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Nike appoints digital veteran to lead Korean operations
Nike Korea said Friday it has appointed Chase Taylor, a 15-year company veteran known for his digital marketing expertise, as its new general manager. The move is aimed at strengthening Nike’s brand value in South Korea and deepening engagement with local consumers. Since joining Nike as a digital marketing coordinator, Taylor has held various roles across digital commerce, marketing, strategy and marketplace development. He later served as senior director of the North American marketplace, wher
Nov. 14, 2025 -
Kia completes 1st PBV production plant in Hwaseong
Kia unveiled its newly built EVO Plant East — Hyundai Motor Group’s first factory dedicated to platform beyond vehicle, or PBV — in Hwaseong, Gyeonggi Province on Friday, signifying the automaker’s emphasis on the electrification of light commercial vehicles. Kia, Korea’s second-largest automaker behind its affiliate Hyundai Motor, held a completion ceremony for the EVO Plant East and a groundbreaking ceremony for the EVO Plant West at Kia Autoland Hwaseong on the same day. According to Kia, the
Nov. 14, 2025 -
Samsung ups ante in OLEDoS race against Japan
As the extended reality (XR) industry accelerates globally, competition is heating up among South Korea, Japan and China over next-generation display technologies -- particularly OLED-on-Silicon (OLEDoS) panels, a key component for ultra-high-resolution headsets. Japan currently dominates the OLEDoS market, with Sony leading the global supply. However, China is rapidly scaling up production through aggressive state-backed investments. Now, Korea's Samsung Display is making a major move, beginnin
Nov. 14, 2025 -
Korean won jumps following authoritative intervention
The South Korean won experienced a sharp gain against the dollar in early trading Friday, following a verbal intervention by the local foreign exchange authorities. The won was quoted at 1,458.38 per dollar as of 11 a.m. Friday, gaining nearly 8 won from the close of after-hours trading. The won began trading at 1,471.9 per dollar and further depreciated to 1,474.9, pressured by US-driven risk-off sentiment and foreign investors’ net selling in the local stock market. However, following the verb
Nov. 14, 2025 -
LX Pantos, Sinotrans launch JV to target China’s e-commerce cargo
Korean logistics company LX Pantos on Thursday signed an agreement with China’s largest logistics firm Sinotrans to form a joint venture aimed at capturing surging demand for sea-air multimodal transport of Chinese e-commerce cargo. The new company, FutureLinks, will be 60 percent owned by LX Pantos and 40 percent by Sinotrans. The venture will build a transshipment network centered on the Incheon-Weihai route, a key logistics corridor between Korea and China, and offer end-to-end services to ma
Nov. 14, 2025 -
CJ Logistics powers 95-year legacy with tech innovation
CJ Logistics, South Korea’s largest logistics company, is building on its 95-year legacy to transform into a next-generation global leader within the next five years, with advanced technological innovation at its core. At the company’s 95th anniversary ceremony on Thursday, CEO Shin Young-soo outlined CJ Logistics’ broader global ambitions focused on delivering consumer value. “Our mission as a logistics company is to deliver anything, anytime, anywhere consumers demand,” Shin said. “As we appro
Nov. 14, 2025 -
Economy recovering from H1 downturn despite lingering uncertainty: finance ministry
The South Korean economy is recovering from a downturn in the first half of the year, supported by stronger domestic demand and a rebound in the semiconductor sector, despite lingering uncertainties, the finance ministry said Friday. The Ministry of Economy and Finance made the assessment in its monthly economic report, the Green Book, striking an upbeat tone for the second consecutive month. The ministry had mentioned "recovery" for the first time in its previous edition. "Recently, our economy
Nov. 14, 2025 -
Exports of consumer goods set to hit record high on K-culture craze: KOTRA
