Imports drop

Korean chipmakers South Korea asks US for tailored approach to chip tariffs

South Korea has officially requested that the US take a distinct approach in its ongoing probe into foreign semiconductor technology and related dow...

Automobiles BMW surpasses Mercedes in Korean sales for 1st time in 10 years

The top five imported car brands in South Korea underwent a major shake-up last year. BMW overtook Mercedes-Benz in sales for the first time in a de...

Automobiles Hyundai chief Chung, GM CEO Barra to meet September in Detroit

Hyundai Motor Group Executive Chairman Chung Euisun and General Motors Co. Chair and Chief Executive Mary Barra are slated to meet in September in D...

Retail Baemin, Yogiyo see record transaction drops in Feb amid Coupang's rise

South Korea’s top and third-ranked food delivery apps, Baedal Minjok (Baemin) and Yogiyo, saw their biggest-ever monthly drops in transaction ...

Steel POSCO to sell entire stake in Nippon Steel, ending equity ties

POSCO Holdings Inc. has decided to sell its entire stake in Nippon Steel Corp., according to industry sources on Wednesday, marking the end of their...

Business & Politics Korea sees record February auto exports before looming Trump tariffs

South Korea enjoyed record February auto exports on strong demand in the US ahead of its looming tariffs, the government said on Tuesday, while the ...

Mergers & Acquisitions Meritz drops bid for troubled MG Non-Life Insurance; Liquidation looms

Meritz Financial Group Inc., South Korea’s second-most valuable financial holding firm, has dropped its bid to acquire financial distressed MG...

Electric vehicles Hyundai, Kia ready to ramp up EV output in Europe, US

South Korea’s top two automakers Hyundai Motor Co. and Kia Corp. are expected to ramp up electric vehicle production in Europe and the US to b...

Steel Dongkuk to file anti-dumping petition vs Chinese color steel imports

Dongkuk Coated Metal Co. and SeAh Steel Corp. are set to file an anti-dumping complaint against Chinese rivals in March as the country plans to impo...

Steel Korea to probe Chinese, Japanese steel imports over anti-dumping claims

South Korea is set to launch an anti-dumping investigation into hot-rolled steel imports from China and Japan, according to government and industry ...

Electronics Hanmi Semiconductor to retire $90 mn treasury shares in May

Hanmi Semiconductor Co. on Thursday announced a plan to retire 130.0 billion won ($90 million) worth of treasury shares in May, marking its largest-...

Energy South Korean oil refiners to jointly build SAF plant

South Korea’s four major oil refining companies will jointly build a sustainable aviation fuel (SAF) plant in the country, for which the gover...

Steel South Korea’s steel imports from China at 7-year high

South Korea’s imports of steel products from China climbed to their highest level in seven years despite a decrease in its total steel imports...

Economy Political crisis ups downside risk to S.Korea’s economy: S&P, Moody’s

Global credit rating agencies are warning of looming downward pressure on South Korea’s sovereign credit rating about a month after Asia&rsquo...

IPOs K Bank drops 2025 IPO in 3rd Kospi listing cancellation

K Bank, a South Korean online lender, said on Wednesday it has again canceled its initial public offering plan amid the languid stock market an...

Foreign exchange South Korea’s forex reserves drop to 5-year low in 2024

South Korea’s foreign exchange reserves shrank to a five-year low at the end of last year after the country’s foreign exchange authoriti...

Automobiles BMW retains throne in South Korea’s imported car market

German luxury carmaker BMW claimed the mantle of top imported car brand in South Korea for a second consecutive year in 2024, beating out rival Merc...

Beauty & Cosmetics Korean cosmetics beat Chanel, Lancôme to rank top in US, Japan

South Korea’s cosmetics products, also known as K-beauty, have gained global renown, overtaking French brands such as Chanel and Lancôme...

Real estate GIC drops Seoul landmark building sale on Korea’s political woes

Singapore’s GIC Private Ltd., the world’s sixth-largest sovereign wealth fund, dropped the sale of a landmark building in Seoul due to t...

Steel POSCO Future M develops technology to make electrode rods

POSCO Future M Co., a battery material and steel manufacturing equipment supplier, said on Thursday it has developed electrode rod manufacturing tec...

IPOs Sono International seeks IPO in 2025 with $2.1 billion in corporate value

South Korea’s top resort operator Sono International Co. is seeking an initial public offering of its shares on the Korean market next year, r...

Business & Politics Korea mulls raising US oil imports to cope with Trump trade policies

South Korea, the world’s fourth-largest oil importer, is considering increasing US oil imports to ease potential pressure from President-elect...

Steel POSCO shutters wire rod mill in Korea on supply glut

POSCO, the world’s seventh-largest steelmaker, said on Tuesday it has shut down a wire rod mill in South Korea as rising exports from China ha...

Mergers & Acquisitions Korea Zinc drops $1.8 bn rights issue to regain shareholder support

Korea Zinc Inc., the world’s top lead and zinc smelter, on Wednesday withdrew its 2.5 trillion won ($1.8 billion) rights issue as the move to ...

Korean stock market MSCI Korea Index adds Hyundai Rotem

MSCI announced on Wednesday that South Korea's Hyundai Rotem Co. will be added to the Morgan Stanley Capital International (MSCI) Korea Index. ...

IPOs South Korea’s Viva Republica drops Korean IPO plan, seeks US debut

Viva Republica Inc., a leading South Korean fintech unicorn and operator of mobile financial super app Toss, has dropped its plan to go public in th...

Earnings Hyundai Motor logs highest-ever Q3 revenue; margin drops

Hyundai Motor Co. on Thursday reported its worst quarterly profit margin for this year, despite delivering its highest-ever revenue for a third quar...

IPOs Online lender K Bank withdraws plan for Kospi listing

K Bank, a South Korean online bank, has postponed its initial public offering (IPO) plan to list on the main bourse Kospi later this month.The digit...

Batteries Hyundai Motor Group to develop tech to cut Chinese precursor imports

Hyundai Motor Group, the world’s third-largest carmaker, has started developing electric vehicle battery technology to cut costs and reduce th...

Banking & Finance Korean banks post significant H1 profit drop at overseas operations

South Korea’s top four banks saw a significant drop in their overseas earnings in the first half as they focused more on domestic businesses s...