New WON Banking
Scope
Date
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Korean stock market
Samsung C&T to cancel $2.3 bn worth of treasury shares, stocks up
Samsung C&T Corp.’s share price zoomed on Thursday on news that the company will cancel its entire treasury stock holdings worth about 2.9...
Feb 16, 2023 (Gmt+09:00)
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Electronics
Samsung develops world's first reusable air filter for harmful gases
Samsung Electronics Co., the South Korean electronics giant, has developed the world’s first filter that can remove both fine dust and harmful...
Feb 16, 2023 (Gmt+09:00)
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Airlines
Lotte Hotel forms new mileage partnership with Singapore Airlines
On Wednesday, Lotte Hotels & Resorts announced its new mileage partnership with Singapore Airlines, marking the hotel group's first international ...
Feb 16, 2023 (Gmt+09:00)
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Business & Politics
Korea's Yoon presses banking, telecom sectors over inflation
South Korean President Yoon Suk-yeol on Wednesday called for measures to stabilize mounting price pressure caused by "oligopolies" in the banking an...
Feb 15, 2023 (Gmt+09:00)
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Tech, Media & Telecom
LG Innotek targets XR device market with new substrate
South Korea’s LG Innotek Co. aims to lead the market for components of the extended reality (XR) device industry, which is expected to surge b...
Feb 15, 2023 (Gmt+09:00)
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Artificial intelligence
Kakao Brain presents text-based AI motion generation model
On Tuesday, Kakao Brain, the AI unit of South Korea's Kakao Corp., announced the development of a new text-based motion generation model, called "FL...
Feb 15, 2023 (Gmt+09:00)
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Automobiles
Hyundai Motor offers Bluelink free to new customers in US
Hyundai Motor Co. in a world first is offering lifetime membership of its connected car care service Bluelink free to new customers in the US, judgi...
Feb 14, 2023 (Gmt+09:00)
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Artificial intelligence
S.Korean IT firms rush for tie-ups to compete with ChatGPT
South Korean tech companies are rushing to form partnerships in different sectors to develop superior AI services to compete with ChatGPT, a chatbot...
Feb 13, 2023 (Gmt+09:00)
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ESG
Responsible mineral sourcing key to Korean battery materials makers
South Korea’s battery materials makers are stepping up their efforts to conform to environmental, social and governance (ESG) standards throug...
Feb 13, 2023 (Gmt+09:00)
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Earnings
S.Korea game sector remains in dark after poor earnings
South Korea’s game publishers reported dismal quarterly earnings, deepening concerns over their outlook this year amid doubts over measures su...
Feb 10, 2023 (Gmt+09:00)
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Banking & Finance
S.Korea's banks see deposits plummet $35.5 billion in Jan
Banks in South Korea last month saw deposits plummet over 45 trillion won ($35.5 billion) from the previous month due to a decline in deposit intere...
Feb 10, 2023 (Gmt+09:00)
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Leadership & Management
KT under pressure for transparency, fairness to pick new CEO, again
South Korea’s leading telecommunications company KT Corp. will pick a new chief executive after it came under fire over its CEO select...
Feb 09, 2023 (Gmt+09:00)
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Bio & Pharma
HLB’s Rivoceranib, Hengrui's Camrelizumab approved as combination therapy in China
South Korea's HLB Co. announced on Thursday that the combination therapy of its drug candidate rivoceranib and Jiangsu Hengrui Pharmaceuticals Co., ...
Feb 09, 2023 (Gmt+09:00)
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Retail
Philip Morris aims to top Korea's heated-tobacco market with Iluma
Philip Morris International Inc., a major US tobacco maker, aims to regain the throne in South Korea's competitive heat-not-burn cigarette market wi...
Feb 09, 2023 (Gmt+09:00)
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Cryptocurrencies
Binance acquires majority stake in S.Korea's crypto exchange Gopax
Binance, the leading cryptocurrency exchange globally, has acquired a majority stake in South Korea's Gopax by purchasing CEO Lee Joon-haeng's 41.2%...
Feb 09, 2023 (Gmt+09:00)
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Banking & Finance
Kakao Bank announces record-high performance in 2022
South Korea's KakaoBank Corp. on Wednesday said its net profit last year reached a record-high 263.1 billion won ($208.6 million), up 28.9% from 202...
