Shinsegae, the operator of Korea's major department store chain, on Tuesday reported its third-quarter net profit of 119 billion won ($88.5 million), a 146.4 percent jump from a year earlier. The retailer said in a regulatory filing that operating profit for the July-September period increased 64.7 percent on-year to 164.3 billion won. Revenue also inched up 1.2 percent to 1.65 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 84.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Genesis is stepping up competition in the full-size luxury SUV market with the full-electric GV90, taking aim at German rivals — BMW and Mercedes-Benz — as it seeks to carve out a bigger share of the lucrative high-end segment. The brand unveiled on Tuesday pricing for the GV90, its first full-size flagship SUV, starting at 139.5 million won ($103,000) in Korea. This places the vehicle in a similar price range to the BMW X7 and Mercedes-Benz GLS, positioning Genesis to compete directly for buyers who have traditionally favored German luxury SUVs. The launch represents a significant test for Genesis, which has spent years building its reputation as a premium brand, but has yet to establish the same level of recognition as BMW and Mercedes-Benz in the upper reaches of the luxury market. The GV90 sets itself apart from its rivals with an all-electric powertrain, along with a focus on rear-seat comfort and advanced technology. It uses a 123.5-kilowatt-hour battery, the largest among Hyundai Motor Group's electric vehicles (EVs), and can travel up to 500 kilometers on a single charge. The

Samsung Electronics and LG Electronics are expected to face growing pressure on their TV businesses, as rising prices of Chinese-made LCD panels drive up production costs, particularly for low- and mid-range TVs. According to market tracker Omdia, the cash cost of a 65-inch LCD TV open cell is projected to rise from $112 in 2025 to $116.80 this year and $124.55 in 2027, as higher component and material prices increase manufacturing costs. An open cell refers to an LCD panel before the backlight and other components are assembled into a complete display module. Omdia noted that three Chinese panel makers — CSOT, HKC and BOE — sent official letters to their clients outlining plans to raise prices for some panels starting in September or the fourth quarter. According to another market tracker, TrendForce, LCD panel prices have remained flat, with 55-inch and 65-inch panels holding steady at $123 and $173, respectively, in October and November. However, Omdia expects LCD TV panel makers to successfully raise prices in December as “rising costs approach a tipping point.” LG Electronic

The International Women's Forum Korea (IWF Korea) held one-on-one mentoring sessions for local startups in North Jeolla Province on Saturday to help them evaluate their business strategies and prepare for overseas expansion. IWF Korea said Tuesday that it hosted the "Local Startup Value-Up: Local to Global" mentoring program in Jeonju, North Jeolla Province. The program was organized as part of the 2026 J-Startup Festa and held in conjunction with the 11th Startup Jeonbuk Entrepreneurship Expo in Jeonju's Hanok Village. It was jointly sponsored by the Ministry of SMEs and Startups, North Jeolla Province and the city of Jeonju, with the Jeonbuk Center for Creative Economy and Innovation, the Jeonbuk Business Agency, investment firm Krypton and IWF Korea participating in its organization. The initiative aimed to help local startups leverage regional assets and brands, strengthen their competitiveness as they grow and expand into overseas markets. “Startups based in regional communities can pursue growth with global markets in mind from the very beginning," said Kim Ji-won, organizing co

Samsung Electronics said Tuesday it has supported 1,000 startups, helping attract a cumulative 2.2 trillion won ($1.6 billion) in investment. Notably, the Korean tech giant selects promising entrepreneurs and startups for its C-Lab initiative, choosing 30 companies this year, the company said. Of the selected startups, 15 are currently conducting technology verification projects with Samsung Electronics, with the company seeking to identify further opportunities for business collaborations. Twelve of the startups are based outside the Seoul metropolitan area, Samsung said. Samsung has operated regional C-Lab hubs in the central city of Daegu and the southwestern city of Gwangju since 2023 to foster regional economic development. At an event held Tuesday at its R&D center in southern Seoul, representatives from six startups took the stage to share their growth stories and examples of business collaboration. One of the startups was Config Intelligence, a two-year-old startup, is developing data technologies to train and deploy artificial intelligence (AI) systems for robots. The company has a

Hanwha Aerospace said Tuesday it has become the first company in Korea to win type approval for a marine hydrogen fuel cell from the Korean Register, the country’s ship classification society. The company said this is only the fifth time worldwide that a classification society has granted type approval to a hydrogen fuel cell for ships. Classification societies are independent bodies that set and enforce technical standards for how ships are built and operated. Type approval certifies that a product meets international maritime standards and the society’s own rules. Without it, a hydrogen fuel cell cannot be installed on ships or on offshore structures such as drilling vessels. To receive approval, the manufacturer must prove both performance and safety in harsh sea conditions. Hanwha Aerospace said its system passed marine environment tests for conditions such as vibration and tilting. It also passed the Korean Register’s review of its manufacturing process and quality control system. Hydrogen fuel cells make electricity from a reaction between hydrogen and oxygen, and their only

