South Korea's leading battery manufacturers, LG Energy Solution, Samsung SDI, and SK On, are accelerating efforts to secure domestic production capabilities ahead of the third energy storage system (ESS) central contract market, valued at around 1 trillion won. With the second market emphasizing non-price evaluations such as industrial competitiveness and supply chain reliability, competition for contracts in the upcoming third market is expected to intensify as all three companies establish pro

Hyundai Motor and its labor union resumed wage negotiations after more than 40 days, but no significant progress was made. The union plans to initiate an additional five days of strikes starting August 19.According to industry sources on August 18, the two sides held their 16th round of talks at the Ulsan plant but failed to narrow their differences.As a result, the union will conduct four-hour partial strikes daily from August 19 to 20, followed by an eight-hour full strike on August 21, and ad

The Ethics Committee of the People Power Party summoned four incumbent lawmakers on August 18 to hear their opinions regarding ongoing disciplinary procedures at the party's headquarters in Yeongdeungpo, Seoul.After attending the committee meeting, lawmaker Jung Kyung-tae spoke with reporters, stating, "There were discussions suggesting I contested the primary results. I emphasized that I aimed to uphold the Constitution and democracy of South Korea."Earlier, Jung was reported to the Ethics Comm

Wipi, a social dating application operated by Enrise, is transforming user experiences by integrating artificial intelligence (AI) throughout its services. The platform utilizes a recommendation AI that learns from actual user behavior data, a generative AI matchmaker named 'Mela,' and a safety AI that filters out inappropriate users, thereby enhancing its data-driven AI capabilities.Wipi's strength lies not just in its generative AI model but in the real user data accumulated during service ope

Pulmuone's Chuncheon ice factory has become the first specialized ice manufacturing facility in South Korea to receive Global HACCP certification.On August 18, Pulmuone announced that its Chuncheon ice factory, located in Seomyeon, Chuncheon City, has obtained Global HACCP certification.Global HACCP is a food safety management system that manages food hazards according to internationally recognized standards. It comprehensively evaluates not only the hygiene of the manufacturing process but also

Nathan Michael Chuang, the CEO of AIA Life Insurance, is leaving the company. Until a successor is appointed, Jeon Hye-sook, the Chief Financial Officer (CFO) and Vice President, will serve as interim CEO.AIA Life Insurance announced on August 18 that Chuang has decided to leave AIA to pursue new opportunities.Chuang joined AIA in 2014 and has held several key leadership positions within the group. Over the past four years, he has focused on driving growth strategies, enhancing sales channel com

As the government prepares to announce its second round of public institution relocations, backlash is growing within the financial sector. Following the three major policy banks—Korea Development Bank, Export-Import Bank of Korea, and IBK Industrial Bank of Korea—unions from the Korea Trade Insurance Corporation and the Financial Supervisory Service have also joined the opposition. The dual goals of regional balanced development and maintaining financial and export support functions are now in

This year, the four major financial groups in South Korea—KB, Shinhan, Hana, and Woori—recorded over 11 trillion won in net profit, achieving their highest performance ever and intensifying competition for shareholder returns. They have already resolved to invest over 4 trillion won in share buybacks and cancellations, alongside expanding dividends, indicating a shift from performance competition to shareholder return competition.As of August 18, the total amount allocated for share buybacks and

The government's discussions on the second phase of public institution relocations have prompted strong backlash from the institutions being considered for relocation. The conflict surrounding these relocations is expanding beyond the targeted institutions to the communities where they are currently located.Experts warn that without specific relocation plans that consider the functions and characteristics of each institution, significant turmoil is likely during the policy implementation process