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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

    Starbucks Korea to close all stores early to carry out history training after 'Tank Day' promotion backlash

    1 MIN READBy Yonhap
    Starbucks Korea to close all stores early to carry out history training after 'Tank Day' promotion backlash
  • Companies

    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics

    1 MIN READBy Lee Min-hyung
    LG’s top execs to visit Nvidia headquarters for ties in AI, robotics
  • Tech & Science

    Korean battery makers accelerate push into US ESS market

    2 MIN READBy Lee Gyu-lee
    Korean battery makers accelerate push into US ESS market
  • Banking & Finance

    Woori Financial steps up productive finance with $6.5 bil. boost

    2 MIN READBy Lee Hyo-jin
    Woori Financial steps up productive finance with $6.5 bil. boost
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Companies

Ex-chairman of Namyang Dairy arrested over alleged breach of trust, false advertising

A former chairman of a major dairy company has been arrested on charges of breach of trust and false advertising related to a yogurt product's benefits against COVID-19.

Nov 29, 2024By Yonhap
Ex-chairman of Namyang Dairy arrested over alleged breach of trust, false advertising
Companies

Korean Air wins much-awaited EU approval to acquire Asiana Airlines

Korean Air’s high-profile acquisition of Asiana Airlines is nearing completion after the European Union's (EU) competition authority granted approval for the deal, Thursday.

Nov 28, 2024By Lee Min-hyung
Korean Air wins much-awaited EU approval to acquire Asiana Airlines
  • Controversy lingers over Air Busan
Companies

Lotte strives to secure liquidity

Lotte Group has recently been combating speculative rumors suggesting that Korea’s sixth-largest conglomerate may face a serious financial crisis soon. The group is expressing its confidence in its cashable assets, but market anxiety is growing because the group is simultaneously striving to secure liquidity through various measures.

Nov 28, 2024By Nam Hyun-woo
Lotte strives to secure liquidity
Companies

Supreme Court rules against Nexon in suit over deceptive practices on in-game items

The Supreme Court on Thursday ruled against Korean gamemaker Nexon in a suit over its alleged deceptive practices on in-game items, marking the first ruling of its kind.

Nov 28, 2024By Yonhap
Supreme Court rules against Nexon in suit over deceptive practices on in-game items
Banking & Finance

Card firms race to dominate postpaid Climate Card transit pass market

A postpaid all-inclusive monthly transit pass, which combines credit and debit card functions, will be available for use starting Saturday, according to the Seoul Metropolitan Government and card industry officials.

Nov 28, 2024By Jun Ji-hye
Card firms race to dominate postpaid Climate Card transit pass market
Companies

Heroic firefighters honored

S-Oil President Ryu Yul, fifth from left, and Korea National Council on Social Welfare Chairman Kim Seong-yee, fourth from left, pose with National Fire Agency Deputy Fire Commissioner Lee Young-pal, center, and awardees during a ceremony honoring heroic firefighters at Nine Tree Premier ROKAUS Hotel Seoul, Thursday. The oil refiner gave 20 million won ($14,300) in cash to Yoo Seung-geol, second from left, who was picked as the top hero firefighter, and offered 10 million won in cash to each of the seven other awardees. Since 2006, the company has supported injured firefighters and children of firefighters who died in the line of duty. Courtesy of S-Oil

Nov 28, 2024By Park Jae-hyuk
Heroic firefighters honored
Banking & Finance

'One-app' competition heats up as Woori launches new mobile platform

Woori Bank launched a mobile application integrating the services offered by Woori Financial Group's affiliates on Thursday, joining other financial institutions' move to allow customers to access all their financial services within a single application.

Nov 28, 2024By Jun Ji-hye
'One-app' competition heats up as Woori launches new mobile platform
Companies

Samsung replaces heads of battery, display, IT service units

Engineers were nominated to lead Samsung Electronics’ battery, display and IT service subsidiaries on Thursday, a day after their parent firm chose not to replace its three vice chairmen to ensure stability.

Nov 28, 2024By Park Jae-hyuk
Samsung replaces heads of battery, display, IT service units
Banking & Finance

Dunamu wins gov't recognition for information security disclosure

Dunamu, the operator of the country’s largest cryptocurrency exchange, Upbit, was awarded by the Ministry of Science and ICT for its efforts to enhance internal and external trust through active disclosure of information security.

Nov 28, 2024By Yoon Ja-young
Dunamu wins gov't recognition for information security disclosure
Companies

Renault improves fuel efficiency with E-Tech hybrid system

Renault Korea has focused on marketing fuel-efficient hybrid vehicles using both electricity and internal combustion engines amid the growing popularity of affordable eco-friendly cars among Korean drivers.

Nov 28, 2024By Park Jae-hyuk
Renault improves fuel efficiency with E-Tech hybrid system
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