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The state-run Export-Import Bank of Korea said Thursday that it has launched a Saudi Arabia desk to ramp up support for local firms expanding their businesses in the Middle East. According to the bank, the new desk will take charge of coordinating and supporting the private sector, not just within...
Korean building materials company LX Hausys said Thursday it is joining the International Surface Event 2024, the largest flooring trade show in North America, in a bid to secure a bigger footing in the all-important market. More than 700 companies specializing in flooring, tiles and other buildin...
LG Energy Solution on Thursday announced a strategic equity investment in Sion Power, an Arizona-based battery technology developer, in a bid to take the lead in next-generation lithium-metal battery technologies. Established in 1994, the US battery technology firm boasts over 470 international pa...
By Yoon Min-sik ( minsikyoon@heraldcorp.com )
Hyundai Motor Group pulled in an all-time high annual operating profit of 26.7 trillion won ($20 billion) last year, outpacing Samsung Electronics, which held the No. 1 position among the listed companies in Korea for 14 consecutive years, for the first time. Hyundai Motor Company saw a 15.1 trill...
SK hynix said that sales of its main products, DDR5 and HBM3, increased by more than four and five times, respectively, compared with a year earlier. In the NAND space, where recovery is relatively slow, the company prioritized streamlining investments and costs. The chipmaker forecast the demand ...
South Korean health and beauty retailer CJ Olive Young’s derma skin care brand Bioheal Boh and cosmetics and health care goods manufacturer Kolmar Korea have signed a business agreement to collaborate on microbiome skin care products. Under the recent agreement, the two companies will establish a...
LG Electronics reported another year of record sales in 2023, driven by upbeat sales of home appliances and automotive parts and solutions, the Korean tech giant said in its earnings conference Thursday. The company posted all-time high annual sales of 84.2 trillion won ($62.9 billion) last year, ...
Hyundai Motor Group has retained its position as the world's third-largest automaker for a second year, trailing only Toyota Motor and Volkswagen Group, based on its 2023 fourth-quarter and yearly financial results disclosed Thursday. The Korean automotive giant, comprising the Hyundai, Kia and Ge...
Porsche also pointed to its technology of active and passive aerodynamics optimized for driving range, resulting in a drag coefficient of 0.25, making it one of the most streamlined SUVs in the market. According to Robert Meier, director of Macan’s complete vehicle product line, the new electric ...
The total face value of damaged bills and coins discarded by the Bank of Korea reached nearly 4 trillion won ($2.98 billion) last year, marking a sharp rise from previous years as more in-person business transactions occurred with the end of the pandemic, the central bank said Wednesday. A total o...
After finishing the immersive experience, visitors can take pictures at the FlexCam Selfie Kiosk, where the Galaxy Z Flip5 is set up. Visitors can also try out various Korean foods and drinks in the marketplace, all curated by Yangban chef Katianna Hong. As a partnering supporter of the immersive...
The nation’s No. 1 ramyeon seller, Nongshim, said Wednesday that its flagship Shin Ramyun product posted record sales of 1.21 trillion won ($903 million) in 2023, a 14 percent jump from the previous year. The feat marks the second consecutive year that product sales surpassed 1 trillion won. Shi...
LG Display said Wednesday it would focus investment on OLED displays this year, seeking to continue growth momentum after it posted the first profit in seven quarters in the September-December period last year. “The panel demand, which has been volatile over the past three years due to COVID-19, ...
South Korean oil refinery and petrochemical firm HD Hyundai Oilbank said Wednesday it is making significant inroads into the North American lubricants market by supplying its XTeer products for HD Hyundai XiteSolution's industrial vehicles. The strategic push by the two subsidiaries of HD Hyundai ...
Samsung chip business back on track, logs W1.9tr operating profit in Q1
Marking 10 years, KB accelerator nurtures 255 startups
Financial groups maintain capital adequacy despite ELS risk
Naver, Intel, KAIST join forces to set up AI lab in Korea
Ministry launches special team to end dog meat consumption by 2027
Hyundai Motor launches internship program for foreign students