMCHAM chief says S. Korea-U.S. business ties vital amid AI boom, geopolitics

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- Cooperation with South Korea is "vital" for U.S. busin...

(LEAD) Seoul shares hit another record high, just shy of 4,600

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- Seoul shares extended their rally to a sixth session F...

Seoul shares hit another record high, just shy of 4,600

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- Seoul shares extended their rally to a sixth session F...

Brokerages' Q4 earnings outlook upgraded amid market rally: data

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- Major securities firms in South Korea are projected to...

Homeplus submits rehabilitation plan; no objections from creditors

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- The financially troubled discount store chain Homeplus...

Over 150,000 KT users switch mobile carriers in 9 days after penalty waiver

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- More than 150,000 customers of KT Corp., South Korea's...

(LEAD) LG Energy Solution posts operating loss in Q4 amid EV market slump

Tomas Kauer - International News Writer and Moderator — Sat, 10 Jan 2026 22:00:04 +0900

SEOUL, Jan. 9 (Yonhap) -- LG Energy Solution Ltd. on Friday said it continued to...

[CES 2026] Concept cars eclipsed by AI hype at CES

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

LAS VEGAS — The global artificial intelligence (AI) frenzy has stolen the spotlight at the mobility zone at CES 2026, once dominated by concept cars and hardware that assists drivers. Fewer carmakers were seen promoting futuristic concept vehicles, apparently due to this rapid technological paradigm shift. Instead, they focused on showcasing their software-dedicated visions and strategies amid the rise of physical AI. Hyundai Motor Group has arguably drawn the most attention at this year’s mobility zone, but that was driven by the carmaker’s renewed AI strategy converging with robotics, rather than its technologies related to automobiles. The carmaker's auto hardware moved out of the spotlight as the company shifted its focus onto physical AI by showcasing a diverse lineup of AI-powered robots, such as the Atlas humanoid robot. This was not the case two years earlier, when Kia unveiled its much-hyped plan to tap into the industry of purpose-built vehicles (PBVs). PBVs feature interchangeable upper bodies, so vehicles can be transformed for multiple purposes by changing their top mo

Online platform law doesn't 'target' US tech firms, antitrust chief says

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

Fair Trade Commission (FTC) Chairman Ju Biung-ghi dismissed the U.S. Congress’ claim that Korea’s proposed online platform law “targets” major American tech firms. Reaffirming the antitrust watchdog’s commitment to regulating monopolistic online platforms, he also emphasized the need to impose heavier fines on Coupang and other dominant market players if they are found to have engaged in unfair business practices. Speaking at a dinner with reporters Thursday, Ju clarified that the proposed online platform law would serve as an ex-post regulation to correct unfair transactions involving online platform operators. Under the previous administration in 2024, Korea dropped its plan to predesignate dominant platforms, shifting its focus to regulating them after instances of misconduct. “Not only Coupang but also Naver and several other domestic platform operators will be subject to the law, which follows the principle of nondiscrimination against foreign companies,” Ju said. “It is not an ex-ante regulation that designates monopolistic operators or restricts their abuse of mar

[CES 2026] Hyundai Motor Group develops AI chips for robots

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

LAS VEGAS — Hyundai Motor Group has completed development of its long-awaited artificial intelligence (AI) chips for robots, marking a critical step toward building a robust supply chain and infrastructure in the era of physical AI, the company said Thursday (local time). The global automaker and emerging robotics powerhouse has teamed up with DEEPX for the joint development of the on-device AI chip for three years. DEEPX is an advanced AI chipmaker and computing solutions developer. The group’s Robotics LAB showcased the milestone at CES Foundry 2026, the tech fair’s first sub-program dedicated to discussions on AI, quantum computing and other cutting-edge future technologies. The on-device AI chips are also ready to be mass-produced, helping the automaker to build a stable supply chain for its overall robotics business. Hyundai Motor Group highlighted physical AI — the integration of hardware and artificial intelligence — as a key future revenue area during CES 2026. The automaker introduced several advanced robots, including Atlas and the multi-purpose self-driving Mobile Ec

LG Electronics estimates $75.2 mil. operating loss for 2025 Q4

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

LG Electronics posted a 109.4 billion won ($75.2 million) operating loss for the fourth quarter of last year, as United States tariffs, seasonal effects and one-off costs incurred by a companywide redundancy program overshadowed improvements in its auto parts business. The company on Friday released its earnings guidance for the fourth quarter of 2025, projecting sales of 23.85 trillion won and an operating loss of 109.4 billion won. Revenue increased 4.8 percent from a year earlier, but the company swung to an operating loss from an operating profit of 135.4 billion won in the fourth quarter of 2024. The estimated operating loss is far greater than brokerages’ consensus forecast of 8.4 billion won, showing that cost burdens weighed heavily on the company’s profitability. If the numbers are confirmed, LG Electronics will post a quarterly operating loss for the first time since the fourth quarter of 2016. On a yearly basis, LG Electronics estimated consolidated revenue of 89.2 trillion won, up 1.7 percent from a year earlier, while operating profit fell 27.5 percent to 2.48 trillion wo

