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Coupang posts 20% quarterly sales growth, driven by strong performance in Taiwan

Coupang posted 12.8 trillion won ($8.87 billion) in sales for the third quarter on Wednesday, up 20 percent from a year earlier, driven by strong growth in Taiwan where revenue jumped 31 percent. The country’s largest e-commerce platform operator has now achieved 20 percent quarterly sales growth for three consecutive quarters, underscoring its robust performance both at home and abroad. Contributing factors include Coupang’s continued investment in enhancing its logistics and fulfillment systems, as well as improving convenience for online vendors on its platform. The company’s physical expansion of logistics facilities in Taiwan, where it offers its Rocket Delivery service, also played a key role in boosting sales in the country. Founder and CEO Bom Kim said during a conference call that Coupang increased the number of vendors and brands participating in Rocket Delivery during the past quarter, but added that most of the products in the service’s catalog are still not supplied directly by their producers. “There’s still a tremendous runway ahead. Many products in our first-

Nov 5, 2025By Ko Dong-hwan
Coupang posts 20% quarterly sales growth, driven by strong performance in Taiwan

1 killed, 3 injured as toxic gas leaked at POSCO plant

One worker was killed and three others were injured as suspected toxic gas leaked at a POSCO factory in the southeastern city of Pohang, North Gyeongsang Province, on Wednesday, police said. The accident occurred at around 9 a.m. when subcontracted workers inhaled unidentified gas believed to be hazardous while preparing for equipment repairs at one of the plant's production lines, according to police and company officials. Four workers were taken to a nearby hospital after complaining of breathing difficulties, but one worker in his 50s died on the way. The remaining three were reported to be conscious and in stable condition. Initial reports suggested the gas could be hydrogen chloride fumes or nitric acid gas, but police and POSCO officials said further investigation is needed to identify the exact substance. POSCO immediately halted operations in the area before ventilating the site and carrying out safety inspections. Police plan to investigate whether proper safety measures were in place at the time of the accident and to determine the exact cause of the incident.

Nov 5, 2025By Yonhap
1 killed, 3 injured as toxic gas leaked at POSCO plant

Market cap of top 10 S. Korean firms doubles through October

The combined market capitalization of South Korea's top 10 listed firms has more than doubled through October this year, data showed Wednesday, with the growth outpacing their counterparts in other major economies. The top 10 companies, including Samsung Electronics and SK hynix, saw their combined market cap reach 1,553 trillion won ($1.09 trillion) as of the end of October, compared with 762 trillion won tallied at the final trading session of 2024, according to industry tracker CEO Score. Doosan Enerbility, a major South Korean plant builder, posted the sharpest gain, with its market cap rising more than fivefold from 11.2 trillion won to 56.8 trillion won over the period. The market cap of Samsung Electronics doubled to 636.4 trillion won, and SK hynix also logged a threefold increase to 407 trillion won over the first 10 months of 2025, the report showed. South Korea outpaced other major countries in terms of the growth in the market cap of the top 10 listed firms. Taiwan ranked second with a combined market cap of 2,480 trillion won for its leading players as of the end of October,

Nov 5, 2025By Yonhap
Market cap of top 10 S. Korean firms doubles through October

Tving enters Japanese streaming market in partnership with Disney+

Tving, the streaming platform of content giant CJ ENM, said Tuesday it has partnered with global streamer Disney+ to enter the Japanese streaming market as part of its global expansion. Under the agreement, Disney+ will launch "Tving Collection on Disney+" on its Japanese platform starting Wednesday, a dedicated brand window featuring Tving's content, according to the company. Tving noted it marks the first time Disney+, the subscription-based over-the-top (OTT) service operated by Walt Disney Co., has opened a dedicated section for content from a local streamer in the Asia-Pacific region. Disney+ Japan will feature Tving's original series and CJ ENM's global hits for Japanese viewers. Tving said Disney+ has built strong consumer confidence and a loyal fan base in Japan, a key market where global streaming platforms are fiercely competing. Through the partnership, Disney+ will combine its blockbuster global and local titles with Korean content, which continues to gain explosive popularity, to strengthen its competitiveness in Japan. Tving, in turn, will boost its recognition as a leading K

Nov 4, 2025By Yonhap
Tving enters Japanese streaming market in partnership with Disney+

KT decides to replace USIM cards for all customers

Mobile carrier KT will provide free universal subscriber identity modules (USIMs) for all of its customers, in response to a string of unauthorized mobile payment fraud cases that exploited rogue cellular base stations and compromised user information. CEO Kim Young-shub will also not seek a second term and will step down when his current term ends in March next year. KT’s board has officially launched the process of selecting his successor by forming a recommendation committee, which plans to finalize a single candidate within this year. The telecom company said in a press release that it will offer free USIMs to all customers who wish for a replacement, in an effort to ease growing security concerns following recent incidents. Starting at 9 a.m. on Wednesday, KT will begin accepting applications for the free USIM replacement service through its official website. Customers who wish to replace their USIM cards can make a reservation online and visit KT branches to receive a new card. To prevent an initial surge in requests for replacement, KT will first provide the replacement service

