The official Starbucks Korea mobile application was hacked on Monday, resulting in the theft of approximately 8 million won ($6,300) from the in-app cards of some 90 customers. A recent post from someone on an online forum alleged that unauthorized payments worth a total of 2.8 million won were made in one day via their Starbucks app in 11 separate transactions, both online and in-store. "A payment of 300,000 won was made online from my account linked to the Starbucks app, then an additiona

Hunetplus, a next-generation semiconductor and display materials company, said Thursday that it has successfully developed a deposition mask for OLED display panel fabrication using organic and inorganic hybrid materials. Conventional deposition masks used in OLED displays, also known as fine metal masks, are metallic plates that deposit light-emitting organic materials to an accurate location on a substrate during the OLED display manufacturing process. By doing so, they ensure the precise depo

South Korean battery materials company EcoPro said Thursday it will invest 2 trillion won ($1.6 billion) in an industrial complex in Pohang, North Gyeongsang Province, to boost an ecosystem for developing cathode materials for rechargeable batteries. The company signed a memorandum of understanding with the city and provincial governments. The 2 trillion-won funding is the city’s largest-ever single deal secured. Under the agreement, EcoPro plans to invest 2 trillion won over a period of f

Bacardi Korea, the leading rum brand in South Korea, will be launching its "Do What Moves You" (DWMY) campaign in collaboration with artists Toil and Skinny Brown from record label Daytona Entertainment. Marking the third DWMY campaign in Korea, this year’s campaign is targeted at the younger MZ audience -- an acronym for millennial and Generation Z -- who strive to express themselves confidently and unapologetically without being swayed by others' opinions. The campaign wil

Posco Holdings has set a goal of achieving 62 trillion won ($48 billion) in sales of secondary battery materials by 2030 by expanding its raw material production capacity, it said Tuesday. During its Posco Group Secondary Battery Materials Business Value Day, the firm announced the new goal, which is a 51 percent increase compared to the announced target last year of 41 trillion won. The raw materials it plans to expand production include lithium and nickel as well as next-generation, cathode an

Some 200 experts from the biofuel, petroleum refinery and automaking industries gathered to attend the 2023 International Green Fuels Symposium on Tuesday to evaluate sustainable fuel market trends and examine related policies in the country. Under the theme “The Role of Green Fuels in Realizing 2050 Carbon Neutrality," the event was hosted by the Korea Automobile Journalists Association, the US Embassy in South Korea and the US Grains Council. Lawmakers, government officials and ac

Coway has once again been recognized as one of South Korea’s best brands, marking a ninth consecutive year, by leading global brand consultancy Interbrand. "We are committed to developing innovative products and services to enhance daily convenience by leveraging our technological capabilities and expertise," the company said. "As a global life solutions company with goals to expand beyond Korea, we will continue to enhance our brand value." Every year, Interbrand condu

Yun Seog-dae, CEO of Korea Water Resources Corp., also known as K-water, has been named the fourth chairman of the Asia Water Council during the council’s general meeting held in Hwaseong, Gyeonggi Province, last week. He will serve his three-year term until 2026. "I am very honored to be elected chairman of AWC, a representative joint water platform in Asia. I understand the great responsibility that comes with being elected at a time when we face the major challenge of solving globa

Although various business models such as the business-to-consumer, or B2C, model have consistently trended in South Korea, they are not always an attractive choice for foreign investors for several reasons, such as the limited size of the domestic market, competition in logistics management and decreased profitability. As these issues are becoming widely recognized, there have been efforts from companies to revamp existing B2C platforms into global B2B, or business-to-business, platforms. As the

SK Bioscience said Wednesday it has signed a business agreement with a state-owned pharmaceutical company in Thailand to boost vaccine production and vaccine development infrastructure in the Southeast Asian country. Under the agreement, SK Bioscience and Thailand's Government Pharmaceutical Organization will cooperate in the long term to strengthen Thailand’s response system against new pandemics and localize the country’s vaccine manufacturing capabilities. These efforts will