South Korea's exports of consumer goods are widely expected to reach a new high this year on the back of soaring global popularity of Korean culture, the chief of the Korea Trade-Investment Promotion Agency has said, pledging stepped up efforts to help diversify overseas markets and export items. Outbound shipments of consumer goods have increased 6.6 percent from a year earlier in the first nine months of the year, reaching an all-time high for the January-September period, according to KOTRA P
Nov. 14, 2025 -
Govt. to prepare FX stabilization measures with NPS, exporters: finance chief
The government is preparing to devise measures to stabilize the foreign exchange market in consultation with the National Pension Service and major exporters, the country's finance chief said Friday, as the South Korean won has continued to weaken against the US dollar. Following the remarks by Finance Minister Koo Yun-cheol on the need to actively mobilize all available policy tools, the local currency, which had fallen to a seven-month low the previous day, rebounded sharply, rising nearly 1 p
Nov. 14, 2025 -
Seoul shares open sharply lower on tech losses, US rate cut uncertainties
South Korean stocks opened sharply lower Friday, following declines on Wall Street led by tech shares, while investors grew pessimistic about a December rate cut in the United States. The benchmark Korea Composite Stock Price Index fell 90.5 points, or 2.17 percent, to 4,080.13 in the first 15 minutes of trading. Overnight, major US stock indexes closed sharply lower as investors continued to sell off shares in the artificial intelligence sector over valuation concerns. The Dow Jones Industrial
Nov. 14, 2025 -
Import prices rise by most in 9 months in Oct. on weaker won: BOK
Import prices increased at the fastest clip in nine months in October, despite falling global oil prices, due mainly to a weaker Korean won, central bank data showed Friday. The import price index climbed 1.9 percent from a month earlier in October, following a 0.2 percent on-month rise in September, according to preliminary data from the Bank of Korea. It marks the sharpest on-month increase since January, when the index jumped 2.2 percent, as well as the fourth consecutive month of rise. From
Nov. 14, 2025 -
LG, Samsung discuss automotive industry partnerships with Mercedes-Benz
Top executives of South Korea's LG and Samsung groups on Thursday held meetings with Mercedes-Benz Group AG to discuss cooperation in automotive parts for advanced cars, including electric vehicles. Cho Joo-wan, chief executive officer of LG Electronics Inc., met with Mercedes-Benz Group Chairman Ola Kallenius in Seoul to share visions on the future mobility industry led by EVs, the business group said in a release. Three other LG affiliate leaders -- Kim Dong-myung of LG Energy Solution Ltd., J
Nov. 13, 2025 -
LG Chem wins 3.76 tln-won EV cathode material supply deal from US
LG Chem Ltd., South Korea's leading chemical company, said Thursday it has won a major electric vehicle battery cathode material supply deal from the United States. The contract is valued at 3.76 trillion won ($2.57 billion) and covers the period from Saturday through July 31, 2029, the company said in a regulatory filing. It did not disclose the buyer, citing confidentiality. The contract marks one of the largest such deals for the company despite a temporary slowdown in global EV demand. LG Ch
Nov. 13, 2025 -
Seoul shares up for 4th day on end to US govt. shutdown
Seoul shares closed higher Thursday, extending their winning streak to a fourth session, after US President Donald Trump signed a funding bill to end the record-long US government shutdown. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 20.24 points, or 0.49 percent, to close at 4,170.63. Trading volume was moderate at 421.75 million shares worth 17.36 trillion won ($11.8 billion), with gainers outnumbering decliners 475 to 383. Foreign investors
Nov. 13, 2025 -
German Innovation Days aim to boost Korea ties
The Embassy of the Federal Republic of Germany in Seoul, in cooperation with the Herald Media Group, will host German Innovation Days 2025, a monthlong series of events from Monday to Dec. 16 aimed at promoting Germany’s innovative capabilities and deepening bilateral cooperation with Korea. The initiative will bring together German and Korean experts from diverse sectors — including science, technology, business, academia and culture — to foster dialogue on pressing global challenges and emergi
Nov. 13, 2025