CJ Foodville sees record-high operating profit in 2023

CJ Foodville sees record-high operating profit in 2023

CJ Foodville, the food service subsidiary of South Korea's CJ Group and the operator of bakery chain brand Tous les Jours saw a record-high operatin...

Hanatour makes turnaround through restructuring, premium packages

Hanatour makes turnaround through restructuring, premium packages

When IMM Private Equity Inc. acquired a 16.68% stake in South Korea’s top travel agency Hanatour Service Inc. for 128.9 billion won ($95.7 mil...

Hyosung TNC to invest $1 bn in new bio-fiber plants in Vietnam

Hyosung TNC to invest $1 bn in new bio-fiber plants in Vietnam

Hyosung TNC Corp., the world’s top spandex maker, plans to invest $1 billion in new bio-textile materials plants in Vietnam to accelerate its ...

KOTRA operates S.Korea's pavilion at Vietnam Expo

KOTRA operates S.Korea's pavilion at Vietnam Expo

The Korea Trade-Investment Promotion Agency (KOTRA) announced on Wednesday that it has operated the South Korean Pavilion at the 2024 Vietnam Expo, ...

Hanwha, 1st Korean insurer to earn dividends from overseas unit

Hanwha, 1st Korean insurer to earn dividends from overseas unit

Hanwha Life Insurance Co. is set to earn dividends from its Vietnamese subsidiary, reporting a cumulative profit after 15 years, becoming South Kore...

Avalve to export $1.5 mn smart farm solution to Vietnam

Avalve to export $1.5 mn smart farm solution to Vietnam

South Korea's smart farm startup Avalve announced on Friday that it signed a total of $1.5 million in memorandums of understanding (MOUs) with Vietn...

LG CNS to lead digital transformation at FPT in Vietnam

LG CNS to lead digital transformation at FPT in Vietnam

LG CNS Co., an information technology service company under South Korean conglomerate LG Group, will lead the digital transformation of FPT Group, a...

E-Mart offers voluntary retirement after 2023 loss

E-Mart offers voluntary retirement after 2023 loss

E-Mart Inc., South Korea’s largest supermarket chain, has launched a company-wide early retirement program for the first time in its 31-year h...

OCI to supply $700 mn polysilicon to Trina Solar

OCI to supply $700 mn polysilicon to Trina Solar

South Korea's OCI Holdings Co. announced on Monday that its Malaysian subsidiary OCIM Sdn Bhd signed a long term supply agreement for solar-grade po...

E-Mart's credit rating drops on weak retail earnings

E-Mart's credit rating drops on weak retail earnings

The credit rating of E-Mart Inc., South Korea’s top hypermarket chain operator, was downgraded to AA- by local agency NICE Information Service...

Korean savings banks swing to loss after 9 years

Korean savings banks swing to loss after 9 years

South Korea’s savings banks turned to the red after nine years in 2023 as they put aside heavy reserves on future loan losses, with their loan...

SK Ecoplant, Vietnam’s BCGE tie up for 700 MW wind, solar projects

SK Ecoplant, Vietnam’s BCGE tie up for 700 MW wind, solar projects

SK Ecoplant Co., a South Korean construction engineering and waste management company, said on Friday it has agreed with BCG Energy (BCGE), a wholly...

KIDI to build insurance infrastructure in Vietnam

KIDI to build insurance infrastructure in Vietnam

The Korea Insurance Development Institute (KIDI) announced on Friday that it signed a business agreement with the Vietnam Insurance Development Inst...

Korea fines Doosan Enerbility $12 mn for improper bookkeeping

Korea fines Doosan Enerbility $12 mn for improper bookkeeping

South Korea’s top financial regulator said on Wednesday it will fine local major power plant builder Doosan Enerbility Co. 16.1 billion won ($...

Korea's Shinhan, Hana accelerate overseas push after record profits

Korea's Shinhan, Hana accelerate overseas push after record profits

South Korean major banks aim to accelerate their expansions in other countries as their overseas investments paid off with record profits last year ...