Lotte Chilsung Beverage said Tuesday it has partnered with Thailand's Charoen Pokphand (CP) Group to expand sales of its beverage and bottled water products in the Southeast Asian country. Under a memorandum of understanding (MOU) signed with CP Group's retail unit, CP AXTRA, Lotte Chilsung will expand its export product portfolio in Thailand and supply customized products exclusively through CP AXTRA's retail network, the company said in a press release. "This agreement is significant as it lays the groundwork for long-term cooperation with CP AXTRA, which operates a nationwide retail network in Thailand," a company official said. Lotte Wellfood also joined the agreement, with plans to jointly develop products tailored to local consumer preferences with CP AXTRA and expand its presence in the Thai market. CP Group has business interests spanning food production, distribution and telecommunications.

POSCO International, the energy and trading arm of POSCO Group, completed its second liquefied natural gas (LNG) terminal in Gwangyang, cementing its position as Korea's top private natural gas operator and reinforcing domestic supply lines. The company held a completion ceremony Tuesday at the Gwangyang LNG terminal, attended by about 100 people, including government officials, business representatives and executives from POSCO Group. The project cost 949.2 billion won ($700 million) and took 47 months to complete, adding two storage tanks, each with a capacity of 200,000 cubic meters, along with supporting facilities. The development also includes a berth capable of accommodating LNG carriers with capacities of up to 270,000 cubic meters and a separate bunkering berth for vessels of up to 20,000 cubic meters. With the completion of the second terminal, the combined storage capacity of POSCO International's first and second terminals has increased from 930,000 kiloliters to 1.33 million kiloliters, the largest capacity operated by a single private company in Korea. The company said the f

Health care equipment maker Ceragem has won nine CES 2027 Innovation Awards for eight products on Tuesday, marking its fourth consecutive year of recognition and bringing its cumulative total to 30 awards. The company has previously won three awards in 2024, six in 2025 and 12 in 2026. This year’s awards include products designed to meet the health care needs of different age groups, from infants and young children to older adults. The eight award-winning products are: Ceragem artificial intelligence (AI) Wellness Home, Therapier AI Multi Boosting Capsule, Youridm AI Muscle Longevity System, AI Sleep Recovery Pillow, AI Pet Wellness Suite, AI Neuro Focus Office Chair, Senior Wellness Sofa with AI Adaptive Care and AI Sensor Pod & Smart Crib. Ceragem AI Wellness Home, which won an award in the AI category, uses physical AI to analyze users' biometric data and daily routines, assess their health status and automatically adjust connected home environments and health care devices to their needs. The platform brings together connected devices, health data and services to deliver personalize

LS Eco Energy, a subsidiary of LS Cable & System, said Tuesday it will begin trial production of samarium metal in December, with the goal of becoming the world's first company to mass-produce the key material for permanent magnets using non-Chinese raw materials. The move is part of the company's efforts to establish a supply chain independent of China ahead of new U.S. restrictions on rare earth materials used in defense applications. According to the company, LS Eco Energy is investing 11.6 billion won ($8 million) to build a samarium metal production facility at its subsidiary LSCV in Ho Chi Minh City, Vietnam. The company plans to begin trial production in December before moving to full-scale mass production. The facility's annual output of 240 tons of samarium metal would be sufficient to produce approximately 700 to 1,000 tons of samarium-cobalt (SmCo) permanent magnets. Samarium is a key material for SmCo permanent magnets, which retain their magnetic strength at high temperatures. SmCo magnets are used in aerospace and defense applications, including fighter jets and missiles. St

Boston Dynamics' humanoid robot Atlas has successfully performed a challenging aerial maneuver, jumping into the air, spinning 360 degrees and landing like a figure skater — all while equipped with wheels instead of feet. The robotics company, a subsidiary of Hyundai Motor Group, released a video Monday showing a wheeled version of Atlas performing a series of demanding movements designed to test the limits of its motors and whole-body control technology. The 2-minute, 50-second video shows Atlas rapidly moving sideways while changing direction on its wheels, executing a full 360-degree spinning jump, balancing on one wheel with the other leg raised and lifting itself off the floor before accelerating forward. The robot successfully completed the 360-degree spinning jump on its first attempt. The achievement followed efforts by the development team to narrow the gap between computer simulations and real-world hardware through a process known as "sim-to-real" transfer. Engineers also used reinforcement learning, a machine-learning technique in which robots improve their performance throu

