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Unionized workers at Naver Z Corp., the metaverse affiliate of Korea's Naver Corp., staged a walkout on Wednesday, its second collective action this year against the company's decision to freeze wages. Some 70 percent of the union's members, or around 120 people, picketed in front of its parent company's headquarters in Seongnam, south of Seoul, the portal operator's affiliate-wide labor union said. "Across Naver and its affiliates, a rate freeze happened only once in 2009, following the global financial crisis. Even during that time, the company shifted the financial burden onto its employees by increasing the wages of its executives by 71 percent," the union argued during a live broadcast of the walkout. The latest collective action is the second of its kind from Naver Z, after it staged a partial, 4-hour strike early this month. It also marks the second industrial action from Korea's portal service industry after unionized members of Kakao Corp., a messenger app operator, staged multiple walkouts in June.

The Korean-German Chamber of Commerce and Industry (KGCCI) and the French-Korean Chamber of Commerce and Industry (FKCCI) on Tuesday jointly hosted a forum with Korean Prime Minister Han Seong-sook in Seoul to discuss foreign investment conditions and regulatory challenges in Korea facing European companies. About 200 executives from German, French and other European companies, along with government, diplomatic and economic officials, took part in the event at Banyan Tree Club & Spa Seoul, the KGCCI said Wednesday. It was organized to strengthen direct communication between the Korean government and European businesses. In her keynote speech, Han described Korea, Germany, France and other European Union members as trusted partners built on long-standing ties and shared support for free trade, openness, innovation and a rules-based international order. “The government will do its utmost to cooperate so that investments and business ventures by German and French companies can generate greater results in Korea,” Han said. Han highlighted the 19th Asia-Pacific Conference of German Busine

HS Hyosung Advanced Materials is showcasing carbon fiber products for aerospace, defense and drone applications at CAMX 2026 in the United States, as the company seeks to expand into advanced industries. The three-day Composites and Advanced Materials Expo runs from Tuesday to Thursday (local time) in Atlanta. More than 500 companies are participating, with about 7,000 visitors expected to attend. HS Hyosung Advanced Materials has participated in the annual exhibition since it was launched in 2014. The company is displaying 3K carbon fiber, 3K woven fabrics and composites for drones, as well as high-pressure vessels used in satellites. “CAMX 2026 is an important opportunity to share the latest technologies and market trends with major companies and customers in the global composites industry and explore new business opportunities,” HS Hyosung Advanced Materials CEO Lim Jin-dal said. “Based on our high-performance carbon fiber technologies and stable supply capabilities, we will provide differentiated carbon fiber solutions for advanced industries, including aerospace.” Carbon fibe

"Mala" is enchanting Korean palates across the domestic food industry. The tongue-numbingly spicy seasoning that is a traditional favorite in China's Sichuan province has become a popular ingredient for dishes beyond just Chinese cuisine, spreading to Korean and Western dishes in both the dine-in and takeout scenes. Since its introduction to Korea in the early 2010s, the popularity of mala among Korean consumers began to grow more widespread in 2018, and has been on a consistent rise since. At Google Trends, online searches for “malatang" (mala-based hot pot) this month jumped 350 percent from 2022, while "mala rosé" (mala and creamy tomato sauce) jumped 250 percent during the same period. Korean's frenzy over mala has been evident in the country's dine-in landscape as well. Tanghuo Kungfu, the largest Korean malatang franchise, posted sales of 25.5 billion won ($19 million) last year, nearly tripling from 2022. Chunli Malatang enjoyed a sales increase of 134 percent from 2023, while Lahongbang saw a 32 percent rise from the previous year. This year, McDonald’s Korea, Binggrae, Otok

Citibank Korea has tapped Kim Kyoung-ho, its head of corporate banking, as its next CEO, marking the lender’s first leadership change in six years, the bank said Wednesday. The bank’s executive recommendation committee named Kim as the sole finalist at a meeting, Tuesday. If approved by the board and shareholders, he will succeed Yoo Myung-soon, who has led Citi since 2020 as its first female CEO. Her term expires Oct. 27. The committee described Kim as “a corporate banking expert with extensive experience serving large corporations and financial institutions,” citing his track record, deep knowledge of client relationships and the Korean market, as well as his understanding of risk management and internal controls. Kim joined Citibank Korea in 2001 and has held a series of senior roles in corporate banking, including large corporate banking and financial institutions coverage, before being promoted to an executive vice president in 2021. His appointment comes as Citi continues to reshape its Korean business following its exit from consumer banking. With corporate clients now at

