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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?
  • Tech & Science

    SK hynix finishes filing for US depositary share offering

    2 MIN READBy Nam Hyun-woo
    SK hynix finishes filing for US depositary share offering
  • 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
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Companies

PHOTO HD Hyundai Oilbank, Korean Air sign SAF supply deal

HD Hyundai Oilbank employees pose at its factory in Seosan, South Chungcheong Province, Monday, to celebrate the company's provision of sustainable aviation fuel (SAF) to Korean Air. The oil refiner said a 1 percent SAF blend will be used on the airline's flights from Incheon to Kobe, Japan, through the end of next year. The two companies signed the supply deal ahead of the government's upcoming mandate on using SAF in all outbound flights starting in 2027. Courtesy of HD Hyundai Oilbank

Sep 22, 2025By Park Jae-hyukphoto
[PHOTO] HD Hyundai Oilbank, Korean Air sign SAF supply deal
Companies

Volkswagen Atlas courts Korean market with family-oriented features

Volkswagen’s large SUV, the Atlas, is becoming an attractive option for Korean drivers with its family-oriented appeal, including spacious interiors for multiple car seats, safety features and versatility to accommodate weekend leisure activities. The Atlas is noted for its space configuration, which makes it suitable for families with multiple children. All seats in the second row are equipped with ISOFIX anchors, allowing up to three car seats to be installed in the seven-seat model. Although the third row does not have ISOFIX, booster or infant seats can be secured with seat belts and anchors, making it possible to install as many as five car seats in total. Unlike other six- or seven-seater SUVs, which only allow passengers to access the third row after folding the second-row seats, the Atlas addresses this with a sliding function that allows the entire second row to move smoothly forward, even with a child seat installed. Through this mechanism, passengers can get in and out of the third row more comfortably, enabling more spaces for parents to take care of children in the back se

Sep 22, 2025By Nam Hyun-woo
Volkswagen Atlas courts Korean market with family-oriented features
Banking & Finance

Data from some 20 private equity funds leaked in hacking attack

Data from around 20 asset management firms in Korea were breached in a hacking incident earlier this month, industry sources said Monday. A cloud server maintained by an IT subcontractor and used mostly by local small and medium-sized private equity funds was hacked by the Russian-speaking ransomware gang Qilin, according to the sources. Qilin claimed that the leaked data include the firms' tax-related documents, employee data and personal information of their investors. Financial authorities said they have yet to receive any reports of credit information leaks that could lead to monetary damage. They added they were aware of the data breach in advance and have been monitoring the situation. The incident is the latest in a series of massive cyber breach cases in the financial sector. Earlier, Lotte Card Co., the country's fifth-largest card issuer, had suffered a data leak affecting some 3 million customers in a hacking attack.

Sep 22, 2025By Yonhap
Data from some 20 private equity funds leaked in hacking attack
Companies

PHOTO Shin Ramyun hits Camp Humphreys

U.S. service members sample Nongshim’s Shin Ramyun instant noodles at a food truck event at Camp Humphreys in Pyeongtaek, Gyeonggi Province, in this photo released Monday. Nongshim showcased a bundle of Shin Ramyun, Shin Ramyun Toomba and Shin Ramyun Black noodles in collaboration with Netflix’s "KPop Demon Hunters" during the event, held Friday and Saturday. Courtesy of Nongshim

Sep 22, 2025By Ko Dong-hwan
[PHOTO] Shin Ramyun hits Camp Humphreys
Companies

Hanwha Group invites US Korean War veterans to defense production sites

Hanwha Group said Monday it has hosted a visit by U.S. veterans of the 1950-53 Korean War to its defense system production plants in Korea as part of a government program to recognize their service and sacrifice. According to Hanwha, the veterans visited the production facilities of Hanwha in South Gyeongsang Province for three days from Thursday. The program was arranged in cooperation with the Ministry of Patriots and Veterans Affairs. The group of 85 participants included Lois Rae Guin, a 98-year-old former U.S. Navy nurse who served on the hospital ship the USS Haven, and Robert Max Martinez, a 94-year-old former U.S. Army sergeant, along with U.S. Forces Korea service members and their families. At Hanwha Aerospace's Changwon plant, they observed demonstrations of the company's various weapons systems. They also visited the Geoje shipyard of Hanwha Ocean Co. to observe naval vessel construction. Many expressed amazement at Korea's rise as a global defense power, according to the group. "This year marks the 75th anniversary of the Korean War. As a leading defense company, Hanwha will

Sep 22, 2025By Yonhap
Hanwha Group invites US Korean War veterans to defense production sites
Companies

Korean Air expands use of sustainable fuel on Japan routes

Korean Air, Korea's biggest carrier, said Monday it has begun using more environmentally friendly aviation fuel on its Japan routes as part of efforts to reduce carbon emissions. A 1 percent blend of domestically produced sustainable aviation fuel (SAF) has been introduced on flights from Incheon to Kobe and those from Gimpo to Osaka, starting Friday and continuing through Dec. 31, according to Korean Air. The program applies to about 90 flights on the Incheon-Kobe route and 26 flights on the Gimpo-Osaka route. Korean Air previously used locally produced SAF on the Incheon-Haneda route beginning in August 2024 for about a year to verify the fuel's safety and performance. SAF is estimated to reduce life-cycle carbon emissions by up to 80 percent compared with conventional jet fuel and is considered a key component of the aviation industry's decarbonization strategy. Korean Air said the SAF used by the company is supplied by Korean refiners HD Hyundai Oilbank and GS Caltex. Earlier this month, the government announced plans to mandate a minimum blending ratio of 1 percent SAF in outbound fli

