S.Korea’s duty-free industry going downhill

S.Korea’s duty-free industry going downhill

The South Korean travel retail industry, once considered the country’s golden goose, is forced to streamline operations given no signs of a dr...

LG Energy Solution's ESS division posts first-ever profit

LG Energy Solution's ESS division posts first-ever profit

LG Energy Solution Ltd.'s energy storage system (ESS) division posted its first-ever profit on the back of growing replacement demand and new constr...

Korea rejects BlackRock’s $7.5 bn wind farm project

Korea rejects BlackRock’s $7.5 bn wind farm project

South Korea has slammed the brakes on BlackRock’s offshore wind farm project worth around 10 trillion won ($7.5 billion), citing financing unc...

Lotte Group Chairman says to sell ailing units for new biz: report

Lotte Group Chairman says to sell ailing units for new biz: report

Lotte Group plans to sell ailing units as the South Korean retail-to-chemical conglomerate is shifting its focus to new growth sectors such as bio, ...

Number of foreign tourists visiting Korea surpasses 11 million in 2023

Number of foreign tourists visiting Korea surpasses 11 million in 2023

The number of foreign tourists visiting Korea last year exceeded 11 million, reaching 63% of the pre-COVID level, with over 1 million arrivals month...

Whisky imports hit record high in S. Korea amid falling wine interest

Whisky imports hit record high in S. Korea amid falling wine interest

Soaring highballs propelled whisky consumption to record heights in South Korea last year, while pandemic-driven interest in wine waned significantl...

Hyundai, BAIC join hands to develop China-only EV brand

Hyundai, BAIC join hands to develop China-only EV brand

BEIJING – Hyundai Motor Co. has joined hands with Beijing Motor Corp. (BAIC) to debut a new electric vehicle brand specifically tailored to Ch...

Korea’s KIC opens Mumbai office to spur emerging market investment

Korea’s KIC opens Mumbai office to spur emerging market investment

Sovereign wealth fund Korea Investment Corporation (KIC) said on Monday it has launched its Mumbai office, establishing the state-run fund’s f...

LG Elec unveils OLED TV featuring world-renowned AI artist in US

LG Elec unveils OLED TV featuring world-renowned AI artist in US

LG Electronics Inc. collaborated with world-renowned artificial intelligence (AI) artist Stephanie Dinkins to showcase art pieces that explore commu...

Korea’s next tech wave in music to mushroom culture  

Korea’s next tech wave in music to mushroom culture  

Investors on the hunt for the next big thing in South Korea explored the country’s next wave of technology at this year’s first demo day...

LG Energy to supply $748 million worth of batteries to Japan’s Isuzu Motors

LG Energy to supply $748 million worth of batteries to Japan’s Isuzu Motors

LG Energy Solution Ltd., one of the world’s leading battery makers, has agreed to supply its cylindrical batteries to Isuzu Motors Ltd., Japan...

LG to unveil commercial display solutions at ISE 2024

LG to unveil commercial display solutions at ISE 2024

LG Electronics Inc. said on Friday it will unveil a cloud platform for business-to-business (B2B) customers of commercial displays at Integrated Sys...

Samsung Galaxy S24: A success story even before hitting the shelves

Samsung Galaxy S24: A success story even before hitting the shelves

Samsung Electronics Co.'s latest flagship smartphone series, the Galaxy S24, is enjoying strong demand even before hitting the shelves of the compan...

LG Energy leaves 2024 capex unchanged despite softer demand

LG Energy leaves 2024 capex unchanged despite softer demand

LG Energy Solution Ltd. will break through the anticipated slowdown in global electric vehicle demand this year with enhanced technology leadership ...

Korea unveils next-gen howitzer plans for defense exports

Korea unveils next-gen howitzer plans for defense exports

South Korea introduced plans for the development of next-generation self-propelled howitzers to its existing customers as the country aims to foster...

LG Electronics likely ahead of Whirlpool with record 2023 sales

LG Electronics likely ahead of Whirlpool with record 2023 sales

LG Electronics Inc. is consolidating its lead over Whirlpool Corp. as the world’s top home appliances maker as the South Korean electronics ma...

