Hyundai Glovis receives $1.6 bn order from global carmaker

Hyundai Glovis announced on Wednesday that it received an order worth 2.2 trillion won ($1.6 billion) from a global carmaker, a record-high vehicle ...

S.Korea in for longest monthly trade deficit spell in 25 yrs

South Korea is poised to report a trade deficit for a sixth straight month in September, which would mark its longest period of trade shortfalls in ...

Hedge funds’ speculative trade blamed for won’s drop: Dealers

Global hedge funds’ bet on further weakness in the won is blamed for the accelerated decline in the South Korean currency value against the do...

Korean grocery delivery platform Oasis starts IPO process

South Korea’s grocery delivery platform Oasis Corp. filed for preliminary IPO screening to Korea Exchange on Sept. 7. The firm is aiming to li...

Korean shipbuilders yield No.1 spot to Chinese rivals

South Korean shipbuilders yielded their No. 1 position to Chinese rivals in August, according to Clarkson Research on Tuesday, as they shifted towar...

About 1,000 attend Upbit Developer Conference preliminary events

South Korea’s unicorn startup Dunamu Inc. hosted two preliminary events for the Upbit Developer Conference (UDC) scheduled for later this mont...

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&...

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&...

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 Elevator logs first quarterly loss since 1996

Hyundai Elevator Co., South Korea’s No. 1 elevator producer, swung to a quarterly operating loss for the first time since it was listed on the...

Samsung to spend $74 bn on chip production lines in Korea

Samsung Electronics Co., the world’s top memory chipmaker, is expected to invest some $74 billion to expand semiconductor production capacity ...

Korea’s mounting trade deficit knocks won to 13-year low

South Korea’s won has hit the weakest level since the 2008-09 global financial crisis on a mounting trade deficit while growing concerns over ...

DSME delays $1.7 bn interest payment to Export-Import Bank

Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) is facing harsh criticism that it has benefited from delaying...

SK taps Korean PE for $1.5 bn after Carlyle's Lee quit

SK On Co. has turned to domestic private equity firms to raise up to 2 trillion won ($1.5 billion) after talks with four big global funds have dried...

Remote work, small offices revive S.Korea's printer market

South Korea’s printer market has been recovering from a long slump as the rise of remote work and small or home offices has revived demand for...

Korea trade deficit jumps as chip exports fall on Aug. 1-10

South Korea suffered from a larger trade deficit in the first 10 days of the month as semiconductor exports declined on weaker demand for memory chi...

Conglomerates lead loan growth to record high in July

South Korea's large business groups led a sharp increase in bank lending in July, driving the corporate bank loan growth to a record high, central b...

Korean shipbuilder KSOE wins $1.5 bn order for 7 LNG carriers

Korea Shipbuilding & Offshore Engineering Co. (KSOE), the intermediate holding company of the world’s top shipbuilder Hyundai Heavy Indust...

Naver Band celebrates 10-year anniversary, over 6.1 billion posts

South Korea’s tech juggernaut Naver Corp. announced Monday that its Naver Band celebrates 10 years in service with more than 156 million app d...

US private equity giant Apollo making inroads into Korea

Apollo Global Management Inc., a US private equity powerhouse, is set to launch a credit business in South Korea, aiming for the local private lendi...

US private equity giant Apollo to make inroads into Korea

Apollo Global Management Inc., a US private equity powerhouse, is set to start the credit business in South Korea, aiming for the local private lend...

Korea’s Big Three shipbuilders in red despite growing order backlog

South Korea’s three major shipbuilders remain in the red despite hefty new ship orders so far this year, led by high-priced vessels such as li...

KT ups ante with $1.5 billion spending on public sector cloud service

KT Cloud Corp., a unit of South Korea’s telecom giant KT Corp., plans to spend up to 2 trillion won ($1.5 billion) over the next three years t...

MBK in talks to buy Korea's top online education firm MegastudyEdu

MBK Partners, one of Asia's largest private equity firms, is in exclusive talks to acquire Korea’s top online education company MegastudyEdu C...

Korea's top mobile game Odin creator Lionheart eyes IPO in H2

Lionheart Studio Corp., South Korea’s leading game developer behind the mobile game Odin, has begun the process to go public with its July 22 ...

Five startups join the ranks of unicorns in the first half of this year

Five South Korean startups joined the ranks of unicorns in the first half of 2022, the largest such figure for six months. With that, the total...

KAI targets to sell 1,000 units of FA-50 light attack aircraft worth $30 billion

Korea Aerospace Industries Ltd., South Korea’s sole military aircraft manufacturer, is seeking to sell 1,000 units of the FA-50 light combat a...

Online study assistant operator Bebridge receives $1.9 mn in pre-Series A

South Korean startup Bebridge Inc. announced Thursday it raised 2.5 billion won ($1.9 million) in pre-Series A round from Magna Investment, Bluepoin...

Samsung SDI to build new battery plant in Malaysia by 2025

South Korea’s battery manufacturer Samsung SDI Co. held a groundbreaking ceremony for Plant 2 to make cylindrical batteries in Seremban, Mal...

SK Square makes its first exit seeking new target firms

South Korean investment firm SK Square Co. has sold all of its shares in Korean biotech NanoEntek Inc., a 28.4% stake, for 58 billion won ($44.3 mil...