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LG Chem, Sinopec join hands to develop next-generation battery materials
Korea’s leading chemical manufacturer, LG Chem, said Tuesday it had partnered with Sinopec, China's largest comprehensive energy and chemical company, to develop next-generation battery materials. Under the agreement, both companies plan to jointly develop anode materials and cathode materials — key components for sodium-ion batteries — and to build a stable supply chain and secure cost competitiveness. According to LG, sodium-ion batteries have advantages such as abundant raw materials, excelle
Nov. 4, 2025 -
Samsung to appeal $191.4m jury verdict in US OLED patent dispute
Samsung Electronics Co. said Tuesday it will appeal a US federal jury verdict ordering the company to pay $191.4 million in damages over alleged infringement of organic light-emitting diode display patents owned by an Irish display firm. The verdict, delivered by a jury in Marshall, Texas, on Monday, found that Samsung Electronics' smartphones, televisions, computers and wearable devices infringed two patents related to OLED display technology held by Pictiva Displays. Samsung Electronics denied
Nov. 4, 2025 -
Hanwha Aerospace reports record Q3 profit on strong defense exports
Hanwha Aerospace, Korea’s leading defense company, reported a record third-quarter operating profit of 856.4 billion won ($600 million) on Monday, underscoring the firm’s growing global presence in the defense and shipbuilding sectors. Operating profit surged 79 percent from a year earlier, while sales jumped 147 percent to 6.49 trillion won, marking the highest quarterly performance in the company’s history. The robust earnings were led by Hanwha’s land defense business and its shipbuilding uni
Nov. 3, 2025 -
Korea starts exports of beef, pork to Singapore
South Korea has officially begun exporting beef and pork from Jeju Island to Singapore, following an agreement reached during the Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province, last week. The Ministry of Agriculture, Food and Rural Affairs said Sunday that exports of frozen pork and beef can begin immediately, marking a milestone for Korean livestock products. The decision came after Singaporean authorities inspected slaughterhouses and processing facilities on
Nov. 3, 2025 -
Samyang revives beef tallow-fried ramyeon in flavor comeback
Samyang Foods is bringing back beef tallow-based ramyeon for the first time in 36 years, returning to its original flavor philosophy with an ingredient long set aside in the wake of past industry stigma. At a press conference Monday, the Buldak maker unveiled Samyang 1963, a new premium product named for the year it introduced Korea’s first instant ramyeon during the country’s postwar recovery. The launch comes more than three decades after Samyang Foods was accused in 1989 of using inedible-gra
Nov. 3, 2025 -
Hana Financial backs race for autism awareness
Hana Financial Group took part in the 2025 Autism Race, a running campaign aimed at promoting autism awareness, as part of its corporate social responsibility efforts, the financial services provider said Monday. The Autism Race is a running event hosted by the Autism Society of Korea to improve public understanding of autism and promote a more inclusive community. Hana Financial has been officially sponsoring the race for six consecutive years since 2020. This year, some 300 Hana Financial empl
Nov. 3, 2025 -
Korea’s big four banks ride high on record Q3 profits
South Korea’s four major banking groups — KB, Shinhan, Hana and Woori — posted record earnings in the July-September period, with their combined net profit for the year nearing 16 trillion won ($12 billion). Their cumulative net profit reached 15.81 trillion won as of September, up 10.4 percent from a year earlier, while third-quarter profit rose 10.2 percent on-year to 5.48 trillion won, marking all-time highs for both quarterly and year-to-date figures. KB led the pack with a net profit of 1.6
Nov. 3, 2025 -
AIA Korea raises W100m for cancer community
AIA Korea extended its sponsorship of the JTBC Seoul Marathon for a third consecutive year, doubling its donation from last year to support the cancer community and stepping up efforts to promote well-being across Korean society. Held Sunday in Seoul, the JTBC Seoul Marathon is one of the city’s most celebrated races, drawing more than 30,000 participants this year. At the event, AIA Korea, the local life insurance subsidiary of Hong Kong-based AIA Group, operated an expanded booth and showcased
Nov. 3, 2025 -
K-beauty pushes M&A scene into high gear
Korea’s beauty industry is putting a fresh sheen on the corporate dealmaking landscape, drawing in domestic and global capital chasing the country’s most glamorous rising export. According to US-based consulting firm McKinsey & Company, mergers and acquisitions in Korea’s beauty sector totaled $2.32 billion between January and September, more than double the food and beverage sector’s $977 million. The figures mark a sharp reversal from 2022, when food-related transactions were nearly eight time
Nov. 3, 2025 -
Local chain Frank Burger fined for unfair biz practices
Frank F&B Corp., operator of the handcrafted burger franchise Frank Burger, was fined for engaging in unfair practices against its franchisees, the antitrust regulator said Sunday. The Fair Trade Commission (FTC) said it imposed a fine of 641 million won ($448,032), along with corrective actions, for the company's violations of the Franchise Business Act. The company is accused of distributing franchise brochures containing false or exaggerated projected earnings to potential franchisees for abo
Nov. 2, 2025 -
From hype to design: How blockchain has entered its age of realism
The blockchain industry, once driven by speculative manias and technological zeal, is entering a more sober phase. From Switzerland’s Crypto Valley to Seoul’s policy committees, regulators and developers are converging on one conclusion: Blockchain’s future will depend less on code than on the systems of trust, incentives and education behind it. “Blockchain systems are socioeconomic in nature,” said Claudio J. Tessone, professor of blockchain and distributed ledger technologies at the Universit
Nov. 2, 2025 -
Hana Financial Group honored for elderly care support
Hana Financial Group on Friday received a plaque of appreciation from the Sisters of St. Paul of Chartres for its continued support of older adults in need. The award ceremony took place at Hana’s headquarters in Myeong-dong, central Seoul. Since 2017, Hana has supported Saint Paul Nursing Home, a care facility operated by the religious order for older people living with dementia and other age-related illnesses. The group has donated a wide range of equipment and supplies, including electric bed
Nov. 2, 2025 -
Exports up for 5th month at $59.57b in Oct. on robust chip demand
South Korea's exports grew 3.6 percent from a year earlier in October, rising for a fifth consecutive month, despite a slide in shipments to the United States, thanks to strong demand for semiconductors, government data showed Saturday. Outbound shipments came to $59.57 billion last month, according to data compiled by the Ministry of Trade, Industry and Resources. It marked the fifth consecutive month since June the country's monthly exports posted an on-year gain. Imports decreased 1.5 percent
Nov. 1, 2025 -
Industry minister discusses economic cooperation with Japan, Vietnam during APEC gathering
Industry Minister Kim Jung-kwan on Friday held bilateral meetings with his counterparts from Japan and Vietnam during the Asia-Pacific Economic Cooperation gathering here and explored ways to enhance South Korea's economic ties with the countries amid challenges in global trade, Kim's office said. Kim met with Japanese Minister of Economy, Trade and Industry Akazawa Ryosei in the southeastern city of Gyeongju and agreed to make joint efforts to strengthen ties between Seoul and Tokyo in advanced
Oct. 31, 2025 -
At least two bidders join race for Homeplus takeover
At least two bidders have joined the race to acquire South Korean hypermarket chain Homeplus, the company said Friday. The announcement came as the retailer confirmed it had received letters of intent from prospective buyers on the final day of its preliminary bidding deadline. While the company declined to disclose the names of the bidders, industry sources indicate that at least two parties submitted letters of intent, one of which is reportedly Harex InfoTech, a Korean firm specializing in AI
Oct. 31, 2025