Slow Recipe

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...

Economy S.Korea logs current account surplus in Jan; Growth slows

South Korea reported a current account surplus for 21 straight months in January but with a moderated gain largely due to a contraction in the goods...

Economy S.Korea’s factory output dips in January; Retail sales, investment slow

South Korea’s factory production decreased in the first month of this year due to a manufacturing slowdown, while private consumption and busi...

Economy S.Korea’s job growth slows for 2nd straight year in 2024  

South Korea’s job growth slowed last year amid a prolonged slump in the country’s construction, manufacturing and retail sectors, boding...

Shipping & Shipbuilding HD KSOE eyes $180.05 bn worth of orders in 2025

South Korea’s largest shipbuilder, HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), said Friday it aims to win $180.05 billion ...

Markets Samsung Securities lowers Samsung Electro-Mechanics target price

South Korea's Samsung Securities lowered its target price for Samsung Electro-Mechanics Co. to 160,000 won ($120) from 210,000 won. The securit...

Batteries LG Elec builds EV chargers safety net for fire prevention

LG Electronics Inc. equipped its slow electric vehicle (EV) chargers with dual overcharge prevention technology to alleviate customer concerns and a...

Earnings Samsung chip head vows drastic revamp after flagging weak Q3 earnings

Jun Young-hyun, vice chairman and head of Samsung Electronics Co.'s semiconductor business, on Tuesday vowed to take drastic steps to improve profit...

Economy S.Korea’s Q2 GDP slows 0.2%, upholds rate cut expectations

South Korea’s economic growth slowed in the second quarter on weaker domestic consumption and investment by private businesses, heightening ex...

Central bank BOK signals autumn rate cut as inflation, economic growth slow

South Korea’s central bank is likely to reduce interest rates in the next three months as inflation is expected to ease amid a slowdown in Asi...

Automobiles Slowing economy creates opportunity for S. Korean used car sellers

South Korea’s used car sellers hope to take advantage of the slowing economic growth at home and abroad to expand their market shares.Lotte Re...

Real estate Korean commercial real estate market to show slow recovery in H2

South Korea’s commercial real estate market will post a slow recovery in the second half of this year due to rate cut delays and no big correc...

Economy South Korea’s Economy Slowed Sharply in Second Quarter

South Korea’s economy slowed at a sharper-than-expected pace in the second quarter on sluggish private consumption and weak business investmen...

Economy S.Korea’s economy slows in Q2, but on growth course

South Korea’s economy unexpectedly slowed in the second quarter on softer private consumption and business investments, reinforcing expectatio...

Chemical Industry Lotte Chemical develops anti-thermal runaway material

Lotte Chemical Corp., South Korea’s second-largest petrochemicals company seeking to ramp up value-added advanced materials production, has de...

Economy S.Korea’s inflation slows to 10-month low amid tight policy

South Korea’s headline inflation slowed to a 10-month low in May as the Bank of Korea kept its interest rate policy tight, adding to the centr...

Automobiles South Korea steps on accelerator for record 2024 car exports

ASAN, South Chungcheong Province – At Hyundai Motor Co.'s manufacturing plant in Asan, over 60 km south of Seoul, thousands of robots were bus...

AgTech SK Leaveo to start fertilizer coating with biodegradable materials

South Korea's SK Leaveo, a subsidiary of SKC Ltd. specializing in biodegradable materials, will enter the fertilizer coating market that uses polybu...

Retail Used goods platform Gugus shines in slowing luxury market

Gugus, South Korea’s largest online retailer of secondhand luxury goods, posted double-digit growth in revenue and transactions in the first q...

Korean startups Korean unicorns slow growth to focus on profits

South Korean unicorns, or startups valued at $1 billion or more, are slowing the pace of growth to shore up their bottom lines as they revive l...

Corporate strategy Hyundai vows to cut costs, seek shift toward SDVs as EV uptake slows

South Korea’s top automaker Hyundai Motor Co. has vowed to sharpen its electric vehicle price competitiveness through tech advancement and eff...

Electric vehicles 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 ...

Steel POSCO chairman nominee to prop up ailing steel business

The chairman nominee of POSCO Holdings Inc., the parent of the world’s No. 7 steelmaker POSCO, is expected to concentrate on improving its cor...

Travel & Leisure Korea’s luxury resort market blossoms despite slow economy

South Korea’s luxury resort market seems to operate out of sync with the economy. High-end operators are opening swanky holiday resorts in Kor...

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...

Economy S.Korea’s labor gains slow in November with fewer jobs for young people

South Korea’s nonfarm payroll growth slowed in November after the country with the world’s lowest fertility rate marked its 13th straigh...

Automobiles Hyundai, Kia’s car exports to top 2 mn units for 1st time in 7 years

Hyundai Motor Co. and Kia Corp., South Korea’s two largest automakers, are set to export more than 2 million cars in 2023 for the first time i...

Batteries SK On, BASF tie up for EV battery materials business

SK On Co., the world’s fifth-largest electric vehicle battery maker, and BASF SE, a major global cell materials producer, joined forces for th...

Batteries LG Energy, Ford’s battery JV in Turkey scrapped as EV uptake slows

A planned battery manufacturing joint venture between South Korea’s top battery maker LG Energy Solution Ltd., US carmaker Ford Motor Co. and ...

Automobiles Kia’s new Carnival RV rides on growing popularity of hybrid cars

Kia Corp., South Korea’s second-largest automaker, is riding on the growing popularity of hybrid vehicles as pure electric vehicle uptakes slo...