Mirae Asset wins lawsuit over $5.8b US hotel deal

Mirae Asset Global Investments, one of South Korea’s largest asset management firms, said on Dec. 1 that it won a US court case against Chinese insurer Anbang Insurance Group over legal disputes involving a $5.8 billion deal to acquire luxury hotels. 　The Delaware Court of Chancery rejected Anbang’s demand of Mirae Asset to pay off the rest of the deal, and ordered the Chinese insurer to return $580 million it received from the South Korean company as a deposit of the deal, with int

SK sets up hydrogen business group

SK Group is poised to make a big bet on the rising hydrogen market, seeing the fuel as a next-generation eco-friendly energy source. 　SK Holdings said on Dec. 1 that it established a hydrogen business promotion group, an organization dedicated to the hydrogen project consisting of about 20 experts from related companies such as SK Innovation and SK E&S. 　The holding firm said it has been reviewing the feasibility of the hydrogen project and establishing strategies since early this year. I

Naver Cloud, GS Global join hands for overseas market

Naver Cloud and GS Global will collaborate on their overseas services, the companies said on Dec. 1. 　The new alliance with GS Global gives Naver Cloud a channel to liaise with large-scale corporate clients in target countries, while GS Global will gain an opportunity to expand into the information technology business, they said. 　“Naver Cloud has the most global region services among cloud platforms developed by Korean firms,” said Park Won-ki, CEO of Naver Cloud. 　“It h

Korean Air to sell Incheon yacht marina

Korean Air Lines is inching closer to selling its yacht marina operation in Incheon to a new Korean buyer for roughly 130 billion won ($117 million). 　The investor group of Consus Asset Management and Mirae Asset Daewoo said on Nov. 30 it has signed a memorandum of understanding as a preferred bidder to buy 100 percent stake in Wangsan Leisure Development, operator of Wangsan Marina, which is wholly controlled by the nation’s No. 1 flag carrier.　 　Wangsan Marina was built in 2016. Par

Why Korea needs a bank for modern-day Jean Valjeans

Hong Se-hwa, former journalist, writer and civic activist, calls for income-based fines for petty offenders

From former epicenter to zero cases, Daegu vows lessons won’t go unlearned

Daegu, once the epicenter of South Korea’s coronavirus epidemic, is faring better than most parts of the country in the midst of a coronavirus resurgence. For the whole month of November, as a third big wave of the coronavirus began to sweep across the country, Daegu managed to maintain a single-digit rise in daily new infections. No new cases were found for six November days. When the nationwide tally shot up to 569 cases Friday, Daegu was the only region in Korea to report zero cases.

‘Forestry crucial for healthy, sustainable future of humanity’

As South Korea gears up to host the world’s largest forestry conference next year, KFS Minister Park Chong-ho underscores value of forests

Pernod Ricard brings RTD craze to Korea

PRK managing director on introducing canned espresso martini in Korea via coffeehouse chain

Smilegate’s Magical Atelier, adorable but overly exclusive to target users

Just like how the idea of magic rails against common knowledge, Magical Atelier appears to defy the odds, being an unconventional game that transgresses the basic laws of typical Korean mobile games. For busy commuters, mobile games are supposed to be simple and easy to play. Also, they must include elements that can trigger competition among as many users as possible to guarantee profitability. Magical Atelier, developed by Smilegate, meets neither of the two criteria. Released in South K

2020 to mark 1st year of population decline

The historic peak could be 51.851 million in Nov. 2019

Kospi rises 10th-sharpest among G-20 bourses in November

Buoyed by foreign investors’ buying, Kospi again hits all-time closing high of 2,675.90

BTS rewrites Billboard history with 'Life Goes On'

It was not the first time that sensational K-pop boy band BTS had seen its name at the top of US music publication Billboard’s main singles chart, but this time it was different. Billboard on Monday announced via social media that “Life Goes On,” the lead track of the band’s latest album, “Be,” debuted at No. 1 on this week’s Hot 100, the coveted singles chart, becoming the first song sung predominantly in Korean to top the chart in its 62-year history