Korean banks’ profits hamstrung by tighter rules, consumer behavior

Korean banks’ profits hamstrung by tighter rules, consumer behavior

South Korea’s commercial banks usually post decent earnings driven by high interest income when the country’s policy interest rates are ...

Krafton, Naver Z to establish metaverse joint company

Krafton, Naver Z to establish metaverse joint company

Krafton Inc., a leading game developer in South Korea, is establishing a joint company for a metaverse platform business with Naver Z Corp., a metav...

S.Korea’s first-generation bio companies set up support fund for new ventures

S.Korea’s first-generation bio companies set up support fund for new ventures

South Korea's first-generation bio companies and Industrial Bank of Korea (IBK) have created a bio investment fund to support ventures in the field ...

Naver launches image-generating platform Lasco AI

Naver launches image-generating platform Lasco AI

Naver Corp., South Korea’s dominant online platform, has ventured into the image-generative artificial intelligence market, challenging its ar...

NPS, Korea Investment to sell off stake in Brazilian miner CBMM

NPS, Korea Investment to sell off stake in Brazilian miner CBMM

South Korea’s National Pension Service (NPS) and Korea Investment Private Equity Co. are set to sell off their stake in a Brazilian rare metal...

BOK chief says tightening not over after rate freeze

BOK chief says tightening not over after rate freeze

South Korea’s central bank chief on Tuesday defied market views that the monetary authority may have ended its tightening campaign, citing gro...

BOK to hold rate on Tuesday as inflation, growth ease

BOK to hold rate on Tuesday as inflation, growth ease

South Korea’s central bank was widely expected to leave its policy interest rate unchanged this week as inflation slows amid fears of a recess...

Lotte Group secures $3.8 bn funding from four major Korean banks

Lotte Group secures $3.8 bn funding from four major Korean banks

Lotte Group announced on Friday that it has signed a financial support agreement worth 5 trillion won ($3.8 billion) with four major South Korean ba...

Macquarie to buy Lotte’s S.Korean transportation card unit

Macquarie to buy Lotte’s S.Korean transportation card unit

Macquarie Asset Management, part of Australian investment bank Macquarie Group, is set to buy Loca Mobility Corp., Lotte Card Co.’s subsidiary...

JB Financial wins proxy fight against activist fund Align Partners

JB Financial wins proxy fight against activist fund Align Partners

South Korea’s JB Financial Group Co. won a proxy battle against local activist fund Align Partners Capital Management on dividends and nominat...

Naver to aid in Saudi’s digital transformation, green light for Neom deal

Naver to aid in Saudi’s digital transformation, green light for Neom deal

South Korea’s online business giant Naver Corp. said on Thursday it has signed an initial agreement with the Saudi Arabian government to assis...

LINE, Mizuho call off plan to set up mobile-only bank in Japan

LINE, Mizuho call off plan to set up mobile-only bank in Japan

LINE Corp. and Mizuho Financial Group’s plan to introduce an internet-only bank in Japan has fallen through about five years after they unveil...

Korea's Hancom, Naver Cloud agree to cooperate in AI field

Korea's Hancom, Naver Cloud agree to cooperate in AI field

Hancom Inc. and Naver Cloud announced on Wednesday a strategic partnership to integrate Naver Cloud's large-scale artificial intelligence (AI) "Hype...

S.Korean fashion platform Ably attracts $39 mn before Series C round

S.Korean fashion platform Ably attracts $39 mn before Series C round

South Korea’s Ably Corp., operator of the fashion shopping app Ably, has attracted 50 billion won ($39 million) via venture debt amid the slow...

Samsung Pay adds Visa to overseas payment service

Samsung Pay adds Visa to overseas payment service

South Korea's mobile payment and digital wallet service Samsung Pay will allow its Visa-affiliated credit cards issued in the country to make overse...

PharmaResearch pays employees $7,706 bonus for having 3rd child

PharmaResearch pays employees $7,706 bonus for having 3rd child

With South Korea setting new lows in birth rate every year, PharmaResearch on Wednesday said it will adopt an unprecedented system of childbirth and...

KB, Hana drive major S.Korean overseas banking profits lower

KB, Hana drive major S.Korean overseas banking profits lower

KB Kookmin Bank and Hana Bank led weaker earnings of the four largest South Korean lenders’ overseas units last year although their rivals Shi...

SK C&C, Naver Cloud team up to boost AI services for Korean companies

SK C&C, Naver Cloud team up to boost AI services for Korean companies

SK C&C, a leading information technology service provider in South Korea, has announced a partnership with Naver Cloud to develop ultra-large ar...

Apple Pay to shake up S.Korea's digital payment market

Apple Pay to shake up S.Korea's digital payment market

The launch of Apple Pay in South Korea on Tuesday is poised to shake up the country’s digital payment market as the sector leader Samsung Pay ...

NHN, KT, Naver to jointly build AI semiconductor farm

NHN, KT, Naver to jointly build AI semiconductor farm

Three large cloud service providers (CSPs) in South Korea will participate as a team in the project K-Cloud pursued by the government to verify dome...

S.Korean biotech GI Innovation's IPO draws tepid market interest

S.Korean biotech GI Innovation's IPO draws tepid market interest

South Korean biotech GI Innovation Inc. is slated to debut on the local public market at less than half of its pre-IPO investment value, facing luke...

S.Korea confirms easing inflation; BOK to hold rate

S.Korea confirms easing inflation; BOK to hold rate

South Korea confirmed that inflation eased while Asia’s fourth-largest economy continued to slow, adding to expectations that the government m...

S.Korea's Naver gets global compliance certification

S.Korea's Naver gets global compliance certification

South Korea’s top search portal Naver Corp. said on Friday that it had received a global certification for its compliance management system fr...

Korea Eximbank teams up with US small nuclear reactor firm

Korea Eximbank teams up with US small nuclear reactor firm

The Export-Import Bank of Korea said on Thursday that it had signed a memorandum of understanding (MOU) with NuScale Power, a US company that develo...

Naver D2SF invests in 3D avatar-based communication startup

Naver D2SF invests in 3D avatar-based communication startup

Naver's startup-nurturing organization, D2 Startup Factory (D2SF), announced on Wednesday its investment in Goodgang Labs, a company focused on de...

SK C&C to build advanced info systems for Nongshim's overseas corporations

SK C&C to build advanced info systems for Nongshim's overseas corporations

South Korea's SK C&C, an IT services unit of SK Group, on Tuesday said it has started building next-generation information and communications ...

US bank failure triggers Asia’s 2008 PTSD

US bank failure triggers Asia’s 2008 PTSD

If anyone at South Korea's National Pension Service has been planning a 2023 vacation, it might be time to cancel. The recent collapse of Silicon...

Apple Pay to launch in South Korea on March 21

Apple Pay to launch in South Korea on March 21

Apple's mobile payment service, Apple Pay, is set to launch domestically in South Korea on March 21, according to industry sources on Monday.With th...

S.Korea's Krafton, Naver to set up JV for metaverse services in H1

S.Korea's Krafton, Naver to set up JV for metaverse services in H1

Krafton Inc., a leading game developer in South Korea, is slated to establish a joint venture with Naver Z Corp., a metaverse unit of the country&rs...

Naver offers platform for CJ in fight vs Coupang

Naver offers platform for CJ in fight vs Coupang

Naver Corp. is shaking up South Korea’s online shopping market led by Coupang Inc. as it has launched a next-day delivery service to challenge...

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