extra budget

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...

Economy South Korea to boost aid for chipmakers to $23 billion, expanding extra budget

South Korea’s government is planning to increase support for chip makers to around $23 billion, proposing a bigger-than-expected supplementary...

IPOs LG Electronics set for early-May Indian stock market debut

LG Electronics Inc. is set to list its wholly owned subsidiary in India on the country's stock exchange in early May, aiming to raise up to $1.5 bil...

Energy Trump-driven energy boom spurs Korean firms to hike US gas investments

WOODFORD, Oklahoma – A shale gas field in Woodford, Carter County was bustling with activity on Feb. 25.A team of engineers oversaw the drilli...

Airlines Sono Hospitality becomes new owner of Korean budget carrier T’way Air

South Korea’s top resort operator Sono Hospitality Group has emerged as the new owner of budget carrier T’way Air Co. by acquiring ...

Business & Politics Korea sharply cuts 2025 growth forecast, opens door for extra budget

South Korea sharply lowered its economic growth forecast for this year amid the prolonged political turmoil following President Yoon Suk Yeol’...

Economy Opposition-controlled Korean Parliament passes slashed $470 bn budget

South Korea's opposition-controlled National Assembly on Tuesday passed a government budget bill for 2025, slashed from the government's proposal am...

Airlines Korean Air-Asiana merger to spur M&A among budget carriers

Korean Air Lines Co.'s anticipated acquisition of Asiana Airlines Inc. is expected to spur domestic budget carriers to seek mergers, with the two do...

Electronics LG Display to invest extra $1 bn in Vietnam OLED plant

LG Display Co. will invest an additional $1 billion in Vietnam over the next five years to ramp up organic light-emitting diode (OLED) panel output,...

Robotics Hyundai Movex to lead S. Korea’s unmanned robot project

South Korea’s Hyundai Movex Co. was selected to lead the design of a high-precision large autonomous mobile robot (AMR) platform and integra...

Electronics Samsung’s Galaxy S24 FE: Budget smartphone packed with AI functions

Samsung Electronics Co. on Friday unveiled the Galaxy S24 FE, the latest addition to its AI-enabled smartphones series, with which the South Korean ...

Corporate strategy Hyundai's Chung to nurture Czech plant as hub for eco-friendly mobility

Hyundai Motor Co. Executive Chairman Chung Euisun has vowed to turn the South Korean automotive conglomerate’s plant in the Czech Republic int...

Culture & Trends Korea to launch regular K-content festival in June

South Korea plans to host a regular event showcasing its cultural products such as K-pop and foods in June of next year with the goal of making the ...

Aerospace & Defense Hyundai Rotem’s earnings, shares set to rise; defense deals in the offing

Hyundai Rotem Co., a South Korean railway system and defense equipment maker under Hyundai Motor Group, is expected to clinch large defense deals in...

Food & Beverage Orion seeks M&As, facility expansion with dividends from China, Vietnam

Orion Holdings Corp., a leading South Korean confectionery and snack maker, has been active in overseas markets for decades, particularly in China a...

Electronics Samsung’s Circle to Search available on Galaxy A series to rival Xiaomi

Samsung Electronics Co. has been battling Apple Inc. in the high-end smartphone segment with its premium Galaxy S series packed with advanced featur...

Chemical Industry LG Chem promises extra $14.4 million in aid over Indian gas leak

South Korea’s top chemicals maker LG Chem Ltd. said on Wednesday it will offer an additional 1.2 billion Indian rupees ($14.4 million) in huma...

Energy Hanwha, Taihan to spur global sales of extra-high voltage cables

Hanwha Solutions Corp., the chemical and renewable energy unit of South Korea’s No. 7 conglomerate Hanwha Group, and Taihan Cable & Soluti...

Rights offerings Kolon to invest additional $9 million in ride-hailing Papa Mobility

South Korea’s Kolon Group plans to invest an additional 12.4 billion won ($9.1 million) in Papa Mobility Co., bringing its total investment in...

Artificial intelligence LG Elec expands workforce to enhance AI cyber security

LG Electronics Inc., the leading global home appliance maker, is actively increasing its workforce to improve artificial intelligence cyber security...

Korean chipmakers Samsung to receive over $6 bn in US chip subsidies, eyes extra investment

South Korean tech giant Samsung Electronics Co. is expected to receive more than $6 billion in US chip subsidies as the Joe Biden administration is ...

Energy S.Korea to up the ante on small modular reactor foundry business

South Korea will nurture the small modular reactor (SMR) foundry business to revive the country’s nuclear power industry by rolling back the p...

Korean food Bulgogi & ramyun top Jeju Air's in-flight menu in 2023

South Korea'st budget carrier Jeju Air Co. announced on Monday that its most popular in-flight meals and cabin cafe items in 2023 were bulgogi deopb...

Electronics Samsung to unveil budget phone Galaxy A25

Samsung Electronics Co. announced on Thursday that it will launch the Galaxy A25 5G, a new budget phone in the South Korean market on Jan.5.It featu...

Airlines Air Premia posts first-ever quarterly profit

Air Premia Inc., a South Korean budget carrier, on Thursday reported its first-ever quarterly profit in the third quarter of this year, fueled by a ...

Future mobility Hyundai Motor’s Uniwheel offers new paradigm for future mobility

Mobility has evolved at an incredible pace over the years. But there’s one thing that hardly changes – the configuration of the drivetra...

Bio & Pharma Korea to invest $200 mn in new drugs, vaccines by 2028

South Korea’s health ministry will allocate 261.6 billion won ($200.2 million) for two funds over the next four years to boost private sector ...

Aerospace & Defense Hanwha Systems to develop extra-large UUV platform technology

Hanwha Systems Co., the defense and air mobility unit of Hanwha Group, will develop technology that will pave the way for the development of Korea-m...

Food & Beverage Spicy food craze sweeps South Korea

South Korea, famous for the spicy kick in its cuisine, is going the extra mile to turn the nation red hot with extremely spicy food, believed by Kor...