Zenwork Takes on First Funding With $163 Million Led by Spectrum Equity

Coway is promoting three mattresses under its BEREX brand to meet diverse sleeping preferences, offering options for people with different sleeping postures and couples who prefer different levels of firmness. The company said its lineup is designed to accommodate differences in body shape and sleeping habits, as Koreans tend to get relatively little sleep, making it increasingly important for consumers to improve their sleep quality. According to a 2024 survey by the Korean Society of Sleep Research, Koreans sleep an average of six hours and 58 minutes a day, placing the country among the lowest-ranked OECD members in terms of sleep duration. With limited hours of sleep, more consumers are seeking better-quality rest, making it increasingly important for mattress makers to address their diverse needs. For people who sleep on their backs or prefer firmer support, Coway recommends the BEREX Modi Mattress, which uses individually pocketed signature springs made with high-strength steel wire from POSCO for durability and stability, along with Contour 7-Zone Foam designed to distribute body

Budding artificial intelligence (AI) researchers presented the results of their work during an internship program jointly organized by Microsoft Research and the Institute of Information & Communications Technology Planning & Evaluation (IITP), showcasing new findings in areas such as visual agentic AI, brain-inspired AI, AI-native systems and spatial intelligence. Microsoft, IITP and the Ministry of Science and ICT jointly held the 2026 Korea Day presentation event at Microsoft Korea Office in central Seoul, Tuesday, with over 100 students, mentors and officials from Microsoft Research Asia (MSRA) and IITP attending. IITP is the policy-planning and management arm of the ministry. “By embracing interdisciplinary and cross-boundary research rooted in Asia Pacific, we aim to define the new paradigm of computing and AI for the better,” Microsoft Research Accelerator Director Lee Mi-ran said. “Our collaboration with Korea is not a series of one-off events. It has been built steadily over more than 20 years … Government provides the framework, universities provide the talent and idea

Mercedes-Benz Korea is betting that a more affordable all-electric CLA sedan will revive its flagging electric vehicle (EV) business in the country, as Tesla and Chinese rivals gain ground in one of Asia’s most competitive imported-car markets. The German luxury automaker introduced the all-new electric CLA and GLC on Monday, with the entry-level CLA coupe-type sedan priced from 52.9 million won ($40,000). The pricing marks a major shift from Mercedes-Benz’s traditional premium positioning, placing its new electric sedan closer to mass-market alternatives, including Tesla’s Model Y, which starts at 49.99 million won in Korea. The Model Y was the country’s best-selling vehicle last month, largely due to its competitive pricing. The launch of the price-competitive CLA comes as Mercedes-Benz struggles to rev up sluggish EV sales. The company’s electric car lineup, previously a major source of growth, has lost momentum following the August 2024 fire involving a Mercedes-Benz EQE sedan in an underground parking garage in Incheon. Mercedes-Benz’s EV sales in Korea reached a peak of

LIG Defense & Aerospace (LIG D&A) and Doosan Enerbility have agreed to jointly develop engines for guided missiles and aircraft, combining the defense firm’s missile expertise with the power equipment maker’s turbine technology, LIG D&A said Tuesday. The two companies signed a memorandum of understanding on Monday at Doosan Tower in the Bundang area of Seongnam, Gyeonggi Province. The ceremony was attended by the head of LIG D&A’s missile systems business division, the head of Doosan Enerbility’s power service business group and other senior officials. LIG D&A, formerly known as LIG Nex1, is Korea’s leading maker of guided weapons, which are missiles and other munitions that can be steered toward a target after launch. The company changed its name in March to reflect its expansion into aerospace. Doosan Enerbility, best known for building power plant equipment, is developing next-generation aircraft propulsion technology based on expertise built up in gas turbines for electricity generation. Under the agreement, the companies will pair LIG D&A’s capabilities in developing and

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) said Tuesday it has secured a 1.91 trillion-won ($1.44 billion) order from South Korean shipping company HMM to build eight liquefied natural gas (LNG) dual-fuel container ships. HD KSOE, the shipbuilding subholding company of HD Hyundai, said the vessels will be equipped with engines capable of running on both LNG and conventional marine fuels. The 13,000-twenty-foot-equivalent-unit (TEU)-class ships will measure 337 meters in length, 51 meters in width and 27.9 meters in height. Two vessels will be built at affiliate HD Hyundai Heavy Industries' shipyard in the southeastern city of Ulsan. The remaining six will be constructed at HD Hyundai Samho's shipyard in the southwestern city of Yeongam. All eight vessels are scheduled to be delivered to HMM in stages by 2029. With the latest contract, HD KSOE has secured orders worth $20.19 billion for 182 vessels so far this year, achieving 86.6 percent of its annual order target.

Innocean, the advertising affiliate of Hyundai Motor Group, said Tuesday its overseas units have won seven honors at advertising awards in the United States and the Middle East. Innocean USA received two silver awards at the 2026 Jay Chiat Awards, hosted by the American Association of Advertising Agencies. The 29-year-old competition judges anonymized case studies on how strategic thinking delivered real business results. Hyundai Motor’s “IONIQ 9 Escape Garage” won silver in the influencer and creator strategy category, while Genesis’ “A New Beginning in Luxury” took silver in automotive strategy. Both were produced with Canvas Worldwide, Innocean’s U.S. media subsidiary. In the IONIQ 9 campaign, three creator families used the electric SUV’s interior space, seating and EV features to complete escape-room missions, drawing 8.6 million views. Innocean USA’s social media team was also named in the agency social media category of marketing publication Adweek’s Team Visionary Awards. Its work included “Hyundai Jingle Road Trip,” which turned a jingle TikTok users made

