South Korean stocks closed almost 1.5 percent lower Thursday as tech and financial shares sharply lost ground. The local currency was rising against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 37.64 points, or 1.45 percent, to close at 2,556.15. Trading volume was a little slim at 396.7 million shares worth 10.7 trillion won ($7.75 billion), with winners slightly outnumbering losers 473 to 401. Overnight, Wall Street finished lower on the losses of chip companies,

Posco International, the trading and energy arm of Posco Group, unveiled its first brand identity Thursday, presenting a new vision under the tagline, “We Find Answers Planet Wide.” The new identity reflects Posco International’s mission to seize the lead across diverse sectors, including steel, energy, food and emerging industries, while contributing to sustainable growth, CEO Lee Kye-in explained at the brand launch event, where he outlined the company’s ambitions for g

Hyundai Motor on Monday introduced a concept version of Initium, a hydrogen fuel-cell sport utility vehicle, adding a new chapter to its 27-year commitment toward renewable energy solutions. “The new addition to the hydrogen-powered SUV lineup will debut next year,” said Chang Jae-hoon, president and CEO of Hyundai Motor, at a press conference at Hyundai Motor Studio in Goyang, Gyeonggi Province. “Moving beyond mobility, we have introduced our hydrogen value chain business, H

HDC Hyundai Development Company, a leading South Korean real estate developer, said Thursday it has recently seen progress in its ongoing efforts for sustainable growth. HDC recently received an “A” rating in environmental, social and governance management from the Korea ESG Standards Institute, the highest rating in the construction sector. This improvement marks a one-grade increase from the previous year. Key advancements in governance included appointing a female outside director

HD Hyundai Oilbank, one of the nation’s top refiners, announced Thursday that its gas and charging stations will offer customers the chance to win instant rice made from freshly harvested grains. Starting Friday, customers who spend over 40,000 won ($29) at gas stations or more than 20,000 won at charging stations can enter a raffle. Only those with a Bonus Card -- a loyalty card that offers points and benefits -- are eligible. Winners will receive a bundle of three instant rice packs, mad

The world’s first wireless and transparent OLED TV and a premium built-in appliance introduced by LG Electronics have been selected among the 200 best inventions of the year by Time magazine. The transparent OLED TV, dubbed LG Signature OLED T, was included in the consumer electronics criteria, according to industry sources on Thursday. “The TV’s always-on-display feature can display ever-changing artwork, or you can turn it off to simply look like a pane of glass,” the m

Korean automaker Kia said Thursday that it has donated a 2025 Carnival, the automaker's latest edition of its signature nine-seat minivan, to the parents of quintuplets in Dongducheon, Gyeonggi Province. The quintuplets -- two girls and three boys -- were born Sept. 20. The automaker also donated 30 million won ($21,800) to the city of Dongducheon to support households with more than one child, as the country struggles with a low birth rate. (Hyundai Motor Group)

The US burger franchise Five Guys is set to launch its first delivery service in South Korea, enabling more customers to enjoy its menu at their convenience, its Korean operator FG Korea announced Thursday. Starting Friday, the service will be available through one of the nation's biggest food delivery platforms, Coupang Eats, served by two locations in Seoul: Gangnam and Seoul Station. This marks the first time the popular chain has offered delivery in Korea since its launch last year, and

SINDELFINGEN, Germany -- A bright orange Mercedes EQS 450 electric sedan sped down a spotless track, reaching 64 kilometers per hour before slamming into a massive concrete wall. The front end crumpled like a soda can, but a bright ring of 72 lights immediately illuminated the wreck as high-speed cameras captured every millisecond from all angles. On Oct. 22, Mercedes let a group of reporters from South Korea witness a full-scale crash test up close at its Vehicle Safety Technology Center in S

In response to South Korea’s surging appetite for luxury SUVs, Volkswagen is doubling down with an upgraded Touareg that emphasizes advanced technology and understated elegance. Launched in August, the third-generation 2024 Touareg positions Volkswagen to compete in a market where SUVs now dominate imported car sales, driven by demand for both versatility and premium features. The third-generation 2024 Touareg has received a subtle design makeover that focuses on clean lines and understate

