Hotel Shilla to challenge Lotte’s duty-free shop dominance in Korea

South Korean leading luxury hotel and retail operator Hotel Shilla is challenging its crosstown rival Lotte, the dominant player in the country&rsqu...

PwC’s S.Korean member to focus on SE Asia acquisition deals

Samil PricewaterhouseCoopers, the South Korean member firm of global accounting industry leader PwC, aims to focus on overseas acquisition deals of ...

Korea’s GEPS to begin investing in global buyout, growth funds

South Korea’s Government Employees Pension Service (GEPS) is set to inject 100 billion won ($74.7 million) to make its first investments in gl...

S.Korea’s HD KSOE, Samsung Heavy post surplus amid order rally

South Korea’s HD Korea Shipbuilding & Offshore Engineering (KSOE) and Samsung Heavy Industries (SHI) posted good performance in the firs...

LG Elec’s home appliance unit hits record-high profit in Q1

The home appliance division of LG Electronics Inc. posted its largest ever quarterly profit in the January-March period, exceeding the 1 trillion wo...

Korea’s SK Gas to invest $1.5 bn toward carbon neutrality by 2026

ULSAN – SK Gas Ltd. South Korea’s leading liquefied petroleum gas (LPG) supplier, is set to spend $1.5 billion on liquefied natural gas ...

S.Korea to support exports of 100 SMEs in metaverse, XR industry

South Korea's Ministry of Science and ICT announced on Thursday that it will support the export of 100 small- and medium-sized enterprises (SMEs) in...

S.Korea, US to jointly invest $60 mn for student exchange programs

South Korea and the United States have agreed to jointly invest $60 million in the exchange of young professionals in the field of science and techn...

S.Korea to abolish customs declaration forms from May

Starting from May 1, South Korea's travelers who have no items to declare to customs upon entry will not have to fill out a customs declaration form...

S.Korean walking app Cashwalk debuts in Spain, Italy

Nudge Healthcare, a South Korean startup that operates the health management app Cashwalk, has added Italy and Spain to the list of overseas markets...

POSCO Int’l Q1 operating profit up 30% with merged energy affiliate

POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., reported a 30% on...

KT Submarine to install part of undersea cable for Google, Meta

South Korea’s undersea cable company KT Submarine Co. said on Thursday that it has signed a 9.2 billion won ($6.85 million) contract with Japa...

Korea clears way for Hanwha's $1.45 bn takeover of DSME

South Korea’s Fair Trade Commission (FTC) on Thursday gave its nod for Hanwha Group’s 2-trillion-won ($1.45 billion) takeover of Daewoo ...

Chinese weak domestic demand causes S.Korean trade deficit: report

The Korea International Trade Association (KITA) has urged South Korea to develop a strategy to strengthen exports to China based on its market situ...

Dongwon Group drops bid to take over McDonald’s Korea

Dongwon Group has canceled its bid to take over McDonald's franchise in South Korea."We reviewed the takeover of McDonald's Korea but our conclusion...

Korean Air, Asiana to increase award seats ahead of merger

Korean Air Lines Co. and Asiana Airlines Inc. are set to increase award seats while revising their membership terms and conditions to help customers...

S.Korea’s IT parts makers reeling from sluggish smartphone, TV sales performance

  South Korea’s major information technology parts makers like Samsung Electro-Mechanics, LG Innotek and LG Display Co. suffered huge dr...

S.Korea’s Musinsa, Disney to collaborate character products

South Korea’s online fashion platform Musinsa has partnered with the Walt Disney Company Korea, a Korean unit of the global entertainment...

S.Korea, UL Solutions sign agreement for supporting domestic startups

The South Korean Ministry of SMEs and Startups announced on Thursday that it has signed a business agreement with global certification agency UL Sol...

S.Korea’s 20-somethings tighten belts due to high interest rates: report

The decline in consumption by 20-somethings due to benchmark interest rate hikes is over eight times greater than those in their 60s.Analysts blame ...

Seoul zeroes in on high tech for US business alliance

South Korean President Yoon Suk Yeol is off to a smooth start on his six-day state visit to the US this week, which is expected to pave the way for ...

Kia expects stellar Q2 after reporting record operating profit in Q1

Kia Corp., the smaller sibling of South Korea’s largest automaker Hyundai Motor Co., presented a rosy earnings outlook for the second quarter ...

S.Korea’s SoluM joins Vietnam's largest EV charging project

SoluM Co., a South Korean mid-sized electronic component maker, said on Wednesday that it signed an agreement with PetroVietnam Power Corporation, a...

S.Korea to offer subsidies to foreigners investing in advanced technologies

Foreign companies investing in the fields of semiconductor, display and secondary batteries, which are part of South Korea's national strategic tech...

S.Korea gov’t hosts sales event for domestic, US SMEs

South Korean small- and medium-sized enterprises (SMEs) expanded their exchange and cooperation with US firms during President Yoon Suk yeol's state...

Louis Vuitton to turn bridge over Seoul river into catwalk

Global luxury brand Louis Vuitton will premiere a fashion show in Seoul this weekend, expecting to attract leaders from the global fashion, culture ...

Hyundai Steel unveils carbon neutrality roadmap

South Korea's steelmaker Hyundai Steel unveiled on Wednesday its "Carbon Neutrality Roadmap" aimed at reducing its direct and indirect carbon emissi...

POSCO Future M to supply LG Energy Solution $22.6 bn worth of cathodes

POSCO Future M Co. on Wednesday signed a long-term contract with LG Energy Solution Ltd. (LGES) to supply 30.26 trillion won ($22.6 billion) worth o...

S.Korea’s births fall to record low in February

South Korea's births fell to a fresh low in February in 2023. The number of deaths decreased, but the population continued to decline naturally for ...

S.Korea, Airbus plan to open domestic tech research center

South Korea and European aircraft maker Airbus Group will open a technology research center in the country and discuss boosting cooperation in suppl...