Ukraine war gives North Korea reasons to draw closer to Russia

SEOUL—Russia’s invasion of Ukraine has created an opportunity for North Korea, which has strengthened its ties with Moscow and beco...

Samsung leader Lee’s latest role: Special envoy for World Expo 2030 bid

As South Korea is serious about hosting the World Expo 2030, the country’s top business leaders will be given new roles: Leading the governmen...

Korea resolution on US EV incentives passes parliament

South Korea’s lawmakers on Thursday passed a resolution to officially express its concerns over the US Inflation Reduction Act (IRA) that remo...

S.Korea mulls public survey to decide on BTS' military service exemption

The issue of allowing K-pop megaband BTS to fulfill alternative service to active military duty resurfaced again on Thursday, with government offici...

Private equity firms buys shipbuilder Daehan for $150 mn

A South Korean private equity consortium has acquired Daehan Shipbuilding Co., a small-size oil tanker manufacturer, for around 200 billion won ($15...

Business magnates' startup investment fraternity V-Society going strong

Back in August 2000, a fraternity of domestic business magnates’ children and startup entrepreneurs named V-Society was founded. The frat...

Korea’s record trade deficit adds to downturn concerns

South Korea logged a record monthly trade deficit in August with the longest spree of shortfalls in more than 14 years, while domestic consumption, ...

Tikehau Capital Korea wins GP license to boost Asian operations

Tikehau Capital, a Paris-headquartered global alternative asset management group, is working hard to expand growth and its operating capacity in Asi...

Korea to increase foreign worker quota by 10,000 in 2022

South Korea is set to raise the quota of foreign workers by 10,000 this year to address labor shortage issues in the country’s shipbuilding, m...

Korea airlines to increase flights on eased COVID-19 rule

South Korean airlines plan to increase international flights by year-end as the country is set to ease the rule on COVID-19 for travelers in a move ...

Korea eyes $3.8 billion in Redback armored vehicle exports to Australia

South Korea is expected to clinch a deal to export more than 5 trillion won ($3.8 billion) worth of armored vehicles to Australia, which is strength...

S.Korea to raise nuclear power to one third of energy supply

South Korea plans to increase its proportion of nuclear power to 33% of the country’s energy generation by 2030, while slashing its proportion...

Korea's Hyundai E&C to build smart green city in Vietnam

Hyundai Engineering & Construction Co. is poised to become the first South Korean company to join Vietnam’s green smart city development p...

South Korea’s Shinhan launches credit card in Vietnam

South Korea’s Shinhan Card Co. launched its first credit card in Vietnam to expand its business portfolios into overseas markets as the sector...

Seoul ordered to fork over $230 mn to Lone Star over KEB deal

An international tribunal delivered a ruling in favor of Lone Star on Wednesday over a dispute with South Korea relating to its 3.9 trillion won ($3...

Korea to cut spending in 2023, first time in 13 years

South Korea plans to reduce spending in 2023 for the first time in 13 years by cutting pandemic-era stimulus payments in a move to curb the country&...

Korea's NPS posts 8% loss from investment in H1 2022

National Pension Service (NPS) of South Korea had an 8% negative return during the first half of 2022, its investment management arm announced on Au...

Hankook Tire to spend $1.6 bn on US plant expansion

Hankook Tire & Technology Co., South Korea’s top tire maker, will invest $1.6 billion to more than double its output in the US, the world&...

Hyundai asks US state of Georgia for more incentives

Hyundai Motor Co. discussed additional incentives on its planned electric vehicle plant in Georgia with the US state's government as the leading Sou...

Hanjin Group management rights feud resolved with aid of LX Group

LX Pantos, an LX Group affiliate, has acquired a 3.86% stake in Hanjin KAL Corp., the holding company of Hanjin Group.The LX Group is considered a k...

BOK chief: S.Korea won't keep pace with Fed’s interest rate hikes

JACKSON HOLE, Wyo. -- The Bank of Korea plans to raise interest rates until inflation falls to its target level but won't keep pace with the US Fede...

Hanwha's heir apparent promoted as group's vice chair

South Korea’s Hanwha Group promoted its petrochemical and energy unit Hanwha Solutions Corp. CEO Kim Dong Kwan as the group’s new vice c...

Lotte Group to donate $10.4 mn to KAIST to build R&D, design centers

Lotte Corp. announced on Monday that it will donate 14 billion won ($10.4 million) to the prestigious Korea Advanced Institute of Science and Techno...

Korea’s Iljin sticks to higher stake sale price than bid

Iljin Materials Co.’s sale process has reached a deadlock as its Chief Executive Heo Jae-Myeong is holding to its price to sell a controlling ...

Hyundai narrows Level 3 self-driving tech gap with Tesla to one year

South Korea’s top automaker Hyundai Motor Co. has narrowed its technology gap in Level 3 self-driving vehicles with Tesla Inc. to one year, mo...

Only 1% of car parts makers in S.Korea feel ready for transition to EVs

The automotive industry around the globe is rapidly transitioning from the manufacturing sector to the digital arena. That is, from an internal...

Hyundai’s Genesis ranks top in J.D. Power’s innovative tech study

Hyundai Motor Co.'s premium brand Genesis has been recognized by industry analysts for its excellence in innovative technology and consumer experi...

SK Group reworks 'financial story' action plans

Chief executives of South Korea’s No. 2 conglomerate SK Group are overhauling their action plans to implement the “financial story&rdquo...

Korea wins $2.25 bn deal to build Egypt's 1st nuclear power plant

Korea Hydro and Nuclear Power Co. (KHNP) has received a 3 trillion won ($2.25 billion) order to construct turbine islands under the El-Dabaa nuclear...

Korea's NPS commits to Blackstone's ESG credit platform

The National Pension Service (NPS) of South Korea, has committed capital to Blackstone Credit’s Sustainable Resources Platform to enhance the ...