S.Korea to elevate science minister to deputy prime minister to lead in AI race

South Korea will elevate its new science minister to a deputy ministerial post, giving him authority to serve as the top coordinator of the governme...

Seoul-backed K-beauty brands set to make global mark

As Korean beauty products continue to captivate global consumers, five Seoul-based cosmetics and wellness companies are gearing up to penetrate deep...

GS Retail selects six startups to innovate retail biz

South Korea's GS Retail said on Friday it selected six startups—Studio Lab, Tilda, Oasis Business, YesPlzAI, Vessl AI, and Raondata—th...

GS Group, Notion to team up on AI capabilities

South Korea's GS Group signed a memorandum of understanding (MOU) with Notion, the US-based popular collaboration software company to enhance its ...

Korea’s household debt sees ‘balloon effect’ as rules tightened in Seoul

South Korea’s household lending market is witnessing a balloon effect as tighter government lending rules for Seoul and its surrounding metrop...

CU, GS25 in fierce race for top spot in Korea’s convenience store market

Using multiple measures, CU and GS25 both claim they are the No. 1 player in South Korea’s convenience store (CV) market.CU, operated by BGF R...

BMW, GS, LG open EV charging hub lounge in Seoul

BMW Group Korea said on Thursday it opened the electric vehicle (EV) Charging Hub Lounge with GS Group and LG Group in Hoehyeon-dong, Seoul.The Char...

MBK Partners’ sale of Homeplus Express hits snag over valuation gap

MBK Partners’ planned sale of Homeplus Express, the supermarket chain of South Korean hypermarket operator Homeplus, has hit a snag as potenti...

Korea’s airline firms plagued by elevated fuel costs, strong dollar

South Korea’s six listed airline companies posted worsening profitability in the second quarter, plagued by higher jet fuel costs and the US d...

GS E&C in talks to sell entire stake in GS Elevator to Chinese firm

South Korea’s GS Engineering & Construction Corp. (GS E&C) is in talks to sell its entire stake in GS Elevator Co. to a Chinese strate...

Hyundai Elevator joins forces with Kakao Mobility for integration services

South Korea's Hyundai Elevator Co. said on Thursday that it has signed a memorandum of understanding (MOU) with Kakao Mobility Corp. to commercializ...

GS Caltex to capture and utilize carbon with own technology

South Korea's GS Caltex Corp. will launch a carbon capture and utilization (CCU) project in collaboration with South Jeolla Province and Yeosu City ...

Korea’s GS Entec to invest $217 mn in wind power business

South Korea’s GS Entec Corp. is set to invest 300 billion won ($216.8 million) in facilities to manufacture wind power equipment as it shifts ...

GS Global launches BYD's T4K electric refrigerator truck

South Korea's general trading company GS Global Corp. announced on Monday that it will launch BYD Company Ltd.'s 1-ton electric truck, the T4K Refri...

Overseas projects boost Korean builders’ earnings; GS profit cut in half

Large-scale overseas construction projects boosted major Korean builders’ quarterly results while lackluster domestic construction work, coupl...

Samsung, GS win $7.2 bn gas plant project in Saudi

South Korea’s Samsung Engineering (new name: Samsung E&A) and GS Engineering & Construction Corp. (GS E&C) won a $7.2 billion co...

China exodus to elevate Korea to Asia hub: AmCham chief

South Korea has outstripped Hong Kong and Shanghai as a preferred Asia-Pacific headquarters destination for global companies, trailing only Singapor...

Korea’s GS offers dim outlook after weak earnings; stocks down

GS Holdings Corp., the holding company of South Korea’s energy-to-retail conglomerate GS Group, on Wednesday provided a dismal business outloo...

Samsung C&T, Hyundai E&C see higher profits in 2023 on overseas projects

Samsung C&T Corp.'s construction unit and Hyundai Engineering & Construction Co. stood out with increased profits last year on overseas proj...

GS E&C banned from new construction deals for 8 months

The South Korean government said on Thursday it has ordered GS Engineering & Construction Corp. (GS E&C) and four smaller builders to halt t...

S.Korean securities downgrades GS E&C’s investment opinion

Hyundai Motor Securities downgraded its investment opinion on GS Engineering & Construction Corp. (GS E&C) from "Buy" to "Market Perform" on...

Hyundai Exter, IONIQ 5 win India’s influential car awards

Hyundai Motor Co. has won major auto industry prizes in India that are expected to help the leading South Korean automaker expand its presence in th...

Hyundai Elevator, ERBUD forge partnership for Ukraine's rebuilding efforts

South Korea's Hyundai Elevator Co. signed a memorandum of understanding (MOU) with ERBUD, a leading Polish construction company, on November 28, in ...

Seoul office leasing turns lender’s market as vacancy rates at 2023 low

Office vacancy rates in South Korea’s capital city of Seoul fell to their lowest level this year last month as people returned to work follo...

Goldman Sachs lists Moloco CEO among exceptional entrepreneurs

Moloco Inc., a Silicon Valley-based ad-tech solution startup, said Wednesday that its co-founder and Chief Executive Ikkjin Ahn was named one of the...

Korea's GS Caltex faces FTC probe into intra-group trading

The Korea Fair Trade Commission (FTC) has begun an investigation process for alleged intra-group transactions between GS Caltex Corp., the country&r...

LG Chem, GS Caltex form eco-friendly materials alliance

LG Chem Ltd. and GS Caltex Corp. are accelerating their efforts in the eco-friendly bio-material business involving 3-hydroxypropionic acid (3HP). 3...

POSCO International, GS Caltex to build palm oil refinery in Indonesia

South Korea’s POSCO International Corp. and GS Caltex Corp. on Thursday signed a $210 million deal to build a bio feedstock refinery facility ...

S.Korea to receive $1 bn in unpaid bills from Uzbek gas project

South Korean firms are poised to receive $1 billion in unpaid bill that has accumulated since 2017 from Uzbekistan’s Surgil gas project as the...

Schindler-invested Hyundai Elevator faces S.Korean activism

South Korea’s Hyundai Elevator Co., the No. 2 shareholder of which is Schindler Holding AG, has faced a request from a local activist investor...