Hyundai to reignite Brazil’s mobility push with $1.1 billion investment

South Korea’s top automaker Hyundai Motor Co. said on Friday it will invest $1.1 billion in Brazil to reinvigorate the South American country&...

BOK likely to keep base rate unchanged until June: chief

South Korea’s central bank held its policy rate flat at 3.5% for a ninth straight session on Thursday as it was deemed too early for a rate cu...

Samsung’s mobile AI journey ‘just getting started’: TM Roh

For Samsung Electronics Co., the Galaxy S24 series is not just an upgrade to its previous flagship models. It’s an evolution that opens a new ...

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 ...

KAI, Hyundai Rotem start space mobility working group

Korea Aerospace Industries Ltd. (KAI) and Hyundai Rotem Co. announced on Friday that they held a kickoff meeting for a working group on the commerci...

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...

One Store attracts $50 mn investment from Digital Turbine

South Korean homegrown app store One Store Co. has attracted a $50 million investment from the Nasdaq-listed US-based mobile platform company Digi...

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...

SK Telecom gears up for AI leap in 2024

SK Telecom Co., South Korea’s largest mobile carrier, will expedite its transition into an artificial intelligence company this year after its...

Nexon's DnF Mobile obtains Chinese game service license

South Korean online game developer Nexon Korea Corp.'s "Dungeon & Fighter Mobile" has obtained a banhao (game service license) from the Chinese ...

Hana Bank at record profit; office bets hit Hana Securities

South Korea’s Hana Financial Group on Wednesday reported a dip in net profit in 2023, with record earnings at its flagship Hana Bank offset by...

Doosan Bobcat showcases hydrogen-powered forklift in S.Korea

Doosan Bobcat, the construction and agricultural machine manufacturer of South Korea’s Doosan Group, has commercialized hydrogen-powered forkl...

Korean banks stop ELS sales after HSCEI debacle

South Korean banks are scurrying to suspend the sale of equity-linked securities (ELS) after the country’s financial regulator said it may con...

Taiwan QR code to be available at BC Card merchants in S.Korea

South Korea’s BC Card announced on Wednesday that it will introduce the Taiwanese QR payment method TWQR in the domestic market for Taiwanese ...

Korea needs population growth for sustainability: World Bank chief

World Bank President Ajay Banga said on Thursday that South Korea needs to boost population growth by easing the fierce competition in education and...

Hyundai Motor units join hands for logistics solutions

Hyundai Motor Group’s autonomous driving technology arm 42dot Inc. has joined hands with its sister companies Hyundai Glovis Co. and Hyundai C...

Harim, KDB in dispute over $5 bn HMM deal conditions

Talks to sell South Korea’s No. 1 ocean carrier HMM Co. to Harim Group, a leading poultry processor, have made little progress amid disputes o...

South Korean apps for foreigners' daily life, travel on the rise

The South Korean mobile app market is seeing fast growth of platforms targeting foreign users in the country alongside their increasing demand for a...

Korean banks flock to Poland, Korean Inc.’s new manufacturing hub

South Korean banks are in a race to advance into Poland to support Korean companies rushing to build factories in the new offshore manufacturing hub...

Why spend more on an IPO? No invitation to foreign banks

South Korea’s Viva Republica Inc. has recently invited a handful of domestic brokerage companies to give presentations to revive its IPO plan....

South Korean central bank not to increase gold reserves

South Korea’s central bank does not plan to buy more gold for its foreign exchange reserves, although the monetary authority has not purchased...

Woori Bank issues $700 mn in ESG bonds

South Korea's Woori Bank announced on Thursday that it has issued $700 million (940 billion won) worth of foreign currency ESG (environmental, socia...

Samsung AI features on 100 mn Galaxy phones by year-end: mobile chief

SAN JOSE, Calif. – Samsung Electronics Co., said on Wednesday it aims to have at least 100 million units of its flagship Galaxy line of smartp...

Woori Financial to bolster private banking service: chairman

Woori Financial Group, South Korea’s fourth-largest financial holding company, will reinforce its wealth management service for high-net-worth...

Toss Bank launches commission-free foreign exchange services

South Korea’s fintech platform Toss Bank said on Thursday it has launched commission-free foreign exchange services for the first time as a do...

Samsung Galaxy S24 heralds dawning of AI smartphone era

SAN JOSE, Calif. – Samsung Electronics Co. on Wednesday unveiled its latest flagship smartphone Galaxy S24 series, which it calls an “AI...

Hyundai Motor to launch advanced vehicle platform R&D division

South Korea’s top automaker Hyundai Motor Group will launch an advanced vehicle platform (AVP) research and development division, combining it...

Lunit to supply AI image analysis solutions to Samsung Electronics

South Korean medical AI company Lunit has secured a significant partnership with tech giant Samsung Electronics Co., signing a three-year, $1.86 mil...

Hyundai Motor launches 'Hyundai Future Adventure' on Roblox

Hyundai Motor Co. announced on Monday that it will launch a new game "Hyundai Future Adventure" on the popular metaverse platform Roblox, where user...