Ex-Coupang employee linked to breach handled access controls

A former employee who had worked in Coupang's authentication and access management systems reportedly leaked personal data by using internal access rights from outside the system after leaving the company. According to internal documents released Monday by Rep. Choi Min-hee, chair of the National Assembly’s Science, ICT, Broadcasting and Communications Committee, Coupang failed to revoke the access keys issued to the former employee, who allegedly used them to authenticate access tokens — digita

Dec. 1, 2025

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

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

Hana Bank pledges $348m to boost K-defense exports in Europe

Hana Bank said Sunday it will provide 300 million euros ($348 million) in export financing to support Korea’s defense industry in Europe, including major contracts in Poland, through a joint initiative with the Export-Import Bank of Korea. The deal marks the first time a commercial bank has partnered with the state-run lender to deliver financing specifically for K-defense exports, creating a new public-private model that pairs policy finance with private capital for large-scale weapons projects

Nov. 30, 2025

EcoPro boosts global footprint with new Hungary plant

EcoPro has completed its cathode materials plant in Debrecen, Hungary, and begun commercial production, becoming the first Korean battery materials maker to establish a manufacturing base in Europe. The company announced Sunday that it had held a completion ceremony on Friday, attended by EcoPro founder Lee Dong-chae, EcoPro CEO Song Ho-jun, EcoPro BM CEO Choi Moon-ho, Hungarian Investment Promotion Agency head Istvan Joo, GEM Vice Chairman Wang Min and SK On CEO Lee Seok-hee, along with other e

Nov. 30, 2025

From shipyards to steel mills, manufacturers get meme makeovers to woo Gen Z

Korea’s traditional manufacturing giants are reinventing themselves online, rolling out memes, characters and humorous videos to win over millennials and Generation Z — a demographic increasingly shaped by workplace culture, relatability and digital storytelling rather than by legacy brand power. Once defined by rigid hierarchies and a smokestack-era image, the country’s manufacturing sector is now fighting a perception gap as it competes with IT firms and startups for young talent. Companies fr

Nov. 30, 2025

Korean Air to build W176b maintenance hub at Incheon Airport

Korean Air said Sunday it will invest 176 billion won ($120 million) to build a major new maintenance hangar at Incheon Airport, bolstering its safety infrastructure and expanding its aircraft servicing capacity. The flag carrier signed an agreement with the Incheon International Airport Corporation on Nov. 24 for the H3 Maintenance Facility Development Project. The ceremony at the Grand Hyatt Incheon drew more than 90 attendees, including Korean Air Vice Chairman Woo Kee-hong, IIAC President Le

Nov. 30, 2025

AmCham, NTS discuss tax reforms to improve Korea's investment edge

The American Chamber of Commerce in Korea held a roundtable on Friday to discuss tax reforms to bolster Korea's appeal to global investors, inviting National Tax Service Commissioner Lim Kwang-hyun to share the government's tax policy priorities. During the roundtable in Seoul, AmCham Chairman and CEO James Kim pointed to the uncertainties foreign companies face in areas such as audit procedures, tax interpretation and filing requirements. "Foreign companies also hope to be treated under the sam

Nov. 28, 2025