NetworkNewsBreaks – Grapefruit Boulevard Investments Inc. (IGNG) Files Quarterly Report; Seeks Company Name & Ticker Change

Korea’s low-cost carrier (LCC) industry is heading for a major shakeup, as VIG Partners moves to acquire Air Premia, seeking synergies by combining the long-haul-focused carrier with its existing Eastar Jet, which has a stronger presence on short-haul routes. VIG is reportedly in negotiations with AP Holdings and Tire Bank to acquire about 70 percent of Air Premia, with the transaction valued at around 300 billion won ($217 million). The potential deal would mark VIG’s second major move in Korea’s LCC industry since it acquired Eastar Jet in 2023. The latest move would give the private equity firm access to two airlines with distinctly different route strategies: Eastar has focused largely on short- and medium-haul routes, while Air Premia has built its business around long-haul services, including flights particularly to the United States. The combination could therefore offer a way to build scale across a broader network, rather than simply adding another airline to VIG’s portfolio. Eastar Jet and Air Premia generated combined sales of about 1.21 trillion won last year, accordi

As artificial intelligence (AI) becomes a standard tool across the legal profession and beyond, clients will ultimately judge law firms not by whether or how much they use the technology, but by the quality of the results they deliver with it, said Yi Joon-ki, managing partner of Bae, Kim & Lee (BKL). “Clients do not really care what tools we use,” Yi said in a recent interview with The Korea Times at his office. “What they want is a compelling and useful analysis — one that addresses their needs. In the end, it is BKL’s judgment, and BKL will be responsible for it. As long as we deliver a reliable answer, that is what matters to them.” The Seoul-based law firm has emerged as one of the most active adopters of generative AI among Korean law firms, rolling out the technology across the organization this year after conducting pilot projects in litigation, legal research, due diligence, document drafting and other legal tasks. Yi said BKL’s broader ambition is not merely to automate routine work, but to redesign legal workflows so that lawyers can deliver deeper analysis, sha

LG Group is expanding its partnerships with Big Tech companies in artificial intelligence (AI) data center infrastructure, with Chairman Koo Kwang-mo’s engagement with leaders of Microsoft and Nvidia leading to collaboration opportunities in areas including cooling systems, batteries and robotics components. LG Electronics said in a LinkedIn post on Tuesday that Koo met Microsoft Chairman and CEO Satya Nadella at the latter's headquarters in Redmond, Washington, on Monday (local time), and discussed strategic collaboration in AI data center infrastructure, AI transformation and physical AI. In AI data center infrastructure, the two sides will explore business opportunities for LG to supply cooling, power and infrastructure solutions in support of Microsoft’s global data center expansion. In the short term, the two sides will concentrate on supplying LG Electronics’ high-capacity cooling solutions for Microsoft’s AI data center projects at key strategic locations, while expanding their collaboration over the medium to long term to prefabricated data centers. Prefabricated data cen

Korean defense and railway systems manufacturer Hyundai Rotem said Tuesday it has signed a memorandum of understanding with Hyundai Motor to bring the automaker's smart factory technology into its aerospace production facility, aiming to improve workplace safety and product quality. Under the agreement, the two Hyundai Motor Group affiliates will work together to introduce automated systems at Hyundai Rotem's aerospace plant. Hyundai Rotem has been developing technology for ducted ramjet and hypersonic engines, as well as methane engines for reusable launch vehicles, through projects with the Agency for Defense Development (ADD) and the Korea Research Institute for Defense Technology Planning and Advancement — Korea's state-run defense research bodies. The company plans to apply Hyundai Motor's AI-based smart factory technology to high-risk stages of its aerospace manufacturing process, aiming to create safer working conditions while strengthening quality competitiveness. Hyundai Rotem said a safety incident could disrupt development and production schedules for its advanced aerospac

Korean power equipment and industrial automation solution provider LS Electric said Tuesday it has put two of Boston Dynamics' four-legged Spot robots into regular operation at its Busan plant, using them to monitor production equipment and support quality and safety management as part of a broader smart factory push. The company worked with Hyundai Autoever, a systems integration affiliate of Hyundai Motor Group, for a roughly two-month trial run starting in July before formally deploying the two robots. The Busan plant is LS Electric's main production site for ultrahigh-voltage transformers, a market seeing rising global demand as investment in AI data centers and power grids accelerates. The company said Spot will help build a predictive maintenance system that flags equipment problems before they cause production delays. The robots are being used to monitor vapor phase drying, a core part of transformer manufacturing in which components are dried in a vacuum chamber. Spot's onboard thermal camera checks chamber door seals and detects heat leaks without physical contact, while sensor

TikTok held its first standalone K-beauty pop-up event on TikTok Shop in the United Kingdom, bringing together 19 Korean beauty brands at Protein Studios in London's Shoreditch neighborhood from Sept. 12-13, the company said Tuesday. The two-day event, called "Where Glow Begins," ran alongside an in-app campaign, "K-Beauty Super Brand Week," from Sept. 13-18. TikTok Shop is the platform's built-in e-commerce feature, allowing users to buy products directly through videos and livestreams without leaving the app. The venue featured brand booths, a livestream commerce zone, beauty masterclasses and photo areas, with about 400 creators taking part in product trials, content creation and livestreamed broadcasts over the campaign period. K-beauty has been one of the fastest-growing categories on TikTok Shop UK. The number of active K-beauty sellers on the platform rose 875 percent as of August compared with a year earlier, while K-beauty livestream sessions increased more than 305 percent over the same period. K-beauty product sales grew about 60 percent in the second quarter of this year com

