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Doosan on track for growth as portfolio aligns with AI industry

Doosan Group is expected to post strong growth as its key businesses are increasingly aligned with the core supply chain of the artificial intelligence (AI) industry. According to market tracker FnGuide, the consensus estimate among brokerages for Doosan Corp.'s second-quarter earnings is 5.5 trillion won ($3.62 billion) in sales and 465 billion won in operating profit, up 3 percent and 30 percent year-on-year, respectively. Doosan Corp. is the holding company of the conglomerate but is gaining market attention with its own electromaterials business, which supplies copper clad laminates (CCL) to chipmakers. CCL is a key material used in advanced chip substrates and printed circuit boards found in virtually all electronic devices. As AI servers and high-performance computing systems require fast processing of massive amounts of data, demand is growing for high-frequency, low-loss CCLs. In the first quarter of this year, the business group’s sales reached 617.3 billion won, growing 53.2 percent year-on-year to set a new record. Operating profit soared 59.9 percent year-on-year to stand a

Jun 19, 2026By Nam Hyun-woo
Doosan on track for growth as portfolio aligns with AI industry

KHNP CEO reviews Dukovany project in Czech Republic

State-run Korea Hydro & Nuclear Power (KHNP) CEO Kim Hoe-chun met with Czech industry officials on Thursday (local time) to review progress on the Dukovany Nuclear Power Station project, marking one year since the two sides signed a landmark construction contract. During his two-day visit to the Czech Republic on Wednesday and Thursday, the KHNP CEO joined Industry Minister Kim Jung-kwan, Czech Deputy Prime Minister and Minister of Industry and Trade Karel Havlicek, and key engineering partners for a Dukovany Steering Committee meeting to review the project's progress. Participants reviewed progress on the project to build two nuclear reactors in the Dukovany region and discussed next steps, focusing on ensuring the project remains on schedule and strengthening bilateral cooperation. On Thursday, KHNP separately hosted a Korea-Czech nuclear industry partnership event in Prague to celebrate the contract’s first anniversary, where Korea Electric Power Corp. Engineering & Construction (KEPCO E&C) and the Czech firm Energoprojekt Praha signed a design support services agreement. "The Dukov

Jun 18, 2026By Lee Gyu-lee
KHNP CEO reviews Dukovany project in Czech Republic

POSCO accelerates low-carbon steel transition with Korea’s largest electric arc furnace

POSCO has completed construction of Korea’s largest electric arc furnace (EAF) at its steelworks in Gwangyang, South Jeolla Province with an annual production capacity of 2.5 million tons, marking a major step in its transition toward low-carbon steel production. The largest single EAF installation in Korea, which began construction in February 2024, is part of the company’s broader strategy to respond to tightening global decarbonization policies and rising demand for low-emission steel products. It was built with about 600 billion won ($392.6 million) in investment, with a cumulative 270,000 workers involved. Unlike traditional blast furnace-basic oxygen furnace operations, which rely on iron ore and coking coal, the EAF uses recycled steel scrap as its primary raw material. POSCO estimates the process can cut carbon emissions by up to 75 percent compared with the average emissions generated by its conventional blast furnace operations between 2017 and 2019. To enhance the quality of EAF-produced steel, the company is advancing its proprietary hot metal-scrap mixing technology, whi

Jun 18, 2026By Lee Gyu-lee
POSCO accelerates low-carbon steel transition with Korea’s largest electric arc furnace

BMW Korea launches iX3 electric SUV with revamped design

BMW Korea has launched its highly-anticipated all-electric SUV — the iX3 — featuring the carmaker’s next-generation Neue Klasse design language, the company said Thursday. The vehicle comes with symbolic significance as the carmaker’s first mass-produced model built on the completely revamped exterior design. The premium electric SUV blends a modern reinterpretation of BMW’s iconic 1960s heritage with futuristic innovations spanning design, digital integration and electrification technology, the carmaker said. Powered by the sixth-generation BMW eDrive system, the new iX3 introduces the brand’s first cylindrical cell battery technology. Utilizing a “cell-to-pack” manufacturing method that integrates battery cells directly into the pack without modules, the vehicle has achieved a 20 percent increase in energy density and a 30 percent boost in driving range. Equipped with a 113.4 kilowatt-hour high-voltage battery, the flagship iX3 50 xDrive model boasts a single-charge driving range of up to 611 kilometers under Korean certification standards. Its 800-volt architecture enabl

Jun 18, 2026By Lee Min-hyung
BMW Korea launches iX3 electric SUV with revamped design

Meritz's funding condition pushes Homeplus closer to bankruptcy

Meritz Financial Group has approved 100 billion won ($66 million) in emergency financing for Homeplus, the struggling retailer currently undergoing court-led rehabilitation, the company said Thursday. However, confusion continues to deepen as the blame game intensifies between MBK Partners, Homeplus' largest shareholder, and Meritz over the latter's conditional loan offer. The approval falls short of the 200 billion won sought by Homeplus. Meritz also stipulated that the funds can only be drawn if MBK Partners, the private equity firm that controls the retailer, and MBK Chairman Michael ByungJu Kim provide legally valid and enforceable joint guarantees, casting doubt on whether the financing will ultimately be disbursed. The conditions have heightened concerns over Homeplus' restructuring prospects, with industry observers warning that the retailer could face bankruptcy if it fails to secure sufficient funding before a key court deadline in July. According to Meritz, its board approved the 100 billion won debtor-in-possession (DIP) loan at a meeting on Wednesday. Rather than being disburs

