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  • Companies

    Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids

    The Fair Trade Commission (FTC) has rejected self-correction proposals from the country's top two food delivery platforms, Baedal Minjok, informally known as Baemin, and Coupang Eats, paving the way for fines that could amount to tens of billions of won over allegations that they abused their market dominance, the antitrust watchdog said Thursday. The regulatory authority rejected the companies’ applications for a consent decree — a mechanism that allows firms to resolve antitrust cases without admitting liability by offering voluntary remedies — ruling that they did not meet the legal requirements to initiate such a settlement process. The fines expected to be imposed on Baemin and Coupang are estimated at 239 billion won ($157 million) to 510 billion won, and 25 billion won to 42 billion won, respectively. Following the latest decision, the watchdog will resume its formal review to determine the illegality of the practices and the scale of sanctions. The watchdog’s probe into the two companies has focused on finding alleged anti-competitive practices, including unfair treatment

    2 MIN READBy Lee Min-hyung
    Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids
  • Companies

    POSCO accelerates low-carbon steel transition with Korea’s largest electric arc furnace

    2 MIN READBy Lee Gyu-lee
    POSCO accelerates low-carbon steel transition with Korea’s largest electric arc furnace
  • Banking & Finance

    All-in-one apps emerge as new battleground among financial groups

    1 MIN READBy Lee Hyo-jin
    All-in-one apps emerge as new battleground among financial groups
  • Companies

    BMW Korea launches iX3 electric SUV with revamped design

    2 MIN READBy Lee Min-hyung
    BMW Korea launches iX3 electric SUV with revamped design
  • Companies

    Meritz's funding condition pushes Homeplus closer to bankruptcy

    3 MIN READBy Jun Ji-hye
    Meritz's funding condition pushes Homeplus closer to bankruptcy
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Companies

Financial watchdog orders Hanwha Solutions to submit revised share issue plan

Korea's financial regulator on Thursday ordered Hanwha Solutions to submit a revised filing over its plan to issue 2.4 trillion won ($1.6 billion) worth of shares, citing insufficient information. The Financial Supervisory Service said in a regulatory filing that the company's securities registration statement failed to meet formal requirements or contained unclear or missing information on key matters. As a result, the filing has not been accepted, and its effectiveness has been suspended. If Hanwha Solutions fails to submit a revised filing within three months, the registration will be deemed withdrawn. Hanwha Solutions, the energy solutions arm of chemicals-to-shipbuilding conglomerate Hanwha Group, said it will take the regulator's order seriously and prepare a revised filing that reflects feedback from shareholders and the media. The company announced the large-scale rights offering plan on March 26 to repay debt, drawing criticism over the decision-making process and the purpose of the capital increase. Hanwha Solutions said the move was necessary to improve its financial structure

Apr 9, 2026By Yonhap
Financial watchdog orders Hanwha Solutions to submit revised share issue plan
Companies

Hanwha Aerospace halts review of Poongsan's ammunition unit acquisition

Hanwha Aerospace, Korea's leading defense systems manufacturer, said Thursday it has halted its review of acquiring the ammunition business of Poongsan. In a regulatory filing, Hanwha Aerospace said it has been continuously exploring various business opportunities, including Poongsan's ammunition division, to strengthen its defense capabilities and enhance corporate value, but has decided to stop its review of acquiring Poongsan's business. The disclosure came after a local media last week suggested Hanwha was likely to acquire Poongsan's ammunition business as part of efforts to integrate its weapons and munitions operations. Poongsan is Korea's leading producer of copper alloy and ammunition.

