Kaizenaire Launches Kaizenaire Insider, an Exciting New Initiative Celebrating Singapore Entrepreneurs

Hanwha Engine on Friday reported its third-quarter net income of 11.6 billion won ($8.6 million), down 61.7 percent from a year earlier. The company, which is part of Korea's largest weapons producer Hanwha Group, said in a regulatory filing that its operating profit for the July-September period stood at 40.9 billion won, up 53.7 percent from a year ago. Sales also rose 39.1 percent to 413.6 billion won. The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 41.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Introduced in 1986, LF's premium menswear brand Maestro is one of Korea's longest-running menswear labels, having spent four decades adapting its styles and sizing to better suit Korean men's physiques. Marking its 40th anniversary this year, LF said the brand will be more faithful to “Italian elegance” and seek broader global markets beyond Vietnam. LF announced last month that it will further strengthen Albero, Maestro's high-end line featuring Italian-made products, by expanding partnerships with leading Italian textile manufacturers, including Zegna, Loro Piana, Colombo and Piacenza. The company will also expand its made-to-measure (MTM) tailoring services, which account for 30 percent of the brand's sales, by dividing them into three categories: Su Misura, Alta Sartoria and Sartoria Italia. To cater to growing demand from couples preparing for their weddings and consumers in their 20s and 30s who increasingly reserve suits for special occasions, the brand will also expand its formalwear lineup. The Rome Suit, launched in September to celebrate the brand's 40th anniversary, is de

Hankook Tire & Technology on Friday reported its third-quarter net income of 157.9 billion won ($116.2 million), down a sharp 59.5 percent from a year earlier. The firm, one of the largest tire makers in the world, said in a regulatory filing that it posted 598.8 billion won in operating profit for the quarter, compared with 586 billion won a year ago. Revenue rose 1 percent to 5.46 trillion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 298.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Kia Corp. said Friday it will invest 3 trillion won ($2.2 billion) through 2029 in the southwestern city of Gwangju to establish an ecosystem for purpose-built vehicles (PBVs). The Korean automaker signed a memorandum of understanding with Jeonnam-Gwangju Special Metropolitan City, Chonnam National University, and the Gwangju Institute of Science and Technology (GIST) at its AutoLand plant in Gwangju, about 270 kilometers south of Seoul. Under the agreement, the partners will cooperate in developing PBVs for demand-responsive transport services and testing autonomous PBV shuttles in the city. They will also demonstrate remote driving technology using the PV5 wheelchair-accessible vehicle and test Kia's Easy Swap technology, which allows vehicles to switch between passenger and cargo configurations. Kia said it expects the partnership to strengthen the region's PBV industry and create new growth opportunities by accelerating the development and adoption of advanced mobility services.

Korean food company Nongshim is running a Shin Ramyun food truck in northeastern India to build its brand in a market of 1.4 billion people, the company said Friday. The truck started its tour Oct. 30 and will continue until Nov. 22, making 20 stops in four cities: Guwahati in Assam, Shillong in Meghalaya, Aizawl in Mizoram and Agartala in Tripura. The stops include university campuses and major residential and shopping areas. Shin Ramyun is Nongshim’s flagship spicy instant noodle brand. “Ramyun” is the Korean word for instant noodles. Nongshim said Shin Ramyun suits Indian tastes because the monsoon climate has made warm soups and noodle dishes popular there. The company described the northeast, where the truck is touring, as a key region with a clear taste for spicy food, a strong noodle culture and a warm reception for Korean pop culture. The tour comes as Nongshim expands its distribution network in the region. At the truck, visitors can try the original Shin Ramyun and Shin Ramyun Toomba, a creamy, spicy variant that takes its cue from cream pasta. The noodles are cooked on-s

SK Biopharmaceuticals, a Korean firm focused on developing original prescription drugs, has built a massive artificial intelligence (AI) dataset of more than 7 million chemical entries to streamline candidate screening for new therapies. The project is part of the Ministry of Science and ICT’s program to develop AI foundation models for specific fields. A foundation model is a large AI model trained on vast amounts of data that can be adapted for many tasks. SK Biopharmaceuticals belongs to a medical and health care consortium led by medical AI firm Lunit, along with Trillion Labs, Kakao Healthcare and other companies, universities and hospitals. The consortium built a base model specialized in medical science. It then developed versions focused on three areas: drug development, covering chemical compounds and proteins; omics, the large-scale study of genes and other biological molecules; and clinical research. SK Biopharmaceuticals put together the drug discovery dataset based on what researchers actually need in the lab. The data covers 66 drug development tasks, including predictin

