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LIG Nex1 honors Thai veterans of Korean War

LIG Group Chairman Koo Bon-sang, fifth from right, along with executives and employees of LIG Nex1, poses with representatives of the Thai-Korean War Veterans Association during a courtesy visit to the organization in Thailand, Monday (local time). Thailand sent 6,326 troops to fight in the 1950-53 Korean War, with 136 killed in action and about 1,200 wounded. The Korean defense company is participating in Defense & Security 2025 in Bangkok. Courtesy of LIG Nex1

Nov 11, 2025By Kang Seung-woo
LIG Nex1 honors Thai veterans of Korean War

InterviewK-beauty won’t last without brand philosophy, varied distribution: Taga founder

Taga’s founder and CEO believes the global popularity of Korean cosmetic products isn’t sustainable, noting that most brands lack a clear philosophy to appeal to international consumers. In addition, Korea’s retail distribution channels are concentrated on just a few major platforms such as CJ Olive Young and Coupang, offering limited choices for both consumers and sellers. Seo Dong-hee completed Taga’s cosmetics lineup in November 2023 and launched sales last year. The Seoul-based company now ships to 19 countries, with a 20th on the way. Despite his short career, he has quickly developed a talent for appealing to international consumers, guided by a simple philosophy: Everything Taga makes must eventually return to the earth in a biodegradable state. For Seo, it is hard to find an active Korean beauty brand with a philosophy as clear and compelling as that of Taga’s. The 48-year-old CEO said most Korean brands remain caught in a marketing skirmish, relying on specific ingredients and promoting them as rejuvenating elixirs. While that strategy may succeed domestically, he wa

Nov 11, 2025By Ko Dong-hwan
K-beauty won’t last without brand philosophy, varied distribution: Taga founder

Hyundai Motor to provide electric buses for Bali's eco-friendly transit

Hyundai Motor said Tuesday it has been selected as the supplier for an Indonesian electric bus project on the resort island of Bali. The company said its quality competitiveness, after-sales service program and experience in eco-friendly public projects were recognized by the project organizers. Under the agreement, Hyundai Motor will provide 10 County Electric minibuses to Bali, which plans to operate the vehicles as part of its public transportation network. In April, Korea's Ministry of Climate, Energy and Environment signed a memorandum of understanding (MOU) with the Indonesian government to collaborate on transforming Bali's transportation system. As part of the initiative, the Global Green Growth Institute (GGGI) led the bidding process for the electric bus supply project in August. "It is meaningful that we will provide electric buses to Bali, a destination visited by many tourists from around the world," Kim Sung-nam, head of Hyundai Motor's Asia-Pacific regional headquarters, said. "We plan to help build environmentally friendly transportation systems in major cities across Indo

Nov 11, 2025By Yonhap
Hyundai Motor to provide electric buses for Bali's eco-friendly transit

Court declares WeMakePrice bankrupt

A Seoul court on Monday announced the liquidation of e-commerce platform operator WeMakePrice, two months after terminating the company's rehabilitation proceedings. WeMakePrice, along with its then sister company TMON, entered court-led rehabilitation proceedings in July last year, after they struggled to make payments to vendors due to liquidity issues. The Seoul Bankruptcy Court in September this year terminated the proceedings for WeMakePrice as it failed to submit a rehabilitation plan. According to industry sources, the bankruptcy of WeMakePrice will affect some 108,000 people and their financial damage is estimated at 600 billion won (US$413 million). The company's total assets were tallied at 48.6 billion won, while its debts reached 446 billion won. The value of its ongoing concern was set at 223 billion won, while its liquidation value stood at 13.4 billion won. WeMakePrice has sought for a swift acquisition to pay off its liabilities but has struggled to find a buyer. Meanwhile, TMON was acquired by grocery delivery platform Oasis Corp. in June after the court approved its rehabi

Nov 10, 2025By Yonhap
Court declares WeMakePrice bankrupt

HYBE shifts to red in Q3 on N. American restructuring, IP investment

Korea's K-pop powerhouse HYBE on Monday reported a net loss for its third quarter, reversing a year-ago profit as the company absorbed one-off costs related to the restructuring of its North American operations and stepped up investments in global artist intellectual property (IP). The entertainment company posted a net loss of 52 billion won ($35.8 million) for the July-September period, a sharp turn from the 1.4 billion-won profit recorded a year prior, according to a regulatory filing. The company also recorded an operating loss of 42.2 billion won, compared with an operating profit of 54.2 billion won in the previous year. Sales rose 37.8 percent to 727.2 billion won. In a shareholder letter released Monday afternoon, HYBE CEO Lee Jae-sang attributed the profitability decline to temporary, strategic factors, specifically citing one-off costs incurred during the restructuring of the North American business and proactive investment in expanding global artist IP. "The combination of the two factors caused the operating profit margin to fall by approximately 12 percentage points during t

Nov 10, 2025By Yonhap
HYBE shifts to red in Q3 on N. American restructuring, IP investment

Korea Aerospace to upgrade KF-16 simulators under ties with Lockheed Martin

Korea Aerospace Industries (KAI), Korea's sole aircraft manufacturer, said Monday it has been selected by U.S. defense giant Lockheed Martin as a partner to upgrade simulators for the Air Force's KF-16 fighter jets. KAI will upgrade nine KF-16 simulators previously delivered to the Air Force to the configuration of the latest F-16 Viper under a six-year contract, the Korean company said in a release. "Based on our strategic relationship with Lockheed Martin, we will contribute to modernizing the Korean Air Force's training system and improving safety," a KAI official said. In June, KAI signed a memorandum of understanding (MOU) with Lockheed Martin to expand their strategic partnership into emerging areas of the global defense and aerospace industries. KAI and Lockheed Martin have maintained a longstanding partnership that began with the licensed production of the F-16 fighter jet in the 1990s and later led to the co-development of the T-50 supersonic trainer aircraft.

