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Lotte Department Store has expanded its Chuseok gift inventory and preorder period after advance sales more than doubled during the latest holiday season. The retailer is taking preorders for about 190 gift sets, including Korean beef, seafood, fruit and groceries, at discounts of up to 50 percent at stores nationwide through Sept. 3. With Chuseok arriving earlier this year, Lotte extended the preorder period and increased supplies of some popular products to as much as twice last year’s level.
BMW Korea is expanding financing incentives, membership benefits and after-sales services to lower the cost of purchasing and owning its vehicles. Customers purchasing a 7 Series through BMW Smart Lease can receive up to 1 million won ($723) a month for eight months, depending on the contract terms. Eligible corporate customers using an operating lease or rental program can receive an additional 2 million won. For the 520i, Smart Lease customers can receive 500,000 won a month for 10 months. Eli
Nvidia has begun mass production of its Groq 3 LPX inference accelerator, with Samsung Electronics manufacturing the key chips, raising expectations that the Korean tech giant’s loss-making foundry business could return to profit as early as this year. Nvidia said Tuesday at the Hot Chips 2026 conference in California that Groq 3 LPX has entered full-scale production as the AI chip leader expands beyond graphics processing units into a broader computing stack spanning training, inference, system
Visa appointed Kunal Chatterjee as its new president for Korea and Mongolia on Wednesday, tasking him with accelerating digital payment growth in the two markets. Chatterjee will oversee Visa’s business strategy and strengthen relationships with financial institutions, merchants and other partners in Korea and Mongolia. He has spent nearly 20 years at Visa, holding leadership positions across product innovation, client management and business development in the Asia-Pacific region. Most recently
Lea Lee, head of global communications at LG Electronics, was recognized for outstanding individual achievement at the 2026 Asia-Pacific Sabre Awards, after leading the company’s communications work around its India initial public offering and an artificial intelligence-based media system. The award, presented by PRovoke Media in Singapore, honored Lee’s work overseeing LG Electronics’ global communications strategy, including executive positioning, corporate transactions and media analysis. One
Citi is leading South Korea's investment banking market this year as brisk debt and equity issuance continues, with the firm expecting strong deal flow to extend into the second half. Citigroup Global Markets Korea, Citi's investment banking franchise in Korea, currently ranks first in Dealogic's Korea Investment Banking Wallet League table with a 16 percent market share, Citi said Wednesday. The firm also has a strong pipeline of upcoming transactions and expects continued inbound and outbound
Posco is highlighting steel recycling and electric arc furnace technology in the second installment of its YouTube documentary series on the industry’s decarbonization. The steelmaker released “Steel, Finding New Life,” the latest episode of “The Evolution of Steel,” on its Posco Studio channel. Following the first episode, “Steel, Beyond the Age of Fire,” the new episode examines how scrap metal can be recycled and reused as the industry seeks to reduce carbon emissions. The episode opens at th
SK Biopharmaceuticals is staking nearly $800 million on rights to an epilepsy treatment from US biotech firm Biohaven, the company said Wednesday. In a regulatory filing, the South Korean drugmaker said it struck an exclusive licensing deal worth up to $795 million with Biohaven Bioscience Ireland Limited for the epilepsy drug candidate opakalim (BHV-7000), along with other Kv7 potassium channel openers and Biohaven's Kv7 Discovery Platform. Opakalim is an investigational treatment for partial-o
Burger King Korea is opening its first global flagship store in Seongsu, Seoul, casting 70 years of flame-grilled heritage in a new register, across menu and atmosphere alike. Speaking at a media briefing on Wednesday, Burger King Korea CEO Lee Dong-hyeong described the store, fittingly named Flameground, as a place built to let customers experience the brand's burgers in new flavors, set within a space shaped by its flame-themed identity. "Beyond offering the same experience at every store worl
Three major LS Cable & System subsidiaries posted record first-half earnings as investment in AI data centers and power grids drove demand for cables, bus ducts and subsea infrastructure. Gaon Cable, LS Eco Energy and LS Marine Solution generated combined revenue of 2.42 trillion won ($1.75 billion) and operating profit of 119.7 billion won in the January-June period. Gaon Cable reported consolidated revenue of 1.63 trillion won, up 27.3 percent from a year earlier. Operating profit jumped 41.8
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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