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Hyundai Motor posted a record-high operating profit of 9.8 trillion won ($8 billion) last year as it sold almost 4 million vehicles across the world, the South Korean automaker said Thursday. Despite the global economic downturn, Hyundai Motor’s yearly sales also recorded 142.5 trillion won, up 2...
Private equity funds Unison Capital Korea and MBK Partners have joined hands to take over Osstem Implant, the nation’s largest dental manufacturer, according to the companies on Wednesday. Osstem Implant announced that UCK and MBK Partners will go for a tender offer through special purpose compan...
Mirae Asset Global Investments has gobbled up nearly half of target-date fund market share, recording 3.5 trillion won ($2.84 billion) under management as of the end of 2022. TDF refers to an investment scheme where a portfolio’s asset allocation mix automatically rebalances throughout an account...
NPS In Action is a series of articles and interviews on South Korea’s largest investor National Pension Service to analyze its current state and identify tasks that lie ahead. This is the first installment. -- Ed. Seo Won-joo took the reins as the new chief investment officer of the National Pens...
LG Energy Solution on Wednesday denied earlier reports on the alleged decision to put a pause on the joint plan with General Motors to build a fourth battery cell manufacturing plant for electric vehicles in the US. “The two companies are still in discussions about Ultium Cells’ fourth plant in ...
The Korea Pharmaceutical and Bio-pharma Manufacturers Association on Friday sent a written opinion to the US government, in which the business lobby raised concerns over the Biden administration's executive order aimed at bolstering domestic production of biotechnology and biomanufacturing products...
Lotte Duty Free said Wednesday it clinched a 10-year contract to become the new operator of Melbourne Airport duty-free shops, in a bid to make further inroads into the Oceania market. According to the South Korean duty-free goods retailer, starting June 1, Lotte will offer a duty-free experience ...
South Korean chipmaker SK hynix said Wednesday it has developed the world’s fastest mobile DRAM chips that have already been delivered to customers. The new product, named Lower Power Data Rate 5 Turbo, or LPDDR5T, operates at a data rate of 9.6 gigabits per second, 13 percent faster than the pre...
South Korean drugmaker Celltrion announced on Wednesday that it has increased its stake in British biotechnology firm Iksuda Therapeutics to 47.05 percent through direct investment and a fund formed with Mirae Asset Capital. This decision has made Celltrion and the Mirae Asset Celltrion New Growth...
Woori Bank’s overseas subsidiaries received the most penalties last year among South Korea's top four commercial banks, according to DART, the Financial Supervisory Service's electronic disclosure board, on Wednesday. In 2022, Woori Bank that operates 11 overseas branches received a total of six ...
Hyundai Motor Group recorded double-digit market share last year in 10 European countries, stepping up as the fourth-largest carmaker to have sold battery-powered electric vehicles, data showed Wednesday. Hyundai and its affiliate Kia sold a total of 96,988 EVs with a 10 percent market share in 10...
Global cumulative sales of Hyundai Motor Group’s electric vehicles have surpassed the 1 million milestone, according to the South Korean automaker Tuesday. The automaker achieved the milestone 11 years after it began selling EVs in 2011. Hyundai Motor and its premium brand Genesis have sold 601,4...
South Korean financial authorities have announced a set of new rules, including abolishing the decades-old investor registration system, in a move to create a welcoming environment for foreign investors. According to the Financial Services Commission, foreign investors hold around 30.7 percent of ...
US fried chicken fast food chain Popeyes is reporting strong sales after its return to the South Korean market. According to Silla Group, the operator of Korean Popeyes outlets, more than 5,000 customers visited its Gangnam branch during the first three days of the chain's relaunch, which took pla...
South Korea’s two major conglomerates, Samsung and Hyundai, have long been keeping their distance as they avoid competing head-on in their core businesses. But the decades-old unspoken rule may be ending in robotics, a burgeoning area where their leaders are pouring resources in search of a future...
LG Energy Solution logs record earnings on increased shipments
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