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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

'KPop Demon Hunters' Shin Ramyun on sale at US Costco, Walmart

Korean food giant Nongshim has rolled out new instant noodle and snack products in collaboration with Netflix’s hit film 'KPop Demon Hunters' across major U.S. retailers. Walmart, Costco, Kroger and H Mart began selling a special-edition Shin Ramyun last week featuring packaging inspired by the animated movie, the company said Wednesday. Nongshim, which operates two manufacturing plants in California through its U.S. subsidiary, Nongshim USA, said it will also roll out Shin Ramyun Toomba and shrimp crackers with redesigned packaging at the outlets. Nongshim’s collaboration with the movie comes after foods bearing a resemblance to its own products made appearances in the film, which helped generate buzz among fans. The company introduced the collaborative products in Korea last month, before the U.S. launch. Nongshim added that it plans to export these strategic products from its U.S. plants to markets in Europe and Southeast Asia.

Sep 17, 2025By Ko Dong-hwan
'KPop Demon Hunters' Shin Ramyun on sale at US Costco, Walmart
Banking & Finance

Samil PwC CEO wins prime minister's award for inclusive hiring

Samil PwC CEO Yoon Hoon-soo received a prime minister’s commendation at the government’s job creation awards hosted by the Ministry of Employment and Labor, the accounting firm said Tuesday. The awards recognize corporate leaders who play a significant role in fostering stable, high-quality employment. Yoon was honored for expanding job opportunities for both young people and vulnerable groups, including individuals with disabilities. The nation’s largest accounting firm saw its employment of young workers rise from 406 in 2023 to 455 in 2024, a 12.3 percent increase. Employment of people with disabilities also grew, climbing from 59 to 64 during the same period, an 8.5 percent gain. Notably, the company operates a subsidiary certified by the Korea Employment Agency for Persons with Disabilities (KEAD) as a workplace for people with disabilities, providing stable employment for 57 people and demonstrating its commitment to supporting vulnerable job seekers. The KEAD-certified workplace is designed to promote stable jobs for people with severe disabilities and support their social i

Sep 17, 2025By Jun Ji-hye
Samil PwC CEO wins prime minister's award for inclusive hiring
Tech & Science

IITP, Microsoft collaborate to build global network for fostering AI workers

A total of 34 Korean artificial intelligence (AI) researchers have successfully announced the results of their internships in a program jointly organized by the Ministry of Science and ICT, the Institute of Information & Communications Technology Planning & Evaluation (IITP) and Microsoft Research Asia (MSRA), aimed at fostering a global AI workforce. According to the IITP, the three sides jointly held 2025 Korea Day @ MSRA in Beijing on Monday and Tuesday, where the interns and MRSA researchers shared their latest achievements. Participating in the event were IITP President Hong Jin-bae, MSRA Managing Director and Corporate Vice President Lidong Zhou and more than 100 other researchers, professors and participating interns. In order to train IT workers, the IITP has been running the internship program in cooperation with MSRA since 2011. Among more than 170 graduates, 48 have been hired by leading IT companies in and outside of Korea, 33 have taken faculty positions at top universities such as Seoul National University (SNU) and Korea Advanced Institute of Science and Technology, and 2

Sep 17, 2025By Nam Hyun-woo
IITP, Microsoft collaborate to build global network for fostering AI workers
Companies

Hanwha Ocean wins 1.9 trillion-won order for 7 LNG ships from Taiwan's YangMing

Hanwha Ocean said Wednesday it has clinched a 1.93 trillion-won ($1.47 billion) order from Taiwan's YangMing Marine Transport to build seven liquefied natural gas (LNG) dual-fuel container ships. The vessels, each with a capacity of 15,880 twenty-foot equivalent units (TEUs), will be built at Hanwha's Okpo Shipyard in Geoje, South Gyeongsang Province, and delivered by the first half of 2029. The ships will be equipped with the world's first LNG fuel tanks designed with a 1.0 bar pressure rating, compared with the existing 0.7 bar design. The upgrade will enable safer and longer storage of vaporized natural gas. The deal marks Hanwha Ocean's first contract with YangMing and follows a similar order signed in March with Evergreen Marine, another Taiwanese shipper, further strengthening the shipbuilder's foothold in Taiwan's market. "This first contract with YangMing is a recognition of Hanwha Ocean's differentiated eco-friendly technology and design capabilities," Chief Executive Officer (CEO) Kim Hee-cheul said. "We will further solidify our technological edge and continue to lead the glob

Sep 17, 2025By Yonhap
Hanwha Ocean wins 1.9 trillion-won order for 7 LNG ships from Taiwan's YangMing
Business

Korea to bolster nuclear energy safety via AI technology

Korea aims to apply artificial intelligence (AI) technologies in the nuclear energy sector to bolster safety, while rolling out efforts to develop next-generation reactors, a senior science ministry official has said. First Vice Science Minister Koo Hyuk-chae made the remark on Tuesday (Austrian time) during the 69th Regular Session of the International Atomic Energy Agency (IAEA) General Conference in Vienna, noting that Korea will pursue both innovation and safety by harnessing AI technology. Koo added that Asia's fourth-largest economy will apply cutting-edge technologies, such as AI and robotics, to all stages of the nuclear energy industry, including planning, operation and safety management. Korea is also in the process of establishing reasonable, science-based regulations to utilize small modular reactors, he said. The first vice science minister called for proactive support from member countries for Korea's hosting of an IAEA ministerial meeting in 2026. During the general conference, which runs through Friday, Koo plans to meet with IAEA Director General Rafael Grossi to discuss

