Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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S. Korea votes in favor of Palestinian bid for UN membership
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Farming households dip below 1m for first time in 2023
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Google to suspend political ads in S. Korea ahead of general election
Google has decided to suspend all politics-related advertisements on its services in South Korea ahead of the upcoming general election next month, according to industry sources Sunday. According to the sources, Google recently posted a notice saying that it will not support political ads during South Korea's election period. The decision will apply uniformly across Google services, including YouTube, Google search and the Google Play Store. The decision appears to have been made to prevent
CompaniesMarch 31, 2024
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March inflation estimated to reach 3.2 %
South Korea's consumer prices increase is estimated to stay above 3 percent for the second month in March on energy price and foreign exchange variables, market reports showed Sunday. The country's March inflation outlooks estimated by eight securities firms, including NH Investment & Securities, Kyobo Securities, Meritz Securities and DB Financial Investment, averaged at 3.2 percent. In January, inflation fell below 3 percent for the first time since July 2023, when the figure cam
EconomyMarch 31, 2024
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Foreign investors net purchase record amount of S. Korean stocks in Q1
Foreigners net purchased over 15 trillion won worth of local shares in the first three months of the year, breaching the 15 trillion-won mark for the first time in history, data showed Saturday. Foreign investors scooped up a net 15.77 trillion won ($11.7 billion) worth of shares in the first quarter, the highest quarterly figure since the country's main stock exchange KRX began compiling such data in 1998. The previous record was 14.79 trillion won tallied in the third quarter of 2009, acc
MarketMarch 30, 2024
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Hyosung honorary chair dies at 89
Hyosung Group Honorary Chair Cho Suck-rai, the father of incumbent Chair Cho Hyun-joon, died of a chronic disease at the age of 89, according to industry sources Friday. It has been seven years since he stepped down from his top management post in 2017 due to his advanced age and health. Born as the eldest son of Hyosung founder Cho Hong-jai in 1935, Cho Suck-rai pursued his academic interests in chemistry at Japan's Waseda University and earned a master's degree in chemical engineerin
IndustryMarch 29, 2024
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Hahn & Co shakes up Namyang Dairy's board to cement control
Private equity company Hahn & Co has taken over the boardroom of Namyang Dairy Products to put an end to 60-year family ownership of the dairy firm. During the regular shareholders meeting held at Namyang’s headquarters in southern Seoul on Friday, officials from Hahn & Co were appointed as inside directors, while Lee Myung-Chul, chair of Institut Pasteur Korea, was appointed as an outside director. Previous directors, including Hong Won-sik, chair of Namyang Dairy Products, steppe
CompaniesMarch 29, 2024
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Daughter of late Samsung chairman becomes Samsung C&T president
Lee Seo-hyun, the second daughter of late Samsung Group Chairman Lee Kun-hee and the younger sister of Samsung Electronics Chairman Lee Jae-yong, is returning to the management as she takes the post of president at Samsung C&T. Samsung C&T, the construction and energy arm of Samsung Group that acts as a holding company for major affiliates of the group, said Friday that it named Lee as the president, who is in charge of the company’s strategy planning. “She is expected to con
IndustryMarch 29, 2024
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More S. Koreans voice dissatisfaction with overseas e-commerce platforms in 2023
More South Korean consumers expressed dissatisfaction with their experiences shopping directly via online platform services based overseas last year, partly attributed to Chinese e-commerce platform AliExpress tapping deeper into the Korean market as well as greater demand for overseas travel among Koreans using online travel agency services based in Singapore, according to the Korea Consumer Agency. According to the KCA on Friday, the total number of requests for advice and reports of disputes
ConsumerMarch 29, 2024
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Banks rush to cough up misselling compensation
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would carry out the compensation procedure, accepting the voluntary-basis plan suggested
IndustryMarch 29, 2024
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Baemin pays out W400b in dividends to Delivery Hero
South Korea’s leading food delivery app Baedal Minjok, or Baemin, posted a 65 percent growth in operating profit last year, achieving a significant surplus for the second consecutive year. As a result, its German parent company, Delivery Hero, received some 412.7 billion won ($306 million) in dividends for the first time since acquiring Baemin. Baemin's app operator Woowa Brothers announced Friday that its consolidated sales reached 3.41 trillion won last year, marking a 15.9 percent
IndustryMarch 29, 2024
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[Investor] Korea M&A Exchange secures investment from Japan
Korea M&A Exchange, Korea's premier M&A trading platform, has successfully secured a 500 million yen ($3.35 million) investment from Nihon M&A Center, Japan's leading M&A trading platform. A ceremony to mark the agreement between Korea M&A Exchange and Nihon M&A Center was held Thursday at Korea M&A Exchange headquarters in Yeouido, Seoul. As part of the agreement, Nihon M&A Center will acquire approximately 10 percent of Korea M&A Exchange's sh
IndustryMarch 29, 2024
