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HD Hyundai Heavy Industries said Wednesday it has launched the Chimbote, the first of two landing support ships being jointly built in Peru under a new export model combining Korean technology with local production. The vessel was launched at the shipyard of Peru’s state-run Servicios Industriales de la Marina, or SIMA. Designed for the Peruvian Navy, the Chimbote can transport personnel and supplies while supporting logistics and disaster-response operations. Its sister ship, the Talara, comple
Daewoo Engineering & Construction said Wednesday it will begin sales in September for Dujeong Station Prugio Grand Peak, a new apartment complex in Seongjeong-dong, Cheonan, South Chungcheong Province. Located in Cheonan’s established Seobuk-gu downtown area, the complex is positioned to serve workers at nearby industrial sites, including Samsung Display’s Cheonan Campus. It is also within commuting distance of the Cheonan No. 2, 3 and 4 General Industrial Complexes and the Baekseok Agricultural
Samyang Foods has reported 770.3 billion won ($545.8 million) in second quarter sales, up 39.3 percent from the same period last year, on the back of strong overseas demand. According to the Korean instant noodle maker, it logged 176.2 billion won in operating profit during the period, which is 46.7 percent more than the April-to-June figure recorded in 2025. Overseas sales were the main driver of the company's growth, reaching a record 645.8 billion won, up 46.7 percent from a year earlier. It
The Born Korea CEO Paik Jong-won’s global push is taking shape through initiatives spanning restaurant brands, local sauce production and distribution networks in North America. The Born Korea said Tuesday that Paik recently signed a memorandum of understanding with Sunray Group, a major Canadian hotel and real estate company, for cooperation in the restaurant business. Paik also held talks with major Canadian food distributors on expanding sales and distribution of The Born Korea, or TBK, sauce
ARIH, a food and beverage brand developed by Paldo and hy in collaboration with BTS, is expanding into Japan and Canada, broadening its presence across key Asian and North American markets. According to the companies on Tuesday, ARIH products will be sold exclusively through 7-Eleven Japan, which operates more than 22,000 stores across Japan. They plan to leverage the convenience store chain’s extensive nationwide network to increase brand awareness and reach consumers through everyday shopping
Hyundai Engineering & Construction said Tuesday it has been selected as a construction partner for BIll Gates-backed TerraPower’s next-generation nuclear power projects, strengthening its push to secure a lead in the global advanced energy supply chain. Under the agreement, the companies will expand cooperation in the nuclear power sector, including TerraPower's advanced nuclear reactor project Natrium, and jointly identify new business opportunities by combining their respective technologies an
Woori Financial Group said Tuesday it will merge Tongyang Life Insurance and ABL Life Insurance into a 55 trillion won ($39 billion) insurer, with the combined company targeted for launch in the second half of 2027. The merger represents a major expansion of Woori’s insurance business as the group seeks to reduce its reliance on banking and build stronger nonbank operations. Woori plans to develop the combined insurer into one of its core businesses and a new growth engine. The financial group a
S-Oil is betting 9 trillion won ($6.4 billion) on its Shaheen Project to sharpen the cost, energy and supply-chain competitiveness of Korea’s struggling petrochemicals industry. According to the company on Tuesday, the Shaheen Project marks the world’s first commercial deployment of thermal crude to chemicals technology, which converts crude oil and low-value refinery fractions directly into high-value petrochemical feedstocks. The facility drastically improves raw material and energy utilizatio
South Korea’s three major battery makers poured over 4 trillion won ($2.84 billion) into plant construction and equipment upgrades in the first half of the year, keeping their capital spending steady even as the slowdown in electric vehicle demand drags on. In their first-half business reports, LG Energy Solution, Samsung SDI and SK On together spent about 4.32 trillion won on battery-related facilities. Much of the investment was allocated toward new production capacity, plant expansions and eq
LS Electric said Tuesday it has won a $34.3 million contract from US energy technology company Bloom Energy to supply power distribution equipment for a hyperscale data center in Wyoming. Under the agreement, LS Electric will provide key systems, including low-voltage switchboards, for the data center project being developed by Bloom Energy and a major US energy infrastructure company. The Korean maker of power equipment has been expanding its next-generation distribution business as the rapid g
Chipotle bets on Korea for first bite of Asia
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