Korea’s Hanwha Ocean quits money-losing container shipbuilding business

South Korea’s Hanwha Ocean Co., the world’s third-largest shipbuilder, has decided to exit the money-losing container shipbuilding busin...

S.Korea launches official probe into HSCEI-tied ELS sale

South Korea’s financial authorities have opened an official probe into local banks and securities firms’ potential misselling of equity-...

Asiana, Korea Univ. to jointly attract medical tourism

South Korea's Asiana Airlines Inc. announced on Monday that it has partnered with Korea University Anam Hospital to promote medical tourism. The agr...

LG Uplus invests $7.6 mn in 42Maru

South Korea’s LG Uplus Corp. announced on Sunday that it has invested 10 billion won ($7.6 million) in 42Maru, a domestic language AI startup....

Korea’s HMM among shippers benefiting from growing Red Sea crisis

The Red Sea crisis, disrupting the passage of ships through the Suez Canal, a central artery for global trade, is a bane for exporters looking for s...

Korea’s Hancom buys document software firm Clipsoft

Hancom Inc., a homegrown office suite developer in South Korea, said on Friday that it has acquired local business-to-business (B2B) digital documen...

South Korea Boosts Security for Politicians as New Threats of Violence Emerge

SEOUL—South Korea beefed up security for prominent political figures as new threats of violence materialized against top officials, including ...

Korean fried chicken: World's favorite K-food

In 2023, Korean-style fried chicken retained its crown as the most-loved Korean dish among global consumers, marking its fourth consecutive year a...

N.Korea fires more than 200 artillery shells off its west coast

North Korea's military conducted coastal artillery fire in the western part of the country on Friday.The North Korean military fired more than 200 a...

Korean travel agencies enjoy surging overseas trip demand

South Korea’s travel agencies enjoyed strong demand for overseas trips, adding to hopes that their earnings are likely to improve further this...

BMW overtakes Mercedes-Benz as top-selling foreign carmaker in S.Korea

BMW has overtaken Mercedes-Benz in the South Korean market, regaining the top spot in the foreign automobile sales segment for the first time in eig...

Korea’s top regulator detects more foreigners’ naked shorting

South Korea’s top financial regulator is detecting more circumstances of naked short-selling worth tens of millions of dollars by foreign inve...

Hanwha to develop own gas turbine engine for future growth

CHANGWON, South Gyeongsang Province – Hanwha Group, South Korea’s chemicals-to-defense conglomerate, is set to double its local gas turb...

Scrap steel price poised to rebound on lower inventories

Scrap steel prices in South Korea are poised to bounce back after hitting an annual low in the last month of 2023 amid declining scrap metal invento...

LG to inject $700 million in startups in West Virginia

CHARLESTON, WV – LG Electronics Inc. will form a fund with the State of West Virginia to inject $700 million over the next five years to foste...

S.Korea steps up probe on alleged submarine tech leaks to Taiwan

South Korea stepped up an investigation into alleged technology leaks of a submarine developed by Daewoo Shipbuilding & Marine Engineering Co. t...

DN Solutions seeks IPO at $3 bn enterprise value on Korea’s main bourse

DN Solutions Co., formerly Doosan Machine Tools Co., is seeking an initial public offering on South Korea’s main bourse, aiming to make a Kosp...

Korean semiconductor startups shine in venture downturn

South Korean startups in the semiconductor, eco-friendly and electric vehicle battery sectors succeeded in attracting investors in the second half o...

Digital healthcare, robot, AI chip startups among VCs’ 2024 top picks

Startups that specialize in digital healthcare, robots and artificial intelligence chips are among South Korea-based venture capital firms’ to...

Nexon fined over MapleStory in-game item selling

South Korea’s online game developer Nexon Korea Corp. was fined 11.6 billion won ($8.9 million) for allegedly misleading its customers over in...

POSCO Holdings’ Chairman Choi to hand over baton

POSCO Holdings Inc.'s Chairman Choi Jeong-woo is not among the company’s next CEO candidates, suggesting Choi will leave the company after ser...

MBK names two partners as vice chairman, vice president

MBK Partners said on Wednesday it has named Moon Joo Ho, partner and head of South Korea for special situations, as the North Asia-focused private e...

Korea’s NPS sees record assets, profit on double-digit return

South Korea’s National Pension Service (NPS) enjoyed record assets and profit in 2023 as the world’s third-largest pension fund reported...

Korea’s Gmarket poised to post 1st profit since Shinsegae’s takeover

Gmarket, a major e-commerce website based in South Korea, likely turned to profit in the fourth quarter of last year, which would mark the first tim...

KEPCO sells 15% stake in KEPCO E&C for $269 million

Korea Electric Power Corp. (KEPCO), South Korea’s state-owned utility company grappling with mounting losses, has secured additional funds of ...

Adidas Korea separates its marketing strategy from APAC

Sportswear giant adidas AG started operating its South Korean affiliate as a separate market from the Asia-Pacific region on Jan. 2 to quickly respo...

KAI completes 1st batch of fighter jet exports to Poland

Korea Aerospace Industries Ltd. (KAI), the country’s sole military aircraft manufacturer, completed its first batch of fighter jet exports to ...

South Korea set to abolish financial investment gains tax: Yoon

South Korea plans to abolish capital gains taxes on financial investments to revitalize the lackluster domestic financial market and help individual...

Foreign net buying of Samsung Elec at record high in 2023

Foreign investors turned net buyers of Samsung Electronics Co. in 2023, reversing their selling spree of the stock over past three years, as the sem...

Samsung, SK Hynix join forces with foreign rivals to win AI chip war 

South Korea’s two chip giants Samsung Electronics Co. and SK Hynix Inc. are expected to further deepen ties with rivals and customers from aro...