Jun 18, 2026By Jun Ji-hye
Meritz's funding condition pushes Homeplus closer to bankruptcy

Shin Ramyun leaves spicy impression at major Mexico City festival

Thousands of festivalgoers in Mexico City are getting a taste of Korea's signature spicy noodles as Nongshim ramps up its overseas marketing push at one of the country's largest cultural events. Nongshim said it is operating a Shin Ramyun promotional booth Thursday at Campo Marte 26, a major festival being held in Mexico City from June 11 to July 19. The event combines Mexican food and cultural experiences, art exhibitions, concerts and fan activities, drawing large crowds from Mexico and abroad. At the festival grounds, visitors can sample Shin Ramyun by using instant noodle cooking machines installed at the booth. The company is also distributing hand fans featuring SHIN, the brand's mascot, to help attendees cope with the city's summer heat while strengthening familiarity with the brand. Nongshim said it plans to further expand the visibility of Shin Ramyun by continuously airing promotional videos on large screens installed throughout the festival venue. The company has already seen strong interest from visitors. On Wednesday, the first day Nongshim operated a booth at the festival, mor

Jun 18, 2026By Lee Kyung-min
Shin Ramyun leaves spicy impression at major Mexico City festival

POSCO International launches PT.PAR, strengthening integrated palm oil value chain

POSCO International has completed the postmerger integration of Indonesian palm oil company Sampoerna Agro, which it acquired last year, and unveiled a new corporate identity for the business under its new name, PT Prime Agri Resources (PT.PAR). The company held a launch ceremony for PT.PAR on Wednesday in Jakarta, Indonesia, formalizing the new brand and signaling a strategic milestone in its agribusiness expansion into a fully integrated palm oil value chain spanning seed development, plantation operations and refining. POSCO International secured management control of Sampoerna Agro through an investment of approximately 1.3 trillion won ($854.9 million) carried out from 2025 through early 2026. The acquisition added 128,000 hectares of plantation across Sumatra and Kalimantan, significantly expanding the company’s upstream production base. It also enabled the company to acquire Indonesia’s second-ranked palm seed business, along with its research and development capabilities. The deal expands POSCO International’s palm oil operations beyond plantation management into seed devel

Jun 18, 2026By Lee Gyu-lee
POSCO International launches PT.PAR, strengthening integrated palm oil value chain

Nexen Tire ramps up European logistics footprint

Nexen Tire is expanding its logistics footprint in Europe, opening a larger automated warehouse at its manufacturing plant in Zatec, Czech Republic, as the company seeks to strengthen supply stability and respond more quickly to customer demand across the region. The company said Thursday that the expanded finished-goods warehouse has begun full-scale operations at its European production facility. The investment comes as Nexen Tire increases production capacity in Europe and looks to build a more efficient supply chain for customers across the continent. Nexen Tire launched the first phase of operations at the Czech plant in 2019 and expanded the site with a second production facility in 2024. The plant now has annual production capacity of about 10 million tires, prompting the company to expand its storage and logistics infrastructure to accommodate rising output and growing regional demand. Construction of the expanded warehouse began in October 2024. The new facility has a total floor area of 7,104 square meters and stands 51 meters tall. With the expansion, tire storage capacity increa

Jun 18, 2026By Lee Kyung-min
Nexen Tire ramps up European logistics footprint

Shinsegae seeks to create World Cup magic under giant screen in Seoul

A historic retail district in the heart of the capital is preparing to transform into a massive outdoor stadium this month, as one of Korea's premier luxury department stores pivots from high fashion to international sports. Shinsegae Department Store will host large-scale public viewing events for the Korean national football team's upcoming World Cup matches at Shinsegae Square, a giant digital media facade attached to its flagship store in central Seoul. The company said it will broadcast Korea's matches against Mexico on June 19 and South Africa on June 25 live on the venue's massive outdoor screen. Visitors will be able to watch the games from designated cheering areas and participate in a range of fan events. Shinsegae Square is a 1,300-square-meter media facade installed on the exterior of Shinsegae Department Store's main branch in Myeong-dong, one of Seoul's most popular shopping and tourism districts. The site has become known for showcasing digital content such as music videos by major pop artists, and has emerged as a prominent destination for visitors to the Korean capital. Sh

Jun 18, 2026By Jhoo Dong-chan
Shinsegae seeks to create World Cup magic under giant screen in Seoul

OpenAI's Sam Altman postpones visit to Korea due to daughter's birth: sources

OpenAI CEO Sam Altman's visit to Korea, originally scheduled for earlier this week, has been postponed due to the birth of his second daughter, sources here said Thursday. Altman had been set to arrive in Korea on Sunday for a two-day trip that included meetings with major technology companies, including Samsung Electronics, to discuss potential cooperation in artificial intelligence. During the visit, Altman was also expected to meet executives from portal operator Naver Corp. and mobile platform operator Kakao Corp. "The postponement appears to have been driven by family priorities rather than any business-related issues," an industry insider said on condition of anonymity. "In the United States, it is generally considered natural to adjust schedules for family events, such as the birth of a child." OpenAI previously said it hopes Altman will be able to visit Korea in the near future and meet local partners in person.

Jun 18, 2026By Yonhap
OpenAI's Sam Altman postpones visit to Korea due to daughter's birth: sources
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