South Korean car-sharing operator Socar reported record third-quarter revenue Friday as stronger vehicle utilization and improved operating efficiency lifted profits. Revenue rose 21 percent from a year earlier to 135.2 billion won ($101.2 million), while operating profit jumped 43 percent to 9.8 billion won. Net profit also surged 743 percent to 13.4 billion won. Revenue from the company’s core car-sharing business rose 16.8 percent year on year to a record 10

SK Biopharmaceuticals has launched its epilepsy drug cenobamate in Japan under the brand name "Xcopri," following its launches in China and South Korea, the pharmaceutical company said on Friday. Its Japanese partner, Ono Pharmaceutical, is now selling the drug in four doses for adults with partial-onset seizures. The launch follows regulatory approval in Japan in September. Approved in about 50 countries and regions, cenobamate is marketed directly by SK

Labor disputes are deepening at Samsung Biologics as its unionized workers continue their strike, which began last week, entering the second week of their partial walkout. The biopharmaceutical company said on Friday that about 500 workers are participating in the strike, which began on Nov. 6 and is scheduled to run through Nov. 27, but no production disruptions or business losses have been reported so far. Wage-related talks are scheduled to resume next Tuesday a

South Korea's KOSDAQ rose 0.45 percent to 699.66 on Friday after reaching an intraday high of 725.81, giving up most of its earlier gains. Institutions bought 126.2 billion won ($94.6 million) worth of shares, while foreign investors sold 75.5 billion won and retail investors followed by selling 56.3 billion won worth of shares. Among the most actively traded stocks by volume, KBI Metal surged 26.58 percent to 4,620 won, Yellow Balloon climbed 15.09 percent to 3,585 won and Ecocap gained

South Korea's KOSPI fell 0.98 percent to 5,290.53 on Friday after touching an intraday high of 5,504.44, while Korea Electric Power Corp. plunged nearly 10 percent following disappointing third-quarter earnings. Foreign investors sold 550.5 billion won ($412.6 million), while retail investors bought 17.4 billion won and institutions followed with purchase of 2.1 billion won. Among the most actively traded stocks by volume, Samsung Electronics slipped 0.48 percent to 207,000 won, while Kum

Hanwha Aerospace has been selected as the preferred bidder for a 177.3 billion won (US$123 million) project to develop a homegrown 10,000-pound-class turbofan engine for a low-observable reconnaissance drone, the company said on Friday. Led by the Agency for Defense Development (ADD) and backed by the Defense Acquisition Program Administration (DAPA), the project will run through October 2031 and aims to secure key technologies for advanced aircraft engines. Hanwha

HiteJinro’s third-quarter operating profit rose 6.2 percent from a year earlier to 57.7 billion won ($43.3 million), even as sales of both its soju and beer fell, the South Korean liquor maker said Friday. Revenue dropped 5.5 percent to 632.4 billion won. Soju, its largest business, saw sales fall 3.5 percent to 367.5 billion won, but operating profit in the segment climbed 7 percent to 45 billion won. Beer sales slid 9.7 percent to 204.4 billion won, while b

South Korean stocks surrendered an early rally of more than 2 percent Friday afternoon, as foreign selling dragged the KOSPI into negative territory and weighed on chip stocks. The KOSPI fell 0.67 percent to 5,306.74 as of 1:43 p.m., while the junior KOSDAQ held onto a 1.48 percent gain at 706.81. Foreign investors sold a net 354.6 billion won ($265 million) of KOSPI shares, reversing their morning purchases. SK hynix dropped 3.19 percent to 1,214,000 won, while Sam

Google is teaming up with Samsung Electronics and eyewear brands Gentle Monster and Warby Parker to launch Gemini-powered smart glasses in South Korea and the U.S., expanding its AI services into wearable devices. The new lineup, unveiled on Friday, is available for preorder ahead of its release on Dec. 10. The Gentle Monster collection will be sold in both markets, while Warby Parker's version will be available only in the United States. The glasses feature a c

Big Tech gains lifted the value of South Korea’s National Pension Service (NPS) U.S. stock holdings by 2.4 percent to $158.74 billion in the third quarter, according to its filing with the U.S. Securities and Exchange Commission (SEC) Thursday. The so-called Magnificent Seven added $5.5 billion in value, more than the portfolio’s overall $3.66 billion increase, as losses in other semiconductor holdings offset some of the gains. A stronger won neverthele