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Korea rises as strategic hub for German firms: KGCCI chief
German companies are turning to South Korea as a strategic base for manufacturing and innovation, as the two countries leverage their industrial strengths and businesses diversify supply chains amid growing geopolitical uncertainty, according to the head of the Korea-German Chamber of Commerce and Industry. Marie Antonia von Schonburg, president and CEO of the chamber, said German companies look to Korea not just as a market for their products but as a base for manufacturing, technology developm
Oct. 22, 2026 -
Young Poong, MBK vow appeal after W837b lawsuit defeat
The Seoul Central District Court on Thursday dismissed an 837 billion won ($632 million) shareholder derivative lawsuit filed by Young Poong and MBK Partners against Korea Zinc Chairman Choi Yun-birm and other directors, handing the company's management a legal victory in their ongoing battle for control. The Young Poong-MBK alliance filed the suit in November 2024, alleging that Korea Zinc's directors caused substantial losses by buying back shares at 890,000 won apiece through a tender offer,
Oct. 22, 2026 -
BOK pauses rate hikes, but signals more may come
The Bank of Korea held its key interest rate at 3 percent Thursday, pausing after two consecutive hikes but keeping the door open to further tightening as stronger-than-expected growth and persistent inflation complicate its policy outlook. The Monetary Policy Board unanimously voted to leave the rate unchanged after raising it by 25 basis points in both July and August. "We believe it is necessary to maintain the current restrictive stance, as growth and inflation have been stronger than expect
Oct. 22, 2026 -
LG Display swings to Q3 profit, but earnings fall 42% on year
LG Display returned to an operating profit in the third quarter on stronger seasonal demand for OLED panels, although earnings fell 42 percent from a year earlier as a weaker dollar and rising component costs weighed on profitability. The South Korean display maker said Thursday that operating profit reached 250.6 billion won ($189.3 million) in the July-September period, reversing a 107.7 billion won loss in the previous quarter. Revenue rose 12 percent from the second quarter to 6.28 trillion
Oct. 22, 2026 -
K-beauty stocks stumble as strong won squeezes profits
While K-beauty’s overseas sales have never been stronger, markets seem hesitant to reward its soaring figures, fearing a surging won will eat into its earnings. Cosmetics exports reached $11.1 billion in the first nine months of the year, up 31.1 percent and a record for the period, according to Korea’s Ministry of Food and Drug Safety, though shares of major K-beauty companies have lagged behind, weighed down by an earnings risk analysts say is already priced in. APR, the sector’s bellwether wi
Oct. 22, 2026 -
Korean government wins $127 million tax refund lawsuit against Lone Star
The South Korean government and Seoul won a lawsuit Thursday against US private equity firm Lone Star Funds over 168.2 billion won ($127 million) in tax refunds, after the Seoul High Court rejected Lone Star’s claims in a retrial ordered by the Supreme Court. The case involved nine Lone Star-affiliated entities, including Lone Star Funds, seeking the return of taxes imposed on their investments in Korea. The ruling dismissed claims for refunds that lower courts had previously ordered the central
Oct. 22, 2026 -
Zuellig Pharma expands cold chain capacity in Korea
Zuellig Pharma Korea said Thursday it had expanded its cold chain facilities at its hub in Anseong, Gyeonggi Province, as demand for refrigerated medicines rises, particularly during the flu vaccine season. According to the global healthcare logistics provider, the expansion bolstered the Anseong facility's total storage capacity by 4,000 pallets to 17,500 pallets across ambient and cold chain conditions, including space for 7,500 pallets of refrigerated medicines. The increased capacity is expe
Oct. 22, 2026 -
Hanwha Asset raises bet on US startup Impulse Space
Hanwha Asset Management has made an additional investment in US space transportation startup Impulse Space, joining a $308 million funding extension as it expands its portfolio of overseas deep-tech companies, the firm said Thursday. Founded in 2021 by Tom Mueller, a SpaceX founding member and former chief technology officer, Impulse Space develops spacecraft that transport satellites and cargo to their designated orbits after launch. Hanwha Asset participated through a project fund backed by fo
Oct. 22, 2026 -
Japanese envoy touts bilateral ties, experts discuss blockchain at Global Business Forum
Blockchain could let money move as easily as email, but Korea still has legal groundwork to lay before stablecoins and tokenized securities go mainstream, experts said Wednesday. The experts shared their views at a forum on the future of digital payments, hosted by Herald Media Group at the Ambassador Seoul Pullman hotel in central Seoul as part of its Global Business Forum. Japanese Ambassador to Korea Koichi Mizushima opened the evening by recognizing the warming ties between Seoul and Tokyo.
