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  • Companies

    Will Homeplus liquidation decision be postponed again?

    Homeplus has submitted an amended rehabilitation plan just three days before a court deadline, but its failure to secure a crucial 200 billion won ($129 million) capital injection is increasing uncertainty over whether the troubled retailer will face liquidation, industry sources said Wednesday. The Seoul Bankruptcy Court will now assess the feasibility of the revised proposal to determine whether to continue with rescue proceedings or dissolve the company. Although the current deadline expires this Friday, expectations are rising that the court will defer the date once more to review the new submission. The country’s second-largest retail chain, controlled by private equity firm MBK Partners, filed for corporate rehabilitation on March 4 last year after struggling with financial difficulties and facing credit rating downgrades. The original deadline for court approval of its rehabilitation plan was March 4 this year, but the court first extended it to May 4 before granting an additional extension until this Friday. Bankruptcy law dictates that a rehabilitation scheme must receive appr

    3 MIN READBy Jun Ji-hye
    Will Homeplus liquidation decision be postponed again?
  • Companies

    Renault Korea's June sales plunge 45 % on weak demand

    1 MIN READBy Yonhap
    Renault Korea's June sales plunge 45 % on weak demand
  • Companies

    GM Korea's June sales rise 6.6% on robust overseas demand

    1 MIN READBy Yonhap
    GM Korea's June sales rise 6.6% on robust overseas demand
  • Companies

    Hyundai Motor's global sales down in June on weaker demand

    1 MIN READBy Yonhap
    Hyundai Motor's global sales down in June on weaker demand
  • Companies

    JoongAng Ilbo puts controlling rights up for sale amid creditor workout

    1 MIN READBy Jung Min-ho
    JoongAng Ilbo puts controlling rights up for sale amid creditor workout
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Companies

Cumulative sales of Buldak spicy ramyeon exceed 8 billion units

Samyang Foods Inc. said Wednesday cumulative sales of its popular Buldak spicy ramyeon series have surpassed 8 billion units in the first half of 2025 on rising global demand. Sales of the Buldak brand have surged in recent years, reaching 5 billion units in 2023, 7 billion in 2024 and 8 billion in just the first six months of this year, according to the company. Launched in 2012, the spicy instant noodles are now sold in about 100 countries, including the United States, China, Europe and Southeast Asia. The product first gained global attention after its extreme spiciness went viral in a food-eating challenge in 2014. Samyang Foods said Buldak's strong appeal comes not only from its intense flavor but also from the company's localization efforts tailored to regional tastes. To meet rising overseas demand, Samyang Foods plans to complete construction of its first overseas production plant in China in 2027. Thanks to the Buldak boom, Samyang Foods' sales jumped 33.6 percent year-on-year to 1.08 trillion won ($774.2 million) in the first half of 2025, with net profit totaling 183 billion won

Sep 24, 2025By Yonhap
Cumulative sales of Buldak spicy ramyeon exceed 8 billion units
Companies

SK Broadband marks 28th anniversary with volunteer cleanup

SK Broadband conducted a volunteer activity Tuesday at the Mount Gaewoong Trail in Guro-gu to commemorate its 28th anniversary. The event, which combined walking with environmental cleanup in a “plogging” format, was joined by CEO Park Jin-hyo and employees. Grouped into teams of three, participants collected fallen leaves and litter along the trail to create a more pleasant environment for visitors. “We will continue to hold volunteer activities on our anniversary each year to create greater social value and deliver positive impacts for customers and the local community,” a company official said. The company is also advancing eco-friendly management by introducing hybrid cooling systems at its data centers and securing low-carbon certification for its “Smart3” set-top box. The company also hosts a music festival to foster the talents of children and young people, highlighting its commitment to creating social value.