LG Energy Solution reports operating loss in Q4

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

LG Energy Solution on Friday said it continued to remain in the red in the fourth quarter although its operating loss nearly halved from a year earlier amid weak global demand for electric vehicle (EV) batteries. Operating loss in the October-December period was estimated at 122 billion won ($83.8 million), compared with a loss of 225 billion won posted in the fourth quarter of 2024, the company said in a preliminary report. Sales decreased 4.8 percent to 6.14 trillion won. The data for net income was not available. The operating loss was 8.5 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. LG Energy Solution said it has received a tax credit of 332.8 billion won through the Advanced Manufacturing Production Credit (AMPC) under the U.S. Inflation Reduction Act. Excluding the AMPC, the company recorded an operating loss of 454.8 billion won in the fourth quarter, the company said. The company will release its final earnings report later. For all of 2025, operating profit came to 1.34 trillion won, up 133.9 percen

Coupang customers on alert over phishing attempts after data breach

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

Lee Won-son, a woman in her 40s and a long-time Coupang customer, said she could not sleep after hearing about a friend who was almost duped in what appeared to be a voice-phishing attempt linked to the e-commerce giant. “I keep replaying the story in my head,” she said. Lee she wondered what she would have done if she had been the one to pick up the phone. “The details were unsettling. It sounded so real,” Lee said. “They knew her name, her phone number, even mentioned her bank account. I suddenly realized how easily it could have been me.” She said her friend, also a Coupang customer, recently received a call from a man claiming to be a credit card delivery serviceman. He told the friend that he had a “Coupang account-related credit card” issued in her name and needed to deliver it to her home. When the friend said she had not applied for such a card, the caller said that her identity may have been stolen through Coupang, instructing her to call a customer service number beginning with 1544. When she dialed the number, a person claiming to be a customer service worker cite

Can robotics pull LG Electronics out of slump?

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

LG Electronics posted a quarterly operating loss for the first time in nearly 10 years, as its TV, home appliance and other existing flagship businesses faced limits in their growth. The company said the downturn is temporary as it seeks to regain momentum through new businesses. Multiple industry officials said LG’s future hinges on robotics, noting that it is more critical than ever for the company to clearly define not only its technology road map but also its broader strategy for expanding its robot business. The company on Friday released its earnings guidance for the fourth quarter of 2025, projecting sales of 23.85 trillion won ($16.35 billion) and an operating loss of 109.4 billion won. If the numbers are confirmed, LG Electronics will post a quarterly operating loss for the first time since the fourth quarter of 2016. Revenue increased 4.8 percent from a year earlier, but the company swung to an operating loss from an operating profit of 135.4 billion won in the fourth quarter of 2024. The estimated loss is far greater than brokerages’ consensus forecast of 8.4 billion won,

Canadian sub deal hinges on carmaker cooperation

Tomas Kauer - International News Writer and Moderator — Fri, 09 Jan 2026 22:00:12 +0900

Carmakers Hyundai Motor and Volkswagen have emerged as key players in the ongoing competition between Hanwha Ocean and TKMS to secure Canada’s order for 12 patrol submarines worth 60 billion Canadian dollars ($43 billion), which would be the largest single order in Korea’s defense export history if it were to win the bid. Amid Ottawa’s request for Korea and Germany to invest in Canada’s automotive industry in exchange for the massive submarine deal, market watchers are now focusing on whether Hyundai Motor will play its part in the project, which has already been elevated to a government-to-government initiative. According to sources familiar with the matter Friday, senior executives from Hyundai Motor and Hanwha Ocean will accompany presidential chief of staff Kang Hoon-sik and industry minister Kim Jung-kwan on their trip to Canada later this month to meet with Canadian Prime Minister Mark Carney and other top officials. Kang has served as Korea’s special envoy for strategic economic cooperation, tasked with visiting countries interested in purchasing Korean defense product

Over 30,000 KT users switch mobile carriers in 3 days after penalty waiver

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 3 (Yonhap) -- More than 30,000 customers of KT Corp., the country's ...

S. Korean biz leaders vow efforts to tackle market uncertainties in 2026

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- Leading business figures in South Korea pledged Friday...

(2nd LD) S. Korea's KOSPI surges over 2 pct to hit record high on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- South Korean stocks surged more than 2 percent Friday ...

(LEAD) S. Korea's KOSPI surges over 2 pct to hit record high on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- South Korean stocks surged more than 2 percent Friday ...

(LEAD) Celltrion completes acquisition of U.S. biopharmaceutical plant

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- Celltrion Inc., a major South Korean biopharmaceutical...

S. Korea's KOSPI surges over 2 pct to hit record high on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- South Korean stocks surged more than 2 percent Friday ...

(URGENT) S. Korea's KOSPI finishes at record high of 4,309.63 in 1st trading day of 2026 on chip rally

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

(END)

Dongwon Industries expresses 'interest' in acquiring shipper HMM

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- Dongwon Industries Co., the holding company of tuna-to...

Samsung Heavy wins 721.1 bln-won LNG ship order in Oceania

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- Samsung Heavy Industries Co. said Friday it has secure...

Hanwha Group chief calls for securing of future tech, shipbuilding cooperation with U.S.

Tomas Kauer - International News Writer and Moderator — Sat, 03 Jan 2026 22:00:06 +0900

SEOUL, Jan. 2 (Yonhap) -- Hanwha Group Chairman Kim Seung-youn on Friday called ...

