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  • Companies

    Carmakers intensify rivalry in SDVs

    Global automakers are shifting the competitive battleground in Korea from traditional hardware to software-defined vehicles (SDVs), as cutting-edge operating systems and in-vehicle artificial intelligence (AI) functions emerge as key differentiators in an era of connected cars. The trend is visible, as a wave of new models launched this year are positioning advanced software capabilities as their definitive selling points. They include Hyundai Motor’s Grandeur, BMW Korea’s iX3, Toyota Motor Korea’s RAV4 and Zeekr’s 7X. Toyota is the latest carmaker to join the SDV competition. Last week, the Japanese carmaker launched its six-generation RAV4 flagship SUV built on its foundational SDV platform, Arene. Of particular note is that Toyota collaborated with LG Uplus to integrate tailored connected-car services to adapt the vehicle for the tech-savvy Korean market. The telecom operator also identifies the automotive infotainment as its next key growth driver. European and Chinese competitors are also raising the stakes with high-performance computing hardware. BMW Korea’s recently laun

    2 MIN READBy Lee Min-hyung
    Carmakers intensify rivalry in SDVs
  • Companies

    Inside the net-zero push uniting Korea's tire and auto parts giants

    2 MIN READBy Lee Kyung-min
    Inside the net-zero push uniting Korea's tire and auto parts giants
  • Companies

    Foreign repeat visits to ‘Olive Young Sale’ surge 11-fold in 3 years

    2 MIN READBy Ko Dong-hwan
    Foreign repeat visits to ‘Olive Young Sale’ surge 11-fold in 3 years
  • Companies

    SK hynix beats Samsung Electronics in market cap

    1 MIN READBy Yonhap
    SK hynix beats Samsung Electronics in market cap
  • Companies

    Why foreign shoppers are flocking to this Seoul lifestyle store

    2 MIN READBy Lee Kyung-min
    Why foreign shoppers are flocking to this Seoul lifestyle store
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Banking & Finance

Martial law fallout to add to uncertainty in FX market

The won-dollar exchange rate is anticipated to continue destabilizing in the aftermath of the short-lived martial law declared by President Yoon Suk Yeok on Tuesday night, as political chaos heightens uncertainties in the currency market, according to analysts Wednesday.

Dec 4, 2024By Yi Whan-woo
Martial law fallout to add to uncertainty in FX market
  • Korean financial market endures fallout of short-lived martial law fiasco
Companies

Foreign companies remain vigilant amid Korea's political turmoil

President Yoon Suk Yeol’s unexpected martial law declaration on Tuesday, followed by its lifting about six hours later, baffled foreign companies doing business in Korea. As a result, many companies rescheduled their events here and advised employees to work from home.

Dec 4, 2024By Park Jae-hyuk
Foreign companies remain vigilant amid Korea's political turmoil
Tech & Science

Smilegate invests in Grand Theft Auto producer's studio

Smilegate, the developer of hit first-person shooter game CROSSFIRE, announced on Wednesday its strategic investment in Absurd Ventures, a U.S.-based media and entertainment studio led by Dan Houser, who is renowned for his role as the producer of the Grand Theft Auto series.

Dec 4, 2024By Nam Hyun-woo
Smilegate invests in Grand Theft Auto producer's studio
Companies

AMCHAM explores future of Korea's patient-centered health care system

The American Chamber of Commerce in Korea (AMCHAM) hosted the 15th annual AMCHAM Healthcare Innovation Seminar on Tuesday to discuss ways to collaborate for the future of Korea’s health care system with businesspeople, lawmakers and government officials of both countries.

Dec 4, 2024By Park Jae-hyuk
AMCHAM explores future of Korea's patient-centered health care system
Tech & Science

'Domain-specific translation necessary for AI era'

With various artificial intelligence (AI) agents assisting in our daily work, one of the most frequently used services is translation or interpretation, especially when working on official documents that require precision and a thorough understanding of terminology specific to the relevant fields.

Dec 4, 2024By Nam Hyun-woo
'Domain-specific translation necessary for AI era'
Tech & Science

Internet portal services normalized after disruptions following martial law declaration

Services of South Korean online portal Naver, which had experienced disruptions following President Yoon Suk Yeol's unexpected martial law declaration, have normalized, according to industry sources Wednesday.

Dec 4, 2024By Yonhap
Internet portal services normalized after disruptions following martial law declaration
Companies

Kia targets annual sales, operating profit margin of over 10 percent for next 3 years

Kia, Korea's second-largest automaker, on Tuesday announced ambitious financial targets for the next three years, aiming for an average annual sales growth rate and operating profit margin of over 10 percent.

Dec 3, 2024By Yonhap
Kia targets annual sales, operating profit margin of over 10 percent for next 3 years
Companies

Korean Air to finalize controlling-share acquisition of Asiana Airlines next week

Korean Air said Tuesday it will finalize its acquisition of a controlling share in rival Asiana Airlines next week, completing the merger deal between Korea's leading carriers that has been sought over the past four years.

Dec 3, 2024By Yonhap
Korean Air to finalize controlling-share acquisition of Asiana Airlines next week
  • Controversy lingers over Air Busan
Companies

Hanwha Systems bags 205 billion won deal for Army weapon system maintenance

Hanwha Systems, a defense electronics and ICT solutions unit under Hanwha Group, said Tuesday it has secured a contract worth 205 billion won ($146.2 million) with the Korean arms procurement agency to provide maintenance support for an Army weapon system.

Dec 3, 2024By Yonhap
Hanwha Systems bags 205 billion won deal for Army weapon system maintenance
Banking & Finance

MBK denies allegations of using confidential info in Korea Zinc bid

MBK Partners, one of the largest private equity firms in Asia, denied allegations, Tuesday, that it used confidential internal documents belonging to Korea Zinc in its attempt to take over the world’s largest zinc smelter. The documents had been provided two years ago for a new investment initiative.

Dec 3, 2024By Jun Ji-hye
MBK denies allegations of using confidential info in Korea Zinc bid
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