Korean chipmakers tumble, wipe out $13 billion in market capitalization

Shares of South Korea’s two largest chipmakers – Samsung Electronics Co. and SK Hynix Inc. – are slumping on a bearish industry ou...

Lotte Rental invests over $20 mn in autonomous driving startup ahead of IPO

South Korea's largest car rental and auto leasing company Lotte Rental Co. is set to invest 25 billion won ($21.8 million) in a domestic autonomous ...

Hyundai Motor to make equity investment in Germany’s H2 Mobility

Hyundai Motor Co. is investing in H2 Mobility Deutschland GmbH & Co., a German operator of hydrogen fueling stations, as the top South Korean au...

SK Innovation to split battery unit in October, seeks IPO

South Korea’s top energy company SK Innovation Co. decided to split off its battery business in October with a plan to list the new affiliate ...

Kolon Industries posts strong Q2 results with growth in all key areas

Kolon Group’s industrial materials maker Kolon Industries Inc. saw a quarterly operating profit over 100 billion won ($87 million) for the fir...

Samsung overtakes Intel as foundry looms as next battlefield

Samsung Electronics Co. overtook Intel Corp. as the world’s top chipmaker by revenue in the second quarter, but the South Korean technology gi...

Inside Samsung: Top level meetings drive ecosystem buildup

Samsung Electronics Co.’s latest strategic focus is setting up its own ecosystem of devices ranging from mobile phones, home appliances to TVs...

Lotte to resume $4.4 bn Indonesia petrochemical project next year

Lotte Group plans to resume a $4.4 billion petrochemical project in Indonesia next year as it aims to expand the business in Southeast Asia where de...

GS Group invests $26 mn in Kakao Mobility

South Korea’s GS Group has invested 30 billion won ($26 million) in Kakao Mobility Corp. to fast forward its energy unit’s transition to...

IMB Dx eyes platform to detect stage 1 cancer with single draw of blood

IMB Dx Inc., a South Korean biotechnology startup focusing on diagnostic devices, plans to develop a platform that can detect early-stage cancer wit...

SpaceX to launch S.Korea’s next-generation satellite

Elon Musk’s SpaceX and Korea Aerospace Industries (KAI) have joined hands to develop next-generation mid-sized satellite projectiles, suggesti...

Masayoshi Son's top pick Yanolja eyes 2023 Nasdaq listing

South Korea's largest travel platform Yanolja has raised 2 trillion won ($1.7 billion) from the Masayoshi Son-led SoftBank Vision Fund II, marking t...

Affinity, GS Retail likely to acquire Korean delivery platform Yogiyo

A consortium led by global investment firm Affinity Equity Partners is the most likely candidate to acquire South Korea’s second-largest food ...

Korea’s auto parts makers post record revenues in 2020

South Korea’s auto components makers posted another year of strong sales in the global market last year, according to the Detroit-based Automo...

Samsung Next ramps up investment in NFT ventures

Samsung Electronics Co. is betting big on non-fungible token (NFT) companies through its venture capital unit Samsung Next, headquartered in Mountai...

Lotte Chemical to double LPG use as petchem makers diversify feedstock

South Korean Lotte Chemical Corp. plans to double liquefied petroleum gas (LPG) use for ethylene production by next year as the domestic industry ru...

LG invests $88 mn in Kakao Mobility as both seek new growth opportunities

LG Corp., the holding company of South Korea’s fourth-largest conglomerate LG Group, is investing 100 billion won ($88 million) in Kakao Mobil...

Impressivo to bridge fitness and healthcare industry via sensing technology

San Francisco-based startup Impressivo is seeking partnerships in the fitness and healthcare sector as the company aims to bridge the fitness and he...

Edge computing revolution to fuel Korea’s growth over the next decade

Korea’s leading firms across multiple industries, from consumer electronics to agricultural equipment, are widening the use of edge computing ...

Mobile game developer Netmarble Neo kicks off IPO process

Following in the footsteps of its bigger rival Krafton Inc., South Korean mobile game developer Netmarble Neo has kicked off its initial public offe...

Seegene develops one-stop COVID-19 testing lab on wheels; eyes MENA expansion

South Korea-based diagnostic kit maker Seegene Inc. has developed a mobile diagnostic and testing lab that offers a one-stop solution for COVID-19 t...

Hyosung, Linde kick off building world’s largest liquid hydrogen plant

Hyosung Group has once again made a key step forward in achieving its long-term ambition to become South Korea’s corporate leader in the hydro...

Hyundai eyes smart mobility with Boston Dynamics acquisition

Hyundai Motor Co. said on Monday it is shifting its business focus toward smart mobility from brick-and-mortar carmaking following its acquisition l...

Naver's Line makes remote working the new norm; who will be next?

South Korea-based Line Plus Corp. is set to become the country's first large business group to allow employees to work from home permanently. T...

Kia, Uber form electric mobility partnership in Europe

South Korea’s second-largest automaker Kia Corp. has forged a partnership with Uber Technologies Inc. to supply electric vehicles in Europe fo...

Kakao becomes 3rd most valuable company in Korea

Kakao Corp. is now the third most valuable company in Korea, after Samsung Electronics Co. and SK Hynix Inc.Kakao’s market cap on June 15 surp...

KT makes another step beyond telecom, enters digital therapy sector

The telecom companies in South Korea, one after another, are taking bold steps outside their traditional turf of mobile business.  They are eng...

NPS joins in TPG-led $125 mn funding for Kakao Mobility

The National Pension Service has committed $100 million to a TPG consortium that recently raised $116.8 million to invest in Kakao Mobility Co., Sou...

Hanwha Systems’ $1 bn rights offer oversubscribed; investors to book gains

South Korea’s Hanwha Systems Co. is set for a successful rights offering as the defense and air mobility unit of Hanwha Group has garnered str...

Samsung unveils low-end 5G phone to rival China’s cheap models

Samsung Electronics Co. on Friday launched a low-end 5G smartphone in overseas markets amid intensified price competition initiated by Chinese mobil...