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Prosecutors on Tuesday requested an arrest warrant for SPC Group CEO Hwang Jae-bok over allegations of pressuring employees to cancel their labor union membership. The Seoul Central District Prosecutors' Office said that it has sought an arrest warrant for Hwang, who has allegedly violated Korean ...
Industrial impact According to government estimates, about 250 companies, including Samsung Electronics and Hyundai Motor Group, will be subject to the 15 percent minimum rule. Authorities cautioned about a heightened impact on the auto and energy sectors, which have been benefiting from US tax i...
Rises in high interest rates led to a 49 percent surge in Korean banks' potential uncollected loans for 2023, Yonhap News reported, citing a data from the financial industry. The data released on Tuesday revealed a significant 49 percent increase in the potential uncollected loans held by four maj...
A recent poll indicated that business sentiment in South Korea for March has continued to be pessimistic, largely influenced by ongoing worries about the global economic slowdown. According to the monthly survey conducted by the Federation of Korean Industries (FKI), the Business Survey Index (BSI...
Kolmar Korea Co. announced on Tuesday that it experienced a net loss of 43.3 billion won ($32.5 million) in the fourth quarter, remaining in a negative financial position compared to the same period last year. The company's operating income for the October-December quarter reached 37.8 billion won...
South Korean authorities on Monday introduced a set of measures encouraging listed companies to boost their valuation as a part of efforts to shake off the so-called “Korea discount” which has been haunting the local capital market for decades. Under the “corporate value-up program,” firms lis...
Posco International's new president, Lee Kye-in, has initiated the global expansion of the traction motor core business by establishing operations in Poland and Mexico as his inaugural strategic move. At a board meeting on Friday, the trading arm of the Posco Group authorized the establishment of ...
Mark Zuckerberg, CEO of Meta, formerly Facebook, is expected to meet with LG Electronics CEO Cho Joo-wan to discuss joint development of an advanced mixed reality headset, according to industry sources on Monday. LG Electronics said it is currently arranging a meeting of the two leaders, as Zucker...
South Korean game developer Krafton logged surprise earnings in the fourth quarter of last year thanks to the revival of PUBG: Battlegrounds, a battle royale shooter game. In particular, Kratfon highlighted the rise of Battlegrounds Mobile India, or BGMI, as one of the key factors that drove the r...
South Korea has tightened household debt regulations with the introduction of "stress interest" to the debt service ratio system across the banking sector, effective Monday. The Financial Services Commission has implemented the stress DSR system, which imposes surplus interest -- called stress int...
Samsung Electronics said Monday it has formed an alliance with global Big Tech firms to research sixth-generation technology and create an ecosystem through the convergence of artificial intelligence and wireless communication technologies. The AI-RAN alliance was officially launched at the Mobile...
Hyundai Engineering & Construction shares jumped Monday as the company has been tapped as the preferred bidder for a $14 billion worth nuclear plant project in Bulgaria. The builder's shares ended at some 34,000 won ($25.5) on Monday, around 2 percent higher than last week. On Sunday, the company...
South Korean food giant CJ CheilJedang's cooked rice product line, Hetbahn, achieved record-breaking annual sales of 850.3 billion won ($639 million) in 2023, significantly contributing to the growth in global sales, the firm announced Monday. Based on the firm's report, Hetbahn’s overseas sales ...
A global alliance led by South Korean mobile carrier SK Telecom agreed to establish a joint venture within the year to develop large language models tailored to the needs of telecommunications companies. The Global Telco AI Alliance, which was launched in Seoul in July last year, held its inaugura...
Hyundai Motor Group said Sunday that Woo Jung-yeop, a former director-general for strategy at South Korea's Ministry of Foreign Affairs, is joining its Global Policy Office as a senior vice president. This appointment, effective Monday, is part of Hyundai's efforts to strengthen its response to gl...
Trilateral talks acknowledge ‘serious’ slumps of won, yen
Samsung C&T president makes her first business trip to Milan
Seoul Business Agency CEO says SNS marketing essential for SME
CJ Olive Young offers real-time translators for foreign visitors
Hyundai Motor, Toray join hands for material innovation in mobility
Paris Baguette debuts in the Philippines