Nov 10, 2025By Yonhap
Korea Aerospace to upgrade KF-16 simulators under ties with Lockheed Martin

GKL hosts tourist event in DMZ

Grand Korea Leisure (GKL), the state-run operator of Seven Luck Casino, said Friday that it organized a tourism event at the Demilitarized Zone (DMZ) in collaboration with the Korea Railroad Corp., Gyeonggi Tourism Organization and Yeoncheon County Office. The initiative aims to promote awareness of Korea’s divided history and the value of peace among international visitors to Seven Luck Casino, while also supporting tourism in areas of Gyeonggi Province facing population decline. Paju, Gyeonggi Province, is a major tourist attraction that allows visitors to witness the remnants of Korea’s division firsthand. It has become a popular destination for both domestic and international travelers interested in history and peace. Participants in the program boarded the DMZ Peace Train, received a military briefing at Dorasan Observatory, looked across the DMZ into North Korean territory and visited Jaein Falls, a UNESCO Global Geopark site, as part of a program combining themes of peace, security and ecology. “The event is expected to raise the brand value of DMZ Peace Tourism among intern

Nov 10, 2025
GKL hosts tourist event in DMZ

LS Electric wins $91.5 mil. power system contract for US data center

LS Electric has clinched a 132.9 billion won ($91.5 million) deal to supply power systems for a hyperscale artificial intelligence (AI) data center in the United States, the company said Monday. The deal involves providing power distribution switchboards and transformers for a data center operated by a tech company in Tennessee. LS Electric will supply the equipment for the data center’s electrical rooms and mechanical facilities, which are designated for AI and machine learning servers, by April next year. The company did not disclose the client, but noted that the two sides had already signed a 310 billion won contract to supply power equipment between late last year and early this year. LS Electric said the latest deal reflects its proven execution capabilities in the ongoing project, adding that it expects the partnership to continue going forward. “The latest deal is significant as it demonstrates LS Electric’s ability to supply comprehensive power equipment for a hyperscale data center in the U.S., which lies at the center of global AI investment,” an LS Electric official s

Nov 10, 2025By Nam Hyun-woo
LS Electric wins $91.5 mil. power system contract for US data center

LCCs in tight race to secure Jakarta route

Local low-cost carriers (LCCs) are rushing to secure the lucrative Incheon–Jakarta route, which has opened to new entrants after Korean Air relinquished the rights following its acquisition of Asiana Airlines. Jeju Air and Eastar Jet are considered the leading contenders for the route, as both are looking for new revenue sources to reduce their heavy dependence on short-haul flights to nearby Asian countries, such as Japan. Jin Air, one of the three major LCCs along with Jeju Air and Eastar Jet, is restricted from bidding for the route, as it is a subsidiary of Korean Air. The company is now preparing to launch a combined LCC with Air Busan and Air Seoul, two LCC affiliates of Asiana. Jakarta, the capital city of Indonesia, has seen a growing number of major Korean companies expand their investments, thanks to the country’s geographic proximity to key Asian economies such as China, Taiwan and Japan. Data also show that demand for tourism between Korea and Indonesia has been rapidly increasing over the past few years. According to data from Indonesia’s Ministry of Tourism and Creativ

Nov 10, 2025By Lee Min-hyung
LCCs in tight race to secure Jakarta route

China suspends sanctions on Hanwha Ocean’s US subsidiaries

China has decided to temporarily lift sanctions for one year on five U.S. subsidiaries of Hanwha Ocean, following an agreement with the United States to avoid further escalation in their trade conflict. China’s Ministry of Commerce announced Monday that restrictions on Hanwha Shipping, Hanwha Philly Shipyard, Hanwha Ocean USA International, Hanwha Shipping Holdings and HS USA Holdings would be suspended for the next 12 months. The move follows the U.S. decision to pause its Section 301 investigation into China’s maritime, logistics and shipbuilding industries for one year. The suspension of the earlier sanctions, imposed on Oct. 14, took effect immediately. In response, Hanwha Ocean issued a statement welcoming the Chinese authority’s decision. “We hope to further develop our relationship with Chinese business partners following the latest suspension of the sanctions,” Hanwha Ocean said in a statement. Last month, China placed the five Hanwha U.S. subsidiaries on a sanctions list prohibiting Chinese entities from engaging in transactions with them. The move was in retaliation for

Nov 10, 2025By Lee Min-hyung
China suspends sanctions on Hanwha Ocean’s US subsidiaries
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