Lotte Card seeks to sell transportation card subsidiary

South Korea’s credit card company Lotte Card Co. is slated to sell its subsidiary Loca Mobility Corp., the second-largest public transportatio...

Korea to raise tax credits on OTT content for future growth

Studio Dragon Corp., South Korea’s leading drama production house, spent 26 billion won ($18.5 million) on Vincenzo, aired in 2021, and receiv...

EV tax credits may prove detrimental to the US: EU official

The US decision to remove tax incentives for cars produced outside North America may violate World Trade Organization (WTO) provisions and could be ...

Lotte Home Shopping showcases Bellygom at Manhattan’s Pier 17

NEW YORK – Lotte Home Shopping Inc. displayed Bellygom at Manhattan’s Pier 17 on Wednesday, on the sidelines of the Korea Brand Expo in ...

Korean PM Han says EV tax credits may violate FTA rules

The US Inflation Reduction Act (IRA) appears to have violated the Free Trade Agreement (FTA) between the country and South Korea, Korean Prime Minis...

Direct lending, middle market offer resilience: NYLIM 

There is no doubt that headwinds to economic and market growth are picking up. Globally, supply chain and energy disruptions have contributed to hig...

Ford CEO heads to Korea to discuss EV tax credit with LG Energy, SK On

Ford Motor Co. Chief Executive Jim Parley will visit South Korea early next week to meet with chief executives of its battery suppliers LG Energy So...

Lotte Home Shopping to nurture Bellygom as a global character 

Lotte Home Shopping Inc. announced Thursday the company will showcase Bellygom at a New York City exhibit next week, as part of a broader plan to gr...

Lotte Card draws bid from Hana as key candidates back off

South Korea's Lotte Card Co. has drawn preliminary bids from Hana Financial Group, a leading banking group in the country, and two to three unidenti...

Lotte to invest $900 mn in Vietnam smart city project

Lotte Group, South Korea’s fifth-largest conglomerate, is set to invest $900 million in Vietnam to establish a smart city as it aims to accele...

Precision Biosensor enters Italy with chemical test kits

South Korea’s diagnostic devices supplier Precision Biosensor Inc. has signed an export contract with Italian medical device company Borden Ch...

Korean big-box stores see credit rating downgrades

Two credit rating agencies have lowered South Korean big-box retail giants’ credit profiles. Korea’s top three big-box stores, Homeplus ...

South Korea’s Shinhan launches credit card in Vietnam

South Korea’s Shinhan Card Co. launched its first credit card in Vietnam to expand its business portfolios into overseas markets as the sector...

Washington, Seoul to hold formal talks on US EV tax credit act

WASHINGTON D.C. – South Korea and the United States have agreed to launch formal negotiations over ways to address the negative impacts of the...

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 ...

Shinhan Card ties up with FiscalNote for global data biz

Shinhan Card Co. has joined forces with US legal data and analytics company FiscalNote Holdings Inc. to expand its data business into the global mar...

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’s Chung rolls up sleeves to counter US EV tax credit act

Hyundai Motor Group Chairman Chung Euisun is off to the US to meet government officials and business leaders as the recently passed Inflation Reduct...

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...

SK, SABIC to invest $150 mn to boost Korean capacity

SK Geo Centric Co. and Saudi Basic Industries Corp. (SABIC) have agreed to co-invest 200 billion won ($150 million) to increase their production of ...

Korean chip exports to China rise thirteenfold in 21 years

China was South Korea’s top semiconductor buyer, purchasing 39.7% of overall Korean chip exports in 2021. The percentage increased 13 times ...

Tesla sweeps local EV subsidies as Korean firms at disadvantage in US

Tesla Inc. and other US electric vehicle makers are enjoying strong sales in South Korea thanks to government subsidies while the revised US EV tax ...

Lotte Chem swings to red in Q2, hard hit by Malaysian unit's loss

South Korea’s major petrochemical producer Lotte Chemical Corp. faced an earnings shock in the second quarter of 2022, hard hit by the perform...

LG Chem, ADM to build two bioplastics plants in Illinois

LG Chem Ltd., South Korea’s largest chemicals maker, said on Tuesday it has signed an agreement with Archer Daniels Midland Co. (ADM), a globa...

European direct lending offers investment edge: Permira

The direct lending market is garnering investor attention as it has performed well during periods of market volatility. As banks are cautious to t...

Seoul says US tax credit bill risks violation of FTA, WTO

South Korea has conveyed concerns to the US about its legislative move to remove tax credits from electric vehicles produced outside of North Americ...

Conglomerates lead loan growth to record high in July

South Korea's large business groups led a sharp increase in bank lending in July, driving the corporate bank loan growth to a record high, central b...

Lotte Chilsung to tie up with startups for vegan drinks

South Korea’s Lotte Chilsung Beverage Co. is set to start the vegan business along with local startups as veganism, or the practice of abstain...

US private equity giant Apollo making inroads into Korea

Apollo Global Management Inc., a US private equity powerhouse, is set to launch a credit business in South Korea, aiming for the local private lendi...