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Seoul shares end almost flat ahead of key US inflation report
South Korean stocks finished nearly unchanged Friday as investors took a wait-and-see stance ahead of a key US inflation report that would set the tone for the Federal Reserve's rate-setting decision. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 0.81 point, or 0.03 percent, to close at 2,746.63. Trade volume was moderate at 485.5 million shares worth 11 trillion won ($8.17 billion), with losers beating winners 603 to 270. Foreign inves
MarketMarch 29, 2024
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City Oil Field to export oil coverted from waste plastic to Vietnam
South Korean environmental and energy solution provider City Oil Field, said Friday it signed a contract to supply decomposition oil derived from waste plastic to Vietnam’s Nam Anh Joint Stock Company. City Oil Field CEO Jeong Yeong-hun and Nam Anh JSC CEO Van Vien Thong signed the purchase agreement at the Vietnam firm’s headquarters in Ho Chi Minh, Thursday. Under the contract, City Oil Field will supply plastic waste derived oil including naphtha produced from its facilities in So
IndustryMarch 29, 2024
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Hana Financial teams up with Credit Agricole to expand presence in Europe
Hana Financial Group, one of South Korea's top four finance conglomerates, has joined hands with Credit Agricole Corporate and Investment Bank to strengthen cooperation in expanding its business in Europe, the firm said Friday. The two entities have signed an agreement to expand cooperation in corporate and investment banking, treasury and trade finance, and financing for environment, social and governance-related initiatives. Hana Financial Group Vice Chair Lee Eun-Hyung, Xavier Musca, the
IndustryMarch 29, 2024
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Dongwon Group heir promoted to chair
Dongwon Group Vice Chairman Kim Nam-jung, second son of the group's founder and honorary chairman Kim Jae-chul, was promoted to chairman at the group's board meeting held Thursday. Kim’s promotion fills the position which had been vacant for five years since the retirement of the honorary chairman in 2019. "We will inherit the achievements and management philosophy of honorary chairman Kim Jae-chul, who has led the Dongwon Group for the past 50 years, and discover future g
IndustryMarch 29, 2024
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Samsung opens AI TV experience zone in Singapore Changi Airport
Samsung Electronics said Friday it has opened a new TV experience zone in Singapore's Jewel Changi Airport -- the lush entertainment and retail complex connecting Changi Airport's terminals 1, 2 and 3 -- to introduce its latest products. The tech giant will display there its newest products, including the 2024 Neo QLED 8K TV, equipped with a third-generation artificial intelligence 8K processor, and OLED TVs that preserve color accuracy and reduce reflections while maintaining image sh
IndustryMarch 29, 2024
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Industrial output rises for 4th month; retail sales fall in February
South Korea's industrial output rose for the fourth consecutive month in February on the back of increasing semiconductor production, but retail sales fell amid high inflation, data showed Friday. Industrial output increased 1.3 percent on-month last month, following a 0.4 percent rise the previous month, according to the data compiled by Statistics Korea. Industrial production has been on a constant increase since December. Last month's growth came as the output in the overall mining
EconomyMarch 29, 2024
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Seoul shares start nearly flat ahead of US inflation data
South Korean stocks opened almost unchanged Friday ahead of a key inflation report from the United States. The benchmark Korea Composite Stock Price Index added 0.13 point to 2,745.95 in the first 15 minutes of trading. US stocks finished mixed Thursday, as the Dow Jones Industrial Average edged up 0.12 percent and the Nasdaq composite lost 0.12 percent. US core personal consumption expenditures price index data, the Fed's preferred gauge of inflation, is slated for Friday. In Seoul, market
MarketMarch 29, 2024
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Hanmi-OCI merger called off
The expected merger between OCI Group and Hanmi Group has been called off after a general meeting of shareholders at Hanmi Science, the holding company of Korea's leading drug firm Hanmi Pharmaceutical, on Thursday. The management conflict within the founding family has also temporarily ended as Lim Jong-yoon and Lim Jong-hoon, the first and second sons of founder Lim Sung-ki, secured enough seats on Hanmi Science’s board to stop the merger. "(OCI) humbly accepts shareholders
IndustryMarch 28, 2024
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Seoul shares down for 2nd day ahead of US inflation data
South Korean stocks ended slightly lower Thursday ahead of the release of a key US inflation report due later this week and on remarks by a Fed official that more data are necessary to cut rates. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index lost 9.29 points, or 0.34 percent, to close at 2,745.82. Trade volume was moderate at 412.5 million shares worth 11.7 trillion won ($8.69 billion), with losers beating winners 561 to 290. Institutions remain
MarketMarch 28, 2024
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Korea’s CMO ramp-up lures biotech investors
South Korea’s growing biopharmaceutical production capacity is increasingly making the country an attractive investment destination for global life science companies, industry sources said Thursday. Since 2016, global pharmaceutical and biotech firms started building their research and development centers and production facilities in Korea, especially within the Songdo Bio Cluster in Incheon, where the biopharmaceutical production capacity has reached 1.2 million liters, the world’s
IndustryMarch 28, 2024