Korean team develops AI model for 'customized' cancer vaccine

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

A joint research team of the Korea Advanced Institute of Science and Technology (KAIST) and domestic biotechnology firm Neogenlogic has developed a new artificial intelligence (AI) model that can help produce a whole new type of "personalized" cancer vaccine, the joint team said Friday. The new AI platform helps identify neoantigens unique to each cancer patient that can train the patient's immune system, and thus prevent recurrence of the illness. "Neoantigens -- mutation-derived protein fragments unique to a patient's tumor -- are the 'fingerprints' used by vaccines to train the immune system," the team, led by professor Choi Jung-kyoon of KAIST, said in a press release. "While current vaccines focus almost exclusively on activating cytotoxic T cells for immediate attack, emerging clinical evidence highlights that B cell-mediated immune memory is the key to durable, long-term antitumor responses and the prevention of recurrence," it added. Such findings were published in the Dec. 3 edition of Science Advances, a peer-reviewed scientific journal. According to the research team, its AI mo

Law protecting street vendors holds back retail giants as e-commerce booms

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

A 15-year-old Korean law designed to protect small, self-employed vendors in traditional street markets from large superstore chains, is now stifling offline distributors as they struggle to keep up with fast-growing e-commerce platforms, leading to growing calls to modernize the outdated law. Under the Distribution Industry Development Act, mandatory closures, limits on operating hours, and other regulations on big-box retailers were scheduled to expire automatically after a set date unless renewed in November last year, but the National Assembly pushed the expiration date back to 2029. Introduced in 2010 and extended in 2015, 2020 and again last year, the measure will now be in force for nearly 20 years. While some support the law for its original intent, others argue that it has undermined the competitiveness of major offline supermarkets like Emart and Homeplus, while simultaneously driving up consumer demand for online platforms such as Coupang. Experts say the restrictions on offline distributors should be eased to create a fairer market environment for both offline retailers and

Seoul shares rise over 1% late Friday morning on chip gains

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Korean stocks traded higher late Friday morning, led by sharp gains of large-cap semiconductor shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 46.38 points, or 1.1 percent, to 4,260.55 as of 11:20 a.m. The index opened higher in the first trading session of 2026 and extended gains further on solid buying by retail investors. Top-cap shares traded mixed. Market bellwether Samsung Electronics soared 3.67 percent, while chip giant SK hynix surged 2.3 percent. Defense giant Hanwha Aerospace advanced 1.81 percent, and nuclear power plant builder Doosan Enerbility increased 0.4 percent. But leading battery maker LG Energy Solution slid 1.83 percent, and major chemical firm LG Chem sank 2.25 percent. Bio giant Samsung Biologics edged down 0.18 percent, but Celltrion spiked 12.43 percent. Leading shipbuilder HD Hyundai Heavy remained unchanged, while its rival Hanwha Ocean lost 0.44 percent. Carmakers traded mixed. Top automaker Hyundai Motor went up 0.67 percent, while its sister affiliate Kia fell 0.57 percent. Internet portal operator Naver went up 0.82 percent, but No. 1 stee

Online shopping sales hit record $16.75 bil. in November on food services

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Online shopping sales in Korea jumped 6.8 percent from a year earlier to a record high in November, driven by strong demand for food-related services, data showed Friday. The value of online shopping transactions stood at 24.15 trillion won ($16.75 billion) in November, up 1.53 trillion won from a year earlier, according to the data from the Ministry of Data and Statistics. It marks the highest figure since 2017, when the ministry began compiling the data. Sales of food services, as well as food and beverages, climbed 13.7 percent on-year in November, largely due to the impact of promotions by food delivery platforms. Spending on travel and transportation services also rose 8.5 percent on-year, supported by a recovery in domestic and overseas travel demand and promotional events in the second half of the year. In contrast, online sales of home appliances and electronics fell 4.9 percent, largely due to a decrease in promotional events offered by online shopping malls compared with a year earlier. Purchases made through smartphones, tablets and other mobile devices increased 7.9 percent on-

Bain Capital to acquire parent company of athleisure brand Andar

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Bain Capital LP said Friday it plans to acquire EcoMarketing, the parent company of local athleisure brand Andar. The Boston-based private equity fund said it plans to purchase a stake of around 44 percent in EcoMarketing through a special purpose company (SPC), while the remaining amount will be acquired through a tender offer at 16,000 won ($11) per share. EcoMarketing holds a 57 percent stake in Andar, a popular gym wear brand, of which products are sold in countries that include Japan, Australia and Singapore. Andar has recently launched a new athleisure brand in the United States.

Naver, Kakao gear up for agentic AI era in 2026

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

After spending last year overhauling their artificial intelligence (AI) business, Korea's two internet giants, Naver and Kakao, are now accelerating their push toward redefining their flagship search and messaging services through agentic AI. Both companies spent 2025 strengthening the application of their AI technologies, embedding large language models (LLMs) across their ecosystems to improve user engagement in their existing services. Building on these foundations, they are now positioning their AI systems to operate proactively as agentic AI, which can understand user intent, plan actions by itself and execute tasks without direct prompts from users. In November, Naver unveiled Agent N, a personalized and integrated AI agent, as its core AI strategy to leverage the company’s vast data and translate it into real actions within Naver services. It is designed to seamlessly connect Naver’s services from search and maps to calendar, reservations and content. “Users will no longer need to worry about which words to type for search. Instead, simply by conversing with Agent N, the AI

Korea's top financial groups pledge overhaul as AI, productive finance take center stage in 2026

