Shinhan Financial Group has reorganized its Indonesian operations under a local financial holding company structure, strengthening its foothold in Southeast Asia and laying the groundwork for further business expansion.The group announced on October 13 that Shinhan Indonesia Bank had transitioned into a business holding company, officially launching Shinhan Financial Group Indonesia. The move marks the first establishment of a local financial holding company in Indonesia by a South Korean financ

CJ Olive Young is accelerating its global expansion by bringing Korean beauty brands to more international consumers through a partnership with Sephora, extending its presence beyond the United States into Southeast Asia and Hong Kong.The South Korean beauty retailer announced on October 12 that its curated retail concept, ‘OLIVE YOUNG K-Beauty Edit,’ had launched at selected Sephora stores and online platforms in Malaysia, Singapore, Thailand and Hong Kong.The latest rollout covers 48 physical

Police are investigating whether Hanjin Group’s holding company, Hanjin KAL, transferred treasury shares worth approximately KRW 66.3 billion to an employee welfare fund to protect Chairman Cho Won-tae’s control of the company rather than primarily to benefit employees.The investigation centers on the transfer of treasury shares to an in-house employee welfare fund, which enabled the shares to carry voting rights. Investigators are examining whether the decision was a legitimate employee welfare

Financial markets are facing a more demanding task in assessing the growth prospects and valuations of artificial intelligence companies. OpenAI's annualized revenue was reported to be approaching $50 billion, approximately $20 billion below an earlier $70 billion figure. Meanwhile, Australian AI data center company Firmus, backed by NVIDIA, withdrew plans for a $5 billion initial public offering. The developments, reported on October 8 and 9, highlight two distinct challenges for investors:

Coway’s beauty subsidiary Hilerby is expanding the U.S. retail footprint of its skincare brand Re, moving beyond online channels after gaining traction with American consumers.Re began selling its products at 50 Costco stores across the United States on October 7, marking its first major expansion into Costco’s offline retail network. The move follows sales through Costco’s online store, Amazon and TikTok Shop.The brand has already seen strong demand through Costco’s online platform. Its Cell to

Hyundai Engineering & Construction is stepping deeper into Europe’s nuclear power market by taking part in the front-end engineering design phase of a planned nuclear project in the Netherlands.Hyundai E&C said Thursday that it has signed a contract with Westinghouse to participate in the first phase of the front-end engineering design, or FEED 1, for the Dutch government’s planned construction of two large-scale nuclear reactors.The project is being developed under the Netherlands’ renewed push

Healthy bakery products are emerging as a new area of opportunity for Korean food brands seeking to expand overseas. Paris Baguette has taken its homegrown healthy bakery brand PARAN LABEL to all of its stores in Singapore, strengthening its push to establish Korean-style bakery products in the Southeast Asian market.PARAN LABEL was launched in South Korea in February 2025 with a focus on what Paris Baguette describes as a new standard for healthy bread. The brand combines proprietary fermentati

Commuters heading home and tourists lining the Thames were greeted by an unusual sight on Monday evening: a giant cup of Shin Ramyun drifting past some of London’s most recognizable landmarks.Nongshim brought the iconic red Shin Ramyun cup to the River Thames on Oct. 6 as part of a new brand campaign aimed at introducing the Korean instant noodle brand to a wider audience in Britain.Standing about six meters tall, the installation set off from Royal Docks in the afternoon before making its way a

Daewoong Pharmaceutical is strengthening its efforts to nurture the next generation of global pharmaceutical talent by giving Korean and Indonesian pharmacy students hands-on experience in developing an overseas market-entry strategy.Daewoong Pharmaceutical said on Oct. 7 that it successfully completed the Industrial Skills Event (ISE), an industry-academia collaboration program conducted with the Korean National Association for Pharmaceutical Students (KNAPS). A total of 80 students participate

The financial and accountability structure surrounding artificial intelligence is becoming more complex. Wall Street is arranging $60 billion to support Anthropic’s access to AI chips, a U.S. startup has introduced a large open-weight model that companies can operate themselves, and the New York City Council has called major AI companies and former researchers to testify about safety measures and responsibility for loss of control. Taken together, the developments show that investment, operation

Medical artificial intelligence company Coreline Soft has secured official AI software certification from the Japan Radiological Society (JRS) for its lung nodule detection software, AVIEW Lung Nodule CAD, further strengthening its foothold in the Japanese medical market.The certification follows re

Celltrion has entered the U.S. market for omalizumab biosimilars with the launch of Omlyclo, aiming to replicate the early market penetration it achieved in Europe and establish the product as a key growth driver in the world’s largest pharmaceutical market.Celltrion said Tuesday that it launched Om

SK hynix said on Oct. 1 that no decision has been made regarding a potential U.S. initial public offering of Solidigm, its NAND flash and enterprise solid-state drive subsidiary, reiterating that it is reviewing various options to strengthen the company’s competitiveness.The statement comes amid gro

LS Electric has secured a large-scale order to supply ultra-high-voltage transformers for a hyperscale AI data center project in North America, strengthening its presence across the region’s expanding power infrastructure market.LS Electric said Wednesday that it signed a $133.41 million contract to

LS Eco Energy is moving into the production of defense-grade rare earth metals in Vietnam as it seeks to establish a non-China supply chain for strategic materials used in aerospace and defense applications.The company said it will invest 11.6 billion won ($8 million) to build a samarium metal produ

SK Group Chairman Chey Tae-won congratulated Nvidia founder and CEO Jensen Huang on receiving the Van Fleet Award at an annual gala hosted by The Korea Society in New York, highlighting the growing partnership between South Korea and the United States in artificial intelligence (AI) and advanced tec

SK hynix's U.S. semiconductor subsidiary Solidigm is reportedly exploring an initial public offering (IPO) that could value the business at up to $150 billion, highlighting the growing importance of enterprise storage in the global artificial intelligence infrastructure market.The potential list

KT is expanding its role in international defense communications standards by joining NATO-led discussions on how commercial 5G and emerging 6G technologies can be applied to military networks.KT said on September 28 that it will participate in the ninth meeting of the NATO Communications and Inform

NC is preparing to put its upcoming fantasy RPG Astrae Oratio through a wider round of testing, inviting selected players from around the world to experience the game ahead of its full launch.The company said Tuesday that the global closed beta test (CBT) for Astrae Oratio, developed by Dynamis One,

Samsung C&T is expanding its presence in Europe’s small modular reactor market through a partnership with GE Vernova, Hitachi and Synthos Green Energy to develop fleets of BWRX-300 reactors across Central and Eastern Europe and the United Kingdom.Samsung C&T’s Engineering & Construction Group said o