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  • Companies

    Samsung considers appealing UK ruling over Swatch watch face suit

    Samsung Electronics said Thursday it is considering “all possible countermeasures, including an appeal” to a U.K. High Court’s decision to pay Swatch Group $11.6 million in damages for hosting smartwatch watch face designs that replicated the Swatch brands on its Galaxy app store. “We are carefully considering the High Court's judgment and will consider all possible countermeasures, including an appeal,” Samsung said in a statement. The High Court in London ruled Wednesday (local time) that Samsung should pay damages to the Swiss watchmaker as watch face apps developed by third parties have copied watch face designs of Swatch brands such as Breguet, Blancpain, Omega, Longines and Tissot. The ruling was for far less than the $170 million (235.7 billion won) in damages that Swatch Group initially sought, but far higher than Samsung’s claim that it gained only $300 by selling the watch face apps and that Swatch did not suffer any damage. According to local media reports, the court ruled that the majority of the damages were specifically for display infringement that harmed Swatc

    2 MIN READBy Nam Hyun-woo
    Samsung considers appealing UK ruling over Swatch watch face suit
  • Companies

    Hyundai Mobis showcases AI, robotics-based manufacturing technology with suppliers

    2 MIN READBy Jhoo Dong-chan
    Hyundai Mobis showcases AI, robotics-based manufacturing technology with suppliers
  • Companies

    KT participates in TechSauce Global Summit 2026 in Bangkok with 12 partner startups

    2 MIN READBy Jhoo Dong-chan
    KT participates in TechSauce Global Summit 2026 in Bangkok with 12 partner startups
  • Companies

    K-pop group RESCENE propels Narangd Cider sales up 48%

    2 MIN READBy Jhoo Dong-chan
    K-pop group RESCENE propels Narangd Cider sales up 48%
  • Tech & Science

    Korea to launch homegrown Nuri rocket on Oct. 7

    1 MIN READBy Yonhap
    Korea to launch homegrown Nuri rocket on Oct. 7
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Banking & Finance

KakaoBank CEO joins president's state visit to Mongolia

KakaoBank CEO Yun Ho-young attended the Korea-Mongolia Business Forum in Ulaanbaatar held on the sidelines of President Lee Jae Myung's state visit to Mongolia, the lender said Friday. Yun was the only CEO of a Korean commercial bank included in the president's business delegation during the three-day trip. At the forum held the previous day, Yun delivered a presentation titled "Beyond Banking, Into Every Life," introducing KakaoBank's digital banking model and its use of alternative credit scoring and artificial intelligence (AI) to broaden access to financial services. He said Korea's largest internet-only lender has lowered barriers to customers by reducing time, cost and credit constraints, citing its alternative credit assessment model as a key tool for extending loans to underserved borrowers. On the sidelines of the forum, KakaoBank signed a term sheet with Mongolia's MCS Holdings for a strategic investment in the latter's digital banking subsidiary, M Bank. KakaoBank plans to complete the investment in the Mongolian bank within this year after signing a final agreement and obtaini

Jul 10, 2026By Lee Hyo-jin
KakaoBank CEO joins president's state visit to Mongolia
Companies

Lee calls out IKEA Korea over alleged anti-labor practices

President Lee Jae Myung said Friday that the government will investigate allegations that IKEA Korea demoted an employee and pressured the worker to resign after returning from parental leave, vowing strict action if the allegations are confirmed. "If the allegations are found to be true after a thorough investigation, we will take stern measures in line with international standards," Lee wrote on X, formerly Twitter, as he shared a news report on the case. Lee said some multinational companies regarded as exemplary employers abroad had drawn criticism for adopting opaque management and anti-labor practices in Korea. "That was during a time when the Korean government pursued anti-labor policies and was tainted by corruption," Lee wrote. "Now that Korea is becoming a model society with a government that leads by example, such outdated management practices cannot be tolerated." He added that just as Korean companies should not engage in anti-labor practices overseas, foreign companies should not do so in Korea. The report alleged that IKEA Korea demoted an executive returning from parental

Jul 10, 2026By Ko Dong-hwan
Lee calls out IKEA Korea over alleged anti-labor practices
Companies

