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SK Group bets on younger leaders for AI leap

SK Group has launched a sweeping leadership reshuffle and organizational overhaul for next year, accelerating a generational shift and tightening its focus on artificial intelligence-driven growth and and faster execution.

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SK heiress to head SK Biopharm strategy

SK Biopharmaceuticals Vice President Chey Yoon-chung, daughter of SK Group Chair Chey Tae-won, has been appointed to lead the drug-developing company's future strategies, as it seeks to reinforce its execution capabilities and respond proactively to rapidly changing global market conditions. According to SK Biopharmaceuticals on Thursday, Chey, who has headed its business development department, will be in charge of the firm's strategy department starting Jan. 1. The strategy department will ove
Dec. 4, 2025
US tariff cuts on Korean autos, aircraft ease export uncertainty

The US has confirmed a tariff cut to 15 percent on key South Korean imports such as automobiles, aircraft and lumber in the Federal Register, prompting relief from Seoul and industry groups that say the move eases a major source of trade uncertainty. The implementation comes a little over four months after negotiators first secured a framework deal in July to cut the tariffs in return for Korea’s pledge to invest $350 billion. After months of deadlocks, the two countries finalized the deal in Oc
Dec. 4, 2025
Posco Future M partners with Factorial to co-develop solid-state battery materials

Posco Future M, the battery materials subsidiary of Posco Group, said Thursday it has signed a strategic partnership with US solid-state battery developer Factorial Energy to co-develop next-generation EV battery materials. The memorandum of understanding, signed Nov. 25 at the Future Battery Forum in Berlin, aims to strengthen Posco’s position in the solid-state sector — widely viewed as the next major leap in electric mobility due to its improved safety and higher energy density. Solid-state b
Dec. 4, 2025
LS Electric expands Busan complex to triple UHV transformer output

LS Electric completed construction of a second ultrahigh-voltage transformer plant in Busan on Thursday, stepping up its global expansion with a focus on North America. With the addition, LS now operates a full product lineup spanning ultrahigh-voltage transformers, transmission, substation and distribution systems. LS’ Busan complex is also Korea’s only production base for high-voltage direct-current transformers, positioning the company to respond quickly to rising government demand for HVDC t
Dec. 4, 2025
Worries in Taiwan linger after Coupang leak hits Korea

Coupang’s sweeping data leak has laid bare what many call a double standard in its cybersecurity practices, in which the company prioritizes protections in Taiwan while leaving its core Korean market more vulnerable. While the data of millions of users in Korea was being exposed for months, Coupang’s Taiwan unit announced on Oct. 21 that it had introduced Fast Identity Online, branded as “Coupang Passkey,” a password-free login system using biometric verification. The company said the feature is
Dec. 4, 2025
Celltrion ADC candidate gets FDA fast track designation

Celltrion announced Thursday that CT-P70, its novel antibody-drug conjugate candidate for lung cancer, has received fast track designation from the US Food and Drug Administration. ADCs are next-generation therapies that connect a powerful cancer-killing drug to an antibody. This design allows the treatment to directly attack cancer cells while minimizing damage to healthy tissue. The fast track designation, granted to drugs addressing serious conditions with unmet medical needs, facilitates mor
Dec. 4, 2025
Hana Financial, Dunamu join forces on blockchain-based remittance system

Hana Financial Group and Dunamu, operator of crypto exchange Upbit, agreed to jointly develop blockchain-enabled financial services as major Korean players accelerate their push into next-generation payment and settlement infrastructure. The companies said Thursday they signed a memorandum of understanding to collaborate on building new financial rails using blockchain. The partnership will cover the development of an overseas remittance system, the introduction of new technology across Hana’s f
Dec. 4, 2025
OpenAI Korea ups 'Stargate' push with Samsung, SK

