LG chief envisions 'future unimaginable without LG' in New Year's address

LG Group Chair Koo Kwang-mo emphasized the conglomerate’s ongoing commitment to challenge and change, envisioning a "future unimaginable without LG" in a New Year’s address delivered to around 270,000 employees worldwide Thursday. Koo was one of the first major conglomerate chiefs here to deliver a New Year’s address. LG has been issuing New Year messages at the end of December since 2022 to help employees reflect on the past year and prepare for the next, according t

TechnologyDec. 19, 2024

Will Shinsegae chief meet Trump at Mar-a-Lago?

Shinsegae Group Chairman Chung Yong-jin met with Donald Trump Jr., the eldest son of US President-elect Donald Trump, at the Mar-a-Lago resort in Florida this week, according to the Korean retail giant on Thursday. The meeting prompted immediate speculations, as Trump’s transition team is conducting much of the planning for the second presidency at the resort. Shinsegae downplayed the visit as Chung’s “personal trip,” saying the visit had been arranged months ago at the i

IndustryDec. 19, 2024

Maker of buldak ramyeon to build first overseas factory in China

South Korean food manufacturer Samyang Foods is set to build its first overseas plant in China in a strategic move to bolster its global presence with its spicy Buldak ramyeon. In a regulatory filing Wednesday, the company unveiled plans for a 201.4 billion won ($139 million) manufacturing facility in Jiaxing, Zhejiang province. The six-line production plant is slated for completion in January 2027. The food company will invest 64.7 billion won to establish a subsidiary in Singapore by late 20

IndustryDec. 19, 2024

Doosan Enerbility to supply SMR parts to US TerraPower

Doosan Enerbility said Thursday that it secured a key component supply contract with TerraPower, a US nuclear reactor startup established by Bill Gates, as it expands its global presence in the nuclear power sector. Under the contract, Doosan Enerbility will carry out a feasibility study and provide design support for manufacturing key components of TerraPower's 345-megawatt small modular reactor project in Wyoming. Doosan Enerbility said it would also start manufacturing reactor guard vess

CompaniesDec. 19, 2024

HD Hyundai chairman donates W200m to alma mater

HD Hyundai Chairman Kwon Oh-gap has donated 200 million won ($138,000) to his alma mater, Hankuk University of Foreign Studies, to enhance its educational facilities and support scholarships, the company said Thursday. Of the total donation, 150 million won will be allocated to introduce the latest equipment and renovate deteriorating facilities, while 50 million won will fund four students' living stipends. “As an alumnus, I felt it was my duty to give back what I received from socie

IndustryDec. 19, 2024

Over 1,500 troops, 100 vehicles, 9,000 live rounds mobilized on martial law night

More than 1,500 military personnel, equipped with a range of firearms, along with over 100 military vehicles, were reportedly mobilized during President Yoon Suk Yeol's martial law declaration on Dec. 3. According to a report released Thursday by Rep. Bak Seung-a of the Democratic Party of Korea, 107 military vehicles were deployed by the Army Special Warfare Command and the Capital Defense Command on the night of the martial law declaration. The report, which Bak received from the Defense

DefenseDec. 19, 2024

DDP lights up for annual winter festival

Dongdaemun Design Plaza in Jung-gu, central Seoul, is celebrating the return of the holiday season with its annual media art festival, which drew up to 620,000 visitors last winter. Seoul Light DDP, jointly hosted and organized by the Seoul Metropolitan Government and Seoul Design Foundation, showcases media artworks by projecting them onto the 222-meter-long exterior of the DDP. This year’s festival, which kicks off on Thursday, will run through Dec. 31, under the theme “5 Cheers!.&

Social AffairsDec. 19, 2024

Seoul city announces 11 civic representatives for New Year's bell-ringing event

The Seoul city government on Thursday announced a list of civic representatives to take part in the bell-ringing ceremony in downtown Seoul at midnight on New Year's Eve. The 11 civic bell ringers were selected from among some 90 people recommended by the public last month for overcoming adversity or doing good deeds to inspire others, committing to sharing and volunteer work, or heightening a sense of national pride on the global stage. The representatives will join in ringing the bell 33

Social AffairsDec. 19, 2024

Two coworkers win lottery within minutes of each other

Two coworkers in Pyeongtaek, Gyeonggi Province, each won 1 billion won ($689,000) within minutes of each other, splitting a two-ticket jackpot, a lottery firm said on Thursday. After the first person saw that he'd won, he told his colleague to immediately buy the next ticket from the same store, which also turned out to be a winner. Their extraordinary stroke of luck came with the Spito 2000, a scratch-off lottery that allows players to instantly verify their prize. The jackpot is award

Social AffairsDec. 19, 2024

[팟캐스트] (646) 탄핵 투표 이후, 기업들은 트럼프 시대의 도전 과제에 집중

After impeachment vote, companies shift to tackling Trump-era challenges 진행자: 홍유, Chelsea Proctor 기사요약: 탄핵 투표가 끝난 후 주요 기업들은 미국의 트럼프 행정부 재임 하에 예상되는 글로벌 경제 변화에 대비하고 있다. [1] South Korea’s parliament voted to impeach President Yoon Suk Yeol on Saturday, marking the culmination of over a week of intense political turmoil following Yoon’s botched attempt to impose martial law on Dec. 3. culmination: 정점 turmoil: 혼란 botched: 잘못하거나 잘못 계획되어 실패한 [2] While the impeachment awaits a final ru