With the terms of 54 top executives at major financial holding companies’ affiliates set to expire at the end of the year, including the CEOs of all five major commercial banks, the government is stepping up pressure on financial groups to make their leadership succession more transparent and address any procedural shortcomings, according to industry officials Wednesday. Financial Supervisory Service (FSS) Gov. Lee Chan-jin made the call at a meeting with the chairmen of eight financial groups — KB, Shinhan, Hana, Woori, NH NongHyup, iM, BNK and JB — at his agency's headquarters in Seoul, Wednesday. CEO appointments at their subsidiaries, Lee said, should be “a transparent and fair process for identifying the right candidates based on their capabilities, without being swayed by particular factions or personal relationships.” Holding companies that still lack what the FSS considers basic safeguards, including clearly defined qualifications for the top job and a minimum period for assessing candidates at each stage, should address those gaps before launching their appointment pr

As Korea confirmed a natural gas-fired combined-cycle power plant in Encinal, Texas, will be the first project under its $200 billion strategic investment commitment to the United States, power purchase agreements (PPAs) with potential power buyers are emerging as a key factor in determining the project’s commercial viability. In a National Assembly briefing on Tuesday, Industry Minister Kim Jung-kwan said the project will be worth $22.3 billion, with planned generating capacity reaching 6.3 gigawatts. The project will initially build a 1.4-gigawatt gas turbine power plant to assess actual demand and economic viability, before gradually expanding it with 4.9 gigawatts of more efficient combined-cycle generation capacity. The project will be funded entirely by Korea, while ownership will be split equally between Seoul and Washington. Electricity generated from the plant is expected to power artificial intelligence (AI) data centers in the region. In selecting the gas plant as the first project, the government considered “commercial reasonableness,” stipulated as a key condition in

For university students looking to build skills in cloud computing and AI, Amazon Web Services has launched a program that is worth knowing about, particularly for those already studying technology-related courses. AWS Student Rewards, available through the AWS Builder Center, gives verified higher education students access to 12 months of premium AWS Skill Builder, which

Artificial intelligence is playing a growing role in how voters get information about politics and elections, raising fresh questions about how the technology could influence the way voters stay informed. From chatbots to standard internet searches, voters this election cycle are interacting with AI-generated content, even when they may not realize it. Recent research on...

As Korea confirmed a natural gas-fired combined-cycle power plant in Encinal, Texas, will be the first project under its $200 billion strategic investment commitment to the United States, power purchase agreements (PPAs) with potential power buyers are emerging as a key factor in determining the project’s commercial viability. In a National Assembly briefing on Tuesday, Industry Minister Kim Jung-kwan said the project will be worth $22.3 billion, with planned generating capacity reaching 6.3 gigawatts. The project will initially build a 1.4-gigawatt gas turbine power plant to assess actual demand and economic viability, before gradually expanding it with 4.9 gigawatts of more efficient combined-cycle generation capacity. The project will be funded entirely by Korea, while ownership will be split equally between Seoul and Washington. Electricity generated from the plant is expected to power artificial intelligence (AI) data centers in the region. In selecting the gas plant as the first project, the government considered “commercial reasonableness,” stipulated as a key condition in

Seedstars has named the 15 ventures joining the third cohort of SEED Inclusivity, its accelerator for startups building products and services for people with disabilities across Asia Pacific. Supported by Visa Foundation, the six-month programme brings together companies linked to India, Indonesia, Pakistan, the Philippines, Singapore and Vietnam. The cohort covers a wide range of […] The post Southeast Asia gains ground in Seedstars’s disability inclusion accelerator appeared first on e27.

A scam rarely begins with a dramatic breach. More often, it starts with something ordinary: a Facebook page selling discounted skincare, an Instagram post promising easy investment gains, or a message from a group that claims to have found a way to beat the market. By the time victims realise what has happened, the people […] The post Meta, Singapore Police disrupt 3.7M scam-linked assets across Facebook and Instagram appeared first on e27.