per-capita grain consumption

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...

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...

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...

Travel & Leisure S.Korean overseas card spending posts record $5.71 bn in Q3

With the increase in international travel during the summer, overseas card spending by South Korean residents reached a record high in the third qua...

Economy South Korea’s Economy Picks Up But Still Disappoints

South Korea’s economy was weaker than expected in the third quarter, weighed by lackluster exports, though it improved from the previous quart...

Economy S.Korea’s Q2 GDP slows 0.2%, upholds rate cut expectations

South Korea’s economic growth slowed in the second quarter on weaker domestic consumption and investment by private businesses, heightening ex...

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 ...

Travel & Leisure S.Korean travelers splurge in Japan on softer yen

South Korean travelers spent a total of 431.4 billion won ($312 million) through debit and credit cards in Japan in the first half of this year, twi...

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...

Economy Korea’s April factory output rebounds amid weak consumption

South Korea’s factory production rebounded in April on healthy manufacturing while domestic consumption and capital expenditures dipped, indic...

Airlines Eastar Jet introduces fuel efficiency analysis program

South Korea's low-cost carrier Eastar Jet announced on Friday that it will be the first domestic budget airline to introduce the Fuel Analytics prog...

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...

Leadership & Management Sindoh to tap ex-STIC Investments exec Seo as CEO, spur M&As

Sindoh Co., a leading manufacturer of multi-functional printers in South Korea, is set to tap an investment banking expert as its chief executive. W...

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...

Economy S.Korea’s factory output, consumption dwindle in October

South Korea’s factory activity waned last month, snapping a recovery streak in the previous two months, largely due to a drop in chip producti...

Infrastructure STX to develop Gargoub port in Egypt with grain silos

STX Corp., a South Korean general trading company, is expected to develop a Mediterranean port in Egypt and build grain silos at the port, a move ex...

Economy KDI cuts Korea growth forecasts, ups inflation predictions

A South Korean government think tank has cut its growth forecast in Asia’s fourth-largest economy for this year and next but raised inflation ...

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...

ESG SK Geo Centric switches to recycled materials for petchem packaging

South Korea’s SK Geo Centric Co. is using recycled materials for product packaging as it aims to transform itself into a green petrochemical p...

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...