Luxury fashion platform Jente said Thursday its sales hit a new high of $24 million last year, a 140 percent jump from a year ago, extending its winning streak since its launch in 2020. According to the company, operating profits also almost tripled to $3.3 million last year, compared to $900,000 in the previous year. The company said that the growth had given it a footing as a representative luxury shopping platform here. The number of monthly active users, a key e-commerce indicator, also surg

Hyundai Motor Group announced Wednesday it has released a promotional video titled “Busan is Ready!” on several digital platforms for the city’s bid to host the 2030 World Expo. It is the latest installment of the group’s large-scale video campaign series, which has been taking place over the last two weeks. The video aims to show Busan’s appeal as the perfect location to host the World Expo by highlighting its competitiveness and role as a technological, cultural a

Samsung SDI said Sunday that it opened a new research and development center in Shanghai on Saturday, completing its global network of research facilities around the world. The new center, called SDI Research & Development China, or SDIRC, will collaborate with universities and research institutions to secure localized technologies, analyze industry trends and cultivate local talent. Samsung SDI especially pinned high hopes on the nation’s state-backed battery industry. On top of the g

Mirae Asset Global Investments announced on Thursday that Global X Japan, its joint investment venture in Japan, surpassed 100 billion yen ($756 million) in assets under management, just two years after launching its first product. Global X Japan is a joint venture established in September of 2019 by Global X Management – a New York-based fund management firm acquired by Mirae Asset Global Investments in 2018 – and Japanese investment company Daiwa Asset Management. It is the only ma

Hyundai Engineering & Construction will bring convenient concierge services to its Hillstate Sunhwa the Wise – a residential and commercial apartment complex in Daejeon. The complex, with units now for sale by Hyundai E&C, stands 54 floors tall including underground floors and contains 851 medium-sized to large apartments. In entering a partnership with the Dopda, a premium concierge service company, to offer premium services to residents of the apartment complex, Hyundai E&C a

LG Energy Solution CEO Kwon Young-soo has purchased 1,000 shares of the company’s stock, according to the firm's public disclosure on Thursday. The price for each share during the time of purchase was 572,800 won ($446), bringing the total value to 572.8 million won. The CEO in April last year purchased 1,000 company shares at 420,000 won each. “By consistently purchasing shares of our company, CEO Kwon is enhancing our shareholder value and demonstrating responsible management,

LG Innotek said Wednesday it has successfully developed an upgraded vehicle-to-everything communication module that drastically improves data transmission speed. The second-generation 5G network-based module, using Qualcomm chips, is considered a crucial safety component for autonomous driving. The company said it is seeking to start promotional activities targeting global car and parts makers, with an aim to debut the final product by 2025. The official product name is 5G-V2X Cellular Module. T

KB Financial Group announced Wednesday that it earned the title of the first and only Korean financial firm to receive the top AAA rating on the 2022 MSCI ESG Index -- an index organized by Morgan Stanley Capital International which evaluates companies based on their environmental, social and governance performance. The MSCI ESG Index measures a company’s management of long-term, financially relevant ESG risks and opportunities relative to their peers, according to MSCI. The rating categor

Incheon Airport marks its 22nd anniversary on Wednesday this year, celebrating a rebound in international travel and cargo shipping after the pandemic upended air travel for three years. Despite the setback, it has maintained its status as the second-largest logistics hub in Northeast Asia, Incheon International Airport Corp. said in a statement. Incheon Airport processed the second-largest amount of international cargo in the world both in 2021 and 2022, the airport said. Including passenger pl

KT Submarine, a marine business unit of South Korean telecommunications giant KT Corp., is gaining fresh momentum in sales. The company posted 42.8 billion won ($33 million) in sales last year, a 43.2 percent jump from a year ago, largely driven by global orders in key markets such as the US and the Philippines. Its operating deficit, however, increased from 5.1 billion won to 6.6 billion won during the same period due to one-time expenses for upgrading equipment. “This year, we plan to co

Mask sales are still growing a week since the lifting of the mask mandate for public transportation, according to sales data compiled from online shopping sites Monday. The South Korean government has been gradually easing mask-wearing rules starting with wearing masks outdoors last May and in most indoor spaces earlier this year. Most recently, last Monday, the indoor mask rule for public transportation, including subways, buses and taxis, was lifted as well, though experts still strongly advis

Samsung Electronics and Aramco, Saudi Arabia’s state-run oil and gas company, have signed a memorandum of understanding for a strategic partnership to accelerate the industrial adoption of 5G network technology in the largest Middle Eastern country by area. Under the agreement, the two companies will promote the digital transformation of Saudi Arabia’s industrial sectors by adopting LTE and 5G high-speed network technologies.