Juliette Biao, director of the United Nations Forum on Forests Secretariat, describes South Korea’s forest policy as a global model of successful reforestation and sustainable forest management, achieved through a balance of scientific methods and community-based efforts. “Korea’s forest policy is one of the great examples of success in conservation, reforestation, and sustainable management. Since the mid-20th century, the country has transformed degraded landscapes into well-

Bentley Motors Korea launched two of its most powerful and luxurious coupes in the Korean market: the fourth-generation Continental GT Speed and the Continental GTC Speed, its convertible counterpart, at Bentley Seoul Gangnam on Wednesday. The new Continental GT Speed is the most powerful street-legal vehicle in Bentley's history -- a term used for extremely high-performance cars that are still legal to drive on regular roads, unlike racing cars. Bentley has equipped both models with a plu

South Korean stocks kicked off sharply lower Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite S tock Price Index (Kospi) lost 33.62 points, or 1.3 percent, to 2,560.17 in the first 15 minutes of trading. Overnight, Wall Street finished lower, with the Dow Jones Industrial Average down 0.22 percent, the tech-heavy Nasdaq composite down 0.56 percent and the S&P 500 down 0.33 percent, as chip companies, including Advanced Micro Devices and Nvidia, lost ground. I

South Korea's industrial output fell from a month earlier in September on dwindling production in the semiconductor and other manufacturing sectors, data showed Thursday. Retail sales, a gauge of private spending, also went down amid signs of weaker economic growth, while facility investment rebounded on-month, according to the data compiled by Statistics Korea. Industrial production fell 0.3 percent on-month, following a 1.2 percent increase in August. In on-year terms, industrial output w

Mercedes-Benz Korea CEO Mathias Vaitl (right) and Kim Nam-kyun, president of the Korea Electrotechnology Research Institute, pose for a photo during a signing ceremony for a memorandum of understanding in Seoul on Tuesday, during which the two agreed to set up a joint research center on EV charging systems, called the Global Interoperability Test Center. “As the electric vehicle market continues to evolve, expanding charging infrastructure and creating a standardized testing environment ar

Seoul shares ended lower Monday, snapping a three-day rally as tech and battery stocks slumped due to foreign selling. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 24.01 points, or 0.92 percent, to close at 2,593.79, marking its first drop in four trading sessions. Trade volume was moderate, with 476.4 million shares worth 8.76 trillion won ($6.3 billion) changing hands, as decliners outnumbered gainers 514 to 350. Foreign investors sold a net 3

South Korean retail giant Shinsegae Group on Wednesday announced a structural revamp dividing its flagship retail business into two companies, E-Mart and Shinsegae Department Store, making official the sibling leadership that for years has formed part of the founding family’s succession plan. In an executive reshuffle, Chung Yu-kyung, president and younger daughter of Chairwoman Lee Myung-hee, was promoted to chair to lead the department store business Shinsegae Inc. Her elder brother Chun

Mobile carriers are strengthening their severance packages to encourage early retirement amid efforts to renew their business portfolio and restructure stagnant workforce. Kicking off voluntary redundancy, KT Corp., the country's second-largest telecommunication company, recently raised the maximum severance pay for voluntary redundancy, from 330 million won ($238,000) to 430 million won. Earlier this month, the mobile carrier decided to establish two new affiliates, KT OSP and KT P&M,

Nexon has laid out a future roadmap to strengthen its existing gaming intellectual properties and develop new IPs to target the global market. “In this way, we will further advance Nexon's strong capabilities based on our experience and focus on providing innovative gaming services to users,” said Kang Dae-hyun, co-CEO of Nexon Korea, in a press conference at the company’s headquarters in Pangyo, Gyeonggi Province, on Wednesday. Nexon Korea is wholly owned by Tokyo-listed

Samsung SDI unveiled details on its first electric vehicle battery production in the US in partnership with Stellantis and General Motors during its third-quarter earnings announcement Wednesday. “The joint venture with Stellantis, Starplus Energy, marks Samsung SDI’s first foray into battery cell manufacturing in the US,” said Son Michael, executive vice president of automotive & ESS business at Samsung SDI, during a conference call earlier in the day. “The initial p