billing

Regulations Parliament passes bill to expand boards’ fiduciary duties

South Korea's National Assembly on Thursday passed an amendment to the Commercial Act to expand boards of directors’ fiduciary duties to minor...

Shipping & Shipbuilding HD Hyundai, Hanwha to tap into $242 billion US Navy warship market

South Korea’s two warship builders – HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., – are set to ride tailwinds in their bi...

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 ...

Regulations Korea tightens rules on Netflix, Spotify subscription billing

South Korea’s antitrust body is slated to tighten the leash on subscription businesses of streaming service providers such as Netflix Inc. and...

Energy High power bills drive Korean manufacturers out of country

South Korean manufacturers are increasingly moving abroad as the country's electricity bills are hovering about 30% higher than those of major eco...

Banking & Finance Shinhan Financial builds disaster response system

South Korea's Shinhan Financial Group announced on Sunday that it established a disaster response system to provide swift and substantial assistance...

Economy Korea’s food prices highest among OECD nations; utility bills at bottom

South Korea’s food prices were found to be the highest among the Organization for Economic Cooperation and Development (OECD) countries last y...

Regulations Apple, Google may face $50.4 mn fine over in-app billing in Korea

Apple Inc. and Alphabet Inc.’s Google may be fined up to 68 billion won ($50.4 million) in South Korea for breaking the country’s in-app...

Business & Politics S.Korea to receive $1 bn in unpaid bills from Uzbek gas project

South Korean firms are poised to receive $1 billion in unpaid bill that has accumulated since 2017 from Uzbekistan’s Surgil gas project as the...

Tech, Media & Telecom Webcash launches WeBill 365 in Cambodia

South Korea's Webcash Co. has launched its specialized billing solution "WeBill 365" in Cambodia."WeBill 365 maximizes convenience and efficiency fo...

Electric vehicles France’s new EV subsidy bill may violate Korea-EU FTA: KITA

The South Korean auto industry has called for an amendment in France’s new subsidy policy for electric vehicle purchases after voicing concern...

Earnings KEPCO vows to save $19 bn in 5 yrs; CEO offers to resign over swelling losses

South Korea’s state-run utility monopoly Korea Electric Power Corp. (KEPCO) on Friday vowed to save nearly 26 trillion won ($19.5 billion) ove...

Batteries LG Energy Solution diversifies supply chains to respond to US IRA

LG Energy Solution Ltd. has made a preemptive response to the Inflation Reduction Act of the US by securing the supply of lithium carbonate, a key m...

Carbon neutrality Hyundai Heavy to invest $30 million in TerraPower for SMR business

South Korea’s Hyundai Heavy Industries Group said on Friday it has signed a deal to invest $30 million in TerraPower, a US nuclear power ventu...

Batteries Seoul pushes for battery recycling to bypass US bill

South Korea will step up policy efforts to promote battery recycling, which might help the country get around the new US bill aimed at keeping elect...

Economy Rising utility bills add to Korea’s inflationary pressure

South Korea may raise utility bills after scheduled hikes in the coming months, adding to inflationary pressure in Asia’s fourth-largest econo...

Carbon neutrality SK Group invests $250 mn in Bill Gates’ nuclear reactor firm TerraPower

South Korea’s SK Group said on Monday it invested $250 million in TerraPower, a US venture founded by billionaire Bill Gates. The holdi...

Electric vehicles Seoul says US tax credit bill risks violation of FTA, WTO

South Korea has conveyed concerns to the US about its legislative move to remove tax credits from electric vehicles produced outside of North Americ...

Electric vehicles SK seeks to build EV charger plant in US on subsidies

SK Group, South Korea’s No. 2 conglomerate, is seeking to build an electric vehicle charger plant in the US in a move to accelerate the expans...

Electric vehicles Korean EV, battery makers to benefit from US inflation bill

South Korea’s electric vehicle and battery makers are expected to benefit from the Inflation Reduction Act of 2022, the US bill designed to br...

Business & Politics Seoul suspends new antitrust bill on trade conflict fears

South Korea has postponed the introduction of a new law aimed at expanding its authority beyond Korean entrepreneurs, people familiar with the matte...

Tech, Media & Telecom Kakao steps back from conflict over Google's in-app payment

South Korea’s Kakao Corp. has voluntarily removed an external payment link from the country’s largest messaging app KakaoTalk in complia...

Corporate restructuring SK set to buy stake in Bill Gates' TerraPower

SK Innovation Co., South Korea's leading petrochemical company, is planning to buy a stake in TerraPower, a US nuclear power venture founded by Bill...

Carbon neutrality SK ties up with Bill Gates’ TerraPower for small nuclear reactor biz

SK Group, South Korea’s No. 2 conglomerate, joined hands with TerraPower, an advanced nuclear power venture founded by billionaire Bill Gates,...

Aerospace & Defense Hanwha invests another $11 mn in US communications firm Kymeta

Hanwha Systems Co., the defense and air mobility unit of South Korea’s Hanwha Group, made another investment of $11 million in Kymeta Corp., a...

Hydrogen economy SK Gas invests in Bill Gates-backed hydrogen tech startup

SK Gas Co., the top liquefied petroleum gas (LPG) company in South Korea, has invested in Series B funding for C-Zero Inc., a California-based start...

Korean chipmakers SK Hynix-led $101 bn Korean chip project delayed again

SK Hynix Inc.’s $101 billion project to build a semiconductor complex in South Korea was delayed again, stoking concerns that the world’...

Tech, Media & Telecom S.Korea curbs in-app payment plans by Google, Apple

The South Korean parliament has passed the world's first bill to banGoogle, Apple Inc. and other app store operators from forcing certain payment sc...

Tech, Media & Telecom Google’s in-app billing system ignites power play among Korean regulators

South Korea’s attempt to prohibit global app store operators from forcing certain in-app payment schemes has hit a bumpy road due to power pla...

Tech, Media & Telecom S.Korea closer to banning Google's in-app billing system

South Korea is a step closer to stopping app store operators like Google Inc. and Apple Inc. from requiring all digital content purchases from apps ...