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Korea’s four major financial holding companies — KB Kookmin, Shinhan, Hana and Woori — will treat the accelerating shift in technology and financial paradigms as both a challenge and an opportunity in 2026, pledging to revamp business models around productive finance while expanding into new growth areas, their chairmen said in New Year’s messages Friday. The leaders shared a focus on accelerating artificial intelligence (AI) and digital transformation; strengthening risk management and advisory-based businesses amid rapid asset shifts; and maximizing synergies across banking, securities and insurance. They also identified emerging fields such as digital assets and won-based stablecoins as key areas for securing sustainable competitiveness. KB Financial Group Chairman Yang Jong-hee outlined “transition and expansion” as the guiding principle of the group’s management strategy for 2026. “KB should safeguard its existing strengths and foundations while reshaping its business approach to adapt to a changing environment and broadening its reach to customer segments and marke

Samsung Heavy wins $499 mil. LNG ship order in Oceania

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Samsung Heavy Industries said Friday it has secured a 721.1 billion-won ($499 million) deal to build two liquefied natural gas (LNG) ships for a shipper in Oceania. The two vessels are scheduled to be delivered to the undisclosed client by September 2028, the company said in a press release. With the deal secured Wednesday, the shipbuilder said it received orders worth $7.9 billion in 2025, exceeding the previous year's total of $7.3 billion. As of the end of 2025, Samsung Heavy had an order backlog of 133 ships valued at $28.6 billion. "We exceeded expectations last year by focusing on winning orders for high value-added vessels," a company official said. "We expect a steady flow of orders amid recovering demand for LNG carriers throughout the year."

Questions raised over TCL’s RGB mini LED TV marketing

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Controversy has emerged over alleged false advertising involving a budget red, green and blue (RGB) mini LED TV released by Chinese TV manufacturer TCL. According to a report Thursday by market research firm Omdia, TCL’s budget RGB mini LED TV uses two blue chips and one green chip, but lacks a dedicated red chip. RGB TVs are designed to independently control red, green and blue backlights, a method widely regarded as enabling superior color reproduction and higher brightness compared with conventional white LED-based TVs. Omdia analyzed TCL’s budget model, the Q9M, saying it uses a combination of blue and green chips with red phosphors, rather than pure RGB chips, to lower production costs. Red chips are far more expensive than blue or green chips, prompting TCL to standardize the use of cheaper blue and green chips and rely on red-emitting phosphors to produce red light. Despite lacking a dedicated red chip, TCL continues to market the TV as an RGB mini LED model. “Even RGB mini LED TVs using pure RGB chips made by Chinese manufacturers have already drawn criticism over picture qua

Celltrion completes acquisition of US biopharmaceutical plant

Tomas Kauer - International News Writer and Moderator — Fri, 02 Jan 2026 22:00:15 +0900

Celltrion Inc., a major Korean biopharmaceutical company, has completed the acquisition of a biopharmaceutical manufacturing plant in the United States, the company said Friday, paving the way for local contract manufacturing deals under tariff-free conditions. Celltrion USA Inc., the company's U.S. unit, finalized the deal to acquire the 460 billion-won ($317 million) facility in New Jersey from U.S. drugmaker Eli Lilly and Company (LLY), the company said in a press release. Following the acquisition, Celltrion has signed a contract manufacturing organization (CMO) agreement worth 678.7 billion won to produce biopharmaceutical products for Eli Lilly for three years through 2029, it added. "The U.S. acquisition was aimed at proactively responding to rapidly changing biopharmaceutical markets. The company plans to expand the facility to secure additional global CMO contracts," a company official said. On Wednesday, Celltrion projected its annual operating profit would exceed 1 trillion won for the first time this year, driven by strong sales of high-margin biosimilar products. In his New Y

(LEAD) S. Korea reports new bird flu cases at poultry farms, total now at 24

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 27 (Yonhap) -- South Korea has confirmed two additional cases of hig...

S. Korea reports another bird flu case at poultry farm in central region

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 27 (Yonhap) -- South Korea has reported a new case of highly pathoge...

Shinsegae affiliate reports leak of personal data involving some 80,000 employees

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- Shinsegae I&C Inc., the information technology (I...

LG Energy Solution says 3.9 tln-won battery deal with U.S. firm canceled

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- South Korean battery maker LG Energy Solution Ltd. sa...

Coupang says probe into former employee conducted in close cooperation with gov't

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- E-commerce giant Coupang Inc. said Friday the investi...

(LEAD) Seoul stocks end higher on chip rally; won sharply up

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- South Korean stocks ended higher Friday, driven by sh...

Seoul stocks end higher on chip rally; won sharply up

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- South Korean stocks ended higher Friday, driven by sh...

Korean won jumps to near 2-month high on pension fund's strategic hedging

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- The South Korean won rose to its highest level in nea...

Cyber intrusion crimes double in 10 yrs: data

Tomas Kauer - International News Writer and Moderator — Sat, 27 Dec 2025 22:00:05 +0900

SEOUL, Dec. 26 (Yonhap) -- The number of cyber intrusion crimes, including hacki...