OpenAI Korea is accelerating efforts to establish a next-generation AI infrastructure in Korea through its “Stargate Project,” partnering with Samsung Group and SK Group to position the country as a critical node in the global AI supply chain, the company said Thursday. At his first press briefing since taking office in September, Kim Kyoung-hoon, general manager of OpenAI Korea, outlined the initiative as a major push to rapidly expand Korea’s AI ecosystem. “In Korea, we are advancing the Starg
Dec. 4, 2025
Hyundai Motor revamps leadership in key markets

Hyundai Motor Group has reshuffled top leadership in key markets, including Korea, China and India, as it seeks to strengthen sales and better navigate global uncertainties. According to industry sources Thursday, Kim Seung-chan, head of Hyundai’s domestic sales division, has been promoted to executive vice president and appointed chief of the domestic business division. Kim, a veteran sales strategist with extensive field experience, is now tasked with boosting Hyundai’s market share and improv
Dec. 4, 2025
Architecture dances to rhythm of music at Global Biz Forum

Architecture and music — one grounded in space, the other in sound — reveal surprising parallels through the insights of architect Hong Tae-sun, who explored their mutual roots in creativity at the eighth edition of the Global Biz Forum hosted by The Korea Herald and Herald Business. The Wednesday session, titled "BIG: Designing the Future," was held at the Prugio Summit Gallery in Gangnam, southern Seoul. “Both music and architecture involve the layering of multiple elements to create depth,” e
Dec. 4, 2025
Exports for 2025 poised to surpass $700b for 1st time on chip, auto shipments

South Korea's yearly exports are expected to hit a record high in 2025 on the back of strong performance by key export items, such as semiconductors, automobiles and ships, the industry ministry said Thursday. From January to November, outbound shipments reached an all-time high of $640.2 billion for the period, compared with a previous record of $628.7 billion posted in 2022, the Ministry of Trade, Industry and Resources said. According to the ministry, annual exports for 2025 are poised to sur
Dec. 4, 2025
Export uncertainties eased as US confirms lowered tariffs for S. Korean auto, aircraft, lumber goods: minister

Uncertainties surrounding South Korea's exports have partially eased as the United States confirmed the lowering of tariffs on Korean automobile, aircraft and lumber imports on the Federal Register, Seoul Industry Minister Kim Jung-kwan said Thursday. "It is fortunate that the US administration has finalized tariff reductions on our major export items, such as automobiles and auto parts, aircraft and aircraft components, and lumber products, which are our largest export categories to the US," Ki
Dec. 4, 2025
Seoul shares open lower despite overnight US gains

South Korean stocks opened lower Thursday, despite overnight US gains. The benchmark Korea Composite Stock Price Index lost 29.24 points, or 0.72 percent, to 4,007.06 in the first 15 minutes of trading. Overnight, Wall Street closed higher on hopes that the Federal Reserve will cut interest rates next week. The S&P 500 added 0.3 percent, and the Dow Jones Industrial Average was up 0.86 percent while the tech-heavy Nasdaq composite was 0.17 percent higher. In Seoul, most-large cap shares traded l
Dec. 4, 2025
US gov't puts S. Korea-US tariff deal on Federal Register

US President Donald Trump's administration on Wednesday posted on the Federal Register a notice on the implementation of a South Korea-US trade and investment deal, including a reduced tariff rate of 15 percent on Korean autos retroactive to Nov. 1. The Office of the US Trade Representative and the Department of Commerce posted the document to implement certain tariff-related elements of the US-Korea Strategic Trade and Investment Deal ahead of its official publication date set for Thursday. The
Dec. 3, 2025
Lee says Trump proposed 5:5 partnership for uranium enrichment project

President Lee Jae Myung said Wednesday that US President Donald Trump proposed the two countries form a 5:5 partnership to achieve South Korea's aim of enriching uranium and reprocessing spent nuclear fuel on its soil. Lee disclosed what he said was Trump's proposal at a recent summit meeting during a press conference with the foreign press that marked one year since former President Yoon Suk Yeol's failed imposition of martial law. "In the end, we agreed to partner," Lee said, adding that Trump
Dec. 3, 2025

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