Foreign enrollment in defined contribution pensions soars 67.5%

The number of foreign nationals enrolled in South Korea's defined contribution retirement pension plan has surged 67.5 percent in 3 1/2 years, highlighting their growing participation in the country's retirement savings market and the potential to broaden the long-term investment base. Foreign DC plan subscribers reached 46,872 at the end of June this year, up from 27,989 at the end of 2022, according to Financial Supervisory Service data obtained by People Power Party Rep. Park Sung-hoon and sh

Oct. 19, 2026

AI makes cyberattacks cheaper, harder to ignore: Cloudflare executive

SINGAPORE — Cybercriminals once used relatively small attacks to distract security teams while pursuing more valuable targets. Artificial intelligence is changing that calculation, allowing hackers to launch sophisticated cyberattacks even when their main purpose is simply to keep defenders busy, according to a senior Cloudflare executive. "These smoke bombs are now full-on cyberattacks because they can afford that. Because AI is doing all of that," said Volker Rath, field chief technology offic

Oct. 19, 2026

Hugel introduces visiting doctors to Korean aesthetics

South Korean medical aesthetics company Hugel hosted its Aesthetic Excellence Summit 2026 from Wednesday to Friday, bringing together 20 medical professionals from Europe, Asia, the Middle East and South America for hands-on training in cosmetic procedures. Held twice a year under the Hugel Expert Leader's Forum, the summit aims to strengthen overseas practitioners' clinical skills and promote Korean aesthetic medicine. On the first day, participants toured Hugel's manufacturing facilities to le

Oct. 19, 2026

SK hynix launches W2tr financing program to bolster chip suppliers

SK hynix has launched a 2 trillion won ($1.5 billion) financing program with major commercial banks and a state-run trade insurer to help domestic semiconductor suppliers secure affordable funding and strengthen Korea's chip supply chain, the company said Monday. SK hynix CEO Kwak Noh-jung, Industry Minister Kim Jung-kwan, representatives from the Korea Trade Insurance Corporation, four major banks — Hana, KB Kookmin, Shinhan and Woori — and semiconductor suppliers attended a signing ceremony at

Oct. 19, 2026

Korean regulators see potential Solidigm US IPO as dual-listing violation

South Korea's financial regulators believe a potential US listing of SK hynix subsidiary Solidigm would violate restrictions on dual listings, Financial Supervisory Service Gov. Lee Chan-jin said Monday, though authorities have yet to determine whether they can intervene. "Both the Financial Services Commission and the FSS believe it runs afoul of dual-listing restrictions," Lee said during a parliamentary audit. His remarks came in response to Rep. Park Seong-hoon of the People Power Party, who

Oct. 19, 2026

LG seeks tangible AI returns in monthlong business reviews

LG Group began a monthlong series of business reviews across its affiliates on Monday, with artificial intelligence, investment efficiency and global technology partnerships expected to dominate discussions as the conglomerate prepares its 2027 business strategy. LG Corp. CEO Koo Kwang-mo will lead the meetings with affiliate CEOs and business division heads to assess this year's performance and set priorities for next year, according to the group. The reviews will start with electronics affilia

Oct. 19, 2026

HD Hyundai tests uncrewed naval vessel off California coast

South Korean shipbuilder HD Hyundai has demonstrated new uncrewed surface vessel technology off the California coast in partnership with US defense technology firm Anduril Industries, aiming to tap into rising naval demand in the US and worldwide. HD Hyundai said Monday it had successfully tested the autonomous capabilities of an uncrewed surface vessel off the coast of Long Beach, California, marking the first such demonstration by a South Korean company in US waters, according to the company.

