alleged tax evasion

Automobiles South Korea announces emergency support for auto sector against US tariffs

South Korea’s government has announced emergency-support measures for the country’s auto sector, as it rushed to ease the impact of U.S....

Energy OCI to build $265 mn solar cell plant in Texas, expects $80 mn tax credit

South Korean solar cell company OCI Holdings Co. said on Thursday it will build a solar cell manufacturing plant in Texas through its US subsidiary ...

Regulations MBK Partners under Korean tax agency scrutiny

MBK Partners, a leading North Asia-focused private equity firm, has come under a probe by South Korea’s National Tax Service (NTS) amid the br...

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...

Shareholder value S.Korea’s top financial regulator pushes tax support for value-up program

South Korea is ramping up efforts to encourage companies to enhance shareholder value by providing tax support for its corporate value-up program, a...

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 ...

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...

Energy Korea’s OCI, US partner CPS Energy sign 20-year energy storage deal

South Korean solar cell company OCI Holdings Co. said on Tuesday it has signed a deal with US power supplier CPS Energy to jointly build a 120-megaw...

Business & Politics S.Korea set to scrap financial investment income tax

South Korea is set to scrap a plan to impose a tax on gains from financial investments – a scheme slated to be introduced early next year &nda...

Regulations Heavy inheritance, gift taxes spur rich Koreans to emigrate to Singapore

A South Korean co-CEO of a blockchain investment firm with hundreds of millions of dollars in assets moved to Singapore last year to avoid the North...

Regulations Big Tech get slap on wrist for tax avoidance in Korea

Global Big Tech companies such as Google, Meta and Netflix have paid a pittance in South Korea taxes and were fined as little as one-ten-thousandth ...

Business & Politics S.Korea’s reshoring companies pale amid lack of support, incentives

Reshoring, or a corporate U-turn to the home country from an overseas location, has been the global trend since the outbreak of the COVID-19 pandemi...

Regulations FTC fines Kakao Mobility $55 mn for alleged unfair taxi-hailing service

South Korea’s antitrust body has fined Kakao Mobility Corp., the country’s largest taxi-hailing app operator, 72.4 billion won ($54.9 mi...

Commodities Korea to punish copper scrap traders for illegal exports

BUSAN -- South Korea is set to punish copper scrap traders, mostly Chinese-operated, for illegal exports as nonferrous metal sector companies on the...

Mergers & Acquisitions SkyLake offers to fully take over BusinessOn; stock rallies

Seoul-based private equity firm SkyLake Equity Partners has offered to buy the remaining shares of BusinessOn Communication Co., South Korea’s...

E-commerce S.Korea fines AliExpress $1.4 mn for alleged privacy breach

South Korea’s privacy authority is punishing AliExpress with measures including a $1.4 million fine for allegedly not providing measures to pr...

E-commerce Coupang fined $102 mn for alleged search algorithm manipulation

Coupang Inc., South Korea’s largest e-commerce platform, was fined 140 billion won ($102 million) on Thursday for allegedly manipulating searc...

Business & Politics South Korea Plans $7 Billion Push to Pivot EV Battery Industry Away From China

South Korea is dedicating around $7 billion to help wean its electric-vehicle battery supply chain away from China and align more with U.S. trade gu...

Energy Malaysia, OCI’s base set to beat Chinese polysilicon rivals

SARAWAK, Malaysia – OCI Group, South Korea’s leading chemical and green energy conglomerate, is expanding its polysilicon facility in Ma...

The KED View K-pop: Pros and cons of HYBE's multi-label system

Disputes between HYBE Co. and its label behind popular girl group NewJeans has made headlines as an almost unheard-of conflict in the K-pop industry...

K-pop HYBE to fire NewJeans agency CEO; Min refutes accusation

HYBE Co. is seeking to sack Min Hee-jin, the chief of ADOR, its label behind globally popular girl group NewJeans, as it investigates allegations th...

Markets Samsung heiress sells $326 mn worth of Samsung Elec shares

Samsung Group heiress and Hotel Shilla Chief Executive Lee Boo-jin sold 441.2 billion won ($325.9 million) worth of Samsung Electronics Co. shares i...

Sovereign bonds Euroclear to trade S.Korean treasuries via omnibus account from June

The National Tax Service (NTS) of South Korea said on Tuesday that Euroclear Bank SA/NV and Clearstream Banking S.A., two major clearing houses for ...

Batteries Solus Advanced Materials poised to lead EV copper foil market: CEO

Solus Advanced Materials Co. is not a household name among ordinary electric vehicle drivers. But the South Korean company is a little giant to gl...

Business & Politics China exodus to elevate Korea to Asia hub: AmCham chief

South Korea has outstripped Hong Kong and Shanghai as a preferred Asia-Pacific headquarters destination for global companies, trailing only Singapor...

Commodities Korea struggles with surging copper scrap exports to China

South Korea’s nonferrous metal industry is scrambling for the procurement of copper scrap as China, the world’s top copper consumer, has...

Korea business lobby group eyes tax reform in new parliament

The Korea Enterprises Federation will reinforce efforts to win lawmakers’ nod to its long-desired campaign to slash corporate taxes and inheri...

Shipping & Shipbuilding Hanwha seeks further legal action vs HD Hyundai amid Navy project rivalry

Hanwha Ocean Co., the world’s second-largest shipbuilder, is seeking new legal action against HD Hyundai Heavy Industries Co. over the bigger ...

Korean stock market Korea announces measures to upvalue local shares

The South Korean financial regulator announced basic guidelines under the so-called corporate value-up program on Monday, with measures to boost the...

Sovereign bonds Fed rate cut hopes spur Koreans’ US Treasury bond buying spree

US Treasury bonds are gaining popularity among retail investors in South Korea amid expectations that the US Federal Reserve will cut interest rates...