Korean bank branch closures accelerate as online deals grow
South Korean banks are accelerating moves to close branches given the growth in digital transactions and decline in offline customers but financial ...
S.Korea to build new English disclosure system
South Korea’s Financial Supervisory Service (FSS) announced on Feb. 18 that it will broaden the scope of its English electronic disclosure ser...
S.Korean refiners’ competition in EV lubricants sector intensifies
Refiners in South Korea are in a race to expand their presence in the electric vehicle lubricants market through overseas production facilities and ...
S.Koreans flock to funds, liquid assets out of term deposits
South Korean companies and households flocked to investment funds and short-term deposits in December last year, pulling out of money market funds a...
Korea's job growth at 10-month high despite weak youth employment
South Korea’s job increases rose for a second straight month to a 10-month high in January thanks to higher employment of the older, although ...
Korea's military fund, LIG Nex1, IBK to form $60 mn defense fund
South Korea’s Military Mutual Aid Association (MMAA), a retirement savings fund for military personnel, will create an 80 billion won ($60 mil...
South Korea's car exports to US hit record high in 2023
South Korea’s car exports to the US surged 44.6% on-year to a record high of $32.2 billion in 2023, making up the lion’s share of South ...
Sindoh to tap ex-STIC Investments exec Seo as CEO, spur M&As
Sindoh Co., a leading manufacturer of multi-functional printers in South Korea, is set to tap an investment banking expert as its chief executive. W...
South Korea’s corporate tax-to-GDP ratio hits record high
South Korean companies paid more corporate taxes than their rivals in developed countries in 2022, losing competitiveness, with the nation’s c...
South Korea establishes diplomatic ties with Cuba
South Korea has established diplomatic relations with Cuba, a close ally of North Korea, Seoul said on Wednesday. Cuba had long been the only count...
Korea gives the nod for foreign workers at plant construction sites
South Korea is expected to allow foreigners to work at plant construction sites nearly two decades after non-native Koreans were banned from those p...
Kyobo Life CEO Shin Chang-jae: Eccentric, humanitarian entrepreneur
When Shin Chang-jae took the helm of Kyobo Life Insurance Co. in 2000 the South Korean insurance firm was reeling from the aftermath of the 1998 Asi...
Korea’s GS offers dim outlook after weak earnings; stocks down
GS Holdings Corp., the holding company of South Korea’s energy-to-retail conglomerate GS Group, on Wednesday provided a dismal business outloo...
Samsung C&T develops new cooling system for data centers
Samsung C&T Corp. announced on Wednesday that it collaborated with the domestic cooling system tech company DataBean to develop and commercializ...
BMW joins other foreign brands’ moves to use domestic car GPS in Korea
German luxury carmaker BMW Group is installing domestic GPS navigation systems in models sold in South Korea, joining other imported car brands&rsqu...
KAI to invest $76 mn in unmanned fighter jets
Korea Aerospace Industries Ltd. (KAI) has announced that it plans to invest 102.5 billion won ($76.64 million) in the development of core technologi...
Hyundai Motor to exceed 100 mn cumulative sales in 2024
Hyundai Motor Co. 's cumulative vehicle sales are expected to surpass 100 million units this year since it started 56 years after the launch of car ...
Hanwha, Saudi gov't to cooperate in defense industry
Hanwha Aerospace Co. and Hanwha Systems Co. announced on Tuesday that they signed a three-party memorandum of understanding (MOU) for defense cooper...
Qoo10 buys US e-commerce platform Wish for $173 mn
Southeast Asia-focused e-commerce platform Qoo10 Pte. has agreed to acquire Wish, a US online marketplace, for $173 million from Nasdaq-listed Conte...
Tesla to showcase Cybertruck in South Korea next week
Tesla Inc., the world’s No. 2 electric vehicle maker, is set to showcase its electric full-size pickup Cybertruck in South Korea, home to its ...
China’s BYD to enter South Korea’s passenger electric car market
China’s BYD Co., the world’s largest electric vehicle maker, is set to enter South Korea’s passenger EV market, setting off alarm ...
Starbucks reigns in coffee republic of South Korea; Drink, play and work
In South Korea, coffee is not just something to drink. It’s a culture, in which people drink, play and work.Koreans’ love affair with co...
Samsung Asset to launch S.Korea's first obesity treatment ETF
Korea Exchange announced on Thursday that it will list Samsung Asset Management's "KODEX Global Obesity Treatment Top 2 Plus exchange-traded fund (E...
KB Financial posts record-high profit on loan growth
KB Financial Group and Kakao Bank, top players in South Korea’s offline and mobile banking sector, respectively, achieved their highest-ever p...
Doosan Enerbility faces record $15 mn in fines for improper bookkeeping
South Korea's major power plant builder Doosan Enerbility Co. faces a record-breaking fine to the tune of about 20 billion won ($15 million) over it...
Korea’s telemedicine startups seek growth abroad
South Korea’s telemedicine startups are seeking growth opportunities abroad in the face of regulations such as drug delivery restrictions that...
Lotte to sell 7-Eleven’s ATM unit in Korea for around $38 mn
Lotte Group is set to sell the automated teller machine (ATM) business of Korea Seven Co., the operator of convenience store chain 7-Eleven in South...
Harim gives up HMM deal over management rights dispute
South Korea's leading poultry processor Harim Co. has walked away from a $5 billion deal to buy HMM Co., South Korea’s No. 1 ocean carrier, re...
South Korea’s Exports Get off to Strong Start in 2024
South Korea’s exports got off to a strong start this year, with shipment growth accelerating in January amid solid demand for semiconductors...
GM chair to visit Korea, meet LG Energy, Samsung SDI CEOs
General Motors Chair and Chief Executive Mary Barra will visit South Korea on Wednesday to meet leaders of LG Energy Solution Ltd. and Samsung SDI C...
