Biz community calls for early resumption of operations at inter-Korean factory zone

South Korea’s business community on Wednesday expressed hopes that the shutdown of an inter-Korean industrial park in the North’s border city will be lifted at an earlier date as it could wreak financial havoc on local firms ope...

Shinhan Group's profit rises 14% in 2015

The net profit of Shinhan Financial Group, the nation’s largest banking group by assets, jumped to 2.37 trillion won ($1.9 billion) in 2015, a 14 percent increase from 2.08 trillion won in 2014, as result of increased deposits an...

Hyundai gets nod for best Super Bowl ad

A Hyundai Motor commercial has been picked as the favorite advertisement aired during the U.S most-watched sporting event Super Bowl 50, the automaker said Wednesday. The commercial, “First Date,” which features the Korean auto...

Samsung to cut facility investment in chips in 2016

Samsung Electronics, the nation’s largest tech giant, is expected to reduce facility investment in its chip business in 2016 from a year ago, data showed Wednesday, just as rivals such as Intel do the opposite.  According to the...

KT&G expands business in Iran

KT&G is expanding its business in Iran as the Islamic country is requesting more investment from Korea’s largest tobacco firm, company officials said Wednesday. The Iranian market is drawing attention from global companies as in...

GS E&C seeks to retake lead in Iran’s construction market

As companies around the world rush to take on new business opportunities in post-sanctions Iran, South Korean builder GS E&C is out to regain its former presence in the country where it has built up a solid track record in the con...

Concerns rise over volatile exchange rate

The won-dollar exchange rate has shown sharp fluctuations in recent months, raising concerns over the possible negative impact of such volatility on the country’s economy, which is struggling with deteriorating conditions both at...

LG’s diabetes drug on way to global expansion

LG Life Sciences, the biopharmaceuticals unit of LG Group, is out to swiftly commercialize its self-developed diabetes treatment Zemiglo in new markets around the world.   In partnership with France-based pharmaceutical giant Sa...

Shares of builders are bullish riding Iran hope

Construction firms were the top winners on the main stock bourse in early trading this year, data showed Wednesday, as investors cheered growing opportunities in the Iranian market.The construction segment of the benchmark Korea C...

Korea’s car exports plunge in January

Korea’s outbound shipments of cars nosedived at the fastest clip in more than six years in January as fast-falling oil prices dragged down demand from emerging markets, including Middle East countries, the government said Wednesd...

Office lease market in Seoul to remain slow

Leasing activity for office buildings in Seoul is expected to remain conservative in 2016, according to the 2016 Asia Pacific outlook report by real estate market research company Cushman & Wakefield. The majority of tenant moveme...

Lotte names 1st son as legitimate heir

Lotte Group founder’s first son Shin Dong-joo released a video earlier this week in which his father named him as the legitimate heir of the retail giant operating both in Korea and in Japan, industry sources said Wednesday. He m...

[Photo News] Woori Bank enters Iran

FORAY INTO IRAN -- Woori Bank CEO and president Lee Kwang-goo (third from the left) hosts a ceremony to announce the opening of the bank’s trade and investment center in Iran with guests including Strategy and Finance Vice Minist...

Lotte founder names 1st son as legitimate heir through video

Lotte Group founder's first son released a video earlier this week in which his father named him as the legitimate heir of the conglomerate, industry sources said Wednesday, amid the prolonged dispute over which son will inherit t...

South Korea's financial regulator to convene emergency meeting

South Korea's top financial regulator will convene an emergency meeting to intensify monitoring of the local financial market following North Korea's long-range missile launch, an official said Sunday.In the meeting scheduled to t...