downturn

Corporate bonds Korean petrochemical sector to sell corporate bonds amid downturn

South Korea’s petrochemical producers are set to issue corporate bonds to take advantage of ample liquidity at the beginning of the year amid ...

Mergers & Acquisitions Hahn & Co. to buy controlling stake in SK’s specialty gas unit for $1.9 bn

South Korea’s private equity firm Hahn & Co. is set to acquire a controlling stake in the world’s top specialty gas producer SK Spec...

Retail S.Korean travel retailers face downturn without Chinese big spenders

Before COVID-19 swept the world, South Korea’s top two travel retailers Lotte Duty Free and Shilla Duty Free Shop ascended to the world’...

Executive reshuffles Korea’s Shinsegae replaces building unit chief amid property downturn

South Korea’s retail giant Shinsegae Group on Tuesday replaced the head of its construction unit amid the sluggish property market, adding to ...

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...

Korean startups Venture downturn keeps Korean unicorns from acquisitions

South Korean unicorns, or private companies worth $1 billion or more, are increasingly refraining from taking over smaller startups for business exp...

Earnings Kia posts record 2023 sales, profit with bold 2024 business targets

Kia Corp., South Korea’s second-largest automaker, on Thursday posted record 2023 profit and sales revenue, driven by strong sales of pricey m...

Automobiles Tata Daewoo triumphs in global market with 40% export surge

South Korea's Tata Daewoo Commercial Vehicle Company (TDCV) achieved remarkable success last year by exporting 40% of its total sales, despite the g...

Korean startups Korean semiconductor startups shine in venture downturn

South Korean startups in the semiconductor, eco-friendly and electric vehicle battery sectors succeeded in attracting investors in the second half o...

Aerospace & Defense Korean defense sector to offset semiconductor downturn: FT

South Korea’s defense sector is enjoying booming demand from countries across the world that are cutting their reliance on Russian weapons, of...

Korean games S.Korean game developer Smilegate, angel of local startups

Smilegate, South Korean developer of the world’s top first-person shooter game Crossfire, is raising investments in domestic startups despite ...

Leadership & Management Ex-CEOs return to firms in Korea for operational stability

Former chief executives of South Korean firms are being recruited by their previous employers as the companies need the seasoned experience of these...

Corporate strategy S.Korea's top four accounting firms to cut hiring 30%

South Korea's top four accounting firms -- Samil PwC, Samjong KPMG, Deloitte Anjin and EY Hanyoung -- are expected to cut hiring this year more than...

Economy S.Korea's BSI dips below 100 for 15th consecutive month

The economic outlook of South Korean manufacturing and non-manufacturing sectors is negative for June, the 15th consecutive month of such pessimis...

Korean chipmakers Korea must nurture chip materials, parts, facilities: Jusung

South Korea needs to nurture its materials, parts and facilities industries to keep competitiveness in the semiconductor sector, said the chief exec...

Construction Korean builders to ramp up overseas business in 2023

Major South Korean construction firms are set to expand their overseas business while reducing domestic projects this year to boost profitability. T...

Venture capital Korea's venture capital investment falls 12% last year amid downturn

South Korea's venture capital investment last year fell more than 10% from a year ago due to the economic downturn caused by a series of global rate...

Petrochemicals Top petrochemical makers secure cash on economic slowdown woes

South Korea's top petrochemical firms raised 2.6 trillion won ($2.1 billion) via corporate bond sales and rights offering earlier this month to gird...

Korean chipmakers Samsung may cut spending as foundry players brace for downturn

Samsung Electronics Co., the world’s largest memory chipmaker, may slash its investment for contract chipmaking known as foundry, as its peers...

Korean startups Profitable Korean startups attract funds despite downturn

Profitable South Korean startups succeeded in fundraising despite an economic downturn as investors sought stable earnings from companies with clear...

Real estate Stay disciplined, be more aggressive in 2023: PGIM Real Estate CEO

Investors often lose deals as they are too cautious or wait too long for values to go up to the exact point they expect. However, being too precise ...

Earnings Samsung’s Q4 profit tumbles; cuts 2023 chip profit forecast by half

Samsung Electronics Co., the world’s largest memory chip and smartphone maker, posted its worst quarterly operating profit in eight years on F...

Real estate Commercial building transactions plummet to 2008 financial crisis level

In October, commercial building sales in Seoul plunged to the level of the 2008 global financial crisis.According to an analysis of actual transacti...

Korean stock market Korean stocks with healthy earnings to shine in H2 2023

South Korea’s Mirae Asset Securities Co. expected local shares with strong earnings including growth stocks to rally in the second half of nex...

Central bank BOK takes 25-bp rate hike as won rebounds against dollar

South Korea’s central bank raised the base interest rate by 25 basis points to 3.25% during its monetary policy board meeting on Nov. 24, slow...

Korean chipmakers Fast-shrinking chip lead time clouds semiconductor industry’s future

The global semiconductor industry has been plagued by a chip shortage for a couple of years with automakers and other manufacturers struggling to se...

Economy Falling Korea current account surplus heightens economic woes

South Korea’s current account surplus has shrunk on falling exports, adding to concerns over a slowdown in Asia’s fourth-largest economy...

Corporate strategy Korea Inc. accumulates cash as economic downturn deepens

South Korean companies, led by the country’s most valuable firm Samsung Electronics Co., have rushed to accumulate cash as interest rates kept...

Economy Robust consumer spending in South Korea despite economic downturn

A buyer who works for the men's fashion division of a South Korean department store had trouble sleeping ahead of the fall sale that ran from Sept. ...

Korean startups Despite liquidity crunch, 5 verticals rake in venture capital investment

The global venture capital ecosystem has been contracting since the second quarter of last year, hit by rising inflation and rate hikes. New ...