Most Popular
-
1
Yoon's approval rating plunges to all-time low
-
2
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
3
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
4
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
5
S. Korea votes in favor of Palestinian bid for UN membership
-
6
Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
-
7
[From the Scene] Monks, Buddhists hail return of remains of Buddhas
-
8
Medical schools granted enrollment quota flexibility for next year
-
9
Korean art gets spotlight at Venice Biennale 2024
-
10
Police uncover illegal gambling website made by teens, for teens
-
S. Korea's beauty exports hit all-time high of $2.3b in Q1
South Korea’s exports of cosmetics jumped around 22 percent on-year to hit an all-time high in the first quarter of this year, amid the growing international popularity of Korean culture, government data showed Tuesday. According to the Korea Customs Service, the country’s exports of cosmetic products came to $2.3 billion in the January-March period, up 21.7 percent on-year from the same three-month period last year. The export figure is the highest ever for the first quarter. South
IndustryApril 3, 2024
-
Renault Korea announces rebrand for fresh start
Renault Korea, the Korean branch of the French automotive firm, announced on Wednesday a significant rebranding initiative and the 2025 launch of the Renault Scenic E-Tech, an all-electric compact crossover SUV, in the Korean market. The announcement was made during a press conference at the Renault Seongsu flagship store in eastern Seoul. The rebranding sees Renault Korea shedding its previous moniker, Renault Korea Motors, in favor of a sleeker identity that simply reads "Renault Korea.&q
MobilityApril 3, 2024
-
Hyosung TNC pledges W1tr to build new Vietnam plant
Hyosung TNC, the fiber production unit of South Korean industrial giant Hyosung Group, said Wednesday it will invest 1 trillion won ($740 million) in Vietnam to establish a new spandex material plant. Hyosung TNC secured approval for the investment from the Vietnamese government during a city development conference for Ba Ria-Vung Tau, a local province of the Southeast Asian country, held Saturday. With the approval, the company will commence construction of a facility in Ba Ria-Vung Tau capable
CompaniesApril 3, 2024
-
Seoul shares snap 3-day rise as early rate-cut optimism fades
Seoul shares ended lower Wednesday to snap their three-day winning streak, as robust economic data in the United States spurred speculation that the US Federal Reserve will keep interest rates higher for longer. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 46.19 points, or 1.68 percent, to close at 2,706.97. Trade volume was heavy at 628.41 million shares worth 12.74 trillion won ($9.4 billion), with decliners outpacing gainers 632 to 246. Insti
MarketApril 3, 2024
-
HD Hyundai Marine Solution ready for record IPO
HD Hyundai Marine Solution, an industry leader in ship life cycle maintenance formerly known as Hyundai Global Service, has detailed a growth framework for its stock market debut as it gears up for what is expected to be Korea's largest initial public offering in the first half of 2024. The company held a press conference on Tuesday at the company's Global Research and Development Center in Seongnam, just south of Seoul, as it prepares to join the Korea Composite Stock Price Index in M
IndustryApril 3, 2024
-
Hana Bank opens nation’s largest forex dealing room
Hana Bank, South Korea's major commercial bank, opened a new dealing room -- the latest of its kind here -- in Seoul on Wednesday. Named "Hana Infinity Seoul" to signify the bank's ambition to expand its global reach, the new dealing room occupies the fourth and fifth floors of the lender's headquarters in Jung-gu, central Seoul. Spanning 2,096 square meters and with seating for 126, it is the country's largest such space, the bank states. The opening ceremony was a
EconomyApril 3, 2024
-
How did Hyundai Motor end up becoming KT's largest shareholder?
Hyundai Motor Group has become the largest shareholder of the nation's telecom giant, KT Corp. -- a rare move that is driving speculation about the carmaker's investment strategy and the possible impacts on KT's business direction. The change came as the National Pension Service, previously the largest shareholder of KT, sold some 2.88 million shares on March 20, lowering its stake to 7.51 percent from 8.53 percent, the regulatory filing showed Tuesday. This is the first time that
IndustryApril 3, 2024
-
Foreign reserves rebound, riding out strong US dollar
South Korea's foreign exchange reserves rebounded in March after a two-month decline, backed by deposits and investment gains offsetting the strong US dollar, the central bank said Wednesday. The country's foreign reserves had come to $419.25 billion as of late March, up $3.51 billion from the previous month, according to the data from the Bank of Korea. The figure advanced on-month after declining for the first two months of the year. It moved down $4.4 billion and $20 million in Janu
EconomyApril 3, 2024
-
Kakao Bank CEO joins Grab's board
Yun Ho-young, CEO of Kakao Bank, has been appointed as a new board member for Grab, the largest super-app operator in Southeast Asia, the Internet-only lender confirmed Wednesday. Yun was officially appointed as an outside director of Grab's board on Monday and will serve as a member of the board's audit committee. Yun's appointment follows the strategic partnership formed between the two companies last year. In October, Kakao Bank announced the acquisition of a 10 percent stake i
EconomyApril 3, 2024
-
Samsung, GS win record gas plant deals in Saudi Arabia