Sharp won gain triggers $100 bill sellout at bank branch

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:13 +0900

A bank branch reported that $100 bills had sold out, with some investors buying them on expectations of a reversal in the recent sharp appreciation of the Korean won against the U.S. dollar, market watchers said Friday. Some say the incident is indicative of lingering skepticism over whether the foreign exchange (FX) authorities can stabilize the currency. It comes amid a lack of measures to fundamentally tackle structural issues dragging down the value of the Korean currency in the context of the receding power of the global reserve currency. According to a Hana Bank branch in Gangnam, southern Seoul, it ran out of $100 bills late Wednesday. The news made headlines after it posted a notice informing customers that U.S. currency was unavailable. The lender said the shortage was due to timing issues, adding that requests for additional dollar bills from headquarters had not been made in time. However, the episode fanned expectations among retail investors that strong demand for dollars would continue, with many of them seeking to buy the U.S. currency during what they consider a short-live

Foreign carmakers seek sales growth through expanded service networks

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Foreign carmakers are rapidly expanding their showrooms and service centers in Korea, as part of efforts to drive sales growth in more regions nationwide. Audi Korea, which achieved a major sales rebound this year, hopes to extend its winning streak next year by opening new service facilities for its customers. Last week, the carmaker opened its premium exhibition hall on the nation’s southern island of Jeju. The facility, which spans 280.5 square meters, is designed to boost its exchanges with customers by displaying new Audi models. Earlier this month, the carmaker also opened a showroom in Paju, Gyeonggi Province, to absorb demand from customers in the nation’s northwestern region just outside the capital area. The facility boasts a land area of 276.9 square meters. Of particular note there is Audi Korea’s three-dimensional digital system, which allows customers to virtually experience diverse vehicle colors and options more vividly. BYD Korea is one of the nation’s fastest-growing imported carmakers in terms of service facility expansion. After the Chinese electric vehicle (E

Alliances, policy, memory supercycle define Korea’s AI push in 2025

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Korea’s artificial intelligence (AI) push met a decisive moment in 2025 as global alliances, national policy and hardware demand aligned to create noteworthy momentum. Nvidia and OpenAI deepened cooperation with Korea, unveiling plans for large-scale AI infrastructure backed by the government and local conglomerates. At the same time, the government elevated sovereign AI to a core national strategy by sharply increasing budgets, and the National Assembly passed a comprehensive AI framework law set to take effect next year, making Korea the first country to implement such policies. Companies have moved beyond developing language models to expand real-world applications of AI, while the hardware sector is enjoying a memory supercycle driven by surging data center demand. The boom has created supply bottlenecks not only in AI-specific high-bandwidth memory (HBM) but also in conventional memory semiconductors. Deepening ties with global AI giants Nvidia is positioned at the center of Korea’s efforts to secure sufficient AI accelerators. In October, Nvidia CEO Jensen Huang visited Korea f

Police analyze suspect's laptop in Coupang data leak probe

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Police investigating the massive data leak at e-commerce giant Coupang are now intensifying their efforts to analyze a suspect's laptop submitted by the company earlier this week, police officials said Friday. The Seoul Metropolitan Police Agency's cyber investigation department is currently conducting a forensic examination of the contents of the laptop that Coupang voluntarily presented Sunday. The police are trying to verify whether the laptop was actually used by the suspect, whether it was used in the crime and whether there was any data tampering in the voluntary submission process. Coupang said Thursday it has identified a former employee as the suspect behind the data leak by using forensic evidence, adding that the individual confessed and provided a detailed account of how customer information was accessed. The company also said it has recovered all leaked personal information involving approximately 3,000 customers, and no data has been transferred to anyone outside the company. The police are reportedly reviewing whether there are any legal issues involving the company as it s

SPC bakery brand opens 24-hour outlets with unmanned system

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

SPC Group, a major South Korean food and beverage company, said Friday its bakery brand Paris Baguette has opened 24-hour hybrid stores equipped with an unmanned operating system, marking the first such move in the local bakery industry. Paris Baguette's two hybrid outlets in Seoul operate with on-site staff during daytime hours and switch to an unmanned system late at night and in the early morning, enabling sales without time restrictions, SPC said in a press release. As is the case with unmanned convenience stores and side-dish outlets, customers can enter the store during unmanned hours through a credit card authentication process and make purchases by scanning product barcodes at kiosks. "Starting in 2026, we will steadily adopt the hybrid store model nationwide, focusing on urban areas with high late-night foot traffic," a company official said. Since 2004, SPC has expanded the Paris Baguette brand to 15 countries. The number of its overseas outlets has recently surpassed 700, while domestic stores total about 3,400. The group currently operates industrial bakeries in China and Mala

Coupang’s internal probe into data breach draws renewed bipartisan backlash

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Coupang has provoked renewed backlash from policymakers and consumers here through its unilateral announcement Thursday of findings from its internal investigation into last month’s data breach, which affected at least 33.7 million users. Industry analysts have warned that the company could lose market share to rivals that have adopted its growth strategies if it maintains its uncooperative stance, a move seen as aimed at shielding founder Kim Bom-suk, also known as Bom Kim, from government scrutiny. On Friday, lawmakers from both ruling and opposition parties slammed Coupang’s announcement as arrogant, calling the disclosure an unverifiable underestimation of the cybersecurity incident’s impact. The criticism followed the National Assembly’s condemnation of Kim’s refusal to testify at parliamentary hearings. Coupang said in a press release that it had identified the former employee responsible for the leak, retrieved all devices used in the breach and confirmed that the perpetrator had retained data from only 3,000 user accounts before deleting it. The company abruptly releas

