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Complaints grow over security bottlenecks at Incheon Airport
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Why Trump is courting Korea for Naval shipbuilding efforts
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Trump's executive orders ripple through Korean industries
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Korea settles dispute with US Westinghouse to cooperate in nuclear energy
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Chaebol brace for upheaval as Trump returns to White House
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Hyundai Motor sets sights on India's micromobility market
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Korea Zinc power struggle reaches new level
MBK warns of criminal accusation; Korea Zinc invites rivals on board After four months of power struggle and a 13-hour shareholder meeting on Thursday, the battle over management control of the world’s largest refined zinc smelter Korea Zinc is likely to continue. While the thwarted MBK-Young Poong coalition signaled its intent to press criminal charges, Korea Zinc suggested collaborating with its rival, inviting MBK Partners to join its management. On Thursday, Korea Zinc's current management t
Jan. 24, 2025 -
Seoul shares close higher on hopes for rate cuts
South Korean stocks finished higher Friday as US President Donald Trump's call for interest rate cuts boosted appetite for risky assets. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 21.31 points, or 0.85 percent, to close at 2,536.8, rebounding from a 1.24 percent drop the previous day. Trade volume was moderate at 576.9 million shares worth 9.83 trillion won ($6.87 billion), with winners outnumbering losers 542 to 321. Foreigners purchas
Jan. 24, 2025 -
Zyx Technology donates W1b CAD software licenses to CBNU
South Korea design software developer Zyx Technology announced Friday that it has donated Zyx CAD licenses valued at 1 billion won ($698,680) to Chungbuk National University. Under the three-year agreement, Zyx Technology will provide educational licenses to students and faculty, with access to the software enabled on campus and at home, to foster future software talent and strengthen digital innovation in academia. ZyxCAD is computer-aided design software available through the Korean Public Pro
Jan. 24, 2025 -
Rice consumption hits record low, but use in alcohol production rises
Per capita rice consumption in South Korea reached an all-time low in 2024, continuing a decades-long decline, according to new government data. A report released by Statistics Korea shows that the average South Korean consumed 55.8 kilograms of rice last year, down 0.6 kilogram, or 1.1 percent, from the previous year. This marks a dramatic drop in the consumption of the country’s most essential staple food from 1994 when the per capita figure was 120.5 kilograms — more than double last year's.
Jan. 24, 2025 -
KMI opens expanded medical checkup center in Gwanghwamun
Korea Medical Institute announced Friday the opening of its newly expanded Gwanghwamun Medical Checkup Center, offering upgraded facilities and improved accessibility in the heart of Seoul. The new center, located in the Gwanghwamun Building (formerly Donghwa Duty-Free Building), spans 4,208 square meters, 300 square meters larger than its previous location. Its central location ensures convenient access by public transportation, making health screenings more accessible for clients, the institut
Jan. 24, 2025 -
Samsung Electro-Mechanics hits record revenue in 2024
Samsung Electro-Mechanics, the electronic parts subsidiary of Samsung Electronics, said its annual revenue hit a record high last year, exceeding 10 trillion won ($6.99 billion) for the first time in the company’s history. The company said its revenue was 10.29 trillion won in 2024, up 15.8 percent from 2023. Its operating profit rose 11.3 percent from a year earlier to 735 billion won, driven by an expansion in the supply of high-value products. The company said booming demand for premium compo
Jan. 24, 2025 -
Gmarket, Malltail join hands to boost cross-border e-commerce
Shinsegae Group’s e-commerce unit Gmarket announced Friday that it has partnered with Malltail, a global logistics and e-commerce provider, to strengthen overseas shopping services and competitiveness in the growing cross-border market. The two companies signed a strategic joint business plan Thursday, with Gmarket Sales Division head Lee Min-gyu and Malltail CEO Kim Hae-dong discussing plans to expand Malltail’s product offerings on Gmarket and boost marketing efforts throughout the year. Under
