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Fri, December 9, 2022 | 18:46

Coupang invests $4.69 bil. to expand logistics infrastructure

Coupang invests $4.69 bil. to expand logistics infrastructure

Coupang has invested 6.2 trillion won ($4.69 billion) over the past 12 years in establishing a nationwide logistics network, the country's largest e-commerce firm said Wednesday. The company invited U.S. Ambassador to Korea Philip Goldberg, Daegu Metropolitan City Deputy Mayor Hong Ui-rak and officials from the Ministry of Science and ICT to its new fulfilment center in Daegu...

Kim Jae-heun | 2022-12-07 16:55

Companies go all out to secure cash amid economic downturn, higher interest rates

Companies go all out to secure cash amid economic downturn, higher interest rates

Major companies are scrambling to increase their cash reserves as it is becoming harder to raise capital on soaring interest rates amid the deepening economic downturn, according to industry officials, Wednesday. The interest rate on business loans has soared to the highest level in 10 years, exceeding 5 percent.

Kim Hyun-bin | 2022-12-07 16:32

Korea to support bio firms' $9.91 billion investment by 2026

Korea to support bio firms' $9.91 billion investment by 2026

Korea will push for deregulation and provide various supportive measures for bio companies to promote their planned investment and nurture the sector as a new growth engine, the industry ministry said Wednesday.

2022-12-07 14:57

Jeep introduces all-new Grand Cherokee in Korea

Jeep introduces all-new Grand Cherokee in Korea

Jeep released its flagship SUV lineup introducing its new Grand Cherokee and Grand Cherokee 4xe during a launch ceremony held at the Grand Walkerhill Seoul, Wednesday. The Grand Cherokee has maintained its title as the most-awarded SUV with more than 700 awards since its first generation was unveiled at the 1992 Detroit Motor Show, according to the company.

Kim Hyun-bin | 2022-12-07 14:09

Apple unveils new pricing policy for Korean app developers

Apple unveils new pricing policy for Korean app developers

Apple said Wednesday it will introduce the new pricing policy, including changes in tax calculation for Korean app developers, from next year in a move to comply with the local antitrust regulator's probe.

2022-12-07 09:33

Samsung chief visits Barakah nuclear plant in UAE

Samsung chief visits Barakah nuclear plant in UAE

Samsung Electronics Chairman Lee Jae-yong visited the construction site of the Barakah nuclear power plant located in Al Dhafra, Abu Dhabi, United Arab Emirates (UAE) to check the business situation and construction progress, as well as offer encouragement to employees, according to the company, Tuesday. This marks Chairman Lee's first overseas business trip after his inaugur...

Kim Hyun-bin | 2022-12-06 16:59

Court orders SK chairman to pay $50.5 million in divorce settlement

Court orders SK chairman to pay $50.5 million in divorce settlement

A court approved the divorce of SK Chairman Chey Tae-won and his wife, Roh Soh-yeong, director of Art Center Nabi. If neither side appeals, the high-powered couple will end their 34 years of marriage marked by ups and downs years after Chey's public acknowledgment that he has been in extramarital relationship with a woman and that they had a child out of wedlock.

Lee Yeon-woo | 2022-12-06 16:41

Volkswagen Group on recovery path in Korea after 'dieselgate'

Volkswagen Group on recovery path in Korea after 'dieselgate'

Volkswagen Group Korea (VWGK) is firmly on the recovery path as it has focused on reviving sales and regaining consumer confidence, which was hurt by the company's diesel emissions scandal in 2015, the group's managing director has said.

2022-12-06 16:13

Ecolab vows to help Korean partners with ESG management

Ecolab vows to help Korean partners with ESG management

Ecolab, a U.S. water, hygiene and infection prevention services provider, promised on Tuesday to increase investments in the Korean market and help clients here manage their businesses in line with environmental, social and corporate governance (ESG) guidelines.

Park Jae-hyuk | 2022-12-06 15:43

SK, Ford break ground for US' biggest EV battery plant

SK, Ford break ground for US' biggest EV battery plant

BlueOval SK, the joint venture between SK On and Ford Motor, broke ground on America's largest electric vehicle (EV) battery plant on a 6.28 million-square-meter site in Glendale, Kentucky, Monday (local time). With the new factory, SK On aims to become the world's third-largest battery supplier by 2025.

Park Jae-hyuk | 2022-12-06 15:39

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