Abbot Point

Central bank BOK stands pat; rate cut likely within 3 months as economic growth slows

The Bank of Korea (BOK) left its benchmark interest rate unchanged at 2.75% on Thursday, with Governor Rhee Chang-yong warning that a surge in globa...

Shipping & Shipbuilding HD Hyundai on course for $1.55 bn order amid US-China trade war

HD Hyundai Co., the world’s largest shipbuilding group, is emerging as a key beneficiary of the Trump administration’s tariff policies a...

Real estate Deloitte Anjin to lead sale of Four Points by Sheraton Josun, Myeongdong

IGIS Asset Management Co., a leading South Korean real estate investment firm, has chosen Deloitte Anjin LLC as its lead manager to sell Four Points...

Cryptocurrencies BlackRock sees digital assets at critical turning point

Digital assets are poised for robust structural growth – not just as investment vehicles but as strategic assets – fueled by growing ins...

Real estate Korea’s IGIS Asset puts top Seoul tourist area hotel on market

IGIS Asset Management Co., one of Asia's largest real estate investment firms, is set to sell a four-star hotel in Myeong-dong, a popular spot for f...

Central bank BOK lowers growth forecasts to bolster rate cut expectations

South Korea’s central bank slashed its economic growth forecasts on Monday, adding to views that the monetary authority will cut interest rate...

Shareholder activism KT&G to buy back shares, rejects Ginseng unit buyout offer

South Korean tobacco maker KT&G Corp. on Thursday unveiled a plan to buy back shares and pay dividends totaling 3.7 trillion won ($2.7 billion) ...

Earnings Coupang posts record quarterly sales, swings to Q3 operating profit

Coupang Inc., South Korea’s answer to global e-commerce giant Amazon.com, posted its highest quarterly sales in the third quarter and swung to...

Central bank BOK flags more rate cuts but in gradual, small steps

South Korea’s central bank is open to more cuts in interest rates after its first rate reduction in more than four years on Friday but only in...

Mergers & Acquisitions Korea Zinc ups share buyback price, volume to counter MBK

Korea Zinc Inc. said on Friday it will buy back more shares at a higher price than originally planned to counter North Asia-focused private equity f...

Artificial intelligence SPC, SK Telecom to collaborate on AI business

South Korea's SPC Group and SK Telecom Co. signed a memorandum of understanding (MOU) to collaborate in various areas such as membership and busines...

Retail CU to accept Japan's Ponta Points for payments

South Korea's BGF Retail, the operator of the leading domestic convenience store chain CU, announced on Sunday that it signed a memorandum of unders...

Tech, Media & Telecom LG CNS unveils PerfecTwin ERP Edition in US

South Korea’s LG CNS Co., a cloud computing services arm of LG Corp., announced on Wednesday that it unveiled its testing solution PerfecTwin ...

Pension funds NPS to cut Korean stock allocation to 13% by 2029

South Korea’s National Pension Service (NPS), also the world’s third-largest pension fund, will gradually reduce the proportion of its l...

Energy Doosan wins $114 mn Saudi power plant equipment order

Doosan Enerbility Co. said on Monday it has bagged an order worth 150 billion won ($114 million) to supply turbines and generators for two combined ...

Retail Hyundai Dept. Store launches membership for foreigners

South Korea's Hyundai Department Store Group announced on Thursday that it launched H Point Global, a dedicated membership service for foreign cus...

Foreign exchange S.Korea’s forex reserves dwindle to lowest point in more than 3 years

South Korea’s foreign exchange reserves dropped in October for the third straight month to their lowest point since June 2020, as local author...

Batteries LG Energy barely fends off CATL in global EV battery market

LG Energy Solution Ltd. retained the top position in the global electric vehicle battery market excluding China in the first eight months of this ye...

Tech, Media & Telecom Naver integrates points program with Samsung Pay

The online money and points of South Korea's Naver Pay, an affiliate of the country's largest web portal Naver Corp., can now be used at offline sto...

Tech, Media & Telecom Naver raises S.Korean market lead thanks to LLM HyperCLOVA X

South Korea’s leading web portal Naver Corp. has raised its domestic market share, which plummeted to the mid-50% range in May, thanks to Hype...

Electronics Samsung’s connectivity vs. LG’s sustainability at IFA 2023

BERLIN – South Korea’s household names in home electronics are set to show off their high-tech home electronics boasting upgraded connec...

Airlines Budget carriers turn around with highest-ever profits in Q2

South Korea’s low-cost carriers (LCCs) posted their highest-ever quarterly profits on the back of a surge in international travel as the indus...

Artificial intelligence S.Korean LLM by Upstage beats global benchmark ChatGPT

The latest artificial intelligence model of South Korean AI startup Upstage scored higher than ChatGPT by global AI giant OpenAI in a world-recogniz...

Electronics Samsung pins high hopes on new Galaxy Z foldables

Foldable phones will likely account for one-third of Samsung Electronics Co.'s domestic sales of its flagship Galaxy smartphone series this year, le...

Energy S.Korea's oil refining margins exceed break-even points

Refining margins at South Korea’s four oil refiners, led by SK Innovation Co., have exceeded their break-even points after three months, a sig...

Shipping & Shipbuilding S.Korea's shipyards get OK from shipping companies to delay vessel delivery

South Korean shipbuilders are breathing a sigh of relief despite the postponed delivery of their container ships due to a chronic shortage of domest...

Korean stock market Korean investors’ risky bet: Buy inverse ETFs as Kospi heads higher

 Among the most cited stock market sayings by experts and laymen alike are “buy the dips” or “sell on news” – tim...

Artificial intelligence S.Korea to develop supercomputer for industrial use

South Korea is set to develop a supercomputer for industrial use as Asia’s fourth-largest economy lags far behind on the performance of such d...

Bio & Pharma Medtronic to buy S.Korean insulin patch maker for $738 mn

Medtronic Plc., a Dublin, Ireland-based medical device maker, is set to acquire EOFlow Co., a South Korean wearable insulin patch maker, for $738 mi...

Central bank BOK leaves door open for another quarter-point rate rise

The Bank of Korea’s (BOK) decision on Thursday to keep its base rate steady at 3.50% does not signal the end of its one-and-a-half-year tighte...