South Korea's 2021 outbound FDI at record-high $76 bn

South Korea's outbound direct investment in 2021 soared 32.8% from the year previous to a record-high $75.9 billion, led by financial investors and ...

Lotte Confectionery to merge with Lotte Food

Lotte Group will merge its confectionery and foodstuff businesses, South Korea's fourth-largest conglomerate announced Wednesday.Lotte Confectionery...

Samsung, Hyundai amass record-high levels of cash

Major South Korean companies such as Samsung Electronics Co. and Hyundai Motor Co. have accumulated more cash than ever before amid growing uncertai...

SK tipped to be Korea's 1st group to issue digital coins

SK Square Co., the investment arm of SK Group, is working on issuing its own digital currency within the year, according to people with knowledge of...

Korea names IMF official as new central bank head

South Korea on Wednesday nominated veteran International Monetary Fund official Rhee Chang-yong as the country’s new central bank chief, who i...

Korea's hotel deals hit record-high $1.4 bn in 2021: JLL

Hotel deals in South Korea hit a record high of 1.7 trillion won ($1.4 billion) in 2021, up 80% from the previous year, said global real estate serv...

Korea's new asset managers survive with competitive edge

  Most new asset management firms in South Korea end up lagging the competition due to their smaller sizes. They suffer from operating losses ...

Korean online banks’ disruptive business model: Woo low-credit borrowers

South Korea’s three major digital banks are stepping up their credit loans to borrowers with low credit ratings, a disruptive business model s...

Acqui-hire practices increase in S.Korea’s startup ecosystem

Jobis & Villains, the operator of artificial intelligence-powered accounting platform 3.3, announced that it recently acquired video messenger s...

Korea rises as test bed for global luxury brands

South Korea is becoming a test bed for global high-end brands such as Balenciaga, Valentino, IWC and Breitling. The world's top luxury brands, pre...

Korea Hana teams up with British developer Nick Candy in Chelsea bid

South Korea’s Hana Financial Group has joined the race to buy English Premier League club Chelsea in a consortium with British property develo...

Korea to open temporary settlement lines for trade with Russia

South Korea plans to open temporary settlement lines between domestic banks and their units in Russia in order to help companies hit by multinationa...

Goldman exits Korean beauty startup without profit

Goldman Sachs has divested of its stake worth 75 billion won ($62 million) in South Korea's cosmetics startup GP Club Co. without a profit due to de...

Korean IPOs delayed after bourse's sweeping reshuffle

Scores of South Korean initial public offerings slated for the first half of this year have been delayed after the bourse operator carried out a lar...

Gucci to open world’s fourth Osteria restaurant in Seoul

Seoulites are set to enjoy Gucci’s fine-dining experience from later this month.The Italian luxury fashion house said on Wednesday it will ope...

Renault drops Samsung from brand name in Korea to end ties

Renault Samsung Motors Corp., the South Korean unit of Renault S.A., has dropped Samsung from its name as the French automaker moves to end 22 years...

Korea’s fashion OEM firms eye record sales 

South Korea’s clothing original equipment manufacturers (OEM) are set to see a supercycle or a sustained period of expansion driven by robust ...

LIG Nex1, Eugene plan $80.5 mn fund for Korea defense startups

LIG Nex1 Co., South Korea’s major defense exporter, plans to set up a $80.5 million venture investment fund with Eugene Investment & Secur...

Nine out of 10 VC heads in S.Korea say startups overvalued: Survey

Heads of South Korea’s leading venture capital firms say domestic startups have entered a phase of overvaluation. The Korea Economic Dail...

SK Geo Centric invests $55 mn in US plastic waste recycling firm

South Korea’s SK Geo Centric Co. invested $55 million in US plastic waste recycling company PureCycle Technologies Inc. in a move to transform...

POSCO to build largest solid electrolyte plant for batteries

POSCO Group, the world’s sixth-largest steelmaker, said on March 14 it has started construction on a solid electrolyte manufacturing facilit...

Poongsan, Korea Zinc to benefit from rising raw material prices

South Korea’s non-ferrous metal smelters such as Korea Zinc Co. and Poongsan Corp. are set to benefit from rising prices of raw materials in t...

Korea automakers fret over Yoon’s policy on combustion engine cars

South Korea’s automakers were on high alert as President-elect Yoon Suk-yeol pledged to ban new registrations of internal combustion engine ca...

Korea jittery over oil, gas, commodity weaponization

South Korea’s energy and raw materials imports have surged to all-time highs in value terms in the wake of Russia’s invasion of Ukraine,...

Korea reopening stocks rally as govt. eases COVID-19 restrictions

South Korea’s reopening stocks jumped on Friday as the government eases COVID-19-curbing restrictions and as the number of the Omicron variant...

Korea Hanmi to launch blockbuster hypertension drug in China

South Korea’s Hanmi Pharmaceutical Co. is set to launch its blockbuster high blood pressure drug Amosartan in China, the world’s largest...

President-elect pledges to build S.Korea as 'pivotal' global power

President-elect Yoon Suk-yeol pledges to build South Korea into what he dubs a global 'pivotal' power that contributes to freedom, peace, and prospe...

Hanwha, Poongsan, LIG Nex1 clinch $989 mn Saudi defense deals

South Korea’s three defense-related companies have signed a combined 3.71 billion Saudi riyal ($989 million) contract to supply ammunition and...

South Korea's contact lens exports surge in 2021

South Korea's contact lens brands accelerated their penetration into the global market estimated at $10 billion in 2021, thanks to the market's rebo...

S.Korea's president-elect Yoon vows deregulation, tax cuts

Former prosecutor general Yoon Suk-yeol on Wednesday was elected South Korea's next president, pledging drastic deregulation and investor-friendly m...