Hankook Tire is extending its presence in global football as it returns for a third consecutive year as an official sponsor of the Ballon d’Or, with this year’s ceremony marking the award’s 70th anniversary and its first edition in London. Hankook Tire & Technology, part of Hankook & Company Group, said it will sponsor the 2026 Ballon d’Or ceremony, scheduled for Oct. 26 at the London Palladium Theatre. Established in 1956 by French football magazine France Football, the Ballon d’Or is widely regarded as one of the highest individual honors in football, recognizing players for their performances during the previous season. Since 2024, France Football, part of the L’Équipe Group, has organized the awards in partnership with UEFA. This year’s ceremony moves to London for the first time, commemorating seven decades since the award’s founding and paying tribute to Stanley Matthews, the England international who won the inaugural Ballon d’Or in 1956. The ceremony will also reveal the successors to last year’s winners, Aitana Bonmatí and Ousmane Dembélé. Hankook Tire said

CJ ONE is bringing its rewards program onto public transit, joining forces with mobility fintech company E-Dreams to connect travel, shopping and dining through a single membership platform for Korean and international customers. CJ OliveNetworks, which operates the lifestyle membership service, said Tuesday it had signed a memorandum of understanding with E-Dreams to expand membership benefits into mobility and payment services. The agreement was signed Monday at E-Dreams’ headquarters in central Seoul, with Yoo In-sang, CEO of CJ OliveNetworks, and Lee Jung-hwan, CEO of E-Dreams, in attendance. The first initiative will be a transportation card designed for international visitors to Korea, scheduled for release by the end of 2026. The card will combine E-Dreams’ public transportation payment functions with CJ ONE membership benefits, allowing foreign tourists to use buses and subways while earning and redeeming points at participating businesses. Distribution is planned through E-Dreams’ existing retail network, including airports and convenience stores. The partnership follows CJ

Samsung Bioepis has secured a decade-long exclusive supply deal for a rare disease treatment in Brazil, strengthening its position in Latin America’s largest pharmaceutical market while opening a new chapter in its partnership with the Brazilian government. The Korean biopharmaceutical company said Tuesday it had signed a local partnership agreement to supply SB12, a biosimilar of Soliris with the active ingredient eculizumab, to Brazil’s Ministry of Health. SB12 is used to treat rare conditions including paroxysmal nocturnal hemoglobinuria, a blood disorder, and atypical hemolytic uremic syndrome, which can damage blood cells, kidneys and other organs. Brazil’s health regulator, the National Health Surveillance Agency, known as ANVISA, approved the drug in December 2024. The Brazilian eculizumab market was worth about $170 million (250 billion won) last year, according to the company, which expects the 10-year exclusive supply agreement to provide a stable source of revenue. Under the government-led Productive Development Partnership program, Samsung Bioepis will work with Brazilia

GS Global is expanding into carbon credit trading through an equity investment in Hooxi Partners, a Korean carbon credit specialist, seeking to monetize emissions reductions from its existing eco-friendly businesses. GS Global said Tuesday that the investment would establish a strategic partnership, combining Hooxi Partners’ carbon reduction expertise with GS Global’s global network and trading capabilities. The investment comes as Korea's fourth emissions trading scheme, covering 2026-2030, takes effect. Tighter emissions caps, expanded paid allocations and stricter global carbon regulations are raising the cost of securing carbon credits and increasing exposure to price volatility. GS Global aims to turn carbon credits into a new growth engine. Founded in 2021, Hooxi Partners offers services ranging from carbon credit methodology development and emissions reduction project management to securing Korean Offset Credits (KOCs) and forward trading. The company focuses on transportation-related emissions reduction projects, particularly the transition to electric vehicles. It also oper

North Chungcheong Province said Tuesday it will hold its annual cosmetics and beauty expo in Cheongju to help Korean companies expand exports of cosmetics and other beauty products. The Cosmetics & Beauty Expo Osong Korea 2026 will run from Thursday to Saturday in Osong, a district of Cheongju, 83 kilometers south of Seoul. The event aims to connect local companies with international buyers, according to the provincial government. More than 250 companies are expected to participate in the business-to-business (B2B)-focused event, which is being held under the theme "K-Beauty Osong seeks growth along with global partners." "This year's expo, the largest edition to date, will provide local companies with opportunities to expand into overseas markets and allow visitors to experience K-beauty products," Jang Woo-sung, director general of the provincial government's bureau of biologics, food and drugs, said. The expo has been held annually in Cheongju since 2013, except in 2014. The provincial government has partnered with the Korea Trade-Investment Promotion Agency (KOTRA) to invite 200 domes

Hyundai Motor and its sister company Kia said Tuesday they will conduct test operations of Level 4 autonomous trucks as part of an ongoing effort to advance self-driving technology and pave the way for commercialization. The automakers signed a memorandum of understanding (MOU) for the project with Hyundai Motor Group affiliates Hyundai Mobis Co. and Hyundai Glovis Co., as well as autonomous driving technology startups Mars Auto and RideFlux, at the group's Namyang R&D Center in Hwaseong, southwest of Seoul. Level 4 autonomous driving allows vehicles to operate without human intervention, including in emergency situations, under specified conditions and within designated operational areas. According to the MOU, Hyundai Motor and Kia will develop and supply two Xcient trucks, including a hydrogen fuel cell model, early next year. The test program will cover approximately 500 kilometers across two routes: a 100-kilometer section combining highways and urban roads, and a 400-kilometer long-distance highway route.