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    Korea mounts final push for Canada's $39 bil. submarine project

    The Korean government and defense players are making last-ditch efforts to win Canada’s next-generation submarine project worth up to 60 trillion won ($39.14 billion), as Ottawa is expected to select a preferred bidder by the end of this month. Under the Canadian Patrol Submarine Project, the Royal Canadian Navy’s aging fleet of four Victoria-class submarines will be replaced with 12 new 3,000-ton diesel-electric vessels. The comprehensive contract includes long-term maintenance, repair and overhaul (MRO) lifecycles. With a decision looming, Seoul has elevated its bid to top-tier head-of-state diplomacy, seeking to give Korea’s consortium, led by Hanwha Ocean, an edge over rival bidder TKMS of Germany — a traditional heavyweight in submarine technology — in the closely contested race. President Lee Jae Myung recently provided critical diplomatic backing during a bilateral summit with Canadian Prime Minister Mark Carney on the sidelines of the Group of Seven summit in Evian-les-Bains, France. Lee said he emphasized Korea’s readiness to contribute to Canada’s defense capabil

    3 MIN READBy Lee Min-hyung
    Korea mounts final push for Canada's $39 bil. submarine project
  • Companies

    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics

    1 MIN READBy Lee Min-hyung
    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics
  • Tech & Science

    Korean battery makers accelerate push into US ESS market

    2 MIN READBy Lee Gyu-lee
    Korean battery makers accelerate push into US ESS market
  • Banking & Finance

    Woori Financial steps up productive finance with $6.5 bil. boost

    2 MIN READBy Lee Hyo-jin
    Woori Financial steps up productive finance with $6.5 bil. boost
  • Companies

    Coway targets smaller households with compact food waste processor

    2 MIN READBy Lee Gyu-lee
    Coway targets smaller households with compact food waste processor
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Companies

Court rules for LG chairman in family dispute over holding company stake

A district court ruled in favor of LG Group Chairman Koo Kwang-mo on Thursday in a legal dispute with his adoptive mother and her daughters over their stakes in the group’s holding company, LG Corp., temporarily easing concerns over a potential challenge to his management control. The Seoul Western District Court rejected a lawsuit filed by the chairman's adoptive mother and her daughters, saying it found no legal grounds to support the plaintiffs’ claims that his LG Corp. shares, which he inherited from former LG Chairman Koo Bon-moo, should be reallocated to them. The decision came three years after the late chairman’s widow, Kim Young-sik, and two daughters — Koo Yeon-kyung, head of the LG Welfare Foundation, and Koo Yeon-soo — filed the suit over the reallocation of inherited assets. The former chairman left assets worth about 2 trillion won ($1.39 billion), including an 11.28 percent stake in LG Corp. The current chairman inherited 8.76 percentage points of that stake, while Kim and the two daughters received assets worth 500 billion won, including 2.01 percent of LG Corp

Feb 12, 2026By Nam Hyun-woo
Court rules for LG chairman in family dispute over holding company stake
Tech & Science

Samsung Electronics begins HBM4 shipping for 1st time

Samsung Electronics announced Thursday that it has begun mass production and shipping of high-bandwidth memory 4 (HBM4), marking the world’s first delivery of the advanced chip for artificial intelligence (AI) accelerators to customers. For over a year, the company’s chipmaking Device Solutions division had refrained from officially announcing updates related to its HBM, as its predecessor HBM3E struggled in the market due to yield issues. With the latest announcement, Samsung appears to be signaling confidence in its technological advantages and stability in the mass production system. Samsung Electronics’ HBM4 chips are using its 1c process, the sixth-generation 10-nanometer-class DRAM technology, for the DRAM cell die, while using a 4-nanometer foundry process for the base die. While its main rival SK hynix is using a previous-generation 1b process for HBM4 to focus on stability, Samsung said it has pursued a more advanced process from the designing phase to secure top-tier performance, and achieved stable yields without any redesigns. “Instead of taking the conventional path

Feb 12, 2026By Nam Hyun-woo
Samsung Electronics begins HBM4 shipping for 1st time
Companies

