Hyundai Motor units mull dropping 'Hyundai' from company names

South Korea’s Hyundai Motor Group is considering dropping the word “Hyundai” from the names of its subsidiaries such as auto parts...

S.Korea's extended reality sector forms industry convergence alliance

The Korea Display Industry Association (KDIA) on Wednesday signed a memorandum of understanding (MOU) on a convergence alliance of the domestic exte...

Korean Chips Act revision hits roadblock as opposition lawmakers balk

The proposed revision to South Korea’s answer to the US CHIPS and Science Act has hit a roadblock as the main opposition party, which controls...

Samsung secures $16 bn loan from display unit for chipmaking

South Korea's Samsung Electronics Co., the world’s largest memory chipmaker, has signed a deal to take out a cash loan of 20 trillion won ($15...

Olive Young exports K-beauty products to Middle East

Olive Young, a health and beauty platform, has begun targeting the Middle Eastern cosmetics market.South Korea's CJ Olive Young, which operates Oliv...

Korea’s Hyundai Dept. Store drops holding company plan

South Korea’s major retailer Hyundai Department Store Group Co. gave up a plan to split off its core high-end shopping mall affiliate and conv...

S.Korean firms showcase hydrogen offerings in United States

South Korean energy ministry and major Korean companies including Hyundai Motor Co., SK E&S, and Korea Zinc Co. participated in the Hydrogen &am...

Lotte Group to directly control global real estate unit

Lotte Corp., the fifth-largest conglomerate in South Korea, is poised to strengthen its real estate development unit under the direct control of the...

SKC eyes M&As in semiconductor, rechargeable battery materials

SKC Inc., a South Korean chemical materials company under SK Group, is seeking to buy semiconductor and rechargeable battery materials companies in ...

SK Innovation steps up carbon offset, green investments

SK Innovation Co., the refinery and chemicals unit of South Korea’s second-largest conglomerate SK, is poised to strengthen its eco-friendly b...

Jay Park's Won Soju ready to land in United States

"Won Soju" launched by a South Korean rapper Jay Park will be exported to the United States. Liquor company Won Spirits said on Thursday that it has...

GM Korea to launch Trax, Cadillac EV; likely turn to profit this year

GM Korea Co. expects to turn to profit this year after years of losses as the South Korean subsidiary of the US auto giant plans to bring six new an...

SK Telecom, Doosan Robotics launch AI-powered barista

South Korea's top mobile carrier SK Telecom Co. and Doosan Robotics Inc. have jointly launched an artificial intelligence-powered barista, SK Group'...

S-1 unveils AED with analysis time reduced to 2 seconds

S-1 Corp., a security affiliate of South Korea's Samsung Group, has been expanding its presence into the automated external defibrillator (AED) area...

Global smartphone shipments hit 10-year low in 2022

Global smartphone shipments last year declined to their lowest level in 10 years, showing how consumers closed their wallets amid the economic downt...

Samsung Heavy, MISC to jointly develop floating CO2 storage units

South Korea's major shipbuilder Samsung Heavy Industries said on Thursday that it has signed an agreement with MISC Berhad, a Malaysian offshore ene...

Woori Financial to acquire VC firm Daol Investment

South Korea’s Woori Financial Group is set to acquire Daol Investment Co., a venture capital arm of the liquidity-strapped Daol Financial Grou...

Lotte Chem to sell Pakistan unit for $156 mn to finance other projects

Lotte Chemical Corp. is set to sell its Pakistan unit for 192.4 billion won ($155.8 million won) to a chemical company in the country as the South K...

Hyundai's Genesis beats rival Infiniti in US car sales

Genesis, Hyundai Motor Group's premium sub-brand, sold more car units in the US last year than its Japanese rival Infiniti.Genesis sold a record-hig...

Korea’s Daol to sell another unit to secure liquidity

South Korea’s Daol Financial Group agreed to sell another unit as part of its efforts to raise money in preparations for a possible liquidity ...

Hyundai, Kia beat Honda to rank 5th in US market

Hyundai Motor Co. and Kia Corp. kept their fifth place in sales in the US market for the second consecutive year. Despite production setbacks due to...

Naver’s Japan-focused B2B unit swings to profit

Naver Corp.’s business-to-business (B2B) services provider Works Mobile Co. posted its first-ever profit in 2022, driven by a surge in Japanes...

S.Korea's automotive unit Kolon Mobility Group reborn as separate entity

South Korea's Kolon Mobility Group has been launched with Lee Kyu-ho, the great grandson of the Kolon Group founder Lee Won-man, as co-CEO. Formerly...

SK Networks completes acquisition of local EV charging platform operator

SK Networks Co., a South Korean general trading firm, said on Jan. 3 it has completed the acquisition of SS Charger Co., a leading electric car char...

SKC's film business units change their names, start anew

SKC Future Materials and SKC Hi-Tech & Marketing, which had newly been established through the spin-off of SKC's industrial materials division (...

Applied Materials injects $40 mn in glass substrate maker Absolics

Applied Materials Inc., a global leading equipment and software supplier to semiconductor makers, has invested 51 billion won ($40.2 million) in Abs...

POSCO Int’l completes merger with energy affiliate

South Korea’s POSCO International Co. completed a merger with its affiliate POSCO Energy Co. on Jan. 1, which the trading company said would f...

Korean won to stay weaker than profitable levels – poll

The South Korean won was expected to stay weaker than levels for corporate profits this year as the local currency was likely to stay under pressure...

S.Korea's Medicox boosts unit for oral insulin, medical cannabis

South Korea's Medicox Co. on Wednesday said it will raise 40 billion won ($32 million) to boost its unit for oral insulin and cannabidiol (CBD).The ...

Korea auto output to increase slightly in 2023: research

Domestic automobile output next year is forecast to increase 1.4% over this year to 3.7 million units.The Korea Automobile Manufacturers Association...