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Businessnikkei-asiaglobal-times5d ago2 sources

Beijing Auto Show Set to Be World's Largest Amid EV Boom

The Beijing Auto Show is anticipated to become the world's largest, showcasing the rapid growth of China's electric vehicle industry. The event is drawing significant attention to the country's automotive sector.

G7 releases record amount of oil stocks to 'calm the markets down'
BusinessAPReutersBBC+101bloombergNYTwsjFTle-mondewapoThe GuardianAl Jazeera+93 more1mo ago104 sources

G7 releases record amount of oil stocks to 'calm the markets down'

G7 leaders have announced the record release of 400 million barrels of oil in response to the war in the Middle East. This represents about twenty days worth of usual oil traffic through the Strait of Hormuz, currently through dangerous to go through due to the threat of Iranian strikes. This initiative aims 'to calm markets down', as FRANCE 24's Philip Turle explains.

Coupang posts record earnings despite data breach fallout
BusinessKorea Herald2mo ago

Coupang posts record earnings despite data breach fallout

Coupang logged another record year, despite profit being almost wiped out in the last quarter and reputational damage from a data breach involving some 33 million user accounts. According to its earnings release Friday, the New York-listed e-commerce company posted $34.5 billion in sales and $473 million in operating profit last year, up 14 percent and 8 percent from 2024, respectively. The firm generated $8.8 billion in sales and $8 million in operating profit in the October-to-December period,

Interim Coupang chief attends closed-door House hearing
BusinessKorea Herald2mo ago

Interim Coupang chief attends closed-door House hearing

Harold Rogers, interim CEO of e-commerce giant Coupang Corp., attended a closed-door House hearing in Washington on Monday, as the US-listed firm has been under investigation in South Korea over a massive data leak. Rogers did not respond when asked by reporters if he had anything to say to South Korean consumers, as he appeared for the hearing, which was hosted by the Administrative State, Regulatory Reform and Antitrust Subcommittee of the House Judiciary Committee. His appearance came after R

Why UK tech firm TeraView picked Korea for listing
BusinessKorea Herald2mo ago

Why UK tech firm TeraView picked Korea for listing

While high-profile Korean startups such as Toss and Yanolja chase Wall Street valuations — following Coupang’s US listing — a British chip-equipment maker is betting on Seoul instead. TeraView, a UK firm that commercialized terahertz technology for ultraprecision semiconductor inspection, chose to list on Kosdaq rather than in London or New York. The company counts Samsung Electronics, Intel and Nvidia among its customers, supplying critical components used in advanced chip manufacturing. “TeraV

US Offers $10 Million Reward for Iran-Backed Iraqi Militia Leader
PoliticsAPReutersbloomberg+86NYTwsjFTle-mondeThe GuardianNPRAl Jazeeranrk+78 more5d ago89 sources

US Offers $10 Million Reward for Iran-Backed Iraqi Militia Leader

The United States has offered a $10 million reward for information leading to the leader of an Iran-backed Iraqi armed group, identified as Kataib Sayyid al-Shuhada. This bounty targets the head of the Shiite militia, which Washington considers a terrorist organization.

Stock Market Falls to End Volatile February Amid AI Concerns
BusinessYahoo2mo ago

Stock Market Falls to End Volatile February Amid AI Concerns

The Dow, S&P 500, and Nasdaq all experienced declines, concluding a volatile month for the stock market, with investor worries about AI impacting overall performance. Separately, Coupang shares rose after investors focused on stabilization following a data incident.

FTC fines Coupang W2.19b for unfair supplier practices
BusinessReutersKorea Heraldchannel-news-asia2mo ago3 sources

FTC fines Coupang W2.19b for unfair supplier practices

Coupang has been fined 2.19 billion won ($1.53 million) and ordered to take corrective measures for violating the Large-scale Retail Business Act, the Fair Trade Commission said Thursday, citing…

Coupang confirms data breach of 200,000 accounts in Taiwan
TechnologyKorea Herald2mo ago

Coupang confirms data breach of 200,000 accounts in Taiwan

Coupang said Wednesday that about 200,000 of its Taiwanese users were included in the massive data breach of some 3.3 million accounts, an incident initially announced in November. According to Coupang, Mandiant, an American cybersecurity firm and a Google subsidiary, has determined the data breach of Taiwan-based accounts. However, it said the perpetrator retained data from only one of those accounts. “The data accessed from Taiwanese accounts was also limited to basic contact and order informa

Trumps Demand Jimmy Kimmel Firing Over Melania Joke; Kimmel Defends Remarks
PoliticsAPbloombergNYT+79wsjFTwapoThe GuardianNPRAl JazeeraCNNdr-dk+71 more15h ago82 sources

Trumps Demand Jimmy Kimmel Firing Over Melania Joke; Kimmel Defends Remarks

Donald and Melania Trump have called for Jimmy Kimmel's firing following a joke he made about the former First Lady, which they deemed offensive. Kimmel has since defended his comments, stating it was a light roast joke about their age difference.

Iran's Foreign Minister Visits Pakistan for Peace Talks
WorldReutersBBCbloomberg+69wsjle-mondeThe GuardianNPRAl JazeeraFox Newscbccnbc+61 more4d ago72 sources

Iran's Foreign Minister Visits Pakistan for Peace Talks

Iran's top diplomat travels to Pakistan for discussions on peace efforts, as ceasefire negotiations with Washington remain stalled. He is expected to present Iran's proposals for ending the conflict.

Coupang CEO Pledges Support to South Korean SMEs
BusinessKorea Herald20d ago

Coupang CEO Pledges Support to South Korean SMEs

Coupang interim CEO Harold Rogers visited small and midsize suppliers in Cheongju, North Chungcheong Province, pledging support for manufacturers facing challenges from rising energy costs and currency swings.

Technologyyonhap-englishseeking-alpha1mo ago2 sources

Coupang and Nvidia Partner to Build 'AI Factory'

Coupang has partnered with Nvidia to establish an 'AI factory', aiming to leverage artificial intelligence for enhanced operations and services and further integrate AI into its business model.

Coupang CEO joins early-morning delivery shift
BusinessKorea Herald1mo ago

Coupang CEO joins early-morning delivery shift

Coupang CEO Harold Rogers conducted an overnight visit to a logistics site and joined early-morning deliveries, according to industry sources on Friday. Rogers visited a delivery camp near Seongnam in Gyeonggi Province late Thursday night and helped deliver early-morning orders alongside logistics workers in the area. The visit became known after photos believed to show Rogers at the site were posted on an online community by a person identified as a warehouse worker. Coupang confirmed that Roge

Coupang's Q4 operating profit plunges 97% on data breach impact; founder apologizes in person
BusinessKorea Heraldyonhap-english2mo ago2 sources

Coupang's Q4 operating profit plunges 97% on data breach impact; founder apologizes in person

US-listed e-commerce giant Coupang Inc. said Friday its operating profit plunged 97 percent in the fourth quarter from a year earlier due to the impact of a large-scale data breach, while its founder issued an apology again in person. In the three months ended in December, operating profit plummeted to 11.5 billion won ($8 million) from 435.3 billion won in the same period of 2024, Coupang said in a press release. The company also swung to a net loss of 37.7 billion won from a net profit of 182.

Coupang Hires US Law Firm for Data Breach Lawsuit
BusinessKorea Herald2mo ago

Coupang Hires US Law Firm for Data Breach Lawsuit

E-commerce giant Coupang has hired a top-tier US law firm, Kirkland & Ellis, to represent it in a US lawsuit stemming from a massive data breach, bolstering its legal defense against potential liability.