PEs exit Korean assets at average 2.5 times purchase price

Global private equity firms, which recover their principal investment in South Korea, sell their assets for 2.5 times the purchase price on average,...

S.Korea should cut inheritance, gift taxes to OECD levels: SME lobby chief

South Korea, which imposes some of the highest inheritance and gift taxes on businesspeople among the Organization for Economic Cooperation and Deve...

Korea’s ELS market to stagnate after HSCEI debacle: KOFIA chairman

The Korea Financial Investment Association (KOFIA) will go all out to minimize any adverse effects on the South Korean financial market from an anti...

Harim, KDB in dispute over $5 bn HMM deal conditions

Talks to sell South Korea’s No. 1 ocean carrier HMM Co. to Harim Group, a leading poultry processor, have made little progress amid disputes o...

North Korea’s missiles tested on the battlefields of Ukraine

SEOUL—One of the world’s biggest illicit-arms suppliers just got a major advertisement.In recent weeks, Russian forces have fired...

Flashlight Capital urges KT&G to sue its directors for negligence

Singapore-based investment management firm Flashlight Capital Partners Pte. (FCP) has urged South Korean tobacco maker KT&G Corp. to sue its inc...

Hyundai Glovis invests in stake of EV battery recycler

South Korean shipping and logistics company Hyundai Glovis Co. announced on Monday that it has signed a share subscription agreement (SSA) related t...

Tech spies face tougher Korean penalties; 18 years in jail for overseas leaks

South Korea plans to dole out harsher punishments for industrial espionage, with a proposal to triple the penalty for an overseas leak of national t...

Mercedes-Benz unveils New E-Class in S.Korea

Mercedes-Benz Korea on Friday unveiled the 11th generation of its fully redesigned mid-sized The New E-Class sedan in South Korea.This latest iterat...

Why spend more on an IPO? No invitation to foreign banks

South Korea’s Viva Republica Inc. has recently invited a handful of domestic brokerage companies to give presentations to revive its IPO plan....

Kakao’s multimodal LLM Honeybee: Korea’s answer to Gemini, GPT-4

Kakao Corp., South Korea’s top mobile platform operator, said on Friday it has developed a multimodal large language model (MLLM) with the lat...

South Korean central bank not to increase gold reserves

South Korea’s central bank does not plan to buy more gold for its foreign exchange reserves, although the monetary authority has not purchased...

IMM invests $97 mn in Korean supplier of Boeing, Airbus

IMM Investment Corp., a major South Korean private equity firm, invested $97 million in Kencoa Aerospace Corp., a local supplier of global industry ...

MyRealTrip attracts $57 mn investment

South Korea's travel app MyRealTrip announced on Friday that it has attracted 75.6 billion won ($56.55 million) investment from domestic and foreign...

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...

Korean military fund anchors $142 mn real estate fund

South Korea’s Military Mutual Aid Association (MMAA), a retirement savings fund for military personnel, is set to become an anchor investor in...

S.Korea’s LS Group wins regulatory nod for securities biz

South Korea’s electrics components-to-energy conglomerate LS Group is set to start the securities business as it secured regulatory approval t...

Woori Financial to bolster private banking service: chairman

Woori Financial Group, South Korea’s fourth-largest financial holding company, will reinforce its wealth management service for high-net-worth...

S.Korea, Indonesia to strengthen battery materials supply chain

South Korea and Indonesia plan to strengthen the collaboration to establish an electric vehicle (EV) battery ecosystem, capitalizing on Indonesia'...

LG Chem sees up to 25% battery sector growth in 2024: report

South Korea’s LG Chem Ltd., the parent of the world’s second-largest electric vehicle battery maker LG Energy Solution Ltd., expects up ...

S.Korea’s Hyosung to expand tire cord business to India

DAVOS, Switzerland -- Hyosung Group, a South Korean textile-to-chemicals conglomerate, plans to expand its tire cord business to India, the world's ...

POSCO Future M to sharply raise synthetic graphite output

South Korea’s POSCO Future M Co. will sharply raise its synthetic graphite production by the end of 2025 as China’s export restrictions ...

S.Korea to scrap capital gains taxes on financial products

South Korea will scrap a plan to impose taxes on capital gains from financial products for all shareholders and further lower securities transaction...

Korean learning platform Elice raises $14.9mn from Vertex

Elice Inc., a South Korean startup offering an all-in-one digital learning platform for teachers and corporations, will transform into an artificial...

Korean steelmakers mull anti-dumping suit vs Chinese, Japanese firms

Under growing pressure from increased imports of cheap Chinese and Japanese steel products, South Korean steelmakers are considering filing an anti-...

NPS picks tech, electronics as its favorite local stocks in 2023

South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, picked information tech, electric and electronic s...

Korea's LX International buys Indonesian nickel miner for $100 mn

South Korean trading firm LX International Corp. said on Tuesday that it has acquired a 60% stake in Indonesian miner PT Adhi Kartiko Pratama (AKP)&...

Yes to cannabis but no to bitcoin?

Aftershocks continue in the South Korean financial market following the country’s financial regulator’s ban on the trading of spot bitco...

Korea’s Kia to set up sales unit in Thailand; EV plant an option

South Korea’s second-largest automaker Kia Corp. plans to establish a sales subsidiary in Thailand as part of its electric vehicle push in the...

Semiconductors power Korea’s tech exports to 15-month high

South Korea’s tech products exports rose for a second straight month to a 15-month high in December 2023 as overseas sales of semiconductors e...