economic 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...

Economy Korea’s Q1 economic contraction adds to stimulus expectations

South Korea's economy unexpectedly contracted in the first quarter as exports and consumption fell amid a political crisis and fears over the impact...

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...

Central bank BOK stands pat; rate cut likely within 3 months as economic growth slows

The Bank of Korea (BOK) left its benchmark interest rate unchanged at 2.75% on Thursday, with Governor Rhee Chang-yong warning that a surge in globa...

Retail Koreans cut spending in March, except on health, education

South Korean consumers exhibited recessionary spending behavior in March, cutting expenditures across nearly all sectors, except healthcare and educ...

Retail Koreans cut spending in March, except on health, education

South Korean consumers exhibited recessionary spending behavior in March, cutting expenditures across nearly all sectors, except healthcare and educ...

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...

Mergers & Acquisitions Meta in talks to acquire Korean fabless chip startup FuriosaAI: Forbes

Meta Platforms Inc., the parent of Facebook and Instagram, is in talks to acquire Seoul-based AI chip startup FurisosaAI Inc. and the discussion cou...

Tech, Media & Telecom South Korea’s alternative data pioneer KED Aicel in full force

South Korea’s leading alternative data service provider Hankyung Aicel Inc. is poised to transform companies' and investors’ business an...

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 Korea’s 2024 exports hit all-time high, driven by chips, shipments to China

South Korea’s exports, the country’s main growth driver, reached an all-time high in 2024, buoyed by strong semiconductor exports and a ...

Business & Politics Korea’s new acting president assures economy resilient, security tight

South Korea’s new Acting President Choi Sang-mok said on Friday he is confident that the country’s economy is resilient and its national...

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...

Economy South Korea’s economic system remains resilient: finance minister

The South Korean economy is solid, and the government will take “bold and swift’’ actions if needed to stabilize Asia’s four...

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 Korean economic policy chiefs play down martial law impact

South Korea’s Finance Minister Choi Sang-mok said on Friday that President Yoon Suk Yeol’s failed martial law attempt will have a very l...

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...

Economy State-run think tank KDI slashes GDP forecast, urges BOK to cut rates

The Korea Development Institute (KDI), South Korea’s state-run think tank, has slashed its forecasts for the country’s economic growth f...

Economy Korea’s economy sees slower-than-expected rebound in Q3

South Korea’s economy rebounded slower than central bank expectations in the third quarter on sluggish exports, adding to predictions that the...

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...

Central bank BOK signals autumn rate cut as inflation, economic growth slow

South Korea’s central bank is likely to reduce interest rates in the next three months as inflation is expected to ease amid a slowdown in Asi...

Companies Hyundai AutoEver wins $66 mn public safety contract in Angola

Hyundai AutoEver Corp., a software subsidiary of Hyundai Motor Group, secured consecutive contracts to build public safety systems in African countr...

Korean stock market South Korean stocks rebound but still on rollercoaster

South Korean stocks on Tuesday recouped some of their hefty losses caused by the previous day's global panic selling after financial authorities iss...

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...

Foreign exchange Korean won hits 15-year low in Q2 amid FX, economic uncertainty  

The South Korean currency fell to its lowest level against the US dollar in 15 years in the second quarter amid growing uncertainties surrounding gl...

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...

Business & Politics S.Korea, UAE sign economic partnership, reaffirm $30 bn investment

South Korea and the United Arab Emirates on Wednesday signed a comprehensive economic partnership agreement (CEPA) to facilitate bilateral trade aft...