Jan. 24, 2025 -
S. Korea to speed up expenditures in creating jobs in Q1
South Korea will speed up budget implementation in the first quarter to create jobs amid growing economic uncertainties, the finance ministry said Friday. The announcement came as South Korea's on-year employment growth slowed significantly in 2024, with the number of new hires declining in the manufacturing and retail sectors. "In December, the number of employed individuals fell by 52,000, reflecting worsening economic sentiment in the country. The outlook remains challenging due to delays in
Jan. 24, 2025 -
Acting president discusses ways to address Trump trade policies
Acting President Choi Sang-mok on Friday asked government officials to prioritize national interests as they review strategies to address new US economic and trade policies under the second Donald Trump administration. Choi made the remarks during a meeting on external economic issues with government officials, including the foreign and industry ministers, instructing them to review South Korea's countermeasures against issues that could significantly impact the economy. The acting president als
Jan. 24, 2025 -
Govt. to brace for possible universal tariff on S. Korean goods by US
The government will prepare for Washington's possible implementation of universal tariffs on South Korean goods following the launch of the second Donald Trump administration, a senior trade official has said. "President Trump has been mentioning the issue, so I believe we need to stay vigilant and make thorough preparations," the official told reporters Thursday under the condition of anonymity. The remark came as Trump has been proposing to impose blanket tariffs of 10 to 20 percent on all imp
Jan. 24, 2025 -
Seoul shares open higher on Trump's call for rate cut
South Korean stocks started higher Friday, driven by US President Donald Trump's overnight comments on rates and oil prices. The benchmark Korea Composite Stock Price Index added 16.89 points, or 0.67 percent, to 2,532.38 in the first 15 minutes of trading. Overnight, US stocks were buoyed by Trump's video message for the World Economic Forum in Davos, Switzerland, calling for cuts in interest rates and oil prices. The S&P 500 finished up 0.53 percent to hit an all-time high, and the Dow Jones I
Jan. 24, 2025 -
Miracell showcases breakthrough stem cell treatment for hair loss
South Korean stem cell research company Miracell announced Thursday that it recently hosted a session showcasing advanced hair loss treatments using stem cell technology, addressing the growing number of Koreans affected by the condition. The event, part of Miracell’s Cellpia Global Platform Academy, provided medical professionals with insights into cutting-edge stem cell therapies. Since its launch in 2019, the academy has served as a hub for sharing breakthroughs in regenerative medicine throu
Jan. 23, 2025 -
Seoul shares dip over 1% on profit taking
South Korean stocks closed over 1 percent lower Thursday as investors took profit following strong gains in the previous session despite an overnight rally on Wall Street. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index dropped 31.57 points, or 1.24 percent, to close at 2,515.49. Trade volume was moderate at 594.7 million shares worth 9.7 trillion won ($6.751 billion), with decliners beating gainers 696 to 190. Institutions and foreign investors c
Jan. 23, 2025 -
Korea launches state body to boost biotech industry
South Korea launched a national committee dedicated to biotechnology Thursday, in a strategic move to enhance the nation's global competitiveness in the rapidly evolving biotech market. At its inaugural meeting, presided over by acting President Choi Sang-mok in Seoul, the National Bio Committee highlighted its goals of advancing the nation’s biotech sector as a key economic driver and positioning Korea among the top biotech nations. The new state body, comprising 24 industry experts and 12 gove
Jan. 23, 2025 -
Riding high on AI boom, SK hynix beats earnings estimates
Buoyed by record sales and profits, chipmaker offers rosy outlook as HBM leader SK hynix, the world's second-largest memory chip maker, logged its best-ever yearly earnings in 2024, successfully capitalizing on the global AI chip boom with its cutting-edge high bandwidth memory products. The company reported Thursday it achieved 66.1 trillion won ($46.1 billion) in sales in 2024, increasing by a whopping 102 percent on-year. The operating profit stood at 23.4 trillion won with an operating margi
Jan. 23, 2025