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AmCham, Cisco urge Korean firms to tackle aging IT security risks
The American Chamber of Commerce in Korea and US networking giant Cisco called for greater attention to cybersecurity risks posed by aging IT infrastructure, urging Korean businesses to modernize outdated systems as artificial intelligence reshapes the threat landscape. The two organizations held a closed-door roundtable Thursday at Cisco Korea's office in Seoul, bringing together business executives and cybersecurity experts to discuss the risks of end-of-life, or EOL, technology — equipment an
Oct. 23, 2026 -
Hanwha takes Korean defense, manufacturing ETFs to Abu Dhabi
Hanwha Asset Management is set to become the first Korean asset manager to list exchange-traded funds on a Middle Eastern exchange, taking two US-listed products tracking Korea's defense and manufacturing sectors to Abu Dhabi as it seeks to build a global investor base. The company confirmed to The Korea Herald on Friday that it plans to cross-list its PLUS Korea Defense Industry Index ETF (KDEF) and PLUS Korea Manufacturing Core Alliance Index ETF (KMCA) on the Abu Dhabi Securities Exchange on
Oct. 23, 2026 -
Coupang spends $3.6m lobbying Washington as midterms approach
E-commerce giant Coupang spent about $3.6 million lobbying Washington in the first nine months of this year, while its political action committee steered more donations toward Democrats ahead of the Nov. 3 midterm elections, federal filings showed Thursday. Coupang reported $3.62 million in lobbying expenses through September in its filings under the Lobbying Disclosure Act, more than double the $1.69 million a year earlier. Its reports target the Executive Office of the President, the State and
Oct. 23, 2026 -
As Kospi gains global prominence, foreign media increase scrutiny
South Korea's stock market is drawing unprecedented international attention, with overseas media increasingly scrutinizing everything from individual stock debuts to regulators' handling of market volatility, reflecting the Kospi's growing exposure to global investors. Once largely viewed through the performance of semiconductor giants Samsung Electronics and SK hynix, Korea's equity market is increasingly making international headlines in its own right. Sharp market swings, controversial listin
Oct. 23, 2026 -
'Because it's Apple': What drives Korea's first iPhone Duo buyers
"I ordered Samsung's Galaxy Z Fold8 with my wife, but returned mine unopened when I heard Apple was releasing a foldable." Kim, a Seoul-based game company employee in his mid-40s, was among the first customers collecting Apple's 3.29 million won ($2,300) iPhone Duo at Apple Myeongdong on Friday. His wife kept her Samsung phone. "I seriously considered switching to Android because of the Fold8," he said. But giving up his Apple Watch, AirPods and familiar iPhone software was too much of a barrier
Oct. 23, 2026 -
Why SK hynix shelved Solidigm's $150b US IPO plan
SK hynix's decision to shelve a potential US listing of its NAND flash subsidiary Solidigm reflects a strategic reassessment of how best to finance the company's next phase of growth, rather than a retreat from its expansion ambitions. The Korean chipmaker announced Friday that Solidigm had ended its review of pre-IPO fundraising and an initial public offering, 79 days after the plan first emerged on Aug. 5. The decision comes as a sharp correction in semiconductor stocks has made a favorable va
Oct. 23, 2026 -
Samsung honors Lee Kun-hee's legacy ahead of 6th death anniversary
Samsung Electronics Chairman Lee Jae-yong joined senior executives Friday at a memorial service for his late father, former Samsung Chairman Lee Kun-hee, ahead of the sixth anniversary of his death on Sunday. Lee arrived at the family burial site in Suwon, Gyeonggi Province, at around 8:40 a.m., shortly after returning from a business trip to the United Arab Emirates. He paid his respects at the grave, bowing twice before observing a moment of silence and performing a traditional memorial ritual
Oct. 23, 2026 -
Hyundai Motor supplies 11 electric buses to Indonesia's Bali