Sep 24, 2025By Lee Gyu-lee
SK Broadband marks 28th anniversary with volunteer cleanup
Companies

KakaoTalk leads in users; TikTok Lite in usage time: data

KakaoTalk, a mobile messenger operated by Kakao, was the most widely used social media platform in Korea last month, data showed Wednesday. According to industry tracker Wiseapp Retail's statistical analysis of 51.2 million people, KakaoTalk recorded 48.19 million monthly active users (MAUs) in August, the highest among social media services in the country. Instagram ranked second with 27.41 million MAUs, followed by Band, Naver Corp.'s communication app, with 17.08 million and Naver Cafe with 9.3 million. TikTok recorded 8.32 million MAUs, and X had 7.49 million. In terms of usage time, TikTok Lite topped the list. Koreans spent an average of 18 hours and 57 minutes per user on TikTok Lite in August, compared with 18 hours and 1 minute on Instagram, 17 hours and 41 minutes on TikTok, and 14 hours and 58 minutes on X. KakaoTalk users spent 11 hours and 25 minutes on the platform.

Sep 24, 2025By Yonhap
KakaoTalk leads in users; TikTok Lite in usage time: data
Companies

Atomy ranked third in GPTW's best Asian workplaces list

Cosmetics maker Atomy said that it has been ranked third in the small and medium category of the 2025 Asia’s Best Workplaces 200 list — compiled by Great Place to Work (GPTW), a global authority on workplace culture. GPTW measures five core categories for the list: trust, respect, fairness, pride and camaraderie. It also takes into consideration factors such as communication; execution; ethics; support; engagement; care; equity; justice; closeness; goodwill; a sense of community; and pride at the personal, team, and company levels. The company said in a press release that Atomy fosters an environment where employees can work freely and proactively — not only at its headquarters in Korea but also at its overseas branches in China and the Philippines — under its motto, "Cherish the Spirit." “Employees are not instruments for the company’s growth. They are the purpose itself,” Atomy Chairman Park Han-gil said. “Atomy firmly believes that employees’ growth is their work, and this, in turn, drives the company’s growth.” For five consecutive years, GPTW has named Park one

Sep 24, 2025By Jhoo Dong-chan
Atomy ranked third in GPTW's best Asian workplaces list
Companies

GPTW announces top 200 workplaces in Asia

Great Place to Work (GPTW) released their 2025 Best Workplaces in Asia list on Tuesday. Established in 1990, the private evaluation agency has annually surveyed employees of 915 companies from 16 Asian countries. GPTW said it carries out evaluations based on the agency’s “Trust Index” measurement, activities and performance. Through the evaluation, the agency identifies companies in Asia that have achieved the highest standards of trust management. Korean cosmetics powerhouse Atomy took the third spot in the Small & Medium Business category. The company said it has fostered an environment where employees can work freely and proactively under the motto of “Cherish the Spirit.” Atomy was also named one of Korea’s Best Workplaces by GPTW, while Atomy Chairman Park Han-gil was recognized as Korea’s Most Respected CEO for the fifth consecutive year. Medical business Merz Aesthetics topped the list’s Small & Medium Business category. The firm said it has done its best to foster a working environment of investing in people, advancing innovation and nurturing a culture of respect,

Sep 24, 2025By Jhoo Dong-chan
GPTW announces top 200 workplaces in Asia
Companies

5 carmakers to recall over 107,000 vehicles for defective parts

Hyundai Motor Co., Kia Corp. and three other automakers will voluntarily recall more than 107,000 vehicles to address faulty parts, the transport ministry said Wednesday. The five companies, which include Renault Korea Motors Co. and Ford Sales Service Korea, are recalling a combined 107,747 units across eight models, according to the ministry. The defects include a faulty engine belt tightener in Hyundai's Porter II and Kia's Bongo III pickup trucks, which could cause the belt to dislodge and affect steering. Renault's XM3 compact sport utility vehicle (SUV) and another model were found to have software errors involving the fuel pump that may cause the engine to stall while driving. Ford's Lincoln MKX SUV will be recalled due to its poor rear auxiliary brake lamp cover, while three Volvo models, including the FH Tractor heavy-duty truck, were found with software issues that could cause steering malfunction, the ministry said.

