Hyundai Glovis teams up with Shopee to take K-beauty overseas

The Korea Times - Oct 26, 2026

Hyundai Glovis is joining forces with Shopee to help Korean beauty brands navigate the logistical hurdles of overseas expansion, betting that smoother shipping and customs procedures can turn global demand for K-beauty into a larger business opportunity. The logistics company said Monday it began operating under an end-to-end logistics partnership with Shopee Korea this month, covering the full supply chain for Korean cosmetics brands seeking to sell through the e-commerce platform. Shopee, which has about 700 million users, is a leading e-commerce platform in Southeast Asia and Taiwan and has a significant presence in Brazil, according to Hyundai Glovis. The partnership will provide sellers with a single point of contact for domestic cargo pickup, air and sea freight, import and export customs clearance, local regulatory approvals and fulfillment services. Hyundai Glovis said the integrated system is intended to shorten delivery times and reduce the burden on cosmetics companies that have traditionally relied on separate providers for different stages of shipping, often creating bottlen

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China's humanoids go job hunting amid Korea's bets on physical AI

Oct 23, 2026

China's humanoids go job hunting amid Korea's bets on physical AI

Chinese humanoid robot makers are accelerating efforts to gain a foothold in Korea, moving beyond dance performances and showroom displays to factory trials and other commercial applications as Seoul beefs up investment in physical artificial intelligence (AI). A string of Chinese robotics companies have flexed their muscles or announced projects in the country this year, including Hong Kong-listed Ubtech, startup Anyverse Dynamics, Shanghai-based Agibot and leading robot maker Unitree. “China’s new generation of robot companies has global DNA and naturally looks overseas, and Korea is one of the most important markets in Asia-Pacific,” said Ethan Qi, an associate director covering robotics at Counterpoint Research. The absence of locally built humanoids available at scale has created an opening for Chinese suppliers, he added. Early footprint Representatives of Galaxy Robot Park, a robot-themed entertainment venue in Seoul, agreed to buy Ubtech’s lifelike U1 model after attending its debut in Shenzhen in June, according to Sean Qin, overseas head of the company's commercial robo

Chung Mong-Koo Foundation's pianists sweep international awards

Oct 23, 2026

Chung Mong-Koo Foundation's pianists sweep international awards

Three young Korean pianists — supported by Hyundai Motor Chung Mong-Koo Foundation — have earned international recognition this year, winning top prizes at major competitions in Europe and the United States. Shin Young-ho, 19, placed second in the piano category at the 76th Giovanni Battista Viotti International Music Competition, which concluded in Vercelli, Italy, on Oct. 17. Lee Jeong-woo, 18, won first prize at the 20th George Enescu International Competition in Bucharest, Romania, in September, while Lee Ju-eon, 15, claimed prizes at three international piano competitions in the United States during the first half of the year. The achievements highlight the progress of a new generation of pianists who have received sustained support from the foundation, as they pursue international careers. Shin continued his strong performance on the international competition circuit, following a second-place finish at the Dublin International Piano Competition and a special prize at the Pancho Vladigerov International Piano Competition, both held in 2025. Selected as a foundation scholarship re

Korean builders face risk of losing $755 mil. in unpaid Iraq refinery project

Oct 23, 2026

Korean builders face risk of losing $755 mil. in unpaid Iraq refinery project

Hyundai Engineering & Construction (E&C) and three other local builders are at risk of losing more than 1 trillion won ($755 million) tied up in a major Iraqi refinery project, according to documents obtained by a ruling party lawmaker Friday. Hyundai E&C, GS Engineering & Construction, SK ecoplant and Hyundai Engineering have yet to collect 625.4 billion won in outstanding payments and are facing the possible forfeiture of another 420.2 billion won in performance guarantees. The builders have been seeking payment for work on the $6.8 billion Karbala Refinery Project, commissioned by Iraq's state-owned State Company for Oil Projects (SCOP). Company materials provided to Rep. Lee Jae-gang of the ruling Democratic Party of Korea showed the construction of a refinery capable of processing 140,000 barrels of crude oil per day was delayed by factors including Iraq’s internal conflict and the COVID-19 pandemic. The companies handed over the refinery's facilities to the Iraqi side in December 2023. However, SCOP has withheld payments, citing outstanding defects and missing tax-related docume

