motorsport competition

E-commerce Coupang’s Q1 revenue up; quarterly dip signals rising competition

Coupang Inc., South Korea’s largest e-commerce platform, extended its year-on-year sales growth with an 11.1% increase to post $7.9 billion in...

Automobiles Genesis premieres premium electric off-road SUV X Gran Equator Concept

NEW YORK – Genesis, the luxury brand of South Korea’s top automaker Hyundai Motor Co., has premiered its first electric off-roader conce...

Business & Politics Korea eyes laws akin to US AMPC to offer subsidies for its battery makers

South Korea, home to global top battery makers such as LG Energy Solution Ltd., SK On Co. and Samsung SDI Co., is seeking to enact laws that would l...

Upcoming IPOs Seoul Guarantee Insurance to raise $124 million from IPO

Seoul Guarantee Insurance Co. (SGI) will raise 181.5 billion won ($124.2 million) through an initial public offering later this month in its second ...

Energy KEPCO expects all-time high $207 mn in 2024 overseas investment returns

Korea Electric Power Corp. (KEPCO), the state-run utility company, expects to post its highest-ever overseas business performance this year, thanks ...

Electric vehicles Gensis launches motorsport team to race in high-performance segment

Hyundai Motor Co.'s premium brand Genesis on Wednesday launched a racing team and unveiled a motorsports prototype to raise its presence in the glob...

Korean startups Big Mobility, Hummingbirds win Chung Ju-yung Startup Competition

The Asan Nanum Foundation selected Big Mobility and Hummingbirds as the top winners of the 13th Chung Ju-yung Startup Competition demo day on Novemb...

Bio & Pharma Celltrion to establish CDMO subsidiary

Celltrion Inc., South Korea’s largest biosimilar maker, said on Friday it plans to establish a contract development and manufacturing organiza...

Korean startups Asan Nanum Foundation to hold startup competition in November

The Asan Nanum Foundation announced on Wednesday that it will hold a demo day for “The Chung Ju-yung Startup Competition” on Nov. 7 at C...

Electronics Samsung Display to build $1.8 billion OLED plant in Vietnam

Samsung Display Co., a leading South Korean display maker, will build a $1.8 billion organic light-emitting diode (OLED) line in Vietnam for small- ...

Automobiles Hyundai Motor, Kia win 12 awards at IDEA Design Awards

Hyundai Motor Co. and Kia Corp. announced on Friday that they won a total of 12 awards, including three Gold Awards, at the 2024 International Desig...

Electric vehicles Toyota chairman to visit Seoul, discuss hydrogen cars with Hyundai’s Chung

Akio Toyoda, chairman of Japan’s top automaker Toyota Motor Corp., will fly to Seoul in late October to meet with Hyundai Motor Group Chairman...

Electronics Samsung to offer 7 years of free Tizen OS upgrade for AI TVs

Samsung Electronics Co., the world’s top smart TV maker, plans to offer seven years of a free upgrade to its open-source smart TV operating sy...

Corporate strategy AI-driven shifts will unlock opportunities: SK Chairman

Challenges are ahead but the artificial intelligence industry will eventually boom, opening new markets, said South Korea’s second-largest bus...

Mergers & Acquisitions STIC to buy Korean flooring firm Nox from TPG for $336 mn

Seoul-based private equity firm STIC Investments has agreed to acquire global leading luxury vinyl tile (LVT) flooring firm Nox Corp. at 450 billion...

E-commerce Korean e-commerce startup funding sharply drops since 2022

South Korean e-commerce companies have seen a sharp decline in series A funding over the past three years amid intensifying competition with Chinese...

Leadership & Management Samsung’s new chip leader calls for restoring competitiveness  

It is urgent to restore Samsung Electronics Co.'s competitiveness in the semiconductor business, the chip division’s new head said in his firs...

Korean chipmakers SK Hynix aims for graphics chip supremacy with GDDR7 in Q3

SK Hynix Inc., the world’s second-largest memory chipmaker after Samsung Electronics Co., said on Tuesday it plans to begin volume production ...

Electronics Slimming wars: Samsung aims to launch 7 mm foldable smartphone

When Samsung Electronics Co. unveiled its latest iteration of foldable smartphones – the Galaxy Z Flip6 and the Z Fold6 – at the Unpacke...

Korean chipmakers HBM chip war intensifies as SK Hynix hunts for Samsung talent

South Korean chipmaker SK Hynix Inc., just like its global peers, has largely designed and produced semiconductors in-house, including high-bandwidt...

Korean food CJ CheilJedang hosts K-food competition in China

South Korea's CJ CheilJedang Corp. announced on Thursday that it organized the CJ Challenge Live Competition at the 2024 K-Food China Qingdao Intern...

Banking & Finance S.Korea’s travel payment card market competition heats up

Competition in the South Korean travel payment card market intensified as increasing overseas trips and cross-border shopping prompted credit card i...

Corporate bonds Hyosung Chemical receives negative credit rating outlook

South Korean credit rating agency NICE Investors Service Co. (NICE) downgraded Hyosung Chemical's credit rating outlook from stable to negative on W...

Economy South Korea climbs to 20th on IMD national competitiveness list

South Korea’s national competitiveness ranking climbed eight notches to its highest-ever 20th thanks to a leap in the country’s business...

Shipping & Shipbuilding Hyundai, Hanwha in uphill battle vs Japan for A$11 billion frigate deal

South Korea’s two warship builders are striving to win an A$11 billion (US$7.3 billion) deal from Australia to build 11 advanced frigates &nda...

Artificial intelligence Korea Inc.’s AI executives double with LG Group leading the pack

The number of executive-level artificial intelligence (AI) specialists at South Korea’s 30 largest conglomerates has more than doubled in the ...

Energy Hanwha Q Cells eyes solar power business diversification

Hanwha Q Cells Co., a solar power unit of South Korean chemicals-to-defense conglomerate Hanwha Group, is striving for revenue stream diversificatio...

Automobiles Hankook Competition to participate in Nürburgring 24 Hours

Hankook & Company Co., Hankook & Company Group's business holding company, announced on Wednesday that its sponsored motorsport team Hankook...

Private equity Affinity extends tender offer for food container maker Lock&Lock

Hong Kong-based Affinity Equity Partners is set to extend its tender offer for South Korean food container maker Lock&Lock Co. shares, as the pr...

Corporate strategy POSCO tightens belts, seeks M&A within 3 years: new chairman

Chang In-hwa, chairman and chief executive of POSCO Holdings Inc., the parent of South Korea’s top steelmaker POSCO, has vowed to take drastic...