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K-cigarettes go global: KT&G lights up overseas markets
As beauty and food products lead the so-called K-frenzy, Korean cigarettes are becoming the next major export success, powered by KT&G, the country’s largest tobacco company. In the first quarter of this year, the company’s overseas cigarette sales reached 449.1 billion won ($327 million), surpassing domestic sales of 373.6 billion won for the first time — momentum that analysts expect to persist throughout the year. This quarter saw overseas cigarette sales rise 23 percent in volume and 54 perc
July 12, 2025 -
Potential S. Korea-US shipbuilding cooperation tied to Washington's China containment policy: official
The United States has made South Korea's participation in its containment policy against China a prerequisite for bilateral cooperation in the shipbuilding sector, one of the key items in the two countries' ongoing trade negotiations, a Seoul official said Friday. "The shipbuilding industry is one of the most notable areas where the US seeks cooperation with South Korea in terms of checking China," Chang Sung-gil, director general for trade policy at the Ministry of Trade, Industry and Energy, s
July 11, 2025 -
K-culture expansion architect: Chae Hwi-young, tech and media veteran, named culture minister
Chae Hwi-young, CEO of Nol Universe and a veteran of journalism, IT and cultural content, was nominated Friday as minister of culture, sports and tourism in the final appointment to complete President Lee Jae Myung’s first Cabinet. At a presidential briefing, Kang Hoon-sik, presidential chief of staff, announced the nomination, describing Chae as a private-sector leader whose vision aligns closely with President Lee’s goal of expanding the cultural industry. “Chae brings a diverse background as
July 11, 2025 -
Korean exporters urge bold policy shift in response to US tariffs
South Korea’s trade sector has identified strategic trade policy as the top priority for the new government, particularly in response to growing risks such as US tariffs, a survey showed Friday. According to a report released by the Korea International Trade Association, 20.7 percent of 416 trade industry professionals surveyed on June 10-11 selected the implementation of a strategic trade policy — aimed at maximizing national interest and strengthening industrial competitiveness — as the most u
July 11, 2025 -
Samsung to launch AI Health Coach beta in US by year-end
Samsung Electronics is set to unveil a beta version of its AI Health Coach through the Samsung Health app in the US, marking a significant AI-driven push to deliver medical guidance at home. At the Galaxy Tech Forum held in New York on Thursday, Samsung introduced the new feature, which uses AI to analyze users’ daily health data collected from wearable devices and provide personalized health care guidance. “We will release a beta version of the AI Health Coach that supports users in implementin
July 11, 2025 -
Samyang’s hot streak: Global Buldak craze sends stock to record high
Shares of Samyang Foods topped the 1.5 million won ($1,090) mark, rising nearly 50 percent in just two months, as investors bet on the enduring global popularity of its hot chicken noodles, Buldak. On Thursday, the stock hit an intraday high of 1,502,000 won before closing at 1,494,000 won on the benchmark Kospi. It opened at 1,503,000 won on Friday and briefly notched a new all-time high of 1,535,000 won. As of 11 a.m. Friday, shares had eased to 1,470,000 won. The rally extends a blistering ru
July 11, 2025 -
Kakao Investment sells SK Square stake for W429.7b to fund AI expansion
Kakao Investment, the venture capital arm of Kakao, said Friday that it has sold a 1.88 percent stake in SK Square, the investment arm of SK Group, through a block deal valued at 429.7 billion won ($312.8 million). According to the company’s regulatory filing, Kakao Investment disposed of 2.48 million shares of SK Square for 172,800 won per share — 5.88 percent below the stock’s closing price the previous day. The transaction was completed before the market opened Friday. The venture capital fir
July 11, 2025 -
Hyundai Card names sales chief as new CEO
