Saudi Crown Prince bin Salman courts Korean AI startups as Riyadh, Abu Dhabi vie to build tech hubs

Back in the 1960s and 1970s, the Middle East was a land of opportunity for many South Korean construction workers, who labored there under the scorc...

Lotte replaces 21 CEOs, slashes executive jobs by 22% in drastic reshuffle

South Korea’s retail-to-chemical conglomerate Lotte Group on Thursday replaced 21 chief executives across its affiliates and slashed executive...

Lotte leader Shin Dong-bin stresses pivot to AI-centered innovation

Shin Dong-bin, chairman of South Korea’s retail, food and chemicals conglomerate Lotte, on Friday urged affiliate executives to ramp up effort...

Lotte Group's heir apparent joins Japan holding firm's board

Shin Yoo-yeol, the heir apparent to Lotte Group, has been elected to the board of directors of its Japanese holding company, which serves as a link ...

Lotte Group to give more authority to outside directors

Food-to-retail conglomerate Lotte will expand the authority of outside directors by separating the roles of chief executives and board chairs at its...

Lotte Group Chairman says to sell ailing units for new biz: report

Lotte Group plans to sell ailing units as the South Korean retail-to-chemical conglomerate is shifting its focus to new growth sectors such as bio, ...

Lotte’s intra-group merger, business integration fare well

Lotte Mart and Lotte Super are leading Lotte Group’s efforts to streamline the overlapping businesses of its units. Their second-quarter resul...

Hyundai Mobis mass produces glove compartment for EVs

South Korea's Hyundai Mobis has developed an innovative glove compartment optimized for electric vehicles (EV) for use in the large sport utility EV...

S-Oil to OK $6 billion Shaheen project as Saudi prince heads to Seoul

S-Oil Corp., the South Korean unit of Saudi Arabian Oil Co., will approve the much-touted 8 trillion won ($6 billion) Shaheen project to expand its ...