The Korea Automobile Journalists Association, the US Embassy in South Korea and the US Grains Council are set to co-host the 2023 International Green Fuels Symposium on July 11 at the Four Seasons Hotel in Jongno-gu, Seoul. Sponsored by the South Korean Ministry of Land, Infrastructure, and Transport, the Ministry of Environment, and the Korea Biofuels Forum, this year’s theme is “The Role of Green Fuels in Realizing 2050 Carbon Neutrality”. The event will explore recent global

Hana Financial Group said Monday it is working together with Binus University, a prestigious private university in Indonesia, to foster global talent in the financial sector. Under the partnership agreement signed in Seoul on Friday, Hana Financial Group will provide opportunities for Indonesian university students to work as interns at Hana offices starting in the second half of this year. Binus University plans to operate the International Talent Pool Management program, which provides credits

South Korea and Spain are teaming up to conduct joint research on smart manufacturing and future mobility as part of their agreement signed last year to bolster technology ties, according to the Korea Institute for the Advancement of Technology, an institution affiliated with the Ministry of Trade, Industry and Energy, on Sunday. In November last year, the two countries set up an industrial technology partnership committee and discussed possible areas for collaboration. As a follow-up to the agr

SK Group’s pharmaceutical arm, SK Biopharmaceuticals, said Friday that it has decided to acquire a 60 percent stake, or 40 million shares, in US biotech company Proteovant Therapeutics for 62 billion won ($47 million). This deal size is equivalent to 19.6 percent of the Korean company’s total equity capital. Established in New York in 2021, Proteovant Sciences is a 60:40 joint venture between Swiss biotech company Roivant Sciences and SK Group. SK Biopharmaceuticals expects that the

Hyundai Steel has renewed its commitment to achieving its carbon neutrality goal by launching its own low-carbon steel brand, HyECOsteel, the first of its kind in the nation’s steel industry. The steelmaker said Thursday it will be ramping up marketing activities targeting automotive and shipbuilding industries around the world where calls are growing for eco-friendly efforts. The renewed marketing push comes after the company unveiled in April its carbon neutrality road map to reduce carb

Yamaha Motor Company has been a pioneer in making motorcycles safer and more convenient by developing and incorporating cutting-edge electronic safety equipment. In particular, the all-new XMAX 300 sports scooter, recently released in South Korea under the distributor Hankook Motor Company, touts such innovative technology, making it a viable option for riders who want to be safer on the road. The vehicle comes with an anti-lock brake system and a traction control system, Yamaha said, which inst

Uptown Cocktails, a leading cocktail brand in the US, has hit the Korean market with its high-quality products with vibrant designs while delivering a memorable taste. Southern Champion, the brand’s producer, and The IB Korea, the wholesale retailer for the brand, have brought the Uptown Margarita, Blue Hawaiian and Pina Colada flavors to South Korea, which are now available for purchase. Another flavor, Caribbean Punch, will also be available in the second half of the year. Uptown Margari

Jojo Kalguksu, a brand that specializes in Korean knife-cut noodles, or kalguksu, has been gaining popularity among customers who crave the hearty noodle dish. The brand has four restaurants in its hometown of Daegu, North Gyeongsang Province, and two restaurants in Seoul. The first branch was established in Daegu in 2017, and the most recent branch opened this March in Seongsu-dong, a popular hotspot among the youth in Seoul. Jojo Kalguksu also sells kalguksu meal kits for people to cook and en

The health supplement market has been seeing increasing demand as people prioritize their immunity and well-being, especially after the global COVID-19 pandemic. Mirae Wellcare aims to cater to those needs by providing affordable and healthy products to consumers. Accordingly, its health supplement brand, Metamix, offers a variety of health-boosting supplements while simultaneously contributing to a culture of sustainability. Metamix products, such as the 10 Billion Probiotics and Lutein Eye Car

Dong-A Otsuka, South Korea’s leading beverage maker, initiated a campaign with the government to promote nationwide efforts in overcoming this summer’s expected heat waves. The company announced that it launched the second annual "Beat the Heat Campaign" from June 22 to 23 in collaboration with the Ministry of the Interior and Safety and the Korean Red Cross, following the first campaign held last year. The company kicked off the event at the Olympic Park Foreon in Gangdong