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Samsung Heavy launches US research hub in San Diego with SDSU
Samsung Heavy Industries said Friday it has opened its first research hub in the United States in partnership with San Diego State University, aiming to strengthen technological cooperation and support the revival of the US shipbuilding industry. The new facility, named the SHI-SDSU Advanced Maritime Center (SSAM Center), was established in San Diego. The opening ceremony was attended by about 60 officials, including Samsung Heavy Industries Chief Operating Officer Lee Wang-keun, SDSU Vice Presi
March 13, 2026 -
AI demand pushes LG Innotek chip substrate lines near full capacity
LG Innotek’s semiconductor substrate business is emerging as a key growth engine, with factories running at 80 percent of capacity as demand rises alongside the expansion of artificial intelligence infrastructure. According to the company’s 2025 business report released Thursday, the average use rate of its semiconductor substrate lines reached 80.8 percent last year, up sharply from 63.2 percent in 2023 and 75.6 percent in 2024. The rebound has driven strong growth in LG Innotek’s Package Solut
March 13, 2026 -
PM Kim Min-seok meets Vance in Washington to discuss trade, investment plan
South Korean Prime Minister Kim Min-seok met US Vice President JD Vance in Washington on Thursday, where the two discussed bilateral trade issues, including the implementation of a Korea-US investment framework agreed upon by President Lee Jae Myung and US President Donald Trump last year. Vance welcomed the South Korean National Assembly passing the US investment bill, and called for continued close cooperation between the two countries, South Korean the Prime Minister's Office said Friday. "(I
March 13, 2026 -
Mercedes-Benz Korea partners with chef Son Jong-won in brand campaign
Mercedes-Benz Korea has launched a brand partnership program called “Mercedes-Benz Mate,” collaborating with renowned individuals across fields to communicate the brand’s values to the public in a more approachable way. As the first partner in the program, the company has teamed up with Son Jong-won, a prominent figure in Korea’s fine-dining scene. Son currently operates a French fine-dining restaurant and a Korean restaurant, both of which hold one Michelin star. Under the partnership, Son will
March 13, 2026 -
STGEN Bio bets W110b on biologics capacity expansion
STGEN Bio, a South Korean biopharmaceutical contract development and manufacturing organization, said Friday it will invest about 110 billion won ($82 million) to expand its biopharmaceutical manufacturing facilities, aiming to strengthen its global position amid rising demand for biologics. The investment will be used to expand the company’s drug substance and drug product production facilities, along with upgrades to related infrastructure. Construction is scheduled to begin in the first quart
March 13, 2026 -
US trade probe puts pressure on South Korea over surplus
The US has launched a sweeping trade investigation into 16 key trading partners, including South Korea, China and Japan, in a move that could set the stage for new tariffs as the Trump administration seeks to restore duties recently struck down by the US Supreme Court. The US Trade Representative Jamieson Greer said Wednesday his office would begin a probe under Section 301 of the 1974 Trade Act. The legal tool allows Washington to investigate foreign trade practices deemed unfair, and depending
March 12, 2026 -
NCSoft targets W5tr in revenue by 2030
NCSoft said Thursday it aims to achieve 5 trillion won ($3.4 billion) in annual revenue by 2030, outlining the goal during its 2026 Management Strategy Briefing held at the company’s R&D Center in Pangyo, Seongnam. The game developer presented three core growth strategies: expanding its legacy intellectual property, developing new IPs and growing its mobile casual gaming business, while continuing to strengthen major franchises including Lineage, Aion, Guild Wars 2 and Blade & Soul. To secure ne
March 12, 2026 -
Estee Lauder's Lab Series exits Korea department stores after 35 years
