Korea's military fund, LIG Nex1, IBK to form $60 mn defense fund
South Korea’s Military Mutual Aid Association (MMAA), a retirement savings fund for military personnel, will create an 80 billion won ($60 mil...
Venture downturn keeps Korean unicorns from acquisitions
South Korean unicorns, or private companies worth $1 billion or more, are increasingly refraining from taking over smaller startups for business exp...
South Korea's car exports to US hit record high in 2023
South Korea’s car exports to the US surged 44.6% on-year to a record high of $32.2 billion in 2023, making up the lion’s share of South ...
Sindoh to tap ex-STIC Investments exec Seo as CEO, spur M&As
Sindoh Co., a leading manufacturer of multi-functional printers in South Korea, is set to tap an investment banking expert as its chief executive. W...
South Korea’s corporate tax-to-GDP ratio hits record high
South Korean companies paid more corporate taxes than their rivals in developed countries in 2022, losing competitiveness, with the nation’s c...
South Korea establishes diplomatic ties with Cuba
South Korea has established diplomatic relations with Cuba, a close ally of North Korea, Seoul said on Wednesday. Cuba had long been the only count...
Korea gives the nod for foreign workers at plant construction sites
South Korea is expected to allow foreigners to work at plant construction sites nearly two decades after non-native Koreans were banned from those p...
Kyobo Life CEO Shin Chang-jae: Eccentric, humanitarian entrepreneur
When Shin Chang-jae took the helm of Kyobo Life Insurance Co. in 2000 the South Korean insurance firm was reeling from the aftermath of the 1998 Asi...
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...
BMW joins other foreign brands’ moves to use domestic car GPS in Korea
German luxury carmaker BMW Group is installing domestic GPS navigation systems in models sold in South Korea, joining other imported car brands&rsqu...
Hyundai Motor to exceed 100 mn cumulative sales in 2024
Hyundai Motor Co. 's cumulative vehicle sales are expected to surpass 100 million units this year since it started 56 years after the launch of car ...
Qoo10 buys US e-commerce platform Wish for $173 mn
Southeast Asia-focused e-commerce platform Qoo10 Pte. has agreed to acquire Wish, a US online marketplace, for $173 million from Nasdaq-listed Conte...
Tesla to showcase Cybertruck in South Korea next week
Tesla Inc., the world’s No. 2 electric vehicle maker, is set to showcase its electric full-size pickup Cybertruck in South Korea, home to its ...
China’s BYD to enter South Korea’s passenger electric car market
China’s BYD Co., the world’s largest electric vehicle maker, is set to enter South Korea’s passenger EV market, setting off alarm ...
Starbucks reigns in coffee republic of South Korea; Drink, play and work
In South Korea, coffee is not just something to drink. It’s a culture, in which people drink, play and work.Koreans’ love affair with co...
Samsung Asset to launch S.Korea's first obesity treatment ETF
Korea Exchange announced on Thursday that it will list Samsung Asset Management's "KODEX Global Obesity Treatment Top 2 Plus exchange-traded fund (E...
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...
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...
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...
Harim gives up HMM deal over management rights dispute
South Korea's leading poultry processor Harim Co. has walked away from a $5 billion deal to buy HMM Co., South Korea’s No. 1 ocean carrier, re...
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...
GM chair to visit Korea, meet LG Energy, Samsung SDI CEOs
General Motors Chair and Chief Executive Mary Barra will visit South Korea on Wednesday to meet leaders of LG Energy Solution Ltd. and Samsung SDI C...
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...
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...
Naver Cloud, NHN Cloud to co-work for hyperscale AI
South Korea's Naver Cloud, the cloud computing unit of Naver Corp., and NHN Cloud Corp., announced on Monday that they have signed a memorandum of u...
Korea needs sustainable ecosystem for startup accelerators
South Korea needs to create a “sustainable ecosystem” to nurture influential startup accelerators like US tech startup accelerator Y Com...
Lexus tops imported car brands in Korea driver survey
Lexus ranked tops in a customer satisfaction survey of imported-car drivers in South Korea, which also found positive responses to the online purcha...
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...
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...
