KT’s 2023 sales rise to all-time yearly high on wireless, internet business
South Korea’s leading telecommunications company KT Corp. on Thursday posted record annual sales revenue for 2023, buoyed by steady growth in ...
Netmarble bets on new games for turnaround in 2024
Netmarble Corp. expects a turnaround this year driven by new games after successfully snapping its seven consecutive quarter losing streak in the fi...
S.Korean investors name their 42 favorite alternative asset managers
Apollo Asset Management, Warburg Pincus and Lexington Partners are South Korean institutional investors’ most preferred private equity firm...
Doosan Enerbility faces record $15 mn in fines for improper bookkeeping
South Korea's major power plant builder Doosan Enerbility Co. faces a record-breaking fine to the tune of about 20 billion won ($15 million) over it...
EcoPro’s 2023 profit halves on softer EV demand, materials prices
South Korea’s major battery materials company EcoPro Co. saw last year’s operating profit halved from the previous year after a steeper-...
Korea’s telemedicine startups seek growth abroad
South Korea’s telemedicine startups are seeking growth opportunities abroad in the face of regulations such as drug delivery restrictions that...
Warren Buffett’s IMC to invest $98 million in Daegu for chip materials plant
DAEGU – The IMC Group, owned by Warrant Buffett’s Berkshire Hathaway Inc., will invest 130 billion won ($98 million) to build a semicond...
Lotte to sell 7-Eleven’s ATM unit in Korea for around $38 mn
Lotte Group is set to sell the automated teller machine (ATM) business of Korea Seven Co., the operator of convenience store chain 7-Eleven in South...
Cosmax targets Southeast Asia's halal perfume market
Cosmax Inc., South Korea's largest cosmetics manufacturer in original design manufacturing (ODM), announced on Wednesday that it opened its new perf...
LIG Nex1 inks $3.2 bn missile defense deal with Saudi Arabia
South Korea's major defense system developer LIG Nex1 Co. has clinched a $3.2 billion deal to export its latest missile interceptor to Saudi Arabia,...
Samsung Heavy wins $3.45 bn order for 15 LNG carriers
South Korea’s shipbuilder Samsung Heavy Industries Co. announced on Wednesday that it has won a $3.45 billion order for 15 units of liquefie...
South Korea’s Exports Get off to Strong Start in 2024
South Korea’s exports got off to a strong start this year, with shipment growth accelerating in January amid solid demand for semiconductors...
Hyundai Motor to sponsor Whitney Museum for 10 years
Hyundai Motor Co. and The Whitney Museum of American Art announced a new 10-year partnership that enables artists to test their aspirations and in...
Kia rides defense sector boom with military vehicles
Kia Corp., South Korea’s second-largest automaker, has unveiled its next-generation military vehicle technologies at the largest defense exhib...
Hanwha Q Cells to unveil Q.TRON G2 solar module
Hanwha Q Cells Co., a solar power unit of South Korean conglomerate Hanwha Group, announced on Monday that it will unveil its new solar module ser...
Samsung’s Lee to spur M&As, new growth with ‘lost decade’ behind him
Cleared of wrongdoing charges that shackled his leadership for years, Samsung Group leader Jay Y. Lee now will actively seek mergers and acquisition...
Samsung’s Lee cleared of charges over Samsung C&T merger
The Seoul Central District Court on Monday acquitted Samsung Electronics Co. Chairman Jay Y. Lee of charges of being involved in illegal activities ...
Seoul aims to turn Yongsan IBD into world’s largest 'vertical' city
The Seoul Metropolitan Government plans to turn an abandoned train maintenance depot in the central district of Yongsan into the world’s large...
SK Telecom gears up for AI leap in 2024
SK Telecom Co., South Korea’s largest mobile carrier, will expedite its transition into an artificial intelligence company this year after its...
Aprogen gets OK Phase 3 trials in India for Herceptin biosimilar
South Korea’s biopharmaceutical company Aprogen Inc. announced on Monday that its Phase 3 clinical trial for a biosimilar of Herceptin (trastu...
Cosmax opens integrated R&D center for bio-material
Cosmax Group, South Korea's largest cosmetics manufacturer specializing in original design manufacturing (ODM), announced on Monday that it has la...
Samsung gets global carbon reduction certification for TV
Samsung Electronics Co. announced on Monday that its eight product series in 2024 Neo QLED 4K and 8K, OLED, and The Frame lineups have received th...
Korea’s luxury resort market blossoms despite slow economy
South Korea’s luxury resort market seems to operate out of sync with the economy. High-end operators are opening swanky holiday resorts in Kor...
Korean firms’ monthly net debt sales hit record high in January
South Korean investors armed with ample liquidity have rushed to buy corporate debts to enjoy high yields before rates head south later this year, l...
Naver logs record earnings on e-commerce, content; stocks up
South Korea’s online giant Naver Corp. reported record earnings on strong performances of its e-commerce and content businesses, sending its s...
S-Oil’s 2023 operating profit more than halves on weak refining margins
S-Oil Corp., the South Korean unit of Saudi Arabian Oil Co., on Friday posted a 58.3% decline in its operating profit last year, weighed by lower re...
Hyundai, Kia EV sales on a roll in US due to better style, pricing
Hyundai Motor Co. and its sibling Kia Corp. sold 6,627 units of electric vehicles together in the US last month, 51% more than a year ago as their d...
Naver Cloud launches real-time streaming feature
South Korea's Naver Cloud, the cloud computing arm of Naver Corp., announced on Friday that it has launched a "real-time streaming" feature for "CLO...
Korea’s inflation at 6-month low in further relief to BOK
South Korea’s headline inflation dropped for a third straight month to a six-month low on declining oil prices, adding relief to the central b...
S.Korea, Indonesia agree to free up flight routes
South Korea and Indonesia have agreed to allow unrestricted flight operations between their regional airports. This announcement, made by Seoul's Mi...