Woojin recognized for job creation, improved working conditions

Oct 23, 2026

Woojin recognized for job creation, improved working conditions

Woojin Industrial Systems, a Korean manufacturer of railway vehicles and electric buses, said Friday it has been selected for this year’s Ministry of Employment and Labor recognition program honoring companies for creating jobs and improving working conditions. The annual program recognizes 100 private companies and provides administrative and financial incentives to encourage hiring and improve workplace practices. Woojin said investment outside the Seoul metropolitan area helped drive its employment growth. It completed a 47 billion won ($35 million) electric bus factory in Gimcheon, North Gyeongsang Province, supporting efforts to recruit about 100 local workers. The proportion of the company’s workforce covered by employment insurance rose to 673 at the end of 2025 from 578 in 2024. Woojin attributed the growth to investment and recruitment partnerships with local universities and vocational high schools. Of its 140 new hires in 2025, 64 were aged 15 to 34. The company said expanded recruitment of women and support for maternity protection measures helped reduce its female employ

Financial industry heavyweights compete to head banking lobby

Oct 23, 2026

Financial industry heavyweights compete to head banking lobby

With the Korea Federation of Banks (KFB) set to appoint its next chairman, several former financial executives and regulators are emerging as potential candidates to take the helm of the country’s leading banking lobby, according to industry officials on Friday. The federation represents 23 full members — commercial, regional and internet-only lenders — as well as 33 associate members, comprising branches of foreign banks. The incumbent, Cho Yong-byoung, is due to leave office on Nov. 30. Yoon Jong-kyoo, former chairman of KB Financial Group, has long been viewed as a front-runner. He served as a vice chairman at accounting firm Samil PwC and president of KB Kookmin Bank before leading KB Financial from 2014 to 2023, overseeing major acquisitions including LIG Insurance and Hyundai Securities. But the prospect of another KB Financial veteran taking a top post at a financial industry association has drawn growing resistance. The concern has intensified after Lee Dong-chul, a former KB Financial vice chairman, took the helm of the Credit Finance Association this year, followed by Kim

KEPCO wins UNLEASH award for 2nd straight year

Oct 23, 2026

KEPCO wins UNLEASH award for 2nd straight year

Korea Electric Power Corp. (KEPCO) has won the UNLEASH Learning and Development Award for the second consecutive year, becoming the first Korean company to achieve the feat and reaffirming its global competitiveness in human resource development (HRD), the state-run utility said Friday. The award was presented at UNLEASH World 2026, a major human resources development conference, in Paris on Thursday (local time), according to KEPCO. Established in 2016 by the European Association for People Management and U.K.-based HR technology group UNLEASH, the award recognizes excellence in HRD, based on its strategic impact, organizational role and contribution to business performance. The recognition follows KEPCO's consecutive wins at the ATD Awards, organized by the U.S.-based Association for Talent Development, over the past two years, further demonstrating the company's expertise in employee training and talent management. KEPCO said evaluators recognized its alignment of HRD with business strategy, data-driven personalized training and integration of HRD with human resource management (HRM).

Woori Financial Q3 net falls 16% on one-time factor

Oct 23, 2026

Woori Financial Q3 net falls 16% on one-time factor

Woori Financial Group Inc. on Friday reported a decline in its third-quarter net profit on a one-off factor. Its net profit reached 1.04 trillion won ($784 million) in the July-September period, down 15.7 percent from a year earlier. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 963.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. In the first nine months of the year, the banking group racked up 2.66 trillion won in net profit, down 4.9 percent on-year. Operating profit for the July-September period was 1.41 trillion won, up 43.6 percent from a year ago, and revenue also jumped 66.2 percent to 13.3 trillion won. Interest income rose 1.7 percent on-year to 2.37 trillion won in the third quarter. Its non-interest income, on the other hand, sank 7.6 percent on-year to 581 billion won in the July-September period, Woori said. The financial group's flagship Woori Bank, meanwhile, reported a net profit of 1.02 trillion won in the third quarter, sharply up from a net profit of 736 billion won

Hana Financial Q3 net up 7.9% on rise in interest, non-interest income

Oct 23, 2026

Hana Financial Q3 net up 7.9% on rise in interest, non-interest income

Hana Financial Group Inc. on Friday reported a rise in net profit in the third quarter of the year, driven by a rise in interest and non-interest income. The banking group said it racked up a net profit of 1.22 trillion won ($919 million) in the July-September period, up 7.86 percent from a year earlier. The earnings are higher than market expectations. The average estimate of net profit by analysts stood at 1.21 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Hana Financial posted 1.63 trillion won in operating profit for the quarter, compared with 1.48 trillion won a year ago. Revenue also rose 83.6 percent to 19.99 trillion won. In the first nine months of the year, Hana racked up 3.62 trillion won in net profit, up 5.56 percent on-year, marking the highest ever. Hana Financial posted an interest income of 7.48 trillion won in the January-September period, up 10.37 percent on-year, and its commission income spiked 29.8 percent to 2.14 trillion won over the cited period. Its flagship Hana Bank reaped a net profit of 1.19 trillion won