Sep 24, 2025By Yonhap
5 carmakers to recall over 107,000 vehicles for defective parts
Companies

Chinese price-competitive sodium-ion batteries pose threat to Samsung, LG

CATL, a Chinese battery manufacturer and technology company, is commercializing sodium-ion batteries — a move that poses an increasing threat to Korean battery firms, which still rely on sales of less price-competitive nickel cobalt manganese (NCM) batteries, experts and industry officials said Thursday. The Chinese firm recently unveiled its second-generation Naxtra sodium-ion batteries for electric vehicles (EVs), and shared its plan to start its mass production in December this year. Sodium-ion batteries offer several major advantages over nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) batteries, particularly in terms of cost and proven safety against fire risks. They also maintain strong energy density even in extremely low temperatures. The latest move by the Chinese battery giant puts particular pressure on LG Energy Solution, Samsung SDI and SK On, as their research and development of sodium-ion batteries is still in its early stages. Chinese battery firms have rapidly expanded their market share with cheaper LFP batteries in recent years. LFP batteries are expan

Sep 24, 2025By Lee Min-hyung
Chinese price-competitive sodium-ion batteries pose threat to Samsung, LG
Tech & Science

KakaoTalk meets ChatGPT: Korean messenger unveils major updates to flagship app

Tech giant Kakao is rolling out major updates to its flagship messenger service KakaoTalk for the first time since its launch 15 years ago, integrating ChatGPT and self-developed artificial intelligence (AI) model, Kanana, to the platform, along with personalization and expanded communication features. The company unveiled the updates at its annual if(Kakao)25 conference on Tuesday at Kakao AI Campus in Yongin, Gyeonggi Province, outlining its ambitious road map to bring AI to its users. “Over the past 15 years, Kakao has pursued a single goal to make everyday life easy and convenient for everyone. Now, Kakao seeks to prepare for the next 15 years in the way it does best,” Kakao CEO Chung Shin-a said during the conference. “And the starting point of this is the renewal of KakaoTalk. A change of this scale is the first in its history. This renewal reflects KakaoTalk's commitment to focus on users’ voices and behaviors while closely responding to the changing era.” The key highlight of this update is the deployment of OpenAI’s GPT-5-powered ChatGPT next month through a strategi

Sep 23, 2025By Lee Gyu-lee
KakaoTalk meets ChatGPT: Korean messenger unveils major updates to flagship app
Companies

Inside 6-year ginseng harvest for Jung Kwan Jang

ICHEON, Gyeonggi Province — Yun Jeong-sik, a fourth-generation ginseng farmer in his 40s, was busy overseeing the harvest at his 9,900-square-meter farm on Monday. Around 50 migrant workers from Southeast Asia lined up along the cultivated mounds, where six-year-old ginseng roots lay hidden beneath the soil, ready to be unearthed and exposed to sunlight for the first time. Once tractors ploughed the mounds and pulled the crops from beneath the soil, workers handpicked them and collected them in yellow baskets, each barcoded, issued by the Korea Ginseng Corp. (KGC). The company, which runs global ginseng brand Jung Kwan Jang, has contracted with Yun to purchase the day's entire harvest. The same arrangement applied to Yun’s eight other farms in Icheon and Yeoju, Gyeonggi Province, where he plans to harvest between September and November, the annual ginseng harvesting season. Yun, who has been farming ginseng for 20 years, said the plant root, well known for its health benefits and use in traditional medicine, is difficult to grow. Quality ginseng requires very specific cultivation c

Sep 23, 2025By Ko Dong-hwan
Inside 6-year ginseng harvest for Jung Kwan Jang
Companies

Unionized workers of GM Korea vote to accept wage deal

Unionized workers of GM Korea, the Korean unit of General Motors, have voted to accept this year's wage agreement with management, ending four months of prolonged negotiations, the union said Tuesday. In the recent vote, 66.5 percent of the 6,508 union members approved the deal, while 33.2 percent opposed it, according to the union. The agreement includes a 95,000 won ($69) monthly base wage hike and a comprehensive bonus package totaling 17.5 million won per worker. The two sides also agreed to introduce a new production incentive allowance for certain shifts and raise assembly-related allowances. The automaker's management and union had clashed over the company's plan to sell unused company assets and dismiss the chief of the union, delaying the wage deal until a tentative agreement was reached in the 19th round of talks last week.

Sep 23, 2025By Yonhap
Unionized workers of GM Korea vote to accept wage deal
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