Feb 09, 2023 (Gmt+09:00)
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IPOs
S.Korea's InnoGene sets its public offering price at 3,000 won
InnoGene, which is seeking to be listed on the Kosdaq market at the end of this month, said on Wednesday that it has confirmed its offering price at...
Feb 09, 2023 (Gmt+09:00)
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Insurance
Kyobo Life Insurance speeds up creation of holding company
South Korea’s Kyobo Life Insurance Co. is set to establish a holding company by the second half of 2024. The major insurer seeks to raise its ...
Feb 08, 2023 (Gmt+09:00)
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Electronics
LG makes big B2B push to regain momentum, boost profits: CEO
South Korea’s home appliance giant LG Electronics Inc. is stepping up efforts to enhance its presence in the global business-to-business marke...
Feb 08, 2023 (Gmt+09:00)
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Tech, Media & Telecom
AfreecaTV, VTVCab agree on live streaming platform service in Vietnam
South Korea's video streaming platform AfreecaTV Co. said Wednesday that it has agreed with VTVCab, a member of Vietnam's largest state-run TV...
Feb 08, 2023 (Gmt+09:00)
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Bio & Pharma
Korean biopharma, biotech companies scale up as sales balloon
South Korea’s biotech and biopharmaceutical companies are growing big with their sales rising above 1 trillion won ($796 million) last year on...
Feb 07, 2023 (Gmt+09:00)
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Foreign exchange
S.Korea to allow offshore investors to directly trade won
South Korea is set to allow offshore investors to directly trade the won and extend the operating hours of the local currency market from July next ...
Feb 07, 2023 (Gmt+09:00)
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Robotics
Samsung Electronics to launch its first robot EX1 this year to rival LG
Samsung Electronics Co. will bring its first robot EX1 to market this year to compete with LG Electronics Inc., shifting its focus from traditional ...
Feb 06, 2023 (Gmt+09:00)
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Foreign exchange
Korean won falls on firm US jobs data, new BOJ head report
The South Korean won currency skidded to a four-week low on Monday as stronger-than-expected US employment data renewed expectations that the Federa...
Feb 06, 2023 (Gmt+09:00)
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Bio & Pharma
South Korean biotech firms tap Middle East as next key market
South Korean biotech companies are speeding up their foray into the Middle East to tap oil money as they seek new growth engines beyond fossil fuels...
Feb 06, 2023 (Gmt+09:00)
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Mergers & Acquisitions
Dongwon Industries in talks to buy McDonald’s Korea as exclusive suitor
Dongwon Industries Co. will discuss a deal with McDonald’s Corp. to buy the latter’s Korean operations in hopes of riding on the renewed...
Feb 06, 2023 (Gmt+09:00)
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Electronics
LG Electronics exhibits Art Lab in New York
LG Electronics Inc. recently introduced "LG Art Lab," a non-fungible token art trading platform mounted on LG TVs, through a large display board in ...
Feb 06, 2023 (Gmt+09:00)
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Banking & Finance
Industrial Bank of Korea goes all in with Eastern Europe push
Industrial Bank of Korea (IBK) will open an office in Poland in the first half of this year, with analysts saying the bank's president Kim Seong-tae...
Feb 06, 2023 (Gmt+09:00)
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Tech, Media & Telecom
NCSOFT lays off 20% of US operation before new game release
NCSOFT Corp., South Korea’s major game developing and publishing company, has recently laid off about 20% of its North American operation, joi...
Feb 03, 2023 (Gmt+09:00)
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Bio & Pharma
Prestige Biopharma submits clinical trial plan in Australia
Prestige Biopharma, a Singapore-based biopharmaceutical company with operations in South Korea and the US, has applied to the Australian clini...
Feb 03, 2023 (Gmt+09:00)
Latest News
- 1 LG Chem closes $1 bn water filter division sale to Glenwood PE
- 2 Hyundai Motor-backed Motional names AI veteran Laura Major as CEO
- 3 President Lee: Businesses at center of policy priorities for economic growth
- 4 Samsung supplies HBM3E to AMD’s new accelerators
- 5 Seoul agrees to reduce Jakarta’s KF-21 cost share by two thirds