Korea targets sanitary pad makers over pricing practices

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Korea is initiating a regulatory push against major sanitary pad makers amid concerns over a possible oligopoly. They are suspected of engaging in unfair price-fixing practices by abusing their dominant market position. The Fair Trade Commission (FTC) is also investigating whether the companies set excessively high prices for their products. The FTC investigation follows President Lee Jae Myung’s order issued during a policy briefing by the antitrust authority last week, when he took issue with the “relatively expensive” prices of sanitary pads in Korea compared with those in other countries. According to a 2023 report published by the Korean Women’s Environmental Network, the average sanitary pad price in Korea was about 40 percent higher than their overseas counterparts. The organization compared the prices of 510 sanitary pad products from Korea with 69 others from 11 major developed countries, including the United States and Japan. Korean consumers largely echoed this sentiment, as many rely on products from the top three makers — Yuhan-Kimberly, LG Unicharm and Kleannara

Domestic, foreign banks tap into wealth management to drive revenue diversification

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Domestic and foreign lenders are intensifying their push into wealth management to secure new long-term growth drivers beyond traditional interest income, seeking to target high net worth older adults with senior-focused services and digital advisory platforms, market watchers said Friday. The competition is underpinned by demographic and income trends. According to KB Financial Group’s latest wealth report, the number of individuals with over 1 billion won ($694,000) in financial assets rose to 476,000 in 2025, up from 354,000 in 2020. Those with more than 30 billion won in financial assets recorded the fastest growth, increasing at an average rate of 12.9 percent each year. The collective move also comes as net interest margins face pressure from regulation, competition and rate volatility. Wealth management and trust services are emerging as a key source of sustainable growth. Hana Bank runs Club1, a flagship wealth management hub jointly operated with securities firms. It has steadily expanded its premium products to 207 private banking centers nationwide, staffed by 827 wealth ma

Huawei targets Korea's AI infrastructure market with Ascend 950 chip

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Huawei hopes to launch its latest artificial intelligence (AI) chip in Korea next year as it makes a full-scale push into the local AI infrastructure market, aiming to position itself as an alternative to Nvidia. Balian Wang, CEO of Huawei Korea, said at a press conference in Seoul on Friday that the company plans to roll out AI computing cards and AI data center solutions in Korea next year. He added that Huawei hopes to introduce the Ascend 950, its latest AI processor, which is slated for production starting next year. Unlike Nvidia, Huawei does not plan to sell the chip on a standalone basis, Wang said, noting that the company intends to supply the Ascend 950 in cluster configurations. He added that Huawei’s strategy goes beyond simply providing AI cards or servers, focusing instead on accelerating the industrial adoption of AI. To that end, Huawei plans to strengthen its competitiveness by offering end-to-end solutions that integrate infrastructure hardware, including networking and storage, with software. Wang added that under this model, partners for supply and sales may not be

Korea Aerospace signs deal to upgrade Philippines' FA-50PH fighter jets

Tomas Kauer - International News Writer and Moderator — Fri, 26 Dec 2025 22:00:12 +0900

Korea Aerospace Industries (KAI), a Korean aircraft manufacturer, said Friday it has signed a deal with the Philippine defense ministry to upgrade the performance of its FA-50 fighter jets operated by the Philippine Air Force. The company said it will carry out a 93 billion-won ($64 million) performance upgrade program for 11 FA-50PH light attack aircraft through 2029. A total of 12 FA-50PH aircraft were delivered to the Philippine Air Force between 2015 and 2017 but one aircraft was lost in a training accident. Under the program, the FA-50PH fleet will gain enhanced precision-guided munitions capability, extended operational range and improved endurance for sustained missions. The upgrades will also strengthen network-based interoperability, enabling more effective joint military operations, the company said. "We will continue to expand KAI's presence in the global defense market through customized performance upgrades and systematic follow-on support programs," a company official said. The FA-50PH light attack aircraft shares its platform with the T-50 advanced trainer, which can turn i

Faker shares thoughts about video game industry in talks with PM

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 20 (Yonhap) -- Prime Minister Kim Min-seok met e-sports star Faker t...

S. Korean startup again delays 1st commercial orbit launch

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 20 (Yonhap) -- South Korean space startup Innospace Co. said Saturda...

Hanwha Ocean wins 2.59 tln-won order for 7 LNG carriers from Europe

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- Hanwha Ocean Co. said Friday it has secured an order ...

Nuclear safety watchdog delays Saeul-3 reactor operation approval

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- South Korea's nuclear watchdog on Friday decided to c...

HD Korea Shipbuilding wins 689.6 bln-won container ship order from Oceania

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- HD Korea Shipbuilding & Offshore Engineering Co. ...

Hanwha Engine to acquire Norwegian maritime firm Seam for 290 bln won

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- Hanwha Engine Co. said Friday it will acquire Seam AS...

(LEAD) Seoul shares close higher on eased AI bubble woes

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- Seoul shares closed higher Friday as investors regain...

Seoul shares close higher on eased AI bubble woes

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- Seoul shares closed higher Friday as investors regain...

(LEAD) S. Korea to funnel public growth fund into AI, semiconductor, battery sectors: financial regulator

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- The newly launched mega-sized Public Growth Fund will...

S. Korea to funnel public growth fund into AI, semiconductor, battery sectors: financial regulator

Tomas Kauer - International News Writer and Moderator — Sat, 20 Dec 2025 22:00:06 +0900

SEOUL, Dec. 19 (Yonhap) -- The newly launched mega-sized Public Growth Fund will...

