Lotte Wellfood ups Choco Pie India sales target to $60 mn with new factory

Lotte Wellfood Co., formerly Lotte Confectionery Co., has revised up this year’s Choco Pie sales forecast in India to 80 billion won ($60 mill...

Gluten-free Korean snack, pea soy sauce lure European gourmets

COLOGNE, Germany – The traditional Korean snack yakgwa and a soy-like sauce made with peas were named innovative foods of the year at the worl...

KakaoBank to acquire 10% stake in Super Bank Indonesia

South Korea's KakaoBank Corp. announced on Tuesday its decision to invest in Indonesia's digital banking entity PT Super Bank Indonesia.This move ...

SK Plasma gets investment from Indonesian fund

South Korea’s SK Plasma on Tuesday said it signed a term sheet, or a nonbinding agreement on the basic terms and conditions of an investment, ...

Lotte Chemical sells JV stakes in China, eyes other profitable markets

South Korea’s Lotte Chemical Corp. has sold its entire stakes in joint ventures with Chinese partners as the Korean company faces a supply glu...

Hyundai to hike Exter SUV output to capitalize on void in India

Hyundai Motor Co. plans to ramp up the production of its compact sport utility vehicle Exter in India to capitalize on the void in the entry-level S...

Samsung to develop Galaxy Fold, Flip-customized games

Samsung Electronics Co., the world’s top smartphone maker by volume, is developing mobile games customized to its Galaxy Fold and Flip series ...

Apple, Google may face $50.4 mn fine over in-app billing in Korea

Apple Inc. and Alphabet Inc.’s Google may be fined up to 68 billion won ($50.4 million) in South Korea for breaking the country’s in-app...

KAI participates in International Astronautical Congress 2023

Korea Aerospace Industries Ltd. (KAI), South Korea's sole military aircraft manufacturer, participated in the 74th International Astronautical Congr...

Hyundai Kona Hybrid beats Toyota in German test

Hyundai Motor Co. announced on Friday that its crossover SUV, the Kona Hybrid, received higher scores than the Toyota Corolla Cross Hybrid in a vehi...

Microsoft ties up with Korean startup Wrtn on AI solutions

Microsoft Corp. and a South Korean artificial intelligence portal startup Wrtn Technologies Inc. joined hands for the generative AI service based on...

Tesla Model Y reclaims spot as Koreans' favorite foreign car in September

The Tesla Model Y reclaimed the top spot on the best-selling imported car list in South Korea last month for the first time since September 2022. Th...

Hyundai Motor, Kia to adopt Tesla’s charging standard for EVs

Hyundai Motor Co. and Kia Corp. have joined Tesla's Supercharger network for electric vehicles (EV).The North American branches of the two South Kor...

Korean bond market squeezed by maturing debt, new issues

South Korea’s corporate bond market is saddled with a massive amount of debt due later this year and a surge in banks' new bond issues, amid h...

BMW premieres new 5 Series in Korea, the model’s top market

German carmaker BMW Group on Thursday premiered its latest 5 Series premium sedan in South Korea, an indication of the growing importance of the Asi...

S.Korea’s corporate R&D spending lags global rivals

Major South Korean companies’ spending on research and development lags investments made by their global competitors due to lower government t...

LIG Nex1 signs agreement with Megazone Cloud, AWS

South Korea's LIG Nex1 Co. announced on Thursday that it has signed a memorandum of understanding for the future space, defense cloud transition wit...

Korean banks go digital in Southeast Asia for non-interest gains

South Korea’s top four banks are strengthening their overseas operations, particularly in the digital banking business, to increase their non-...

Daedong wins $52 mn engine order from Doosan Bobcat

South Korea’s No. 1 agricultural machinery maker Daedong Corp. will supply multicylinder diesel engines to Doosan Bobcat Inc. for five years, ...

SK C&C invests in US startup Glassdome

South Korea's SK C&C announced on Thursday that it has made a new investment in Glassdome, a US carbon emission management solution startup.&nbs...

Creator of Baby Shark, Pinkfong to launch music variety show

The lovable children’s characters Pinkfong and Baby Shark will soon star in a music variety show for their legions of global fans.The Pinkfong...

Samsung Engineering partners with global firms for CCUS

South Korea's Samsung Engineering is ramping up its strategies in the carbon capture, utilization, and storage (CCUS) arena by securing partnerships...

LG Energy Solution to supply EV batteries to Toyota for 10 years

LG Energy Solution Ltd. will supply 20 gigawatt hours (GWh) worth of batteries for electric vehicles of the world’s No. 1 car seller Toyota Mo...

NKMax's US subsidiary listed on Nasdaq

South Korean natural killer (NK) cell drugmaker NKMax Co. on Wednesday said its US subsidiary NKGen Biotech on Monday was listed on the Nasdaq Globa...

Pulmuone, BlueNalu team up for cell-cultured seafood

South Korean food company Pulmuone revealed plans on Thursday to boost its strategic partnership with US-based seafood startup BlueNalu, focusing on...

Korea markets melt as Fed officials foresee longer-than-expected high rates

South Korean financial markets lost ground on Wednesday with the 10-year government bond yield at a one-year high as US Federal Reserve policymakers...

Hanwha bets big on robots with Hanwha Robotics' official launch

South Korea’s seventh-largest conglomerate Hanwha Group has joined a race to win the burgeoning robot market, with the official launch of Hanw...

Naver's Kream integrates with Japan's Soda

Naver Corp.'s subsidiary Kream, the South Korean limited-edition goods trading platform has decided to merge its operations with Japan's Soda Inc., ...

Lotte Chilsung secures majority stake in Pepsi Philippines

Lotte Chilsung Beverage Co., a household name in South Korea’s soft drink market, said on Wednesday it has secured management rights of Pepsi-...

SUVs, small pickups grab largest share of S.Korea's car market

Sport utility vehicles (SUV) and small pickup trucks in South Korea are occupying a larger share of the domestic automotive market.Industry sources ...