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

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 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...

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

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 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 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 ...

Woori Bank issues $700 mn in ESG bonds

Woori Bank issues $700 mn in ESG bonds

South Korea's Woori Bank announced on Thursday that it has issued $700 million (940 billion won) worth of foreign currency ESG (environmental, socia...

S.Korean securities downgrades GS E&C’s investment opinion

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

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...

Hyundai, Kia dominate US Best Cars for the Money

Hyundai, Kia dominate US Best Cars for the Money

Hyundai Motor Group announced on Friday that Hyundai Motor Co. and Kia Corp. have top seven categories in the 2024 Best Cars for the Money awards in...

Hyundai Motor signs 4-year lithium deal with Ganfeng Lithium

Hyundai Motor signs 4-year lithium deal with Ganfeng Lithium

Hyundai Motor Group will acquire lithium hydroxide, a key raw material for electric vehicle batteries, from the world’s No. 1 supplier Ganfeng...

Korean shipbuilders tighten grip on ammonia carrier market

Korean shipbuilders tighten grip on ammonia carrier market

South Korean shipbuilders continued to win very large ammonia carrier (VLAC) orders, expanding their shares in the global eco-friendly vessel market...

Hyundai Motor, Kia rank 4th in Europe with record 2023 sales

Hyundai Motor, Kia rank 4th in Europe with record 2023 sales

South Korea’s top automaker Hyundai Motor Group saw its vehicle sales in Europe rise to a fresh record high in 2023, driven by sport utility v...

Korean startup Moreh tops global large language model test

Korean startup Moreh tops global large language model test

South Korean artificial intelligence tech startup Moreh Inc. said on Thursday that its large language model (LLM) topped a performance assessment by...

Korean cosmetics makers' profits soar as niche brands grow

Korean cosmetics makers' profits soar as niche brands grow

Kolmar Korea Co. and Cosmax Inc., South Korea’s leading cosmetics suppliers to multinational conglomerates like L'Oréal S.A., are enjoy...

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

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 ...

LG Innotek, AOE join hands to lead vehicle, XR camera module markets

LG Innotek, AOE join hands to lead vehicle, XR camera module markets

South Korea’s major camera module maker LG Innotek Co. has joined hands with AOE Optronics Co., an automotive lens-making subsidiary of Taiwan...

Korean learning platform Elice raises $14.9mn from Vertex

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...

Steel giant POSCO raises $500 mn in 3-year green bonds

Steel giant POSCO raises $500 mn in 3-year green bonds

POSCO raised $5 million in three-year green bond sales on Jan. 16 to invest the proceeds in domestic facilities, the largest steelmaker in South Kor...

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

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-...

China to stop broadcast of S.Korean LoL league

China to stop broadcast of S.Korean LoL league

China will stop the official broadcast of League of Legends (LoL) Champions Korea (LCK), according to the South Korean game industry. “There w...

Korean corporate debt sale hits snag amid Taeyoung woes

Korean corporate debt sale hits snag amid Taeyoung woes

The South Korean corporate bond market is taking a direct hit from growing credit crunch concerns in the country’s construction sector trigger...

Hyundai sells Chongqing plant at $227 mn for China restructuring

Hyundai sells Chongqing plant at $227 mn for China restructuring

Hyundai Motor Co. has sold its plant in Chongqing for $227 million as the leading South Korean carmaker continues restructuring its business to surv...

SK Gas, SK D&D to venture into US ESS market with Apex

SK Gas, SK D&D to venture into US ESS market with Apex

SK Gas Ltd. and SK D&D Co. will build their first-ever energy storage system (ESS) facility in the US that can power 39,000 homes daily via a jo...

Korean wind power companies foresee tailwind from Taiwan, US

Korean wind power companies foresee tailwind from Taiwan, US

South Korean wind power companies such as SK oceanplant Co., HD Hyundai Electric Co. and CS Wind Corp. are expected to get a tailwind from Taiwan&rs...

Tata Daewoo triumphs in global market with 40% export surge

Tata Daewoo triumphs in global market with 40% export surge

South Korea's Tata Daewoo Commercial Vehicle Company (TDCV) achieved remarkable success last year by exporting 40% of its total sales, despite the g...

Korea Investment leads Mongolia Mortgage Corp.'s global bond issuance

Korea Investment leads Mongolia Mortgage Corp.'s global bond issuance

Korea Investment & Securities Co. (KIS) announced on Tuesday its successful completion of the lead management for a $225 million global bond iss...

Samsung looks to beat Apple with AI phones

Samsung looks to beat Apple with AI phones

With the Galaxy S24, Samsung Electronics Co.'s new flagship smartphone series, searching for real-time information and translation on the phone will...

Daesang launches alternative sweetener brand Sweevero

Daesang launches alternative sweetener brand Sweevero

South Korean food company Daesang Corp. announced on Tuesday that it is launching the integrated brand "Sweevero" for alternative sweeteners like al...

WeWork’s downsizing plan in Korea to hit office market

WeWork’s downsizing plan in Korea to hit office market

Coworking space provider WeWork Inc. plans to downsize its business in South Korea, according to banking sources on Sunday. Market watchers say inve...

Billboard to establish subsidiary in S.Korea in June 2024

Billboard to establish subsidiary in S.Korea in June 2024

The globally recognized American music entertainment media brand Billboard, known for its music charts, has announced the launch of its South Korean...

Samsung on hiring spree to bolster US foundry sales LS Electric poised to join Nvidia's supply chain via Vertiv deal Is chip winter over? Doomsayers gone as Korea’s DRAM exports surge S.Korea to have 1st civilian defense minister in decades, tap career technocrats Fubon Bank expands Korea presence into banking