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AI shoppers get first say in Korea's retail race
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AI meets fashion at Palantir's Seoul pop-up
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'Because it's Apple': What drives Korea's first iPhone Duo buyers
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Four years on, Lee Jae-yong steers Samsung from chip slump to AI boom
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Why Kospi and Korean won have parted ways
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Zuellig Pharma expands cold chain capacity in Korea
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JB Financial logs record 9-month profit
JB Financial Group posted its highest-ever net profit of 595.7 billion won ($450 million) in the first nine months of the year, the banking group announced Tuesday. Net profit attributable to shareholders rose 0.8 percent on-year to 210 billion won in the third quarter and 2.9 percent to 595.7 billion won in the January-September period. Both figures marked record highs for their respective periods. Revenue also increased, with third-quarter revenue rising 13 percent year-on-year to 1.27 trillio
Oct. 27, 2026 -
LG Innotek posts record Q3 sales, but profit misses forecasts
LG Innotek’s record third-quarter sales failed to cushion a sharp currency hit, with operating profit more than halving as higher material costs eroded gains from strong demand for smartphone cameras. The Apple supplier said Tuesday that operating profit fell 53.4 percent from a year earlier to 94.8 billion won ($71.5 million), less than half the 197.3 billion won forecast compiled by financial data provider FnGuide. Revenue rose 18.6 percent to 6.37 trillion won, a third-quarter record. Its ope
Oct. 27, 2026 -
Citibank Korea's new chief takes office
Citibank Korea announced Tuesday that Kim Kyoung-ho, head of the corporate banking group, has been appointed as its new chief for a three-year term. The appointment follows an extraordinary general meeting of shareholders and a meeting of the board of directors. Kim was nominated as the final candidate for the position of Citi Country Officer and Banking Head for Korea on Sept. 22. The nomination committee cited Kim's strong expertise and proven track record in corporate banking and client relat
Oct. 27, 2026 -
Homeplus stores face power cuts over unpaid bills
Six Homeplus stores have received notices warning of possible electricity cutoffs over unpaid utility bills, as the troubled retailer faces mounting financial pressure. According to industry sources Tuesday, Homeplus stores in Pocheon, Goyang, Namyangju and Paju are scheduled to face disconnections between Oct. 27 and 30. Another store in Songdo, Incheon, is expected to face a cutoff in November. Under Korea Electric Power Corp.’s supply terms, the utility issues a cutoff notice when electricity
Oct. 27, 2026 -
Nuclear watchdog approves 10-year lifespan extension for Kori units 3, 4
The country's nuclear watchdog decided Tuesday to extend the operational life of two nuclear reactors located on the country's southeastern coast by an additional 10 years. The approval by the Nuclear Safety and Security Commission came four years after the Korea Hydro & Nuclear Power Co., the state-run power operator, requested the agency review the restart of Kori units 3 and 4. The two pressurized water reactors of 1,025 megawatts gross capacity had stopped power generation after 40 years of
Oct. 27, 2026 -
Seoul shares surge 3% on renewed AI optimism, easing oil prices
Seoul shares closed higher Tuesday, led by gains in technology shares, as renewed optimism over artificial intelligence and falling oil prices boosted risk appetite. The Korean won strengthened against the US dollar. The benchmark Korea Composite Stock Price Index gained 168.87 points, or 3.09 percent, to close at 5,638.34. As the market rallied on strong foreign buying, the Korea Exchange activated a buy-side sidecar at 10:13 a.m., suspending buy orders in program trading for KOSPI-listed share
Oct. 27, 2026 -
AmCham stresses workforce training, risk management in AI transition
The American Chamber of Commerce in Korea stressed that businesses must invest in workforce training and risk management to turn artificial intelligence adoption into lasting productivity gains. The message was delivered at AmCham's HR Workshop 2026, held Tuesday at the Grand Hyatt Seoul, where around 100 business leaders and industry experts discussed how companies can integrate AI into daily operations while managing organizational and legal risks. "Having the tools is only the beginning. Empl
Oct. 27, 2026 -
Daiso breaks ground on W600b logistics hub in Yangju
Asung Daiso has begun construction of a 600 billion won ($453 million) logistics center in Yangju, Gyeonggi Province, its largest to date, as the South Korean fixed-price retailer expands its distribution network to meet growing demand from stores and online shoppers. The company held a groundbreaking ceremony Monday at the Yangju Eunnam General Industrial Complex, attended by about 400 people, including Asung Daiso Chairman Park Jeong-bu and Yangju Mayor Jeong Deok-yeong. Scheduled for completi
Oct. 27, 2026 -
Four years on, Lee Jae-yong steers Samsung from chip slump to AI boom
Samsung Electronics Chairman Lee Jae-yong marked four years in the role on Tuesday with the company forecasting its biggest quarterly profit, a dramatic reversal from the semiconductor downturn that engulfed the early months of his tenure. Lee is now focused on strengthening Samsung’s technological lead and pursuing growth in robotics, automotive electronics and artificial intelligence-powered manufacturing as the memory business rebounds. No anniversary ceremony or special message was planned.