Oct. 22, 2026 -
Posco Future M adopts Palantir AI platforms
Posco Future M has partnered with US software firm Palantir Technologies to accelerate its AI-driven transformation, targeting major gains in manufacturing productivity, product development and customer service. The battery materials maker said Wednesday it had signed an agreement to adopt Palantir's Foundry data analytics platform and Artificial Intelligence Platform (AIP). Foundry integrates data across business operations, while AIP combines enterprise data with generative AI to support AI-po
Oct. 22, 2026 -
Nvidia taps Korean component makers for AI chips, robots
Samsung Electro-Mechanics and LG Innotek are expanding their ties with Nvidia, applying their expertise in semiconductor substrates and sensing technology to the US chipmaker's growing AI computing and robotics businesses. Samsung Electro-Mechanics announced a multiyear agreement Wednesday to supply advanced semiconductor substrates for Nvidia's AI processors and networking chips, while LG Innotek said Thursday it was working with Nvidia to develop sensing systems for humanoid robots. The collab
Oct. 22, 2026 -
AI gave the hacker the tools, weak security opened the door: CrowdStrike
As South Korean banks pledge greater investment in artificial intelligence-powered cybersecurity following a series of breaches, the head of CrowdStrike's counter adversary operations says they must also address basic security weaknesses that allowed an inexperienced hacker to compromise financial institutions in the first place. Adam Meyers, senior vice president of counter adversary operations at the US cybersecurity firm, oversees the team that helped uncover how AI was used in the attacks. I
Oct. 22, 2026 -
Samsung SDI to sponsor Korea's Chemistry Olympiad team
Samsung SDI has signed an agreement to sponsor South Korea's national team at the International Chemistry Olympiad, expanding the Samsung Group's support for young science talent. The battery-maker signed the agreement Thursday with the Korea Foundation for the Advancement of Science and Creativity and the Korean Chemical Society at the Korea Science and Technology Center in southern Seoul. The ceremony was attended by Samsung SDI People Team head Kim Hoon-kyu, foundation Chairman Jung Woo-sung
Oct. 22, 2026 -
JB Financial Group expands into Central Asia with Kyrgyz acquisition
JB Financial Group is expanding into Central Asia through an acquisition in Kyrgyzstan, seeking new growth opportunities beyond its established Southeast Asian markets. Its subsidiary JB Woori Capital has agreed to acquire a 100 percent stake in Epoke, the parent company of Kyrgyz financial firms Korky Credit and Korky Leasing. Woori expects to close the deal by year-end, pending regulatory approval and registration. The acquisition marks JB Financial's entry into Kyrgyzstan, a fast-growing mark
Oct. 22, 2026 -
Merck opens Korean chip materials plant to meet advanced memory demand
German science and technology company Merck opened a new semiconductor materials plant in South Korea on Thursday, expanding local production of molybdenum as chipmakers adopt the metal for increasingly advanced memory chips. The facility in Eumseong, North Chungcheong Province, will produce molybdenum dioxide dichloride, a chemical used to deposit ultrathin metal films during chip manufacturing. It will supply customers in Korea and elsewhere in Asia. Benjamin Hein, CEO of Merck's Electronics b
Oct. 22, 2026