The largest of three labor unions at Seoul Metro threatened Tuesday to launch a general strike on Nov. 25 unless its demands, including additional staff recruitment and wage increases, are met. Union 1 of Seoul Metro, which operates subway Lines 1-8 and parts of Line 9, issued the warning at a news conference following a meeting of senior union members. The union initially sought a 5.2 percent wage increase but lowered its demand to 3.5 percent in negotiations with management. It also calls for scrapping a plan to cut 2,212 jobs and hiring an additional 1,313 workers this year to address staff shortages. Other demands include state funding for public services and a requirement that all field work be performed by two-person teams. The union said 7,782, or 84.6 percent, of its 9,201 members recently participated in a vote, with 6,715, or 86.3 percent of those who voted, backing the strike plan. Unions 2 and 3 also approved the strike plan, with 80.8 percent and 94.9 percent of their respective members voting in favor. Union 1 said it and Union 2 plan to launch a "work-to-rule" campaign on N

F&F on Tuesday reported its third-quarter net income of 65.9 billion won ($49.3 million), down 34.6 percent from a year earlier. Operating income for the July-September period was 108.4 billion won, down 15.3 percent from a year ago, the fashion and beauty retailer said in a regulatory filing. Sales also backtracked 4.7 percent to 452.1 billion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 96.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

LG Energy Solution has won a CES 2027 Innovation Award for software that can assess the condition and remaining performance of used batteries, marking the second consecutive year the company has been recognized for a software-based solution. The company said Tuesday that its Re.Pulse solution, which assesses the health and remaining performance of used batteries, was named an honoree in the awards' Vehicle Tech and Advanced Mobility category. The system sends specific electrical pulses through a battery, measures changes in voltage and analyzes the data using its proprietary AI model to quickly assess the battery's condition. The company said the assessment will allow operators to determine whether a used battery is best suited for reuse, remanufacturing or recycling, helping get the most value out of each battery. "This CES Innovation Award recognizes the strength of our battery diagnostic technology and software capabilities," a company official said. "We will continue to advance our diagnostic and management technologies to unlock greater value from used batteries and help build a sus

Samsung SDI has won CES 2027 Innovation Award for its prismatic battery solution for uninterruptible power supply (UPS) systems. The battery maker said Tuesday that its SDI U8A3-UPS was named an honoree in the awards’ Enterprise Tech category. A UPS is a battery-based backup system that supplies emergency power to critical facilities, including data centers, when the main power supply is unexpectedly interrupted. "This award recognizes the innovation of a critical power solution for the artificial intelligence era," a company official said. "We will continue to lead the market with products that combine the performance and safety our customers demand." The company explained that its solution stands out for its high-power output, high energy density and fire safety. Using lithium manganese oxide prismatic cells, the battery offers high power output and energy density while taking up 33 percent less space than existing products. This allows operators to maintain a stable power supply with fewer battery units. The system is also designed to provide additional power when electricity demand s

Kolmar Korea's artificial intelligence (AI)-powered lipstick system, ChromaFlow, won the Best of Innovation award in the beauty technology category for CES 2027, marking the first case of consecutive wins in the category, the company said Tuesday. ChromaFlow also received an Innovation Award in the AI category, while its LumiJet Pro skin care device won another award in that category, bringing Kolmar Korea’s total honors at CES 2027 to three across two products. The company said the recognition follows its award for the Scar Beauty Device, an AI-based wound care and makeup coverage device, at CES 2026. It plans to exhibit both award-winning products at the Venetian Expo in Las Vegas during CES 2027, scheduled for Jan. 6 to 9. ChromaFlow is designed to reproduce a lip color while accounting for differences in users’ lip tones, which can affect how the same lipstick shade appears on different people. When held against the lips, an optical sensor analyzes their condition. The system then calculates a customized formula and combines material from seven color cartridges to produce a lip p

The Fair Trade Commission (FTC) has launched a formal review of Naver Financial’s planned acquisition of Dunamu, saying the deal could substantially restrict competition across multiple markets, including online payments and digital asset exchanges, the watchdog said Tuesday. The deal involves a comprehensive stock swap under which Naver Financial would acquire all shares of Dunamu. In return, Dunamu shareholders would receive about 2.54 shares of Naver Financial for each Dunamu share. Dunamu is the operator of the nation’s leading crypto exchange Upbit. If completed, Naver Financial would become Dunamu’s sole parent company, while Dunamu would become its wholly owned subsidiary. The proposed acquisition raises competition concerns in several relevant markets. The companies submitted proposed remedies to ease such concerns, and the FTC initiated a review of the measures proposed by the two firms. Naver Financial seeks to bring one of Korea’s largest digital asset exchanges into its financial portfolio. The watchdog is expected to hold a hearing on the case soon. Final approval, re

Dongwon Industries on Tuesday reported a third-quarter net profit of 62.7 billion won ($46.9 million), down 38.3 percent from a year earlier. Operating income for the July-September period was 149.7 billion won, up 1.1 percent from a year ago, the fisheries and food distribution company said in a regulatory filing. Revenue also rose 6.6 percent to 2.75 trillion won.

