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Real estate Asia Property to buy WeWork building in Seoul

Seoul-based real estate investment firm Asia Property has been picked as the sole preferred bidder for an office building currently occupied by cowo...

Real estate NPS closes $1.6 bn Korean office deal; scientists pension eyes NCSOFT building

The National Pension Service (NPS) has completed the purchase of One Grove for 2.3 trillion won ($1.6 billion), its largest single real estate inves...

Retail S.Korean gov't to lift two-bottle limit on duty-free alcohol

South Korean government will lift the number restriction of duty-free alcohol bottles for inbound travelers and halve the patent fees to boost the d...

Korean food CJ CheilJedang launches protein snack O-right Tempeh Chips in Thailand

CJ CheilJedang Corp. accelerates its business expansion in Thailand with a new protein snack.CJ CheilJedang announced on Monday that it has launched...

Tech, Media & Telecom LG Uplus offers Korean Air gift cards to 5G subscribers

South Korea’s LG Uplus Corp. is expanding benefits for subscribers of its online-exclusive prepaid plan Nugget, including offering Korean Air ...

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...

Economy S.Korea beats Japan in GNI per capita for 1st time in 2023

South Korea outstripped Japan in terms of per capita gross national income (GNI) for the first time in 2023, central bank data showed, with the Japa...

Foreign exchange Korean won at 17-month low on Middle East woes, Fed rate view

The South Korean won currency on Tuesday fell to its weakest level in 17 months, briefly touching the psychologically important 1,400 per dollar lev...

Korean chipmakers Samsung to unveil 3D DRAM in 2025 to lead AI chip market

Samsung Electronics Co., the world’s top memory chipmaker, aims to introduce three-dimensional (3D) DRAM, a game-changer in the artificial int...

Logistics CJ Logistics introduces LoIS Parcel system

South Korea's CJ Logistics announced on Tuesday that it completed the nationwide implementation of its next-generation parcel system LoIS Parcel.T...

Airlines S.Korea, Kazakhstan agree to expand air transport rights

South Korea and Kazakhstan have agreed to expand air transport rights during the South Korea and Kazakhstan aviation talks held in Almaty, Kazakhsta...

Economy S.Korea’s GNI per capita rebounds in 2023 as won stabilizes

South Korea’s gross national income (GNI) per capita rebounded last year as the won currency stabilized amid signs of a recovery in exports fr...

Batteries POSCO Future M to import natural graphite from Africa

South Korea’s only anode materials producer POSCO Future M Co. will import a maximum 60,000 tons of natural graphite products from Balama Grap...

Korean startups Korea announces 1st local firm to issue multiple voting shares

South Korea announced on Wednesday that Colosseum Corporation Inc., an artificial intelligence-powered logistics services provider, has become the f...

Bio & Pharma Daewoong Pharmaceutical digitizes DB of 800 mn chemical compounds

South Korea's Daewoong Pharmaceutical announced on Monday that it has established a drug development system Daewoong AI System (DAISY) which combine...

Travel & Leisure Number of foreign tourists visiting Korea surpasses 11 million in 2023

The number of foreign tourists visiting Korea last year exceeded 11 million, reaching 63% of the pre-COVID level, with over 1 million arrivals month...

Petrochemicals Kumho Petrochemical accelerates CCUS push with CO2 capture plant

Kumho Petrochemical Co., South Korean petrochemical major, is accelerating its inroads into the carbon capture, utilization and storage (CCUS) marke...

Foreign exchange Won strengthens past 1,300 mark vs dollar on short-sale ban

The South Korean won continued its bull run on Monday, strengthening past the psychologically important barrier of 1,300 level against the dollar fo...

Korean startups TUNiB launches multi-persona AI chatbot DearMate

South Korean generative artificial intelligence (AI) startup TUNiB on Thursday announced the launch of DearMate, a mobile app for free conversatio...

Batteries LG Chem to supply cathode materials to Toyota's N.American plant

LG Chem Ltd. will supply cathode materials to Toyota Motor's North American battery plant, with the South Korean company concluding its second long-...

Bio & Pharma Lotte Biologics to break ground on 1st local CDMO plant in 2024

South Korea’s Lotte Biologics Co. is set to start building its first local facility for drug manufacturing next year, aiming for 400,000 liter...

Food & Beverage Nestlé seeks to open Starbucks brand stores in Korea

Nestlé S.A., the world’s largest food company, is preparing to open small Starbucks brand stores in South Korea to attract budget-consc...

Foreign exchange Koreans' Japanese yen savings hit record high in July

South Korean investors continued gobbling up the Japanese currency, which has remained weak against the Korean currency after retreating from a one-...

Batteries Doosan to enter EV sector with battery recycling business

South Korea’s major power plant builder Doosan Enerbility Co. plans to set up a battery recycling subsidiary, targeting the sector expecting r...

Beauty & Cosmetics Bain Capital in talks to buy Korean aesthetic device maker Ilooda

Ilooda, a South Korean medical aesthetic devices maker valued at around 200 billion won ($158 million), is likely to sell its management rights to U...

Pre-IPOs SK Pharmteco to raise $500 mn in pre-IPO, aims for 2025 listing

SK Pharmteco Co., South Korean conglomerate SK Group’s contract development and manufacturing organization (CDMO), is set to raise $500 millio...

Steel POSCO gears up for big stride as green materials firm with Hyper NO

South Korea’s steel pioneer POSCO under POSCO Holdings Inc. is preparing to take another big stride as an eco-friendly materials provider with...

Artificial intelligence S.Korea to develop supercomputer for industrial use

South Korea is set to develop a supercomputer for industrial use as Asia’s fourth-largest economy lags far behind on the performance of such d...

Korean stock market Money moves from US, China to India for higher returns

For investors looking for higher returns in emerging markets, India is undoubtedly a market darling.The Asian country, widely expected to become the...

Hydrogen economy Hanyang, Linde to inject $800 mn for hydrogen cluster in Korea

Hanyang Corporation Ltd., a South Korean construction firm, will join forces with German industrial gases and engineering company Linde AG to create...