South Korea set to abolish financial investment gains tax: Yoon

South Korea plans to abolish capital gains taxes on financial investments to revitalize the lackluster domestic financial market and help individual...

Samsung Heavy wins $1.5 bn order for FLNG

South Korea's shipbuilder Samsung Heavy Industries announced on Tuesday that it has secured an order for one floating liquefied natural gas (FLNG) p...

Samsung eyes $8.8 billion 2024 chip profit: sources

Samsung Electronics Co. seeks to rake in 11.5 trillion won ($8.8 billion) in operating profit from its semiconductor business this year, swiveling f...

Foreign net buying of Samsung Elec at record high in 2023

Foreign investors turned net buyers of Samsung Electronics Co. in 2023, reversing their selling spree of the stock over past three years, as the sem...

Samsung, SK Hynix join forces with foreign rivals to win AI chip war 

South Korea’s two chip giants Samsung Electronics Co. and SK Hynix Inc. are expected to further deepen ties with rivals and customers from aro...

S.Korean refiners’ race for EV lubricants heats up

South Korean major refiners are upping the ante to win the market for electric vehicle lubricants and liquid coolants for heat management amid the r...

CJ CheilJedang opens online B2B section

South Korean food giant CJ CheilJedang Corp. introduced a business-to-business (B2B) section CJ The Market for Biz on its e-commerce website CJ The ...

Korea to sell $3.6 bn stake in NXC via private offering

The South Korean government is seeking to sell a 4.71 trillion won ($3.6 billion) stake in gaming giant NXC Corp. via private placement as the autho...

S.Korea to allow hiring of foreign workers in hotels, resorts

The South Korean government said on Friday that it would grant the hiring of foreign workers in hotels and resorts from next year.The hotel and reso...

Korea to domestically develop air-to-air missiles for KF-21

South Korea plans to develop short-range, air-to-air missiles to be mounted on the Korean fighter KF-21 with homegrown technology by 2035 in a 591.9...

Korea's KDB establishes innovation fund for auto parts companies

The state-run Korea Development Bank (KDB) announced on Friday that it has established the KDB-Quantum Mobility Value Chain Open Innovation Fund wor...

Korea’s consumer inflation reaches 3.6% in 2023 on high utilities

South Korea’s consumer prices rose 3.6% this year, driven by the biggest jump in utility bills since 2010 and high inflation in agricultural p...

Hyundai Mobis' auto parts sweep safety, technology awards

South Korean auto parts maker Hyundai Mobis Co. said Thursday that 10 of its new technologies received or or are finalists for awards from external ...

South Korea eyes new Arab boom via free trade deal with GCC nations

South Korea has struck a free trade agreement with the Gulf Cooperation Council (GCC), a group of six Arab nations, paving the way for Seoul to stre...

Foreign visitors to S.Korea to surpass 10 mn in 2023

The number of foreign tourists visiting South Korea will exceed 10 million this year, according to the Korea Tourism Organization (KTO). Accordi...

Taeyoung files for debt workout; offers to sell stake in KKR JV

South Korea’s Taeyoung Group, saddled with 5.6 trillion won ($4.4 billion) in debt and loans it has guaranteed, filed for a debt workout progr...

Samsung to unveil AI-feature vacuum cleaner at CES

Samsung Electronics Co. announced on Thursday that it will unveil a new vacuum cleaner, the Bespoke Jet Bot Combo, at the upcoming CES 2024. This ...

Samsung Elec moves a step closer to CXL commercialization

Samsung Electronics Co. seeking to lead the next-generation memory market has moved a step closer to commercializing computer express link (CXL)-bas...

S.Korea's perfume duty free limit to rise by 100 ml in 2024

South Korean government will raise the duty-free limit of perfume from 60 ml to 100 ml in January 2024. The Ministry of Economy and Finance announce...

KAI secures $1.1 bn deal to mass-produce light-armed helicopters

Korea Aerospace Industries Ltd. (KAI), the sole military aircraft manufacturer in the country, announced on Wednesday that it has signed a contract ...

POSCO to foster rare gas business with Zhongtai Cryogenic

POSCO Holdings Inc. will build a highly purified rare gas-producing joint venture in South Korea with Zhongtai Cryogenic Technology Corp. from China...

Korea's leading used-car platform Encar drops IPO plan

Encarsales.com Ltd., a South Korean used-car trading platform, will withdraw its initial public offering plan as early as this week due to deteriora...

This country will police ‘shrinkflation’ at the supermarket

SEOUL—Food prices have risen so much that Kim Soo-yeon has developed a suspicious new habit at the grocery store. She has taken to shaking bag...

Samsung to release Galaxy Book3 Go 5G laptop

Samsung Electronics Co. will release the Galaxy Book3 Go 5G laptop, which supports 5G networks on Jan. 2. Next year.The device features a 14-inch LC...

Korea’s besieged mobile carriers grapple with OTT players’ rate hikes

South Korea’s telecommunications companies, besieged by the onslaught of foreign over-the-top (OTT) players such as Netflix and YouTube, are g...

Samsung Heavy wins $240 mn order for two VLACs

South Korea's shipbuilder Samsung Heavy Industries Co. announced on Tuesday that it has won a 310.8 billion won ($240 million) order for two very la...

SGC eTEC E&C wins $160 mn plant order in Malaysia

South Korea's SGC eTEC E&C Co. said on Tuesday it has won a 204.7 billion won ($158 million) order to build epichlorohydrin (ECH) and chlor-alka...

BNP Paribas, HSBC fined $20.4 million in Korea for naked short-selling

South Korea’s financial regulator has slapped a combined 26.52 billion won ($20.4 million) in fines on BNP Paribas SA, its Korean brokerage un...

LegoChem Bio, Janssen sign $1.7 bn ADC licensing deal

LegoChem Biosciences Inc. has signed a blockbuster $1.7 billion deal to license out its proprietary antibody drug conjugate (ADC) candidate to Jasse...

ESR KendallSquare REIT leads Korean logistics sector

ESR KendallSquare REIT, overseeing 18 advanced logistics centers across South Korea, adeptly handled challenges in the real estate sector this year....