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...

Polo shirts, classic sports fashion sees revival in Asia

Ralph Lauren Corp., the world-renowned fashion firm that features timeless design and a classic sporty style with its trademark Polo brand, is seein...

S.Korea forecast to have world's oldest population by 2070

South Korea is expected to become the world’s most elderly country with about half of its population aged 65 or older by 2070, the government ...

Shipyards, TV plants to shut down as typhoon lands on Korea

The world’s two largest shipbuilders Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co., decided to shut down t...

KKR, Macquarie race for $728 mn stake in Korea’s KT Cloud

Global private equity giants Kohlberg Kravis Roberts & Co. (KKR) and Macquarie Asset Management are among the preliminary bidders for shares wor...

Korea PE firms to buy FCCL maker NexFlex at $463 mn

South Korean private equity firms are set to take over NexFlex Co., the country’s largest manufacturer of flexible copper-clad laminates (FCCL...

South Korea’s tech giants bolster short-form video content services

South Korea’s tech behemoth Naver Corp. is poised to strengthen its short-form content service on surging demand for video content that is les...

Korea inflation slows, but BOK may still hike interest rates

South Korea’s headline inflation eased in August for the first time in seven months on a slower rise in oil prices, but the central bank is st...

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&...

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...

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...