ecommerce slowdown

Automobiles BMW surpasses Mercedes in Korean sales for 1st time in 10 years

The top five imported car brands in South Korea underwent a major shake-up last year. BMW overtook Mercedes-Benz in sales for the first time in a de...

Automobiles Hyundai to launch 42 new cars to cope with Trump tariffs, EV slowdown

Hyundai Motor Group, the world’s third-largest automaker, plans to unveil 42 new models, including hybrids of existing cars, next year to cope...

E-commerce Luxury fashion platform Balaan files for court receivership amid slump

South Korea’s top luxury goods e-commerce platform Balaan Co. said on Monday it has filed for corporate rehabilitation with a Seoul court as t...

Automobiles Korea’s commercial vehicle sales tumble on economic slowdown

South Korea’s commercial vehicle sales are plunging on sluggish domestic demand amid a slowdown in Asia’s fourth-largest economy.Local s...

Venture capital S.Korean startup accelerators to boost overseas biz

South Korean accelerators (ACs) are turning to Southeast Asia and the Middle East market to support startups and expand their reach.ACs, companies t...

Leadership & Management Hyundai’s José Muñoz sees new Trump policy, China's rise as opportunity

LOS ANGELES – José Muñoz, freshly tapped as the next chief executive of Hyundai Motor Co., says the current market uncertainty s...

Food & Beverage S.Korea’s No.1 soju maker HiteJinro to foray into global beauty market

HiteJinro Group, South Korea’s No. 1 alcoholic beverage maker with a century-old history, has tapped cosmetics development and production as a...

E-commerce CJ ENM’s CJ Onstyle bets big on live commerce

CJ Onstyle, the at-home TV shopping and e-commerce brand of South Korea’s content and commerce powerhouse CJ ENM Co., will embark on mobile li...

Earnings EcoPro BM may cut battery materials capacity on EV slowdown

South Korea’s leading battery materials maker EcoPro BM Co. is considering reducing cathode output capacity despite continuous investments in ...

Earnings LG Energy’s Q2 profit hurt by EV slowdown, expects Q4 improvement

LG Energy Solution Ltd., one of the world’s top three battery makers, on Monday posted a smaller quarterly profit, hurt by sluggish global ele...

Petrochemicals Lotte Chemical's rating outlook cut on worsening financials

South Korea’s No. 2 petrochemicals maker Lotte Chemical Corp. has taken a hit from a lowered credit-rating outlook of the company and its majo...

Logistics Korea's LX opens Hungary terminal for Europe EV, battery logistics

LX Pantos, one of the top logistics firms in South Korea, has launched a railway terminal in Hungary for the electric vehicle and battery logistics ...

Banking & Finance Foreign banks expand Korean operations amid China’s slowdown

Major foreign banks have actively increased staff at their operations in South Korea to offset growing uncertainty in their business in China, grapp...

Asset management Fed rate cuts will be faster than market consensus: TCW

Investors tend to rush to fixed-income markets when recession risk rises. South Korean investors are no exception – retail investors have been...

Earnings EcoPro’s 2023 profit halves on softer EV demand, materials prices

South Korea’s major battery materials company EcoPro Co. saw last year’s operating profit halved from the previous year after a steeper-...

Steel Korean steelmakers mull anti-dumping suit vs Chinese, Japanese firms

Under growing pressure from increased imports of cheap Chinese and Japanese steel products, South Korean steelmakers are considering filing an anti-...

Tech, Media & Telecom Apple ordered to compensate Korean users for iPhone slowdown

An appellate court of South Korea on Wednesday ordered Apple Inc. to pay 70,000 won ($53.3) each to seven Korean iPhone users for deliberately slowi...

Tech, Media & Telecom LG Uplus to spur generative AI service for new growth: CEO

LG Uplus Corp., a leading mobile carrier in South Korea, is accelerating its generative artificial intelligence business as a new growth driver amid...

Batteries Korean battery makers’ broad restructuring hits US

SK On Co., South Korea’s No. 3 battery maker, has decided to furlough employees at one of its US battery factories in the state of Georgia to ...

Earnings Hyundai’s record Q3 profit beats Samsung; no EV output cut planned

Hyundai Motor Co. on Thursday posted its highest-ever quarterly operating profit for the July-September period, driven by robust sales of pricey car...

Tech, Media & Telecom LG’s FAST drive to combat TV set market slowdown

South Korea’s electronics giant LG Electronics Inc. is upending its TV business strategy by betting even bigger on software and content to off...

Economy Korea’s July factory output slows at fastest pace since February

South Korea’s factory output contracted at the fastest rate in six months last month on subdued global demand especially from China, while its...

Pension funds NPS logs 9.1% return in H1 2023; recovered from loss in 2022

National Pension Service (NPS) of South Korea achieved a 9.1% return on investment during the first half of this year, with assets under management ...

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...

Venture capital Vertex Ventures US upbeat for data startups

The healthcare, manufacturing, mobility and retail sectors were slower to adopt digital technologies than the telecom and e-commerce industries in...

Airlines Intense competition in S.Korea's LCC sector fuels zero-won tickets

South Korea's low-cost carriers (LCCs) since last month have waged an intense competition with the recovery of the overseas travel market. They boos...

Leadership & Management LG Group Chairman names AI, bio, clean tech as new growth engines

LG Group Chairman Koo Kwang-mo has pledged to continue investing in future-oriented businesses and human resources despite the global economic slowd...

IPOs S.Korean biotech GI Innovation's IPO draws tepid market interest

South Korean biotech GI Innovation Inc. is slated to debut on the local public market at less than half of its pre-IPO investment value, facing luke...

Economy S.Korea’s jobs in February grow at slowest pace in 2 years

South Korea’s jobs grew at the slowest pace in two years last month partly owing to a slowdown in the country’s manufacturing sector due...

Korean chipmakers System on chips: Samsung’s new high-stakes foundry business

Samsung Electronics Co. is setting its sights on system on chips (SoCs) to continue to drive growth in its foundry business amid a protracted slowdo...