ECOC 2022

Banking & Finance Hana Financial CEO set for reappointment with foreign investor backing

More than half of the foreign shareholders in Hana Financial Group have thrown their support behind Chief Executive Ham Young-joo for a second term,...

Bio & Pharma SK Biopharmaceuticals, Eurofarma to set up AI epilepsy platform JV in US

South Korea’s SK Biopharmaceuticals Co. has signed a deal with Brazil’s Eurofarma Laboratórios S.A. to establish a joint venture ...

Business & Politics Korea sharply cuts 2025 growth forecast, opens door for extra budget

South Korea sharply lowered its economic growth forecast for this year amid the prolonged political turmoil following President Yoon Suk Yeol’...

Automobiles Hyundai Motor Group’s software unit launches cybersecurity division

Hyundai AutoEver Corp., Hyundai Motor Group’s software unit, is set to boost its automotive cybersecurity business by launching a new division...

IPOs Korea’s MeatBox to go public despite other failed grocery platform IPOs

MeatBox Global Inc., South Korea’s online livestock product sales platform operator, aims for an initial public offering valued at up to 28.5 ...

Debt financing Korean firms rush to sell bonds with yields at over 2-yr low

South Korea’s corporate bond markets are having an unusually busy summer as companies are rushing to sell debts to lock in lower interest cost...

E-commerce Korean e-commerce startup funding sharply drops since 2022

South Korean e-commerce companies have seen a sharp decline in series A funding over the past three years amid intensifying competition with Chinese...

Tech, Media & Telecom Samsung SmartThings gets global certification for information security

Samsung Electronics Co. announced on Friday that its global connected living platform SmartThings received the ISO/IEC 27001:2022 certification for ...

Electric vehicles Hyundai eyes Japan’s commercial EV market in e-bus deal with Iwasaki

South Korean top automaker Hyundai Motor Co. said on Tuesday it is supplying its all-electric Elec City Town buses to Iwasaki Group, effectively ent...

Corporate restructuring Doosan Robotics to merge with Doosan Bobcat by early 2025

Doosan Robotics Inc. will complete a merger with Doosan Bobcat Inc. by early next year, a move aimed at prodding Bobcat to take an active role in ex...

Batteries Korea to keep track of EV battery life cycles for recycling

The South Korean government will monitor electric vehicle (EV) battery life cycles to share information on the lifespan, performance and accident hi...

Energy POSCO International completes Korea’s first non-state-run LNG terminal

POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., said on Tuesday i...

Korean startups Dog meetup app MMDC aspires to be AI pet nanny

Some call it social media for dogs, others say it's a dating app for their four-legged friends. No matter what you call it, the Meet My Dog Challeng...

Energy POSCO, Hancock to invest $432 mn in Senex's LNG production

POSCO International Corp., the general trading and resources exploration unit of South Korean steel giant POSCO Holdings Inc., said on Tuesday that ...

Aerospace & Defense Hanwha Aerospace, Poland sign $1.6 billion Chunmoo rocket launcher deal

Hanwha Aerospace Co., a leading South Korean defense company, on Thursday signed a $1.64 billion deal to supply 72 units of Chunmoo multiple launch ...

Food & Beverage Korea’s makgeolli market hits brakes amid whiskey fad

The market growth of South Korea’s traditional milky and often sweet rice wine, makgeolli, has slowed after the country’s younger genera...

Artificial intelligence LG Group’s AI academy to foster young talent bears fruit

On April 6, at LG Inwhawon, called LG Academy in English, in Icheon, Gyeonggi Province, 99 college students and twenty-somethings were wrestling wit...

Banking & Finance 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 ...

Economy 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...

Electronics LG Innotek’s task ahead: Lessen reliance on Apple

LG Innotek Co. faces growing pressure to lessen its reliance on Apple Inc., which accounts for 70% of its sales. The iPhone maker has been reducing ...

Aerospace & Defense LIG Nex1 inks $3.2 bn missile defense deal with Saudi Arabia

South Korea's major defense system developer LIG Nex1 Co. has clinched a $3.2 billion deal to export its latest missile interceptor to Saudi Arabia,...

Tech, Media & Telecom Taihan Cable sees strong US business in January

South Korea's Taihan Cable & Solution Co. announced on Friday that it has surpassed a cumulative order in the US amount of $32 million (42.8 bil...

Central bank South Koreans expect inflation to slow, relief to BOK’s hawkish stance

South Koreans expect inflation to slow over the next 12 months, providing relief to the central bank’s hawkish stance that policy rates should...

Automobiles Hyundai, Kia support Korean exports hit by weak chip sales

Two affiliates of Hyundai Motor Group, the world’s third-largest automaker by sales, ranked as the top South Korean exporters in the one-year ...

Sovereign wealth funds KIC recoups 40% of 2022’s loss on stock, bond gains

Korea Investment Corp. (KIC) posted a 7.12% return on total asset investments in the first eight months of this year, recouping about 40% of last ye...

Economy S.Korea’s semiconductor exports rebound in 1st 10 days of November

South Korea’s semiconductor exports rose in the first 10 days of November, reversing their 13-month downward trend, data show, raising the pro...

Economy Korea exports snap year-long slide as chips regain momentum

South Korean exports rose in October for the first time in 13 months as semiconductors, the country’s top export item, are on course to regain...

Advertising & Marketing Innocean to invest $370 million in new growth drivers

Innocean Worldwide Inc., the global marketing communications arm of Hyundai Motor Group, will invest 500 billion won ($370 million) for four years u...

Automobiles Hyundai, Kia aim for 20% share in Middle East with EVs by 2030

Hyundai Motor Co. and its sibling Kia Corp. together target selling 550,000 cars annually in the Middle East by 2030 to control about 20% of the reg...

Economy Korea expects inflation to ease from Oct after 5-month high

South Korea predicted headline inflation to ease from October after hitting a five-month high last month, adding to expectations that the central ba...