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Wednesday, January 1, 2025

BUSINESS

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...

HD Hyundai reports 61.8% drop in operating profit

HD Hyundai reported a 61.8 percent decline in operating profit compared to the same period last year, posting 472.6 billion won ($369.94 million) as...

LG Electronics sees operating profit decrease to $580M

LG Electronics reported a 6.3 percent decrease in operating profit on year to hit 741.9 billion won ($580 million) in the April-June period, primarily...

Hyundai Motor reaps record $3.3 billion profit in Q2

Hyundai Motor posted another all-time high operating profit of 4.24 trillion won ($3.32 billion) for the April-June period, up 42.2 percent on year, driven...

Kakao employees protest handling of recent layoffs

Unionized workers of Kakao staged a protest on Wednesday in front of the tech company's Pangyo headquarters in Gyeonggi, demanding executives take responsibility for...