Posco Holdings reported a 48 percent on-year jump in third-quarter operating profit Monday, extending its earnings recovery for a third consecutive quarter as improving steel margins and stable energy operations helped offset weakness in battery materials. The steelmaker posted consolidated revenue of 19.14 trillion won ($14.2 billion), operating profit of 945 billion won and net income of 380 billion won. The results reflected progress in its "Triple Core" strategy, which focuses on steel, batt

LG CNS has completed a 30-megawatt artificial intelligence data center in Jakarta, Indonesia, marking the first overseas AI data center built by a Korean company for a foreign client, with its entire capacity booked before completion. The facility was commissioned last year by KMG, a joint venture between Indonesia's Sinar Mas Group and Korea Investment Real Asset Management. The project marks LG CNS' entry into overseas AI data center construction for third-party clients. Designed to support ne

Hyundai Motor Group's car-parking robots demonstrated Thursday how vehicles can be moved and rearranged in parking spaces without human intervention. The technology was demonstrated through a pilot project led by a consortium of Hyundai Motor, Hyundai WIA and Hyundai Engineering & Construction. It marks the first project in Korea to deploy parking robots across more than 50 parking spaces at an actual residential complex. Using the robots, residents can request vehicle transfers through wall-mou

Hyosung Heavy Industries is partnering with Germany's Siemens to develop digital power infrastructure and AI data center solutions. The company signed a Global Strategic Partnership Agreement with Siemens on Friday. The signing ceremony was attended by Industry Minister Kim Jung-kwan, German State Secretary Stefan Rouenhoff, Hyosung Heavy Industries CEO Woo Tae-hee and Siemens Korea CEO Chung Ha-joong. Under the agreement, the two companies will pursue cooperation in digital asset management, di

LS Cable & System will invest 350 billion won ($262 million) to build a rare earth magnet plant in Gumi, North Gyeongsang Province, forming part of the company's supply chain for defense, robotics and electric vehicles. The company said Thursday that its subsidiary Korea Motion Works signed a memorandum of understanding with North Gyeongsang Province and Gumi City to build the plant. The signing ceremony was attended by local lawmakers Koo Ja-geun and Kang Myung-gu, Governor Lee Cheol-woo and Gu

The American Chamber of Commerce in Korea held a seminar Thursday in partnership with local law firm Bae, Kim & Lee LLC to discuss the growing importance of personal data protection in corporate strategy and risk management. “Korea’s 2026 PIPA: What Global Companies Need to Know” examined key changes in the Personal Information Protection Act, which took effect on Sept. 11, as well as recent regulatory enforcement trends. The event was held at Bae, Kim & Lee’s Seoul office. “The growing movement

Coupang Logistics Service, a delivery service provider under retail giant Coupang, will invest approximately 42 billion won ($31 million) to build an AI-powered smart logistics center in Busan. CLS signed a memorandum of understanding with Busan Metropolitan City on Thursday to establish the facility in the port city. The agreement was signed at an investment promotion event for companies based outside the capital region. Under the MOU, CLS will create approximately 670 direct and indirect jobs,

Yanolja Go Global, the business-to-business unit of South Korean travel platform operator Yanolja Group, will participate in World Travel Market London 2026, a major international travel industry trade show. YGG plans to meet industry representatives, seek new clients and explore potential business partnerships at the event, which brings together travel agencies, hotels, tourism boards and travel technology companies. This year's event runs Tuesday to Thursday. YGG will showcase its travel indus

E-Mart opened its seventh store in Mongolia on Thursday at UG Arena in Ulaanbaatar. It plans to open an eighth store at Ulaanbaatar Department Store in November and expand its No Brand specialty store network to seven locations by year-end, further growing its presence in the Mongolian retail market. The 3,272-square-meter store is E-Mart's third mid-sized outlet in Mongolia since its market entry in 2016. Located on the first floor of UG Arena, it targets nearby residents and office workers as

SK Bioscience said Thursday it will join a Bundibugyo virus vaccine development project backed by up to $99 million from the US Department of Health and Human Services' Biomedical Advanced Research and Development Authority. The initiative, involving nonprofit research organizations IAVI and Hilleman Laboratories, has received $36 million in initial funding. The project addresses BDBV outbreaks in the Democratic Republic of the Congo and other areas. With no BDBV-specific vaccine or treatment av

Shinsegae Department Store is acquiring rival Lotte Department Store's Centum City branch in Busan, seeking to consolidate its dominance in the city's retail market and transform the district into a major shopping, tourism and entertainment destination. The retailer plans to integrate the Lotte property with its existing Shinsegae Centum City complex to create a sprawling commercial hub dubbed "Shinsegae Town." Opened in 2009, Shinsegae Centum City has become one of Korea's most successful depar

Gaon Cable, a subsidiary of LS Cable & System, has secured a 120 billion won ($90 million) cable supply deal with a global cloud provider in the US, capitalizing on surging demand for power infrastructure driven by the AI data center boom. The company said Wednesday that its US manufacturing subsidiary, LSCUS, will supply medium-voltage power distribution cables for multiple AI data center projects across the US from October through the first half of 2027. The deal marks the largest single-custo

OCI reported third-quarter revenue of 599.1 billion won ($451 million) and operating profit of 30.3 billion won Tuesday, supported by stronger semiconductor materials sales and higher carbon black prices. Its cumulative operating profit for the first nine months of the year reached its highest level since the company's 2023 spin-off. Revenue rose 12 percent from the previous quarter, driven by increased sales of semiconductor materials and pitch, as well as higher carbon black prices. Operating

Hyundai Motor ranked 29th in Interbrand's Best Global Brands 2026, with its brand value reaching $25 billion, the South Korean automaker said Wednesday. Hyundai, which first entered the global top 100 in 2005, ranked fourth among automotive brands. Interbrand cited its competitiveness in robotics and electrification, along with its strong presence in the US and Europe, as key drivers of growth. The automaker posted record revenue of 186.25 trillion won ($140 billion) last year, with annual US ve

Youngone Corporation has ended a more than four-year arbitration dispute over its acquisition of Swiss sports brand Scott, securing a refund of about 8.8 billion won ($6.6 million) in escrow funds. The South Korean apparel maker, which raised its stake in Scott to 96.71 percent last year, will recover the funds after an arbitral tribunal decided that it was not required to pay the remaining 25 percent of the acquisition price to former shareholder Beat Zaugg. According to a regulatory filing Tue