Korean biopharmaceutical company Celltrion said Tuesday it has renewed European Good Manufacturing Practice (EU-GMP) certification for its Songdo campus production facilities, covering a combined 250,000 liters of capacity across drug substance and drug product manufacturing. The certification, issued by the European Medicines Agency, confirms that a facility meets European Union quality standards required to supply pharmaceutical products to the European market. The renewal applies to Celltrion's Plants 1, 2 and 3 at its Songdo campus in Incheon, west of Seoul. The company said it plans to expand total production volume at the campus by about 15 percent this year compared with last year, driven largely by output from Plant 3, which began commercial production in late 2024. Celltrion projects Plant 3 will produce 128 batches this year, up about 142 percent from a year earlier, as the newer facility stabilizes operations. The company is also preparing to bring a new drug product plant online, having received building-use approval from the Incheon Free Economic Zone Authority in June. The f

CJ OliveNetworks said Tuesday that its gift card transaction value rose more than 33 percent in the first half of 2026 from a year earlier, setting a record for a six-month period as corporate demand for rewards helped expand its business-to-business sales. The company said annual transaction value rose about 27 percent last year, as gift cards increasingly moved beyond personal gifting into customer rewards, marketing programs and employee benefits. In July, CJ OliveNetworks began supplying CJ Gift Cards and Olive Young gift cards as rewards for LG Uplus home services, covering internet, IPTV and telephone subscriptions and renewals. Customers signing up for or renewing eligible services can receive gift cards worth up to 400,000 won ($291), depending on their service and contract terms. CJ OliveNetworks said the partnership broadens its reach among households and gives LG Uplus customers a wider range of reward options. The company has also expanded where its integrated CJ Gift Card can be used, adding more than 5,700 Emart24 stores nationwide at the start of the year. The card can now b

CJ CheilJedang is taking Korean distilled spirits to New York, unveiling its premium jari brand as it seeks to introduce Korean drinking culture to consumers in one of the world’s most influential food cities. The company is holding a launch event Tuesday (local time) at Moono, a modern Korean restaurant in Manhattan, where it is presenting three jari products alongside a Korean food pairing dinner. The lineup includes jari Munbae Sul 24 and jari Gamuchee 24, which were released in Korea in July, and jari Munbae Sul 41, which is making its U.S. debut. The higher-proof Munbae Sul 41 is designed to offer a deeper expression of the distinctive aroma of munbae, a pear-like fragrance associated with traditional Korean distilled spirits, according to CJ CheilJedang. CJ CheilJedang’s Lifestyle Food Business division executives are among many expected to attend the event with figures from New York’s food, beverage and cultural industries. Bartender Hong Doo-ui, a mixologist with brand ambassador Pine&Co, and chef Kim Ho-young of Moono and Michelin-starred Jua are also taking part, pairing j

HD Construction Equipment is teaming up with France’s Manitou Group to expand its reach in compact construction equipment, signing a mutual sales partnership Monday (local time) at Manitou Group’s headquarters in Ancenis, France, with HD Construction Equipment President Moon Jae-young and Manitou Group President and CEO Sylvain Blaise attending. Under the agreement, HD Construction Equipment will source compact equipment from Manitou Group and sell it globally under its Hyundai and Develon brands. Manitou Group will add HD Construction Equipment’s compact equipment to its portfolio and market the products under its Manitou and Gehl brands. Manitou Group supplies construction, agricultural and industrial equipment, including telehandlers, forklifts, skid steer loaders and aerial work platforms, through operations spanning 140 countries. For HD Construction Equipment, the agreement is intended to broaden its compact equipment lineup while increasing production scale and improving product quality and price competitiveness. The company has set a goal of generating 1.3 trillion won ($884

Samsung Electronics is turning a German kitchen industry hub into a year-round showcase for its built-in appliances as it seeks to deepen partnerships and expand its presence in Europe. The company opened a roughly 480-square-meter permanent showroom on the first floor of Kitchen Center Löhne in Löhne, Germany, during Küchenmeile, a major business-to-business event for the European kitchen industry. Küchenmeile runs through Friday, drawing more than 300 brands and 25,000 industry visitors, Samsung said. The company has participated in the event since 2013, using it to introduce built-in appliances and connect with kitchen furniture companies and other industry partners. The new showroom is designed as a venue for product demonstrations, business consultations and training, giving industry visitors year-round access to Samsung’s built-in appliances and connected kitchen technologies. Its displays include Bespoke artificial intelligence(AI)-powered refrigerators, a Bespoke AI dishwasher, an induction cooktop with an integrated extractor and a Bespoke AI oven equipped with AI Pro Cooki

Korea’s internet-only banks and regional lenders are expanding their co-lending partnerships beyond consumer credit into corporate lending, as they each look for new ways to grow their businesses, industry officials said Monday. KakaoBank and Busan Bank are preparing to launch a joint lending program for small and medium-sized businesses and sole proprietors, following a memorandum of understanding signed in April. The arrangement will combine KakaoBank’s nationwide digital platform with Busan Bank’s experience in assessing and managing business loans in its regional market. Until now, most co-lending partnerships between the two parties have focused on consumer credit. Toss Bank and Kwangju Bank introduced the industry’s first joint loan in 2024, followed by similar offerings from Kbank and Busan Bank, and from KakaoBank and Jeonbuk Bank in 2025. All three programs targeted salaried workers. Their expansion into business lending marks the next step. The incentives for both sides are clear. For internet-only banks, which have relied heavily on household lending, working with regio