Hyundai Card, the credit card unit of Hyundai Motor Group, has nominated Cho Chang-hyun, head of card sales operations, as its next CEO. The company’s executive nomination committee selected Cho as the sole candidate on Wednesday, with final approval to be made at an upcoming shareholders meeting. Once confirmed, he will lead the firm alongside Vice Chairman and co-CEO Chung Tae-young. Cho joined Hyundai Card in 2004 and has since held leadership roles across key divisions including marketing, p
July 10, 2025 -
LS Electric to showcase next-gen power solutions at Elecs Vietnam 2025
LS Electric said Thursday it is participating in the upcoming Elecs Vietnam 2025 exhibition, bolstering its efforts to penetrate the ASEAN power solutions market. At the event, scheduled for July 16 to 18 at the Saigon Exhibition and Convention Center in Ho Chi Minh City, LS Electric will present its next-generation power management system integrated with a smart grid distribution solution and ultra-high voltage transformers. Leveraging its world-leading manufacturing capabilities in power elect
July 10, 2025 -
Goldman Sachs buys Seoul’s Mercure Hongdae Hotel
Goldman Sachs Alternatives has acquired the Mercure Ambassador Seoul Hongdae, a 270-room hotel and mixed-use retail property in one of Seoul’s busiest youth and tourist hubs, the firm said Thursday. The asset, part of Accor’s global Mercure brand, was purchased through a real estate fund managed by Goldman Sachs Alternatives. It is located in the heart of Hongdae, a vibrant neighborhood in Mapo-gu, northwestern Seoul, known for its dense retail presence and cultural appeal. The property's retail
July 10, 2025 -
LG CNS debuts new LLM beating GPT-4o
LG CNS, a Korean information technology solutions provider under LG Group, has partnered with artificial intelligence startup Cohere from Canada to jointly develop a new inference large language model supporting 23 languages, including Korean and English. With 111 billion parameters, the model outperformed leading global LLMs such as OpenAI's GPT-4o and Anthropic's Claude 3.7 Sonnet, the Korean company said. The latest model comes just two months after LG CNS and Cohere unveiled a 7-billion para
July 10, 2025 -
JB Financial marks W4.8b social return in ESG report
JB Financial Group released its 2024 annual report Thursday, showing achievements in clean energy financing, climate risk management and community investment totaling nearly 4.8 billion won ($3.5 million) in social impact. As part of its push for sustainability, JB’s two regional banking units, Jeonbuk Bank and Kwangju Bank, became the first in the country to sign direct renewable energy power purchase agreements. They also rolled out new green loan products designed to support companies committ
July 10, 2025 -
S. Korea proposes trade, security package deal in tariff talks with US
National Security Adviser Wi Sung-lac said Wednesday that South Korea has proposed a "package deal" encompassing economic and security considerations in bilateral tariff negotiations, while also suggesting an early summit between President Lee Jae Myung and US President Donald Trump. Speaking to reporters following a four-day visit to Washington, Wi said he held "in-depth" discussions on trade negotiations and broader alliance issues in meetings with US Secretary of State Marco Rubio and other s
July 9, 2025 -
Posco sells stake in Chinese stainless steel mill: sources
Posco Holdings Inc., the holding company of South Korea's leading steelmaker Posco, has sold its entire stake in a Chinese stainless steel joint venture for around 400 billion won ($291 million), industry sources said Wednesday. According to the sources, Posco Holdings had signed a preliminary deal to sell its 82.5 percent stake in the Zhangjiagang Pohang Stainless Steel (PZSS) steel mill to China's Qingshan Group, the No.1 stainless steelmaker there. PZSS, set up in China's eastern Jiangsu prov
July 9, 2025 -
Russian foreign minister to visit North Korea this week in latest sign of expanding ties
Russian Foreign Minister Sergey Lavrov will travel to North Korea for a three-day visit beginning Friday in the latest sign of the countries’ deepening ties during Russia’s war in Ukraine, state media reported. North Korea’s official Korean Central News Agency said Lavrov was invited by the country’s Foreign Ministry but did not immediately provide further details, including whether he would meet with North Korean leader Kim Jong-un. Lavrov’s visit follows a June trip by Russia’s top security of
July 9, 2025