FTC fines Coupang W2.19b for unfair supplier practices

Coupang has been fined 2.19 billion won ($1.53 million) and ordered to take corrective measures for violating the Large-scale Retail Business Act, the Fair Trade Commission said Thursday, citing unfair pressure on suppliers and delayed payments. The regulator found that from January 2020 to October 2022, Coupang set margin targets for suppliers and closely monitored performance. When suppliers failed to meet those targets, the company demanded lower delivery prices or required them to shoulder a

Feb. 26, 2026

HDC rebrands flagship units under IPark

HDC Group has decided to remove the “HDC” name from several major affiliates and to adopt "IPark" as the primary branding for its life-sector businesses, marking a significant identity shift as the group celebrates its 50th anniversary. According to the group on Thursday, the name changes will be put to shareholders to vote on at upcoming general meetings as part of a broader portfolio reorganization centered on three pillars: life, artificial intelligence and energy. Under the plan, HDC Hyundai

Feb. 26, 2026

Volkswagen Korea chief wins third term as KAIDA chair

Till Scheer, president and CEO of Volkswagen Group Korea, has been reappointed as chair of the Korea Automobile Importers & Distributors Association for a third consecutive term, the association said Thursday. KAIDA announced that Scheer was elected as its 17th chair at a general meeting held at a Seoul hotel earlier in the day. Having already served as the 15th and 16th chair, he will lead the association for another two-year term. Scheer has extensive experience in the automotive sector across

Feb. 26, 2026

Hanwha Ocean turns Canada submarine bid into industrial alliance

Hanwha Ocean said Thursday that it is expanding its push for Canada’s next-generation submarine program beyond a conventional defense export, positioning it as a long-term industrial and security partnership centered on localization and technology transfer. The company has signed more than 10 cooperation agreements — including technical cooperation agreements, memorandums of understanding and teaming agreements — to proactively meet Canada’s industrial and technological benefits requirements, wh

Feb. 26, 2026

SK hynix to invest W21.6tr in Yongin fab completion

SK hynix announced on Wednesday an additional investment of 21.6 trillion won ($15.1 billion) to build its first semiconductor fabrication plant at the Yongin Semiconductor Cluster, which will serve as a key hub for AI semiconductor production. This new investment will cover the construction of Phases 2 through 6 of the cleanroom and help complete the first fab, with work scheduled from March 1 to December 31, 2030. In July 2024, the company had committed 9.4 trillion won for the initial phase,

Feb. 25, 2026

KDB chief vows support for petrochemical reform, unveils W250tr growth push

Korea Development Bank Chairman and CEO Park Sang-jin on Wednesday threw the lender’s weight behind the government’s 2.1 trillion won ($1.46 billion) support package for the country’s first petrochemical restructuring, pledging to lead the overhaul of the Daesan complex as lead policy lender. Speaking at his first press conference since taking office in August, Park said KDB would take on over 40 percent of the 1 trillion won in fresh funding earmarked for the restructuring of the Daesan complex

Feb. 25, 2026

KT&G first to cancel treasury shares under revised Commercial Act

KT&G said Wednesday it will cancel treasury shares worth nearly 2 trillion won ($1.3 billion), becoming the first company to comply with South Korea’s newly revised Commercial Act aimed at strengthening shareholder rights. The decision came hours after the National Assembly passed a third amendment to the Commercial Act, requiring companies to retire newly acquired treasury shares within one year and existing holdings within 18 months. At a board meeting the same day, KT&G resolved to cancel 10,

Feb. 25, 2026

Iced Americano obsession made Korea 'obvious choice' for launch of Starbucks' Aerocano

Starbucks said Korea was a natural starting point for the launch of its new Aerocano drink because of its deeply rooted cafe culture that embraces iced Americanos at any time of the year. The global debut of the Aerocano is set for Thursday. The drink is made by injecting air into iced espresso, creating a creamy texture and lighter mouthfeel and producing a cascading, waterfall-like effect as microscopic bubbles form a velvety foam. From 2023 through 2025, iced Americanos accounted for more tha

Feb. 25, 2026

Earnings gap widens as Korea Zinc rivals head to vote

A widening earnings gap between Korea Zinc and Young Poong is emerging as a key variable ahead of a pivotal shareholder vote next month, where both sides will battle for greater control over the world’s leading zinc smelter. Korea Zinc, led by Chair Choi Yun-beom, posted record earnings last year. Young Poong — Korea Zinc’s largest shareholder alongside private equity firm MBK Partners — reported deepening losses. Industry observers say the stark financial contrast could shape investor sentiment

Feb. 25, 2026

[Photo News] GS volunteers at Anna’s House

GS Retail CEO Huh Seo-hong (left) and chef Edward Lee serve meals to visitors at Anna’s House, a social welfare facility in Seongnam, Gyeonggi Province, Tuesday. The event, joined by the company’s employee group GS Nanumi and Anna’s House founder Father Kim Ha-jong, was organized to give back to the community following a successful food product collaboration through GS25 convenience stores. (GS Retail)

Feb. 25, 2026

Seoul rolls out W2.1tr for petrochemical restructuring

The Korean government on Wednesday unveiled 2.1 trillion won ($1.46 billion) in financial support for the country’s first petrochemical restructuring, backing an overhaul of the Daesan complex between Lotte Chemical Corp. and HD Hyundai Chemical to accelerate broader industry self-rescue efforts. The Ministry of Trade, Industry and Resources announced the package at a ministerial meeting on strengthening industrial competitiveness, alongside policy measures tied to the project. “The government a

Feb. 25, 2026

Daewoong secures global rights to obesity microneedle patch

Daewoong Pharmaceutical said Wednesday it has signed an exclusive global licensing agreement with its R&D affiliate, Daewoong Therapeutics, to commercialize microneedle-based therapies targeting the fast-growing obesity treatment market. Under the agreement, Daewoong Pharmaceutical secured exclusive worldwide commercialization rights to a patented microneedle patch platform developed by Daewoong Therapeutics. In return, it will lead the global marketing, regulatory strategy and large-scale manuf

Feb. 25, 2026

Hanwha Semitech unveils 2nd-generation hybrid bonder

Hanwha Semitech said Wednesday it has developed a second-generation hybrid bonder, a key technology for next-generation semiconductor packaging, and plans to deliver the equipment to customers for performance testing in the first half of this year. Hybrid bonders are regarded as a critical technology for improving the performance and manufacturing efficiency of high-bandwidth memory, a core component of AI accelerators. The South Korean-based chip equipment maker said the new system, dubbed SHB2

Feb. 25, 2026

LIG Nex1 denies delay in Ghost Robotics US IPO, reaffirms 2029 target

LIG Nex1 on Tuesday dismissed speculation that the planned US initial public offering of its robotics subsidiary Ghost Robotics has been delayed, reiterating that the listing remains on track for 2029 as originally agreed. Market rumors surfaced this week suggesting the IPO could be pushed back due to weakened short-term earnings visibility, partly stemming from last year’s US federal government shutdown, which disrupted procurement schedules and delayed key defense contracts. Ghost Robotics, ac

Feb. 24, 2026

Chip boom turns Korea’s business sentiment positive after four-year slump

South Korea’s business sentiment turned positive for the first time in four years for the March period, buoyed by robust semiconductor and automobile exports, signaling that corporate confidence may be broadly recovering after a prolonged slump. The Federation of Korean Industries said Tuesday its business survey index, or BSI, a monthly poll of the country’s top 600 companies by sales, rose to 102.7 for next month. It marked a notable turnaround, as the index had remained below the threshold fo

Feb. 24, 2026