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Reporter : Baek Byung-yeul
Wed, October 5, 2022 | 04:10
Naver acquires US fashion marketplace Poshmark for $1.6 billion
Naver acquired U.S.-based fashion marketplace operator Poshmark for $1.6 billion, Korea's top internet search portal said Tuesday. It was the largest acquisition deal so far for the Korean tech giant. Poshmark is the largest consumer-to-consumer (C2C) company in North America that operates an e-commerce marketplace where people can buy and sell new and secondhand apparel and ...
LG chairman asks Poland to support Busan's World Expo bid
LG Group Chairman Koo Kwang-mo, left, poses with Poland's Prime Minister Mateusz Morawiecki after asking for his support for Busan's bid to host the World Expo 2030, at the prime minister's office in Warsaw, Monday. LG Group said Koo thanked the Polish prime minister for the country's support for LG Group's battery business and asked for his backing for Busan's bid to host th...
StradVision aims to supply software to 50% of new cars by 2032
StradVision, a local automotive software company, announced an ambitious vision to supply its software to about half of the cars newly produced in the next 10 years, the company said Tuesday. Established in 2014, the Seoul-based company has become a leader in camera perception software that enables self-driving cars to recognize objects based on AI technology.
Samsung SDI to achieve carbon neutrality by 2050
Samsung SDI has declared the implementation of eco-friendly management as part of its efforts to tackle climate change and achieve sustainable growth, the Samsung Group battery affiliate said Monday. In order to reach net-zero carbon emissions by 2050, the company announced a set of environmental management strategies including eight specific goals under the theme of “respons...
Foreign firms not subject to punishment even if abusing subcontractors: lawmaker
Nike and other foreign companies are easily able to evade the application of the fair trade law here even if they exploit their dominant position over domestic subcontractors by abusing them, which needs to be resolved, according to a lawmaker, Monday. Rep. Park Sung-joon of the Democratic Party of Korea (DPK) said the Fair Trade Commission (FTC) ended its review early this y...
Gov't raises electricity, gas prices amid soaring raw material costs
The government raised electricity and gas prices at the start of this month, as the prices of raw materials such as natural gas and bituminous coal are skyrocketing worldwide due to the ongoing war between Russia and Ukraine, and the chances that Russia could withhold its natural gas supply are increasing, it said Friday.
Hyundai Motor, Kia to benefit from Georgia senator bill for IRA grace period
Hyundai Motor Group's car brands ― Hyundai Motor, Kia and Genesis ― could benefit from a bill proposed by a senator in the U.S. state of Georgia, which proposes a grace period to automakers that are now subject to the Inflation Reduction Act (IRA). The act requires electric vehicles (EVs) that qualify for a consumer tax credit to have their final assembly done in North Americ...
LG CNS, Unity Technologies forge partnership for metaverse business
LG CNS has forged a partnership with U.S.-based game engine maker Unity Technologies so that the two sides will perform businesses in emerging metaverse businesses such as virtual offices, virtual factories and virtual distribution, they said Thursday. LG CNS is the IT service arm of LG Group. Recently, the company has been concentrating on digital transformation-related busi...
[Contribution] Navigating economic uncertainty with empathy
Many organizations across Asia-Pacific are once again tasked with navigating economic uncertainty. As organizations across the region shift their focus from economic recovery to growing inflation, the rising costs of living and doing business are rapidly becoming an increasing concern for local citizens, businesses and government agencies.
Samsung, LG hold CEOs' meetings amid deepening economic downturn
Samsung Group and LG Group are holding presidential-level meetings to prepare to cushion against the impact of a global economic downturn caused by high exchange rates, interest rates and prices, according to industry sources, Tuesday. The sources said Samsung Group held its presidential meeting on Monday at Samsung Electronics Talent Development Center in Yongin, Gyeonggi Pr...
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