Korea needs population growth for sustainability: World Bank chief

Korea needs population growth for sustainability: World Bank chief

World Bank President Ajay Banga said on Thursday that South Korea needs to boost population growth by easing the fierce competition in education and...

Samsung flexes AI chip muscles ahead of Altman visit

Samsung flexes AI chip muscles ahead of Altman visit

Samsung Electronics Co. will go all out to win the AI chip race with its most advanced AI memory chip products, its semiconductor business head said...

Hyundai Motor, Kia: S.Korea’s highest earners, Tesla’s biggest rival in US

Hyundai Motor, Kia: S.Korea’s highest earners, Tesla’s biggest rival in US

Hyundai Motor Co. and Kia Corp., South Korea’s two largest automakers, became the country’s highest earners in 2023, buoyed by robust sa...

Lotte gets exclusive right of Bacha Coffee in S.Korea

Lotte gets exclusive right of Bacha Coffee in S.Korea

South Korea's Lotte Department Store announced on Thursday that is has secured the exclusive franchise and distribution rights for Bacha Coffee, M...

LG Energy to invest in Li-metal battery developer Sion Power

LG Energy to invest in Li-metal battery developer Sion Power

Global lithium-ion battery major LG Energy Solution Ltd. will invest in Sion Power Corp., a US startup holding core patents in lithium-metal battery...

Mohegan gains Korea’s 1st foreign casino license in 19 years

Mohegan gains Korea’s 1st foreign casino license in 19 years

Mohegan Gaming & Entertainment (MGE) will open a foreigners-only casino at its resort complex in Incheon, South Korea in the first quarter after...

LG Channels poised to take off in India as new cash cow

LG Channels poised to take off in India as new cash cow

LG Electronics Inc.'s transformation into a media and entertainment platform is gaining traction as its free web-based television streaming service ...

Taihan Cable sees best profit in 15 years on foreign orders

Taihan Cable sees best profit in 15 years on foreign orders

Taihan Cable & Solution Co., a major South Korean cable manufacturer, on Tuesday said its 2023 operating profit hit the largest level in 15 year...

S.Korea should cut inheritance, gift taxes to OECD levels: SME lobby chief

S.Korea should cut inheritance, gift taxes to OECD levels: SME lobby chief

South Korea, which imposes some of the highest inheritance and gift taxes on businesspeople among the Organization for Economic Cooperation and Deve...

Korea’s ELS market to stagnate after HSCEI debacle: KOFIA chairman

Korea’s ELS market to stagnate after HSCEI debacle: KOFIA chairman

The Korea Financial Investment Association (KOFIA) will go all out to minimize any adverse effects on the South Korean financial market from an anti...

Harim, KDB in dispute over $5 bn HMM deal conditions

Harim, KDB in dispute over $5 bn HMM deal conditions

Talks to sell South Korea’s No. 1 ocean carrier HMM Co. to Harim Group, a leading poultry processor, have made little progress amid disputes o...

North Korea’s missiles tested on the battlefields of Ukraine

North Korea’s missiles tested on the battlefields of Ukraine

SEOUL—One of the world’s biggest illicit-arms suppliers just got a major advertisement.In recent weeks, Russian forces have fired...

Hyundai, LG ask US to ease EV tax benefit requirements

Hyundai, LG ask US to ease EV tax benefit requirements

South Korean electric vehicle and battery makers including Hyundai Motor Group and LG Energy Solution Ltd. have asked the US to ease requirements fo...

LG gets global AI management system certification

LG gets global AI management system certification

LG Electronics Inc. announced on Monday that it has received the Artificial Intelligence Management System (ISO/IEC 42001) certification, an interna...

Hyundai Motor’s high-stakes gambit in US: Cut vehicle prices as rivals hike With waning MZ interest, is heyday over for S.Korea’s golf apparel market? LG links up with Chinese rivals for budget appliance supremacy Mercedes opens world’s 1st Maybach flagship center in Seoul Blackpink's new single Jump tops Spotify daily chart