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Hyundai Motor, South Korea's largest automaker, plans to strengthen the competitiveness of its electric vehicle (EV) business and actively pursue its software-defined vehicle (SDV) vision this year, its chief executive said Thursday. At an annual meeting of shareholders, Hyundai Motor CEO and Pres...
SK Group Chairman Chey Tae-won on Thursday was reelected as head of the Korea Chamber of Commerce and Industry (KCCI), a major South Korean business lobby, for a second term. The KCCI held an extraordinary general meeting in Seoul and unanimously reelected Chey as the chamber's chairperson. The t...
Emart24, a South Korean convenience store chain, said Thursday all three of its outlets in Singapore have been temporarily suspended for preparations to better serve customers in the Asian country. A statement released by Emart24 Singapore Pte. Ltd., Emart24's master franchisor partner firm, said ...
Chang In-hwa, a seasoned veteran in the steel industry, became the chairman and CEO of Posco Group, South Korea's fifth-largest conglomerate, officials said Thursday. In a shareholders' meeting, Posco Holdings, the steelmaking group's holding company, passed a resolution to appoint Chairman Chang ...
French cosmetics retailer Sephora, owned by LVMH Group, on Tuesday declared its withdrawal from the Korean market, following years of financial losses. "With heavy hearts, we have decided to cease operations in Korea. From May 6, we will gradually wind down our presence across online platforms, mo...
Under the new leadership, NCSoft is set to renew and reorganize its internal operations with a focus on four strategic areas. Park wants to remove unnecessary overlaps to ensure departments work more cohesively and improve operational efficiency by making processes more transparent and accountable,...
South Korean logistics company Hanjin Logistics Corp. said Wednesday it has signed a partnership with Tuushin LLC, Mongolia's leading freight forwarding company, as a strategic move to advance its presence in Mongolia. On Tuesday, Hanjin and Tuushin inked a memorandum of understanding at Hanjin's ...
South Korea’s largest aerospace company Hanwha Aerospace said Wednesday it has been selected as a private entity to lead the nation’s next-generation space rocket project. The Public Procurement Service started the bidding process in December last year and Hanwha competed against Korea Aerospace...
French cosmetics brand Sephora has said it will gradually exit from South Korea after failing to gain a share in competition with dominant local rival CJ Olive Young. In a statement posted on its social media accounts Tuesday, Sephora's Korean unit announced its plan for a phased withdrawal starti...
The government said Wednesday it has imposed fines totaling 10.3 billion won ($7.6 million) on 10 foreign and domestic automakers for selling cars with inadequate safety standards. Of those, nine were foreign companies, including Volkswagen Group Korea, Mercedes-Benz Korea, Ford Sales & Service Ko...
Samsung Electronics and LG Electronics are seen to be renewing their decadeslong competition in the home appliance market with their first all-in-one washer-dryer machines, which combined the two full-capacity laundry machines to complete the entire laundry process in one step. Both Samsung and LG...
Hyundai Motor Group has been winning dozens of awards with its diverse lineup of electric vehicles across the globe and is looking to continue adding more to its trophy collection. According to the South Korean auto conglomerate on Tuesday, the EVs of its three brands -- Hyundai Motor Company, Kia...
CJ CheilJedang said Tuesday it participated in the 2024 Natural Products Expo West, the world's largest trade event in the food industry, to showcase its key products and K-food innovation overall. Held in Anaheim, California, the expo marked its 42nd anniversary, attracting around 3,000 companies...
Hyundai Motor, South Korea's leading automaker, said Tuesday it has been named an official sponsor of the US Major League Baseball (MLB) World Tour Seoul Series set to open in South Korea this week. The tour features regular MLB season games played in various countries, with this year's tour stopp...
The South Korean antitrust regulator said Tuesday it approved US software company Ansys, Inc.'s acquisition of a minority stake in Safe Parent, Inc. which owns the world's largest crash test dummy manufacturer of Humanetics. Ansys, which develops engineering simulation software, intends to purchas...
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