USAM Group Keeps Up Growth Pace, Welcomes Bitvore

State-run Korea Electric Power Corp. (KEPCO) said Monday it will keep electricity rates unchanged in the fourth quarter despite higher raw material prices and its financial difficulties. The adjusted fuel cost, a key component of electricity rates, will remain at the maximum level of 5 won per kilowatt-hour (kWh) for the October-December period, KEPCO said. KEPCO has kept the adjusted fuel cost at 5 won per kWh for 18 consecutive quarters since the third quarter of 2022. The adjusted fuel cost is set before each quarter within a range of plus or minus 5 won per kWh, based on energy prices, including coal and liquefied natural gas (LNG), over the previous three months. KEPCO said rates were due to rise by 7.3 won per kWh in the fourth quarter under the fuel cost adjustment formula. The decision to freeze rates is expected to further weigh on the company's finances. The company's financial difficulties began after it continued to supply electricity at prices below production costs as global energy prices surged between 2021 and 2023 following Russia's invasion of Ukraine. KEPCO and its power

For many in Korea, the end of a major holiday means back to business — literally. In the days immediately following a major festive break, job seekers across the country launch into an intense hunt for their next career move, according to data released Monday by the hiring platform JobKorea, operated by Worxphere. Looking at resume postings and job applications around the last two years of Chuseok and Seollal — Korea's autumn harvest and Lunar New Year holidays, both multiday breaks when many workers return to hometowns — JobKorea found new resume registrations consistently spike on the first Monday after each holiday. The sharpest jump came after Chuseok 2024, when resume postings on Sept. 23 that year more than doubled the average weekday rate, and ran about 3.7 times the average daily rate during the holiday itself. Similar patterns followed: resume postings rose 46 percent above the weekday average on Feb. 3, 2025, the Monday after that year's Seollal; 20 percent after Chuseok 2025; and 29 percent after Seollal 2026. Job applications followed the same pattern, peaking on the fi

LG Energy Solution has completed the establishment of its energy storage system (ESS) production network in North America, accelerating its push to capture growing demand in the rapidly expanding ESS market. Following the opening ceremony for LG Energy Solution Michigan-Lansing on Aug. 18, the plant is now ramping up operations. The Lansing plant serves as a combined manufacturing hub for lithium iron phosphate (LFP) batteries for ESS applications and nickel cobalt manganese batteries for electric vehicles (EVs), with an annual battery cell production capacity of more than 35 gigawatt-hours. The plant began producing pouch-type LFP batteries for ESS applications this year and plans to begin mass production of prismatic LFP batteries next year, marking LG Energy Solution's first prismatic battery production in North America. The company has also secured orders to supply EV batteries to Toyota. LG Energy Solution Michigan operates two production sites in the state, in Holland and Lansing. LG Energy Solution Michigan President Choi Dae-sik said that operating two plants in different locatio

Peugeot’s signature 308 Hybrid hatchback stands out with its impressive fuel efficiency and remarkably agile performance, offering a distinctive alternative in the compact hybrid segment. Powered by a 1.2-liter gasoline engine paired with a 48-volt battery system, the 308 Hybrid hatchback is capable of operating in electric mode for roughly half of typical city driving conditions. The vehicle delivers an official fuel economy rating of 15.2 kilometers per liter, boasting its efficiency-focused engineering. During a round-trip drive of approximately 400 kilometers between Seoul and Daejeon, the vehicle demonstrated exceptional real-world efficiency, with the fuel tank remaining more than half full upon completion of the journey. Some may question whether a 1.2-liter gasoline engine can provide sufficient performance. However, the moment the gas pedal is pressed, the electric motor intervenes instantly, delivering brisk and responsive acceleration that exceeds expectations. Depending on the battery’s state of charge, the 308 Hybrid can travel short distances using only the electric mot

Starbucks Korea has launched a customer-participation campaign to donate up to 1 million cups of coffee to people and communities in need. Under the “My Star Coffee” campaign, for every cup of Today’s Coffee purchased at Starbucks stores nationwide on Mondays, beginning Sept. 28, the company will donate an equivalent amount of coffee. The campaign is based on the idea of giving a cup of coffee to a personal “star” — someone who has offered quiet support and encouragement. For every cup of brewed coffee purchased by a customer, Starbucks will donate one additional cup of coffee to people and communities in need, allowing customers and the company to jointly build up the donations. The accumulated cups of “My Star Coffee” will be delivered to people serving local communities, welfare facilities, disaster and emergency sites, farms and other places in need. Starbucks said the initiative is intended to allow customers to take part in sharing activities through everyday coffee purchases, while extending support to people who contribute to their communities. The company’s mobi

Workers from Korea’s agricultural, livestock, fishery and forestry industries on Monday jointly launched an emergency committee to oppose the government’s potential entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). They argued that joining the trade pact would increase imports into Korea, threatening their market share and livelihoods. The launch of the CPTPP Task Force came as the government has yet to announce whether it will join the pact, which has been ratified by 12 countries, including Japan, Canada, Australia, Mexico and Vietnam. In June, the Ministry of Trade, Industry and Resources denied a local media report that the government had decided to join the pact, saying it would “carefully consider joining the CPTPP, taking into account stakeholders’ views as well as domestic and external conditions.” Early last month, Industry Minister Kim Jung-kwan said the government would review the possibility of joining the pact. Later that month, Deputy Prime Minister and Finance Minister Koo Yun-cheol said at a meeting of ministers of in

