Hyundai Steel to unveil US hydrogen steel mill model at hydrogen expo

Hyundai Steel said Monday it would unveil a model of its planned hydrogen steel mill in Louisiana this week, demonstrating its push toward net-zero production. The plans will be introduced at the World Hydrogen Expo, held from Thursday to Sunday at Kintex in Goyang, Gyeonggi Province. Hyundai Steel will showcase the details of the US plant — set to begin commercial operations in 2029 — along with its mid- to long-term technology road map toward carbon-free steelmaking. The model will give visito

Dec. 1, 2025

HD Hyundai launches unified shipbuilder to power $150b 'MASGA' push

The newly integrated HD Hyundai Heavy Industries was launched Monday, after South Korea’s biggest shipbuilder absorbed its smaller affiliate HD Hyundai Mipo, in a move aimed at strengthening competitiveness against Chinese and Japanese rivals and expanding its US business under the $150 billion “MASGA” initiative. HD Hyundai, the parent company of both shipbuilders, said all merger procedures between HD Hyundai Heavy Industries and HD Hyundai Mipo were finalized. The merged entity aims to achiev

Dec. 1, 2025

Daum goes solo: Kakao spins off portal after 10 years

Daum, South Korea’s second-largest internet portal, has formally split from tech giant Kakao to operate as an independent legal entity for the first time since their merger more than a decade ago. Effective Monday, the legal provider of Daum services has shifted from Kakao to AXZ, a wholly owned Kakao subsidiary, according to industry sources. The change marks the first legal and administrative separation between the two platforms since their 2014 integration. A Kakao official confirmed the tran

Dec. 1, 2025

Samsung, LG make Forbes’ list of 'America’s Dream Employers'

Samsung Electronics and LG Electronics have been named among the most desirable workplaces in the United States, earning spots on Forbes’ newly released “America’s Dream Employers 2026” list. The rankings, produced in partnership with market research firm Statista, are based on a large-scale survey of 150,000 people, including 140,000 employees at major US companies and 10,000 college students. Respondents rated employers on factors such as growth opportunities, work quality, compensation, healt

Dec. 1, 2025

Korea protests Canada’s steel quota cuts

South Korea has lodged a strong complaint with Canada over its decision to tighten tariff-rate quota, or TRQ, measures on steel imports, urging Ottawa to withdraw the policy immediately, the Trade Ministry said Monday. Vice Trade Minister Park Jung-sung delivered Seoul’s formal protest during a meeting in Seoul with Alexandra Dostal, senior assistant deputy minister at Canada’s Innovation, Science and Economic Development Ministry. The two officials discussed bilateral trade issues, including Ca

Dec. 1, 2025

SPC adds 4th Shake Shack outlet in Malaysia

Shake Shack, operated in Asia under an exclusive licensing agreement with South Korean food conglomerate SPC Group, announced Monday that it has opened its fourth location in Malaysia at Pavilion Kuala Lumpur, a major retail landmark in the capital’s Bukit Bintang district. The Pavilion outlet follows this year’s openings at The Exchange TRX, Sunway Pyramid and Kuala Lumpur International Airport Terminal 2, marking Shake Shack’s continued expansion in the Malaysian market. Located on the first f

Dec. 1, 2025

[Photo News] Hana's 20-year milestone

Dec. 1, 2025

Korea seeks NPS swap extension as won remains under pressure

Foreign exchange authorities said Monday they have begun talks with the National Pension Service to extend a currency-swap arrangement set to lapse at the end of the year, as policymakers roll out measures to counter the won’s persistent slide. The move was announced after a Sunday meeting convened by Finance Minister and Vice Prime Minister Koo Yun-cheol, bringing together senior officials from the Bank of Korea, the NPS, the Welfare Ministry, the Industry Ministry and other financial regulator

Dec. 1, 2025

Authorities begin talks on extending currency swap deal with NPS

South Korea's foreign currency authorities said Monday that they have begun discussions on extending their currency-swap arrangement with the state pension operator, the finance ministry said. As the Korean won continues to weaken against the U.S. dollar, the Ministry of Economy and Finance, the Bank of Korea, the National Pension Service, and the Ministry of Health and Welfare overseeing the pension fund formed a joint consultation body last month. During the latest meeting of the four-way body

Dec. 1, 2025

Hyundai to provide hydrogen cars, infrastructure support for Hydrogen Council CEO Summit

Hyundai Motor Group will provide a full fleet of hydrogen-powered vehicles and other comprehensive on-site support for the Hydrogen Council CEO Summit, set to take place in Seoul this week, the group said Monday. The South Korean automotive group will operate 56 hydrogen-fueled cars as official vehicles for the three-day event that begins Tuesday. It will also co-host a special session to introduce domestic companies' efforts to expand the hydrogen ecosystem. Hyundai will offer test-drive experi

Dec. 1, 2025

Seoul shares open higher on US gains

South Korean stocks opened higher Monday, tracking US gains. The benchmark Korea Composite Stock Price Index added 10.14 points, or 0.26 percent, to 4,002.82 in the first 15 minutes of trading. On Friday (local time), Wall Street closed broadly higher, extending its winning streak to a fifth day amid the Thanksgiving holiday. The S&P 500 rose 0.54 percent, the Dow Jones Industrial Average gained 0.61 percent, and the tech-heavy Nasdaq composite climbed 0.65 percent. In Seoul, most large-cap shar

Dec. 1, 2025

S. Korea's exports rise 8.4% on-year to $61.04b in Nov. on robust chip demand

South Korea's exports increased 8.4 percent from a year earlier in November to over $61 billion, extending the winning streak to the sixth consecutive month on the back of strong demand for semiconductors, government data showed Monday. Outbound shipments came to $61.04 billion last month, the highest for any November, according to the data compiled by the Ministry of Trade, Industry and Resources. Imports gained 1.2 percent on-year to $51.3 billion, resulting in a trade surplus of $9.73 billion

Dec. 1, 2025

Why Chey Tae-won is betting on Korea–Japan economic alliance

One of the key messages Chey Tae-won, chair of the Korea Chamber of Commerce and Industry and SK Group, has been emphasizing most fervently in recent months is the need for stronger cooperation between South Korea and Japan. As leader of the nation’s largest business lobby, Chey’s argument is blunt: Both East Asian neighbors are hitting the limits of their existing growth models, grappling with stagnant domestic economies, aging populations and rising global trade barriers. They can no longer af

Nov. 30, 2025

Coupang hit by massive data breach exposing 33.7 million users

E-commerce giant Coupang has admitted to the leak of personal information related to 33.7 million users — nearly its entire customer base — intensifying fears that one of Korea’s most widely used apps has left millions of shoppers exposed. CEO Park Dae-jun issued a public apology Sunday, one day after the company formally disclosed the breach. “I express deep regret over the recent incident at Coupang that began on June 24,” Park said. “We sincerely apologize for causing significant inconvenienc

Nov. 30, 2025

‘Unrivaled end-to-end solutions’: Merck aims to anchor Korea’s R&D ecosystem

Basic science is regarded as the starting point for numerous industries as it is essential not only to discovering new drugs but also to advancing cutting-edge technologies such as semiconductors and secondary batteries. With a portfolio of about 300,000 reagents and chemicals, Merck, which has been practically “everywhere,” looks to further bolster its presence in Korea. “Our biggest distinction is that we are capable of offering a broad selection of consumables ranging from chemistry to biolog

Nov. 30, 2025