Oct. 19, 2026

Coway brings sleep-tracking technology to BEREX mattresses

South Korean home appliance maker Coway has added sleep-tracking technology to its BEREX smart mattresses, expanding a lineup designed to accommodate different sleeping positions and firmness preferences. The move comes amid growing attention to sleep quality in Korea, where people sleep an average of six hours and 58 minutes a night, among the shortest durations in OECD countries, according to the Korean Sleep Research Society's 2024 survey. Coway said mattress firmness plays a key role in slee

Oct. 19, 2026

Cosmax deepens US push with K-beauty creator awards

South Korean cosmetics manufacturer Cosmax said Monday it co-hosted the Koom K-beauty Creator Awards in New York on Saturday, seeking to strengthen ties with North American beauty influencers and expand its US business. The event, organized with United Korean Founders, a network of Korean entrepreneurs in North America, was part of Koom Week 2026, a festival promoting Korean brands and startups. The awards ceremony drew about 150 beauty influencers and content creators, as well as UKF Chair Jung

Oct. 19, 2026

LG CNS named IDC ‘Major Player’ for agentic AI workplace solutions

LG CNS said Monday it has become the first South Korean company recognized in IDC's global digital workplace services assessment, earning a "Major Player" designation in the 2026 evaluation. The assessment covered 19 technology companies, including India's Tata Consultancy Services and Infosys, Japan's NTT DATA and US firms Dell and HP. IDC MarketScape evaluates providers based on their capabilities, strategies, customer feedback and service competitiveness. IDC highlighted LG CNS's agentic arti

Oct. 19, 2026

Twosome Place opens first US store in Virginia

South Korean cafe chain Twosome Place opened its first US store in Alexandria, Virginia, on Saturday, marking its entry into the American market with a menu of Korean-inspired desserts and drinks. Customers waited outside before the 7 a.m. opening, with lines continuing until the store closed at 8 p.m., according to the company. Located on King Street in Old Town Alexandria, a historic shopping and dining district near the nation's capital, the 241-square-meter cafe seats 78, including the outdo

Oct. 19, 2026

Hyundai Glovis expands Philadelphia hub, moves into terminal operations

Hyundai Glovis has signed a memorandum of understanding with the Philadelphia Regional Port Authority and a local developer to expand its vehicle logistics operations at the Port of Philadelphia, strengthening its foothold on the US East Coast. The agreement includes new vehicle handling facilities, dedicated berths for car carriers and an extension of the company's existing site lease through 2056. Hyundai Glovis will also move into terminal operations as part of PhilaPort's broader expansion o

Oct. 19, 2026

FSS chief vows stronger cybersecurity after data breaches

The chief of South Korea's financial watchdog on Monday pledged to strengthen cybersecurity at local financial institutions through thorough investigations into recent hacking incidents that compromised about 100,000 cases of personal data. "The recent security breaches have caused great concern among the public," Financial Supervisory Service Gov. Lee Chan-jin said in his opening remarks at a parliamentary audit. "We will swiftly address security vulnerabilities through a thorough investigation

Oct. 19, 2026

Seoul stocks open sharply lower after US tech sell-off

Seoul shares opened sharply lower Monday in the wake of a technology-centered sell-off on Wall Street, as concerns mount over whether heavy investment in artificial intelligence infrastructure can generate sufficient returns. After opening 3.17 percent lower, the benchmark Korea Composite Stock Price Index narrowed losses, trading down 95.95 points, or 1.69 percent, at 5,572.10 as of 9:15 a.m. The KOSPI rose 2.05 percent to close at 5,668.05 on Friday, snapping a seven-session losing streak duri

Oct. 19, 2026

Top bank chiefs face grilling over cyberattacks

Chiefs of five major South Korean commercial banks will attend a parliamentary audit on Monday to face questions over a wave of cyberattacks that exposed customers' and employees' personal data. The National Assembly's National Policy Committee approved a motion on Oct. 8 to summon KB Kookmin Bank CEO Lee Hwan-ju, Shinhan Bank CEO Jung Sang-hyuk, Hana Bank CEO Lee Ho-sung, Woori Bank CEO Jung Jin-wan and NH NongHyup Bank CEO Kang Tae-young as witnesses for an audit of the Financial Supervisory S

Oct. 18, 2026