Hyundai to make IONIQ 5 in Indonesia, EV hub for ASEAN market

Hyundai Motor Co. has started mass producing its iconic all-electric crossover IONIQ 5 at its newly built plant in Indonesia, a country that the top...

Biotech startup Voronoi withdraws IPO plans

South Korea’s biotechnology startup Voronoi Inc. scrapped its plan to go public this month. The new drug developer announced Wednesday it...

Service robot maker Bear Robotics raises $81 mn in Series B

South Korea’s robotics startup Bear Robotics Inc. announced Wednesday it raised $81 million in Series B funding from venture capital heavywe...

LIG Nex1, Eugene plan $80.5 mn fund for Korea defense startups

LIG Nex1 Co., South Korea’s major defense exporter, plans to set up a $80.5 million venture investment fund with Eugene Investment & Secur...

Nine out of 10 VC heads in S.Korea say startups overvalued: Survey

Heads of South Korea’s leading venture capital firms say domestic startups have entered a phase of overvaluation. The Korea Economic Dail...

Visual effects startup VA Corp joins ranks of unicorns

Visual effects production startup VA Corporation announced Monday it received 100 billion won ($80.4 million) from private equity fund Paratus Inv...

Translink and Banks Foundation form $10 mn fund for S.Korean startups

South Korea’s venture capital firm Translink Investment and non-profit organization Banks Foundation for Young Entrepreneurs agreed to launch ...

Poongsan, Korea Zinc to benefit from rising raw material prices

South Korea’s non-ferrous metal smelters such as Korea Zinc Co. and Poongsan Corp. are set to benefit from rising prices of raw materials in t...

Korean shipbuilders see material impact from sanctions on Russia

International sanctions on Russia over its invasion of Ukraine are set to have a material impact on South Korea’s three largest shipbuilders, ...

Suresofttech wins deal to verify NuScale’s mini reactor software

Suresofttech Co., a South Korean developer of verification tools for software quality, has won a deal to check a key system in small-size reactors m...

Edtech startup Riiid joins Fast Company's list of most innovative firms

South Korea’s AI education startup Riiid has made it onto Fast Company's annual list of the World’s Most Innovative Companies. Since 20...

S.Korean builders, tech stocks rally after election

The South Korean stock market rose across the board on Thursday, reacting positively to the election of former prosecutor generator Yoon Suk-yeol as...

Pearl Abyss releases mobile game Black Desert in China in April

South Korean game developer and publisher Pearl Abyss set a China release date of April 27 for its cross-platform MMORPG Black Desert on the App Sto...

Korea Inc. in dilemma over Russia biz amid Ukraine war

South Korea’s major companies are in a sticky situation over their businesses in Russia following its invasion of Ukraine. Governments in the ...

AI startup InterMinds builds Smart Stores with conglomerates

Convenience stores are hotbeds for South Korean IT companies to test their artificial intelligence (AI) technology.That is because the establishment...

Actis names Scott Choi as its first Korean partner

Private equity firm Actis LLP has promoted its Seoul office Chief Executive Scott Choi as a partner, the company said on March 7. Choi is the first ...

K Car's evolution into top Korean used car sales platform

When Seoul-based private equity firm Hahn & Co. acquired K Car Co. from SK Group in 2018, the No. 1 used car retailer in South Korea controlled ...

Thanks to deep learning, we're in biggest tech boom cycle: GFT Ventures

"We believe we're in one of the biggest technology boom cycles,” said Jeff Herbst, co-founding managing partner of Palo Alto-based GFT Venture...

Korean won extends losses as oil hits 14-year high

South Korea’s won currency skidded to a fresh low in nearly two years as oil prices spiked to a 14-year peak with fears of a prolonged war bet...

Russia-Ukraine war disrupts Korean exports to Europe

Suspended land, air and sea routes to and from Russia are putting South Korean exporters – from Samsung Electronics Co. and Hyundai Motor Co. ...

Cloud management provider Cloocus receives $41 mn in Series B funding

Cloud management service provider Cloocus Co. has received 50 billion won ($40.8 million) from SK Inc. C&C, those familiar with the investment...

Korean won nears 2-year low, adds to inflation woes

The South Korean won currency tumbled to its lowest point in almost two years on Friday, adding to inflationary pressure in Asia’s fourth-larg...

War in Ukraine: Risk and opportunity for Korean shipbuilders

The escalating conflict between Russia and Ukraine is posing both a risk and an opportunity for South Korea’s three largest shipbuilders, whic...

Korean content shares jump on Beijing’s eased restrictions 

South Korean content shares finished Friday’s trade higher, buoyed by expectations of resumed exports to China and news that Disney+ will rele...

Hyundai shuts Russia car plant for 1 wk on parts shortages

Car production at Hyundai Motor Co.'s plant in Russia has been halted since March 1 as the Russia-Ukraine war further aggravated shortages of automo...

Korea’s Voronoi in talks with global firms on drug designs

South Korea’s biotechnology startup Voronoi Inc. is in talks with global biomedical companies on drug designs as it aims to expand the busines...

Korean SPAC Valuence Merger debuts on Nasdaq, targets bio M&As

Valuence Merger Corp. 1, a special purpose acquisition company (SPAC), led by South Korean fund managers, has debuted on the Nasdaq, targeting Asian...

Korean LPs name their 36 favorite alternative asset managers

KKR was chosen as the best private equity firm by South Korean institutional investors, a survey shows. Blackstone, Macquarie Asset Management and Are...

Korean bio ventures struggle with fundraising

Biopharmaceutical companies of South Korea are having a tough time fundraising of late. Bio ventures without specific public offering plans are pa...

Korean inflation fears grow amid Ukraine crisis

Fears are growing over accelerating inflation in South Korea as Russia’s invasion of Ukraine boosted energy and raw materials prices. The cris...