Surging battery material costs put roadblock to EV growth

Prices of core raw materials such as lithium and cobalt for electric vehicle (EV) batteries jumped to threaten the global auto industry’s key ...

KOGAS attempts to expand LNG bunkering as global demand grows

Korea Gas Corp. (KOGAS) aims to expand liquefied natural gas (LNG) bunkering business as global demand for cleaner fuels for ships is growing.LNG bu...

Korean Air won't sell Asiana's budget carriers post-merger

Korean Air Lines Co. (KAL) will not put Asiana Airlines Inc.'s two low-cost carriers (LCCs) up for sale after it completes its 1.8-trillion-won ($1....

Korea’s cash-rich firms issue more bonds amid low interest environment

Some of the most cash-abundant firms across different industries in South Korea are issuing large amounts of bonds to raise even more funds amid a l...

KT to raise $300 mn in dollar bond at record-low rates

KT Corp., a South Korea's telecom company, is set to raise $300 million in a dollar corporate bond at the lowest interest rate for its foreign curre...

Korean Air to issue first ESG bonds among Korean carriers

Korean Air Lines Co. will issue green bonds as part of its 200 billion won ($176 million) corporate debenture issue -- to become the first among dom...

Samsung unveils low-end 5G phone to rival China’s cheap models

Samsung Electronics Co. on Friday launched a low-end 5G smartphone in overseas markets amid intensified price competition initiated by Chinese mobil...

Heavy cost pressure set to drive up car prices

South Korea’s automakers are facing a drastic increase in manufacturing costs. Raw material prices are soaring and the global chip shortage re...

Samsung, TSMC up ante in US foundry competition

The world’s two largest foundry chipmakers, Taiwan Semiconductor Manufacturing Co. (TSMC) and Samsung Electronics Co., are upping the ante in ...

NPS shelves plan for negative screening on high emitters

The National Pension Service has shelved a plan to introduce negative screening on coal mines and relevant businesses in an aim to build a low-carbo...

RECON Labs to drive AR commerce by cutting content creation costs by up to 99%

Does the adoption of augmented reality (AR) technology in e-commerce platforms drive sales? The answer is yes, as the purchase conversion rate for p...

BOK to stop investing in low ESG scorers

South Korea’s central bank will exclude companies with low ESG ratings from its portfolio of foreign currency assets. The Bank of Korea has de...

Korean Air eyes $350 mn in cost savings from Asiana merger

Korean Air Lines Co. will retain its brand name after absorbing local rival Asiana Airlines Inc. in a span of around two years, with their merged en...

Stronger carbon stance puts cost pressure on manufacturers

South Korea’s carbon emission regulations – strengthened again this year – are projected to exert financial pressure on the countr...

SK Innovation board says no costly settlement with LG

SK Innovation Inc.’s board members on Thursday advised the South Korean electric vehicle battery maker not to pay hefty compensation for a set...

Hyundai, LG Energy agree to split EV recall costs, reflect in Q4 results

Hyundai Motor Co. and LG Energy Solution Ltd. have agreed on how to split the costs of replacing the electric vehicle batteries made by the LG Group...

Hyundai to recall some 82,000 EVs over fire risk; cost seen at $900 mn

Hyundai Motor Co. said on Wednesday that it will recall 81,701 units of its electric vehicles sold worldwide over fire risk, in a move that could co...

SK under increasing pressure for costly settlement with LG

SK Innovation Co. may brace for a billion-dollar settlement with LG Energy Solution Co., after it lost a lengthy legal battle with its hometown riva...

Renault vows action if Korean unit fails to improve productivity, cut costs

French auto giant Groupe Renault has warned of stern action against its struggling South Korean unit, urging it to improve productivity and cut cost...

Korean shipbuilders kick off 2021 with $1 bn container ship, LNG carrier orders

South Korea’s two major shipyards have started off 2021 with decent orders, brightening the outlook for the country to retain its leadership i...

Largest domestic carrier Korean Air posts Q3 surplus; peers swing negative

South Korea’s flag carrier Korean Air Lines Co. has posted an operating profit for two straight quarters thanks to robust cargo operations keepi...

Hyundai Heavy affiliate wins $375 mn order for 2 LNG carriers

Korea Shipbuilding & Offshore Engineering Co., a shipbuilding arm of Hyundai Heavy Industries Group, has won a 425 billion won ($375 million) orde...

Hyundai, Kia to reflect $2.94 bn quality costs in Q3 results

Hyundai Motor Co. and affiliate Kia Motors Corp. said on Oct. 19 that a combined 3.36 trillion won ($2.94 billion) in quality-related costs will be re...

Bank of Korea keeps rate steady at record low; signaling no further action

The Bank of Korea has left its policy rate unchanged at a record low of 0.5% as was widely expected, citing a slow economic recovery amid the ongoing ...

KB Financial to end coal project financing for low-carbon economy

KB Financial Group will no longer finance coal power projects at home and abroad, nor invest in them, said the South Korean banking group, with a set ...

Asiana Airlines converts A350 passenger jet into cargo carrier

South Korean airline Asiana Airlines Inc. has transformed its passenger aircraft A350-900 into a cargo carrier in a move to enhance its cargo operatio...

South Korean airlines convert passenger jets into cargo carriers

South Korea’s flag carrier Korean Air Lines Co. has converted its passenger plane Boeing 777-300ER into a cargo carrier to further boost ca...

KT issues $400 mn dollar-denominated bond with record-low 1% interest rate

South Korea’s telecom giant KT Corp. has set a record-low interest rate among privately-held Korean companies with the issue of a dollar-denomin...

[Interview] Blockchain technology to cut property transaction cost: Bitcoin.com CEO

“The impact of blockchain technology will not be limited within financial markets. Blockchain technology will also impact real estate transactions, sm...

[Interview] Shinhan Life eyes low-volatility investments ahead of new accounting rule

The life insurance arm of South Korea’s Shinhan Financial Group will allocate more than 90% of its assets under management to loans and bonds to...