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...

Lotte Group to donate $10.4 mn to KAIST to build R&D, design centers

Lotte Corp. announced on Monday that it will donate 14 billion won ($10.4 million) to the prestigious Korea Advanced Institute of Science and Techno...

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...

Korea wins $2.25 bn deal to build Egypt's 1st nuclear power plant

Korea Hydro and Nuclear Power Co. (KHNP) has received a 3 trillion won ($2.25 billion) order to construct turbine islands under the El-Dabaa nuclear...

Korea's NPS commits to Blackstone's ESG credit platform

The National Pension Service (NPS) of South Korea, has committed capital to Blackstone Credit’s Sustainable Resources Platform to enhance the ...

Hyundai Elevator logs first quarterly loss since 1996

Hyundai Elevator Co., South Korea’s No. 1 elevator producer, swung to a quarterly operating loss for the first time since it was listed on the...

SoftBank-backed Tridge becomes South Korea’s first agriculture unicorn 

South Korea’s agriculture and food trading platform Tridge Co. announced Thursday that it raised 50 billion won ($37.4 million) from DS Asset ...

Lotte to support Korean SMEs via exhibitions in Berlin, New York

Lotte Group, South Korea’s fifth-largest conglomerate, is set to boost the global sales channels of some 200 Korean small and medium-sized ent...

Ediya to re-enter global café market with first branch in Guam

South Korea’s homegrown coffee chain Ediya Coffee is ready for re-entry into the global café market after the failure of its Chinese bu...

Korea targets Tesla, imported EVs with new subsidy policy

South Korea is planning to set up a new subsidy policy for electric vehicle purchases, which will be commensurate to the EV makers’ after-sale...

Samsung to spend $74 bn on chip production lines in Korea

Samsung Electronics Co., the world’s top memory chipmaker, is expected to invest some $74 billion to expand semiconductor production capacity ...

North Korea dismisses South Korea’s move to improve ties as ‘absurd dream’

SEOUL—South Korean President Yoon Suk-yeol sought to shake up frothy inter-Korean ties on Monday with what he called an “audacious plan....

Hyundai IONIQ 6 logs record pre-orders in South Korea

Hyundai Motor Co., South Korea’s top automaker, announced on Tuesday that its first fully electric sedan IONIQ 6 is enjoying record pre-orders...

Korea may file complaint with WTO against US' Inflation Reduction Act

The South Korean government is considering filing a complaint with the World Trade Organization (WTO) over the US' new Inflation Reduction Act (IR...

Korea’s mounting trade deficit knocks won to 13-year low

South Korea’s won has hit the weakest level since the 2008-09 global financial crisis on a mounting trade deficit while growing concerns over ...

GM Korea’s outlook gloomy without EV production

General Motors Co. is unlikely to produce electric vehicles in South Korea as it aims to maximize the benefit of the US government’s tax credi...

Korea Inc. cuts factory runs, capex on record inventory

Samsung Electronics Co. and other major South Korean companies have reduced their plant operations and capital expenditures as weakening demand amid...

Korea's SD Biosensor to supply diagnostics kits to Japan in H2

SD Biosensor Inc., South Korea’s leading in-vitro diagnostics company, has signed an agreement to supply its COVID-19 self-test kits and other...

POSCO gains huge dividend from Roy Hill mine in H1

When South Korea’s leading steelmaker POSCO Group acquired a 12.5% stake in Australia’s Roy Hill mine for 1.52 trillion won ($1.2 billio...

LG, KT join forces to launch next-generation service robots

South Korea’s leading telecommunications company KT Corp. has partnered with LG Electronics Inc. to develop and launch next-generation custome...

S. Korea's digital asset exchange operators bulk up despite crypto winter

Despite being in crypto winter, or a period in which prices of major cryptocurrencies have slid and stayed low for weeks on end, South Korea's bigge...

Remote work, small offices revive S.Korea's printer market

South Korea’s printer market has been recovering from a long slump as the rise of remote work and small or home offices has revived demand for...

KIC appoints Lee Hoon as CIO and Jung Ho-seok as CRO

Korea Investment Corporation (KIC) said on Wednesday it has promoted Lee Hoon, its former head of investment strategy and innovation division, to th...

Celltrion Healthcare logs record-high Q2 revenue on back of Remsima

Celltrion Healthcare Co., South Korean biopharmaceutical giant Celltrion Inc.’s global marketing affiliate, posted its record-high second-quar...

Korea's Hanmi Semiconductor releases new glass micro saw

Hanmi Semiconductor Co., South Korea’s leading chip equipment maker, has launched a ‘full automation glass micro saw' dubbed GL2101 and ...

Seoul National University to set up first overseas campus in Vietnam

Seoul National University (SNU), South Korea’s top-ranked higher education institution, is pursuing the setup of its first overseas campus in ...

Korea's NPS upped alternative investment by 33% in 2021

The National Pension Service (NPS) of South Korea committed 204.4 trillion won ($156.7 billion) to alternative investment as of end-2021, up 32.7% f...

Hyundai to set up AI robotics R&D center near Boston

South Korea’s Hyundai Motor Group will set up an artificial intelligence research center in the Boston area to develop AI-driven robotics tech...