PodcastDec. 19, 2024

AmCham Korea appoints veteran diplomat as new senior adviser

The American Chamber of Commerce in Korea announced Thursday it has named Henry Haggard, a veteran diplomat, as its new US senior adviser. Haggard brings over 25 years of experience in international business and diplomacy, having served in the US State Department and the National Security Council under Presidents Donald Trump and Joe Biden. Notably, he served as political minister counselor at the US Embassy in Seoul and as director of energy diplomacy for Asia and the Middle East. “Haggar

IndustryDec. 19, 2024

KT&G’s global strategy paying off in Asia

KT&G, South Korea's largest tobacco company, is a leading export powerhouse, capturing a growing market share in East and Central Asia, with its conventional cigarette portfolio leading the charge. The firm’s overseas sales achieved an all-time high of 419 billion won ($291 million) in the third quarter this year, marking a 30.5 percent on-year increase. Now almost half of its cigarette sales come from overseas markets. Appealing to local preferences KT&G's internatio

IndustryDec. 19, 2024

Han, Japan's Ishiba agree to continue trilateral cooperation with US against N. Korea-Russia ties

Acting President Han Duck-soo held phone talks with Japanese Prime Minister Shigeru Ishiba on Thursday and agreed to continue trilateral security cooperation with the United States to cope with the deepening military ties between North Korea and Russia, officials said. Han held the phone conversation with Ishiba after President Yoon Suk Yeol was impeached by the National Assembly last Saturday over his short-lived imposition of martial law on Dec. 3. The two sides agreed to work together to stab

PoliticsDec. 19, 2024

Shaman with alleged ties to Yoon attends arrest warrant hearing

A shaman reportedly close to President Yoon Suk Yeol and his wife attended his arrest warrant hearing at a court Thursday after being charged with receiving illegal political funds about six years ago. Jeon Seong-bae, also known as Geon Jin, was detained by prosecutors earlier this week on suspicion of receiving illegal political funds from politicians and candidates who ran for office in the 2018 local elections. Jeon arrived at the Seoul Southern District Court in the morning wearing a white m

PoliticsDec. 19, 2024

[Photo News] World’s first wireless, transparent TV

LG Electronics announced Thursday the global launch of the LG Signature OLED T, the world’s first wireless and transparent TV. The 77-inch TV features a 4K resolution transparent screen with LG’s wireless transmission technology and the ability to switch between opaque and transparent modes at the push of a button. The opaque mode delivers stunning 4K picture quality, while the transparent mode offers an open view of the space behind the screen. Preorders are now open in North Americ

TechnologyDec. 19, 2024

Embattled ex-defense minister defends military's actions during martial law

Former defense minister Kim Yong-hyun, currently being investigated in detention for insurrection and abuse of power charges, justified President Yoon Suk Yeol's Dec.3 martial law declaration and defended the military actions under his orders. "The martial law was to eradicate the anti-state forces and to bequeath the free Korea to the future generation. ... We all know that the president declared the martial law upon my suggestion," he said in a statement released behind bars o

PoliticsDec. 19, 2024

[Beyond the Screen] Seasoned producers discuss film industry's unprecedented challenges

As the global entertainment landscape undergoes a seismic shift, South Korea’s film industry stands at a critical juncture. For more than two decades, industry professionals have weathered countless changes -- from the growth of imported films to the debates on screen quotas and the rise of piracy. Yet, nothing compares to the disruption caused by the COVID-19 pandemic. Heads of South Korean production companies say the challenges range from dwindling content and investment to the need for

FilmDec. 19, 2024

S. Korea to host top East Asian football tournament in 2025

South Korea will host the top East Asian football tournament next summer, a decision reached during the executive meeting of the sport's regional governing body earlier this week. The East Asian Football Federation said Thursday that South Korea will stage the 2025 EAFF E-1 Championship from July 7 to 16 next year. The East Asian competition was first held in 2003, and South Korea previously hosted the event in 2005, 2013 and 2019. The country won the tournament in 2003, 2008, 2015, 2017 an

SoccerDec. 19, 2024

'Yoon's party isn't ruling party': 52.6% of surveyed Koreans say

With support for President Yoon Suk Yeol's People Power Party plummeting after his controversial Dec. 3 martial law, over half of the respondents in a recent survey said Yoon's party should not even be considered a ruling party during his impeachment trial. Local pollster Realmeter on Thursday revealed the results of a survey taken Wednesday on 503 voters across the country, in which 52.6 percent said the People Power Party "was not a ruling party" while Yoon's duties

PoliticsDec. 19, 2024

Senate passes annual defense policy bill, including maintaining USFK troop level

The Senate approved an annual defense policy bill Wednesday that calls for maintaining some 28,500 American troops in South Korea and reaffirming the United States' deterrence commitment to the Asian ally. In an 85-14 vote, the Senate passed the National Defense Authorization Act for fiscal year 2025, which authorizes $895 billion for national defense programs. The House approved the legislation a week ago. Congress passes the bill each year to set defense policy and funding priorities and

DefenseDec. 19, 2024