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A wave of cyberattacks has exposed personal data at seven South Korean financial firms, prompting emergency security measures as regulators investigate whether a single attacker used artificial intelligence to breach their defenses. Shinhan Bank and Yegaram Savings Bank reported the largest breaches, affecting about 25,000 and 40,000 people, respectively. Authorities found the same attacker’s internet protocol address across all seven affected firms, raising suspicions of a coordinated campaign.
HD Hyundai XiteSolution has launched what it says are South Korea’s first electric forklifts with lifting capacities of 10 to 18 tons, targeting shipyards, ports and steel mills traditionally reliant on diesel equipment. The company said Monday it recently held a test-drive event at its Eumseong plant in North Chungcheong Province for the new models, which have entered mass production. The launch follows the introduction of four- to nine-ton electric forklifts last year, giving the company what
Samsung Electronics is poised to break the 100 trillion won mark in quarterly operating profit for the first time, as booming memory chip sales drive another record quarter. The company is expected to report third-quarter operating profit of 108.1 trillion won ($80.2 billion), up nearly ninefold from a year earlier, on revenue of 201.7 trillion won, according to brokerage estimates compiled by FnGuide as of Monday. Samsung releases preliminary earnings guidance Thursday. The forecasts imply reve
Daewoo Engineering & Construction's new CEO, Lee Kang-seok, took office with three keywords — "summit," "together" and "challenge" — to power the company's next stride as the construction industry shifts. The company announced Monday that its shareholders and board had formally appointed Lee as chief executive on Friday. Lee pledged to aim higher, build a culture where people work as one, and venture into new businesses on the strength of the company's expertise. "The future does not arrive beca
Korean Air and Hanjin Group Chairman and CEO Walter Cho has been named the Asia Airline executive of the year for his leadership through the pandemic and the airline’s merger with Asiana Airlines, Korean Air said Monday. Cho received the award at the CAPA Airline Leader Summit Asia, held Thursday and Friday at New Chitose Airport on the northern Japanese island Hokkaido. The ceremony was held by CAPA — Center for Aviation, an aviation market intelligence provider that recognizes executives for t
Woori Bank has arranged a loan of 70 million pounds ($93 million) and a matching interest rate swap for a London-based company, completing its first corporate derivatives deal through its London Trading Center, the lender said Monday. The transaction, signed Sept. 29 in cooperation with Woori’s London branch, allows the borrower to exchange floating-rate interest payments for fixed payments, reducing uncertainty over borrowing costs. Woori hedged the swap directly in the London market through it
KT&G is gaining new shelf space across global airport duty-free retail, from Kyrgyzstan to Bahrain to Istanbul, drawing on a 25-year run at Incheon Airport, where it has ranked among the top-selling brands. The push comes as global duty-free retail swells and KT&G turns its buyer network from trade shows into new markets. The South Korean tobacco maker has sold cigarettes at Incheon's duty-free shops since the day the airport opened in March 2001, and now sells about 100 products there, ranking
Hana Financial Group opened its new headquarters in Cheongna-dong, Incheon, Friday, bringing financial and technology teams together to strengthen collaboration among affiliates and to accelerate its adoption of artificial intelligence. About 2,200 employees from the holding company and 10 major affiliates began moving into the headquarters in September. The complex will house about 4,000 financial and IT personnel, including staff at its existing data center, Hana said. The opening completes th
Hyundai Group Chair Hyun Jeong-eun has been reappointed honorary governor of North Chungcheong Province, extending her service in the advisory role she first took on in 2020, the group said Monday. North Chungcheong Province Gov. Shin Yong-han presented Hyun with an appointment plaque at Banyan Tree Club & Spa Seoul on Friday. The honorary position recognizes contributions to regional development and involves advising on policy and supporting provincial initiatives. Hyun’s ties to the province d
Hanmi Pharmaceutical’s Eppe is poised to challenge Wegovy and Mounjaro in Korea’s fast-growing obesity drug market, with price emerging as a potentially decisive advantage. The homegrown glucagon-like peptide-1, or GLP-1, drug is expected to launch before year-end, pending approval from the Ministry of Food and Drug Safety. Hanmi has yet to announce a final price, but industry estimates suggest a four-week supply could cost around 150,000 won ($111). That would undercut the lowest prices listed
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AmCham chief receives honorary doctorate from Korea Aerospace University
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Samsung's top brass convene in Tokyo as Japan chip ties deepen
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