Apr 9, 2026By Yonhap
Hanwha Aerospace halts review of Poongsan's ammunition unit acquisition
Companies

CJ CheilJedang, Binggrae among 145 firms to lead Korea's food exports

CJ CheilJedang and Binggrae have been selected for the government’s new food export initiative, "Global Next K-Food," along with 143 other companies, according to the Ministry of Agriculture, Food and Rural Affairs, Thursday. CJ CheilJedang, the food subsidiary of CJ Group, will share its global market network with small- and medium-sized breweries as part of a consortium aimed at jointly boosting exports of Korean liquor products. The move comes as the ministry begins restructuring the country’s food export channels by linking large companies with small- and medium-sized enterprises (SME) that lack global market access and networks. The collaboration will enable four wineries and breweries specializing in rice-based traditional liquors, including Danong Bio and Moonbaesool, to export their products to premium restaurants in North America through CJ’s existing distribution channels. Binggrae will help two food SMEs export their halal-certified products to Muslim markets across Southeast Asia. Leveraging popular K-food items such as rice cake stir-fried with red hot pepper paste, ba

Apr 9, 2026By Ko Dong-hwan
CJ CheilJedang, Binggrae among 145 firms to lead Korea's food exports
Banking & Finance

KakaoBank signs MOU with Mongolia's largest telecom operator

KakaoBank has signed a memorandum of understanding (MOU) with Mongolia’s MCS Group, taking a step toward expanding its footprint in Central Asia, the company said Thursday. MCS Group is one of Mongolia’s leading conglomerates, with subsidiaries spanning telecommunications, finance and engineering. It also operates M Bank, the country’s only digital bank. The agreement, signed April 3 at KakaoBank’s headquarters in Pangyo, Gyeonggi Province, details plans for a strategic equity investment in M Bank, as well as the joint development of alternative credit-scoring models tailored to local financial conditions. Speaking at a press conference, Wednesday, KakaoBank CEO Yun Ho-young described the partnership as “a meaningful step in bringing KakaoBank’s inclusive finance model to the global stage,” following the company’s expansion into Indonesia and Thailand. Mongolia possesses strong growth potential for digital finance, supported by high internet penetration and state-led efforts to expand financial infrastructure, KakaoBank said. At the same time, its young population, with a

Apr 9, 2026By Park Han-sol
KakaoBank signs MOU with Mongolia's largest telecom operator
Companies

Kia to invest $33 bil. by 2030 to boost future mobility competitiveness

Kia, Korea's second-largest automaker, said Thursday it will invest 49 trillion won ($33 billion) in facilities and research and development (R&D) through 2030 to strengthen its position in future mobility. The planned investment for 2026-2030 represents an increase of 7 trillion won from the previous five-year plan, with 43 percent allocated to electrification, autonomous driving and robotics, the company said in a statement. Kia aims to expand its electric vehicle (EV) lineup from 11 models in 2026 to 14 by 2030, targeting global EV sales of 1 million units despite a prolonged industry slowdown. At the same time, the company will continue to broaden its internal combustion engine and hybrid electric vehicle (HEV) offerings to offset weak EV demand. HEVs include both conventional gasoline hybrids and plug-in hybrid models. Among upcoming models is an extended-range electric version of the Tasman pickup, built on a body-on-frame platform, which is scheduled for launch in the U.S. market in 2030. To meet future EV demand, Hyundai Motor Group — which includes Kia and its larger affiliate

Apr 9, 2026By Yonhap
Kia to invest $33 bil. by 2030 to boost future mobility competitiveness
Companies

Hanwha Aerospace signs MOU with Indra Group for Latin American defense cooperation

Hanwha Aerospace has signed a memorandum of understanding (MOU) with Spain’s Indra Group to jointly offer armored vehicle solutions for the Chilean Army and expand cooperation across Latin America. The signing ceremony was held during the FIDAE 2026 International Air and Space Fair in Santiago, Chile, on Wednesday (local time). Attendees included Kim Dong-hyeon, head of Hanwha Aerospace’s Land Systems Business Group; Domingo Castro Fernandez, Indra’s director of Defense and Security for the Americas; Maria Dolores Carrillo Aguilera, Indra’s business development director for Land Systems; and Kim Hak-jae, Korea’s ambassador to Chile. Under the agreement, the companies will jointly propose a combined solution for Chile’s next-generation armored vehicle program. Hanwha Aerospace will provide its Tigon armored vehicle platforms, while Indra will supply mission system equipment — including connectivity, situational awareness and command-and-control capabilities — and act as regional coordination lead. Beginning with Chile, the partners aim to expand cooperation in ground defen

Apr 9, 2026By Lee Min-hyung
Hanwha Aerospace signs MOU with Indra Group for Latin American defense cooperation
Companies