Nvidia founder and CEO Jensen Huang has admitted to having an extramarital affair as the chipmaker investigates reported allegations that a Chinese businesswoman close to him may have been working for Beijing’s intelligence services. Beijing has rejected the espionage claims as “baseless”, while Nvidia has said it had no reason to believe company secrets or US national security were compromised. The controversy wiped about US$190 billion off the chipmaker’s market value in a single day. US...

Shubao, the youngest giant panda at Everland, has drawn about 50,000 visitors in roughly 10 days since she first went on public view, the theme park’s operator said Tuesday. Samsung C&T’s resort division, which runs Everland in Yongin, Gyeonggi Province, said the cub began appearing at the park’s Panda World enclosure on Oct. 30. She was on view for about an hour a day in her first week. Everland has since raised that to three to four hours as she gets used to visitors. Shubao was born June 3 to mother Aibao and father Lebao. She is the fourth giant panda born in Korea, after Fubao in 2020 and twins Ruibao and Huibao in 2023. Fubao moved to China in April 2024. Crowds are also coming to see the twins before they leave for China in the third week of December. Under international conservation rules, giant pandas born outside China must move there before they turn 4, when they reach breeding age. About 100,000 people have visited the twins at their enclosure in the month or so since Everland announced their departure. The twins will start a month of quarantine on Friday, but will stay

The event is set to take place in June 2027, with tickets coming out at the end of November 2026.

The Fair Trade Commission (FTC) has launched a formal review of Naver Financial’s planned acquisition of Dunamu, saying the deal could substantially restrict competition across multiple markets, including online payments and digital asset exchanges, the watchdog said Tuesday. The deal involves a comprehensive stock swap under which Naver Financial would acquire all shares of Dunamu. In return, Dunamu shareholders would receive about 2.54 shares of Naver Financial for each Dunamu share. Dunamu is the operator of the nation’s leading crypto exchange Upbit. If completed, Naver Financial would become Dunamu’s sole parent company, while Dunamu would become its wholly owned subsidiary. The proposed merger raises competition concerns in several relevant markets. The companies reported their corrective measures to ease such concerns, and the FTC initiated a review of the measured proposed by the two firms. Naver Financial seeks to bring one of Korea’s largest digital asset exchanges under its financial portfolio. The watchdog is expected to hold a hearing on the case soon. Final approval,

Freezers in dozens of stores across at least 11 countries were cranked up remotely, in a hack that cost less than $10. It should worry Australians.

Scott Farquhar and Mike Cannon-Brookes once held equal stakes in the software giant, but Farquhar is now selling shares, while Cannon-Brookes buys up.

Prices for Nvidia graphics processing units (GPUs) are falling in China’s largest electronics market, as traders shrug off the frenzy of market speculation over tightening export controls in the wake of the US midterm elections and the Jensen Huang affair. The US chip giant’s top-of-the-range GeForce RTX 5090 graphics card surged in price last month at Shenzhen’s Huaqiangbei market, but that was mostly driven by rumours that Nvidia was going to halt production to focus on high-end enterprise...

NVIDIA shares fell after the CEO’s admission prompted a board investigation, raising questions about his future at the company he co-founded.

The rumoured change could see a single button handle camera access, app launches and shortcuts.

More than 80 Xiaomi, Redmi, and Poco phones and tablets are scheduled to receive the update.

Nvidia is facing an unprecedented valuation test as a board inquiry into CEO Jensen Huang exposes the US chipmaker to a rare key-person risk, while investors also weigh the midterm elections’ potential impact on Washington’s chip controls and AI regulation. The company’s shares slumped 7.3 per cent as markets opened in the United States on Monday, following Huang’s bombshell confirmation over the weekend that he had been unfaithful to his wife and would cooperate with an investigation into his...

Hoban Group’s rise as Hanjin KAL’s largest shareholder is giving Delta Air Lines greater leverage in the power struggle over Korean Air’s holding company as Chairman Cho Won-tae seeks to retain control. Hoban and its affiliates held a 20.69 percent stake in Hanjin KAL as of Wednesday, narrowly surpassing Cho and related parties at 20.58 percent. Cho has agreed to purchase another 325,000 shares for 37.05 billion won ($27 million), which could lift his side’s stake to 21.06 percent and restore its position as the largest shareholder. The increasingly close shareholding structure, however, has heightened the importance of major shareholders outside the two rival camps. Delta owns 14.9 percent of Hanjin KAL, while the state-run Korea Development Bank (KDB) holds 10.58 percent. Together with Cho’s stake, the three parties account for about 46 percent of Hanjin KAL. Excluding KDB from consideration for any future Korean Air deal due to its unique status as a public financial institution, Delta is emerging as an unexpected beneficiary of the renewed power struggle between Cho and Ho