Red ginseng discovered to bolster immunity against flu

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Eating red ginseng helps bolster immunity against influenza, according to a professor from the Ulsan National Institute of Science and Technology (UNIST), Thursday. The discovery by Lee Sang-joon of UNIST's biological sciences division has added credibility to claims of health benefits from supplements made of red ginseng. Jung Kwan Jang, a nutritional product brand under Korea Ginseng Corp., is the country’s largest retail distributor and researcher of natural extracts from the plant. Jung Kwan Jang said the breakthrough came as the number of flu infections nationwide this year has increased dramatically. The infection rate is 14 times higher than last year, according to the firm. Numerous medical studies support red ginseng’s positive effects on human health, including boosting immunity and limiting virus growth, but this is the first time the root's effects regarding flu have been scientifically proven, according to the company. Lee’s discovery highlighted red ginseng’s role in activating antiviral pathways controlled by Z-DNA-binding protein 1 (ZBP1), an intracellular protein

Samsung Electronics unveils details of new Exynos chipset for Galaxy S26

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Samsung Electronics on Friday unveiled details of the new Exynos 2600 application processor (AP), widely expected to power the upcoming flagship Galaxy S26 smartphone. The Korean tech giant said in its website post that the Exynos 2600, boasting the industry's first 2-nanometer gate-all-around (GAA) production technology, is currently under "mass production" status. APs, often described as the brains of mobile devices, handle the core computing tasks that run operating systems and applications. "The Exynos 2600 delivers enhanced AI and gaming experiences by integrating powerful CPU, NPU and GPU into a single compact chip," the company said on the website. Compared with its predecessor, the Exynos 2500, the new AP boasts up to 39 percent improved CPU capability and 113 percent higher generative AI performance, according to Samsung. "Thanks to these improvements, you can perform more on-device AI tasks, such as intelligent image editing and AI assistant functions, quicker and more efficiently," the company added. Samsung Electronics plans to hold a launch ceremony for the Galaxy S26 smartpho

Eximbank backs Guam solar project with $241 mil. in financing

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

The Export-Import Bank of Korea (Eximbank) said Friday that it will provide $241 million in financing for a large-scale solar power project in Guam led by Korean companies, in a bid to expand the nation’s renewable energy investments abroad. The financing will support the Yona solar power project, awarded to a consortium of Korea Electric Power Corp., Korea East-West Power and Samsung C&T, the bank said. The package consists of $150 million in project finance loans and $91 million in equity bridge loans, tailored to support Korean companies’ overseas expansion. The project involves the construction and operation of a 132-megawatt solar power plant and a battery energy storage system with a capacity of 325 megawatt-hours in the Yona area of Guam. Around 200,000 solar panels will be installed across a 2.5 million-square-meter site, roughly equivalent to 360 soccer fields. Once completed, the project will increase the total power generation capacity in Guam by South Korean firms to 390 megawatts, accounting for about 55 percent of the island’s total generation capacity of 708 megawat

Hyundai Motor faces autonomous driving dilemma

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Hyundai Motor Group is facing a dilemma over its deadlocked autonomous driving business, as the carmaker struggles to find a qualified executive to lead the carmaker’s advanced vehicle platform (AVP) division even after its year-end reshuffle of top management. The automaker completed Thursday the reshuffle of its presidential-level management, but failed to name a successor to former AVP chief Song Chang-hyun. Song resigned from the post on Dec. 5, taking responsibility for the carmaker’s weak progress in the self-driving business. The leadership vacuum has meant delays in planning at a critical time, as both Tesla and Chinese carmakers continue to offer autonomous driving as part of their electric vehicle (EV) sales approaches. The strategic importance of in-vehicle software, which powers advanced self-driving, continues to grow, and was part of the reason for the latest top management reshuffle from the Korean carmaker. Hyundai Motor Group underscored the strategic importance of software-defined vehicles (SDVs) as a keyword, and two out of the carmaker's four newly-promoted preside

Musinsa spurs beauty business with Wizzy

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Major fashion shopping platform Musinsa is bolstering a beauty business under its private brand Wizzy, having exported the brand's cosmetic products to a major offline retail distributor in Japan. Don Quijote has imported Wizzy's lineup to its 300 stores across Japan, which are particularly popular among younger consumers and tourists. The expansion follows a successful debut in October at Shibuya Mega Don Quijote, the company's flagship store in Tokyo. The global expansion follows Wizzy’s growth in domestic markets this year, targeting consumers aged 17 to 21 . Following its launch in February, the brand’s sales during September to November jumped 120 percent from that during June to August. Musinsa signed a supply deal with GS Retail earlier this year and began distributing Wizzy to GS25 convenience stores starting in the first half of the year. Wizzy's domestic distribution expanded to Musinsa Megastore Yongsan in November, which opened inside I'Park Mall Yongsan in Seoul the same month. With Wizzy, Musinsa seeks to become an alternative to the country’s dominant offline beauty d

Kakao open-sources Kanana-2 model optimized for agentic AI

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Kakao has released Kanana-2, its most advanced in-house large language model (LLM) featuring enhanced performance and better efficiency, as open source and optimized for agentic artificial intelligence (AI) systems. The company announced that it has open-sourced three new models: Base, Instruct and Thinking. The Instruct model is characterized by an improved ability to comply with instructions through post-training. The Thinking model specializes in reasoning. This marks the first time that Kakao has open-sourced its reasoning model while also giving full public access to model weights for developers who wish to fine-tune them with their own datasets. Since unveiling its proprietary Kanana lineup last year, the company has steadily expanded its open-source offerings from lightweight models to Kanana-1.5, which was built for complex problem solving. Kanana-2 represents the company’s latest leap forward in research, delivering major improvements in performance and efficiency with an emphasis on building AI that can understand user intent and act proactively. “Innovative AI services ulti