SK hynix prices its mega US listing at $149 per share

Chipmaker SK hynix Inc. said Friday it will raise about 40 trillion won ($26.5 billion) through the listing of its American depositary receipts (ADRs) on the Nasdaq, marking what would be the world's second-largest equity offering after SpaceX. The offering consists of 177.9 million ADRs priced at $149 each, according to a regulatory filing. Each ADR represents one-tenth of a Seoul-listed common share. The offering is expected to raise $26.51 billion (about 40 trillion won), based on the sale of ADRs backed by 22.5 million common shares. The fundraising target was revised down from the previously announced 43 trillion won. ADRs are negotiable certificates issued by U.S. depositary banks that represent shares in foreign companies, allowing overseas firms to access U.S. capital markets without directly listing their common stock on a U.S. exchange. The listing is expected to become the largest-ever U.S. equity debut by a foreign company, surpassing the $21.8 billion raised by Chinese technology giant Alibaba in its New York initial public offering (IPO). It would also rank as the world's se

Jul 10, 2026By Yonhap
SK hynix prices its mega US listing at $149 per share
Companies

L&F emerges as first non-Chinese mass-producer of LFP cathodes

Lithium iron phosphate (LFP) may sound unfamiliar to those not in the rapidly growing field of the global secondary battery market. To L&F President and Chief Finance Officer Yu Sung-hun, the material has become a silver bullet for the company’s next-generation business of manufacturing key components for the batteries, as well as power-saving energy infrastructure that is now experiencing spiking demand worldwide. L&F, based in Daegu with over 20 years of history, has completed everything it needs to start manufacturing LFP for battery cathodes and energy storage systems (ESS) by October. Yu said L&F will be Korea's only LFP manufacturer. In May, the company completed construction on an LFP production plant in Daegu through its wholly owned subsidiary, L&F Plus. The facility will start with an annual production capacity of 30,000 tons, which Yu said will double in the first half of next year. He added that the expansion is a key step in advancing L&F's long-term growth strategy. “LFP is rapidly expanding its application scope to include ESS, industrial mobility and robotics, establ

Jul 10, 2026By Ko Dong-hwan
L&F emerges as first non-Chinese mass-producer of LFP cathodes
Companies

Mercedes-Benz Korea's new CEO tasked with recovering EV sales, corporate image

Mercedes-Benz Korea’s new CEO Shirin Emeera faces a dual challenge of reviving the carmaker’s slowing electric vehicle (EV) sales and rebuilding consumer confidence. Since assuming the role on July 1, Emeera has led Mercedes-Benz Korea at a pivotal moment as the German luxury carmaker rapidly loses ground to Tesla and BMW in Korea. A veteran executive with more than two decades of experience, she most recently oversaw dealer network strategy and market management at the company's headquarters in Germany. Industry officials expect her extensive expertise in retail operations and distribution strategy to play a key role in strengthening Mercedes-Benz Korea's newly introduced direct-sales system and restoring sales momentum. Before assuming her current role, Emeera led Mercedes-Benz's operations in Sweden and Denmark, where she successfully guided the brand to the top position in the premium vehicle segment. Her track record has raised expectations that she can successfully steer the Korean unit even amid one of the carmaker's most challenging periods in recent years. One of her immediat

Jul 10, 2026By Lee Min-hyung
Mercedes-Benz Korea's new CEO tasked with recovering EV sales, corporate image
Banking & Finance

Major bank CEOs face pivotal test for potential reappointment

Leadership changes are looming at Korea's major commercial banks as the terms of all five CEOs expire at the end of the year, setting the stage for closely watched potential reappointment decisions, industry officials said Thursday. The terms for the CEOs of KB Kookmin, Shinhan, Hana, Woori and NH NongHyup banks all expire in December. Under the financial authorities' corporate governance guidelines, succession procedures should begin at least three months before a CEO's term expires, meaning that the selection process is expected to begin around September. This year, industry officials say earnings results alone are unlikely to determine who stays and who goes, with governance standards and leadership changes at parent financial groups also expected to play a role in the decisions. Bank CEOs typically serve two-year terms, with an additional one-year extension granted based on management performance. KB Kookmin Bank CEO Lee Hwan-ju is considered well positioned for another term after delivering solid financial results. The lender posted a net profit of 3.862 trillion won ($2.6 billion) i

Jul 10, 2026By Lee Hyo-jin
Major bank CEOs face pivotal test for potential reappointment
Tech & Science

