South Koreans, frugal at home, open wallets abroad

Consumer spending in South Korea has been on the decline this year amid few signs of a near-term recovery. But when it comes to overseas spending, i...

KDI cuts Korea growth forecasts, ups inflation predictions

A South Korean government think tank has cut its growth forecast in Asia’s fourth-largest economy for this year and next but raised inflation ...

Hyundai E&C to form private-public partnership for US solar power

South Korea's Hyundai Engineering & Construction Co. (Hyundai E&C), Korea Midland Power Co., and the Korea Overseas Infrastructure & Urb...

VCs give thumbs up to EV, parts/materials, travel tech

The venture capital funding crunch has continued through this year in South Korea but VCs have raised their stakes in select companies in the electr...

Hyundai's Supernal plans to build flying taxi plant in US

Hyundai Motor Group plans to build a flying electric taxi plant in the US as the South Korean automotive group aims to bring flying cars to the mark...

SK Telecom’s Q3 profit up on brisk data center, cloud sales

SK Telecom Co.'s third-quarter operating profit increased 7% on-year, becoming the only South Korean mobile carrier posting an on-year gain in profi...

Lotteria to introduce kitchen robot Alpha Grill

South Korea's Lotte GRS, the operator of fast food franchise Lotteria, plans to introduce a kitchen automation robot Alpha Grill in stores. Alp...

Hyundai Mobis raises $940 mn via loan for EV parts plants in US

Hyundai Mobis Co., an auto part-making unit of Hyundai Motor Group, has raised $940 million via an overseas loan to build facilities for its electri...

Imported cars set to snap 3-year growth streak in S.Korea

Imported passenger cars are expected to see their first retreat in four years in South Korea on the growing popularity of domestic luxury models suc...

S.Korea's Emart24 to sell prefabricated house

South Korea’s convenience store chain Emart24 partnered with YMK Construction to launch an innovative range of prefabricated houses, a first i...

Used electric vehicle prices drop in Korea with declining EV appeal

Prices of secondhand electric vehicles are falling in South Korea as drivers are increasingly less enchanted with eco-friendly vehicles due to weak ...

S.Korea tops global shipbuilding orders in October, surpassing China

South Korean shipbuilders won the most shipbuilding orders worldwide in October 2023. The country overtook China and claimed the lead in the global ...

Costco Korea on verge of falling into low-growth trap

South Korea, one of the most lucrative markets for Costco Wholesale Corp., appears to be losing its appeal in the face of China’s rapid ascent...

Chemtronics readies to produce key solvent for photoresists

SEONGNAM, South Korea -- Chemtronics Co. Ltd., a South Korean chemical materials maker, appears to have removed a key hurdle to expanding the domest...

The Nature Holdings goes after green fashion with Brompton

Brompton Bicycle will pursue a greener world with sustainable clothing that is stylish but durable alongside its Korean partner The Nature Holdings ...

S.Korea seeks to sell 29% in game giant Nexon's holding firm

The South Korean government is planning to sell off a 29.3% stake in Tokyo-listed game giant Nexon Co.’s holding firm NXC Corp. via a public b...

Korea bans short selling; battery stocks lead market rally

South Korea has temporarily suspended short selling partly to prevent illegal, naked short selling, a decision buoying stocks heavily targeted by sh...

Heerim wins design contract for Hyundai Motor's Saudi plant

South Korea's Heerim Architects & Planners said on Monday it secured the architectural design contract for Hyundai Motor Co.'s new automobile as...

S.Korea’s forex reserves dwindle to lowest point in more than 3 years

South Korea’s foreign exchange reserves dropped in October for the third straight month to their lowest point since June 2020, as local author...

South Korea’s Dailybeer to enter into Singaporean market

Dailybeer, South Korean craft beer and fried chicken chain, announced on Friday it signed a contract with Singapore-based Katrina Group for joint in...

Naver posts record Q3 sales, profit on e-commerce

South Korea’s web portal giant Naver Corp. on Friday posted record sales and operating profit in the third quarter, driven by robust sales gro...

Louis Vuitton to launch fourth pop-up restaurant in Seoul

The French luxury brand Louis Vuitton will open a pop-up restaurant in South Korea. This is the fourth one since May this year.According to company ...

Kolon set to host Aramco Team Series golf event in Korea

South Korea’s Kolon Group said on Thursday it has signed a non-binding agreement with Golf Saudi, a unit of Saudi Golf Federation, to jointly ...

Hyundai Motor, Kia's US electric vehicle sales at record-high in October

South Korea's Hyundai Motor Group set a historic sales record in the US electric vehicle market, posting its best-ever performance in October. The a...

KG Mobility, BYD to team up for battery pack, hybrid car

South Korea's KG Mobility Corp. has partnered with China's largest electric vehicle company BYD to build a battery pack factory in South Korea. They...

Hillhouse to up investment in S.Korea with new hires

Hillhouse Investment Management Ltd., one of the largest private equity firms in Asia, is set to create an investment team dedicated to the South Ko...

S.Korea’s HMM expands bulk carrier fleet for stable profit

HMM Co., South Korea’s top shipping company, is expanding its fleet, especially bulk carriers, for stable profits amid the sluggishness of the...

Asiana Airlines to sell cargo business for merger with Korean Air

Asiana Airlines Inc. on Thursday decided to carve out its lucrative cargo business, clearing a major hurdle to its merger with bigger rival Korean A...

Hyundai Motor Group units’ profits double as Chung enters 4th year

South Korea’s Hyundai Motor Group saw the combined operating profit of its 11 affiliates more than double in the third quarter as Chairman Chu...

S.Korea mulls plan B as Indonesia falls behind on KF-21 project payments

Indonesia, a partner of South Korea’s KF-21 fighter jet development project, has failed again to notify the Korean government of its plan to p...