Number of foreign tourists visiting Korea surpasses 11 million in 2023

Number of foreign tourists visiting Korea surpasses 11 million in 2023

The number of foreign tourists visiting Korea last year exceeded 11 million, reaching 63% of the pre-COVID level, with over 1 million arrivals month...

Whisky imports hit record high in S. Korea amid falling wine interest

Whisky imports hit record high in S. Korea amid falling wine interest

Soaring highballs propelled whisky consumption to record heights in South Korea last year, while pandemic-driven interest in wine waned significantl...

Hyundai, BAIC join hands to develop China-only EV brand

Hyundai, BAIC join hands to develop China-only EV brand

BEIJING – Hyundai Motor Co. has joined hands with Beijing Motor Corp. (BAIC) to debut a new electric vehicle brand specifically tailored to Ch...

Hyundai Mobis eyes strong overseas orders again in 2024

Hyundai Mobis eyes strong overseas orders again in 2024

Hyundai Mobis Co., the world’s sixth-largest automotive parts maker, known as Mobis outside of its home South Korea, expects another strong ye...

Korea’s KIC opens Mumbai office to spur emerging market investment

Korea’s KIC opens Mumbai office to spur emerging market investment

Sovereign wealth fund Korea Investment Corporation (KIC) said on Monday it has launched its Mumbai office, establishing the state-run fund’s f...

LG Elec unveils OLED TV featuring world-renowned AI artist in US

LG Elec unveils OLED TV featuring world-renowned AI artist in US

LG Electronics Inc. collaborated with world-renowned artificial intelligence (AI) artist Stephanie Dinkins to showcase art pieces that explore commu...

Hyundai Team secures victory at 2024 WRC Monte Carlo Rally

Hyundai Team secures victory at 2024 WRC Monte Carlo Rally

Hyundai Motor Group announced on Monday that Thierry Neuville of the Hyundai team secured the first-place victory at the Monte Carlo Rally, the inau...

HD Hyundai launches world's first mega methanol-fueled container

HD Hyundai launches world's first mega methanol-fueled container

South Korean shipbuilding giant HD Hyundai Co. marked a major milestone in the maritime industry on January 28, christening the world's first mega m...

Korean battery makers fret over Tesla’s cost-cutting plans

Korean battery makers fret over Tesla’s cost-cutting plans

The South Korean battery industry is bracing for a grim market this year as Tesla Inc. is seeking every possible means to reduce costs to combat&nbs...

Korea’s next tech wave in music to mushroom culture  

Korea’s next tech wave in music to mushroom culture  

Investors on the hunt for the next big thing in South Korea explored the country’s next wave of technology at this year’s first demo day...

LG Energy leaves 2024 capex unchanged despite softer demand

LG Energy leaves 2024 capex unchanged despite softer demand

LG Energy Solution Ltd. will break through the anticipated slowdown in global electric vehicle demand this year with enhanced technology leadership ...

Hyundai Mobis sees record high performance in 2023

Hyundai Mobis sees record high performance in 2023

South Korea’s Hyundai Mobis, the world’s sixth-largest auto parts maker, reported on Friday that its revenue was 59.25 trillion won ($44...

Taihan Cable sees strong US business in January

Taihan Cable sees strong US business in January

South Korea's Taihan Cable & Solution Co. announced on Friday that it has surpassed a cumulative order in the US amount of $32 million (42.8 bil...

Korea unveils next-gen howitzer plans for defense exports

Korea unveils next-gen howitzer plans for defense exports

South Korea introduced plans for the development of next-generation self-propelled howitzers to its existing customers as the country aims to foster...

Korea needs population growth for sustainability: World Bank chief

Korea needs population growth for sustainability: World Bank chief

World Bank President Ajay Banga said on Thursday that South Korea needs to boost population growth by easing the fierce competition in education and...

Samsung flexes AI chip muscles ahead of Altman visit

Samsung flexes AI chip muscles ahead of Altman visit

Samsung Electronics Co. will go all out to win the AI chip race with its most advanced AI memory chip products, its semiconductor business head said...

