Naver is considering listing its web cartoon in the US as part of efforts to go global, Bloomberg News reported Wednesday. Naver’s chief financial officer Park Sang-jin said the company is eyeing more dollar bond sales and a possible future US initial public offering for Naver Webtoon, according to the wire service. “To grow, it’s inevitable that we go global,” Park was quoted as saying. “We should find business opportunities and meet capable partners to suppleme

South Korea’s antitrust watchdog set out to investigate US-based tech giant Google on its enforcement of the disputed “in-app billing” system, responding to market backlash that the given payment system is an abuse of power by a market monopolizer. The Fair Trade Commission has recently placed a research and service order to figure out ways to restore fair competion in the mobile app market, officials said Wednesday. The research will involve interviews with app developers on

KT, one of South Korea’s top three telecom carriers, said Wednesday it has found 24 subscribers to its most expensive internet plan, which guarantees a connection of 10 gigabits per second, were not getting the high-speed connection they were paying for. “Our investigation has found that an error has occurred in our customer data during the process of expanding and upgrading network facilities,” the firm said in a statement posted on its website, offering an apology and compe

South Korea will launch a standardized environmental, social and governance index as businesses are confused by more than 600 different ESG indices existing home and abroad. The Ministry of Trade, Industry and Energy on Wednesday held a conference with firms interested in ESG efforts and unveiled a draft of the envisioned measure, following President Moon Jae-in’s call for ESG standards at the 48th Commerce and Industry Day ceremony held on March. 31. The government-envisioned index, w

South Korea’s kimchi exports hit an all-time high in the first quarter of this year, recording the biggest trade surplus, government data showed on Wednesday. Overseas sales of kimchi recorded $46.6 million in the first quarter, breaking the previous record of $42 million in the second quarter of 2020, according to the Korea Customs Service and the food industry here. Imports was $38.5 million in the first quarter. The trade surplus of $8.06 million marks the biggest in 11 years and th

South Korea's antitrust regulator said Wednesday it will speed up its review of SK hynix Inc.'s deal to acquire US chipmaker Intel Corp.'s NAND business. Last October, SK hynix, the country's No. 2 chipmaker, signed a deal to buy Intel's non-volatile memory unit for $9 billion, and it submitted an application for approval to the Korea Fair Trade Commission (KFTC) in January. "We will proceed with the review as swiftly as possible in a way that does not hamper an industry realignment in th

South Korean automaker Hyundai Motor Co. on Wednesday denied rumors that it is considering the sale of its loss-making railway affiliate, Hyundai Rotem. Hyundai Motor said in a regulatory filing that it is not pushing to sell its 33.8 percent stake in Hyundai Rotem. Hyundai Rotem runs businesses in three main areas -- railway vehicles, defense products and industrial plants. Its railway business accounts for nearly half of its sales but has been in the red for the last three years, having pos

South Korean listed firms' dividend payouts reached the highest in five years last year as their earnings were better than expected and they sought to improve shareholder value, the bourse operator said Wednesday. Combined dividend payments by 529 out of 769 companies on the main bourse, which close their books in December, came to 33.2 trillion won ($29.7 billion) last year, up 60.3 percent from the previous year, according to the Korea Exchange (KRX). But their average payout ratio, the perc

South Korean automaker Hyundai Motor Co. said Wednesday it has resumed production at a domestic plant for Grandeur and Sonata sedans after two days of suspension following eased chip supply shortages. Hyundai Motor said in a regulatory briefing it reopened the Asan plant, about 100 kilometers south of Seoul, which went offline between Monday and Tuesday following a two-day suspension last week. The company estimated production losses of about 4,100 production units this month due to the suspen

Doosan Mobility Innovation (DMI), a South Korean drone maker, said Wednesday that it has teamed up with a Dutch government agency to utilize its drones for an offshore energy project in the European country. DMI has joined hands with the Development Agency Noord-Holland Noord (NHN) to take part in the offshore technology innovation program named Maritime Emerging Technologies Innovation Park (METIP), the company said. DMI's hydrogen fuel cell-propelled drones that can fly for more than two hou

Kumho Mitsui Chemicals Inc. said Wednesday it will invest about 400 billion won ($358.1 million) to expand its chemical manufacturing factory in South Korea's southwestern region. The joint venture between Korean synthetic rubber maker Kumho Petrochemical and Mitsui Chemicals of Japan said its shareholders approved the investment plan to scale up a methylene diphenyl diisocyanate (MDI) factory in Yeosu, 455 kilometers southwest of Seoul. MDI is a core material of polyurethane, which is used

Hanwha Q Cells, a solar solutions unit of South Korean conglomerate Hanwha Group, said Wednesday it will provide solar modules for a 370-megawatt solar farm project in Angola. Hanwha Q Cells said it will supply photovoltaic modules for the project that plans to build seven solar farms in the South African nation, without elaborating on the amount of the contract. The solar project aims to provide electricity to 2.4 million residents in Angola, and will cut 940,000 tons of carbon emissions a ye

South Korean automaker Hyundai Motor Co. said Wednesday it has collaborated with K-pop icon BTS to suggest people take eco-friendly actions in their daily lives to protect the environment in a campaign film celebrating Earth Day. In the one-minute YouTube video themed "For Tomorrow We Won't Wait," BTS raises awareness on the importance of sustainable practices and promotes hydrogen as a source of clean energy. It was Hyundai Motor's second Earth Day video starring BTS, following the

S-Oil said Tuesday that the company has signed Kumho Tire as the first partner for its all-in-one car management platform “Eurecar.” Set for release next year, the mobile app will offer a wide spectrum of services from non-face-to-face charging and payment services at S-Oil gas stations, to dialing designated drivers, valet parking and making car wash reservations. “The partnership with Kumho Tire will allow customers to purchase tires on the Eurecar app and replace tires

From being dirt-poor in his 20s to overcoming wrist pains in his 30s, the living legend is a fighter through and through