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South Korea’s economy has come under direct impact as US President Donald Trump signed an executive order on Saturday imposing tariffs on Mexico, Canada and China, raising concerns about a prolonged global trade war. Industry experts warned on Sunday that Korea, heavily dependent on exports, could face significant setbacks if Trump’s tariff war escalates. Major companies, including Samsung Electronics, have manufacturing plants in Mexico and additional trade restrictions could disrupt their supp
Chipmakers enhance performance with advanced chip packaging technologies The rapid expansion of artificial intelligence is reshaping the global semiconductors industry, driving an unprecedented surge in demand for faster, smaller and more energy-efficient chips. This year, the global semiconductors market is expected to grow by about 15 percent, backed by the AI boom, according to market tracker IDC. To meet growing demand for high-end logic process chips and high-bandwidth memory capable of pro
The number of aircraft operated by South Korean airlines hit an all-time high last year, surpassing 400, with around 50 new aircraft expected to be added to the country's aviation sector, data showed Sunday. According to data from the Ministry of Land, Infrastructure and Transport, submitted to Democratic Party of Korea Rep. Lee Yeon-hee, a total of 12 Korean airlines operated 416 aircraft as of the end of last year -- 374 passenger planes and 42 cargo aircraft. This figure marks an increase of
Korean building materials company LX Hausys announced on Thursday that it is stepping up its expansion in the North American flooring market by taking part in the region’s largest flooring exhibition. In its second consecutive year at The International Surface Event, the company showcased a diverse range of flooring solutions for both residential and commercial spaces from Tuesday to Thursday in Las Vegas, US, alongside over 700 flooring and construction materials companies. LX Hausys has been f
Fate of multibillion-dollar US investments in the balance under Trump 2.0 Korean chipmakers are on edge over the fate of their substantial investments in building advanced fabs in the US, following remarks from US President Donald Trump's pick to lead the Commerce Department, Howard Lutnick, who revealed the administration's intention to review the critical subsidies promised by the previous administration. Lutnick, a billionaire financier, called former President Joe Biden's CHIPS and Science A
Lotte GRS, once overshadowed by doubts over taste and image, to breach 1 trillion won sales mark again after 7 years Burger chain Lotteria, under Lotte Group’s food franchise arm Lotte GRS, is making a bold comeback, burning away its stale reputation with a flavorful rebranding. Industry insiders predict that Lotte GRS will break through the 1 trillion won ($694 million) sales barrier for the first time after a seven-year stagnation. Lotteria is leading the charge, contributing over 70 percent o
Local firms set to conduct eight rocket blastoffs throughout this year Korean companies are gearing up to mark this year as the true opening of the private sector-led space economy for the country with eight launches of space rockets -- the most the country’s ever seen in a year -- set for blastoff throughout 2025. According to the Ministry of Science and ICT as well as Korea’s space firms on Friday, Hanwha Aerospace has been bustling as it gets ready to carry out the fourth launch of the homegr
MBK warns of criminal accusation; Korea Zinc invites rivals on board After four months of power struggle and a 13-hour shareholder meeting on Thursday, the battle over management control of the world’s largest refined zinc smelter Korea Zinc is likely to continue. While the thwarted MBK-Young Poong coalition signaled its intent to press criminal charges, Korea Zinc suggested collaborating with its rival, inviting MBK Partners to join its management. On Thursday, Korea Zinc's current management t
LG Electronics said Friday it would become the largest shareholder in Bear Robotics by exercising a call option to acquire an additional 30 percent stake in the US-based robotics firm. The decision, made during a board meeting Thursday, will raise LG’s total ownership in Bear Robotics to 51 percent, enabling it to take over management control and incorporate the US company as a subsidiary, the home appliance maker said. In March, LG invested $60 million to acquire a 21 percent stake in the US fi
South Korea’s leading brokerage house Mirae Asset Securities plans to inject around 290 billion won ($202 million) into its Indian subsidiary, aiming to expand its presence in the fast-growing country. Mirae Asset Securities will purchase 1.44 billion shares of its Indian affiliate Mirae Asset Capital Market (India) Pvt. Ltd., by allocating 288.7 billion won, according to a regulatory filing made by the firm Thursday. “The money allocated through the capital raise will be used to expand the busi
Despite strong 2024, Shinhan Financial’s profit dips in Q4
Use of facial recognition grows in Korean finance, with Toss in lead
Top hotel chains eye Hilton Seoul redevelopment
LG CNS posts record profit in 2024
LG CNS becomes Korea’s first SAP Asia-Pacific strategic services partner
KB Financial logs industry's first W5tr annual earnings