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...

Seoul to run $3.9 billion fund for startups over 4 years

The local government of South Korea’s capital city Seoul this year will launch its own vision fund, dubbed the Seoul Vision 2030 Fund, to inve...

Individual investors in S.Korea betting on stock market's decline

Despite South Korea's Kosdaq stock market growing this month following the "January rally," individual investors in the country are still betting on...

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...

Samsung’s Lee may ramp up investment in QD-OLED panels

Samsung Electronics Co. may ramp up its investment in screen panel affiliate Samsung Display Co. to meet growing demand for next-generation quantum ...

Profit matters for survival of startups amid investment drought

As venture capitalists tighten their purse strings amid looming recession fears, only startups with killer products that generate profits are well-p...

S.Korea behind in ChatGPT race with zero AI unicorns

South Korea, one of the most wired countries in the world, lags far behind other countries in attaining unicorn startups in the artificial intellige...

SK Innovation steps up carbon offset, green investments

SK Innovation Co., the refinery and chemicals unit of South Korea’s second-largest conglomerate SK, is poised to strengthen its eco-friendly b...

Korea to legalize security token for fractional investment

South Korea is set to allow all kinds of fractional investments next year through the legalization of a security token (ST), a digital form of tradi...

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...

LG Group to invest $2.7 bn in decarbonization by 2030

South Korea's No. 4 conglomerate LG Corp. is set to accelerate its net zero by 2050 strategies.LG will invest 3.4 trillion won ($2.7 billion) by 203...

NPS lags global peers in 2013-2022 investment returns

South Korea's National Pension Service (NPS), the world's third-largest pension fund, has underperformed its global peers over the past decade in te...

MBK to buy Japanese nursing home and care service for $300 mn

MBK Partners, the largest private equity firm in Northeast Asia, is set to acquire Japanese senior nursing care service company Unimat Retirement Co...

S.Korea's online K Bank withdraws plan for Kospi listing

South Korea's K Bank has withdrawn its highly anticipated plan to hold an IPO this year in the judgement of a lower corporate value due to the slugg...

KB Financial Group holds investment conference via metaverse

South Korea's KB Financial Group on Tuesday presented its investment philosophy to individual and institutional customers in the metaverse, a three-...

S.Korea's MGRV attracts $10mn Series B bridge investment

MGRV Community & Space, a South Korean startup that operates co-living facilities under the brand "Mangrove," announced on Wednesday it has attr...

Hanwha Hotels & Resorts to work with Vietnam's Lodgis to expand overseas network

South Korea's Hanwha Hotels & Resorts Co., Ltd. said on Wednesday that it has signed a strategic memorandum of understanding (MOU) with Lodgis H...

SK Hynix to halve investment after posting first quarterly loss in decade

SK Hynix Inc., the world’s second-largest memory chipmaker, said on Wednesday it will significantly slash its investment for this year after p...

KISA launches ASEAN Cyber Shield project for strengthening cyber security

The Korea Internet & Security Agency (KISA) on Monday has announced the launch of the "ASEAN Cyber Shield" project, a major international cooper...

Samsung vows no chip output cut, eyes second-half demand recovery

Samsung Electronics Co. said on Tuesday it has no plans to cut semiconductor production even if it incurs temporary losses as the world’s larg...

BC Card signs strategic partnership deal with Mongolian Central Bank

South Korea's credit card issuer BC Card said on Monday that it has signed a strategic partnership deal with the Bank of Mongolia.With this collabor...

Korea's venture capital investment falls 12% last year amid downturn

South Korea's venture capital investment last year fell more than 10% from a year ago due to the economic downturn caused by a series of global rate...

A-Team Ventures succeeds in attracting $4.1 mn investment from LX

A-Team Ventures, which runs an online manufacturing platform "Capa," said on Friday that it has raised a Series B funding of 5 billion won ($4.1 mil...

Woori Bank's Vietnam subsidiary reports record-high performance

Woori Bank Vietnam, South Korean lender Woori Bank's local subsidiary in Vietnam, had heydays last year, tiding over the aftermath of the COVID-19 o...

Hyundai vows $8.5 billion investment after record 2022 sales, profit

South Korea’s top automaker Hyundai Motor Co. said on Thursday it will spend 10.5 trillion won ($8.5 billion) this year to ramp up facilities ...

'Extraordinary Attorney Woo' maker to create webtoon-based K-drama series

KT Skylife Co., a broadcasting unit within South Korean telecom behemoth KT Corp., is slated to boost its investment in intellectual property conten...

NHN Cloud joins ranks of unicorns with $120 mn funding

NHN Cloud Co., a computer clouding service provider, has raised 150 billion won ($120 million) from South Korea-based IMM Investment, joining the ra...

Hancom Carelink invests in bio big data venture 3bigs

South Korea's Hancom Carelink, a digital health care company under Hancom Group, on Wednesday said it bought an unspecified stake in the bio big dat...

S.Korea's waste recycler ReCo lands $11.8 million in investment

South Korea's startup ReCo, which runs the comprehensive waste collection and transportation service UpBox, on Wednesday said it attracted Series B ...

Bank's retirement pension soars 15% to $107 bn last year

Retirement pensions at banks in the fourth quarter of last year emerged as a haven for money that tried to generate a stable return, shunning away f...