Nov 4, 2025By Nam Hyun-woo
KT decides to replace USIM cards for all customers

Kkanbu Chicken adopts 1-hour rule for table used by Nvidia CEO

A Kkanbu Chicken restaurant has introduced a one-hour time limit for the table used by Nvidia CEO Jensen Huang during his casual dinner with Samsung Electronics Executive Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun last week. “The table occupied by Jensen Huang can be used for only an hour,” said a notice posted in front of the store near Samseong Station in southern Seoul. Since Huang's visit on Thursday, crowds have lined up in front of the store even before opening hours, hoping to enjoy fried chicken at the same table once used by Huang and the Korean business leaders. The restaurant, however, does not accept reservations for the table. Their 70-minute gathering generated massive public buzz, as it is rare to see global business leaders make an appearance at such a casual dining restaurant in such a busy part of Seoul. Huang also left his signature for the restaurant that reads, “Jensen Huang Nvidia was here.” Last week, the Nvidia chief visited Korea for the first time in 15 years to attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit

Nov 4, 2025By Lee Min-hyung
Kkanbu Chicken adopts 1-hour rule for table used by Nvidia CEO

LG Chem partners with China's largest energy firm for battery tech

LG Chem, a leading chemical and battery manufacturer, has entered into a partnership with China-based Sinopec to codevelop materials for batteries, underscoring its commitment to the industry as global demand surges from electric vehicles (EVs) and artificial intelligence technologies. The LG Group subsidiary said on Tuesday that it signed the agreement with China’s largest energy and chemical company last Thursday at LG Twin Tower in Seoul. According to LG, Sinopec is engaged in petroleum and gas exploration and development, refining, chemicals and new materials businesses. LG Chem Vice Chairman and CEO Shin Hak-cheol and Sinopec Chairman Hou Qijun attended the signing ceremony. Under the deal, the two companies will jointly research anode and cathode materials for sodium-ion batteries (SIBs), establish a stable supply chain and introduce the materials to the market at a competitive price. The partnership was established in recognition of SIBs key advantages over the lithium-ion batteries that currently dominate the global market. According to LG Chem, SIBs offer greater resource ava

Nov 4, 2025By Ko Dong-hwan
LG Chem partners with China's largest energy firm for battery tech

Foreign carmakers turn to direct online sales, bypassing dealerships

A growing number of imported carmakers are shifting to direct online sales, a strategy that helps build customer trust in pricing and reduces operational costs, industry officials said Tuesday. Tesla has set a successful example under its new sales paradigm by selling exclusively online, avoiding the costs of dealership affiliations. This stands in sharp contrast to the traditional dealership-reliant strategies used by most other foreign automakers, including Mercedes-Benz Korea and BMW Korea. Tesla, which has no dealership network in Korea, operates only a few showrooms for offline promotional purposes. Nevertheless, its Model Y electric SUV ranked as the nation’s best-selling electric vehicle (EV) during the first nine months of this year, outselling rival models from Hyundai Motor and Kia by a wide margin. One of the key advantages of direct online sales is that carmakers can improve price transparency. Under the current dealership model, customers often pay different prices for the same vehicle, depending on each dealer’s promotions. This does little to enhance their brand value

Nov 4, 2025By Lee Min-hyung
Foreign carmakers turn to direct online sales, bypassing dealerships

Daesung Group holds forum to highlight bio innovation in AI era

Daesung Group, an energy and environment conglomerate, held the 2025 Daesung Haegang Science Forum in Seoul on Tuesday, highlighting the latest biotechnology innovations in the era of artificial intelligence (AI). Marking its eighth edition this year, the annual forum explored the theme “Bio-Innovation in the AI Era,” bringing together experts and industry leaders to share their insights on the convergence of AI and biotechnology and their future development trajectory. At the forum, Lee Sang-yup, vice president for research at the Korea Advanced Institute of Science and Technology, delivered a keynote speech under the title “AI for Biological Engineering.” He presented practical strategies and case studies on how AI is being utilized in biological engineering research and development. University of Toronto professor Philip Kim followed with a presentation on protein engineering with AI, while Kakao Healthcare CEO Hwang Hee discussed how AI and big data are driving innovation in digital health care. “The convergence of AI and biotechnology is expected to bring innovative and di

Nov 4, 2025By Nam Hyun-woo
Daesung Group holds forum to highlight bio innovation in AI era

Paris Baguette global head promoted to SPC vice chairman

Major food group SPC on Tuesday announced a leadership reshuffle across its headquarters and subsidiaries, promoting its President Hur Jin-soo to vice chairman. The conglomerate, run by the owner family headed by Chairman Hur Young-in, also promoted Vice President Hur Hee-soo to president. Paris Croissant — a subsidiary operating the global bakery franchise brand Paris Baguette — and other bakery manufacturing affiliates have also appointed new CEOs. Hur Jin‑soo, the eldest of the chairman’s two sons, is expected to further cement his pivotal role in SPC. He will serve as chief strategy officer of Paris Croissant and head of the company’s Global Business Unit. Paris Baguette is the group’s flagship business, having expanded its global presence to 15 countries with 670 stores — including 340 in China and 240 in the United States. He also currently leads the group’s Transformation Office, an internal watchdog committee launched in July. The committee oversees workplace safety and ensures compliance with labor regulations. “The new vice chairman will continue to strengthen

Nov 4, 2025By Ko Dong-hwan
Paris Baguette global head promoted to SPC vice chairman
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