Space Frontier Forum kicks off to draw attention to space startups

Korean space industry consulting firm SpaceRadar and venture capital firm STIC Ventures hosted the inaugural Space Frontier Forum on Thursday, creating a platform for space industry startups, researchers and policymakers to explore new opportunities. Under the theme, "Understanding and Growing the Space Industry Ecosystem Together," the forum brought together over 150 participants, including officials from Korean space companies, startups, the Korea AeroSpace Research Institute (KARI), the foreign ministry and venture capital firms. "For the space industry to grow, it is essential for companies, researchers and policymakers to communicate and collaborate," SpaceRadar CEO Park Si-soo said. "We hope today's forum will serve as the starting point." During the forum, participants discussed the latest trends and emerging opportunities in the private space industry. Established space companies, including KT SAT and Nara Space, shared their experiences, while Mirae Asset Capital and KARI delivered presentations on investment trends and the latest developments in the space sector. Nara Space CEO

Jul 9, 2026By Nam Hyun-woo
Space Frontier Forum kicks off to draw attention to space startups
Companies

Paradise City receives triple honors in France's La Liste Hotels 2026

Paradise City, an integrated resort complex on Yeongjong Island, Incheon, notched triple honors in the 2026 edition of France’s La Liste hotel rankings, with two of its properties making it into the world’s top 1,000 hotels and winning the Style & Design Hotel Award. Global restaurant, pastry shop and hotel guide La Liste announced this year’s list of top 1,000 hotels and Special Awards for hotels during an awards ceremony in Paris on Wednesday (local time). Art Paradiso, the resort’s lifestyle boutique hotel, made its debut on the list this year, earning a score of 93.5 and tying for sixth place globally alongside Paradise City. The boutique hotel also won the Style & Design Hotel Award 2026, a special distinction presented to hotels recognized for excellence in design, architecture and artistic identity. Only six hotels worldwide received the award this year, with Art Paradiso the only Korean property among the honorees. "The fact that Paradise City hotel and Art Paradiso were recognized together at La Liste Hotels 2026 is a meaningful achievement that demonstrates the competit

Jul 9, 2026By Lee Gyu-lee
Paradise City receives triple honors in France's La Liste Hotels 2026
Banking & Finance

Hana Financial's private reverse mortgage draws $220 mil. in 1st year

Hana Financial Group’s private reverse mortgage has attracted more than 330 billion won ($220 million) in subscriptions from over 260 customers since its launch a year ago, the group said Thursday. Introduced in May 2025, the product was designed to fill a gap in Korea’s reverse mortgage market, where government-backed programs dominate. A reverse mortgage allows older homeowners to convert part of the value of their home into a steady stream of income while continuing to live in the property. Because public reverse mortgages are unavailable for homes valued above 1.2 billion won, many seniors with high-value properties have had few options for unlocking housing wealth in retirement. Hana’s offering combines Hana Bank’s real estate trust service with a lifetime annuity from Hana Life. It also adopts a nonrecourse structure, ensuring customers receive pension payments for life even if the total amount ultimately exceeds the value of the property. To mark the product’s first anniversary, the group hosted an appreciation event for more than 50 customers at its Seoul headquarters o

Jul 9, 2026By Park Han-sol
Hana Financial's private reverse mortgage draws $220 mil. in 1st year
Tech & Science

Telecoms set for mixed Q2 as AI investment race looms

Major telecom companies — SK Telecom, KT and LG Uplus — are expected to report mixed second-quarter earnings, as diverging cost structures and one-off factors shape performance ahead of a broader push into artificial intelligence (AI) investments in the second half of the year. SK Telecom is expected to see a sharp rebound from the damage of its hacking incident last year and LG Uplus will see stable growth, while KT is expected to see earnings decline amid continued cost pressures. According to consensus forecasts compiled by FnGuide, the three telecom operators are expected to post combined second-quarter revenue of 15.2 trillion won ($10.1 billion) and operating profit of 1.45 trillion won. Revenue is forecast to rise 2.6 percent from a year earlier, while operating profit is expected to decline 12.7 percent, largely due to weaker performance at KT. SK Telecom is projected to post a sharp rebound in operating profit. Its estimated second-quarter revenue is at 4.41 trillion won, while operating profit is 527.9 billion won, up about 56 percent from a year earlier. The improvement lar

Jul 9, 2026By Lee Gyu-lee
Telecoms set for mixed Q2 as AI investment race looms
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