US cosmetics giant Estee Lauder Companies is pulling its men’s skin care brand Lab Series from South Korea’s traditional retail channels after more than three decades, shifting its focus to online and multibrand outlets, industry sources said Thursday. The brand is set to exit all domestic department stores this year — including Lotte Department Store Myeongdong by August — ending a run that began with its debut at the same retailer in 1991. The move marks a retreat for a label that once defined
March 12, 2026 -
Hyosung Heavy secures first ESS project in Australia
Hyosung Heavy Industries said Thursday it has signed a 142.5 billion won ($96.3 million) contract in Australia to build energy storage system infrastructure, marking the company’s first ESS supply project in the country. The Korean power equipment manufacturer signed the agreement with Tangkam BESS, an Australian project company, to construct a 100-megawatt, 200-megawatt-hour battery energy storage system in Tangkam, Queensland, near Brisbane on Australia's eastern coast. The system will be capa
March 12, 2026 -
KMI partners with Guardant Health on liquid biopsy cancer screening
The Korea Medical Institute said Tuesday it has signed a memorandum of understanding with US-based Guardant Health to collaborate on liquid biopsy-based precision cancer screening. The agreement was signed March 5 at the KMI Foundation headquarters in Seoul, with KMI Chairman Lee Kwang-bae, KMI Strategic Planning Office Head Lee Kwang-yup, Guardant Health AMEA Vice President Divya Mehta, and Guardant Health Korea Country Manager Michael Jung in attendance. Under the partnership, the two organiza
March 12, 2026 -
Taihan Cable breaks ground on Vietnam UHV cable plant
Taihan Cable & Solution said Thursday its Vietnamese subsidiary, Taihan Cable Vina, has begun construction of an ultrahigh voltage cable plant in southern Vietnam, marking the company’s first overseas facility dedicated to 400-kilovolt-class cables. The project is part of the Korean cable maker’s strategy to expand its global manufacturing network and meet rising demand for power grid infrastructure worldwide. The new facility will be built on a 56,200-square-meter site within the Long Thanh Ind
March 12, 2026 -
Starbucks taps Seoul flavors
Starbucks Korea said Thursday it will introduce Seoul-themed beverages — Seoul Makgeolli Cold Brew and Seoul Sunset Omija Fizzio — at 100 stores across Seoul starting Monday. The drinks reinterpret traditional Korean elements, including the aroma of makgeolli, a traditional Korean rice wine, and the sunset over palace ponds. The rollout will begin at stores in major tourist districts such as Myeong-dong, Gwanghwamun and Gangnam, as the number of foreign visitors to Korea reached a record 18.7 mi
March 12, 2026 -
AMD's Lisa Su to visit S. Korea next week, may meet with Samsung chief
Lisa Su, the head of Advanced Micro Devices Inc., is expected to visit South Korea next week and meet with local conglomerate executives, industry sources said Wednesday. The chief executive officer of the US chip giant may arrive in South Korea next Wednesday, in what would be her first trip to the country since taking the position in 2014, the sources said. During her visit, Su is expected to meet with Choi Soo-yeon, the CEO of the country's largest local portal operator, Naver. A meeting with
March 11, 2026 -
Mirae Asset Securities launches first global pension desk
Mirae Asset Securities said it would launch the industry’s first dedicated service center for global companies in Korea’s expanding retirement pension market. The new unit, called the Global Pension Desk or GPD, is designed to help multinational corporations navigate Korea’s complex pension regulations and align local operations with global standards. The desk will operate through a specialized network of certified tax accountants, actuaries, financial analysts and labor attorneys, providing int
March 11, 2026 -
Hyundai Motor tops Volkswagen in profit for first time
South Korea’s Hyundai Motor Group recorded the world’s second-largest operating profit among global automakers last year, surpassing Germany’s Volkswagen Group for the first time, industry data showed Wednesday. The group — which includes Hyundai Motor, Kia and luxury brand Genesis — posted 20.5 trillion won ($13.95 billion) in operating profit in 2025. That placed it behind only Toyota Motor Corporation, which topped the list with 4.3 trillion yen ($27.15 billion) in operating profit. Market wa
March 11, 2026