Woori Financial wins MSCI ESG global leader rating for 2nd year

Woori Financial Group said on Thursday it has earned an AA rating for the second consecutive year in the global ESG rating announced by Morgan Stanl...

M2N to sell 52% stake in Chinese automotive parts company DKCA

M2N( DK D&I Co. ), the parent company of pharmaceutical firm Sillajen Inc., announced on Tuesday that it has signed an agreement to sell its maj...

Korea Fair Trade Commission opens unit to review global M&As

The Korea Fair Trade Commission (KFTC) on Tuesday said it will open a division specifically for reviewing global M&As given the recent growth of...

NPS fund management taps former GEPS CIO Seo as new chief

National Pension Service (NPS) of South Korea, the world's third-largest pension fund, has tapped Seo Won-joo as the new chief investment officer, a...

85% of S.Korea's Gen MZ have contactless savings accounts

A study finds 90% of South Korea's Generation MZ, a demographic comprising millennials and Generation Z members born between 1981 and 2010, use cont...

Rep. Yang Hyang-ja criticizes 8% tax cut for chipmakers as step backward

South Korean politician Yang Hyang-ja, a Samsung Electronics Co. executive-turned-lawmaker, criticized her fellow lawmakers' decision to raise the p...

Hyundai Heavy Industries Group develops dual LNG-hydrogen engine

Hyundai Heavy Industries (HHI) Group has developed South Korea's first hybrid engine that uses liquefied natural gas (LNG) and hydrogen.The group's ...

Samsung Heavy receives approval from US on gas recovery system

Samsung Heavy Industries, a major shipbuilder in South Korea, said on Tuesday that its boil-off gas recovery system (BReS) for LNG-powered vessels h...

LG Chem, GS EPS to build $248 million biomass power plant

LG Chem Ltd., South Korea’s top chemicals maker, said on Tuesday it has signed a contract with GS EPS Co. to build a 320 billion won ($248 mil...

Korea’s Poongsan earnings to improve on copper rebound

Poongsan Corp., South Korea’s top copper processing company, is expected to benefit as China’s exit from the zero-COVID policy bolstered...

KEXIM to provide $1.2 bn project financing for Indonesian refinery project

The Export-Import Bank of Korea (Eximbank) announced on Friday that it has signed a $1.2 billion project financing agreement with the Indonesian sta...

Korean Air resumes regular staff recruitment for 1st time in 3 years

Korean Air Lines Co. for the first time in three years has resumed regular staff recruitment that was suspended by the COVID-19 pandemic.Airline ind...

Kiturami's carbon mats, hot ticket in Korea this winter

Convenience and less heating costs have been changing the shape of South Korea's heated mat market which has been traditionally led by electric mats...

Hyundai CE to support low-interest installment financing for customers

South Korea's Hyundai Construction Equipment Co. Ltd. has joined hands with Hyundai Commercial, a company specializing in industrial and corporate f...

Korea Exchange, Uzbek Ministry of Finance sign agreement for cooperation

The Korea Exchange (KRX) has agreed to cooperate with the Ministry of Finance of Uzbekistan on the maintenance of the stock market IT system. T...

POSCO, Malaysia’s Petros to join forces on carbon capture business

POSCO Holdings Inc., the holding company of South Korea’s top steelmaker POSCO, said on Monday it has joined forces with Malaysia’s ener...

S.Korea develops carbon composite materials as its 2nd steel industry

The South Korean government will invest 185 billion won ($139.6 million) by 2030 in the development of technology for carbon composite materials, wh...

SK Discovery launches bio strategy, investment division

Korea's chemical company SK Discovery Co. on Tuesday said it launched a bio strategy and investment division headed by Kim Jung-hoon, director of SK...

BNK Capital launches operations at Kyrgyzstan subsidiary

Korea's loan and financing company BNK Capital on Thursday said its subsidiary in Kyrgyzstan, MCC BNK Finance LLC, has launched operations as its si...

Industrial Bank of Korea provides Silicon Valley-style financing for startups

Industrial Bank of Korea (IBK) on Friday launched the IBK Venture Loan, which provides bridge loans to promising startups struggling to borrow funds...

Average household debt in South Korea exceeds $69,000 so far this year

The average household debt in South Korea has exceeded 90 million won ($69,284). While the figure appears to be high by Korean standards, average ho...

SK Innovation to adopt internal carbon pricing system

SK Innovation Co. on Sunday announced its adoption this year of an "internal carbon pricing system" recently approved by its board of directors. Th...

SK Chemicals' copolyester lines certified on carbon reduction

South Korea’s SK Chemicals Co. said on Wednesday it has earned sustainability certifications for its nine copolyester product lines from UL So...

Finance ministry stresses need to reduce maximum corporate tax rate

A total of 103 companies, a mere 0.01% of the total number of corporations in South Korea, are paying more than 40% of the country’s total cor...

GS Caltex to enter carbon capture, utilization and storage sector

South Korea's oil refining and energy giant GS Caltex has teamed up with leading domestic companies in their respective fields to enter the carbon c...

Hyundai partners with Indonesia firm for stable aluminum supply

Hyundai Motor Co., South Korea’s top automaker, joined hands with an Indonesian miner to secure a stable aluminum supply as demand for the raw...

LG Energy Solution diversifies supply chains to respond to US IRA

LG Energy Solution Ltd. has made a preemptive response to the Inflation Reduction Act of the US by securing the supply of lithium carbonate, a key m...

Korean brokerages' restructuring targets investment banking units

South Korea’s small- and mid-sized brokerage houses have begun their workforce reductions ahead of the end of the year. The brokerages are set...

Doosan Enerbility signs $1.2 billion deal to build nuclear plant in Egypt

South Korea's major power plant builder Doosan Enerbility Co. said on Thursday it has clinched a 1.6 trillion won ($1.2 billion) deal to become a co...

Coupang launches Rocket Fashion Growth division to beef up fashion retail

Coupang, Inc. recently established the Rocket Growth Fashion division, according to industry insiders on Monday. As the name suggests, the team...