mutual aid association

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...

Leadership & Management Hyundai's Chung urges guarding against pessimism in ‘perfect storm’

Hyundai Motor Group Executive Chairman Chung Euisun on Monday urged executives and employees to guard against pessimism amid a “perfect storm&...

Automobiles Hyundai Mobis gets cybersecurity certification in Europe

Hyundai Mobis Co. has become the first Asian auto parts company to receive cybersecurity certification in Europe, which is leading the way in establ...

Automobiles Kia ranks first in customer satisfaction in India

Kia Corp. said on Tuesday that it ranked first in the mass-market brand category in the customer experience index survey recently released by India'...

Central bank BOK, Indonesia to cooperate on cross-border payments

The Bank of Korea (BoK) announced on Monday that it signed a memorandum of understanding (MOU) with Bank Indonesia (BI) for the bilateral cooperatio...

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...

Asset management Yellow Umbrella's new CIO to spur alternative investment

The Yellow Umbrella Mutual Aid Fund, a 25.4 trillion won ($18.5 billion) savings arm of South Korean small business owners, has tapped an alternativ...

Tech, Media & Telecom SK Telecom launches AI pet diagnostic solution in Australia

South Korea's SK Telecom Co. announced on Wednesday that it launched its AI-based pet diagnostic assistance service X Caliber in Australia and has b...

Business & Politics South Korea Plans $7 Billion Push to Pivot EV Battery Industry Away From China

South Korea is dedicating around $7 billion to help wean its electric-vehicle battery supply chain away from China and align more with U.S. trade gu...

Pension funds Korea's Military Mutual Aid Association starts search for new CIO

South Korea’s Military Mutual Aid Association (MMAA), which managed 10.4 trillion won ($7.7 billion) in assets as of the end of 2023, said on ...

Banking & Finance Korean savings banks swing to loss after 9 years

South Korea’s savings banks turned to the red after nine years in 2023 as they put aside heavy reserves on future loan losses, with their loan...

Foreign exchange Korea, Indonesia to facilitate bilateral trade in won, rupiah

The central banks of South Korea and Indonesia agreed to facilitate the settlement of bilateral trade in their currencies from next year as the elec...

Advertising & Marketing Innocean to enter Japanese ad market

Innocean Worldwide Inc., the global marketing communications arm of Hyundai Motor Group, announced on Monday it signed a memorandum of understanding...

Central bank BOK governor named chair of BIS financial system committee

Bank of Korea Governor Rhee Chang-yong has been appointed as the chairman of the Committee on the Global Financial System (CGFS) at the Bank for Int...

Batteries SK, Hyundai Motor's US JV, named Georgia's Deal of Year

South Korea’s battery maker SK On and Hyundai Motor Group's joint battery project in Georgia, the US, was awarded the "Deal of the Year 2023 i...

Bio & Pharma Dong-A ST, UMass to jointly research for gene therapy

South Korea's Dong-A ST announced on Friday it has signed a joint research agreement with the University of Massachusetts (UMass) Chan Medical Schoo...

Steel POSCO Group chief: steel desperately needs corporate solidarity

South Korea’s POSCO Group on Tuesday said its Chairman Choi Jeong-woo presided over the regular meeting of the World Steel Association on Su...

Energy Hyundai E&C, Poland bolster partnerships in nuclear power

Hyundai Engineering & Construction Co., a major affiliate of South Korean automaker Hyundai Motor Co., is boosting its networks in the nuclear p...

Bio & Pharma NGeneBio applies for US patent of early diagnosis tech of dementia

South Korean medical diagnostic company NGeneBio Co. announced on Thursday that it has completed the US patent application for its technology relate...

Bio & Pharma S.Korea’s aid service Boram Group enters companion animal market

South Korea’s Boram Group, whose main affiliate is an aid company, has entered the companion animal market.  Affiliates Boram Sangjo and ...

Tech, Media & Telecom LG Labs opens door to unconventional idea seekers

South Korea’s home appliance giant LG Electronics Inc. has launched LG Labs, a playground for those wanting to test unconventional ideas that ...

Batteries Deal reached on LG-Stellantis battery plant subsidy; construction resumes

All construction work at a battery joint venture in Canada between South Korea’s LG Energy Solution Ltd. and multinational automaker Stellanti...

Korean chipmakers Samsung Electronics to aid foundry clients with state-of-the-art tech

Samsung Electronics Co., the world’s largest memory chipmaker, will provide its foundry clients with state-of-the-art technology to support th...

E-commerce Coupang taps former Trump aide for political relations

South Korean e-commerce giant Coupang Inc. hired a top aide of former US President Donald Trump to expand its political network in Washington and se...

Batteries Korea-China battery minerals tie-up mutually beneficial: CNGR chief

China and South Korea stand to mutually benefit by strengthening their partnership in the battery materials business amid tougher US regulations on ...

Aerospace & Defense S.Korea's military aircraft exports to NATO get major boost

South Korea has concluded a deal with the North Atlantic Treaty Organization (NATO) on mutual recognition of certification of military aircraft airw...

Insurance DB Group, T&T Group sign agreement for business corporation

DB Group, South Korea's conglomerate, announced on Tuesday that it has signed a memorandum of understanding (MOU) for business collaboration with Vi...

Private equity MBK co-founder meets with Korean CIOs to finance 6th buyout fund

Asia’s private equity giant MBK Partners Ltd. is set to accelerate fundraising for its new fund, which is expected to become the firm’s ...

Business & Politics S.Korea business lobby group regrets past political role

The Federation of Korean Industries (FKI) on Thursday said it deeply regretted the political role it took in the previous governments and vowed to b...

Business & Politics S.Korea to send $130 mn in aid for Ukraine’s reconstruction

South Korea will aid the reconstruction of Ukraine, which is at war with Russia, through loans worth $130 million from the Economic Development Coop...