Tycoon who leads S. Korea's 2nd-largest conglomerate embarks on unexpected mission to industrialize hansik. Experts say he might want to be more than just a businessman

Samsung Electronics, the world’s largest memory chip maker, has denied any plans to reduce production of memory chips, amid widespread fear of an economic slowdown and falling chip prices. “We have no plan to do so for now,” Han Jin-man, senior vice president of Samsung’s memory chip business division, told reporters at a tech forum on Wednesday in San Jose, California, in response to a question about potential production reduction plans. Han’s remarks come as Sam

  Half a year has passed since Hyundai Motor Group suspended operations of its Russian plant over global logistics issues, without a clear vision for a breakthrough while global competitors have already exited the market. But market experts say Hyundai simply leaving Russia is not an answer, due to massive investment and significant market share. According to a report recently released by Hyundai Motor Group, Hyundai Motor Manufacturing Russia shipped zero cars in August, as opposed to the

A day before announcement, Hanwha chairman's youngest son posts the plan on his Instagram

Sales of imported vehicles in South Korea rose 17 percent last month from a year earlier despite the extended chip shortage, an industry association said Thursday. The number of newly registered foreign vehicles stood at 23,928 units last month, up from 20,406 units a year ago, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. The three bestselling models last month were the BMW 520 sedan, Mercedes-Benz's E 250 sedan and Volkswagen's ID.4 all-electric SUV

Letter raises hope for improvement, but not enough for a revision in IRA, says KITA vice chair

Samsung Electronics Vice Chairman Lee Jae-yong and SoftBank founder Masayoshi Son held talks on Tuesday over ways for a strategic alliance between the chips-to-mobile giant and SoftBank-backed chip intellectual property giant Arm, according to industry sources on Wednesday. The meeting at Samsung Electronics’ Seoul office was also accompanied by Samsung’s co-CEO Kyung Kye-hyun, who oversees semiconductor business, and mobile business chief Roh Tae-moon, as well as Arm CEO R

Hyundai Department Store said Wednesday it would compensate staff and partner companies suffering from a business void at Daejeon Hyundai Premium Outlet that caught fire last week that left seven deaths. The company will give 2.5 million won-3.5 million won ($1,760-$2,470) to around 1,000 managers and salespeople whose work has been suspended due to the post-fire shutdown. Refusing to disclose the exact number of staff and managers, a Hyundai Department Store official said “we will come up

Nongshim's Shinramyeon still No. 1; sales of bibimmyeon wane in summer due to heavy rain

KT&G said it is taking part in an annual exhibition hosted by the Tax Free World Association in Cannes, France, from Oct. 3 through 6 as part of efforts to expand its duty-free business to Europe, the Middle East and Central and South Americas. The South Korean tobacco company is displaying premium products from Esse, Raison and Bohem brands at its booth. It is also holding meetings with global distributors and tax-free businesses at the TFWA World Exhibition and Conference. It is the 13th

Korea Shipbuilding & Offshore Engineering said Wednesday it has inked a 2.09 trillion won ($1.46 billion) contract to build seven eco-friendly ships. KSOE, the world’s biggest shipbuilder by order backlog, signed contracts with Denmark-based integrated logistics company Maersk and Excelerate Energy, for six 17,000 TEU methanol-powered large container ships and one 170,000 cubic meters of liquefied natural gas-floating and regasification unit (LNG-FSRU) respectively. Under the deal, Hyu

As exports grew, so did hacking attacks, government data says