Doosan Corp., a major supplier of core materials for high-tech electronics, is expanding its manufacturing footprint in China to boost production of copper-clad laminates — essential components used in advanced microchips, artificial intelligence servers and smartphones. The company said Friday it signed an investment agreement with Changshu, a city in China's Jiangsu province, to build new copper-clad laminate (CCL) production lines near its existing factory. The agreement was signed Thursday at Suzhou City Hall, with Suzhou Mayor Wang Wei, Doosan President Yoo Seung-woo and Kim In-wook, head of the company's Electronics Business Group, among those in attendance. The project represents the Chinese portion of an investment plan worth approximately 970 billion won (about $670 million), announced by Doosan in September, including approximately 550 billion won earmarked for China. Doosan plans to develop a 185,000-square-meter site near its existing Changshu factory, with investment scheduled to be carried out in stages through 2028. The new production lines are expected to begin operating

U.S. private equity firm Texas Pacific Group (TPG) will acquire the remaining shares in Korea's leading car rental company, Lotte Rental, through a tender offer by early next month, the company said Friday. TPG's wholly owned special purpose vehicle (SPV), Lexicon Korea Holdco Inc., plans to purchase 14 million shares, or a 38.83 percent stake, in Lotte Rental at 59,000 won ($43.50) per share during the tender offer period from Friday through Dec. 3, according to a regulatory filing. The tender offer is valued at 831.7 billion won. "We have launched the tender offer to secure control of the target company, delist it from the Korean stock market and make it a wholly owned subsidiary," Lexicon Korea said in the filing. The bidder plans to settle the tender offer in cash on Dec. 7, paying for all shares, the filing outlined. KB Securities is advising on the deal. Last month, TPG acquired a combined 61.2 percent stake in Lotte Rental for 1.31 trillion won from Lotte Group affiliates Hotel Lotte and Lotte Hotel Busan. Lotte Group, the country's sixth-largest conglomerate by assets, has been sel

Lam Research said Friday it has appointed Kim Tae-won as the new regional vice president of Korea, succeeding Park Joon-hong, who has worked at the U.S. semiconductor equipment maker for nearly 25 years. Kim is a technology expert with more than 20 years of experience in the semiconductor industry, specializing in chemical vapor deposition and etching technologies. Since joining Lam Research in 2008, Kim has served in key positions in productivity solutions, product deployment and process development within the company's etch products group. Kim earned a bachelor's degree in chemical engineering from Seoul National University and a doctorate from the University of California, Santa Barbara. Lam Research Senior Vice President of Global Customer Operations Neil Fernandes said Kim's technical expertise, customer-focused leadership and track record of bringing teams together would help strengthen partnerships with Korean customers and drive further growth and innovation. Outgoing Regional Vice President Park previously held several senior positions at Lam Research, including head of the Surf

Few people who lace up a pair of Nike sneakers have heard of Changshin, but there is a good chance the Busan-based company made them. And before long, those shoes may carry Palantir's technology, too. Palantir Technologies said Friday it has signed a partnership agreement with Changshin, which has been producing Nike sneakers under contract since the 1980s. According to the two sides, Changshin will deploy Palantir’s Foundry and Artificial Intelligence Platform (AIP) across its footwear development and production operations. Foundry integrates and analyzes enterprise-wide data in one place, and AIP brings generative artificial intelligence (AI) into business workflows. Building on these platforms, Changshin said it will seamlessly connect information flows from footwear development and sample production planning to factory operations. This will allow the company to gain a comprehensive view of its manufacturing processes and enable closer collaboration across departments. The partnership is based on the results of a recent AgentCamp, a program in which participants develop AI agents and

Celebrity restaurateur and entrepreneur Paik Jong-won traded his usual role as a restaurant executive for that of a delivery rider, personally bringing pizzas to customers to promote a new menu item from his Paikboy Pizza chain. In a video uploaded Thursday to his YouTube channel, “Paik Jong-won,” Paik spends a day working at a franchise location in South Chungcheong Province as part of his series “My Business, My Way 2.” The visit was inspired by the franchise owner's efforts to personally deliver many orders placed through delivery apps, ensuring customers receive freshly baked pizzas while still warm. Paik joined the deliveries on a motorcycle, surprising customers by bringing an additional pizza he had paid for himself and demonstrating how to finish the new menu item with cheese and crushed red pepper. Several customers appeared startled by the unexpected visit, with some taking commemorative photographs with the restaurant entrepreneur. Paik also kept a promise he made to firefighters he encountered along the way, telling them he would bring pizzas during their lunch break b

Malaysia’s second 5G operator wants startups to do something telcos across the region have struggled to make happen: build for its network before anyone has agreed to pay for the result. U Mobile said on Friday that its Enterprise Innovation Platform (EIP) is deepening its collaboration with Cradle Fund, the government-linked startup agency, to help […] The post U Mobile opens its 5G-Advanced sandbox to Cradle’s startups, but the cheques are not part of the deal appeared first on e27.