NPS to veto adding Hyosung chair, vice chair to board

NPS to veto adding Hyosung chair, vice chair to board

The National Pension Service (NPS) will veto the appointment of the chairman and vice chairman of Hyosung Corp. as inside board members of the de fa...

S.Korea commercializes recycled materials EV tire

S.Korea commercializes recycled materials EV tire

South Korea's Hyosung Advanced Materials, SK Chemicals Co., and Hankook Tire & Technology announced on Mar. 6. that they commercialized a dedica...

LG Display to raise $971 mn in rights offering for OLED business

LG Display to raise $971 mn in rights offering for OLED business

LG Display Co., the world’s leading manufacturer of organic light-emitting diode (OLED) panels, said on Monday it will raise 1.29 trillion won...

Korean banking groups see record-high loan losses in 2023

Korean banking groups see record-high loan losses in 2023

South Korea’s top four financial services groups – KB, Shinhan, Hana and Woori -- booked 1.97 trillion won ($1.5 billion) of loans as lo...

KEPCO narrows losses with 2nd straight quarterly profit

KEPCO narrows losses with 2nd straight quarterly profit

South Korea’s power utility Korea Electric Power Corp. (KEPCO) on Friday posted its second straight quarterly profit, sharply above market for...

Norway’s prime office value drop hits Korean retail investors

Norway’s prime office value drop hits Korean retail investors

A South Korean real estate fund is set to post a 100% loss as the value of its sole asset, a prime office building wholly leased to Norway’s l...

Studio Meta-K, Vietnam’s Synapse Studio to co-work for virtual human

Studio Meta-K, Vietnam’s Synapse Studio to co-work for virtual human

South Korea’s content production startup Studio Meta-K announced on Wednesday that it signed a memorandum of understanding (MOU) with Vietna...

Global property market plunge hits Korean financial firms

Global property market plunge hits Korean financial firms

South Korean financial service companies are seeing increased losses in global real estate amid the commercial property value plunge and concerns ar...

BBQ opens delivery store in Vietnam

BBQ opens delivery store in Vietnam

BBQ, a popular South Korean fried chicken brand announced on Friday that it opened its first delivery and takeout store in Vietnam.The store is at V...

Hypermarket chain E-Mart posts first annual loss in 2023

Hypermarket chain E-Mart posts first annual loss in 2023

South Korea’s top supermarket chain E-Mart Inc. announced on Thursday that it provisionally recorded a consolidated operating loss of 46.9 bil...

EcoPro’s 2023 profit halves on softer EV demand, materials prices

EcoPro’s 2023 profit halves on softer EV demand, materials prices

South Korea’s major battery materials company EcoPro Co. saw last year’s operating profit halved from the previous year after a steeper-...

Delays in court rulings raise business risks for South Korean companies

Delays in court rulings raise business risks for South Korean companies

Less than five years ago, Invossa, a cell and gene therapy for osteoarthritis, was expected to hit the global market with great fanfare.Developed by...

CJ Logistics, Saigon Co.op form partnership in Vietnam

CJ Logistics, Saigon Co.op form partnership in Vietnam

South Korea’s CJ Logistics announced on Wednesday that it has formed a strategic partnership with Vietnamese state-owned retail chain giant ...

No annual bonuses for Samsung chip unit due to loss

No annual bonuses for Samsung chip unit due to loss

Samsung Electronics Co., the world’s top memory chipmaker, decided not to pay annual bonuses to staff of its semiconductor business due to the...

Hyosung Advanced Materials' operating profit down 45% in 2023

Hyosung Advanced Materials' operating profit down 45% in 2023

Hyosung Advanced Materials announced on Monday that its operating profit for last year on a consolidated basis was 172.4 billion won ($129 million),...

Saudi Crown Prince bin Salman courts Korean AI startups as Riyadh, Abu Dhabi vie to build tech hubs K Shipbuilding up for sale as Korean shipyards ride new boom Samsung to buy US health tech firm Xealth in digital health push Korean waste management firm Koentec put on market for $730 mn US unveils 25% tariffs on S.Korea, sets Aug. 1 deadline for agreement