KT to join MBK, IMM in Megazone Cloud's $400 mn funding

KT to join MBK, IMM in Megazone Cloud's $400 mn funding

KT Corp., South Korea's No. 2 telecom operator, has decided to invest 130 billion won ($110 million) in Megazone Cloud Corp., the country's largest ...

PI Advanced up for sale in deal estimated at $1 bn

PI Advanced up for sale in deal estimated at $1 bn

Seoul-based Glenwood Private Equity is putting a majority stake in South Korea's PI Advanced Materials Co., the world's largest polyimide (PI) film ...

HMM returns to annual profit in a decade as stake sale looms

HMM returns to annual profit in a decade as stake sale looms

HMM Co., South Korea’s largest container line, returned to an annual profit for the first time in a decade, boosted by higher freight rates an...

Korea’s YNCC shuts petrochem plant after explosion kills four

Korea’s YNCC shuts petrochem plant after explosion kills four

YEOSU, South Jeolla Province -- Yeochun NCC (YNCC) Co., South Korea’s major petrochemical producer, shut down one of its plants on Friday afte...

Korea’s 2021 current account surplus misses BOK forecast

Korea’s 2021 current account surplus misses BOK forecast

South Korea’s current account surplus last year missed the central bank’s forecast as higher raw materials prices boosted imports of Asi...

Korea corporate borrowing costs jump to 8-year peaks

Korea corporate borrowing costs jump to 8-year peaks

South Korean companies suffered from surging financing costs as corporate bond yields shot to eight-year highs. Affiliates of major conglomerates wi...

Singapore approves Korean Air-Asiana combination

Singapore approves Korean Air-Asiana combination

Singapore’s antitrust authority approved the integration of Korean Air Lines Co. and Asiana Airlines Inc., paving the way for South Korea&rsqu...

Korea bond yields near four-year highs on extra budget

Korea bond yields near four-year highs on extra budget

South Korea’s government bond yields jumped to their highs in almost four years as lawmakers sought to raise a supplementary budget to up to $...

LG Energy, LG Chem deliver record results in 2021

LG Energy, LG Chem deliver record results in 2021

South Korea's LG Energy Solution Ltd. and its parent company LG Chem Ltd. on Tuesday delivered their largest-ever results in 2021, as the increased ...

Hyundai to take fresh crack at Japan market with online EV sales

Hyundai to take fresh crack at Japan market with online EV sales

TOKYO – Hyundai Motor Co. is reentering the Japanese car market after a 12-year hiatus with its latest electric vehicles, as the growing deman...

Korea’s reopening stocks shine despite surging Omicron cases

Korea’s reopening stocks shine despite surging Omicron cases

South Korea’s reopening stocks rallied even as the local COVID-19 cases hit record-highs with the spread of the Omicron variant. Investors rai...

Construction Workers taps former Credit Union head as new CIO

Construction Workers taps former Credit Union head as new CIO

Construction Workers Mutual Aid Association (CWMA) has named Lee Seong-yeong as its new chief investment officer and is in the final stage of the no...

SK Bioscience posts record earnings driven by COVID-19 vaccines

SK Bioscience posts record earnings driven by COVID-19 vaccines

SK Bioscience Co., a biopharmaceutical unit of South Korea’s SK Group, has posted record 2021 revenue and operating profit, boosted by contrac...

Korea’s Point Mobile expands supply deal with Amazon to offline units

Korea’s Point Mobile expands supply deal with Amazon to offline units

Point Mobile Co., South Korea’s top enterprise handheld devices maker, expanded a supply deal with Amazon.com Inc. to offline units of the wor...

Korea Post to invest in overseas data centers and warehouses

Korea Post to invest in overseas data centers and warehouses

Korea Post will increase its alternative investment from 13.6 trillion won ($11.3 billion) at the end-2021 to 16.7 trillion won ($13.9 billion) in 2...

S.Korea urged to embrace nuclear power to go carbon free

S.Korea urged to embrace nuclear power to go carbon free

The topic of RE100, a multinational campaign to make a full switch to renewable energy by 2050, was brought up last week during a debate among four ...

