JB Financial chief buys W200m in treasury shares

Kim Ki-hong, chair and CEO of JB Financial Group, has purchased an additional 200 million won ($141,000) worth of treasury shares as part of ongoing efforts to enhance corporate value and shareholder returns. According to a recent regulatory filing with the Financial Supervisory Service, Kim acquired 12,127 shares on the open market on April 9 at 16,542 won per share. The latest purchase raises Kim’s total holdings to 160,000 shares, equivalent to 0.08 percent of JB Financial Group’s outstanding

April 17, 2025

Korean sunscreen flying off US shelves amid tariff fears

Amid the US government's tariff-fueled standoff with the rest of the world, some Americans appear to be stockpiling imported goods in anticipation of looming price hikes. Among the more unlikely items flying off the shelves are Korean-made sunscreen brands, which have quietly built a cult following in the United States. According to a report last week by The Washington Post, Korean sunscreen ranks among the most hoarded consumer goods amid tariff fears, based on data gleaned from social media po

April 17, 2025

[Photo News] Hana empowers inclusive art

Hana Financial Group Chairman Ham Young-joo (center) poses with Grand Prize winners of the “Hana Artverse” contest during the awards ceremony held at Hana Bank’s headquarters in Eulji-ro, central Seoul, on Thursday. Now in its fourth year, the annual contest honors artists with developmental disabilities in celebration of South Korea’s Day of Persons with Disabilities, observed on April 20. This year’s contest drew 877 submissions, with 30 winners selected — 21 adults and nine children. “At Hana

April 17, 2025

Govt. to bolster IP protection efforts amid global tech war

The government will strengthen its cooperation with related authorities to better protect industrial technologies and intellectual properties amid fierce global competition in advanced technologies, the industry ministry said Thursday. The Ministry of Trade, Industry and Energy discussed joining hands with the Korean Intellectual Property Office to strengthen their capabilities in IP protection in a joint forum on economic security, according to ministry officials. The move comes amid a continue

April 17, 2025

Wealthy Koreans shift focus from real estate to gold, bonds and crypto

More wealthy South Koreans are eyeing diversification of their investments, seeking out safe-haven assets such as gold and bonds in their portfolios instead of real estate, a traditional investment here, research conducted by a think tank under Hana Financial Group showed. The wealthy are increasing their stake in cryptocurrency as well. The Hana Institute of Finance released the 2025 Korea Wealth Report Wednesday. This year, the online survey was conducted on 3,010 Hana Bank customers in Decemb

April 16, 2025

KT pushes for full-scale AI integration in media value chain

South Korean telecommunication giant KT announced Wednesday its plan to ramp up its artificial intelligence strategy in the media sector, including introducing a new AI agent for its internet TV platform Genie TV an AI-powered content studio. With the goal of positioning its media business as one of its three core growth pillars, the company said it will invest 500 billion won ($370 million) by 2026. “With global OTT giants rapidly dominating the content supply chain, there is growing concern th

April 16, 2025

Incheon Airport logs record 18.6m passengers in Q1

Incheon International Airport Corp. announced Wednesday that the airport recorded an all-time high of 18.6 million passengers in the first quarter of this year, driven by strong growth in short-haul routes to Japan, China and Southeast Asia. Short-haul flights accounted for 84.3 percent of total operations — significantly outpacing long-haul routes to destinations like the United States and Europe. This trend reflects a growing preference for shorter trips amid global economic uncertainties such

April 16, 2025

Toss Bank charts first overseas expansion

Toss Bank, South Korea’s leading internet-only lender, is plotting its first overseas expansion, with both developing and developed markets under review. CEO Rhee Eun-mi unveiled the plan Wednesday at a press briefing, marking a key strategic pivot for the digital bank. While Korean lenders typically target emerging economies in their initial overseas forays, Toss Bank aims to break that pattern. “We believe Toss Bank can achieve its next steep growth in the global market,” Rhee said. “This isn’

April 16, 2025

Hyundai Elevator installs solar panels in Shanghai plant, cuts carbon footprint

Hyundai Elevator announced Wednesday that it has completed the installation of a 6-megawatt solar power system at its Shanghai Smart Campus, accelerating towards achieving RE100 — a global initiative to become completely carbon neutral. The system, which begins full-scale operation in the second quarter, will replace 47 percent of the plant’s total electricity use through renewable energy. Rooftop solar panels were used, following the same installation model as Hyundai’s Chungju Smart Campus in

April 16, 2025

South Korean employees work 14 yrs on average at major corporations

The average length of employment at South Korea’s major corporations has increased since 2020, despite economic uncertainty and a reported uptick in voluntary resignations and career changes. According to data released Wednesday by CEO Score, a corporate analytics firm, the average tenure at 80 of the nation’s top 100 companies by revenue reached 14.03 years in 2024, up from 13.55 years in 2020. The analysis covers companies that have consistently disclosed employment data over the past five yea

April 16, 2025

S. Korean delegation to visit UAE for high-speed rail, infrastructure bids

A high-level South Korean delegation plans to visit the United Arab Emirates this week to bolster Seoul's bids for high-speed railway and infrastructure projects in the Middle East nation, the Ministry of Land, Infrastructure and Transport said Wednesday. Led by Land Minister Park Sang-woo, the delegation will meet with UAE Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei on Friday to discuss bilateral cooperation in the transport and infrastructure sectors, with a focus on the U

April 16, 2025

GM Korea to increase vehicle production amid US tariff-related exit concerns

GM Korea Co., the South Korean unit of General Motors Co., plans to increase production at its Incheon plant by about 9 percent this year, the company's labor union said Wednesday, easing concerns over a potential withdrawal amid growing uncertainty over the United States' tariff policies. According to the union, the company recently said it would allocate an additional 21,000 vehicles to the plant in Bupyeong, Incheon, west of Seoul, for production this year. The increase amounts to nearly 9 pe

April 16, 2025

Hanwha expands F&B portfolio with new ice cream brand

Betterscoop Creamery, the ice cream business subsidiary of Hanwha Galleria, said Tuesday that it will officially launch its new ice cream brand, Benson, in May. Industry insiders see Hanwha Galleria Vice President Kim Dong-seon's entry into the premium ice cream market as a natural extension of his success in introducing the Five Guys burger franchise to Korea in 2023. Strengthening its food and beverage portfolio further, Hanwha Galleria acquired the US-based robotic pizza brand Stellar Pizza i

April 15, 2025

KB Securities to open Mumbai office in India push

KB Securities, a brokerage affiliate of the South Korean finance giant, KB Financial Group, is set to establish an office in Mumbai this year to seek opportunities in the fast-growing country. "As part of its global expansion drive, KB Securities plans to open an office in India," an official from the brokerage firm confirmed on Tuesday. KB Securities currently operates six overseas units in five countries, including the US, Hong Kong, Vietnam, Indonesia and China. India will be the firm’s sixth

April 15, 2025

[Photo News] Metlife's Asia President in Seoul

MetLife Asia Regional President Lyndon Oliver serves breakfast to sales agents during the "CEO Server’s Morning" at MetLife Korea’s headquarters in Seoul’s Gangnam District on Tuesday last week. The event aimed to foster unity among local staff while reaffirming the company’s commitment to the South Korean market. During his visit, Oliver said, "MetLife has maintained its leading position among foreign life insurers in Korea thanks to the expertise of its local planners, diversified sales channe

April 15, 2025