unfair practice

Regulations FTC fines Kakao Mobility $55 mn for alleged unfair taxi-hailing service

South Korea’s antitrust body has fined Kakao Mobility Corp., the country’s largest taxi-hailing app operator, 72.4 billion won ($54.9 mi...

Korean stock market KRX launches Korea Value-up Index featuring 100 best practice firms

South Korea’s securities exchange operator, Korea Exchange, launched a new corporate value-up index on Tuesday, a key plank for the government...

Banking & Finance Activist fund KCGI to buy Hanyang Securities for $180 mn

South Korean private equity firm KCGI Co. is expected to acquire local brokerage house Hanyang Securities Co. for 244.9 billion won ($179.8 million)...

Corporate governance Hanwha Vision joins UNGC

South Korea's Hanwha Vision Co. announced on Monday that it joined the United Nations Global Compact (UNGC), an international initiative for corpora...

Automobiles Hyundai Motor unveils 2024 Kona

Hyundai Motor Co. announced on Tuesday that it unveiled the 2024 model of its best-selling electric vehicle (EV) compact sports utility vehicle (SUV...

Electric vehicles France’s new EV subsidy bill may violate Korea-EU FTA: KITA

The South Korean auto industry has called for an amendment in France’s new subsidy policy for electric vehicle purchases after voicing concern...

Business & Politics American patent trolls target S.Korean companies

Over 80% of American companies that sued South Korean companies for patent infringement last year were non-practicing entities (NPE), or “pate...

Debt financing Hyundai-LG’s Indonesia battery financing chosen as Asia deal of 2022

The $711 million financing organized by Hyundai Motor Co. and LG Energy Solution Ltd. last year for their battery joint venture in Indonesia has bee...

Regulations SGC Group slapped with over $7.7 mn fine for unfair internal trade

The Fair Trade Commission (FTC) has imposed a fine of more than 10 billion won ($7.7 million) on SGC Group companies for unfair internal transaction...

Regulations S.Korea rejects Broadcom’s corrective steps on unfair biz

South Korea’s antitrust body dismissed corrective measures proposed by US chipmaker Broadcom Inc. to avoid penalties over its alleged unfair b...

Travel & Leisure Chinese buy cosmetics, Japanese pick groceries in Korea: Survey

Foreign visitors to South Korea show different purchasing preferences by nationality, a survey found. A majority of Chinese travelers' top picks are...

Carbon neutrality HMM reduces CO2 emission more than half in last 10 years

South Korea's No. 1 container line HMM Co. announced on Wednesday that it has achieved a remarkable 57.7% reduction in carbon dioxide emissions duri...

Aerospace & Defense S.Korea sets Nuri space rocket’s third launch on May 24

South Korea will conduct a third attempt to launch its first domestically designed and developed space rocket Nuri on May 24. The Ministry of Scien...

Construction Hyundai E&C, Samsung C&T to jointly establish construction robot ecosystem

Hyundai Engineering & Construction and Samsung C&T Corp.'s construction unit andannounced on Tuesday that they have signed a strategic bus...

Construction Eugene Corp. develops concrete production simulation system

South Korea's Eugene Corporation, which specializes in ready-mixed concrete and construction material distribution, announced on Wednesday that it h...

Fraud scandals Hankook Tire chairman arrested for alleged embezzlement

The head of Hankook Tire & Technology Co., South Korea’s top tire maker, was arrested on Thursday on charges of embezzlement, breach of tr...

Business & Politics Kakao Mobility fined $20 million over unfair taxi-hailing service

Kakao Mobility Corp., South Korea’s largest taxi-hailing app operator, has been fined 25.7 billion won ($20.3 million) for discriminating agai...

Samsung Group Samsung Heavy succeeds in autonomous navigation system demonstration 

Samsung Heavy Industries Co. announced on Thursday that it successfully completed the demonstration of its autonomous navigation capabilities in the...

Earnings Kakao's Q3 profit drops 12% on games, data center construction

South Korea’s mobile platform giant Kakao Corp. announced its third-quarter earnings on Nov. 3, including quarterly operating profit of 150.3 ...

Regulations Broadcom applies for consent order on unfair deals with Samsung

US chipmaker Broadcom Inc. applied for a consent order to the Korea Fair Trade Commission (KFT) in July against allegations that it forced Samsung E...

Retail Korea’s GS Retail fined $18.7 million over unfair dealings with contractors

South Korea’s antitrust regulator on Tuesday slapped GS Retail Co., a GS Group unit that operates the country’s second-largest convenien...

Economy Yellen calls for trade overhaul to diversify from China

SEOUL—Treasury Secretary Janet Yellen called for a reorientation of the world’s trading practices in the wake of Russia’s invasion...

Corporate investment SK Innovation to focus on small reactors, batteries, waste recycling

SK Innovation Co., the refinery and chemicals unit of South Korea’s second-largest conglomerate SK, is accelerating a shift toward eco-friendl...

Korean startups Acqui-hire practices increase in S.Korea’s startup ecosystem

Jobis & Villains, the operator of artificial intelligence-powered accounting platform 3.3, announced that it recently acquired video messenger s...

Automobiles Online platforms emerge as new battlefield for auto sales in Korea

Visiting a car dealer’s stylish showroom to touch, feel and sometimes test drive a car before purchase has for decades been a rite of passage ...

Insurance Samsung SRA taps former KIC infra head as CEO

Samsung SRA Asset Management Co. has named its former managing director (MD) and chief investment officer Chung-Keun Kim as its new chief executive,...

Business & Politics SK Group’s Chey rebuts FTC charges of unfair business practice

South Korea’s Fair Trade Commission has imposed a fine of 1.6 billion won ($1.3 million) on SK Group Chairman Chey Tae-won and the conglomerat...

Future mobility Kakao Mobility: Unravelling Korea’s astounding growth in mobility sector

It wouldn’t be an exaggeration to say that South Korea’s mobility sector has undergone a period of rebirth in 2015 when the country&rsqu...

Markets Market boom drives more S.Koreans to become angel investors

Angel investing has become widely prevalent among South Koreans. The practice of providing capital for new and small business ventures, which were t...

Tech, Media & Telecom Antitrust body takes aim at Kakao's taxi-hailing app, Coupang

South Korea's antitrust body has launched an investigation into Kakao Mobility Corp. on allegations of discrimination against taxi drivers not subsc...