S.Korea’s car exports hit record high of $15.4 bn in Q1
South Korea's car exports achieved their highest-ever record in the first quarter 2023, increasing by over 40% from a year ago, according to data fr...
S.Korea’s AI platform Wrtn to enter Japanese market
South Korean generative AI startup Wrtn Technologies unveiled Wrtn Japan, its Japanese version generative AI platform, during the "Generative AI Asi...
S.Korea's IBS develops floatable photocatalytic platform
The Institute for Basic Science (IBS) in South Korea has developed a new floatable photocatalytic platform that can produce green hydrog...
S.Korea to grant visa-free entry to transit passengers from abroad
Transit passengers from select countries from Sunday can enter South Korea without a visa, and this waiver from May 15 will apply to a wider range o...
Hotel Shilla to challenge Lotte’s duty-free shop dominance in Korea
South Korean leading luxury hotel and retail operator Hotel Shilla is challenging its crosstown rival Lotte, the dominant player in the country&rsqu...
Korea’s GEPS to begin investing in global buyout, growth funds
South Korea’s Government Employees Pension Service (GEPS) is set to inject 100 billion won ($74.7 million) to make its first investments in gl...
S.Korea’s HD KSOE, Samsung Heavy post surplus amid order rally
South Korea’s HD Korea Shipbuilding & Offshore Engineering (KSOE) and Samsung Heavy Industries (SHI) posted good performance in the firs...
Korea's Kakao Pay to buy 51% of US financial firm Siebert
Kakao Pay Corp., the mobile payment and digital wallet service unit of South Korean tech giant Kakao Corp., announced on Thursday it has signed an a...
Korea’s SK Gas to invest $1.5 bn toward carbon neutrality by 2026
ULSAN – SK Gas Ltd. South Korea’s leading liquefied petroleum gas (LPG) supplier, is set to spend $1.5 billion on liquefied natural gas ...
S.Korea to support exports of 100 SMEs in metaverse, XR industry
South Korea's Ministry of Science and ICT announced on Thursday that it will support the export of 100 small- and medium-sized enterprises (SMEs) in...
S.Korea, US to jointly invest $60 mn for student exchange programs
South Korea and the United States have agreed to jointly invest $60 million in the exchange of young professionals in the field of science and techn...
S.Korea to abolish customs declaration forms from May
Starting from May 1, South Korea's travelers who have no items to declare to customs upon entry will not have to fill out a customs declaration form...
Elon Musk reaffirms Korea among top candidates for Asia Gigafactory
WASHINGTON, D.C. – Tesla Inc. Chief Executive Elon Musk said on Wednesday that South Korea is still among its top candidates to build another ...
Kolmar Korea develops eco-friendly paper stick for cosmetic
Kolmar Korea, a supplier to global cosmetics brands such as Estee Lauder, has unveiled a new paper stick container made from mineral paper that is c...
Korea clears way for Hanwha's $1.45 bn takeover of DSME
South Korea’s Fair Trade Commission (FTC) on Thursday gave its nod for Hanwha Group’s 2-trillion-won ($1.45 billion) takeover of Daewoo ...
Dongwon Group drops bid to take over McDonald’s Korea
Dongwon Group has canceled its bid to take over McDonald's franchise in South Korea."We reviewed the takeover of McDonald's Korea but our conclusion...
Korean Air, Asiana to increase award seats ahead of merger
Korean Air Lines Co. and Asiana Airlines Inc. are set to increase award seats while revising their membership terms and conditions to help customers...
S.Korea’s IT parts makers reeling from sluggish smartphone, TV sales performance
South Korea’s major information technology parts makers like Samsung Electro-Mechanics, LG Innotek and LG Display Co. suffered huge dr...
S.Korea’s Musinsa, Disney to collaborate character products
South Korea’s online fashion platform Musinsa has partnered with the Walt Disney Company Korea, a Korean unit of the global entertainment...
S.Korea, UL Solutions sign agreement for supporting domestic startups
The South Korean Ministry of SMEs and Startups announced on Thursday that it has signed a business agreement with global certification agency UL Sol...
S.Korea’s 20-somethings tighten belts due to high interest rates: report
The decline in consumption by 20-somethings due to benchmark interest rate hikes is over eight times greater than those in their 60s.Analysts blame ...
Kia expects stellar Q2 after reporting record operating profit in Q1
Kia Corp., the smaller sibling of South Korea’s largest automaker Hyundai Motor Co., presented a rosy earnings outlook for the second quarter ...
S.Korea’s SoluM joins Vietnam's largest EV charging project
SoluM Co., a South Korean mid-sized electronic component maker, said on Wednesday that it signed an agreement with PetroVietnam Power Corporation, a...
S.Korea to offer subsidies to foreigners investing in advanced technologies
Foreign companies investing in the fields of semiconductor, display and secondary batteries, which are part of South Korea's national strategic tech...
Korea's expected inflation hits 11-month low
South Korea's expected inflation has hit a record low of 3.7% in 11 months in April 2023. While the consumer price index rose by 4.2% last month, wh...
S.Korea gov’t hosts sales event for domestic, US SMEs
South Korean small- and medium-sized enterprises (SMEs) expanded their exchange and cooperation with US firms during President Yoon Suk yeol's state...
In South Korea, innovation is subject to regulatory approval
In a country like South Korea with few natural resources to run its economy, innovations or brilliant business ideas are crucial to its survival.It ...
Louis Vuitton to turn bridge over Seoul river into catwalk
Global luxury brand Louis Vuitton will premiere a fashion show in Seoul this weekend, expecting to attract leaders from the global fashion, culture ...
Chinese buy cosmetics, Japanese pick groceries in Korea: Survey
Foreign visitors to South Korea show different purchasing preferences by nationality, a survey found. A majority of Chinese travelers' top picks are...
S.Korea’s births fall to record low in February
South Korea's births fell to a fresh low in February in 2023. The number of deaths decreased, but the population continued to decline naturally for ...