LX International earns carbon credits in Indonesia

LX International, the trading arm of LX Group, said Thursday that the Indonesian government has recognized a hydropower plant it developed under the Paris Agreement, allowing it to trade the facility’s carbon credits independently. It marks the first time since the Paris Agreement took effect in 2016 that Indonesia has recognized a renewable energy project owned by a Korean company under the global climate accord. According to LX International, which owns Hasang Hydroelectric Power Plant in North Sumatra Province, the project was recently approved as an official carbon reduction initiative under Article 6.4 of the Paris Agreement. Article 6.4 establishes a United Nations-supervised carbon crediting mechanism under which a host country certifies emissions reductions achieved by a project and authorizes the transfer of corresponding credits to a buyer. The Hasang plant has a generation capacity of 41 megawatts and produces carbon-free electricity using falling water. The facility can supply power to approximately 150,000 households annually. LX International said the approval paves the wa

Feb 12, 2026By Ko Dong-hwan
LX International earns carbon credits in Indonesia
Companies

CJ Cheiljedang unveils reforms after FTC fine for colluding on sugar price

CJ Cheiljedang on Thursday outlined corrective measures after Korea's antitrust regulator imposed a hefty fine on the company for colluding with two smaller rivals to fix sugar prices. The Fair Trade Commission (FTC) levied a combined 408.3 billion won ($284 million) in fines on CJ Cheiljedang, TS and Samyang for unfair trade practices involving sugar price collusion in business-to-business (B2B) transactions. The three companies coordinated sugar prices on eight occasions between February 2021 and April 2025. CJ Cheiljedang faces the biggest fine of 150.6 billion won, according to the FTC. In a press release, CJ Cheiljedang apologized for its involvement and announced measures to prevent a recurrence. "We have decided to withdraw from the Korea Sugar Association, which was cited as a channel of contact among sugar companies," the company said. "In principle, all executives will be banned from contacting other sugar producers. A one-strike-out policy will apply in case of violations." To enhance transparency, the company said it will introduce a "selling price determination system," under

Feb 12, 2026By Yonhap
CJ Cheiljedang unveils reforms after FTC fine for colluding on sugar price
Companies

Amazon, Ulta Beauty fuel strong Medicube sales in US

Amazon and Ulta Beauty are fueling APR’s sales growth in the United States with Medicube, the signature cosmetics and beauty device brand of the major Korean beauty company. Amazon has been driving Medicube’s growth in local market share through its e-commerce platform, while Ulta Beauty, has been promoting the brand through its extensive nationwide network of offline stores, offering customers opportunities to experience the products in person. APR said Thursday that its sales in Amazon’s beauty category surged 432 percent last year from a year earlier. Among the most popular items were the Zero Pore Pad, Collagen Wrapping Mask and PDRN Gel Mask. Ulta Beauty began selling Medicube products last August at its 1,500 brick-and-mortar stores across the country, as well as on its online platform. The brand now offers 18 types of cosmetics and beauty devices, up from 12 at launch. By the end of last year, Medicube’s sales at Ulta Beauty stores had jumped 312 percent. According to APR, Ulta Beauty’s physical stores cater to local consumers in ways e-commerce platforms cannot. In addi

Feb 12, 2026By Ko Dong-hwan
Amazon, Ulta Beauty fuel strong Medicube sales in US
Companies

Hyundai Glovis introduces AI system for vehicle carrier loading

Hyundai Glovis said Wednesday it will introduce its in-house artificial intelligence (AI)-based stowage planning system for its pure car and truck carriers (PCTCs) to improve efficiency and safety in maritime vehicle transport. Stowage planning involves designing how cargo is arranged on a vessel to ensure smooth operations and safe delivery. The new system uses a data model that divides a car carrier’s interior into detailed decks and zones, mapping structural features and vehicle movement paths. Based on this model, the AI determines optimal loading routes and positions for each vehicle. By inputting vehicle types, volumes and ports of loading and discharge, the algorithm automatically generates the most efficient loading plan. It checks for movement bottlenecks, height and weight limits, and ensures the loading sequence matches unloading schedules at each port before finalizing the plan. Car carriers, which transport more than 6,000 vehicles per voyage, pose unique challenges because each vessel has a different internal structure and cargo composition varies by trip, making standard

Feb 12, 2026By Lee Min-hyung
Hyundai Glovis introduces AI system for vehicle carrier loading
Companies