Hyundai Motor, Kia: S.Korea’s highest earners, Tesla’s biggest rival in US

Hyundai Motor, Kia: S.Korea’s highest earners, Tesla’s biggest rival in US

Hyundai Motor Co. and Kia Corp., South Korea’s two largest automakers, became the country’s highest earners in 2023, buoyed by robust sa...

Daedong Gear to supply $137mn EV parts to Hyundai

Daedong Gear to supply $137mn EV parts to Hyundai

Daedong Gear Co., a powertrain subsidiary of South Korea’s Daedong Group, announced on Thursday that it has won a 183.6 billion won ($137 mill...

Hyundai Motor, SK Enmove to join forces for next-generation vehicle refrigerants

Hyundai Motor, SK Enmove to join forces for next-generation vehicle refrigerants

Hyundai Motor Group and SK Enmove Co. on Thursday signed a memorandum of understanding to collaborate in developing refrigerants for next-generation...

Lotte gets exclusive right of Bacha Coffee in S.Korea

Lotte gets exclusive right of Bacha Coffee in S.Korea

South Korea's Lotte Department Store announced on Thursday that is has secured the exclusive franchise and distribution rights for Bacha Coffee, M...

HD Hyundai, Hanwha delivers 1st of 12 container ships to HMM

HD Hyundai, Hanwha delivers 1st of 12 container ships to HMM

South Korea’s top container line HMM Co. said on Wednesday that it held a naming ceremony for HMM Garnet, a 13,000 twenty-foot equivalent unit...

Sodium-ion batteries: Attractive option for EVs as costs, supply matter

Sodium-ion batteries: Attractive option for EVs as costs, supply matter

Sodium-ion batteries (SIBs), fast emerging as the next-generation battery cells, will be up to 24% cheaper than the most affordable lithium-based ba...

Mohegan gains Korea’s 1st foreign casino license in 19 years

Mohegan gains Korea’s 1st foreign casino license in 19 years

Mohegan Gaming & Entertainment (MGE) will open a foreigners-only casino at its resort complex in Incheon, South Korea in the first quarter after...

Hyundai Wia logs $780 mn in constant velocity joint orders

Hyundai Wia logs $780 mn in constant velocity joint orders

Hyundai Wia Corp., a South Korean automotive parts manufacturer, said on Wednesday it secured 1.045 trillion won ($781 million) worth of overseas or...

Hyundai Mobis unveils human-centric lighting tech for cars

Hyundai Mobis unveils human-centric lighting tech for cars

Hyundai Mobis Co., the world’s sixth-largest auto parts maker, has introduced a system that changes car interior lights depending on a driver&...

Hyundai Motor units join hands for logistics solutions

Hyundai Motor units join hands for logistics solutions

Hyundai Motor Group’s autonomous driving technology arm 42dot Inc. has joined hands with its sister companies Hyundai Glovis Co. and Hyundai C...

HD Hyundai Oilbank to advance into N.American lubricants market

HD Hyundai Oilbank to advance into N.American lubricants market

HD Hyundai Oilbank Co., South Korean shipbuilding and machinery conglomerate HD Hyundai Co.'s oil refining unit, will venture into the North America...

S.Korea should cut inheritance, gift taxes to OECD levels: SME lobby chief

S.Korea should cut inheritance, gift taxes to OECD levels: SME lobby chief

South Korea, which imposes some of the highest inheritance and gift taxes on businesspeople among the Organization for Economic Cooperation and Deve...

Korea’s ELS market to stagnate after HSCEI debacle: KOFIA chairman

Korea’s ELS market to stagnate after HSCEI debacle: KOFIA chairman

The Korea Financial Investment Association (KOFIA) will go all out to minimize any adverse effects on the South Korean financial market from an anti...

Hyundai unveils aerodynamic tech to increase EV mileage

Hyundai unveils aerodynamic tech to increase EV mileage

Hyundai Motor Group on Tuesday unveiled an aerodynamic technology to increase electric vehicles’ mileage as the world’s third-largest au...

Korean waste management firm Koentec on market for $730 mn US unveils 25% tariffs on S.Korea, sets Aug. 1 deadline for agreement Samsung’s Q2 operating profit halves amid sluggish chip sales Samsung Heavy Industries clinches $635 mn preliminary FLNG deal with African shipowner Gochujang, fiery seasonings: K-sauces go viral among adventurous foreign palates