Singapore's CDL buys Nine Tree hotel in Seoul for $107 mn

Singapore-based major real estate firm City Developments Ltd. (CDL) has bought Nine Tree Premier Hotel Myeongdong II from South Korea’s Shinha...

Seoul preps to launch ferry service for tourists, commuters

The city of Seoul plans to launch a ferry service in 2024 as authorities in the South Korean capital vie to draw more foreign tourists and ease comm...

Korean-style smart city to be introduced in Ukraine's Uman

The South Korean government has decided to support the development of a smart city in Uman located in central Ukraine. The Ministry of Land, Infrast...

3rd-gen. corporate succession in S.Korea slashes stake from 100% to 16%

South Korea's business sector is urging reform of the domestic inheritance tax system to alleviate problems in corporate succession, citing difficul...

EU’s new battery act comes with caveats; headache for Samsung, Apple

The European Union’s decision to go greener with batteries that cut carbon emissions and promote recycling comes with a few caveats, posing a ...

Affirma Capital’s Korean MD Thomas Shim promoted to partner

Global private equity firm Affirma Capital has promoted Seoul-based Managing Director Min Hyun (Thomas) Shim to partner, investment banking sources ...

K-content makers to list on Nasdaq via $610 mn SPAC deal

Seven South Korean content makers are set to list on the Nasdaq through a $610 million merger deal with a special purpose acquisition company (SPAC)...

India rises as LG's cash cow under revised S.Korean tax laws

South Korea’s LG Electronics Inc. has received nearly 600 billion won ($470 million) in dividends from its overseas operations in the first qu...

S.Korea's Seegene to share tech with Spanish diagnostics company

South Korea's in vitro diagnostic product maker Seegene Inc. on Wednesday said it signed a technology-sharing agreement with the Barcelona, Spain-ba...

Seoul is fourth most searched global city for summer travel: survey

The South Korean capital of Seoul is surging in global popularity as a summer travel destination amid the first peak summer season since COVID-19 we...

CJ to open pop-up Korean restaurant for promising chefs in Seoul

South Korean food giant CJ CheilJedang Corp. in the second half of the year will open a pop-up Korean restaurant for up-and-coming chefs on the upsc...

KT to start outdoor robot delivery in Seoul from Q4

South Korea’s KT Corp. from the fourth quarter will start outdoor robot delivery of food and daily necessities in Seoul’s upscale distri...

Hyundai, SK battery JV may receive up to $700 mn in US grants

Hyundai Motor Co. and SK On Co. could receive up to $700 million in US tax breaks and grants for their electric vehicle battery plant under construc...

Korean Air says it can conclude Asiana takeover via big concessions

The head of Korean Air Lines Co. has expressed confidence over the airliner's proposed acquisition of Asiana Airlines, saying, "We will make it happ...

Samsung Electronics makes 17-fold gains from investment in ASML

Slightly more than a decade ago, ASML Holding N.V. had to reach out to its customers such as Samsung Electronics Co., Intel Corp. and Taiwan Semicon...

Germany's real estate mezzanine market to shine in 2023: Lenwood Capital

The global real estate market is under significant pressure due to increased interest rates and banks' tighter loan standards in 2023. Commercial re...

POSCO to comply with IRA rules to access battery tax breaks: chairman

NEW YORK – POSCO Group, which owns South Korea’s largest steelmaker, has been striving to transform into a low-carbon conglomerate by sh...

SK Networks eyes partnership with US-based Bow Capital

SK Networks Co., a South Korean trading company, is seeking to form a partnership with Silicon Valley-based venture capital firm Bow Capital to dive...

Lotte to open Silicon Valley corporate venture capital unit

Lotte Group, a South Korean retail-to-chemical conglomerate, is set to launch a corporate venture capital (CVC) business in Silicon Valley, the glob...

S.Korean karaoke machine leader TJ Media enjoys post-pandemic boom

South Koreans’ love for singing is no secret, and with the lifting of social-distancing rules in the post-pandemic era their suppressed desire...

CJ Bioscience conducts paid-in capital increase of $50 mn

South Korea's CJ Bioscience Inc., a pharmaceutical company specializing in intestinal microorganisms called microbiomes, will conduct a paid-in capi...

SK Hynix seeks to raise $373 million as chip recovery looms large

SK Hynix Inc., the world’s second-largest memory chipmaker, is seeking to raise as much as 500 billion won ($373 million) in bank loans to sec...

S.Korean growth outlook dims on increased trade deficit

South Korea’s exports are on course to drop for the eighth consecutive month as they declined in the first 10 days of May, data showed on Thur...

S.Korea advised to slash corporate inheritance tax to 30%

South Korean entrepreneurs are imposed heavy inheritance taxes of up to 60% to hand down wealth to their children, the highest level among Organizat...

Hyundai Motor, Kia to receive 25% tax credit for EV plant spending

ULSAN, South Gyeongsang Province – South Korea’s Hyundai Motor Co. is poised to receive a 25% tax credit for its planned investment in a...

Korean AI developers scurry to jump on generative AI bandwagon

AlphaGo was behind the first artificial intelligence shock in South Korea after its landslide victory in a Go match against the country’s lege...

Elon Musk reaffirms Korea among top candidates for Asia Gigafactory

WASHINGTON, D.C. – Tesla Inc. Chief Executive Elon Musk said on Wednesday that South Korea is still among its top candidates to build another ...

S.Korean gov’t to export domestic tax service system abroad

South Korea's National Tax Service (NTS) is looking to export its world-renowned electronic tax administration system after successfully implementin...

Hanwha Aerospace invests in Israeli startup with anti-jamming tech

South Korea's Hanwha Aerospace Co. has invested in an Israeli start-up possessing anti-jamming technology to prevent interference in global position...

Blockchain game startup Gomble gets seed round

South Korean blockchain gaming startup Gomble announced on Monday that it has successfully secured its first institutional investment. The seed fund...