Sep 17, 2025By Yonhap
Korea to bolster nuclear energy safety via AI technology
Companies

Seoul's industry minister refutes questions on necessity for US tariff talks

SEJONG — Minister of Trade, Industry and Energy Kim Jung-kwan expressed caution over questions on the necessity of Korea's protracted tariff negotiations with the United States, amid mounting voices that paying the current 25 percent tariff will be less costly than hastily accepting Washington's demand to take most of the benefits that would be created from the $350 billion investment proposed by Seoul. "Some say even if tariffs were raised from 15 percent (as the two countries previously agreed) to 25 percent, it would not be much compared to $350 billion, and I also sometimes think of this as an option," Kim said during a dinner reception with reporters, while also stressing that it was his personal opinion. "But the real question is what kind of country we’re going to pass on to the next generation... When you look into the negotiations, you will realize it's about how we define our relations with the U.S., and it will be an important decision that will shape our future." He added that the Donald Trump administration tends to label a country as not being on Washington's side if t

Sep 17, 2025By Lee Gyu-lee
Seoul's industry minister refutes questions on necessity for US tariff talks
Companies

Lotte Card's data breach more severe than initially reported: authorities

Lotte Card Co.'s data breach was found to have been more severe than initially thought, financial authorities said Wednesday, noting personal information, such as card records, of a large portion of customers may have been leaked. Earlier this month, Lotte Card, with some 9.6 million members, disclosed a cyber breach. Since then, the financial watchdog and the card company have been struggling to gauge the damage caused by the hacking. According to the officials at the Financial Supervisory Service (FSS), the size of the data leak and the damage were found to have been more serious than earlier thought. "We are working to complete the probe (into the data leak) and may announce the result this week," an FSS official said. Lotte Card's data breach is the latest in a series of massive cyber breach cases in the financial sector. Earlier, SGI Seoul Guarantee had suffered a similar hacking. Lotte Card's cybersecurity lapse also came as FSS Gov. Lee Chan-jin has been calling on financial firms to beef up their cybersecurity and better safeguard customers.

Sep 17, 2025By Yonhap
Lotte Card's data breach more severe than initially reported: authorities
Companies

HD Hyundai to merge 2 construction equipment units into Korea's largest machinery firm

HD Hyundai's two construction equipment affiliates — HD Hyundai Construction Equipment and HD Hyundai Infracore — plan to merge to form South Korea's largest construction machinery company next year, according to the companies Tuesday. HD Hyundai Infracore said its shareholders approved the merger plan at an extraordinary general meeting held earlier in the day, while HD Hyundai Construction Equipment was also set to approve the consolidation move at its own shareholders' meeting. The new entity, to be named HD Construction Equipment, is poised to be launched on Jan. 1 after completing follow-up steps. The two firms first announced their merger plan in July, saying it was necessary to secure future technologies and cost competitiveness through the consolidation amid global economic uncertainty and intensifying competition. The merged company aims to reach 14.8 trillion won ($10.7 billion) in annual sales by 2030 and strengthen its position in the global market.

Sep 16, 2025By Yonhap
HD Hyundai to merge 2 construction equipment units into Korea's largest machinery firm
Tech & Science

Leading telecoms struggle with aftermath of data breach

In the wake of recent data breaches and cyberthreats, Korea’s major mobile carriers SK Telecom and KT are under heightened scrutiny from authorities and facing growing concerns from consumers, as both scramble to reassure users and contain potential fallout. SK Telecom, the nation’s largest telecom operator, is still reeling from a massive hacking incident in April that affected 27 million users with a personal information breach and dragged its market share below 40 percent for the first time in a decade. The Ministry of Science and ICT said Tuesday it has launched an investigation into a group identifying itself as an international hacking organization that is claiming it owns stolen SK Telecom customer data and seeks to sell it. The group, calling itself Scattered Lapsus$, posted on Telegram Monday claiming it possesses the data of 27 million SK Telecom users and is selling a 100 gigabyte sample of the dataset for $10,000. It said the data includes personal information such as user IDs, full names, phone numbers, emails, addresses and birthdates. The group shared images of sample

Sep 16, 2025By Lee Gyu-lee
Leading telecoms struggle with aftermath of data breach
Banking & Finance

Mirae Asset launches AI-powered ad campaign for retail government bonds

Mirae Asset Securities has released a new advertisement created using artificial intelligence (AI) technology on its YouTube channel, the company said Tuesday. The ad promotes the stability and long-term investment value of government bonds for retail investors, widely known as Korea Treasury Bonds (KTB). Mirae Asset is the exclusive distributor of retail government bonds. Using the concept of a Formula 1 racing competition, the ad conveys the key strengths of retail government bonds. During the race, the Mirae Asset Securities Retail Government Bond racer maintains a steady lead, highlighting advantages such as guaranteed principal, regular and stable interest income, compound interest upon maturity and tax incentives. AI technology was used throughout the entire video production process, not only for visual effects and editing, but also for sound design, narration and detailed animation. This is part of Mirae Asset’s continued efforts to integrate AI into its digital marketing strategy, expanding opportunities for customer engagement online. In June, the company launched an ad titled

Sep 16, 2025By Lee Kyung-min
Mirae Asset launches AI-powered ad campaign for retail government bonds
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