Oct. 27, 2026 -
Chip boom drives Korea's surprise 1% GDP growth in Q3
South Korea's economy grew more than three times faster than expected in the third quarter, powered by booming semiconductor exports and investment, raising the prospect of a significant upgrade to the country's annual growth outlook. Real gross domestic product expanded 1 percent from the previous quarter, far exceeding the Bank of Korea's August forecast of 0.3 percent, preliminary data showed Tuesday. The unrounded growth rate was 0.97 percent. The surprise expansion puts the economy on track
Oct. 27, 2026 -
Hanwha Ocean Q3 profit surges 68% on high-margin ship orders
South Korean shipbuilder Hanwha Ocean said Tuesday that its third-quarter operating profit jumped 67.6 percent from a year earlier, driven by strong earnings and a recovery in its offshore energy business. Operating profit from July to September reached 485.7 billion won ($366.8 million), up from 289.8 billion won a year earlier, the company said in a regulatory filing. Revenue rose 12.9 percent on-year to 3.41 trillion won, while net profit plunged 46.1 percent to 145.1 billion won. The results
Oct. 27, 2026 -
KT takes on global cloud providers with new enterprise AI service
KT unveiled an enterprise AI platform Tuesday that will allow businesses to use models from different providers through a single service, taking on global cloud operators such as Amazon and Microsoft.
Oct. 27, 2026 -
Korean sunscreens go global as Kolmar-Goodai sales hit 100m
Korean sunscreens are gaining ground in global beauty markets, with products developed through a partnership between cosmetics manufacturer Kolmar Korea and beauty company Goodai Global surpassing 100 million units in cumulative sales over five years. The milestone, reached in March, highlights the growing appeal of Korean sunscreens that offer more than ultraviolet protection. Lightweight textures, minimal white cast and added skincare benefits have become key selling points overseas, helping t
Oct. 27, 2026 -
Hana Bank teams up with Banyan Tree Seoul to woo wealthy clients
Hana Bank has partnered with Banyan Tree Club & Spa Seoul to expand its wealth management offerings beyond financial services, targeting ultra-high-net-worth clients with exclusive lifestyle and family programs. The bank signed a memorandum of understanding Monday with Able Hyundai Hotel & Resort, which operates Banyan Tree Seoul, to jointly develop services spanning dining, arts, culture and wellness. The signing ceremony was attended by Hana Bank President Lee Ho-sung and Able Hyundai Hotel &
Oct. 27, 2026 -
Taihan Cable's European orders top W500b with German deal
Taihan Cable & Solution has secured a turnkey contract to build a 380-kilovolt underground power transmission network in Germany through its Dutch subsidiary, strengthening its foothold in Europe's high-voltage infrastructure market. Under the agreement, Taihan Netherlands B.V. will handle engineering, construction and overall project management, while the South Korean parent company will supply high-voltage cables, joints and other key components. In a regulatory filing Tuesday, Taihan disclose
Oct. 27, 2026