Petrochemical firms accelerate last-minute efforts for self-rescue measures

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Petrochemical companies are accelerating last-minute efforts to submit self-rescue plans in line with the government's advised deadline Friday. They are considering initiating a series of intensive restructuring programs, such as asset sales and the establishment of joint ventures between interested firms, in their desperate efforts to tackle the global oversupply of petrochemicals. The Ministry of Trade, Industry and Energy pushed up the effective timeline to Friday, urging major petrochemical firms here to submit tight self-rescue plans before the authority provides financial support to them. The ministry and 10 leading petrochemical firms have agreed to cut total domestic ethylene production by about 2.7 million to 3.7 million tons a year. Companies that miss the timetable risk being excluded from future financial and policy support, adding urgency to the current round of negotiations. In the Yeosu and Daesan industrial complexes, companies finalized their proposals just hours before the cutoff, signaling progress on critical capacity cuts. In Yeosu, Yeochun NCC and Lotte Chemical agre

President orders FTC to drastically increase workforce

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

President Lee Jae Myung on Friday ordered the antitrust watchdog to “drastically increase” its workforce so that the authority can better regulate market-disturbing companies with stricter fines and penalties. In a policy briefing by the Fair Trade Commission (FTC), Lee urged the watchdog to increase its workforce by around 500 people and impose harsher fines on firms that engage in any unfair internal transactions or other undue business practices. The FTC had previously decided to increase its workforce by 167 positions in 2026. “The basic task of the FTC is to block the economically weak from suffering any unfair damage,” Lee said during the briefing. He also conveyed his stern regulatory stance against large firms that prevent their subcontractors from securing supply deals with other companies. “The watchdog should protect the weak, and never provide any unfair favor to the strong,” Lee said. He went on to step up rhetoric critical of large firms, saying that “imposing huge fines with a large workforce” will be very effective in cutting any unfair lobbying acts from c

Hanwha Engine to acquire Norwegian maritime firm Seam for W290 bil.

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:13 +0900

Hanwha Engine said Friday it will acquire Seam AS, a Norwegian shipboard electric propulsion systems maker, becoming the first South Korean company to enter the maritime technology market in Northern Europe. The marine engine producer under Hanwha Group has agreed to acquire the entire stake in the Norwegian firm for around 290 billion won ($196.6 million), the company said. Based in Avaldsnes, Seam is a leading developer of zero-emission maritime solutions, such as control software and energy storage systems for ships. Norway is considered one of the most active adopters of electric propulsion ships, and Seam holds around a 40 percent share in Norway's maritime market. Hanwha Engine said it plans to expand the scope of maritime propulsion solutions provided by the company through the acquisition and prepare for growing demand for eco-friendly vessels.

Korea to begin nuclear fusion power generation tests in 2030s: science ministry

Tomas Kauer - International News Writer and Moderator — Fri, 19 Dec 2025 22:00:12 +0900

Korea seeks to begin staging nuclear fusion power generation tests in 2030 at the earliest, nearly 20 years ahead of its original schedule, the government announced Friday, amid growing energy demand stemming from an artificial intelligence (AI) boom. The National Fusion Energy Committee announced the blueprint outlining the direction of its research in the sector, along with goals to secure eight related critical technologies, according to the Ministry of Science and ICT. Nuclear fusion power is considered a promising option for generating cleaner and safer energy, as it does not produce any carbon emission while also generating less radioactive waste than nuclear fission. "Nuclear fusion technology is a key area that will lead Korea's innovation-driven growth," Science Minister Bae Kyung-hoon said in a release. "We will make efforts to conduct nuclear fusion power generation tests in the 2030s, in order to address rising electricity demand in the AI era and take the lead in the future energy industry," Bae added.

Gov't to legislate new special law to tighten construction safety rules

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:07 +0900

SEOUL, Dec. 12 (Yonhap) -- The government plans to introduce a special law to st...

(Yonhap Interview) JP Morgan strategist dismisses AI bubble fears, expresses confidence in KOSPI

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:07 +0900

SEOUL, Dec. 12 (Yonhap) -- South Korean companies, especially those within the g...

Nexon subsidiary's new shooter game ARC Raiders wins award at The Game Awards

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:07 +0900

SEOUL, Dec. 12 (Yonhap) -- ARC Raiders, a new shooter game developed by Embark S...

(LEAD) Samsung Electronics launches Galaxy Z TriFold in S. Korea

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- Samsung Electronics Co. on Friday launched the Galaxy...

(LEAD) Seoul shares snap 3-day fall on AI confidence

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- Seoul shares closed higher Friday to end their three ...

Applicants for class-action lawsuit against Coupang in U.S. exceed 2,300

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- The number of people who have expressed their intenti...

S. Korea, China discuss follow-up steps to summit, seek enhanced trade cooperation

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- Industry Minister Kim Jung-kwan met with his Chinese ...

Seoul shares snap 3-day fall on AI confidence

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- Seoul shares closed higher Friday to end their three ...

Google Korea names ex-Samsung, Apple Korea executive as new chief

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- Google Korea said Friday it has appointed Yoon Koo, a...

Gov't to expand overseas infrastructure funds to boost developers' global competitiveness

Tomas Kauer - International News Writer and Moderator — Fri, 12 Dec 2025 22:00:06 +0900

SEOUL, Dec. 12 (Yonhap) -- The government plans to increase state-backed oversea...