Sep 22, 2025By Yonhap
Korean Air expands use of sustainable fuel on Japan routes
Companies

Never lose contact with customers: Kia’s top salesman

Lee Sung-hum, a salesman at Kia, has made it a rule never to lose contact with customers, even from his early years of sales career back in the late 1990s. He achieved accumulated auto sales of 4,000 last month, earning the carmaker's title of "grand sales master." The title is awarded to salespeople whose total sales surpass this figure. This is Kia’s second-highest sales glory, just below the title of “great master” granted to those with accumulated sales of more than 5,000 cars. Lee started his sales career at the carmaker in 1996 in Seongsu-dong in eastern Seoul. The region was once regarded as the industrial hub of Seoul, packed with factories. Most of his customers at the time were factory workers. However, the area soon lost vibrancy, with factories relocating their facilities to the outskirts of Gyeonggi Province amid an economic downturn in the late 1990s. Lee said many of his customers also moved to other cities in Gyeonggi Province, such as Goyang and Namyangju. “I have kept in touch with them, even after they left Seongsu-dong, and provided all necessary services for t

Sep 22, 2025By Lee Min-hyung
Never lose contact with customers: Kia’s top salesman
Business

Korean firms call for US tariff relief, visa reforms amid trade uncertainty

Korean companies urged the government Monday to seek eased U.S. tariffs on strategic industries and improvements to the U.S. visa program for Korean workers, a major business lobby said. The request was made during a seminar hosted by the Korea Chamber of Commerce and Industry (KCCI), attended by Trade Minister Yeo Han-koo and executives from a number of leading businesses, including Hyundai Motor, LG Group, HD Hyundai, POSCO International, CJ Group, Lotte Group and Hanwha Group, according to the KCCI. In his opening remarks, Lee Kye-in, chair of the KCCI's international trade committee, said, "Much of the uncertainty has been alleviated through the recent Korea-U.S. tariff negotiations and the bilateral summit, despite lingering tensions from a series of U.S. tariff actions and trade policies." He added that, as shown by the recent visa issues faced by Korean workers at Hyundai Motor's battery plant construction site in Georgia, unexpected challenges can arise at any time. Participants said that tariff deferrals or exemptions are urgently needed for strategic sectors, such as shipbuildi

Sep 22, 2025By Yonhap
Korean firms call for US tariff relief, visa reforms amid trade uncertainty
Companies

Dongsuh Foods' pop-up brings tradition, modernity to Gyeongju

Dongsuh Foods is offering a unique brand experience with a new pop-up store at a hanok, reinterpreting the traditional Korean house with a touch of modernity to turn it into a space where the past and present coexist. Since opening its first pop-up store in 2015, the instant coffee giant has drawn consumers’ attention with a succession of pop-ups. This time, it has turned to distinctly Korean elements to deliver a warm welcome to its customers. The latest pop-up store, Maxim Gaok, is nestled in the historic city of Gyeongju, North Gyeongsang Province, under the themes of happiness and hospitality. Maxim Gaok, which opened on Aug. 28, will operate until Friday. Under the catchphrase "Come on in happiness," the tranquil hanok harmonizes traditional sentiment with modern sensibility. Visitors can enjoy Maxim coffee and various activities through different spaces with the hanok, each decorated with a special concept, to experience a Korean-style welcome. "We are conducting pop-up stores with various concepts to share Maxim's unique brand sentiment of the leisure and happiness that a cup of

Sep 21, 2025By Lee Gyu-lee
Dongsuh Foods' pop-up brings tradition, modernity to Gyeongju
Business

Industrial accidents among foreign workers rise over past 5 years

The number of foreign workers in Korea who have suffered workplace accidents has increased over the past five years, data showed Sunday, sparking criticism over loopholes in the country’s safety measures for migrant laborers. According to the Ministry of Employment and Labor data submitted to Rep. Kang Deuk-gu of the ruling Democratic Party of Korea, the total number of foreign workers who suffered accidents at their workplace reached 9,219 last year, the highest since 2020. The figure includes 114 who died due to either accident or illness related to their work. The data showed the number of victims has been increasing every year since 2020, rising from 7,583 to 8,030 in 2021; 8,286 in 2022; 8,792 in 2023; and 9,219 last year. In the first half of this year, the figure reached 4,550, raising concerns that the 2025 total may rise again. Over the past five years, annual fatalities have consistently remained above 100, with the highest figure of 129 in 2021, indicating little change from earlier trends. By segment, manufacturing and construction industries were most prone to accidents, t

Sep 21, 2025By Ko Dong-hwan
Industrial accidents among foreign workers rise over past 5 years
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