POSCO draws backlash over plan to directly hire subcontracted workers

Controversy is growing over POSCO’s plan to directly hire around 7,000 subcontracted workers performing manual labor at its plants in Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province. While existing employees criticized the decision as unfair and voiced concerns that the company would cut welfare benefits to offset higher labor costs, subcontracted workers claimed they would continue to face wage discrimination even after being directly hired. “Management should not overlook our efforts to join the company or the value of each employee’s work,” the leader of POSCO’s regular workers’ union said after the company announced the plan Wednesday. “We will not accept any reduction in welfare benefits as the number of employees increases.” Some employees expressed frustration. “Hardworking staff have become discouraged and are considering leaving the company,” one employee wrote on Blind, an anonymous social media platform for verified workers. POSCO said the move is intended to halt the long-standing practice of outsourcing dangerous work and to conclude

Apr 9, 2026By Park Jae-hyuk
POSCO draws backlash over plan to directly hire subcontracted workers
Companies

LG CNS unveils next-gen AI ERP strategy with SAP

LG CNS said Thursday it is accelerating artificial intelligence (AI) transformation (AX) by integrating artificial intelligence into enterprise resource planning (ERP) systems in partnership with SAP. The company said it co-hosted the Business AI for ERP Summit in Seoul on Wednesday, where it unveiled a next-generation ERP transformation strategy based on SAP Business AI. About 200 participants from manufacturing, logistics, retail and telecommunications industries attended the event. SAP Business AI embeds AI into ERP systems that manage finance, procurement, production and supply chains, enabling automation of repetitive tasks and supporting data-driven decision-making. The technology allows AI to handle routine operations previously performed by employees and rapidly provide insights for management decisions. LG CNS said it is strengthening its technological capabilities through collaboration with SAP to gain an early foothold in the AI-based ERP market. Since last year, the company has trained specialists in cooperation with SAP’s Asia-Pacific unit and earlier this year launched a

Apr 9, 2026By Lee Gyu-lee
LG CNS unveils next-gen AI ERP strategy with SAP
Banking & Finance

Banks advised to enhance risk management on surging ETF sales

The country's financial watchdog called on local lenders Thursday to heighten their risk management for exchange-traded funds (ETFs) and prevent the misselling of such products amid a recent surge in sales of the financial products. The Financial Supervisory Service (FSS) said sales of ETFs by banks to their customers have been on a sharp rise in tandem with a bull run on the local stock market. The banks' combined ETF sales amounted to 15.1 trillion won ($10.2 billion) in the first two months of the year, over three times higher than the 4.9 trillion won tallied over the first six months of last year, according to the FSS. The local stock market, however, recently saw large fluctuations due to the conflict in the Middle East, exposing underlying assets for the financial products to severe volatility. The financial watchdog stressed that banks need to well inform their customers of potential risks tied to the ETF products and also heighten their internal control.

Apr 9, 2026By Yonhap
Banks advised to enhance risk management on surging ETF sales
Companies

HD Hyundai completes world’s 1st ammonia-fueled tankers

HD Hyundai Heavy Industries (HHI) said Thursday it has completed construction of two ammonia-fueled tankers for a Belgian ship operator, marking a milestone for eco-friendly shipping. The two liquefied gas tankers, named Antwerpen and Arlon after Belgian cities, were built for EXMAR LPG France, a subsidiary of Belgium-based floating solutions developer EXMAR. The vessels are part of four medium-sized ammonia-propelled gas carriers ordered in 2023 and 2024 and are scheduled for delivery in May and July. Each ship measures 190 meters in length, 30.4 meters in width and 18.8 meters in height, with a cargo capacity of 46,000 cubic meters. The dual-fuel vessels are equipped with three cargo tanks capable of carrying liquefied petroleum gas, ammonia and other liquefied gases. They also feature shaft generators and selective catalytic reduction systems to reduce carbon emissions, while ammonia gas detectors and purge recovery units enhance safety against potential leaks. The naming ceremony was held at the company’s shipyard in Ulsan, attended by around 70 officials, including Joo Won-ho, pr

Apr 9, 2026By Ko Dong-hwan
HD Hyundai completes world’s 1st ammonia-fueled tankers
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