KSD channels $1.17 mil. funding this year into regional talent, startups in Busan

Oct 23, 2026

KSD channels $1.17 mil. funding this year into regional talent, startups in Busan

The Korea Securities Depository (KSD) has directed funding toward social welfare and innovative businesses, contributing an average of around 1.78 billion won ($1.34 million) annually from 2023 to 2025 and 1.55 billion won for this year, the state-run agency said Friday. Headquartered in Busan, KSD focuses much of its social contribution work on developing local talent, helping young people become financially independent and strengthening the regional economy. Its programs range from scholarships and job training to funding for social enterprises, startups and small and midsize businesses. One such effort is the Open Campus, which introduces university students to KSD’s work and career opportunities in the securities industry. Participants learn about its core functions, including securities settlement, get information on recruitment and speak with current employees. Launched in 2019 with 35 students from five universities, it has grown to 60 students from 12 universities this year. Since 2025, the program has been part of a wider initiative to strengthen Busan’s financial-sector tal

Nongshim brings Shin Ramyun heat to Musinsa pop-up in Osaka

Oct 23, 2026

Nongshim brings Shin Ramyun heat to Musinsa pop-up in Osaka

Nongshim is bringing the flavors of Korea’s instant noodles to Japan’s fashion-conscious young consumers, joining forces with fashion platform Musinsa for a 17-day pop-up event in Osaka that pairs Korean food with fashion and beauty. The Korean food company is operating a Shin Ramyun brand booth at Musinsa Osaka Pop-up Store 2026 at VS in Umeda through Nov. 8. The collaboration aims to introduce Japanese shoppers drawn to Korean fashion to Korean food culture through hands-on experiences, with Umeda serving as a busy commercial district frequented by young consumers and international tourists. At the booth, visitors can sample freshly prepared Shin Ramyun Tomba, using an instant noodle cooker modeled on machines popular along Korea’s Han River, where people cook noodles on-site. Visitors who follow Nongshim Japan’s official Instagram account can try the dish, while those who complete a survey after tasting it can receive Shin Ramyun Rose, with additional branded merchandise available through a prize draw. Shin Ramyun Tomba combines spicy seasoning with a creamy flavor and has gain

Beauty of Joseon expands to 1,263 Boots stores across Britain

Oct 23, 2026

Beauty of Joseon expands to 1,263 Boots stores across Britain

Beauty of Joseon, Korean beauty brand known for its traditional ingredients and modern skin care, has expanded to 1,263 Boots stores across Britain, marking one of the largest retail footprints for a Korean beauty brand in Europe. The brand, owned by Goodai Global, entered Boots in June 2024 and has since expanded rapidly across the British health and beauty retailer’s network, according to a company announcement Friday. Beauty of Joseon also operates dedicated brand displays in 100 Boots stores, the largest such presence among Korean beauty brands at the retailer. The expansion comes as the brand continues to rank among Boots’ top-selling Korean beauty brands, reflecting growing demand for K-beauty products in physical retail stores beyond online channels. In April, Beauty of Joseon held the first solo pop-up by a Korean beauty brand at Boots, at the retailer’s store in Westfield Stratford in London. During the pop-up month, Beauty of Joseon ranked fifth among about 200 skin care brands sold at Boots and first among roughly 20 Korean beauty brands, according to company data. It also

Bereaved family members denounce labor inspection results on Coupang

Oct 23, 2026

Bereaved family members denounce labor inspection results on Coupang

Bereaved family members of industrial accident victims at Coupang on Friday denounced the results of a labor inspection into the online retailer, accusing the labor ministry of giving the company a "free pass." After an inspection of the company, the labor ministry said Thursday it decided not to recommend a criminal investigation into cover-up allegations surrounding the death of a Coupang logistics worker in 2020. The worker died of acute myocardial infarction following an overnight shift, raising suspicions of overwork. While the probe found that Coupang founder Kim Bom-suk had made orders not to keep records indicating the employee had worked hard, the ministry said the statute of limitations for the case had already passed. "(We) denounce the labor ministry for giving Coupang a free pass without a proper investigation," the family members said in a press statement. The bereaved family members said they have requested the state auditor to launch an inspection into the ministry, arguing the government's failure to properly investigate the Coupang case led to the expiry of the statute o

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