Lotte Chemical to invest $502 mn in eco-friendly materials plants in Korea

Lotte Chemical to invest $502 mn in eco-friendly materials plants in Korea

South Korea’s Lotte Chemical Corp. is set to spend 602 billion won ($501.5 million) in building eco-friendly materials plants at one of its pe...

Mastern buys Pangyo office landmarks for $834 mn

Mastern buys Pangyo office landmarks for $834 mn

Mastern Investment Management Co., a Seoul-based real estate investment firm, has acquired Alpharium Tower I and II in Pangyo from ARA Asset Manag...

Money flows rush to safer assets in Korea

Money flows rush to safer assets in Korea

South Koreans are continuing their rush to safer assets with the balance of bank deposits, money market funds (MMFs) and cash management accounts (C...

Kakao to launch webtoon service Piccoma in France

Kakao to launch webtoon service Piccoma in France

Kakao Corp. announced Sunday that it plans to launch the European version of its webtoon subscription service in either April or May of this year....

S.Korea’s 2022 inflation may shoot to 11-year peak

S.Korea’s 2022 inflation may shoot to 11-year peak

South Korea’s inflation this year is expected to accelerate to an 11-year high, adding to expectations of further interest rate hikes later th...

The Korea Economic Daily's index set for ETF market debut

The Korea Economic Daily's index set for ETF market debut

Exchange-traded funds (ETFs) have been solidifying their position in the investment market of Korea for the past years. Individual investors in Sout...

Celltrion, Humasis to ship $300 mn COVID-19 test kits to US

Celltrion, Humasis to ship $300 mn COVID-19 test kits to US

South Korea's biopharmaceutical company Celltrion Inc. and diagnostic kit manufacturer Humasis Co. have signed contracts to supply their jointly-dev...

Netmarble shares slide on report of CJ ENM's stake sale plan

Netmarble shares slide on report of CJ ENM's stake sale plan

Shares in South Korea's leading game developer Netmarble Corp. plunged 8.7% on Thursday to end at its lowest level in more than one and a half years...

Korea's Toss targets SE Asia, Japan with super app

Korea's Toss targets SE Asia, Japan with super app

South Korea's mobile financial platform Toss is evolving from a payment service app into a full-fledged financial service provider, or a super app, ...

Korea’s record trade deficit stirs capital outflow fears

Korea’s record trade deficit stirs capital outflow fears

South Korea reported the largest trade deficit on surging raw material prices in January, string worries that capital outflows from Asia’s fou...

Hyundai, Kia post record US car sales as Japanese firms struggle

Hyundai, Kia post record US car sales as Japanese firms struggle

Hyundai Motor Co. and Kia Corp., the two automaking units of Hyundai Motor Group, saw their combined auto sales in the US rise to their highest leve...

Hanwha inks $1.7 bn K9 howitzer deal to Egypt

Hanwha inks $1.7 bn K9 howitzer deal to Egypt

Hanwha Defense Co. signed a contract to sell K9 self-propelled howitzers to Egypt on Tuesday in a deal worth over 2 trillion won ($1.7 billion.)Of t...

Viva Republica poised to become Korea’s fourth decacorn

Viva Republica poised to become Korea’s fourth decacorn

Viva Republica Inc., the operator of fintech platform Toss, is revving up for a pre-IPO. When finalized, the company will become South Korea’s...

SK Innovation not looking at listing battery unit for now

SK Innovation not looking at listing battery unit for now

South Korea’s SK Innovation Co. is not currently considering an initial public offering of its battery subsidiary, an executive said on Friday...

S.Korea to elevate science minister to deputy prime minister to lead in AI race Allianz-backed Koh Young’s brain surgery robot set for US debut by end-August Roborock’s privacy policy fuels data leak fears over Chinese goods Sale of $1.5 bn Pangyo Tech 1, overseen by Mirae Asset, draws strong bids from global PEFs Kia to make, sell China-launched EV5 in Korea to keep top spot