Hyundai Motor Hyundai Motor Group, which withdrew from the Japanese car market in 2009 due to lukewarm sales, has been hinting at a grand comeback to the market since last year. “For the last 12 years, we have mulled over (ways to foray into Japan again,)” said Chang Jae-hoon, CEO of Hyundai Motor Group, during a press conference held in Tokyo, on Feb. 8, 2022. “The Japanese market gives us opp...

Samsung Electronics said Tuesday its retail store brand Samsung Digital Plaza will be renamed as Samsung Store from Wednesday – the first revamp since the brand was launched in 2000. In addition to some 360 retail stores nationwide, all shops within department stores and large supermarket chains will also carry the new name, the company said. Samsung said the rebranding aims to liven up its cor...

SK Inc. Materials, an advanced materials unit under South Korea’s SK Group, said Tuesday it is making an additional investment into 8 Rivers, a US clean energy tech firm specialized in developing carbon capture, utilization and storage (CCUS). With the planned investment, the Korean firm is expected to become the largest shareholder of 8 Rivers. Under the renewed partnership, the two firms are s...

IT giant Kakao on Tuesday announced a tender offer for SM Entertainment’s shares held by minority shareholders at a price higher than what Hybe previously offered amid an intensifying race to win over the management rights of the K-pop powerhouse. Kakao and its subsidiary Kakao Entertainment offered 150,000 won ($115.55) per share with a goal to additionally secure up to 35 percent (some 8.3 bil...

South Korea's economic growth sharply slowed in 2022 as exports weakened amid growing recession woes stemming from aggressive monetary tightening at home and abroad, central bank data showed Tuesday. South Korea's gross domestic product -- a major gauge of growth -- expanded 2.6 percent in 2022, compared with a 4.1 percent advance tallied in the previous year, according to the preliminary data f...

If Pak is elected as a new board member during the meeting scheduled for March 29, she is expected to become the second female outside director to serve at the five-member board at SK Inc. SK also looks to change its dividend record date at the meeting so that investors can decide whether to buy shares by looking at the determined dividend amount. While the current articles of association set t...

South Korean steel giant Posco said Monday it is teaming up with North Gyeongsang Province for recovery efforts in the areas inflicted by Typhoon Hinnamnor last year. Officials of Posco and the local government signed an agreement in Andong, the provincial capital, earlier in the day, with Posco Vice Chairman Kim Hak-dong in attendance. Under the agreement, Posco will supply resources, includin...

South Korean department store franchise Hanwha Galleria announced Monday that it is opening the first Korean store of US burger chain Five Guys in southern Seoul at the end of June this year. Five Guys is an American fast-food chain with over 1,800 stores across 23 countries. The upcoming Seoul opening is its sixth launch in Asia. The first Korean store, a two-story building with a total of 150...

SM warns Hybe not to attempt block deal with agency's shareholders, citing illegality

Seoul to suspend temporarily WTO lawsuit against Tokyo’s export restrictions of key industrial materials

Samsung Electronics said Monday it showcased an outdoor advertisement for its upcoming 2023 TV lineup, including its Neo QLED 8K TV, at Piccadilly Circus, London, on Thursday. The ad highlighted the new Neo QLED TV's bright and colorful picture quality, as well as its impressive sound features. Samsung will roll out the 2023 TV products both in Korea and abroad starting March 9.

No immediate impact expected in easing inventory woes, but potential seems huge depending on marketability of big generative AI services

SK Group said Monday that Chairman Chey Tae-won met with major business leaders in Spain, Portugal and Denmark to strengthen cooperation in green energy during his recent visit to Europe as a presidential special envoy. Chey had a meeting with Danish wind turbine company Vestas Chief Executive Officer Henrik Andersen on Thursday to discuss ways to expand the two sides’ cooperation in the offshor...

South Korean confectionery company SPC Samlip said Monday it has signed an agreement with Siam Makro, an affiliate of Thailand’s largest conglomerate CP Group, to make a foray into the Thai bakery market. This is the first time that the Korean firm has teamed up with a local company for overseas operations. Under the agreement, the two companies will set up a joint venture for both production an...

More than 90 percent of real estate experts predicted a decline in housing prices this year, while 1 in 2 said the housing market could see a rebound next year, according to a KB Financial Group report released Sunday. The report said transaction prices of houses nationwide fell 1.8 percent last year, a first in 10 years. Daegu showed the highest decline with 5.2 percent, followed by Daejeon wit...