HiteJinro is bringing its snack trucks to fire stations across the country to provide meals, snacks and encouragement to firefighters working through fire and disaster response efforts. According to the company, it began the second half of this year’s program with a visit to Gwangjin District’s fire station in Seoul Sept. 2 and plans to visit four more stations in Daegu, North Gyeongsang Province, Busan and South Gyeongsang Province until the end of next month. The annual program brings snack trucks to fire stations providing meals, snacks and beverages to firefighters. “We prepared the second-half program to provide some encouragement to firefighters working in extreme heat and at disaster sites,” a company official said. “We will continue supporting firefighters for their efforts to protect public safety.” HiteJinro has been running the program annually since 2020, after signing a memorandum of understanding with the National Fire Agency (NFA) in 2018 to improve support for firefighters and raise public awareness of safety. This year, the company plans to visit a total of 17

KB Kookmin Bank and SAP Korea are joining forces to weave banking services directly into corporate software, betting that businesses will increasingly handle payments and cash management without leaving their enterprise systems. SAP Korea said Monday that it signed a memorandum of understanding with KB Kookmin Bank on Friday to develop software-as-a-service (SaaS) products and next-generation corporate banking services. The partnership will focus on three areas, including developing new SaaS products based on SAP Business Technology Platform by integrating third-party solutions and offering them under white-label arrangements. The companies also plan to connect enterprise resource planning systems with banking services so corporate customers can access financial services without separate procedures, an approach known as “invisible banking.” They will also pursue joint go-to-market strategies, using their infrastructure and sales networks to identify corporate customers and expand their services. SAP Korea and KB Kookmin Bank said they intend to build an embedded finance ecosystem that

Samsung Electronics and LG Electronics captured the top billing across half of eight home appliance categories in a new analysis of artificial intelligence (AI)-generated product recommendations, while specialized niche brands claimed the lead in the remaining four segments. AIBIX lab said Monday that it analyzed responses from ChatGPT, Gemini, Perplexity and Claude to measure the AI Brand Competitiveness Index (AIBIX) across 182 brands. Samsung and LG led categories including washing machines, dryers, air purifiers and cordless vacuum cleaners, while Coway, Roborock, Sony and Minix topped rental water purifiers, robot vacuum cleaners, wireless earphones and headphones, and food waste processors, respectively. LG scored 82.6 points in washing machines, 14 points ahead of Samsung, and 74.5 points in dryers, 6.4 points ahead of Samsung. Samsung narrowly led LG in air purifiers, 72.3 points to 70.8, while the two companies tied at 69.5 points in cordless vacuum cleaners. Coway scored 82.2 points in rental water purifiers, while Roborock scored 79.2 points in robot vacuum cleaners, leading Ec

Tech firm RLWRLD and supply chain giant CJ Logistics are joining forces to build smarter warehouse robots capable of handling the messy realities of modern logistics, with plans to eventually export their physical artificial intelligence (AI) capabilities to overseas markets. RLWRLD said Monday that it signed a memorandum of understanding with CJ Logistics to jointly develop logistics-focused Robotics Foundation Model (RFM) technology and pursue commercialization from Korean operations to global markets. Under the agreement, the companies will select logistics processes for initial RFM deployment and conduct proof-of-concept tests to verify core robotic movements in real working environments. They plan to expand the range of applications and improve technical performance based on those tests, with a longer-term goal of commercializing Logistics as a Service, or LaaS. CJ Logistics has been expanding the use of physical AI in logistics operations, including deploying AI humanoid robots in actual workflows, according to RLWRLD. Logistics facilities present a particularly demanding environmen

Korean tobacco and consumer goods company KT&G was named the grand prize winner at the 2026 Korea IR Awards, securing the top accolade presented by the Korea Exchange’s investor relations service, the company said Monday. The award, presented as the Korea Exchange chairman's prize, was handed out Friday at KRX Market Square in Seoul's Yeouido financial district. Yoon Young-chan, head of KT&G's strategic planning division, accepted the award from Korea Exchange Chairman Chung Eun-bo. The Korea IR Service has handed out the awards since 2001 to companies recognized for active, efficient investor relations work that supports capital-market development through shareholder-focused management. KT&G was cited for an "open IR culture" in which executives present strategy directly to investors — on global business expansion, shareholder returns and growth investment — and fold investor feedback into management decisions, along with regular investor conferences, non-deal road shows and meetings with major domestic and international institutional investors. The company raised its interim divi

Audi has officially crossed the 300,000-vehicle sales mark in Korea, cementing its position as one of the country's most popular foreign luxury automakers. The German brand said Monday that cumulative registrations reached the milestone, making Audi only the third imported carmaker to achieve the feat in the Korean market. To mark the achievement, Audi Korea is launching a customer-appreciation program, called thAnk Q, with its nationwide dealer network, offering benefits and brand experiences as a way to thank its customers, the company said. Audi Korea attributed the growth partly to customer-engagement programs it has run this year, including Audi Open House, where customers can test-drive various models and services; Audi Venture, an outdoor lifestyle program; and Audi Summer Tour, a driving and lifestyle experience event. "Reaching 300,000 cumulative registrations here is a meaningful achievement made possible by the trust and support of the customers who have chosen Audi," Audi Korea President Steve Cloete said. "We will continue to strengthen customer satisfaction and long-term tru