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Reporter : Lee Kyung-min
Tue, January 31, 2023 | 21:57
Kakao faces class action suit, monopoly probe following service outage
Kakao is facing a severe backlash from consumers and regulators following a fire-induced service disruption of Kakao Talk, as a number of users are preparing for a class action lawsuit against the IT giant amid growing calls for a probe into its monopolistic status. In addition, the service failure of ...
Lotte Chemical's acquisition of Iljin Materials 'lowers credit outlook'
Three local credit rating agencies are rushing to lower the outlook for Lotte Chemical, Monday, casting doubt over whether the chemical affiliate of Lotte Group spending 2.7 trillion won ($1.8 billion) to buy Iljin Materials, the country's second-largest copper foil manufacturer, was business overreach.
Maeil Health Nutrition seeks enhanced personal services
Maeil Health Nutrition, formerly Maeil Dairies, has signed a strategic partnership with Hologram Sciences, a consumer-facing personalized nutrition solutions provider based in New York and Boston, for personal healthcare, the Korean firm said Monday.
Korea's last captive Indo-Pacific bottlenose dolphin freed
The last captive Indo-Pacific bottlenose dolphin, Beebong, has been freed in the waters off of Jeju Island, Sunday, after 70 days of training to help it acclimatize to the natural environment after 17 years of captivity, according to the oceans ministry.
Retired KEC officials draw criticism for hefty dividends
Retired officials of Korea Expressway Corp. (KEC) received more than 4.8 billion won ($3.3 million) in dividends from expressway rest stop operators over the past five years, according to a ruling party lawmaker, Sunday, fueling criticism that the land ministry-supervised state-run organization prioritized employees' gains at the expense of taxpayers.
Korea to bolster overseas expansion of hallyu-related businesses
The government will hold K-EXPO VIETNAM 2022, whereby local small and medium-sized firms will be able to identify hallyu-centered market demands and tailor corresponding promotion strategies for Southeast Asia, five ministries said Wednesday. Around 250 hallyu-related industries will attend the event including cultural content creators, consumer goods and food manufacturers a...
LG CNS nurtures digital tech startups
LG CNS, an IT services provider affiliate of LG Group, said Wednesday that seven candidates made it on the list of “Startup Monster,” a nurturing program for budding tech startups launched by the firm. The seven will receive a cash award of 100 million won ($70,200) each and an opportunity to have their business solutions commercialized over the next six months. They are Symb...
NYC, Korean Air, AMCHAM form partnership to boost US minority women-owned businesses
Korean Air Chairman & CEO Cho Won-tae, left, New York City Mayor Eric Adams, center, and American Chamber of Commerce in Korea (AMCHAM) Chairman & CEO James Kim hold a copy of a signed agreement on their new initiatives at New York City Hall, Oct. 11 (local time). Under the new initiative, Korean Air will increase its work with NYC-certified Minority Women-Owned Busin...
KEPCO hit for financial mismanagement, excess welfare benefits
Debt-ridden Korea Electric Power Corp. (KEPCO) came under heavy criticism during an audit by the National Assembly, Tuesday, over its failure to maintain financial soundness and oversee energy voucher programs, as well as over the collusion of a group of company officials seeking a stable post-retirement source of income.
Hyundai Rotem accused of using monopolistic status to raise KTX prices
The price of KTX high-speed trains operated by KORAIL has spiked 49 percent over the past six years, due to what one opposition lawmaker characterized as the result of a monopoly over the public transit market engineered by Hyundai Rotem, a railway vehicle manufacturing affiliate of Hyundai Motor Group. Rep. Choi In-ho of the Democratic Party of Korea said the demands of the ...