The Korea Agro-Fisheries and Food Trade Corp. is making strides to establish South Korea as a global agricultural powerhouse by cultivating human resources and promoting traditional Korean liquor. Its CEO, Kim Chun-jin, gave a special lecture to students attending the agency’s Agricultural Marketing College, as well as to members of the Agrifood Frontier Leader Organization during a seminar held in Suwon, Gyeonggi Province, on Tuesday. The lecture outlined the roles that those working in t

Hana Financial Group said Wednesday that it has signed an agreement with Cha University Medical Center, a medical group specializing in fertility treatments, to make joint efforts to tackle the nation’s chronic low birthrate. The two institutions held a signing ceremony for the new partnership at Cha Bio Complex in Pangyo, Gyeonggi Province, with their leaders, including Hana Financial Group Chairman Ham Young-joo, in attendance. Korea’s birthrate – the average number of childr

LG Electronics said Monday it presented a blueprint for ThinQ, a platform brand that connects home appliances and consumer electronics with smart technology for higher efficiency, at the Connectivity Standards Alliance member meeting in Seoul. Jung Ki-hyun, vice president of LG's platform business center, attended the four-day event as a keynote speaker and shared the company's vision for providing more consumer-friendly smart home services. He outlined three core values of ThinQ: adva

The Export-Import Bank of Korea is making strides to expand its network with financial institutions based in Latin America to clear the path for South Korean companies to enter emerging markets in the region. Eximbank Chairman Yoon Hee-sung attended the 2023 Annual Meeting held by the Inter-American Development Bank in Panama from March 16 to 19. At the event, he signed a Confirming Bank Agreement with James Scriven, CEO of IDB Invest -- the private sector arm of IDB Group -- to solidify Eximban

The Export-Import Bank of Korea said Thursday it has signed a memorandum of understanding with NuScale Power, an Oregon-based nuclear power company, for financial cooperation aimed at expanding the reach of Korean companies in securing overseas orders. Eximbank Chairman Yoon Hee-sung met with NuScale Power CEO John L. Hopkins to sign the contract at NuScale’s office in Rockville, Maryland. NuScale Power, which specializes in small modular reactor, or SMR, technology, is a company in which

Hyundai Elevator said Wednesday it is joining a government-led consortium to participate in bidding to win a megacity project in Indonesia, which ranges from construction to mobility and smart city solutions. The consortium, named One Team Korea, is led by Land, Infrastructure and Transport Minister Won Hee-ryong, with a total of 22 companies joining across industries. As part of the team, Hyundai Elevator said it has joined hands with its sister firm Hyundai Movex in a bid to offer its elevator

South Korea’s IT solutions provider LG CNS said Tuesday it has signed a memorandum of understanding with SAP, the German software giant, to bolster their strategic partnership in building next-generation enterprise resource planning, or ERP, solutions. The MOU signing ceremony was held at SAP’s headquarters in Walldorf, Germany, on March 10, with LG CNS CEO Hyun Shin-gyoon and SAP CEO Christian Klein in attendance. Under the MOU, the two companies agreed to develop and operate new ER

Hyundai Engineering & Construction and Hyundai Engineering have officially embarked on a project to build the largest petrochemical facilities to date in the South Korean city of Ulsan. The plan, dubbed “the Shaheen Project,” is the construction of high value-added petrochemical production facilities in which South Korean oil refiner S-Oil has invested a whopping 9.3 trillion won ($7 billion). It is the largest investment made by Aramco -- a Saudi Arabian state-operated oil and g