crisis

Private equity Red flags raised even before Homeplus crisis: Sales fall, credit ratings cut

Even before South Korea’s second-largest hypermarket chain Homeplus Co. was put under court receivership due to its worsening financial woes, ...

Leadership & Management Samsung in 'do or die' situation'; Lee sounds crisis alarm

Samsung Electronics Co. Chairman Lee Jae-yong has warned the company's executives that the South Korean tech giant has lost its characteristic "rele...

Central bank BOK lowers growth forecasts to bolster rate cut expectations

South Korea’s central bank slashed its economic growth forecasts on Monday, adding to views that the monetary authority will cut interest rate...

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...

Banking & Finance Korea Eximbank issues $3 bn global bonds

The Export-Import Bank of Korea (Eximbank) said on Wednesday it issued a total of $3 billion in global bonds, targeting worldwide investors.The matu...

Batteries SK Nexilis gets $133 mn subsidy from Poland

South Korea's SK Nexilis Co., the world’s largest copper foil maker, said on Monday it received a $133 million subsidy from the Polish gover...

Business & Politics S.Korea's Yoon survives impeachment; economic fundamentals firm

South Korean President Yoon Suk Yeol survived an impeachment vote against him after an overwhelming majority of governing party lawmakers boycotted ...

Economy Korea’s credit fundamentals remain firm amid political crisis: Fitch

South Korea’s credit rating remained unscathed by the political turmoil caused by the short-lived martial law declaration of President Yoon Su...

Central bank BOK makes 1st back-to-back rate cut since 2009 global crisis

South Korea’s central bank lowered interest rates for a second straight meeting on Thursday in a surprise move and left the door open for anot...

Corporate restructuring Lotte Group denies liquidity crisis rumors to calm bond holders

Lotte Group on Thursday denied liquidity crisis rumors sparked by Lotte Chemical Corp.'s struggle to meet a bond redemption request after the South ...

Economy Korea’s finance min, central bank chief to take on demographic crisis

South Korea’s finance minister and central bank chief on Monday agreed to address the world’s lowest fertility rate, a most urgent task ...

Korean startups Asan Nanum Foundation revamps fund management

The Asan Nanum Foundation, a nonprofit foundation set up in 2011 to commemorate the 10th anniversary of Hyundai founder Chung Ju-yung’s death,...

Banking & Finance Shinhan Card tops S.Korea's EPG ranking for financial institutions

South Korea's Shinhan Card said on Monday it was ranked as the leading company in the domestic financial sector in an environment, population, and g...

Economy Filipino caregivers come to Korea amid demographic crisis

Some 100 certified caregivers from the Philippines will come to South Korea in August to work as domestic helpers in a country struggling with the...

Energy KEPCO, EVN to promote new power business in Vietnam

Korea Electric Power Corp. (KEPCO), the South Korean state-run utility company, and Vietnam Electricity (EVN) have agreed to collaborate on new busi...

Chief Executives Samsung’s new chip head instills a sense of crisis, hope

Samsung Electronics Co.'s new semiconductor chief Jun Young-hyun knows better than anyone about the difficulties the South Korean tech giant fa...

Executive reshuffles Samsung Electronics replaces chip head amid HBM crisis

Samsung Electronics Co., the world’s top memory chipmaker, on Tuesday replaced its semiconductor business chief as the South Korean company st...

Banking & Finance Liquidity crisis looms at S.Korea’s M Capital amid project financing debacle

South Korea's financing and finance leasing firm M Capital Co. is facing a growing risk of liquidity crunch as its attempts to refinance maturing de...

Corporate strategy Samsung shifts to emergency mode with 6-day work week for executives

Executives at all Samsung Group units will work six days a week from as early as this week in a shift to emergency mode. The move comes as the won's...

Banking & Finance S.Korea asks savings banks to raise capital to avoid crisis

South Korea’s top financial regulator advised about 10 local savings banks in trouble to increase their capital by the end of this month to pr...

The Deep Dive Korea faces apple crisis amid climate, demographic change

Apples, normally among the most common and available fruit, are poised to be a rarity in South Korea, where people are suffering a so-called “...

Real estate Korean real estate firms put up for sale amid lasting market downturn

A growing number of private real estate firms are being put up for sale in South Korea amid a prolonged market downturn and increasing delinquencies...

Shipping & Shipbuilding Korea’s HMM among shippers benefiting from growing Red Sea crisis

The Red Sea crisis, disrupting the passage of ships through the Suez Canal, a central artery for global trade, is a bane for exporters looking for s...

Supply chain China’s urea halts raise specter of another logistics crisis in Korea

China has halted customs clearance on its exports of urea, a substance used to reduce carbon emissions in diesel vehicles, raising the prospect of a...

Travel & Leisure Duty-free shops in Jeju welcome return of Chinese cruise tourism

For the first time since Beijing lifted restrictions on group tourism to South Korea, Chinese cruise tourists have flocked to Jeju Island's duty-fre...

Economy South Korean exporters jittery as China's slowdown raises red flag

South Korea’s exporting companies are increasingly feeling the heat as its top export market China is sounding alarm bells over the world&rsqu...

Central bank BOK chief’s top mission: Soft landing for household debt

South Korea’s central bank chief on Thursday vowed to reduce household debt without causing a severe economic downturn as the Bank of Korea he...

Korean stock market Korean exodus from China funds amid deepening property crisis  

South Korean investors’ retreat from Chinese equity funds of nearly 10 trillion won ($7.5 billion) in total principal is accelerating amid dee...

Economy Korea sales set to China to fall for 15th straight mth on property crisis

South Korea’s exports to China are poised to slide for a 15th straight month with an expected deeper drop in August amid a faltering economic ...

Entertainment K-drama hitmaker Studio Dragon in crisis as content head resigns

Studio Dragon Corp., a South Korean production company of Netflix hits such as "The Glory" and "Crash Landing on You," said on Monday its co-Chief E...