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Saturday, July 27, 2024

BUSINESS

LG, Clearbrook start $100M fund for tech startups

LG Electronics will form a $100 million fund with Connecticut-based investment firm Clearbrook to foster tech startups specializing in sustainable energy, digital health and artificial intelligence. The...

Korean Air Lines sees operating profit fall 36 percent

Korean Air Lines reported a 36 percent decline in operating profit to 468 billion won ($356.5 million) in the second quarter, with robust performance in the...

Yoon pledges more support to secondary battery industry

President Yoon Suk Yeol promised more government support for the nation’s secondary battery industry, especially in the reclaimed land of Saemangeum, North Jeolla. “Secondary batteries,...

Stocks finish at a 52-week high led by tech gains

Stocks finished higher for a fourth consecutive day Tuesday to reach a 52-week high, led by strong tech stocks. The won fell against the...

Drone delivery service launched for urban areas in Korea

BGF Retail, the operator of the CU convenience store chain, launched a drone delivery service at outdoor swimming pool areas in Seongnam, Gyeonggi, on...

CJ Cheiljedang sells 60% take in Chinese subsidiary for $236M

CJ Cheiljedang sold its entire 60 percent of ownership stake in Chinese food subsidiary Sichuan Jixiangju Food for 300 billion won ($235.5 million). The shares were acquired by...

Costco faces public backlash for cart pusher death

Costco Korea is under fire after its country manager allegedly made blunt remarks at the funeral of an employee who died while working as...

Lotte partially opens $624 million retail complex in Vietnam

Lotte has partially opened its 800-billion-won ($624 million) hotel and entertainment complex in Hanoi, an initiative billed as the largest retail complex in Vietnam...

Samsung aims to sell more than 10 million units of its foldables in 2023

Samsung Electronics' foldable sales in 2022 has "nearly hit" its initial target of 10 million units, according to the company's president Roh Tae-moon, who...

Major automakers team up for EV charging, challenge Tesla

Hyundai Motor is partnering with six major global automakers for a massive charging network in North America to counter Tesla’s Superchargers. The Korean automaker said...