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Hyundai Motor’s global sales fell below 300,000 vehicles in August for the first time in more than four years after its first full-scale strike in a decade disrupted production. The setback also sharply narrowed the sales gap between Hyundai and smaller affiliate Kia. Hyundai said Tuesday that global sales dropped 14.2 percent year on year to 288,574 vehicles. Domestic sales plunged 41.1 percent to an 11-year low of 34,333 units. It was Hyundai’s first monthly domestic tally below 40,000 since F
SK Group Chairman Chey Tae-won is considering building a chip plant in Japan, potentially with NAND flash maker Kioxia, as the Korean conglomerate seeks deeper cooperation with its Japanese rival. Joint production is “one option,” Chey said in an interview with the Asahi Shimbun published Tuesday during his visit to Tokyo. He also identified supply chain coordination and joint research and development as potential areas of cooperation. The move underscores SK hynix’s ambition to leverage its lea
A senior US Army acquisition official inspected Hanwha Aerospace’s artillery production facilities in South Korea shortly after the company secured a contract to deliver prototype howitzers for an Army modernization program. Hanwha said Wednesday that Brent G. Ingraham, assistant secretary of the US Army for acquisition, logistics and technology, visited its Changwon facilities in South Gyeongsang Province on Aug. 26 with a US delegation. Ingraham is the US Army acquisition executive, who overse
LIG Defense & Aerospace is targeting the Nordic defense market with uncrewed maritime systems designed for surveillance, mine detection and infrastructure protection, the company said Wednesday. At DALO Industry Days 2026, held Aug. 19-20 in Herning, Denmark, the company showcased its Sea Sword unmanned surface vessel, Harbor Underwater Surveillance System and autonomous underwater vehicle for mine detection. It also displayed the AT-1K Raybolt antitank guided missile. The head of the Danish Min
Jurisdiction has emerged as the key issue in a US class-action lawsuit over Coupang's massive personal data breach. Judge Ann Donnelly on Tuesday questioned why the case should be heard in New York rather than in South Korea during a preliminary hearing at the US District Court for the Eastern District of New York. The plaintiffs, represented by South Korean law firm Daeryun and its US partner SJKP, underlined that Coupang Inc. is an American company listed on the New York Stock Exchange and tha
Korea Exchange Chairman and CEO Jeong Eun-bo held talks with California Public Employees' Retirement System, or CalPERS, to promote greater investment in South Korea's capital markets, the bourse operator announced Wednesday. Jeong met with CalPERS Chief Investment Officer Stephen Gilmore. CalPERS is the largest public pension fund in the US, managing roughly $637.1 billion in assets as of June 30. During the meeting, Jeong highlighted the progress made in capital market reforms led by the gover
Posco Group Chairman Chang In-hwa proposed strengthening resource supply chains at the 47th Korea-Australia Business Council annual joint meeting in Adelaide on Wednesday. About 200 government and business officials from both countries attended the meeting, including Australian Foreign Minister Penny Wong, Trade and Tourism Minister Don Farrell and Martin Ferguson, chairman of the Australia-Korea Business Council. Chang emphasized supply chains that combine Australia’s resources with Korea’s ref
Genesis BBQ Group is turning to AI, data and robotics to streamline store operations and maintain consistent product quality as the fried chicken franchise accelerates its global expansion. The company unveiled three growth strategies — “AX Transformation,” “Globalization 2.0” and “Sustainable Platform” — at its 31st anniversary ceremony held Tuesday at Chicken University in Icheon, Gyeonggi Province. Under its AX Transformation strategy, BBQ plans to integrate data from store management, custom
Shinsegae Property, the real estate development arm of Shinsegae Group, is bringing ultra-luxury hospitality brand Aman's first Korean property to Seoul's Cheongdam-dong, under Chairman Chung Yong-jin's vision of setting a new standard for the country's high-end lifestyle market. The company announced Wednesday that it will develop Aman Seoul, handling planning, strategy and execution, while Aman will handle design and operations, managing the hotel and residences under a long-term agreement. Am
South Korean AI startup Wrtn Technologies has begun preparations for an initial public offering, seeking capital to accelerate its overseas expansion after rapid growth in North America. Wrtn recently sent requests for proposals to major Korean securities firms to select lead underwriters, the company said Tuesday. It plans to appoint IPO advisers this month and map out the listing process, with a market debut targeted for 2028 or later. The preparations follow a 100 billion won ($73 million) Se
Samsung, LG take AI home race beyond appliances at IFA 2026
Posco chief calls for stronger Korea-Australia resource ties
Chipotle bets on Korea for first bite of Asia
Samsung vs. LG battle for AI cooling heats up
Musinsa posts record earnings on offline, global expansion
One purchase every 0.9 second: Olive Young foreign sales top W1tr
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