South Korean builders Samsung E&A and GS Engineering & Construction have secured a contract worth a combined total of $7.2 billion for the construction of a substantial gas plant in Saudi Arabia, the two companies announced Wednesday. The landmark deal represents the largest plant construction agreement secured by Korean companies in the kingdom. The two firms signed an engineering, procurement and construction contract with Aramco, Saudi Arabia's state-run oil giant, in Dhahran, Sa
IndustryApril 3, 2024
-
[Photo News] LG Awards for innovation
LG Group Chairman Koo Kwang-mo (center) claps at the LG Awards ceremony, held at the LG Academy in Icheon, Gyeonggi Province, on Tuesday. The awards, launched in 2019, aim to recognize innovative technologies, products and services across LG affiliates. This year, 98 teams and 724 individuals received awards, including the life science business team at LG Chem that played a role in supplying essential infertility treatments during a supply shortage. "Customers recognize unique value when th
IndustryApril 3, 2024
-
Hyundai Mobis' media platform gets digital face-lift
Hyundai Mobis, a key subsidiary of the Hyundai Motor Group specializing in automotive components, unveiled Wednesday a comprehensive refurbishment of its media website, Mobis Live, aiming to bolster its communication channels. Mobis Live serves as the firm’s official platform to provide insights into the broader mobility industry and the latest developments within the company. This revamp is a part of the strategy to solidify its position as a central hub for mobility-related narratives th
MobilityApril 3, 2024
-
[Photo News] Hyundai's new delivery robot
Hyundai Motor Group on Wednesday unveiled DAL-e Delivery, the auto giant's upgraded indoor delivery robot for use in buildings. According to the auto conglomerate, the robot, which is based on four plug-and-drive modules, can move at a speed of up to 4.32 kilometers per hour -- equivalent to the average walking pace of an adult. The robot can also load up to 10 kilograms. The robots will be dispatched to the Factorial Seongsu office building in western Seoul in the second quarter of this ye
MobilityApril 3, 2024
-
Seoul shares open lower on faded hopes for early rate cut by Fed
Seoul shares opened lower Wednesday, tracking overnight losses on Wall Street, after robust US manufacturing activity spurred speculation that the Federal Reserve will keep interest rates higher for the time being. The benchmark Korea Composite Stock Price Index fell 32.21 points, or 1.17 percent, to 2,720.95 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 1 percent to 39,170.24 and the tech-heavy Nasdaq shed 0.95 percent to 16,240.45. In Seoul, large-cap sto
MarketApril 3, 2024
-
Hyundai Motor Group becomes largest shareholder of KT Corp.
Hyundai Motor Group has become the largest shareholder of a leading mobile carrier, KT Corp., the communications service provider said Tuesday in a regulatory filing. Hyundai's status as the largest shareholder, however, requires approval from the science ministry. The change came as the National Pension Service, previously the largest shareholder of KT, sold some 2.88 million shares on the day, lowering its stake in the mobile service provider to 7.51 percent from 8.53 percent, according t
IndustryApril 2, 2024
-
Hanwha reaffirms will to pursue Austal takeover
South Korean Conglomerate Hanwha Group on Tuesday reaffirmed its willingness to continue pushing for a takeover of Australian shipbuilder Austal despite the latter’s earlier announcement to reject the former’s offer due to low chances of obtaining regulatory approvals. According to media reports and industry sources, the value of the acquisition offer has been estimated between 895 million and 1.02 billion Australian dollars ($581 million and $663 million). Noting Austal’s posi
IndustryApril 2, 2024
-
FSC ramps up benefits to bolster corporate value-up drive
Financial regulators are ramping up efforts to encourage local companies to participate in the government's initiative to bolster South Korea's market valuation. The Financial Services Commission announced a series of new incentives on Tuesday for companies improving their governance structures, including exemptions from the government's stringent auditor designation system. Under the current regulations, listed companies appointing auditors voluntarily for six consecutive years m
EconomyApril 2, 2024
-
Crypto.com makes Korean debut
Cryptocurrency exchange operator Crypto.com said Tuesday it would launch its exchange app service in Korea this month while expressing its hope for winning the regulatory nod for Korean won-based transactions soon, the company announced Tuesday. The firm said it will launch an exchange app for Korean users on April 29, enabling coin-to-coin transactions through the license earned by local exchange OK-Bit. Through the launch, Crypto.com will become the first regulated foreign player to operate a
IndustryApril 2, 2024
-
Seoul shares up for 3rd day on tech gains; won at 5-month low
Seoul shares closed higher Tuesday to extend their winning streak to a third day on strong gains in techs amid speculation that strong US data may prod the Federal Reserve to push back its rate-cut timetable. The Korean won tumbled to the lowest in over five months to the US dollar. The benchmark Korea Composite Stock Price Index rose 5.30 points, or 0.19 percent, to close at 2,753.16. Trade volume was heavy at 618.07 million shares worth 12.9 trillion won ($9.5 billion), with decliners outpacin
MarketApril 2, 2024
-
LG Energy Solution rolls out 1st battery cell at Tennessee plant
LG Energy Solution said Tuesday that it has delivered the first battery cells produced at Ultium Cells’ manufacturing plant in Tennessee to its client. The battery products made at the Tennessee site will be loaded onto General Motors’ third-generation electric vehicles, including the Cadillac Lyriq. The Tennessee plant is the second battery production site of Ultium Cells, a joint venture between LG Energy Solution and General Motors. According to LG Energy Solution, the first batte
MobilityApril 2, 2024