Hyundai Motor Co. said Friday it has supplied 11 County electric buses to Bali, marking the introduction of the first electric public transportation service on the Indonesian resort island. The South Korean automaker supplied the buses as part of an official development assistance program, after winning a bid organized by the Global Green Growth Institute in October 2025. The delivery marks Hyundai Motor's second supply of electric buses to Indonesia, following the delivery of 11 County electric
Oct. 23, 2026 -
GS Caltex showcases AI-driven workplace innovations
GS Caltex showcased a range of artificial intelligence-driven workplace innovations, from employee training tools to robotics and energy-saving initiatives, at its annual Deep Transformation Day held Thursday at GS Tower in southern Seoul. The fourth edition of the event, attended by GS Caltex Vice Chairman and CEO Hur Sae-hong and other executives and employees, featured 15 exhibition booths highlighting projects developed by staff to improve productivity and transform business operations. Amon
Oct. 23, 2026 -
Seoul shares open sharply lower amid persistent AI woes, rising oil prices
South Korean shares opened sharply lower Friday, weighed down by overnight losses in US artificial intelligence and semiconductor stocks, while rising oil prices added to market jitters. After opening 2.36 percent lower, the benchmark Korea Composite Stock Price Index fell 156.6 points, or 2.83 percent, to 5,377.17 as of 9:15 a.m. Overnight, US stocks closed mixed, with losses in major technology shares weighing on the broader market. The Dow Jones Industrial Average rose 0.02 percent, while the
Oct. 23, 2026 -
SK hynix halts review of Solidigm US IPO
SK hynix Inc. said Friday it has decided to suspend plans for the listing of its US subsidiary Solidigm, citing market conditions. Reports have circulated that Solidigm was considering an initial public offering in the United States as early as next year, potentially valuing the subsidiary at up to $150 billion. "We have decided to halt its review of a pre-IPO fundraising round and a subsequent IPO after taking into account overall capital market conditions," the South Korean chipmaker said. How
Oct. 23, 2026 -
Hanwha-backed Nobu Bank spearheads Indonesia's QR payment innovation
Hanwha Life-backed Nobu Bank has topped Indonesia's QR payment market with an estimated 21.5 percent share by transaction volume, outpacing larger rivals despite its relatively modest size in the country's banking sector. Bank Indonesia separately identified Nobu as the largest provider of merchant-presented QR payment services by transaction volume in a March report. The figures reflect its presence in digital payments, although Nobu remains relatively small compared to Indonesia's major commer
Oct. 22, 2026 -
South Korea’s Arctic shipping trial points to shorter route, operational hurdles
BUSAN — South Korea’s first government-led Arctic shipping trial has shown the potential to cut the distance to Europe by about 35 percent and the transit time by roughly 10 days compared with the Suez Canal route, but participants said ice, severe weather and operational challenges remain obstacles to commercial service. The Ministry of Oceans and Fisheries shared the findings Thursday at a briefing in Busan with participants in the voyage, which ended Oct. 11 when the container ship Panstar Ac
Oct. 22, 2026 -
AI meets fashion at Palantir's Seoul pop-up
A cafe in Hannam-dong, central Seoul, was bustling with visitors Thursday, with some lining up before opening to get their hands on branded merchandise from US software company Palantir Technologies, including hoodies, T-shirts and caps featuring the company's logo and messages. The two-day pop-up store, open from 10 a.m. to 8 p.m., marks Palantir's second merchandise event in South Korea, following its first pop-up in Seongsu-dong, Seoul, in October last year. This year's event, themed "Soverei
Oct. 22, 2026 -
Seoul stocks slide over 3% on profit-taking amid persistent AI woes
South Korean shares plunged more than 3 percent Thursday as investors took profits on major chip shares following a rebound in the previous session, amid concerns over investments in the artificial intelligence value chain. The Korean won strengthened against the US dollar. The benchmark Korea Composite Stock Price Index fell 201.8 points, or 3.52 percent, to 5,533.77. The index opened down 1.14 percent before briefly turning positive to reach an intraday high of 5,740.28. It soon resumed its de
Oct. 22, 2026