UK satellite firm OneWeb to provide services in Korea

UK’s satellite company OneWeb plans to provide services for airlines and ships in South Korea where its geographic conditions kept the existin...

VA Corp. to build Asia’s largest virtual studio with LG’s LED displays

VA Corp. (VAC), a South Korean visual effects production startup, is building Asia’s largest virtual studio complex equipped with super-large ...

LG bets $34 bn on battery, automotive electronics biz for its future

LG Group, South Korea’s fourth-largest conglomerate, is set to pour $34 billion into the battery, automotive electronics and other future grow...

North Korea fires three missiles after Biden ends Asia trip

TOKYO — North Korea fired a suspected intercontinental ballistic missile early Wednesday that flew only briefly before landing in the sea east o...

Doosan to ramp up small nuclear reactor investment

Doosan Group will invest 5 trillion won ($4 billion) over the next five years, primarily in next-generation energy sectors such as small module reac...

Hyundai to spend $30 bn on improving quality of combustion engine cars

Hyundai Motor Group will invest 63 trillion won ($50 billion) in its domestic businesses through 2025 to strengthen its competitiveness in electrifi...

Hanwha to boost defense, aerospace biz with $2.1 bn spending

Hanwha Group, South Korea’s chemical-to-financial conglomerate, is set to invest 37.6 trillion won ($29.8 billion) in future growth sectors su...

Tous les Jours, the next K-bakery to lure US customers

Tous les Jours, South Korea’s second-largest bakery franchise, is rapidly expanding its US business by attracting customers with greater varie...

Hyundai to invest $10.5 bn in US EV, future mobility sectors

Hyundai Motor Group, South Korea’s top automaker, unveiled plans to spend $10.5 billion on the auto industry in the US through 2025 as it aims...

Korea may be backpedaling in semiconductor push: Lawmaker

A sudden surge in demand for semiconductors post-pandemic, coupled with a prolonged chip shortage, has forced policymakers worldwide to revisit poli...

S-Oil shuts processing units after one killed, nine injured in blast

ULSAN, South Korea -- S-Oil Corp., Saudi Aramco’s refining unit in South Korea, has shut some of its production facilities in a move that will...

KT maintains throne in Korea pay TV market in H2 2021

KT Corp., a major South Korean telecommunications company, and its affiliates had the largest subscribers of the country’s pay TV services, ma...

Hyundai, Kia to inject $16.6 bn into EV production in South Korea 

The Hyundai Motor Group announced the conglomerate’s domestic investment blueprint on Wednesday. The backbone of the investment plan is to ma...

Korea electronics retailers face headwind from e-commerce, dept. stores

South Korea’s major electronics retailers such as Lotte Himart are facing a headwind as more customers are buying home appliances online and d...

Hancom to launch South Korea’s first private satellite

Hancom InSpace, an affiliate of Hancom Group, announced on Wednesday it will launch South Korea’s first private satellite for Earth observatio...

Crypto investors threaten Terraform founders with class-action lawsuit

Cryptocurrency investors in South Korea have threatened to file a class action lawsuit against co-founders of the disgraced blockchain platform oper...

MBK puts home decor firm Modern House on market

MBK Partners has added South Korea's top home decor company Modern House to the list of assets it plans to exit this year, as domestic retail giants...

Korea’s Iljin to build $391 mn battery materials plant in Spain

South Korea’s Iljin Materials Co. plans to invest 500 billion won ($391.2 million) in a battery materials plant in Spain, its first production...

BOK chief says big-step rate hikes possible; bond yields jump

South Korea’s central bank chief said he will consider big-step interest rate hikes in the coming months to curb inflation in Asia’s fou...

Korea's key movie firm to push content production M&As

In recent years, the content creation industry in South Korea has been a key investment sector for local investment banks. Some major content produc...

Korea's top patient monitoring device maker targets pet sector

South Korea’s leading patient monitoring device maker Mediana Co. is targeting the pet medical industry while seeking an artificial intelligen...

S.Korea to launch $1.3 bn air taxi research project

The South Korean government will launch a 1.6 trillion won ($1.3 billion) project to set basic standards for urban air mobility (UAM), or air taxi, ...

Korea's top real estate managers bulk up assets in COVID-19

Real estate funds in South Korea have increased by 27% to 130 trillion won ($101.4 billion) from 102 trillion won over the past two years, accordi...

Korea President Yoon to hold emergency meeting over won

South Korea’s new President Yoon Suk-yeol called an emergency meeting as the won currency tumbled to its weakest level since the 2008-09 globa...

LG Energy begins joint research on smart factory tech with elite institute

LG Energy Solution Ltd. and Pohang-based Research Institute of Industrial Science and Technology (RIST) announced Wednesday they will embark on join...

One Store becomes fifth Korean IPO dropout this year

One Store Co., South Korea's homegrown app store, on Wednesday canceled its initial public offering on the Korea Exchange, after its shares failed t...

South Koreans turned off by luxury fashion houses’ price hikes 

A Cartier boutique inside a department store in Seoul’s posh Gangnam District was unusually slow on Tuesday. The quiet ambience was in sh...

HBO, Paramount to enter Korea via local OTT players

Two US streaming platforms HBO Max and Paramount Plus will be launching South Korean services this year via domestic over-the-top (OTT) players in a...

LG’s telecommunication unit joins UAM race in Korea

LG Group’s telecommunication unit joined the race for South Korea’s urban air mobility (UAM) to secure a future growth engine in coopera...

South Korea’s new president offers Pyongyang economic aid for denuclearization

SEOUL—South Korea’s new president said he would keep the door open for dialogue with North Korea and provide support for its fragile econo...