KT&G sees record sales on overseas growth

Major Korean tobacco company KT&G posted record sales last year, driven by the growth of its overseas markets supplied directly by its global manufacturing plants. The company recorded 6.5 trillion won ($4.5 billion) in sales and 1.35 trillion won in operating profit. Sales reached a record high last year after six consecutive years of growth. Operating profit also jumped 13.5 percent from the previous year. A key contributor to the strong performance was KT&G’s 16 marketing and manufacturing bases outside Korea. The company’s overseas subsidiaries are located in Russia, Indonesia, Uzbekistan, Kazakhstan, Taiwan and Turkey. It also operates local branches in Tajikistan, Kyrgyzstan, Mongolia, China and Europe. Five global manufacturing plants are currently operating in Indonesia, Russia, Turkey and Kazakhstan. Another plant is set to be completed in Indonesia in the first half of this year. Altogether, the plants produce 65 billion cigarette sticks annually. KT&G’s tobacco products have gained noticeable popularity in local markets. The company has maintained market dominance in Mon

Feb 12, 2026By Ko Dong-hwan
KT&G sees record sales on overseas growth
Companies

MBK, Young Poong propose codifying fiduciary duty, stock split at Korea Zinc

The alliance of MBK Partners and Young Poong, the largest shareholder of Korea Zinc, has officially submitted shareholder proposals calling for the codification of directors’ fiduciary duty to shareholders in the company’s articles of incorporation and for a stock split of its outstanding shares, the alliance said Thursday. The proposals are intended to restore shareholder value that the alliance claims has been undermined by flawed corporate governance. It added that the measures are aimed at reinstating proper checks and balances within the company by ensuring that both the board of directors and the shareholders’ meeting operate as intended. The alliance has been challenging Chairman Choi Yun-beom’s control of the company since launching a tender offer on Sept. 13, 2024. “To begin with, MBK Partners and Young Poong have called for the explicit inclusion of directors’ fiduciary duty to shareholders in Korea Zinc’s articles of incorporation,” an MBK official said. “The proposal carries considerable market significance, as it represents the first known case of a contro

Feb 12, 2026By Jun Ji-hye
MBK, Young Poong propose codifying fiduciary duty, stock split at Korea Zinc
Tech & Science

Kakao enters strategic partnership with Google on on-device AI

Korea’s mobile platform giant Kakao said Thursday it has formed a strategic partnership with Google to collaborate on-device artificial intelligence (AI) services and embed its technologies into the latter’s new extended reality (XR) devices, including AI glasses. Kakao CEO Chung Shin-a announced the partnership during the company’s earnings call, saying the company will “begin full-fledged global collaborations to introduce next-generation AI experiences on the device side from this year.” “As the starting point of the partnership, we will collaborate with Google Android to upgrade on-device AI services, including Kanana in KakaoTalk launched last year,” Chung said. “Since this is a cooperation with the Android team, we expect to explore various opportunities in on-device AI services that can maximize the value of data assets within the Kakao ecosystem.” Kanana in KakaoTalk is a chatbot-type on-device AI service that functions in Kakao’s flagship KakaoTalk messenger app. Based on the company’s own AI model, it understands users’ conversation context and proactive

Feb 12, 2026By Nam Hyun-woo
Kakao enters strategic partnership with Google on on-device AI
Companies

3 sugar makers fined $282 mil. for price-fixing

Korea’s three major sugar producers — CJ CheilJedang, Samyang and TS — have been fined a combined 408.2 billion won ($282 million) for colluding to fix sugar prices, the Fair Trade Commission (FTC) said Thursday. CJ CheilJedang was fined 150 billion won, while Samyang and TS were slapped with penalties of 130 billion won and 127 billion won, respectively. According to the FTC, the companies conspired to fix prices on eight occasions over roughly four years, from February 2021 to April 2025. The fine marks the second-largest ever imposed by the regulator in a collusion case. The sugar industry is heavily regulated worldwide to protect domestic makers from volatile global prices. However, the firms engaged in the illegal practice at a time when consumers were suffering from the fallout of the COVID-19 pandemic, the FTC said. The hefty penalties come as the Lee Jae Myung administration steps up efforts to tighten oversight of price-fixing practices. Earlier this month, Lee praised prosecutors for indicting 52 executives on charges of price-fixing involving daily necessities such as flo

Feb 12, 2026By Lee Min-hyung
3 sugar makers fined $282 mil. for price-fixing
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