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China's Alibaba Group plans to invest $1.1 billion in South Korea over the next three years, as it seeks to build a logistics center and expand businesses. As part of the investment plan, the Chinese e-commerce giant plans to spend $200 million this year to build the logistics center, according to...
Hyundai Motor and Kia will voluntarily recall nearly 170,000 electric vehicles (EV) to address a software error in the charging system, the government said Thursday. The Ministry of Land, Infrastructure and Transport said 12 car models totaling 232,000 units from Hyundai Motor, Kia, Stellantis Kor...
Korean travel platform operator Yanolja announced the opening of its first US office in Manhattan, New York, on Wednesday. The move aims to accelerate its North American travel solutions business, coinciding with growing anticipation for the company's potential listing on the US stock market this y...
Major global offices of Hyundai Motor Company and Kia turned into the black last year as the South Korean automakers logged record-high earnings on surging sales across the world, according to their audit and business reports on Wednesday. According to the audit report of Hyundai Motor Company, th...
The biggest shareholder of KT&G has said it opposed a nomination for chief executive of South Korea's dominant cigarette maker, citing falling profitability and dubious business practices during the nominee's tenure as a board member. In a regulatory filing Tuesday, state-run Industrial Bank of Ko...
The feud over South Korean game developer Nexon's Maplestory, a popular side-scrolling massively multiplayer online role-playing game, or MMORPG, is escalating, with gamers filing a class action suit and Nexon taking the antitrust regulator’s fine assessment to court. As the in-court battle is ex...
By Kim Hae-yeon ( hykim@heraldcorp.com )
LX Pantos, a Korean logistics company, said Tuesday that it has obtained the Trusted Information Security Assessment Exchange certification from the German Association of the Automotive Industry, in a move to gain an upper hand in delivering cars and automotive parts. TISAX serves as a standardize...
Hyosung Group's corporate venture capital arm Hyosung Ventures said Tuesday that it had decided to invest in Colosseum, a company specializing in logistics center network solutions. Colosseum is a fourth-party logistics provider, offering comprehensive solutions that encompass inventory management...
Market reshaping According to Bain and Company's 2024 report, the global luxury goods market posted 4 percent growth in sales in 2023 compared to a year ago. But business uncertainty persists, with mixed signals coming from key markets such as China, the US and Europe. The luxury e-commerce marke...
SK Ecoplant said Tuesday its wholly owned e-waste management affiliate has signed an initial pact with two Japanese companies for partnership in the used battery recycling business. Singapore-based Total Environment Solution (TES) has signed a memorandum of understanding with Sumitomo Mitsui Finan...
Major South Korean shipyard HD Korea Shipbuilding & Offshore Engineering said Tuesday it has clinched a 688 billion-won ($525.4 million) order to build four crude oil carriers for a shipper in Europe. Hyundai Samho Heavy Industries, one of HD Korea Shipbuilding's three shipbuilding units, will con...
At the InterBattery 2024 conference hosted at Coex in southern Seoul last week, South Korea's prime battery companies -- LG Energy Solution, Samsung SDI and SK On -- collectively emphasized ultrafast charging as the critical breakthrough needed to shift the electric vehicle market from its early ad...
Doosan Enerbility, a leading energy solutions provider in South Korea, announced on Monday that it has signed a contract valued at 150 billion won ($114 million) to supply equipment for Saudi Arabia's largest combined-cycle power plant project. The agreement was reached with China’s SEPCO-3, resp...
South Korean food company Daesang has unveiled its new Korean Street Food product line through its international brand, O'food. According to the company on Monday, the launch signals a strategic push to adapt and expand the company’s offerings to meet the growing global appetite for Korean cuisin...
[Exclusive] Korean military set to ban iPhones over 'security' concerns
SK CEOs vow to bolster corporate value-up drive
Aging population to drive down Korea's housing prices from 2040: experts
LG CNS wins Google Cloud partner awards for second year
CJ's processed rice sales soar in North America
[Herald Interview] Bridging Korea, Philippines for better future